Your Questions Answered by Industry Experts

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Answers from Industry Experts

Bitcoin Currency Economics

What are the different ways to make money with Bitcoin?

Brad Mills answered: I've been into bitcoin since 2011, and here's my brief take on where the opportunity lies. - Mining: Bitcoin mining is too difficult unless you invest a significant amount of money into it, think over $10,000 ... and it only becomes profitable if the price of bitcoin does another 10X (which it may. - Mining: Altcoins may be the quicker path to profits (http://coinmarketcap.com/) ... mine some altcoins and then converting them to bitcoin through one of the exchanges like cryptsy.com - Buying: I am waiting for another price crash before I buy back into bitcon, I'm hoping it will drop to $500. I see it rising back up over $2000 if it does drop, however now that the Chinese are into bitcoin, its a real possibility that the price will just keep rising. - Arbitrage: The price difference between exchanges is massive. You can now buy bitcoin at btc-e for $1000 and sell it instantly at mtgox.com for $1200. If you had $100,000 to arbitrage with, that is a cool $20,000 profit. The probem is that these exchanges may go down at any time and you risk losing your money/bitcoins. -Startup: You could build something with real value, although the competition now is fierce to build a product with real value that has not already been built. VC's are getting hot for bitcoin startups, check out press on Ripple Labs, BTC China, BitInstant, Coinbase, etc. There are some other opportunities, like buying a bitcoin ATM machine from a franchise (Robocoin, Lamassus) or something a little more in the grey area like starting a bitcoin casino. There's lots of opportunity in cryptocurrency if you look hard enough, I feel though that the window of opportunity for massive profits and value creation is narrowing due to the eyeballs looking at the bitcoin world right now. So whatever you want to do, take massive action and do it fast before you lose momentum and first movers advantage.

5 answers • almost 11 years

SEO Inbound Marketing Search Engine Optimization (SEO)

What are the basics of SEO and what does a beginner need to know to understand the Google updates process?

Nick Eubanks answered: The basics of SEO are: Crawlability: proper HTML mark-up and syntax starting with the document head right down to the <div> structure. If search engine robots can't parse your code then it doesn't matter how relevant it is to the search query. Authority: content that is popular tends to rank well, this is due to a high signal to noise ratio based on the qualitative metrics that Google's algorithm is taking into account - metrics like organic click-through rate from the SERP, adjusted bounce rate on the page, average time on site, etc. Links: authority is built over time and through trust. One of Google's leading trust indicators is links back to your site or page from other trusted (authoritative) sources. At the end of the day Google (and search engines in general) are looking to provide the best experience for their users, delivering the most relevant and useful results as fast as possible. If your webpage is delivering value, solving a problem, or answering a question then you are off to a good start.

8 answers • almost 11 years

Infrastructure Management Cloud Deployment

What are the steps and breakdown of Technical Infrastructure Delivery Processes?

Jesús Martínez answered: I recommend you breakdowns of the particular to the smallest deliverable. You can use the tool WBS Chart Pro

1 answer • almost 11 years

Lean startup Business Solutions Development Information Technology

I'm looking to launch a lean mostly automated scalable Multi-mode dispatching centre. Can you suggest systems, equipment in the market you'd use?

Laurie Wheeler answered: In the late 1990s I was the Express Logistics Supervisor for DHL International's HUB in Bahrain. You need clear inventory database with scanning tech, and I imagine secure lock up, you'd need very accurate procedures to avoid liability, alarm/security/ tracking systems. Would you be partnering with parcel services? I'd have to know the scale & locations, plus what research you've already done. Feel free to connect to further clarify & get a to do list.

1 answer • almost 11 years

User Experience User Acquisition

I've been hearing a lot of buzz around card based UIs lately. Has anyone implemented something similar in their product recently. Pros and cons?

Sean Johnson answered: One of our clients went with a card-based approach (http://purelyapp.com). The reasons were: - People understand them. The separation and spacing lead to very little cognitive overhead. - Perfect for responsive layouts, and translate easily to native mobile devices. - Forces you to discriminate - you can't cram too much information in a card (at some point it ceases being a card), so it provides a nice constraint and keeps your product simpler. - Easier to A/B test. Cards are a great example of what Andrew Chen has called an 'open system'. Many layouts are just loops of cards, which means making changes to a card object is trivial vs. changing the layout of a less modular, more structured page. Hope that helps!

3 answers • almost 11 years

Lean startup New Business Development Entrepreneurship

How can I smoothly transition from full time worker to self-employment?

