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How to Get Started as a Web Entrepreneur
How to Get Started as a Web Entrepreneur
How to Get Started as a Web Entrepreneur
How to Get Started as a Web Entrepreneur
How to Get Started as a Web Entrepreneur
What Idea?,[object Object],Solve problems you’ve experienced,[object Object],Observe and looking for niches/problems,[object Object],Help people make money,[object Object],Not all businesses are equal,[object Object]
A Problem I Have …,[object Object],It’s hard to sell advertising for RSS and Email,[object Object],The market leader in RSS doesn’t provide Email Digests,[object Object],There is no one-stop RSS/Email/Twitter service for publishers,[object Object]
My Idea: A Service That …,[object Object],Helps people follow blogs with RSS, RSS Digest, Email, Email Digest, Twitter, Facebook, all automated for the publisher,[object Object],Helps bloggers make money with self serve advertising on RSS, Email and Twitter,[object Object]
BlogFollower,[object Object],Disclaimer: I’m not saying this is actually a great idea, but it’s a good example idea. And executed well, probably could work.,[object Object],Lots of ideas could be good if executed well.,[object Object],It’s not very glamorous or trendy, but it does fulfill a real need for a growing target market,[object Object]
Research,[object Object],Do other people think this is a problem?,[object Object],Is the problem solved already?,[object Object],Look fordirectcompetitors,[object Object],Look for similar competitors,[object Object],Ask around,[object Object],BlogFollower Competitiors:Aweber, Feedburner, Feedblitz, TwitterFeed, HeyAmigo (Defunct),[object Object]
Identify the Audience,[object Object],Primary Audience: Bloggers,[object Object],Secondary Audiences: Readers, Advertisers,[object Object],Are these audiences growing or declining?,[object Object],How will you reach and capture these audiences? Do you know them well? Do you really know what their problems are? ,[object Object],Survey them. They may tell you some surprising things!,[object Object]
Is There Money in This?,[object Object],How will you make money?,[object Object],How are competitors making money?,[object Object],Be pessimistic. To generate $1,000 p/m:,[object Object],$10-20CPM is possible … but $.5 - $1 is more likely. At $1 CPM, you’d need 1,000,000 impressions a month,[object Object],For example < 1% conversion for subscriptions. At $10 p/m subscription, you’d need 10,000 free subscribers to convert 100,[object Object],Of course you can do better than these numbers, but you should be assuming the worst!,[object Object]
Mission and Vision,[object Object],What are you actually trying to do?,[object Object],A mission should be something that inspires you to work, and should be the reason you are tackling the business.,[object Object],I am a blogger, I like blogging, I believe in individuals working for themselves. Therefore for me the reason I’d get into this business would be:To Make Independent Publishers More Effective,[object Object]
Start Planning!,[object Object],Carry a notebook,[object Object],Get excited,[object Object],Get obsessive,[object Object],Try out competitors,[object Object],Learn more about the niche,[object Object],Start networking,[object Object]
Personal Preparation,[object Object],You need to be ready to work hard,[object Object],You need to be prepared to carry it alone even if you are planning on having cofounders,[object Object],You need to have some money to start off and/or an income to subsidize you,[object Object]
How to Get Started as a Web Entrepreneur
Cofounders,[object Object],Find people you trust,[object Object],Find people who have different strengths,[object Object],Find people who work as hard as you,[object Object],Find people who you like and get on with,[object Object],You need to either:,[object Object],lead people ,[object Object],join someone else’s team,[object Object],find cofounders who are happy to lead in different capacities (technical vsbusiness vs product),[object Object]
Who is Going to Do What,[object Object],Money? Hours? Skills?,[object Object],How will shares be split?,[object Object],It's important that you don't look back and feel hard done by and that it wasn't fair,[object Object],It's like a marriage - you have to work at it, you have to be prepared to compromise,[object Object]
My Core Team,[object Object],My Wife: Project Manager, Branding, Organized,[object Object],My Best Friend: Detail Work, Money,[object Object],My Brother: Capable, Analytical, Business Minded,[object Object],My Father: Experienced, Risk-averse, Wise,[object Object],Me: Ideas, Instinct, Execution, Confident,[object Object]
Money,[object Object],Founder investment,[object Object],Keeps you focused,[object Object],100% ownership,[object Object],Outside investment,[object Object],Time and attention consuming,[object Object],Less control,[object Object],Pressure to deliver ROI,[object Object],Debt,[object Object],Repayments and Interest,[object Object],You own it, but the bank is watching you carefully,[object Object]
Accountant and a Lawyer,[object Object],Essential in the long run and helpful with initial setup,[object Object],Get recommendations,[object Object],Meet a bunch of them,[object Object],Build a relationship,[object Object],Initially:,[object Object],Lawyer should advise on company setup and shareholder agreement,[object Object],Accountant should advise on company setup and creating your accounts,[object Object]
Business Plan,[object Object],Think through assumptions and details,[object Object],Don’t get bogged down with them, but don’t skip them either,[object Object],More necessary if you need investment or debt,[object Object]
How to Get Started as a Web Entrepreneur
