While it is easy to market your business to an imaginary group of people this will not produce accurate indications of your potential success. Additionally, many new businesses turn to family and friends. While this is an appealing idea, keep in mind,…
Just like 99designs, there are many other great tools on the web for entrepreneurs to take advantage of. One key service to take a look at is Launchrock. Launchrock allows you to set up a “launch page,” which is the page that is shown on your domain name while your website is being built. There is no reason to leave your domain blank during website construction as a launch page is a valuable tool. It not only represents your company and gives you a chance to tell the world what you do, but it also allows you to collect email addresses from potential customers. These will be valuable when you are beginning your marketing. In fact, this is exactly the service that Launchrock.com offers. Launchrock offers an easy to use site builder that allows you to make a two page website that allows you to give basic information about your business and collect email addresses from potential customers. Another page allows the now registered customers to share the page with their friends through a variety of social networking options including Facebook, Twitter and Tumblr.
“There are more than 27 million businesses in the United States. About a thousand are huge conglomerates seeking to increase profits. Another several thousand are small or medium-size companies seeking their big score. A vast majority, however, are what economists call lifestyle businesses. They are owned by people whose goal is to do what they like and to cover their nut. These surviving proprietors hadn’t merely been lucky. They loved their businesses so much that they found a way to hold on to them, even if it meant making bad business decisions. It’s a remarkable accomplishment in its own right.”—Can Mom-and-Pop Shops Survive Extreme Gentrification? - NYTimes.com (via jenbee)
Many people have asked me if I could explain search engine optimization. In this web based world that we live in, Search Engine Optimization, better known as SEO, is key to success. This first SEO post will just be a basic overview of the first steps you must take to optimizing your site for search algorithms. A step by step guide will be posted soon. Please take advantage of these tips before the guide is posted as it will save much time and even make your site more appealing in the short term. The factors that contribute to the algorithm that is Google’s search bot are:
External links on other websites to yours
Freshness of content
Technical soundness of site
Relevancy of data
Time site has been on web
Link popularity of a specific page
Let me elaborate, the external links on other websites are important as search engines such as Google are driven to organize websites by the amount of other websites linking to it.A website with hundreds of thousands of websites linking to it will be listed much higher than a website with few.Be careful though, as most social media links do not apply to these rankings.In addition, over optimization, or purely posting links around online in a spamming type manner can earn you penalization by Google, such as ban or becoming buried in the listings.Freshness of content and time on the web are other major factors as the engines look for the newest material to list first.New content will make you appear more important to Google.A blog on your website is a solid way to be sure that the content stays fresh and up to date.In addition, make sure the data and text on the site is relevant to your company and keywords.Technical soundness of site is crucial as well.You cannot have broken links or elements of the website not optimized.By making these changes and being sure that your site fits this framework, you are already well on your way to moving up the Google rankings.Keep checking back for future E-Tips, including and SEO step by step guide.
E-Tip: Structuring Equity when bringing on Investors
When starting a company, many entrepreneurs wonder how they should dole out shares in their company. Even structuring an agreement with your partners can turn into a messy situation. This can be especially difficult when bringing in external financing. I recommend that you use the 3 T’s to structure how you would divide your company:
Time would include how much time have you invested in your business since inception. This is extremely important to consider as some entrepreneurs have invested years of time into their business. Talent would encompass all of your skills and knowledge. Was it your business idea? How did you develop it? What value did you add? How can you help it move forward? These are all important questions to consider when evaluating talent. Treasure is exactly that, what investment did you put into the business? How much will other investors put in? How do you value that? Remember that once people get their skin in the game (ie. put their money into the business), they will usually become extremely invested in the business in both the time and talent categories. I will touch on this later.
Many investors feel that because they are taking monetary risk, they should be receiving a significant chuck of the company. While it will come down to your negotiating, you must consider your time and talent. While as an entrepreneur you may have only had limited funds to invest yourself into the business, it is important to remember what you bring to the table.