Dan Martell answered: The ways I've done this in the past are 1) Find some customers that are willing to hire you (or your product) but know that you'll only be free nights & weekends to support/work with them. 2) Find a "partner" (co-founder or other) that's got a flexible schedule that can help build the business while you're at work. 3) Block out nights, mornings and weekends to build the business till you have enough orders to cover 50% of your salary. This might mean 7pm-11pm most nights, and 4 hours each day Sat & Sun. Make progress (sales $$$) and momentum. All that being said, it's risk reward. Sounds like you want to avoid taken the risk, and I get that .. but the upside is always smaller. Unless you put yourself in a position to have to succeed (ex: quitting your job) then you may never make the scary decisions that are required to build a company (like cold calling, going in debt, making a presentation, etc). I'm on company #5 with many other side projects started nights & weekends .. so I get it - but don't be afraid to bet on yourself and go all in.

17 answers • almost 11 years

New Business Launch Business Management Business Strategy

How can I franchise a residual revenue generating information kiosk to be located at tourist attractions?

Lonnie Helgerson, CFE answered: Depends on a large number of factors. Here are a couple - 1. If you own and operate them, do you have the capital to grow as fast as you would like? 2. Do you need to franchise, or will a standard license or dealer arrangement suffice? 3. How much control do you need to exercise over the operations of the kiosk, i.e. use of the brand name, pricing, quality control, sales activities, training, marketing, etc. Franchising is a another method of distribution. The real question for you is what is the best method? I always recommend a feasibility study be done to ensure the best method of growth, followed by a strategic plan to do so.

3 answers • almost 11 years

Advisor Advisory Boards

What is the best strategy you know to build an advisory board?

Marissa Levin answered: OK someone actually flagged me for spam??? I wrote a book on how to build advisory boards. It directly answers the question posed. I don't make my living off my book. I wrote it to help entrepreneurs. if you want help, then contact me. If not, then good luck. Wow!!

4 answers • almost 11 years

Entrepreneurship Start-ups Mobile applications

What are common themes in the success of Instagram and SnapChat?

Slaven Radic answered: The common theme is to create something truly engaging for your market, at the right time: Instagram was released at the perfect time when many people had iPhones with a decent camera but limited ways of sharing those photos while on the go. SnapChat tapped into a similar (though younger) demographic that now needed a more personal space to share, as the mainstream social networks pressed forward with "no one needs privacy anymore". I'm writing a post covering this exact topic, to be published soon.

3 answers • almost 11 years

Accounting Small Business Tax

Should I hire a bookkeeper? (what does one do exactly?)

Richard Lockyer answered: NIcole is right. When I first started my business I thought I was saving money by doing my own bookkeeping. It took me much longer than it would take a bookkeeper - all time that I was not spending on marketing or billable activities. And in the end I made errors which made the initial work of the bookkeeper longer. I now have a consistent routine. My bookkeeper picks up all my material monthly and does my books in less than 2 hours. Very worthwhile.

9 answers • almost 11 years

Product Design Product Sourcing Product Development

How can I get my prototypes created inexpensively for a line of decorative metal products?

Ali Maadelat answered: Does it need to be in metal for a prototype? If not, do a 3d printed model and, if needed, wrap it in metal sheet/foil. There is no cheap way to do a production quality prototype.

3 answers • almost 11 years

Entrepreneurship Product Differentiation Technology

How was Twitter able to avoid competition in becoming a dominant company?

Aliza Sherman answered: Three main things: 1. First mover advantage - There were others around the same time - Jaiku, Pownce, Plurk, Identi.ca, etc. - but they didn't get critical mass quickly enough. 2. "Disruptive" product - Who knew a new online platform could totally transform the way we communicate and consume content. 3. Open API to encourage ancillary app development. The rush for 3rd-party app integrations created a zeitgeist of innovation (and future acquisitions for the company). I'd also say that the simplicity and focus on limited features was an advantage. And nimble response to its early adopter usage patterns and requests (ex: integrating "retweets" and hashtags into the product feature set). (For context, I started an early Internet company in 1995, a social media marketing firm in 2005 before we called it social media and began using Twitter March 2007.)

4 answers • almost 11 years

Online Advertising Display Advertising

When bidding on CPM traffic through a self-serve RTB DSP, what are the most efficient strategies for initially choosing sites/apps, and setting a CPM?

Brent Halliburton answered: The answer depends on your situation: You could be a start-up that is more concerned with not blowing tons of money, or you could be in a rush to be done. In both situations, your objective is to find inventory sources that work quickly and then massively scale into those inventory sources. I am going to assume that the goal is to be efficient. In this case, I would start with relatively few inventory pieces and a pretty low bid. The goal of your experiment is to determine what inventory DOESN'T work while spending as little money as possible. By concentrating your spend on a few pubs, you can get to significant results quickly. If you spread out your spend, you won't generate enough clicks or backend actions per inventory source quickly enough to determine if one is actually working. (In my latter user persona, you can simply spend gobs of money to get significant results on lots of inventory quickly.) So the moral of the story is that you want to get to results, you have to scale the number of pubs you work with to align with the amount of money you are planning to spend. You would like to, within a day or two, rule out bad inventory and focus on new inventory, or alternately, make massive investments in working inventory to print money for yourself. I would be happy to do a call to further discuss.

