Archive for Mashable
Before you start your business, know what your business model is
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Now here is a crazy thought! How about knowing how your going to make money before starting a business? Crazy right? I mean what does making money have to do with business?
And that is why the majority of start-ups become finish-downs.
I know, I know. Just build it for the sake of building it and see what happens. That’s great if you don’t need the money and have a lot of time on your hands, but if you are going to start a business you best know how you are going to make money.
Now before we go into some of the different ways to make money I think it is first important to see that you have multiple ways of making money. If you are going to be putting blood, sweat & tears into something make sure you have many avenues of success while still maintaining focus on your core business. Note: When you launch your company you don’t need to launch every revenue stream, just make sure you have a few as you grow.
The easiest example of this is a Restaurant. A retaurant can have the following revenue streams:
- The basic: People coming in and eating in
- Take Out
- In house catering/parties
- Catering in other locations
- Selling Packaged food through other locations
- Selling a specific product commercially (ie: Our Special Bar-B-Q Sauce)
- Party Planning Service
- Gift Baskets
- Frozen Pizzas
See what I mean? Now mostly I would like to focus on internet businesses since I think it is pretty obvious what your business model is when you are running a retail outlet of any kind, but online we have been brought up with the idea that it is a numbers game and as long as you have a lot of “eye balls” you can figure out the rest later. Now that is a great thought and if you became an internet sensation like Twitter, then that’s great, but for the 99.9999% of the rest of internet start-ups you really need to have a clear business model in order to raise funds and of course to succeed.
Now the problem I have with the “eye balls” theory is that the main business model that people are shooting for is an advertising model and that is a very dangerous place to be for many reasons; the fist being that if advertising revenue dollars were to suddenly drop, so will your revenue. I know of many companies that have gone under in the current recession specifically because the ad revenue dropped by more than 50%. If your going to build a business, build it on a need, something that people want and not something that you are going to annoy them with. That’s just my opinion.
A recent article on Mashable titled “5 Business Models for Social Media Startups” points out some of the main ways to earn money online and can even be used for non social media startups. Let me know what you think!
http://mashable.com/2009/07/14/social-media-business-models/
What is the statute of limitations on calling a product “New”?
Posted by: | CommentsWhat is the statute of limitations on calling a product “new” in Israel? In our last post on this subject about 5 months ago we talked about a package of tissues. This time we are talking about a “bowl of soup” which has become a staple of start-up offices everywhere. Problem is, as you can see in the pic below, they are still marketing this product as Chadash when it has been around in the very same packaging for the last 2-3 years! Come on guys! Change the marketing message. Do you think anyone buys this product because it says it’s new? The only thing that it makes us think is that it must be old!
Another great list by Mashable. This one is a great source of links for freelancers and web programmers and designers can use to find new business. And yes this is perfect for Israelis looking for a new or additional source of income.
Now not only does this list include places to find freelance jobs, but also many different tools that can help you organize and manage your outsource products as well.
This list includes time management tools so you can time exactly how long a project takes you as well as resources that will allow you to send professional looking invoices so that you can get paid once your work is complete.
If you ever thought about getting into freelancing from Israel, I strongly suggest you use this list as your first resource.
CLICK ON THIS LINK TO SEE THE FULL LIST FROM MASHABLE
A must read post for any graphic or web designer in Israel looking for work
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Web & Graphic designers have a lot of options when it comes to outsourcing their skills. They can virtually work anywhere in the world with a laptop and an internet connection. Web and Graphic designers in Israel are no different and building their online portfolio and reputation is a no brainer for getting more work.
Also, there are a ton of sites that allow designers to sell their skills. Mashable once again comes to the rescue with this list of 40 places on the net you can sell your designs. If their are any graphic designers in Israel that have had success in any of these sites please share and let us know!
You can find the full listing of the 40 sites here
Mashable presents Seth Godin Video on 7 tips for start-ups in a down market
Posted by: | CommentsAs readers of this blog know I am both a big fan of Seth Godin and of Mashable. Today Mashable posted a video asking Seth for tips for start-ups in todays down market. You can watch the video below. These tips are great advice for Israel entrepreneurs as well.
A lot of times finding a job is about who you know, especially in Israel! That being said it would seem that the more people you know (or the more people who know you), the easier it will be to find a job. So go ahead, make yourself known! Start a blog, get involved in social networking, attend networking events! Do whatever it takes to get yourself known. Even better, become an expert in the field you represent! Write an ebook about the topic you love most in your industry, write articles to magazines, websites, and newspapers. Keep writing and keep posting until you are known as an expert in your field. Look out for events and offer to speak at them.
Yeah I know, public speaking is one of mans greatest fears:
The
fear of public speaking is always listed as one of the top three
American phobias (way above the fear of death, which is usually rated
as the seventh most common phobia). The comedian Jerry Seinfeld
observed, “Most of us would rather be in the casket than giving the
eulogy.”
That being said there are many ways to get yourself out there. In this Mashable post called "How to build the Ultimate Social Media Resume", Mashable looks at 6 different ways to build a social media resume and get yourself out there.
So don't just sit back and wait for it to happen, you need to be proactive and go out and make it happen! I believe I have mentioned before, but it is worth mentioning again. Be different! Don't send out the same boring CV that everyone else is snding in. Make it different! Use video! Send it in a Gold Plated envelope with a signature required. Even if they ask you to send in your CV dont! Give them what they really want, but don't know how to ask for! Give them a winning person, someone who shows creativity, someone that will make their company proud! Don't be like everyone else since 99.9% of everyone else also won't be getting the job!