Despite this, I want to urge you to completely consider what value venture capitalist’s can add to your business. Too many times on Shark Tank have I seen entrepreneurs leave empty handed because they would not give away merely 30% of your business. With venture capitalist’s with such expansive networks and experience, it confuses me why an entrepreneur would not give 30%+ of their business to a magnate such as Mark Cuban. Remember that while an investor may be at first contributing equity, they are businessmen as well and will want their investment to grow. Evaluate and talk with them about what time and talent they plan on contributing. Get to know both sides and see the total value that an investor is adding. Owning 100% of a company making $30,000 per year is much different then owning 30% of a company making $1,000,000.
Today, I heard a substantial serial entrepreneur, Larry Blumsach, discuss how to sell your products to potential customers in a group setting OR how to pitch your business to a group of investors. StorySelling is ultimately using a real-life story from your life in a sales pitch. It lets those listening become engaged and learn about you as the speaker. I found his theory very intriguing and loved how he discussed using a story to attract people without boring them with the same speech they always hear. IN ADDITION, remember ultimately people invest in YOU and not your company necessarilly. By applying these story telling tips to optimize StorySelling, you will have instantly set yourself apart from the masses. I recommend that you start your speech with a story, as it will instantly engage the audience and nicely transition to your sales pitch after.
Steps in telling a story:
Describe a location and a setting.
Describe the characters (Physical and Psychological)
Describe the goal and/or challenge
Encounter an obstacle
Crisis and Climax
Here are the steps to transitioning story telling into StorySelling:
Look and see
Listen and hear
Yes and … (how to approach a disagreement. Make sure you show the other person that you see their side…As in “yes, I see what your saying…, what do you think about this…”)
A few day’s ago I posted about a cool concept called 99 Designs. I have to say that I have been extremely happy with the work that has been coming in. In just a few short days I have now seen 43 entries into my contest. I really like how the designers will take the time to work and talk with you despite not having your guaranteed business yet. Three designers have been in constant contact with me and it has been extremely efficient as 99 Designs has made the forms of communication quite simple. I highly recommend you take a look at 99 Designs for your creative needs and I look forward to sharing my final logos and bit of a run down about the experience at the conclusion of the process.
I know this doesn’t exactly pertain to entrepreneurship but I just wanted to toss this out for discussion. Why would you ever try to create your own retirement fund by taking a month’s salary to buy Facebook stock right at the IPO? Doesn’t seem like people are making smart decisions right now.
I found this to be an interesting article regarding how divorce causes kids to grow as entrepreneurs. As an Elon Musk fan, I found it extremely interesting to hear how Steve Blank attributes his success as an entrepreneur to his parents divorce and the effect it had on his growth as a person. I would love to hear your insight on this article so feel free to post and discuss.
I found this article quite interesting as crowdfunding is an extremely pivotal point in America’s push for increased entrepreneurship. Crowdfunding allows you to post your venture on the internet in order to attract possible “investors.” I hesitate to call them investors properly at this time as there are still some legal implications that are in the final stages of being sorted out to allow for equity to be essentially traded through crowdfunding. Currently crowdfunding is more or less a way to to raise money without much to gain for whomever is the source of the financing. Very soon a fully developed system will be available to allow entrepreneurs to find partners and financing through equity. At this time, and for any project, I do recommend giving crowdfunding a look as it is a source of financing, which we all know is so crucial to the success of your venture.
“When I look at Kickstarter, I see small businesses that have been funded by their customers. I see the acceleration of this shift away from the industrial manufacturing ideology to more of a maker economy. And I also see an idea so powerful that the company name has become a verb.”—
Logo’s are a crucial aspect of branding your business. Today I was questioned about the logos in which I had in mind, and was recommended to give 99 Designs a try. I was unaware of this company’s existence and was inspired by their business model. They connect entrepreneurs and those who specialize in branding and logo design in addition to other services such as website design. I was inspired to share their business model as instead of creating a logo for you, you actually host a contest in which various designers view your project and enter the contest by creating a logo. 99 Designs offers several packages depending on what you are looking for at different price points. I found the $299 package to be quite reasonable as in 7 days or less you will accumulate multiple entries in which you are in control to choose from. In addition, their money back guarantee is crucial to entrepreneurs on a budget who do not want to get stuck with a sub par logo after significant investment. You can visit them at 99designs.com.
