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Accounting

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

9

Answers

Richard Lockyer

Business Intelligence + process automation for SME

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.

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Ali Maadelat

President at The Lorenz Marketing Group

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.

Aliza Sherman

Virtual Work Expert and Virtual Work Coach

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.)

Brent Halliburton

Product guy, start-up guy, advertising guy.

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.

Ali Maadelat

President at The Lorenz Marketing Group

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.

Heather Anne

Co-Founder at Repable & Startup PR Professional

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)

Ali Maadelat

President at The Lorenz Marketing Group

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.

Richard Lockyer

Business Intelligence + process automation for SME

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.

Zamir Javer

Professional Services Inbound Marketing

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.

Dan Martell

SaaS Business Coach, Investor, Founder of Clarity

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.

Jit Salunke

Growth hacker in the making

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.

Stacey Alcorn

Empire Builder

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.

Growth Hacking

How has Uber grown so fast?

16

Answers

Bronson Taylor

The Growth Hacker

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.

Malcolm Ong

Co-founder @ Terminal 3; Co-founder @ Skillshare

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.

Mijael Feldman

CEO & Co Founder at Übank

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.

Dan Martell

SaaS Business Coach, Investor, Founder of Clarity

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.

Michelle Lei

Apparel sourcing and manufacturing expert

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!

Dan Martell

SaaS Business Coach, Investor, Founder of Clarity

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.

Jonathan Sexton

Clarity Expert

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

Dan Martell

SaaS Business Coach, Investor, Founder of Clarity

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/

Dan Martell

SaaS Business Coach, Investor, Founder of Clarity

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.

Balind Sieber

Brand Strategist & Creative Director

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.

Dan Martell

SaaS Business Coach, Investor, Founder of Clarity

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.

David Berman

Bootstrap Expert

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!

valéry bonneau

Marketing expert: OTT, video, monetization, cloud

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.

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