Have you always wanted to start a software business… but a lack of tech skills stopped you?
Or maybe you’re already running a software business now, but you’re frustrated because you’re at the mercy of tech freelancers or employees?
If you answered ‘yes’ to any of the questions, you’ve come to the right place.
The solution is to bring on a tech partner to your business. Before you start thinking: “Doesn’t that mean I have to sacrifice some equity?”…
Let me tell you (based on real experience) that it’s totally worth it, as I’ll explain in this post.
We’ll go over why you need a tech partner, what things/qualities to look for in one, and how to find a great partner.
Have you bought something only to regret or second thought your purchase later?
If you’ve never experienced this, you’re probably not human.
All kidding aside, a way to overcome this ‘regret’ is not to buy in the first place. The problem is… we can’t not buy anything, can we?
I’m sure you’ve heard the word “Bootstrapping” countless times, especially if you’re in the startup or small business world.
Basically, it’s about being as thrifty as possible when running your business. When you don’t have outside investors investing in your business, you rely on your own savings to initially fund the business and get it running.
If things go well, you get enough customers and sales to get into a position where positive cash flow from the business starts to fund the expenses.
Being a bootstrapper (is that even a word?) myself, here are some tips for those who are looking to start their new venture or grow their business on a shoestring budget.
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Email marketing is not dead.
Far from it.
Even with the rising popularity of other communication channels like social media and instant messaging, email is still king.
According to McKinsey:
“E-mail remains a significantly more effective way to acquire customers than social media—nearly 40 times that of Facebook and Twitter combined.”
Here’s another study from The Radicati Group. The key points are:
Based on this infographic by Wolfgang Jaegel, for every $1 spent on email marketing, you get back $44.25. That’s a whopping 4425% ROI!
For every $1 you spend in email marketing, you get $44.25 back. Here's how you do it Click To Tweet
PLUS you get to get the pdf version of this blog post as well so that you can refer to it anytime you like, even when you’re offline.
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This post is about how to create a digital product. Follow the guidelines below and you’ll be on your way to creating a digital product that people actually want to pay money for.
The advantages of selling digital or information products (ebooks, reports, audios, videos, software, apps) are:
All of these mean there is a very high profit margin.
And creating a digital product doesn’t have to be hard, but it’s not easy either. It’s a simple system to follow, but it’s not easy.
Anybody can just come in and create a digital product.
But not everyone can create the RIGHT product that people actually want to pay money for.
I mentioned leveraging time in the beginning of this post.
What does that mean?
It means once your digital product is created, you can sell it over and over and over again. Create the product once and sell it for a long time, especially if your product is on an evergreen topic.
Time, unlike money, once spent — can’t be gotten back.
Here’s a quote I really like from best-selling pastor author Rick Warren:
Who do you think get paid more? Primary care physicians or specialist doctors?