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What is the one thing you wish you had known before you started your own magazine?

3

Answers

Aayush Arora

Performance Marketer, Copywriter, Funnel Optimizer

Everyone who starts a magazine has definite passion in their respective genre and have certain idea about their audience. The one thing they wish they know, sometime after starting out, is that striking a balance between the content that users like to read and what investors (ads) like the viewers to read, isn't always easy. To get ad investors, you have to have audience and to sustain the audience, you need to have the investors' money. Think it through.

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Melissa Galt

Marketing Coach|Small Business Growth Strategist

I started my business unexpectedly in 1994 when I found myself out of a job with $70K in debt. While it took me 90 days to land my first client, I picked up a job supervising a catering kitchen, and also went to teach evening education classes at three local universities in Atlanta. It is often better to have a deadline or be forced or you won't make the jump. It takes everyone a different amount of time. I was debt free and earning six figures in 18 months.

Humberto Valle

Get Advice On Growing Your Real Estate Business

It sounds like you need design with backend programming to accomplish this. If you are interested contact me directly to go over your tech. needs for this... Maybe Visit CodyL.com They are a team I am aware of that implement code with easy to use backend for clients own updates and build tools for the websites their work is more than just web design.. And kind of cheaper than most... Not selling but trying to help here... Humberto Valle

Zack Rosenberg

Startups, Sales, Media, Advertising

Make certain songs or part of songs, interviews, etc available until you get X amount of thumbs up on Youtube or Likes on Facebook. Gate it so they have to bring a crowd to open up the doors to new content.

Otilia Otlacan

Business Operations | Leadership | Ad Tech Expert

It's difficult to give specific advice without knowing the actual traffic level(1) and type of ads and placements(2) you have on your website but I'll make the assumption that those visitors don't record visits of extraordinary length resulting in at least several hundreds of thousands of pageviews/month. In this case, your best bet would be to sell your ad space in a tenure model (per month, for example) as opposed to CPM or another, less advantageous pricing model. This would ensure you're covered for any traffic fluctuation, don't have to deal with monetizing remnant inventory, and usually translates in higher eCPMs overall. Tip: offer campaign features not usually associated with smaller publishers, as a strategy to stand out. For the Politics vertical, I'd suggest looking into a guarantee that no competing campaigns would be displayed simultaneously (you can do so in pretty much any ad server out there). (1) pageviews, ad impressions (2) number of ad placements, sizes, location, type of ad creatives

Edward Gotham

Marketing for consumer brands

Hi, I'm Ed. I'm Head of demand generation for a Uk startup. I've built our blog and academy area from 0 to over 20,000 hits per month generating over 500 leads/month. This sounds like a brilliant idea. Especially in a market where it's not so crowded. I'd say the key points are to: 1.) Make sure you fully understand the companies you are working with so that you can create really high quality content 2.) Do some work for free initially to get some really great case studies. You will need the social proof to convert clients. 3.) Make sure you track the ROI on your content marketing as closely as possible. In the end this is what is important. Don't focus on traffic, focus on quality leads. 4.) Make sure your content marketing has a very clear next step. This may be a CTA at the end of blog posts or a drip campaign with other relevant marketing after someone has signed up for an ebook and given your email. 5.) Don't just focus on the content. Design is extremely important. 6.) Always spend time on marketing your content. Many people forget to do this after sending a huge amount of time creating the content in the first place. You have to work at it to get great content seen. There's a great company in the UK called distilled that are hired to do a lot of really creative content marketing for companies around the world. I'd check them out. Let me know if you're interested in chatting further and we can potentially set up a call. Good luck! Ed

Bill DAlessandro

E-Commerce Pro. CEO @ Elements Brands.

My best guess is that you'd get it close to wholesale price, which is anywhere between 30% and 50% off retail price in the electronics industry. You'll need a sales tax license number to prove you're a business rather than an individual. Pricing requirements will depend on the manufacturer. Some will have a "MAP Policy", which stands for Minimum Advertised Price, that dictates the price you advertise on your website. Note that "advertise" and "sell for" are not the same thing - that's why you see some sites that say "add to cart to see the price" - they're circumventing a MAP policy. Unless they make you sign a MAP Policy though, you should be free to advertise and sell at whatever price you want.

Peter Kemball

CEO at The Kemball Group

Complete the following sentence Stealth has developed or is developing .... that solves the problem of ..... for ...... When completed you should be able to identity venture capitalist firms who wish to and or have made investments in that space. Corporates are more problematic if your reasons for stealth are to avoid the industry they are in. Angels are also problematic we typically syndicate which raises more possibility of them doing due diligence where you might find your cover blown. Hope this helps

John Wilker

President at Denwhere?

