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Jack Kaufman's Movable Type Idea Exchange Presentation
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Jack Kaufman's Movable Type Idea Exchange Presentation

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My slide deck from when I presented at The Movable Type Idea Exchange.

My slide deck from when I presented at The Movable Type Idea Exchange.

Published in: Technology, Business

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  • 1. Tips for improving your business By: Jack Kaufman
  • 2. Who am I and why am I speaking today? ● I created a book called The Found a Business Book, which has 33 interviews with successful entrepreneurs who founded or co-founded companies like: ● I want to share some valuable advice from my book and my experiences making the book that I believe will help your business!
  • 3. Important advice entrepreneurs shared in my book ● Charge more for your products or services ● To effectively validate an idea for a product you should use pre-orders ● Most companies don’t need VC and shouldn’ t raise VC ● That being said, if you do want to raise VC, it is important that your product has traction before you go pitch investors ● Customer service is extremely important ● The hardest part about business is starting
  • 4. Charge more for your products or services ● Most companies (especially software companies) undercharge ● You should price your products or services based on the value you provide ● Try doubling the prices of your products and services Rob Walling, Founder of Drip and Owner of HitTail Jason Cohen, Founder of WP Engine and Smart Bear Software
  • 5. Use pre-orders to effectively validate your product ideas ● If you have an idea for a product, the most effective way to validate it is to ask people to pre-order ● For example, Nathan Barry:
  • 6. Most companies don’t need VC and shouldn’t raise VC ● Most software companies don’t need VC and shouldn’t raise it ● Goals for software companies should instead be profitability, sustainability, and happiness for founding team
  • 7. If you do want to raise VC, focus on getting traction for your product ● Snapchat has raised $73 million dollars so far and is an extremely fast-growing consumer company ● You’ll have a much easier time raising venture capital if your product has traction and is growing quickly (users, revenue, customers) Evan Spiegel, Co- founder and CEO of Snapchat
  • 8. Customer service is extremely important ● Customer service is all about treating other people as you would want to be treated, being compassionate, and being empathetic ● A lot of companies do not do well when it comes to customer service, which is actually a good thing (it means that there’s a big opportunity to do customer service really well and be known for it) Amit Gupta, Founder of Photojojo
  • 9. The hardest part about business is starting ● Both Jack Dorsey and Tom Preston-Werner said the hardest thing about business is starting your project and being serious about it
  • 10. What I Personally Learned from Making My Book ● Always be networking ● Products don’t sell themselves (you have to actively market and sell them!) ● The best way to market and sell any product or business is to have an audience
  • 11. Always be networking ● No matter how wealthy or famous you are, you should still always network! ● Networking leads to finding mentors, friends, customers, and introductions that all could help your business
  • 12. Products don’t sell themselves ● Even if you have a valuable and outstanding product, people won’t find it unless you talk about it, promote it, and help people find it! ● You should put a similar amount of time and effort into marketing your product as you put into making your product
  • 13. The Best Way to Market is to Have an Audience ● Content marketing and building an audience are extremely valuable ● Paid advertising = renting an audience (it’s expensive and doesn’t last) ● Best way to build an audience is to write and share valuable content for free, and then encourage people to subscribe via email
  • 14. The Best Way to Market is to Have an Audience (continued) ● Focus less on getting people to like and follow you on social media (Twitter followers, Facebook fans) ● Focus more on getting people to subscribe for email updates (the most valuable people in an audience are your email subscribers)
  • 15. Data about email ● Ryan Delk (@delk) works on business development and growth at Gumroad ● Gumroad makes it extremely easy for creators to sell products to their audiences ● In a presentation he gave at a conference called Bacon Biz Conf in June, Ryan had some extremely interesting data about conversion rates across different marketing platforms Ryan Delk, Works on Growth and Business Development at Gumroad
  • 16. Data about email (continued) The data that Ryan and the team at Gumroad has from thousands of sellers: ● Traffic from Youtube converts at 2.2% ● Traffic from Twitter converts at 5.4% ● Traffic from Facebook converts at 6.3% ● Traffic from email converts at 9.4% Conclusion: When it comes to building your audience, focus more of your resources on building an email list.
  • 17. Examples of people who have had success building audiences ● Ramit Sethi – I Will Teach You to Be Rich ● Lindsay Nixon – Happy Herbivore
  • 18. More examples of people who have had success building audiences ● Brennan Dunn – Founder of Planscope and owner/creator of many successful products ● Pat Flynn – Owner of The Smart Passive Income Blog
  • 19. Some final thoughts ● Starting and growing a business is challenging and takes a lot of work, but it is also worth it ● Don’t be discouraged if things don’t go exactly as planned – e.g. Before working on The Found a Business Book (my first modest success), I failed four times working on different business projects
  • 20. About me Twitter: @kaufman_jack Website for The Found a Business Book: foundabusiness.com Slides for this presentation available at: http://is.gd/jackkaufmandeck