School for Startups Minutes

Use small experiments to test your different messages. Use A/B testing to try different variations of your copy, your price, your imagery. All of those things can be tested using Google Analytics and other tools.

One of the ways to do free or very cheap market research is to talk directly to your potential customers. You can do that by going to trade shows. There's a trade show for every industry, and just walking up to people and asking if you can ask them a few questions — they will probably help you. Or you should have a list of your potential customers. Call one of them and say, "If I developed a tool...

One of the inexpensive tools that we can use to do market research is to conduct surveys and polls. Again, that sounds like it could be really expensive, but luckily, there are many free platforms that allow us to create short, simple, focused surveys that we can post on Facebook, in different groups, and put them in forums or on Reddit — another good place to post to get the data that you need.

Part of any market analysis will be a detailed analysis of your competitors, and luckily, so much of that can be done for free by studying their websites and their reviews. The customer feedback that they get will give you incredible insight into how their products are being received and how the customers think of them. Also, use Moz - it's a free SEO tool that will help you find out what keywords...

We all know that market research is absolutely critical, but when you're just getting started, you usually don't have a budget for it. So, this week we are talking about how to do market research on a budget. I'll give my first tip right after this. When you are doing market research on a budget, we are very lucky because there are many free online tools and resources. Google Trends will help anal...

Now that we have talked to our customers and gathered their feedback, we need to make the adjustments that will make them happy. Whether it's rearranging our store, redesigning our website, adjusting our prices, or training our team to better serve customers—whatever it is, we have to do it. The importance of this process lies in learning, continually iterating, and making your company and its pro...

After you have studied the customer profile, you need to collect feedback from them in normal ways—things that won't freak them out. Offer them discount cards or talk to them casually and ask simple, natural questions, like "Why did you come back?" or "Would you recommend the store?" Also, be sure to monitor word of mouth and all social media platforms, and respond to everything you see online—esp...

Once you have the customer profiles or avatars, you need to observe each group and learn their differences—both online and offline. Watch how they shop: do they linger, do research, compare costs, and evaluate different options and prices? Do they buy things in bundles? If they always buy A, does that mean they're likely to buy B and C as well? If you learn these things, you can sell more. 

The second step to understanding your customer journey is to build real-life customer profiles—or avatars. Start by talking to real buyers in your store, at events, or even by calling them on the phone. Ask why they chose your store and your product. Find out their common traits: lifestyle, shopping habits, budget, and values. Are they all eco-conscious? Is that the buying pattern of everyone? It'...

I hope you're having a great week, and I think understanding your customer's journey will make it a better week because you will sell more. That's right. You need to know the path—the process that your customer goes through—and you should design that path so that it is a pleasant one. This week, I will talk about the five steps for understanding your customer's journey better. Today, in the beginn...

Your hobby — that thing you do to relax, maybe just watching TV in the evening — is going to have to be put to the side. You're going to need to invest many hours in this new business. So, whatever you usually do to relax will have to go away. Your new joy is starting the business, and that's what should occupy your free time and mind space.

Set a clear sales goal for when you will quit your job. That's right — we get to talk about actually leaving that job. But when? When you have a hundred thousand in sales, or when you can afford to buy your own independent health insurance? You need to have a clearly defined goal so you know what the end looks like.

As you prepare to start your new business, you may consider changing your job so that you have more free time. Can you take a lesser job for less salary, but work at home so you have free time to start your business—keeping your health insurance and some income? Maybe that's the route. Consider having an inferior job so that you have more time to start your business. It keeps the health insurance...

When you start a new business, one of your first and most unexpected partners might be your current boss. I know that sounds crazy—but hear me out. If possible, go to your boss and say, "I'm starting a business, and I'd like to adjust my hours. Can I work from 7:00 to 3:00 so I can handle my FedEx and UPS shipments in the afternoon?" You'd be surprised—many bosses will respect your initiative and...

This week, we're talking about reducing your risk. I want you to do everything you can to minimize risk so that starting a business becomes an absolute no-brainer. We'll walk through several ways to do that—so when you launch your business, you'll have transitioned gradually from your day job. Keep your current job so you maintain your insurance, and begin building your business on the side. When...

What makes America great is its multi-generational businesses. Second- and third-generation businesses earn my trust. If I see a plumber who's been around for 50, 60, or even 70 years, I'm going to hire that company—I trust them more. Multi-generational business is a true American innovation. Yes, it existed in other countries before, but it didn't become a cornerstone of the economy until the Ame...

Some of us don't work well with others. Some of us need to have our own business to be happy — and that's one of the great things about American entrepreneurship: you get to be in charge. Wear what you want, work when you want, commute where you want. That freedom makes millions of people happy. If you don't work well with others, consider becoming an entrepreneur. You might be a lot happier.

American small businesses are fighting racism, sexism, ageism — all of the "-isms." When I buy a product, I don't care about the personal details of the seller. I care about price, service, and quality. Entrepreneurship is one of the great equalizers. Small businesses make the American Dream accessible to all, regardless of race or any other label. The best way to create equality in America is thr...

According to the U.S. Department of Labor, small businesses contributed 55% of total net job creation in the past decade. There are currently 33 million small businesses in the United States, making up 99.9% of all U.S. businesses. These businesses employ 62 million people, representing 45% of the entire workforce. Small business is America.

It's so common these days to focus on what's wrong with America — and yes, there are things to fix. But this week, I want to celebrate why America is the greatest country on Earth, and especially why it's the best place to be an entrepreneur. The passion of small business owners makes both our country and the world a better place. So many entrepreneurs are driven not just by profit, but by a desir...

The things you need to do to start a new business and this week we are focusing on a marketing project that you need to start. Surprisingly soon. I believe email marketing is one of the most effective strategies available. These are people who have visited your website and made the decision to follow what you're doing — which means they're already interested and engaged. As a result, this group ty...

Step five is to create an email system that delivers consistent value. Aim to send a fresh email every week (or so) filled with insights, helpful information, tips, and tricks. The key here is to build trust — don't ask for a sale right away. Instead, focus on delivering value at least six or seven times before making a pitch. This approach builds credibility and increases the likelihood of conver...

Step four is to actively promote your email list, your website, and your lead magnet — the free gift you created. You want to promote it as widely as possible and give away as many lead magnets as you can. The more you give away, the more email addresses you'll capture — and that means more potential customers for your business.

Step three is capturing the email addresses. Once someone submits their information, you'll need an email marketing platform such as Mailchimp, ConvertKit, or MailerLite. These tools serve as a repository — a database where all captured emails are stored. Later on, they allow you to market directly to your audience through targeted email campaigns. And as I mentioned earlier, email marketing is li...

Step two is to build a landing page on your website where new visitors can learn about the benefits of signing up and sharing their email address. While the lead magnet is the immediate incentive, this step is crucial because it begins the relationship — setting the stage for effective marketing down the line.