startuptips

Do Networking Events Contribute to Your Business Goals?

Do Networking Events Contribute to Your Business Goals?

Networking

Networking

People always say that a plan without a goal is just a dream. Networking events should be part of your overall plan to ensure you get the most out of your valuable time. If there is no connection between your strategy and your actions, there is a problem.

During my first year of business, I personally wasted a lot of time going to startup networking events because I thought I had to. It could easily become a norm or hype to go without reflecting on how it was affecting your overall business strategy. Some people go just to be seen; some stay for 20 mins to take a picture for social media. That could be their overall goal but at least it means they are aware of their goals and understand how networking events fit into those.

Success

Success

Why are goals important?

Goals should be tied to the different tactics of your business. Each thing that requires any piece of your precious 24 hours in a given day should have a goal. Without goals, we have no purpose and no way of measuring the success of our actions.

Networking Event

Networking Event

There are different types of networking event goals:

1. Meeting prospective clients (to generate new leads)

2. Giving a presentation at that event (as a guest speaker or panelist) to boost brand awareness

3. Blowing off steam (that is personal goal but it may have no affect on your business)

4. Boost LinkedIn numbers

5. Find UX testers

6. Meet investors

7. Nurture relationship with particular person you know is attending that event (as part of lead nurturing tactic)

8. Find startups who need help with getting funding of $25,000-$1,000,000+ (which is our goal)

For each networking event, have a goal. As long as we know why we are going and what we are hoping to expect from the opportunity, our business strategy will look more and more clear every day.

Stayed tuned for our upcoming startup event on February 15th at 6PM EST by checking out our Twitter, Facebook, and Instagram LIVE!

Share this:
Posted by VenturX in Blog, 0 comments

BIG Mistakes business owners make when hiring ’TOP’ Employee’s

Guest Post by: Jeff Consul, Institute Of Innovation

1.) Skills can be Taught — VALUES CANNOT. Always first confirm that you would trust them to work on your grandmothers house, or babysit your kids — before you start to see how they handle the tools. People with crappy attitudes and bad values are NEVER worth the effort. Inevitably they find something to externalize about; you’re not paying them enough, they don’t get enough time off, the gravity is too heavy…

2.) Confirming GRINDABILTY — But don’t ask how hard there last job was. Ask How LONG this hard job lasted, ask why they DIDN’T quit, ask what they LEARNED from this hard job, and how it changed them as a person.

3.) Call References — BUT — ask questions that allow you to see if you were right about their character. Remember that’s what you’re ultimately judging. 70% of the stuff on any resume is going to be questionable/exaggerated. When they worked for you; What were they the most proud of? When were they the happiest? What’s something most people wouldn’t know about them?

Call References

4.) Always remember that doing one or two more interviews is always MUCH less time than retraining anyone. Wait for the right person, even if their particular skill is lower — someone who lines up with your values can be leveraged over the long run, someone who quits in the middle of a job because the gravity is a little too heavy that day… is always going to be a let down

Share this:
Posted by VenturX in Blog, 0 comments
5 best free apps for startups for 2018

5 best free apps for startups for 2018

5 best free apps for startups for 2018

Here is a countdown of the top must-have apps that startups should have on their phones or computers to start 2018 on the right foot. As a startup in this digital age, you can bet that there are very creative solutions out there to help savvy entrepreneurs save time, money, or headache. Here are our top picks.

5. Vidyard

Vidyard is a Google Chrome extension that captures videos and uploads it for you. From there, you can share the link to the video or upload it directly into gmail email or your Youtube channel. With just one click, you can capture video and audio on what is happening on your screen. You do need strong internet to in order for this to work. As a technology software startup, we mainly use this for demonstrations to clients to showing bugs to the development team.

A video tells a better story about what the user is seeing or should be seeing than screenshots with text. To see an example of how it works, here is an example of a video we made recently for a prospective startup customer: https://share.vidyard.com/watch/Qwm9VwRj5udCNZ74Evwd86

4. Hellosign

HelloSign

This is a digital way to sign contracts. You can use the web version for free at www.hellosign.com. The neat thing about this fan favourite is that you can sign your own signature and email it to others to sign too within a few clicks. Not only do we not have to find an old school printer somewhere in the city…but it saves us a lot of time and money! Make sure this is marked down as one of your must have’s. Personally, I use the web version to do this.