I know the Firedog routers, have an extender device that's explicitly for extending. Apple Airport Expresses have an "extend" mode as well.

Rahul Varshneya

Helping companies grow faster.

A prototype will not get you an investor, to be honest. This is just a fallacy. If you can fund the prototype, launch it in the market, get some traction from users. See if your mobile app resonates with your users. You need to track whether your app is able to retain those users so that they keep coming back to it. If you have a good amount of retention with the first few set of users (100 or 1,000), that's a good pitch to take to an investor. Investors are not looking at ideas, they're looking at businesses that can get, retain and engage a customer.

Paul DeJoe

CEO \ Angel Investor \ Founder \ Author

The items that you're talking about in this situation would be immaterial in my opinion. Before you even get to the technicalities of accounting properly for something like this, do you really want to start a new business where your first transactions on your financial statements are transferring assets (furniture is not an asset even) that are all worth essentially nothing right now? Your entire focus should be on getting customers and not speaking with an accountant about the treatment of something that doesn't matter.

Sales Management

How to compensate a sales person?

6

Answers

Oliver Lopez

Entrepeneur. Sales & Marketing Alignment Expert.

Hi! I would be careful in compensating only by commission. This will give you the kind of sales reps you might not want. If you were to invest your time, would you not want to receive some kind of fixed fee for the invested time? Also, by paying commission based, you are telling the sales guy that you don't know if the product will sell, but that you don't want to be the one risking the time invested. I'd go for a mix.

Steven Hoober

Strategist, architect, designer for every screen

I don't think anything much has changed, and the only result is tightening the business rules. Two codifed bits of CASL are similar to guidelines and regs in other countries: • Responses to a current customer, or someone who has inquired in the last six months. • Messages that provide information about a purchase, subscription, membership, account, loan, or other ongoing relationship, including delivery of product updates or upgrades. So, you may already have noticed they bug you a lot every once in a while, to check your account settings, etc. That's to get you to come to the site, manage your account, and they call that an ongoing relationship. Make sure that's at least every 6 months and you are within the letter of the law. Probably. Charities have a specific exemption. This may not be the exact wording of the law as I am using a general reference. I am not a laywer, so check with yours: "Messages sent on behalf of a charity or political organization for the purposes of raising funds or soliciting contributions." There are some others as well that might allow you to say, disclose where you got their name from, etc.

Hernan Jaramillo

Raised $100M for startups, BTC since 2013

Google Analytics, Mixpanel or Kissmetrics are good tools that allow you to do it. The only inconvenient thing about the last 2 is that you need to set up "events" to understand your flow it and it might just take too much time. If you've configured your ecommerce module on GA you will probably receive this data now and can sort with a good level of detail when a conversion/transaction happens and where it came from. Banner Ads when run on Google Adwords are easily tracked by your GA account. Email is a little bit trickier because it requires that every single link within your email comes with a campaign tracker, but that also can be built on a fly with Google Url builder https://support.google.com/analytics/answer/1033867?hl=en Let me know if you want to expand on the subject :) If URL campaigns are not an option then you might need to set up "event" on GA to track something like a referral.

Maciej Jankowski

4 hour CTO, developer mentor

You can either dissect the inner workings of ajax calls (if the website has any) or write a regular full-page scraper which traverses the product catalog. Popular choices for scraping are casperjs, beautiful soup, mechanize, etc. Each having its strengths and drawbacks - casper for instance can emulate the browser behavior, while the rest are much less resource intensive but often require going through extra hoops when the website is complicated.

Daniel Freedman

High-tech entrepreneur, VC, Mentor, Executive

Personally, I'm a fan of sales comp plans being tied to ongoing performance. Sure, the salesperson should get some of that long tail, but only while he continues to work productively at the company. Once he leaves, he should lose the tail, since someone else will likely need to step into the relationship with his customers. But there are too many variables to give a universal answer. The true answer is this: You need to pay your salespeople enough so that they are motivated to keep working for you rather than seeking alternative employment. This means you need to analyze at-quota pay, and ensure that your base and commission structures provide a market-level of compensation at quota. You can muck with anything you want as long as that goal is met.

Finge Holden

Conversion Rockstar and CEO of ConversionLab.

Having a smart call to action at the end of each blog post is generally a good practice. Make it stand out, and make sure to add value to the visitor by signing up. I strongly recommend A/B testing (also called split-testing) your sign up call to action. That's the only way for you to improve the results of the signup rate. In regards to the conversion rate it's extremely difficult to predict. Depends on your value proposition, quality of content, your industry and so much more. Best advice is just to get started and be smart about the a/b testing. If you are running Wordpress I can strongly recommend OptinMonster to manage your call to actions. Unlike other solutions you won't have to pay a fortune, and it's very good. I'd also like to throw some flame to the fire on the ever ongoing discussions about popups. They receive a lot of flak, but are extremely effective. You can expect up to 200% more signups by using exit intent popups. Again - make sure to offer value to the visitor.