3 answers • almost 11 years

Quickbooks Payment Card Processing

For you digital marketing / SEO / PPC guys out there, how do you bill your clients? Authorize.net or Quickbooks? Or something new on the market?

Ali Maadelat answered: Authorize is my choice. Don't use them directly-- set up your own UI. Though, from a "millionaire" point of view you shouldn't be accepting CC for medium/large marketing jobs to begin with. Any firm with authority should be able to have a "check, money order, or transfer" policy. There are too many reasons not to do credit card. Anyway-- if you'd like some more advice regarding how to take your firm to the next level, let me know and set up a call.

3 answers • almost 11 years

Early-stage Startups Entrepreneurship Public relations

We just won Startup Weekend Toronto for griflens.co. How do we get votes and PR to win the Global Startup Battle?

Heather Anne Ritchie answered: My suggestion would be to only spend time and energy on PR activity that serves a greater purpose than winning the contest. While this is a great excuse/reminder that PR is important, think beyond the startup battle. Look at this as an opportunity to tell your story. Here are some thoughts that will help in positioning yourself as a thought-leader: - If you're the only entry from Canada, use this as an opportunity to build relationships with come Canadian tech journalists. Reach out and ask permission to tell them more about your mission. Use the Startup Battle as a hook because it's current and newsworthy. But remember - you really don't want to see "Help griflens win Startup Battlefield" as the headline. You'd rather see them tell the story of your value proposition. - Are there interesting / relevant startup-focused local media outlets - i.e.: BetaKit, Canada.com, TechVibes, etc that would cover your win and appeal to their readers for help? (Those three are TO-based.) - Brainstorm 5-10 interesting blog topics you could write on and subsequently submit as guest posts to relevant lifestyle blogs with solid readerships. Pitch the blog owners the topic first and ask if they'd be open to you submitting a guest post discussing the topic. Be sure you're proposing how you can add value to that community. Again, don't lead with 'we're a finalist in the Global Startup Battle' - instead, add voting for you as a classy call to action, once you've given the readers something of value. (Rule of thumb: Give first, Ask second.) - Network with as many influencers as possible on multiple social media channels like Twitter and via email. Introduce yourself, share your news - without asking for their help, they may just be intrigued to learn more about you and subsequently vote. Just a few ideas off of the top of my head. Cheers, Heather PS: Oh, and good luck! :o)

3 answers • almost 11 years

Social Media Non-profits Non-profit Marketing

Where does an organization find their audience?

Ali Maadelat answered: This is not a sarcastic comment: you hire a marketer or marketing firm that knows what they are doing. Marketing is a science and art that requires skill-- it's like a doctor/surgeon for your company. You wouldn't do open heart surgery on yourself-- why would you try to do surgery on your company? If you'd like more help, feel free to set up a call.

5 answers • almost 11 years

SaaS - Enterprise & SMB B2B Customer Support

Are there standard ratios that are used to calculate first level support staff needed for a SAAS product that is a non-technical product?

Richard Lockyer answered: Hi. I'm a Business Intelligence consultant with most of my customers being call centers. There are definitely guidelines you can apply but it will be based on several factors. Your question references ratios, which I assume means you would like to know how many agents per customer. That number will vary greatly depending on a number of other factors including: -what is your ASA target (Average speed of answer)? -what percentage of calls should meet the ASA? -are their penalties below a certain threshold (if less than 80% of calls meet ASA in 24 hours, for example) -how long are calls waiting when they don't meet ASA? -what is the call distribution by day of week, time of day and holiday v. non-holiday. -what is the average call duration? -what is the % of calls requiring escalation or call back versus calls resolved on first contact? To simplify it though, the two most important (IMO) will be call volume and your target for ASA (assuming you aren't answering then putting them back on hold, etc). To simplify though, the top 3 are: ASA, Call length and call volume. Regardless of the size of customer base. A good reporting system that combines live metrics and daily/weekly/monthly analysis will help a great deal. Feel free to set up a call if you'd like to talk about this in more detail.

2 answers • almost 11 years

Civil Engineering CEOs Business Strategy

How would CEO's of the tech/civil ( construction related services) industry in Canada suggest getting into the Canadian civil market?

Zamir Javer answered: Getting some of your relevant authority content in the front of some of the decision makers or Influencers of your target market is a great way to make entry. This is done via content and Influencer marketing using digital and social networks. We work with Construction firms to develop strategies and execute them for these types of growth campaigns. Happy to get on a call to provide more insight.

2 answers • almost 11 years

Retail

Who owns the data in an EDI relationship between a supplier and retailer?

Dan Martell answered: All data ownership comes down to the terms of service for the providers involved or the agreement negotiated. It really all depends but those are the 2 places to look.

1 answer • over 10 years

Entrepreneurship Time Management Organization & prioritization skills

What should an entrepreneur be spending his/her time on?

