Marketing For Founders | Growth Hacking | Startups | Direct Response Marketing

Hiatus - MFF035

Have you ever asked yourself, what happens to your business if you get hurt or really sick? We break down the necessity to build systems in your company that allow you to take a hiatus, without slowing down progress.   Jack speaks about his experience with Ruby and touches on outsourcing any sections of your business that cause you stress. In the long run, your decision to do everything, may hurt the success of your business.   More importantly, you can’t outsource your vision. Focus on what will be the most productive, not what could save you the most money.    In the instance that you have to take a hiatus, do what you can to ensure the direction and focus of your business are maintained, and the vision of your company is not lost. In some cases, a break may be exactly what you need to focus.   So on that note, we want to end the show with a fond farewell, and we will return soon! We are sad to say that our amazing and talented host Jack, has been diagnosed with an illness, but will be returning in the fall to start back up again.   Thank you for listening, and stay tuned for our return to Marketing for Founders!   Listen to this episode here: http://marketingforfounders.com/hiatus/

Good Money Bad Money - MFF034

In todays episode Tim and Jack discuss the differences between good money and bad money. Your host debates what type of startup money is safest, and what kind of cash can get you in a lot of trouble. Often when we start new businesses and ideas, it requires some sort of startup investment. It is easy to go directly to family or to sources of quick income to get your company lifted. However, we as smart entrepreneurs, must have a plan and action for the future, and a way to pay that investment back. Customers, research, and a sales funnel are some of the things you will need to get going.    Bad money is any type of cash flow that can be traced to a personal emotion. Ask yourself what life might be like, if your company fails and you lose your families money. Bad money is also taking investment without a plan of action, or any customer relations. Good money is not only about where it originates, but how you spend it. Good money comes in many forms such as, venture capitalists, savings from previous work, and revenue flow before you quit your day job. We define good money by security, consistency, and coming with a backup plan. It may not always be the “rocket fuel” you are looking for, to explode your business into the green, but it will keep your life intact, and your stress levels relatively low.   Types of Good Money:   • A loan from a bank spent on equipment and gear. This can be used as collateral in a bankruptcy.   • Venture Capitalist investment comes with a time frame, so meet it with a plan to ensure the money is back before the time is up.   • Earning money while your business grows is the “best money.” No need to quit your day job until the revenue is enough to sustain your normal life.   • Having a runway. A savings account with the cash you need for at least 1 year into your startup.   Types of Bad Money:   • Investment related to your personal life. There is no collateral, and your failure will affect relationships.    • Any money that forces you to make emotional decisions, unrelated to the success of the business.  Listen to this episode at: http://marketingforfounders.com/good-money-bad-money/

Apps, Advertising, and Celebrities - MFF033

In today’s episode we talk about the tech fad of building apps, depending on ad revenue, and using celebrity endorsements to tweet about your company. Jack tells a classroom of Penn State Telecommunications Majors, who are working on a business idea, that not all problems can be solved with apps. Your success in business should not be dependent on software, or the next cool platform for users. Recognizing a trend versus a fad can determine a long-term success, or short-term failure. Find customers or other businesses in a similar market, and find out what their needs are. Try not to assume that a bundle of software will fix everyone's issues.   Many developers and new companies will turn to technology to begin profiting. In the age of advertising, many of these entrepreneurs will depend on ad revenue for all, or a majority of their income. This results in the advertisers becoming the customer, and the users feeling neglected. You are required to maintain a relationship with ad buyers, as well as continue to funnel views and clicks. Why not instead, create a product or service that helps the user, which you can also sell directly to them?    Pitfalls in business ideas:   • Relying on Ad Revenue to sustain profits.   • Depending on celebrity impact and flash popularity as a long-term marketing model.   • Believing that software can fix any problem for a person.   • Thinking that apps and digital services are a one-and-done business plan. Like many businesses, software takes constant maintenance.   Listen to the show at: http://marketingforfounders.com/celebrities/

Losing Focus and Shiny Object Syndrome - MFF032

In todays episode Tim and Jack discuss placing all your eggs in one basket, and how to recognize when you are losing focus. A successful startup will require as many resources as you can divulge. Time, money, or a mixture of the two. Many new businesses find themselves chasing after short-term traction, and losing focus on long-term sustainability of the company.  Don't get captivated by “shiny objects.”   The most focus is found when you are excited about one project or idea. Mentally preparing throughout your day, and then progressing every time you work on it. When you have multiple projects, some ideas will get neglected, or they will never see the finish.    What are some ways to stay focused?   • Using extrinsic motivators:  outside forces such as monetary, deadlines, or the need for a fancy car. They can drive us to focus, but can sometimes be stressful.   • Using intrinsic motivators:  internal forces set by yourself. They include facing challenges, being goal driven, or using your own vision for the future to motivate yourself.   • Focus on one project at a time. Work with it all the way to failure, or success.   • Chaos in business is bad, don’t make things harder than they should be.  Systemize all the processes that encompass your business and chaos gets reduced.   Listen to the show at http://MarketingForFounders.com/focus

Surviving Product Launch Mistakes - MFF031

In this episode Tim and Jack discuss a few classic mistakes in their careers launching products and online companies. Every market receives information in a unique way. Understanding how to communicate with your customers is the first step to surviving a launch. Tim tells us about his huge mistake of using an email marketing campaign on a customer base that hardly ever checks their email.   Once your product is live don’t forget about it. Collect feedback from your users and customers on how to improve features. If that doesn’t work, kill a section or product to allow time to explore new strategies. Remember, sometimes as an entrepreneur, you have to choose between really, really, really bad, and really bad…   Some Do’s:   • Set internal deadlines to ensure your product is ready to go, well before any real deadlines.   • Research your market, and learn the best way to communicate with them.   • Be prepared to refine or delete sections of your company/product.    • You’ll never get it perfect. Launch it, and let your users find the remaining bugs.     Some Don’ts:    • Never blindly follow a marketing formula expecting it to work for every industry.   • Don’t tell the press until you’re ready.   • Failure to continue marketing after you launch. You can’t quit and expect to keep making money Listen to the show at: http://marketingforfounders.com/launch-mistakes/