10 Marketing Tips For Startups

Marketing is a full time job, and when you’ve got a newborn startup on your hands, strategic marketing is key. With the competition in the startup scene at an all time high, calculated marketing tricks can either make or break a new company. As a new startup, money for large scale marketing campaigns isn’t always in over abundance, so how does a company market big on a small budget? Believe it or not, you don’t have to break to bank to properly execute some effective marketing strategies. So for those of you in need of some creative guidance to get your marketing strategy off the ground, here are 10 marketing tips for startups.

1. Hire a Marketing Division

Before getting your marketing strategy off the ground, the first step is to build a strong and savvy team. Whether you have one dedicated employee focused solely on marketing, or a team of staff building and strategizing new marketing campaigns, having a marketing division is a must. If you ask a startup owner what his schedule is for the day, you’re most likely going to get a jam packed list of to-do’s. With so much on a startup founder’s mind, marketing is one important task that often gets overlooked. So, if you want to successfully market your startup, first be sure that you have a reliable team whose job description includes developing, and deploying daily marketing strategies.

2. Choose your Target Audience

Sometimes that great concept, or idea you have in your head just won’t fly with the masses. One of the most important steps to effective marketing, especially in the startup world, is to choose your target audience wisely. No offense, but you’re not Coca Cola. Unless you are an internationally recognized brand, a marketing strategy that attempts to appeal to the entirety of the general public is surely going to flop. 

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9 Things You Need To Know For Startup Investing

Startup investing can be rewarding both financially and personally. By investing in a startup you are contributing to job creation and capital formation. The influence of entrepreneurs has shaped the U.S. since before its founding and the contribution with such innovation its absolutely immeasurable.

Even though picking winners is not an easy game, making a home run by investing in startups means that the returns could yield between 5x to 100 times returns on the initial investment. However, it is crucial to conduct the appropriate due diligence on the business, market, competitive landscape and founding members to mitigate against risk.

At the company I co-founded for instance, RockThePost, an investment platform for startups, we help with the due diligence process by only showcasing highly vetted startups. Each entrepreneur and their high level officers have to pass through background checks in order to even be considered, in addition to pitching the business venture to our investment committee, which is comprised of four financial experts, and led by the former Chief Financial Officer of E*Trade Financial, Robert Simmons.

Below are some of the most important tips when considering making an investment in a startup company.

1) Invest in a domain you know. One of the best ways to reduce risk is to understand the market that startup operates in. This will provide you with a better sense when projecting the potential success of the venture. Make sure that the business has a scalable model so that it can grow to a level in which you will be able to get your money back as an investor.

2) Drill into the track record of the founders. The people behind the company are the most critical factor, especially for early stage companies. This is mainly due to the fact that products need to be iterated several times until they are able to find where they fit in the market. Just like Jim Collins’ book “From Good To Great”, it is all about having the right people sitting in the right seat. Eventually they will end up finding the right direction. Here you want to focus on their background story (previous companies, education, etc.) and what type of value they bring to the table.

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Startup Advice From 7 Successful Entrepreneurs

Starting a business can be exhausting, exciting and exhilarating--all at the same time. This is precisely why it's refreshing to hear words of encouragement from those who have done it before--and succeeded. We spoke with entrepreneurs we admire to cull the single best bit of startup advice they could muster--and the experiences that led to it. They're simple mottoes, to be sure, but their impact can be tremendous.

"Don't think, do."

So said a stranger to Jeff Curran, founder and CEO of Curran Catalog, a high-end home furnishings company in Seattle, more than 20 years ago.

The two men were sitting next to each other on a cross-country flight, and Curran, then 25, had just broken into the catalog business. They got to talking, and Curran spilled his idea for a startup while his neighbor interjected with devil's-advocate questions. When the plane landed and the two rose to claim their bags from the overhead bins, the stranger finally opened up his can of insight. Those three words inspired Curran to pour $15,000 of his own cash into launching his company, which has grown into a profitable B2B and B2C brand.

"After that plane flight, I'm sitting in the bathroom at my parents' house and I pick up [a financial] magazine, and this guy was on the cover," remembers Curran, now 47. Turns out the man was mutual-fund maven Mario Gabelli.

Curran still lives by Gabelli's advice. Earlier this year, after learning about profit margins in the high-end car-accessories business, Curran Catalog launched a new product line: designer flooring for collector and European automobiles. "There is such a thing as overthinking a big decision," Curran says. "Sometimes you just have to get it done."

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Buying a Business: Important Issues to Consider

Buying a business can be a very good opportunity to get into an industry without going through the startup process, which can be time consuming, costly,  and  comes with no guarantees.

That being said, a business that is for sale is like a used car. There are lots of companies out there but only a select few are worth purchasing. Due to this, it is very important for people to do their due diligence and investigate whether or not the business they are interested in has potential.

Evaluate Yourself

Owning a company is certainly not for everyone. It is up to individuals to make sure that they have considered all available options before making the ultimate decision to be their own boss. Therefore, it is important for a person to identify their weaknesses and strengths. It is always a great idea to jot these down on paper.

Aside from listing your professional achievements, strengths and skills, you should also note your personal characteristics. These play an important role in achieving success in the business world. This also allows you to compare your traits with the attitudes that make a good business owner. Some of these attitudes include the following:

•     Dedication

•     Perseverance

•     Leadership

•     Entrepreneurship

•     Confidence

•     Self-belief

A person who does not have these attitudes should try their best to develop them. If not, you may need to reconsider owning your own business.

Business Structure

As a potential buyer, you should consider the business structure prior to purchasing a company. This is because there are taxation considerations and protection issues that need to be shored up. Some of the possible business structures that can be adopted include the following:

•     Company

•     Trust

•     Partnership

•     Sole Trader

•     A combination of a trust and company structure

A potential buyer should always remember that each kind of structure described attracts ongoing compliance costs, setup costs, personal risk and tax rates. 

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A Financial Advisor Explains How To Increase Your Credit Rating

If you're considering buying a house or taking out a loan next year, you'll want to get your credit rating in the best possible shape. But what's the best way to approach it?

In a Reddit "Ask Me Anything" thread posted earlier this year, an advisor from a major credit card company took dozens of burning personal finance questions from the public, and quite a few concerned how to improve your credit.

The advisor asked to remain anonymous, but Reddit vets all experts before they host an AMA thread. We've also reviewed the responses and found them to be accurate. Here's how the advisor suggests you tackle your credit rating:

Q: What's the best way to increase my credit rating so banks are knocking at my door with awesome offers?

A: Unfortunately, the best answer for this one is always going to be TIME. But there are a lot of factors that you can do that will speed up some of the process. Do not do any balance transfers between your credit cards and stay away from cash advances. Mortgages will always make sure your "debt-to-income" ratio is low. This means that if the amount of debt you have is close to what your annual income is, they will likely reject you.

Q: Does how much credit you have matter as much to potential credit lenders as how well you make payments?

A: Having a card or two with a higher limit is good. But you don't want too much unused credit either. The biggest thing you'll find with loans is that they are looking for HOW MUCH history you have with your current creditors. The longer the better.

Q: Is it better to pay off your entire monthly balance, justthe minimum, or somewhere in between?