Jit Salunke answered: If I have to tell you only one thing: it is Distribution. Most of the entrepreneurs (including me at one point) are so obsessed with the product and adding new features to it. They completely overlooked the fact that Distributing the product is what play single most important role. Even over the quality of the product.

5 answers • almost 11 years

Video Blogging Marketing Strategy Interviews

How can I get top performers/successful entrepreneurs to interview for a blog without having an already established brand?

Stacey Alcorn answered: I have written hundreds of blog posts by interviewing amazing people. I have interviewed best selling authors, CEOs, entrepreneurs and more. Here are my five tips for getting the interviews... 1. Ask - most people want to be heard and they will grant you an interview if you simply ask for it. Sometimes the hard part is finding their contact info but I have had great luck using the paid version of LinkedIn and theofficialboard.com. 2. Always Be Ready! Recently I was at a networking function at a bar when I had the opportunity to meet The Bachelor from the season 4 show. I googled him on my iphone...found out a little about his businesses and approached him spot on for an interview which I published a day or two later on The Huffington Post. 3. Make it worth their time. Getting author interviews is easy because they want to sell books. I usually do those interviews in a live webinar format for my coaching clients so that the author can sell books and we get a great mix of questions. I then publish the webinar/teleconference on my blogs. 4. Be Prepared - I never go into an interview asking questions I could find on google. Always find out as much as possible about the person you are interviewing by researching them first. As well, if you are interviewing an author, never interview them without reading the book first. 5. How much time do you need? I interview many people who are extremely busy and so when I ask for the interview I make it clear that I will work around their schedule and I let them know in advance how much time I am asking for. I have never had to pay for an interview. I always share my content via my blogs. I always follow up with a thank you note and small gift.

5 answers • almost 11 years

Growth Hacking Entrepreneurship Growth Strategies

How has Uber grown so fast?

Bronson Taylor answered: Obviously, they do the fundamentals well. Good brand. Good experience. Good word of mouth. Good PR. Etc. Etc. But after my interview with Ryan Graves, the head of Global Operations at Uber (https://www.growthhacker.tv/ryan-graves), it became clear that they are operationally advanced and this is a huge part of their success. I'll explain. Uber isn't just a single startup, it's essentially dozens of startups rolled into one because every time they enter a new city they have to establish themselves from essentially nothing (except whatever brand equity has reached the city ahead of them). This means finding/training drivers, marketing to consumers, and building out local staff to manage operations for that city. This is where Ryan Graves comes in. He has a protocol of everything that must be done, and in what order, and by who, to ensure the best chance of success in a new city. So how has Uber grown so fast? Essentially, they figured out how to grow in one locale and were relentless about refining their launch process to recreate that initial success over and over in new cities. No plan works for every city, and they've had to adapt in many situations, but it is still a driving factor for their success.

16 answers • almost 11 years

Marketplaces Online Marketplace

What are the best tips to growing your audience for an online marketplace?

Malcolm Ong answered: As mentioned, it depends on what your specific goals are and what kind of marketplace we're dealing with. I know the best practices / approach we used at Skillshare, but let me know if you have a more specific question.

7 answers • almost 11 years

Retail Return on Investment Marketing Strategy

What are average profit margins in Ice Cream store business?

Mijael Feldman Sabah answered: Hi! I am owner of an ice crean chain with 45 stores in Chile. We have stores in shopping centers, streets and also karts that you can put in events and parks. The average cost margin of ice cream (depends on the amount of materials you use in producing the ice cream) is around 40%. This is italian gelatto where you serve the ice cream without a specific measurement so your costs can vary due to the size of each portion you serve. About the brand you should focus on your unique value proposition and what kind of ice cream you are selling. We import the pastry from Italy and the fruits and milk from our country. Your ROI depends on your sales price and costs. If you focus on high market ice cream you can charge high and keep costs down.

10 answers • almost 11 years

Startups Venture Capital Crowdfunding

My startup failed, I'm starting something new. Is it OK to let my first startup subscribers know about my next startup?

Dan Martell answered: 100%. Many companies "Pivot" and when they do, they let their current users know that the service is shutting down - but that they're now moving onto something new (or launching a new company). Flowtown (my last company) did this 3 times. We even leveraged users to test the new product before we made it public. Just be respectful of peoples time/email and only send to them if they opted in to receive company updates.

7 answers • almost 11 years

Manufacturing Procurement Import/Export

What is the best way to go about procuring ceramic cups in Asia? (By best I mean reliability and scalability.)

Michelle Lei answered: Many of the large established maunfactures attend trade shows, such as the Canton Import and Export Fair. The key is to look for manufactures that already supplies to established brands. Once the manufacture meets the QA standards of the large brands, their quality remains consistent regardless of the company they produce for. Most of the time the minimum order quantity they request are up for negotiation. Same for the sampling cost. Most manufactures are willing to wave the sampling cost if a production order is placed at a later time. Sourcing at the end of the day requires a lot of ground work. It takes time and effort to locate the right suppliers, visit and audit their facilities, and prices negotiate. However, this really saves money in the long term because you will have solid supply chains you can count on and trust. One way to approach this is to consolidate. Consolidate the number of suppliers, and make each sourcing trip count by finding multiple suppliers at once. Best of luck in finding the right suppliers for your products!

