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You’re not burst-testing marketing? Big mistake…
Whatever marketing you’re doing, there’s a common trap you risk falling into. At the start, it seems so simple. Spend a few quid, acquire a few users. One simple division sum and – Hey Presto! You have your cost-per-acquisition. But sadly, it’s really not that simple. When campaigns scale, it’s very common to see significant […]
The boring rainy Tuesday test
Many businesses rely on hype and unreliable free methods to promote and sell their products and services. Don’t get sucked in to this trap. The boring rainy Tuesday test is a critical test, which all businesses should be able to pass. It’s all about how you acquire new customers – even on a bad day. […]
‘Team’ doesn’t matter. Here’s what does.
If you speak to many investors about what’s important, a common response is ‘team’. It’s all about teams, apparently. At best, this is a half-truth – and here’s why. At early stage, most investors are shooting in a dark room. They can take a guess at what might work, but that only gets them so […]
What the Wizard of Oz taught me about the Minimum Viable Product
It’s not what you do that counts, it’s what customers think you do. If you’ve seen the Wizard of Oz, you’ll likely remember the bit where the Wizard’s curtain is pulled back to reveal the fact he’s doing everything manually. The impression created is, however, totally different. Startups can learn a lot from this approach. […]
Roadmapitis – the virulent disease that could kill your startup
Over the years, I’ve seen many startups with a case of Roadmapitis. This can be deadly, if not treated in time. Patients usually present with some of the following symptoms: A delusional belief that the tasks on their roadmap are a valid plan for the firm. Fuzzy eyesight, which stops them reading between the lines […]
Sweat equity example
Often, a growing business needs expertise much more than money. Below, Andy Harper of WhoArtNow.co.uk explains how sweat equity investment worked in his particular case. The relationship started off as consultancy, and then developed to investment. The slightly formal style is explained by the fact this reference was originally drafted for accountants, not humans. We […]
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