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Your Startup Guru

Helping you launch and grow your business

Good employment report

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Federal Reserve Chairwoman, Janet Yellen.  Source:  Getty Images

The U.S. labor market in July capped off the best two-month stretch of hiring so far this year, a sign of strength for an economy that has been showing mixed growth signals in recent months.

Nonfarm payrolls rose by a seasonally adjusted 255,000 last month, the Labor Department said Friday. Wages for private-sector workers matched their strongest annual pace of growth in seven years, more Americans entered the labor force during the month and the jobless rate held steady 4.9%.

This could mean greater spending on goods and services such as the goods and services that your business sells  =)

Ain’t too proud to beg

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This story is about Bob Hurley and the meteoric rise of one of the biggest surf brands in the world and a testament to the reality of the American dream.

These days, Hurley is known as a mega-brand, an archetype for all other hopeful companies to follow – but it wasn’t always so. Hurley was once the humble brainchild of a forward-thinking, passionate, sometimes eccentric and always intelligent man.

As an avid surfer it’s always interesting to see leisure sports brands turn into major companies.  As with most companies, financing is crucial.  For Hurley to move from startup to growth stages Bob had to find seed capital.  Even with promising companies founders have to ask around a lot to secure financing.

Bob begged.  He’s not ashamed of begging and begged a lot.  To any lender that would take a meeting.  Begging at 10:48.  Warning some nsfw language.

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Another happy client

Last year I had the pleasure of helping DIEM with their pitch deck and key personnel bios.  At the time their product was named something else.  I am happy to see how they pivoted to adjust their name and service.

DIEM is an improvement on existing health and wellness apps by giving actionable, real-time insights of your nutrition, fitness, lifestyle and community. DIEM then provides you answers, tips, motivation and affirmation all along the journey to better health & wellness.

diem zing front page

 

Invest in your future 

Step by step. Little by little. Move forward. A journey of a thousand miles begins with one step. 

Happy clients make me happy 

I don’t charge a lot for my services because I truly believe money shouldn’t be yet another hurdle for entrepreneurs.  However, I always make sure to exceed their expectations.  I helped Avalon Carver Community Center a couple months ago with their accounting and taxes.  The director had some very kind words for me.

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The Lean Startup

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Last week a client asked me about the Lean Startup.  As a small independent baker, the did not  Learn Startup methodology didn’t really meet his needs.  Actually for many small businesses, they’re already utilizing some of the Lean Startup’s principles:  split testing (e.g. which new cupcake idea is selling better), pivoting (e.g. advertise better selling new cupcake), build-measure-learn (e.g. ask customers what they like about each cupcake, why, etc. then adjust the recipe if needed).

The Learn Startup is more applicable to large/new & complex products and/or services.  When you have hundreds of ideas, tweaks, iterations, it can very easy to get caught-up in the labyrinth of product/service development.  Essentially, it comes down to starting with a minimum viable product (MVP), have users play around with it, gather data on (i.e. with actionable metrics, interviews, use studies, etc.), decide on which steps to go next.  This measured, calculated, and insightful process prevents over-developed products/services that do not necessarily have a market/meed a need.

As mentioned, the Learn Startup method might not be useful for all entrepreneurs but if you are in the processes of developing a large/complex product or even a brand new/novel product, it might be worth your time to check out this book and install some informational gathering and pivoting processes to make sure that it closely meets a market need.

don’t compare but if you do, have perspective

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Food for thought

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