What is Essential?,[object Object],Focus first on the essential, core of the product,[object Object],Nice-to-haves can be added later,[object Object],You should have a vague idea of how you think the product will grow, but don’t over-plan or over-spec,[object Object],How you can break the product into iterations?,[object Object]
Blog Follower Features,[object Object],Essentials:,[object Object],Takes an RSS Feed and pushes out RSS Digests, Emails, Email Digests, Twitter Notifications and Facebook Notifications,[object Object],Facilitate Banner Ad Sales on RSS and Email,[object Object],Nice-to-haves:,[object Object],Self Serve Ad Marketplace,[object Object],Analytics,[object Object],Advanced Theming and Styling for Emails,[object Object],Multiple Payment Methods,[object Object]
Concrete Monetization Plan,[object Object],What exactly are you selling?,[object Object],Who are the buyers? Who are the users?,[object Object],How much will it cost?,[object Object],Are there fixed costs you need to account for?,[object Object],How much would you need to be selling to break even? To reach your ideal profit?,[object Object]
BlogFollower Monetization,[object Object],Option 1: Subscriptions – charge the publishers,[object Object],Lots of small increments,[object Object],Easy to estimate and plan around, lots of conversion information out there,[object Object],Easy to develop and account for,[object Object],Option 2: Advertising cut – take a portion of ad sales,[object Object],Potentially very lucrative,[object Object],Hard to develop and account for,[object Object],Only really works if your publishers are all selling lots of ads … hard to estimate and plan,[object Object],Option 3: Charge per email sent, per RSS feed published etc,[object Object],May be necessary for emails,[object Object],Easy to develop and account for,[object Object],Could be lucrative,[object Object],Option 4: Mixture,[object Object]
Iterations,[object Object],Iteration 1:,[object Object],Publisher Account System,[object Object],RSS -> Twitter and Facebook,[object Object],RSS -> Email,[object Object],RSS -> RSS Digest,[object Object],Iteration 2:,[object Object],Digest Settings,[object Object],RSS -> Email Digest,[object Object],Email Subscriber Management,[object Object],Iteration 3:,[object Object],Fine Tune and Testing,[object Object],Publisher Subscription Billing,[object Object],Launch Iteration 1 & 2,[object Object],Iteration 4:,[object Object],Banner Ad System,[object Object],Basic publisher directory,[object Object],… and so on,[object Object]
UI & Development,[object Object],Wireframe out the application,[object Object],Assume that UI and Development will be harder and more expensive than you’d planned ,[object Object],Contractors? Founders? Staff?,[object Object]
How to Get Started as a Web Entrepreneur
DON’T underestimate marketing,[object Object],Lots of little startups build decent products,[object Object],… but go nowhere,[object Object],A mediocre product can go far with good marketing (and you can improve it as you go),[object Object],A great product may market itself … to some extent (but often is teamed with great marketers – e.g. 37Signals),[object Object]
Branding,[object Object],A brand should:,[object Object],Be memorable,[object Object],Have personality,[object Object],Is more than just a logo,[object Object],A good brand has a story,[object Object],The easiest brand path is to tie it to yourself – be the voice of your site/app/service. Be the spokesperson, the evangelist, the story…,[object Object]
BlogFollower,[object Object],Personal brand through ,[object Object],Blogging,[object Object],Personal emails to users about new features and personally responding to support requests,[object Object],Evangelizing and networking with the target audience,[object Object],Get interviewed on sites and talk about my experience with blogging to create the back-story for the brand,[object Object],Position as the anti-Feedburner (be the little guy),[object Object]
How Will You Find Users?,[object Object],Advertising (how much will you spend?),[object Object],Blogging (what will the blog be about?),[object Object],PR (what is the story?),[object Object],Networking (how will you reach out to people?),[object Object],Social Media (e.g. 0atmeal),[object Object]
BlogFollower Marketing,[object Object],Networking with bloggers, particularly bloggers whose audience is other bloggers and internet marketers,[object Object],Try to get reviewed, interviewed, run giveaways, send T-shirts, …,[object Object],Start a blog aimed at helping bloggers promote themselves,[object Object],Try some social media promotion with linkbait articles and giveaways (e.g. free icons for bloggers),[object Object]
How to Get Started as a Web Entrepreneur
There’s No Finish Line,[object Object],Launching is not the end … it’s only the beginning.Now you have to build a business!,[object Object],“If you leave and everything stops, you don’t have a business, you have a job.”,[object Object],You need to be systematic in replacing yourself while still ensuring that everything keeps moving.,[object Object]
Stay Focused,[object Object],Focus on your users,[object Object],Marketing to new users,[object Object],Improving the product for current users,[object Object],Providing great support for current users,[object Object],Focus on revenue and numbers,[object Object],Accounting should be solid, watch out for cash flow!,[object Object],Make sure you have an instinctive feel for what actions correlate with what numerical results,[object Object]
Continuously Improve,[object Object],If you stand still, your competitors will pass you by,[object Object],There is a never ending list of improvements and fixes and upgrades you can make. Be prepared for this,[object Object],Improving isn’t always ‘adding’, sometimes it’s removing stuff or streamlining,[object Object]
How to Get Started as a Web Entrepreneur

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