3 answers • almost 11 years

Marketing Strategy Online Marketing Early-stage Startups

What are the best ways to generate traffic or ways to reach to the customers you are looking for as a startup?

Dan Martell answered: It really comes down to 2 major buckets. 1) CONTENT / INBOUND MARKETING Some people consider this option free, but it's not. Time is money, and it requires an major investment to do it right. The options are: - Company blog - Guest post on other blogs - Engage on social media (Facebook, Twitter, Instagram) - Press - Videos on YouTube - Create a free App (web or mobile) etc ... This strategy is all about create amazing content/information/tools for your customers. Think about their major questions they have for your industry, and answer them. Even consider teaching them everything you know about your industry. Doing so will attract them, and make you look like an authority. I've done this with my past 2 companies Flowtown (300K U/V), and Clarity (40K U/V) blogs. Each of the items mentioned above have a unique strategy and tactic .. so best to pic the one you'd be most excited about creating, and do just that one with all your resources. 2) PAID MARKETING Paid means using advertising to introduce your company to potential customers. Some options you have: - Google Adwords - Facebook Ads - Twitter Ads - Bing Ads - Banner Ads etc ... The only way I would suggest paid marketing is if you truly understand your customer LTV (Lifetime Value). If you don't know that, then you could be wasting money attracting views to your startup that aren't profitable. So be sure to have a product / service that makes profit, then you can test different paid marketing channels. My rule of thumb, is it'll cost your $200 to get 1 new paying customer (on avg.), so unless you're making $600 profit from a new customer, don't both for now. If you need to discuss further, you know how to find me.

12 answers • almost 11 years

Concert Promotion Concert Production Music Industry

What is a good way to find investors or raise money for a concert?Also how should I go about learning the business of organizing/promoting concerts?

Jonathan Sexton answered: I have a lot of background in live event promotion and also dealing with investors. Really it depends on the type and size of the event you are wanting to promote. Sometimes sponsors are enough to get you going depending on what the target market it is and if the ideal audience for the concert matches the sponsors marketing goals. In the event you want to go that route, you'd need to set up some sponsorship packages etc. (also something I've done). Finding investors can be really tricky if you've never put on a concert before. Usually, It is best to get some sort of track record first- again, I'm not sure the actual context here, but generally you have to create an investible story (i.e.- The first time we did this we only had x amount of money to start with but we accomplished y- so if you will invest Z in the next event- we'll be able to make 10x as much money. Lastly, Im not sure who the big concert promoters around Ohio State, but I'd look into maybe doing a summer internship with AEG live or AC entertainment in Nashville, or find out who the local promoters are and try and learn from them. Happy to talk more anytime- Hope that helps. JS

3 answers • almost 11 years

Web Design Start-ups Early-stage Startups

What is the best way to find a high quality UX designer?

Dan Martell answered: The way I higher anyone is to find people who already do amazing work, approach them for advice on my projects, see if their a fit for our team and skills - then over time (as I work on a project with them) convince them that our company is the best opportunity they have. So, back to your questions - where do I find high quality UX designers? We'll, here's a few places I look: - www.dribbble.com - http://www.behance.net/ - http://www.deviantart.com/ - http://carbonmade.com/ I also like searching on Twitter for bio's with UX design and high influence score, or follower count Ex: https://followerwonk.com/bio/?q=UX%20designer&s=social_authority If you follow this approach for sourcing great candidates, and my recommendation above re: get advice/start a conversation - then work on a simple project first to see if there's a fit, you should find some success. It takes time, but the right person can 10x your growth .. so slow down and do it right. P.S. I also did this once, and ended up higher 2 AMAZING guys! http://www.danmartell.com/why-i-would-pay-100000-for-an-amazing-ui-designer/

6 answers • almost 11 years

Startups Marketplaces Online Marketplace

What's the best way to bring users to a website that heavily relies on user's content?

Dan Martell answered: You can either 1) load it with other peoples content, or fake content to prime the pump. 2) recruit an initial group of users to create the content or provide the supply. It's really that simple. For Clarity I recruited 1000+ experts before launching the site. It's not easy, but not impossible.

3 answers • about 11 years

Large Group Facilitation Public Speaking Leadership Development

Looking for a decent ice breaker for a large 12-16 person working group?

Balind Sieber answered: Hey. :) Craft a joke that's relevant to the situation. Touch on the core essence of why everyone is attending, or make light of something that's happening in current news, preferably in a context that relates to your subject matter. As a backup you can alway open with asking people why they're attending and what they're hoping to get out of the workshop. Hope that was helpful.

