51) How a lot do board members get?
Nothing. They need to all be buyers. In the event that they aren’t an investor, then one-half of 1 %.
52) What if one consumer is sort of all of my revenues?
Deal with them very properly. Don’t overlook the Christmas present basket.
53) What’s the easiest way to promote something?
Present arbitrage: In the event that they pay X, now they’re shopping for one thing value X * Y. That’s the ONLY approach to promote.
54) What’s the easiest way to promote something?
Half II: worry and agitation.
Get them afraid: The world is falling aside!
Then get them agitated: That is the one approach to cease it.
55) What’s the easiest way to speak about my competitors in a gathering?
Use “alternative ambiguity” (Google it). Say, “All of my competitors is nice. I wouldn’t even understand how to decide on amongst them.”
56) What’s the easiest way to worth an organization?
Ask your self (no BS): How a lot wouldn’t it value to recreate the expertise, providers, model, and prospects you’ve already constructed. Then quadruple it and see what individuals would pay.
57) How do I cost extra for my providers?
Itemize as finely as potential and cost for every merchandise.
58) Do I cost per hour, per undertaking, or monthly?
First per undertaking, then per-month upkeep.
59) How do I put together for a gathering?
Know every part in regards to the purchasers. Their competitors, staff, trade. Over-read every part.
60) What’s the solely efficient e-mail advertising?
Extremely focused e-mail advertising written by skilled copywriters, and an e-mail listing made up of people that have purchased related providers prior to now six months.
60a) Corollary: You probably have zero abilities as a copywriter, then every part you write shall be boring.
61) Ought to I give stuff away free of charge?
Possibly. However don’t count on free prospects to show into paying prospects. Your free prospects really hate you and need every part from you for nothing, so that you higher have a special enterprise mannequin.
62) Ought to I’ve schwag?
No.
63) Ought to I’m going to SXSW?
No.
64) Ought to I’m going to trade events and meetups?
No.
65) Ought to I rent individuals as a result of I can journey on a seven-hour aircraft journey with them?
Don’t be an fool. If something, rent individuals the other of you. Or else, who will you delegate to?
66) When ought to I say “no” to a consumer?
After they method you.
67) When ought to I say “sure” to a consumer?
Each different dialog you ever have with them after that preliminary “no.”
68) Ought to I’ve intercourse with an worker?
Cease asking that.
69) Ought to I negotiate one of the best phrases with a VC?
No. Decide the VC you want. Occasions are going to get powerful sooner or later, and also you want to have the ability to have a heart-to-heart with them.
70) Ought to I even begin a enterprise?
No. Make cash. Construct shit. Then begin a enterprise.
71) Ought to I give staff bonuses for a job properly achieved?
No. Give them presents however not bonuses.
72) What ought to I do at Christmas?
Ship everybody you realize a present basket.
73) If my buyer simply received divorced, what ought to I say to him?
“I can introduce you to plenty of ladies/males.”
74) Why didn’t the VC or buyer name again after we met yesterday and it was nice?
They hate you.
75) Why didn’t the above name again after we met yesterday and it was nice?
“Yesterday” was like a cut up second in the past for them and a lifetime for you. There’s the legislation of entrepreneurial relativity. Determine what meaning and dwell by it.
76) Ought to I rent an expert CEO?
No. By no means.
77) Ought to I rent a head of gross sales?
No. The founder is the pinnacle of gross sales till no less than 10 million in gross sales.
78) My consumer referred to as at 3 a.m. Ought to I inform him to respect boundaries?
No. You not have any boundaries.
79) My buyers need me to focus.
Must you take heed to them? No. Diversify in each manner you possibly can.
80) I personally want cash. Ought to I borrow from the enterprise?
Provided that the enterprise can survive for an additional six months it doesn’t matter what.
81) I simply purchased two firms. Ought to I put them beneath the identical roof and begin consolidating?
No. Not for no less than two years.
82) What do I do when I’ve doubts?
Ask your prospects in case your doubts are reliable.
83) I’ve an excessive amount of competitors. What ought to I do?
Competitors is sweet. It reveals you’ve a good enterprise mannequin. Now merely outperform them.
84) My spouse/husband thinks I spend an excessive amount of time on my startup.
Divorce them or shut your corporation.
85) I’m beginning my enterprise, however I’ve relationship issues. What ought to I do?
Do away with your relationship.
86) Ought to I broaden geographically as rapidly as potential?
No. Get all of the enterprise you possibly can in your native space. Journey is simply too costly time-wise.
87) How do I preserve purchasers from yelling at me?
Doc each assembly line-by-line, and ship your doc to the consumer proper after the assembly.
88) I’ve an thought for an app however don’t know execute. What ought to I do?
Draw each display and performance. Then outsource somebody to make the drawings appear to be they arrive from an actual app. Then outsource the event of the app.
Get a particular schedule. Micromanage the schedule.
89) I wish to purchase a franchise in X. Is that a good suggestion?
Solely purchase a franchise if it’s underperforming and you’ll see enhance it. Don’t purchase on future hopes; solely purchase on previous errors.
90) I wish to purchase a franchise in X. Is that a good suggestion?
Depend on the three Ds: dying, debt, divorce.
When somebody dies, the heirs will promote a enterprise low cost.
When somebody is in debt, they are going to promote a enterprise low cost.
When somebody divorces, the couple often has to promote a enterprise low cost.
IMPORTANT: Even when the traits within the trade are in your favor, you CANNOT predict the long run. However you should use the previous that can assist you get a deal. At all times get a deal.
91) I’ve no site visitors. How do I get site visitors?
Shut down your corporation.
92) Ought to I rent a PR agency?
No. Do guerilla advertising. Learn “Newsjacking” and “Belief Me, I’m Mendacity.”
PR corporations screw up from starting to finish. The primary time I employed a PR agency, as a substitute of sending me my contract, they unintentionally despatched me their contract for “Terry Bradshaw.” He was paying $12,000 a month. Was it value it for him?
93) My competitors is doing higher than me throughout each metric. What ought to I do?
Don’t be afraid to immediately shut down your corporation and begin over if you happen to can’t promote it. Time is a horrible factor to waste.
94) Is it unethical to run my enterprise from the facet whereas nonetheless at my job?
I don’t know. Did God let you know that in a dream?
95) My buyer referred to as me at 5 p.m. on a Friday and stated, “Now we have to speak.” And now I can’t discuss to him till Monday. What does it imply?
It means you’re fired.
96) XYZ simply bought for $100 million. Ought to I be valued at that? I’m higher!
No, you need to shut up.
97) Traders wish to meet me and prospects wish to meet me. Who do I meet if I want cash?
You need to know the reply to that by now.
98) If an acquirer asks me why I wish to promote, what ought to I say?
That you just really feel it might be simpler so that you can develop within the context of a much bigger firm that has skilled the rising pains you’re simply beginning to undergo. That 1 + 1 = 45.
99) I simply began my enterprise. What ought to I do?
Promote it as quick as potential (applies in 99 % of conditions). Promote for money.
100) I can change the world with my expertise.
No you possibly can’t.
100a) Corollary: Don’t smoke crack.
101) In case you’re so good, why aren’t you a billionaire?
As a result of I bought my companies early, misplaced every part, began new companies, bought them, and received fortunate now and again.
101a) Corollary: These guidelines don’t at all times apply. However like Kurt Vonnegut stated, “If you wish to break the foundations of grammar, first be taught the foundations of grammar.”
RULE #infinity: You create your luck by being wholesome and never regretting the previous or being anxious in regards to the future.