 

 

 

 

3. Paperspan

PaperSpan

Paperspan is a very interesting app that instantly downloads webpages/articles to save offline and reads it out loud to you later. This is particularly useful when I was flying a lot this year from Montreal to Vancouver to run beta tests with incubators for our startup success tool. This came in handy because I got to read up on different Facebook campaigns, eBooks, etc..It is perfect to catch up on reading and research during transport such as in airplanes, subways, or even just walking.

Voicealoud is a similar app that reads out loud but you require internet.

These audio apps are what I used to read one of my favourite eBooks, Crush It by Gary Vaynerchuk, Entrepreneur and CEO of Vayner Media. Voice is dominating because it gives the concept of saving time. Here is a great segment on Gary Vaynerchuk’s take on voice https://www.youtube.com/watch?v=qgGllljdC-k&t=1698s

That means that these audio apps are the ultimate “time saving” apps especially for people who don’t like read. I put it on the startup list because we have to learn so much in such a short time. We put on many hats during the day. Any time we want to find research on best practices can be done here.

2. Crowdfire

Crowdfire

A lot of first time entrepreneurs know they should use social media but don’t know how. They either don’t know what content to put, when to publish or what channels would be most effective. Crowdfire has a long free trial (about 100 posts) that helps you post cross Twitter, Instagram, and Facebook. It can include other mediums as a part of the premium paid package. We used this and saw instant success that helped VenturX grow:

400–900 followers on Twitter

from 0 to 500 followers on Instagram,

boost engagement on our Facebook.

It also teaches users how to do it and what to look for. For example, the app encourages users to like similar topics, when to repost your latest Youtube video or Medium blog post, etc.. It helped us maximize exposure to our startup fans and it drove traffic to our website.

One thing that really stood out about Crowdfire was how user-friendly it was. They had a unique chatbox technology combined with their AI algorithm to maximize its effective interaction with the users. Even though VenturX used it for B2B, I expected it would be even more successful for B2C startup businesses.

1. Shapr

Shapr

Welcome to the “Tinder for LinkedIn.” You can swipe left and right on people’s profile and get matched. It is especially great for B2B businesses like VenturX because it targets keywords and job titles. For example, VenturX would interested in these job titles: “CEO, Founder, or investor” and we scroll through 20 daily picks with those related job titles as close to our geographical area as possible. Just like the hot in market dating mobile applications, you can only talk to each other when you match. Also, users can get suggestions such as “ask them for a coffee meeting” in order to encourage more offline meetings.

I loved this app so much that I tweeted a customer testimonial video to them directly.

This is how you know your work is really changing the market.

The forgotten app of 2018:

Saying goodbye to Hunter.io app.

Hunter.io

This Google Chrome extension was a stellar business development assistant that helps you search email addresses on Linkedin. They had to shut down or got acquired unfortunately. Otherwise, this would be on the list of top 5 too.

So there you have it! You are well on your way to boost your startup with a bang in 2018!

Share this:
Posted by VenturX in Blog, 0 comments
Founder Spotlight: Jennifer Chan (Preview Careers) – #1 Career Platform for Students

Founder Spotlight: Jennifer Chan (Preview Careers) – #1 Career Platform for Students

This week, I had the lucky opportunity to follow and engage with a Vancouver-based entrepreneur who is a true Lead by Example type! Jennifer Chan, Co-Founder of Preview Careers opens the door into her startup world!

Jennifer Chan, Entrepreneur, Co-Founder of Preview Careers

Jennifer Chan, Entrepreneur, Co-Founder of Preview Careers

I knew that this startup was definitely someone to watch out for when she scored over 140+ personal customer discovery interviews in a matter of DAYS with just 3 people hustling like warriors; these are results that other entrepreneurs take a year to accomplish. Preview Careers’ passion is predicated by their actions and their impact. There is no doubt Jennifer Chan was the perfect choice to highlight as someone who truly stands out! Not only did we get to see the next big thing being built, but we also got a lot of great startup tips from Jennifer Chan that you can check out: https://www.youtube.com/watch?v=vmpTxB8ZsSg&list=PLCZnT5ANSu9ZxOGg-dcyc9sqYXFWaw7eC

Preview Careers is the second product to come out of Appfabriqa, the parent company. Being education focused, Preview Careers took their mission back on campus. Jennifer took the bright initiative to personally survey students on campus one on one to understand their pain points when it comes to careers. She quickly built out a sign up page on Wix and starting building out features that the users wanted.

