how to launch your startup
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https://www.33voices.com/ | Successful founders answers questions on early exposure, press, raising capital, financing, and culture in 33voices How to Launch Your Startup series. Featuring insights from the founders of ZinePak, Loverly, Fueled, AWAKE Chocolate, Sailthru and GiveForward. What’s your best advice to launch a startup? Tweet us @33voices for a chance to be featured on our newsletter and website.TRANSCRIPT
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HOW TO LAUNCH YOUR STARTUP
CHAPTER 1: EARLY EXPOSURE
How did you get early exposure for
your startup? READ BLOG
Brittany Hodak
“The best thing I’ve ever done for press was join YEC, the Young Entrepreneur Council,
which allows me (and hundreds of other top entrepreneurs across the country) to contribute
articles to the world’s most reputable business publications.”
Matt Schnarr
“What we did was determine who our core consumer was and how they shopped our category. With these insights in mind, we
focused on a few pillars: In store placement and impactful pos, sampling, website and
social media, and public relations.”
Kellee Khalil
“Our early networking strategy was getting in front of key technology entrepreneurs who’ve started similar companies before, allowing them to share their feedback and advice. Those mentors turned into my
investors and because I had them on my side, Loverly attracted the tech press.”
Gene Gurkoff
“When I made Charity Miles, I didn’t try to get any PR, but instead focused entirely (and I mean
entirely) on making an app that people would use and tell their friends about. That is the best strategy. Our
members love the app, spread the word for us and get us all kinds of press.”
Rameet Chawla
“I hustled. I went went to Meetups, conferences, launches, and parties showing
everyone the first app I built. I did everything I could to associate myself to mobile.”
Neil Capel
“Be patient, but be relentless – a startup only fails if you walk away from it.”
CHAPTER 2: Funding
What’s your best advice for founders to raise their
first round of capital?
READ BLOG
Matt Schnarr
“Investment by founders first. You need to show skin in the game to make others believe.”
Ethan Austin
“The number one thing that helped us raise our first round was finding someone who believed in us to invest and then pitch us to others. When you are raising your first round you are an unknown entity
and since no one is going to return your cold emails, you need someone to make introductions for you
and do a lot of the pre-pitching.”
Kelle Khalil
“You’ll need to sell the dream, so come prepared to answer the question “Where can this company go?’”
Rameet Chawla
“Be able to answer, “Why now?” and then be able to explain, “This isn't crazy because..."
Gene Gurkoff
“The best strategy is to just focus all of your resources on making a product that people love and somehow generates revenue. That won’t necessarily make the investors knock on your door. But, at least
when you get the meeting, you can provide them with a real opportunity.”
Brittany Hodak
“Before giving up equity, look for alternative ways to finance your growth, using tools like
charge cards or lines of credit.”
CHAPTER 3: Finances
How did you manage money during your first
year operating?
READ BLOG
Brittany Hodak
“Once we got our first charge card, an American Express Business Gold Rewards card, it literally
transformed our company. We went from only being able to finance one or two projects simultaneously to
being able to finance four or five, and that led us to 350% revenue growth between our first and second years.”
Rameet Chawla
“Since payroll is often the largest expense, put all of your effort into minimizing it. Then, you’ll have the ability to be generous in other areas of the business,
and still come out ahead.”
Matt Schnarr
“Set out a budget and only spend on those things that are crucially important.”
Kellee Khalil
“Every CEO is frugal, but I definitely paid close attention to every dollar going
in and out of the company.”
CHAPTER 4: MARKETING
Which marketing strategy has generated the greatest ROI?
READ BLOG
BRITTANY HODAK
“We probably got 30 “nos” for every “yes” in the first year. But, we ended every “no” conversation by politely asking people to refer us to anyone
that might be a better fit...Don’t be afraid to say to someone, “Please keep my business top of mind in
case any of your colleagues or friends might find us useful in the future.”
Matt Schnarr
“The most important strategy that we employed was differentiated packaging. It is the foundation that the brand is built on and it needs to work for us even
when other marketing strategies (i.e. advertising and promotion) are not present.”
Kellee Khalil
“We’ve seen huge growth in traffic and on-site engagement due to our aggressive content creation strategy. Putting a voice to our brand has been monumental in getting our name out there.”
Rameet Chawla
“Personal branding...I have worked to become a thought leader in the mobile space by publishing
articles and speaking at conferences.”
CHAPTER 5: CULTURE
How do you implement an ownership mentality
for your team?
READ BLOG
Kellee Khalil
“Given that Loverly is a lean startup, we demand employees take ownership of their domain and I encourage people to feel empowered by helping them visualize their goals and creating short term
wins that contribute to moral.”
Rameet Chawla
“When people have the power to make their own decisions, any consequences are also a
direct result of their personal actions. As a result, they feel a significant sense of
ownership over their projects.”
Matt Schnarr
“Understand what motivates your employees. If you can’t pay a lot, ensure that your people are getting something that they
can’t get somewhere else (ie experience, fun, flexibility, empowerment, appreciation).”
Brittany Hodak
“One of the best things we’ve implemented to help with employee morale and team camaraderie is a rotating program called “Culture Captain.” Every month, a different member of our team takes a turn being in charge of fun activities for the team, both
inside and outside of work.”
CHAPTER 6: personal growthWhat’s the most important lesson you
learned your first year that informs every business decision you make today?
READ BLOG
Matt Schnarr
“When you start a business, you learn very quickly that it isn’t what you can do, it is what you can afford to do and/or when you can afford to do it. Cash flow is the
holy grail of small companies and cannot be taken for granted under any circumstances.”
Rameet Chawla
“Sales will fix all problems. No matter what problem you have, sales can get you out of that hole.”
Brittany Hodak
“It’s easier to get forgiveness than permission.” ...If you aren’t getting your hand slapped every now and
then, it means you aren’t pushing hard enough.”
Kellee Khalil
“Knowing change is a good thing and it’s inevitable.”
What’s your best advice to launch a startup?
tweet us!
Tweet us @33voices for a chance to be featuring on our newsletter and website.
A HUGE THANK YOU TO THE FOUNDERS WHO CONTRIBUTED:
KELLEE KHALILBRITTANY HODAK RAMEET CHAWLA MATT SCHNARR
TUNE IN
Zinepak.com
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lover.ly
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Fueled.com
TUNE IN
awakechocolate.com
A HUGE THANK YOU TO THE FOUNDERS WHO CONTRIBUTED:
NEIL CAPELGENE GURKOFF ETHAN AUSTIN
TUNE IN
charitymiles.org
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sailthru.com
TUNE IN
giveforward.com
CONNECT WITH US!
Tell us what you [email protected]
Presentation created by Chase Jennings
Insights by Jenna Abdou