6 answers • about 11 years

Start-ups Entrepreneurship Marketing Strategy

Does something like clarity.fm work in other industries? Do you know of anyone who has made it work in other industries?

Dan Martell answered: The concept of having a directory to get advice has been around for years .. earliest occurance I can find is 1999 with Ingenio.com (acquired by AT&T). In todays world, there's www.healthtap.com | http://helpouts.google.com + many many others. The key is community & liquidity. Marketplaces are all about building enough demand + business model to support growth. It's not the technology, it's the implementation of that technology to ensure a great experience for both parties.

3 answers • about 11 years

Real Estate Investing Real Estate Investment Direct Mail

What do you suggest for direct mail if I'm seeking motivated homeowners with equity, to buy at a significant discount

David Berman answered: 1. Make sure you have a great list. By "great" I mean targeted to the specific demographic and psychographic profile of your market. 2. Make sure you have a great message and offer. 3. If you aren't a skilled copywriter - hire one. Consider your cost of client acquisition (and if you haven't calculated your cost of acquisition - you need to before you do ANY marketing) when deciding on how much you can afford. 4. Split test the mailing so you can find your control. 5. Measure everything. Give me a call if I can help with more on the specifics. And good luck!

4 answers • almost 11 years

Online Video

What is the best approach to launch an online video instruction subscription service?

valéry bonneau answered: Hello, I am a Marketing responsible for online video monetization so your point rings a bell. Few questions need to be answered in order to build a successful strategy : 1/ What kind of instruction do you have in mind and for which target ? 2/ How many video do you plan to produce per day/week/month and at what cost 2/ What are your membership objectives and your communication budget for year 1 and 2. Then, we can build a launch plan and the internet marketing plan associated. As you mentioned the OVP is very important but again it depends on what you have in mind, on the zone you plan to reach, on the way you plan to secure your content, on the additional features you expect (or not) etc etc. Also, it is important to keep in mind that a membership subscription service is built on what you give for free. What will you show to your prospect that will give them the will to pay for the next part, for the full service. Hope it helps and call me so we can build a full strategy.

2 answers • about 11 years

Real Estate Investing

Who has experience in real estate investing specifically in the Probates niche. Have you done a deal Maryland and can you explain the process?

Mike Pouraryan answered: Probate is tough. As I helped to launch my Real Estate Investment & Management Firm almost 10 years ago, I was on the lookout by monitoring the updates from the Public Guardian of my local County and other venues. But, the challenge of dealing with the Courts outweighed any potential gain.

2 answers • over 10 years

Marketing Consulting

What do the most successful consulting businesses do to build their business?

David C. Baker answered: 1. Let's define successful. Each of us has individual goals and only some of them are monetary. But I take it you are asking about how to make money consulting! I'd be very careful listening to the advice of a consultant who isn't successful by that measure. I pledged to never accept money from someone who makes more than I do. Why in the world would they need me to get to the next level when I haven't demonstrated both good ideas and the discipline to do it? I'm grateful to have been consulting for nearly 20 years, and here are some specifics (fees billed, by myself). I hit my stride four years in and billed $307,000. For the next four years, it rose every year until I hit $686,000. Then decreased the next four years during the recession, reaching $339,000. Then back up in 2007 to $804,000. Then a tad down each year during three spinal surgeries and recoveries. Then back up to a new high in 2011 of just over $1 million. Now I'm at a sane level. :) 2. Recognize the "blah blah me too lemming-like" marketing speak you'll read everywhere and plant a flag on ONE specific mountain instead. Make it your business to be the unquestionable SME (subject matter expert) to defend it. Ignore the really bad advice to put your eggs in one basket or to just follow your heart and the money will come. (There are a lot of people following their heart and struggling.) 3. Consider these very distinct stages in how you make money in consulting, in order: a. Forget spreadsheets; see your hourly rate as a positioning tool. b. Get a second shift job to keep from compromising while you build it. c. Fill >60% of ALL the time you work w/ recoverable fees. d. Maintain >60% with an increasingly higher hourly rate. e. Move exclusively to package pricing w/o reference to hours. f. Build scalable income (webinars, books, etc.). 4. Be friendly but not too accessible. Experts are not accessible in developed cultures. 5. Take two stances, concurrently. Be very helpful in giving away terrific advice for free as long as you don't personalize it. Then charge ridiculous amounts of money to do so. 6. Figure out why you're in business. I'd suggest these three things, in this order: a. Make money. b. Make a difference. c. Enjoy the process. If you don't charge enough, no one listens and you don't have an opportunity to make a difference. But just charging a lot of money is very emptying. 7. Take chances and be different. On my website I tell visitors who aren't a good fit, list all my prices, and list all my competitors. I'm not sure there's a business in the world that does that! Best wishes to you.

7 answers • almost 11 years

Marketing Strategy Targeted Advertising

Do companies look at targeted outdoor advertising?