Jennifer’s customer-focused attitude is something that came from her previous startup experience and drove much of how the startup was run. It was a major influence on hiring decisions, product features, task management, etc..

What does a typical week look like for this founder?

She works from 9am-9pm consistently. (It’s pretty impressive!)

Preview Careers’ scores on VenturX’s Entrepreneurship Tool

Preview Careers’ scores on VenturX’s Entrepreneurship Tool

Mornings:

· Starts work at 9AM

· Design creative assets for marketing content in order to acquire new student users

· Send emails and update her team

Afternoons:

· Track user sign ups and send them over to product manager

· Customer research via online forums, social media, feedback from users to further identify the pain points and analyze in depth research of this market

· Attend afternoon meetings: check out new office space, interview new brand ambassador for student user recruiting at UBC, etc..

· Film mentor videos for website all around Vancouver

Evenings:

· Review marketing content from Marketing Intern

· 9PM meetings with her international team

What is Preview Careers?

The PREVIEW mission is to help driven, ambitious, young people explore and discover which career paths will lead them to doing work they love. PREVIEW believes that one of the key ways to exploring the career opportunities that exist, understanding the competitive landscape of the job market, and knowing the nuances of specific roles/titles is through connecting with mentors/advisors that can share their experiences, insight, and wisdom.

www.previewcareers.com

www.previewcareers.com

What is the next big milestone?

The next milestone is preparing for Back to School! If you are a university student in Vancouver, check out Preview’s student activities and giveaways on campus coming September 2017! Don’t miss out! Sign up today at www.previewcareers.com!

Get connected to your next mentor!

Preview Mentors

Preview Mentors

That is all for today! If you are a student or mentor and have questions for Preview Careers, we added her contact info at the bottom!

Contact info: Jennifer Chan

Email: Jennifer@appfabriqa.com

Linkedin: https://www.linkedin.com/in/jenchanbarnes/

Website: https://www.previewcareers.com

Share this:
Posted by VenturX in Founder Spotlight, 0 comments
Success Doesn’t Just Happen, It’s Planned For!

Success Doesn’t Just Happen, It’s Planned For!

Success Doesn’t Just Happen, It’s Planned For!

Startups plan and plan and plan…but where does it all go?

We wanted to find out how many startups like to draw out plans so we sent out a survey across Canada and the US to 175 startups. A whopping 68% of startups still like to use Post Its and visually draw it out. Nowadays, we have so many amazing business tool that we can use to make sure that your plan is:

  1. Improving your metrics (ie. conversion, engagement, etc..)
  2. Thorough (so not a single note gets lost)
  3. Visual (65% of people are visual learners according to Forbes Magazine Article — https://www.forbes.com/sites/tjmccue/2013/01/08/what-is-an-infographic-and-ways-to-make-it-go-viral/#6452cd047272)

So check out how your startup is planning for your success!

Old and New Ways to Build Your Strategic Plan

Old and New Ways to Build Your Strategic Plan

For more ways to make sure you are planning SMART, check out this great read: http://blog.venturx.ca/2017/08/23/smart-startup-goals/

Thanks for reading!  If you enjoyed this article,

Say Hello On: Instagram | Facebook | Twitter | Youtube | LinkedIn

Share this:
Posted by VenturX in Blog, 0 comments
4 Reasons Why Startups Should Take Advantage of Business Intelligence

4 Reasons Why Startups Should Take Advantage of Business Intelligence

What is Business Intelligence?

Since starting my customer discovery, I have noticed that a lot of startups do not track their metrics. I don’t just mean the metrics that VenturX focuses on (Product Market Fit, Real-time Runway, Conversion, and Engagement); I mean most startups do not look at any metrics on a weekly basis. At first, I thought it was because some people may be less analytical types than others. But one day, a startup finally told me the answer.

