I’m sure covid isn’t helping, but I fail to see how a Facebook events clone was going to make money.
Why not just pivot to digital events?
Before this year began, I was working a startup for college/university students. The idea was to allow students to be more social on campus by creating activities with other students and attend campus events. I was working on some features while keeping the blog up to establish some presence. Fast forward to now and it all seems like a waste of effort. There is no end in sight for this lockdown, some predictions are far late in the year and I am sure even after the lockdown ends, social distancing will be required. With COVID-19, I can't see my startup being anywhere successful. I am not sure what to do with it. Should I completely abandon it, keep working on it, or take into a new direction? I have invested a lot of time, money, and effort into it and the human part refuses to quit in fear of being a failure. If any of you have your startup killed by the pandemic, I would love to hear how you are coping with it. This year has been very tough and I really hope to see things turn around soon.
Best Answer
I was working on a niche social app with a a few thousand users and only about 10% were active. The app was entirely focused on in person activities.
Took a year of several people working around the clock to grow it that much.
2 months in to COVID, we’ve doubled our user base and we’re seeing around 60% of our user base use the app weekly.
COVID didn’t kill your startup, inability to adapt killed your startup.
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Bold is do the right thing that no one agrees and hard. Stupid is to do the wrong things that a few agrees and impossible.
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business plan and exit
The plan to reach the exit, including unknown uncertainties that will surely happen.
business model
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How much do I have to give my audience so they can pay me something in return? What do they value? what problem do they search for answers on your own? I want to solve that problem.
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passion
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When you finally connect what you love to do to what a lot of people love to buy. When you can focus all you want and still have unlimited work and fun.
founder and CEO
A founder is not a CEO, until the company is making money and profit enough to stay alive on its own.
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Marketing vs. sales
Marketing makes the first sale happen. The sales department work on the rest.
Largesse
A general or CEO or founder who is tolerant and generous. Someone who recognizes own mistakes. Someone with big heart for hiring people better than him.
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Brand means name recognition. A lot of people knows what your company does and what you stand for. Brand is result of long campaign of consistent value provision and media cultivation. Brand helps a company reduce marketing cost.
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Value
Value is what you give customers beyond the price you charge. Value is effective solution to a problem. The price your customer pays reflects whether the problem is big for them and whether your solution is uniquely effective. Value stems from quality and detailed work.
Marketing
Marketing means bring your product to the market and bring your message to your customer. Marketing is not salesmanship. Marketing is to penetrate the world of commerce through many barriers and existing networks.
Widgety MVP
A "MVP" wanna-be that is still at the widget stage. Lacking ability to demonstrate effects, only projected effects.
MVB
Minimally viable business, or MVC, minimally viable company. A company that scrapes by, full of guess and hope and no traction and sales. When you give your customers things for free they all take it. But they never pay and you can never rent a table at the market.
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Company culture
Company culture is based on a company making money. Once your workers are paid, they need to have a mission and aspiration so they are not bored everyday and make trouble in the work place.
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Tell people what you stand for, clearly and loudly, and those who like you will come to your stand. Others will walk by and shake their heads.
Bold
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A thorough validation of everything you said.
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