Ali Maadelat answered: Billboard ads have some of the worst response rates out there and some of the highest costs. The companies that look at things like billboards are the ones who probably won't pay the bills for your marketing services because they'll be bankrupt in 2 weeks since they make poor decisions. Want to know what the BEST methods are? Set up a call and I'll guide you through them.

4 answers • about 11 years

Pricing SaaS

Has anyone increased SaaS subscription pricing by 100% and lived to tell the tale?

Lars Lofgren answered: Many well-known SaaS companies have doubled their prices. I've personally worked with a few that have gone through it. In most cases, your conversion rates stay the same and you see a huge jump in revenue. This is because people tend to under-price themselves. Also, your product improves over time so it provides more value and can support a higher price. But don't raise prices for old customers. Grandfather them in so their plans stay the same price. In the long run, it won't make a difference to your growth since most of them will churn out anyway. If you raise prices on current customers, you'll get a huge backlash. It gets nasty. I'm pretty sure that Zendesk tried it and had to reverse the price increase. I highly recommend raising your price by 100% for a month on new customers. Keep a close eye on your revenue and your conversion rates. If things don't go well, you can easily reverse it and discount everyone that paid for the more expensive plan. Either way, you'll know what your market will actually support.

4 answers • about 11 years

Funding Fundraising

How do I fast track my business plan to get in front of the right people and not held up by the Gatekeeper?

David C. Baker answered: Dan has given you some excellent advice. On the low-level, purely mechanical front, send your pitch via some tracked service like FedEx or UPS, for two reasons. 1. Nobody is going to throw one away without opening it. 2. When a road-blocking gatekeeper rolls you to a stop, just say: "Could I speak with Stephanie, please? I'm following up on a FedEx she received yesterday."

5 answers • almost 11 years

IT Service Management IT Service Delivery

What is the best way to find a technical salesperson for an IT services group coming to the US?

Dan Martell answered: The way I hire anyone is to find someone who's currently employed in that role for a company in my existing market. You can find that person using a few techniques. 1) LInkedIn: Search who's currently doing technical sales for companies similar to yours, and reach out to them to get advice on "How to hire someone like them?". 2) Customers: Connect with a company using a similar product and ask them who's the most impressive technical salesperson they've met - contact that person. Another technique for finding-the-right-person is to search on LinkedIn for a person who previously worked at a similar company that would manage that kind of person (ex: Sales Manager) and ask for advice on hiring... then you can ask who they worked at, at the previous company that impressed them. Build the list using this technique, then win them over to join you for US domination :). Call anytime for more tips like this.

1 answer • about 11 years

Conversion Rate Optimization (CRO) Conversion Optimization Digital Marketing

How to price conversion rate optimization?

Kevin McCaffrey answered: I provide conversion optimisation services on a price per day on a rolling monthly basis. I did it this way, because my background is in software development consultancy and everything was estimated and billed out on a daily basis. I also provide one off services which is normally priced based on how long it would take to complete. I prefer to work with customers on a rolling monthly basis because I can have an impact on many aspects of their digital marketing and business processes. It means I'm also not tied to only creating split tests but have the freedom to advise and have a positive impact on multiple areas of a business.

5 answers • about 11 years

Entrepreneurship Small Business Membership Marketing

Do you think entrepreneurs will pay for a membership site about the psychological aspects of business ownership?

David Cordover answered: Can you demonstrate value for them? All the words you're using here are very negative; you need to find a positive spin because I'm not going to pay for something which sounds so negative.

5 answers • about 11 years

Incorporation

Best way to incorporate a software company in the USA?

Attorney Dan W. Kehr of Kehr Law, APC answered: The best way to incorporate a software company in the US is to request a consultation with a US-based attorney. Start by seeking an attorney in the state where you plan to hire your US-based sales manager. Answering this question in full without knowing a lot of business details will lead to an inaccurate answer for your company's specific needs. Therefore, a consultation is best to obtain a full response. During the consultation you will be asked about the existing business, the targeted states for transacting business, any proposed location for your sales manager(s) and other business activities in the US. Other variables involved in answering your question include tax implications, existing and estimated revenue and gross profits, estimated employees over the next year in the US, and a slew of other details. Once an incorporation state is elected, an attorney can assist you elect a business entity type and ownership structure most beneficial to your business needs.

6 answers • about 11 years

Investments angel investing Seed Capital

What a startup needs to know about investment from beginning to acquisition?

Eugene Buff answered: I strongly disagree with the first answer - of course you are building to sell! They key is how fast and what is the multiplication factor for investors... But back to the question itself, I think the most important thing to remember about investors and fundraising is that you are not just getting money - you are selling your company piece by piece. So at each round you need to be sure that what you get is worth what you give away. Simple math might show that at the end it will not worth much for the founders. The rest are details of strategy and specific business and need to be discussed directly. Happy to talk.

3 answers • about 11 years

Delegation Leadership CEO Coach

What are your three (3) tips for delegating "up" to people more skilled than yourself?