Hi all. I just wanted to check in with everyone and let my followers know what the current status of both me and the company are at.
We are approaching the launch date that I had chose in June to make the products available to the public. We are hard at work and I cannot wait to show everyone the steps that we took in order to bring Game Day from conception to a fully operating company. Please bear with me as I am hard at work to make sure everything is running smoothly at the moment. I will be sure to fill everyone in very soon, just bear with me.
As a student entrepreneur, I have been consumed the last two weeks with exams preparation and final presentations. At Babson, many of the final presentations entail simulating the entire process of launching a company. This is high intensity work as we have about a week to come up with the business idea, run market research, test feasibility and then create a business plan (ALL OF THESE I WILL POST “HOW-TO’S” IN THE NEAR FUTURE). I feel that I learn something each time we run these simulations, and I cannot wait to apply my learnings and knowledge to my ventures.
Please just bear with me as I finish my finals and prepare to bring Game Day to the public.
“You can buy Twitter followers (if you’re willing to spend money stupidly), but you can’t buy a living network of people who are invested in you as a person and/or a creator. You have to earn that through work, and by being a person worth friendship.”—
This is where I see the weakness in Facebook in the future. Facebook is making its money by trying to allow a company to buy your friendship. This will only work for companies that are you want to associate with in that way and the problem for Facebook is that there are not that many companies that fit that bill.
I would like to share a quick Tumblr post that came across my Tumblr feed. As failure and entrepreneurship go hand in hand, I felt It was important for new, young entrepreneurs understand that failure is all part of the journey. You must learn from your failures, and apply your new knowledge to your next venture. Remember failure is just an educational experience, NOT the end of the road.
While our website is under construction, I am excited to share with you our first QR Code. This version of the code will take you to a mobile version of our website. I will use this QR Code on all promotional material such as business cards and stationary.
Welcome to “Game Day Pursuit,” a blog that will follow me as I launch my company, Game Day Men’s Products. Game Day was founded in January of 2012 and officially became Game Day Men’s Products, LLC in February of 2012. Here is a short overview of what “Game Day Pursuit” will be tracking from this point forward:
This blog will follow 21 year old co-founder/ CEO Demetri Demascus as he builds the business from start-up to a fully functional company. He will be participating in Babson College’s Summer Venture Program from May 21 to July 26 so be on the lookout for constant updates pertaining both to the Summer Venture Program in addition to Game Day Men’s. The purpose of “Game Day Pursuit” is to follow a true entrepreneur from the inception of a start-up forward. Until this point, there has never been a way to truly track every step of a business as it grows. ”Game Day Pursuit” aims to track Demetri in both his business operations and life as an entrepreneur. Whether you are an entrepreneur yourself, interested in business or are just plain interested in following Game Day as it grows as a company, “Game Day Pursuit” is sure to keep you entertained and provide you with valuable lessons that can be applied to any business.
I have no intentions to end this blog after the Summer Venture program as I hope to fully track myself as an entrepreneur from the start of Game Day Men’s Products forward, documenting any ventures that I pursue. Please stay tuned for an in-depth view at what it takes to start a business from scratch and the journey that comes with it.
For men, grooming and maintaining a clean, youthful appearance are essential to success in both the personal and professional setting. Game Day Men’s Products was started in 2012 by a doctor who recognized this and set out with his son to offer the world the same quality products available to patients. Game Day brings to life his vision of offering all men the highest quality products without the high price tag. With looks such an important part of today’s society, Game Day products ensure that you will always be ready for whatever the day brings your way. Game Day products are formulated to enhance your appearance, allowing you to exhibit confidence throughout the day. All Game Day products have been formulated to provide the best possible, longest lasting results. Even better, when you use Game Day, you know that you are not sacrificing quality for price. All Game Day products are priced at everyday prices, so you no longer have to settle for less than the best. Regain your confidence by making Game Day products an essential part of your daily grooming ritual.