Startup

The beginner’s guide to beginning by a beginner

The beginner’s guide to beginning by a beginner by Danielle Geva
| Danielle Geva

If you’re thinking of launching a new project, here’s how I got started with Mypodnotes.

 

The Idea

A few months ago a friend suggested I write summaries for podcasts. The idea sounded interesting since podcasting is on the rise, and there’s no way anyone could keep up with the constant stream of new episodes. The best part was that I could test the idea without dropping anything. I started Myponotes as a side project, but after deciding to think like an entrepreneur I realized that it had the potential to become a business.

How to find ideas

Side projects, businesses, and high growth startups all start with an idea and don’t go far without commitment to pursue them. Even though you need both to succeed, it doesn’t seem to matter which comes first. The idea for Mypodnotes found me, but if you’re itching to build something of your own stop thinking up solutions to problems that don’t exist, and answer the following questions:

  1. What’s a problem that many people have?
  2. What’s the solution?
  3. How can I help these people solve their problem?

Think of as many problems as you can from your own life, and then ask your friends about anything that bothers them or wait for them to complain about it on Twitter. In the beginning it might be difficult to come up with ideas, but after you train your mind to think in this framework you’ll spot new opportunities everywhere.

When to commit

The bar for side projects is much lower, since resources can be restricted and failure doesn’t dramatically impact your life. So if you find an idea that intrigues you, go for it. This is an opportunity to get those creative juices flowing and learn some new skills.

Starting with a side project is also a good way to validate an idea if you have grander plans. If you’re unhappy at your full-time job, you don’t have to quit to find out if you’d be happier having your customers be your boss. I’m not a lawyer, but you should probably check your contract first to make sure there’s no conflicts so that you’ll have full ownership if you decide to leave.

After chatting about Mypodnotes with friends to gauge demand and the work involved, I found many people who were interested in Cliff’s Notes for podcasts. There just isn’t enough time to listen to every single episode, and no one likes to miss out. I also relate to people who remember key insights better by reading text over listening to audio. This was enough to take the side project seriously, but I only decided to fully commit to Mypodnotes once I saw actual traction on the blog.

It will take much longer for me to figure out a business model that works, but I’m in it for the long haul. All you need for building a company is time and determination, because you only fail when you give up on your idea.

How to name your business

The name Mypodnotes came to me randomly, and is pretty straightforward because that’s what appeals to me. Ignore the pressure to spend time searching for the perfect name, because you can always change it later on. Finding a name that’s unique and playful isn’t as crucial as making sure people can pronounce properly so that it catches on. Once you come up with a name, don’t get too attached to the spelling before you secure a domain and a Twitter handle. Try adding words like “The” and “App”, switching up vowels, or experimenting with new top level domains.

The Website

If you’ve ever heard of Lean Startup Machine workshops, then you know a business can start with a single piece of paper. Remember that when it’s time to create a website for your new idea. Instead of spending the next few months learning how to code, or figuring out WordPress.org again, I decided to go with Tumblr so I could focus on growing an audience for Mypodnotes. Your site is just a means to end, and the functionality you need to test an idea is usually offered by a third party platform. You can always build a custom site later on, when it’s time to scale. As you probably figured out, this section isn’t about how to magically create something out of thin air or how to hire a web developer. I’m a bootstrapped non-technical founder, so it’s all about distribution.

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Snapchat is Already Driving Ecommerce Sales

| Danielle Geva

Snapchat post

It used to be tricky proving the value of engaging customers online, let alone the fact that people were actually interested in talking about brands. Currently, there are useful tools which visualize brand chatter and prove that people are talking about ‘boring’ industries, such as banking and healthcare. Other advanced tools were also developed to aid in calculating ROI, in order to demonstrate that social media done right is good for the bottom line. However, support hasn’t been rolled out for recent social networks, namely Snapchat.

Snapchat itself has yet to offer built-in analytics or cater to brands. Since there are limited metrics available, only a small number of companies have chosen to experiment with the platform. Regardless, the absence from any social network isn’t stopping users from talking about your brand on that very platform.

Increased Word of Mouth

There is no doubt that social media buttons boost word of mouth and drive ecommerce sales. However, there are certain products that consumers would rather not share with their network. Consumers may opt to send a formal email or a text, but the time it takes likely deters many from spreading the word.

Snapchat’s design is optimal for sharing, as the app is quick to load and opens directly to the camera screen. Doodles and text can also be included for additional context. Product images can be sent to a decision maker, the user herself, or even be saved and accessed for later viewing.

Snapchat DKNY

Even though Snapchat can be as intimate as a text, especially with Android push notifications, the app has more of a casual feel. Since images disappear after viewing, the pressure is off and users are more inclined to share moments without thinking twice.

Ecommerce businesses benefit from increased word of mouth as one customer browsing their products can easily let others know about a new item or an upcoming sale. Even if the user isn’t sure their friends care about the deal, she knows they can stop viewing the image at any time. Further more, since the emphasis is on sharing rather than conversations, users don’t feel obligated to reply to every snap unless they are interested in more information.

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The Five-Month Term

| Danielle Geva

Toronto SkylineWhile checking out some local Toronto startups, I came across one that had an interesting take on the probationary period. They stated that the ‘project’ was for a five-month term, with the option to extend it indefinitely.

Outside of the startup world, it’s common to have a three-month probationary period. However, you can usually tell long before that if an employee is the right fit, especially within a small and nimble startup. After the first week, it’s pretty clear if the new hire can actually code or close. After the second week, you can usually tell whether they’re a good cultural fit.

If the startup has been burnt before by low-performing hires, then the probationary period would be shorter. Perhaps it’s based on some legal advice, or maybe the founders are simply being honest about their current resources. Instead of using the five-month term as a cop out, this might simply be a way of letting candidates know that they might be let go if the business doesn’t become profitable.

The honesty is refreshing, but it seems that some people might be turned off. Even after they realize the five-month term doesn’t have anything to do with a lack of belief in their skills, the thought that the founders are ready to give it all up in five-months isn’t very inspiring. Even if it is realistic.

Working with startups, you’re always ready for funding to run out. But you’re also ready to make compromises and eat ramen together until the vision finally becomes a reality. If you have the determination it takes to succeed, you don’t schedule an end date.

 

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5 Ways to Leverage Your Existing Customers for Growth

| Danielle Geva

Rising Bread

No matter how small your current user base is, these five simple tactics will help you acquire new customers by leveraging existing ones.

1. Video Testimonials

Creating video testimonials is a powerful way to convey customer satisfaction and convert prospects. You may have been avoiding video due to high production costs, but unlike your intro video an engaging testimonial can be as simple as a Skype screen capture. The lighting doesn’t matter as much as the sound; however, don’t forget to have the customer clearly state their name and company (if relevant). Upload the videos both to YouTube and your site, and consider using memorable quotes for written testimonials. Instead of constantly asking loyal customers for references, you can now simply direct an endless number of prospects to the videos at any time.

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Why do you want to work for us?

| Danielle Geva

The Office

The make or break question. Interviewers often end interviews with this seemingly simple question in order to weed out those just looking for a paycheque. However, less than qualified candidates can fake interest with a shallow answer.

It seems as if some candidates prepare for interviews by only spending a couple of minutes on online research. They then mention a unique aspect of the company during the interview, which may fool some inexperienced interviewers. While information can be harder to find when applying to smaller businesses, I used to wonder why recently launched startups even asked interviewees “why do you want to work for our company?”.

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