Liz Parker answered: Having been in senior management and a CEO for many years, I have found that delegating is not only a skill but also an art. You question is very interesting as I assume that in most situations you would be delegating to people more skilled or more knowledgeable about the task or project than you are. A good manager knows their limitations and their role which is to manage rather than do. Therefore the rules on good delegation techniques still apply: 1. Identify the right person or team with the right skills and experience to do the work. It sounds as if you have done this. Write down the reasons that you feel that they will be better placed to get the best results and portray this to the person up front. 2. Be clear on the level of delegation that you are giving to them. There are 9 levels (if you would like to know these, please let me know). This includes a detailed briefing to outline the tasks/outcomes. 3. Negotiate the timeframe, reporting and results. Don't tell, ask - then double the time they estimate. Most of us underestimate the time anything will take. By providing the person with extra time they will feel much more positive about the tasks and be confident on delivering the outcome. Negotiating the timeframe, reporting and results is the most important step. Never dictate this as you really want a good outcome and this will only be achieved if they are part of this decision. Please call me if you would like some more practical help.

4 answers • about 11 years

Online Marketing Internet Marketing

What's the worst thing about marketing your business online with paid ad networks?

Joseph Peterson answered: (1) Paying for clicks you would have had anyway. Many people know precisely which site they're looking for in advance. Googling the site and then clicking that paid AdWords link is simply our lazy way of getting where we were already going. And there are cheaper ways of providing visitors with short cuts. (2) Paying for non-customer traffic. I don't mean non-converting traffic. Rather, I'm talking about people who visit your site simply in order to promote their own service. You'll be paying for the privilege of hearing more sales pitches. After all, these people find you the same way as prospective consumers. (3) Providing Google with data about your traffic enables Google to know more about your traffic than you do. Recently Google has begun withholding more and more information. One way or another, that data will be sold back to the same customers who provided Google with the data. (4) Renting space often leads only to further dependence on rented traffic. The same money can be spent on other services and assets that improve content and visibility or expand one's online footprint in terms of actual holdings.

4 answers • about 11 years

Sales

How to learn sales quickly?

Giacomo Balli answered: The high-level answer as you can't. Sales encompasses many aspects and techniques that you can "learn" (as in being able to do rather than just knowing only through practice). When you are selling, the emotional/human factor influences every single aspect of a sale and therefore you need experience to find the best strategy but then be able to adapt tactics on the fly. However, to give you something useful, you should pick one or two of the elements of sale, and read about them. Depending on your product/market/channel, you will be able to pick form different pools. I personally like negotiation and price psychology. Another great thing about sales is that it doesn't have to be about making an actual sale. You can abstract the teachings and apply them to everyday life with much more casual interaction you can use to practice. Happy selling!

10 answers • about 11 years

Real Estate Development Real Estate Real Estate Investing

What are the best books or resources to learn about real estate development from scratch?

Terence Young answered: This should help you out: 1. Property Development for Beginners: A Beginners Guide to Property Development by Steve Chandler http://www.amazon.com/gp/product/1482580551/ref=as_li_qf_sp_asin_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1482580551&linkCode=as2&tag=pittspropedea-20">Property Development for Beginners: A Beginners Guide to Property Development</a><img src="http://ir-na.amazon-adsystem.com/e/ir?t=pittspropedea-20&l=as2&o=1&a=1482580551 2. Real Estate Development: Principles and Process by Mike E. Miles http://www.amazon.com/gp/product/0874209714/ref=as_li_qf_sp_asin_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0874209714&linkCode=as2&tag=pittspropedea-20">Real Estate Development: Principles and Process</a><img src="http://ir-na.amazon-adsystem.com/e/ir?t=pittspropedea-20&l=as2&o=1&a=0874209714 3. http://www.masterycoachingterence.com/

3 answers • about 11 years

SEO Search Engine Optimization (SEO) Sitemaps

How important is it for SEO to have an up to date sitemap for an online marketplace?

John Doherty answered: Hi there - There are two parts to the answer. First, it's very important to have a site map that is both current and does not have any URLs in it that return a status code other than a 200. Even 301 redirected URLs should not be in there. Also, the site map should not have more than 50,000 URLs. If it has more, then create multiple site maps and list them in an index site map. Second, site maps are a great way to get content *discovered*, but they won't necessarily rank well. You need the URLs to also be easily discoverable on your site through internal linking. I hope this helps. Feel free to book a call with me if you'd like to discuss more. John

6 answers • about 11 years

Business Development Transparency Business Strategy

What are some impacts of Non-Transparency?

Tom Williams answered: My background: I've built several products that anonymously allow employees to communicate their concerns which also measure the impact of specific actions or inactions of organizations and leadership. The biggest negative impact of an organization that isn't very transparent is a lack of trust by employees and often customers. A lack of trust will erode employee engagement amongst top performers. Hope that helps.

3 answers • about 11 years