I don’t have enough data to track! [It is not reflective of my business.]” — Local Montreal Startup

What do we mean by data?

Data is a collection of facts and quantities used for analysis. In this case, we mean tracking your customer interviews and meetings, revenues and expenses, industry metrics, how many customers signed up this week, how many customers are retained, etc.. All data is good data as long as it is tracked accurately and updated regularly. Business intelligence is the process of analyzing data to make business decisions. 

1. I don’t have enough data to input!

Quality over quantity. Keep in mind that 2 early adopters who love your product is far better than 100 surveyed people who are only so-so about it. Those 2 that really felt the problem your startup is trying to solve should definitely be tracked.

What to do next: Investors want to see how much you have evolved over time. Tracking early is the only way to show improvement!

2. I am too busy to input my data

Time is Money! If you don’t start tracking from the very beginning, you might end up losing running into dead ends without even knowing it!

What to do next: Spend 10 mins/day to track your data with VenturX and save yourself months of pursuing the wrong path. Almost all startups who ignore data tracking don’t see how much time is wasted. It is just a way for founders to be very conscious of where they invest their time and money.

Time is money

3. I won’t want investors to see my metrics

Investors do want to see that startups are using business tools to monitor their customers, finances, teams, and project. Not only do you need to have intimate knowledge about how well your startups is doing but you also have to be able to prove it. There is nothing better than seeing a visual of how your business is doing. Investors are keen on data driven results and decisions which is a great habit to form for all startups. Don’t worry if your progress at that stage looks bad, the improvement is the most important part. If you only track when you are rising, it doesn’t look like you improved by very much. You need to show how much you have learned.

“It is not about how much you fall, it is about how quickly you get back up.” — Barbara Cocoran

What to do next: Sign up today www.venturx.ca to get into the good graces of VenturX’s list of investors.

4. It is not reflective of my business

Business intelligence focuses on the business as a whole, not just one particular part. The business includes customers and users, finance, product,etc.. Some founders are technical product managers while others have team management skills. All founders need to be focused on the overall well being of the business, not just the parts they are comfortable with. This is a big reason why some founders feel discomfort when seeing that their metrics are low regarding some parts of their business. The good news is that modern business tools also come with hints on how to improve on weaker parts of the business!

VenturX Startup Dashboard with Hints

What to do next: Make sure to use a credible and well-rounded tool like VenturX to get the most benefit!

The bottom line is why wouldn’t startups want to use every resource in their toolbox including tracking their data to make smart decisions? Corporations have been using business intelligence with all their C-level executives forever so wouldn’t startups want to model after those best practices?

VenturX is a startup success tracker that focuses on early stage startups who want an operational view of their Product Market Fit, Conversion, Real-Time Runway, and Engagement. Its unique SMART scoring mechanism will provide hints and daily SMS notifications when you reach danger zones in your scores to help you quickly improve. As an added value, you can also submit your metrics and application directly to Seed and Series A investors on the platform with just one click! For more info, go to www.venturx.ca

Why Venturx? In comparison to corporate business tools that are not customized for startups, this is is only a fraction of the price. So this is a very affordable tool with credible value, real time metrics, and even connect to investors who favour analytics and metrics at the startup stage.

Share this:
Posted by VenturX in Blog, 0 comments
Why every startups need metrics!

Why every startups need metrics!

In this article, we are taking a deep dive into why young companies should track their metrics right from the get go! Here are three reasons to start today!

Before we dive into the reasons why startups need to monitor their metrics, we must first take a look at a few misconceptions as to why early stage startups currently prioritize metrics.

Misconception #1: “I am not tech savvy enough to monitor my metrics!”

HBO’s Silicon Valley —Dashboard

Don’t be scared! You do not have to be super tech savvy to get your metrics!
Nowadays, there are many tracking tools that can help you clearly monitor your metrics whether you are an online or offline business. For examples of easy user dashboards, send us an email.

Misconception #2: I do not have enough data to even track them!

You have to start somewhere! Start at 0 users! Keep in mind that is the same starting point that Facebook, Google, Apple, and that hair salon down the street all started at! The important thing is to JUST DO IT! did you think they waited until they had 500 or 5 million users before they started to track their basic metrics? NO!