Michael Grabham

Creator of Package Guard, Customers are heros

I have been working with creatives for years and the ones who refuse to follow standard business practices such as planning are normally the ones you don't want on your team. Creatives are great but if they don't understand the importance of business planning, resourcing, money management they are not going to be partners... only employees.

Andrew Watson

Principal System Engineer at a Fortune 500 company

I've used the Foursquare API for a lot of different kinds of applications, both web and mobile. In my opinion you should not store any venue information in your application for a couple of reasons. First, I think the terms and conditions you agreed to when signing up for an API key prohibit you from doing so. Second, That data is subject to change at any moment so you're better off just referring to them to get it whenever you need it. If you have any other questions about the Foursquare API I'd be glad to talk to you and see if I can help. Thanks

Laura Moreno

Growth Hacking Expert. Growth Hacking Podcast Host

Hi there! 1-. Keep on asking for feedback for your product and adjust it 100% to what your first users want 2-. Go for the wow factor. Make their product amazing (think about an iphone design) and last 3-. Make sure these early adopters use your product everyday (or as many times per week as they can). This will make them talk about your product with others. Others: - give discounts to the early adopters and to the new users when an early adopter refer to someone the product All the best! Laura

Christopher Gory

Clarity Expert

If you're in Canada, there are two options: - Some insurance companies will offer employee benefits coverage to companies with as few as 2 employees. - You can join an association plan (there are many out there), where you're part of a larger pool of many small companies and the claims & premiums are spread across the entire pool.

Daniel Freedman

High-tech entrepreneur, VC, Mentor, Executive

Any suit run by a competent lawyer will ensure that the parties named in the suit include everyone who might be able to pay. So, while your LLC might own some products, it may not be the only entity sued. You might be sued, along with all kinds of other people and companies. I'm not saying there's nothing you can do, but you certainly cannot escape having to defend a suit. Anyone can sue anyone else, even if the suit will ultimately be unsuccessful. You ask how can you handle being sued without going to court? The answer is negotiate a settlement that results in the lawsuit being dropped. So, what have you got to trade? What damage could you do if they continue to sue you, and so on.

Hernan Jaramillo

Raised $100M for startups, BTC since 2013

It all depends if there is room for arbitrage, meaning if you spend $100 will you make $150 or $200 or whatever your conversion rate would be for your business. That requires that you need to have some sort of knowledge on how to create an adwords account, selects the copy for you ADS (text or display ads), select if it is search or Google's display network and then run the ads by bidding on keywords or the alternative targeting methods google offers. Run $50, $100 or even $500, target specifically based on geo location, target age and be sure you have the proper tools on your website to measure conversion. That is, you know how to build url addresses that track when you make a sale? get a call or whatever the activity you are trying to convert for. I happen to have a free $100 credit on google adwords: hopefully no one will read it before you do :) 3K3WH-AFKNW-ES3F And if you want to test other growth hacking ideas more than happy to hop on a call :)

Madhu Singh

Business and Intellectual Property Attorney

This is a tricky question as you are entering a gray area if you are using material from Book Z to inspire your own book. Derivatives works are highly litigated and there is case law that you could turn to to help you make this decision but based on your example its going to be a fine line. You would have to be able to distinguish the products as two very separate works. Since the original book Z is inspiring your new book this may be hard to do. It might actually be easier to talk with the original author about your future plans and develop an agreement between the two of you where he waives any claims he might have here in exchange for recognition in your book. Just an idea--FYI- this is NOT LEGAL ADVICE. You should consult with an attorney in more detail here.

Evan Luthra

Entrepreneur, Investor and Speaker

If you have already validated the product, I would suggest you to do some market research. What is the high and the low end that the consumers are willing to pay. 1. How many "Bulk Buyers" are out there and how much do they pay you per home compared to how many "High-End Buyers" are out there and how much do they pay you? 2. Whats the Acquisition costs on both these markets? 3. Can you target both at the same time? The point being that you will need to understand your market better. Allow me to compare my business to yours and explain. I provide Services in Digital Solutions. In our Market we have clients who are willing to pay $1000 for an iPhone and then I have my clients like CitiBank who paid in excess of $1,000,000. Theres only one Citibank but theres 100's of 1000's "$1000 clients" You need to decide is it worthwhile to pursue and deliver on those small clients or go for the big fish. I will need to deliver a 1000 Small projects to compare to what I made in revenue to that one Single big project. It just doesnt make sense for the overhead I will need to put in to manage a 1000 clients. In the end you will need to get that same ratio out for your business and then choose the market you want to target.

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