Ozan DagdevirenAuthor, Startup mentor. Focus on people decisions.
Bio

Author of Startups Grow With People | Mentor for Startups with focus on People & Culture | Gamer & Pipe Smoker | Co-Founded 4 companies, 2 of which are startups



Recent Answers


Thank you for all the answers! All three up to now have been more insightful than the next!


Hi,
Many software solutions, "Sage" comes to mind first, have solved this problem almost 10 years ago. So if what you are trying to achieve is limited to what you've mentioned in the post, a simple accounting software will get the job done.

Someone more junior in your organization can do the actually issuing, you can see all revenue - costs - etc with a single click.


One word: Culture.

One sentence: Culture is the reference framework through which every person in the company makes decisions and shows behaviors.

In essence, people are very social animals, and they value comraderie, sharing, trust and most importantly belonging to a huge extent. If you can create a workplace that people feel that they belong, you will see great employee retention.

I am currently working on Cultureboom to address this problem for Startup Founders. Cultureboom helps tech scaleups build growth-ready cultures by bringing in data and tools.


Hi!
Why don't you try starting "a" business before attempting to start a "chain" of businesses. I'd recommend a search around the keyword of "bootstrapping a business". There are many blogs out there that have great content on that such as commonwisdom.co.uk


Install a browser plugin like "Alexa Traffic Rank" or "SEOQuake" or some kind of Domain Authority Checker, and make a habit of taking a look at the position of a website when you visit it for the first time. It'll help you greatly in understanding what type of websites / content work, which don't.


Hi,
I think this a great problem you are having!
So first thing first, congratulations on making it thus far!

I understand your frustration. The solution, however is fairly simple. Focus on what matters.

"What matters" does not have a universal answer but a specific one. In you case, I'd start by asking these questions to calibrate your position...
1) What is the return/repurchase/churn of your existing customers?
2) How do new customers find you, from which channels? How do they make the final decision to buy?
3) How dependent are you on the income from this project?
4) Where do you want to carry this thing? In other words, your vision?
5)What is the most important factor in the success of your business?

Instinctively, I would advise with the following approach, but its best to ask more Q's about the business so as not to give a wrong advice. But here it goes:
You can always create better products & keep building as long as you have customers who want to buy; but if you don't have any customers who have a demand for you product, you have zero revenue and no business.


One thing you can not do (should not even attempt to do) is to change the market's demand for a service or product. It is what it is.
The best strategy is to adapt.
So I would approach your situation by asking the following question:
What is in demand, needed, frequently used etc by the people (i.e there is market demand for it) AND is in the intersection of my skills, know-how, interests and talents?

You might be a great mechanical engineer, but try taking a broader perspective if there isn't talent for this job. What new skill & know-how area can you more easily master than others, which there is also a good demand for?


Hello,
So usually; at least in my opinion, the best search for funding follows validation from the market, a certain amount of recurring revenue and proof that business works (and can scale). Do you have these?


Hi.
What you need to understand first is this: For someone to give you money, you need to give them something that they want.
So;
1. Research what people pay money to, understand what they want
2. Build skills, products, or services to answer people's need/want
3. Profit.


Hi,
The good thing about an online business is that it's location independent. However; the basics of building a business still apply.
These are the most important:
1. Good - growing businesses are the ones which solve a problem. e.g. I need organic eggs in my area, but can't get them.
2. The need / problem to be solved is shared by a large enough market. e.g. Those who need organic eggs delivered to their home are not 1% of the market for online shoppers but a decent chunk.
3. You design a solution, thinking MVP. (research what an MVP is if you are unfamiliar)
4. Test out in small groups, do customer interviews. i.e. validate your idea - confirm the market really responds to it.
5. Invest more of your time, energy, money to building.
6. Keep iterating.
7. Solve problems and focus on execution quality.
8. For all of these, you need to read and research obsessively around this topic.

Wish you the best of luck.


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