3 Reasons why startups need to start measuring their progress now!

1. Make your targets

Knowledge is power! Learning about your metrics can only help your team meet targeted quarterly or monthly goals. For a great example for early-stage startups, I refer you to the Lean Analytics book by Alistair Croll and Ben Yoskovitz. They created a great chart to show what lean metrics you show what to focus on depending on what stage you are at.

Lean Analytics Book: Use Data to Build a Better Startup Faster

Startups tend to focus on a lot of things that are not their short term targets. For a deeper dive, check out this article: https://medium.com/@VenturX_team/3-startup-mistakes-what-do-young-startups-focus-on-besides-their-metrics-9a59f17d84e8

2. Not waste time and money on the wrong things

Time is money! Key performance metrics (KPIs) may differ from department to department in big corporations. Early stage startups should see this as an advantage. When teams are small, everyone can just focus on one or two key metrics; they need to have that be the focus on where resources, time, and money is invested in. Once that goal is achieved, you can make another goal. That is exactly what metrics do. If you don’t have a particular goal in mind, tracking tools like VenturX can help by giving you industry benchmarks for early stage startups.

3. Helps prioritize your tasks — things that move the needle

When early stage startups go through the feedback cycle (build, test, analyze, and repeat), having your key metric(s) can help your team prioritize which task to focus on for the next product release or iteration.
For example, if your key metric is to increase engagement, then your team may want to prioritize the features that would keep your customers using the product for longer. You may also want to de-prioritize other features related to marketing channels and conversions.

Share this:
Posted by VenturX in Blog, 0 comments

Founder Spotlight: Shayne Morten of Flexiship— From Race Car Driver to Entrepreneur


Founder Spotlight: Shayne Morten of Flexiship— From Race Car Driver to Entrepreneur

Shayne Morten of Flexiship

Shayne Morten of Flexiship

Our team had an amazing opportunity to shadow Shayne Morten, Founder of Flexiship, for a few days. Flexiship is an on-demand delivery service in Montreal! We posted about Shayne’s tips and trick for lead generation, sales, and much more! To see these videos, check out our Facebook page.


Tell us about your company

Flexiship is an on-demand delivery app you will no longer have that problem. With the Flexiship on-demand delivery service you can get your packages immediately! It allows you to request any type of delivery to be picked up and dropped whenever and wherever you need it.

As soon as an agent accepts your order, you will be able to track the progress of your delivery until completion. It’s that easy!

Montreal Delivery Service - Flexiship

Flexiship is at Your Service!

What is founder Shayne Morten’s background?

Shayne used to be a racecar driver who sold ad space on racecars to corporations for sponsorship. This on the field training gave him the drive and sales experiences to turbo charge his startup. Shayne Morten is a graduate from Defi Montreal in 2017 where he learned traditional business process. Since then he has done business on the product side, team management side, sales side at the same time.

“Shayne drives to get things done. When [something] needs to be updated, he is on these guys right away day after day. Persistent and consistent!”

 — Bill Lowson, Investor & Partner, Flexiship

As a sales focused entrepreneur, we can easily see how his actions affect his success metrics. Check out his scores below.

What does a typical week look like for this founder?

Have a startup business? Find out your score @ www.venturx.ca

Have a startup business? Find out your score @ www.venturx.ca

Mornings:

  • Wakes up 8AM
  • Answer emails to confirm meetings

Afternoons:

  • Product meetings to focus on what to build and which agencies to hire
  • Interview new team members
  • Strategy updates with investment partner
  • Make cold calls, visit local stores for lead generation and sales
  • Steps to making lead generation for geography based enterprises
  • Googles Map flower shops in the area, and visit each one, leaving a card with a unique promo code

Evenings:

  • Family time
  • Answer sales emails

We got some great sales inspiration from Shayne, like what do you if a lead already uses your competitor. Clearly Shayne knows how to hustle!

Contact Shayne Morten at Shayne@Flexiship.ca or on Linkedin, and check out Flexiship at www.flexiship.ca.

Also check out Shayne’s awesome live interviews at: https://www.facebook.com/venturx.ca/videos/328915414197137/

Share this:
Posted by VenturX in Founder Spotlight, 0 comments