In this episode Jake talks about ways to handle investor objections that ensure you get a 'yes' at the end of your pitch.

Launch Chat

Handling investor objections

In this episode we field a question from someone who has a ton of 'startup skills' but can't seem to find an idea to work on. Jake breaks down the methods he uses to find great ideas and how to use them. Join our free Idea Program at https://launchpeer.com/idea

Skills without ideas?

In today's episode Jake talks about the number one skill he wish he'd mastered at the beginning of his startup journey, and why it's probably not what you think...

Top skill for new entrepreneurs?

In this episode Jake talks about what it's been like being married for 12 years and building his business for 6, and 12 specific tips that entrepreneurs should take in order to make life easier for themselves and their families during startup life.

Tips for growing a family while growing a startup

In this episode we talk about what factors you should consider when trying to decide between building a B2B or a B2C startups, and what Jake's preference would be if starting up.

Should you build B2B or B2C?

In this episode we talk about why competition for your startup doesn't matter, and how to turn competition into your best friend. Want to ask a question? Go to LaunchChat.com and post it there. Want to join our free community? Go to Launchpeer.com/join and request an invite.

Why Competition Doesn't Matter

In this episode we talk about whether it's best to rebuild your app to go faster, or just stick with what you got.

Rebuild or Keep Going?

In this episode we talk about how your startup should handle the competition (or if you should even care about them in the first place).

How To Handle Startup Competition

In this episode we talk about whether or not PR distribution services work, and also whether PR is even worth your time as a startup founder.

Paying for PR Distribution

In this episode we talk about whether you should build your startup 'in stealth mode' or tell everyone you can about your idea.

Tell People About Your Startup?

In this episode we talk about whether or not you can have too many cofounders, and what you should do to ensure your team is set up for success (and you're protected).

Too Many Cofounders?

In this episode we break down some strategies entrepreneurs can use to beat perfectionism and keep pushing toward their goals.

Beating Perfectionism for Entrepreneurs

Today's QuestionToday's question comes from Pete. If I were to use a Facebook or WordPress page to test the validity of my idea, would this be enough to act as an MVP?Jake's AnswerThe best way to define a MVP is that it is a solution that allows you to acquire users. Generally speaking, it's the minimum product you can build to get users.Emphasis on minimumMost problems can be solved with simple solutions that are mostly manual in the beginning. Is it an ideal solution? No. But does it get users in the door and allow you to validate your idea? If the answer is yes, then it's a suitable MVP. If you can take your results from the product and show traction and usage to investors, then it works as MVP.Questions to ask when building your MVPCan it be built for less than a few hundred dollars? This would be something like creating a WordPress site and then syncing to an email service.Is anything on your features list something that can be done manually? Can you or a VA take on the tasks and do the same thing manually that you want to automate?Founders often worry that what they're building isn't valuable enough if they don't add all of the features or automate processes? If you build something that only costs a few hundred dollars and you don't get any users, you can always move forward and build more features anyway. But if you build a product with a bunch of features you can't step back and then build a simple, inexpensive MVP."A MVP is the minimum amount you can do to acquire users. Most founders forget this and feel they need to do more before they can validate their idea."Ask your own questionGot questions about startups and/or startup culture? We’ve got answers. Head over to LaunchChat.io and record your own question to have it featured on the show.Join our mastermind for Startup FoundersJoin our free Facebook Group for founders working to build, launch, & scale together with the help of our startup experts at Launchpeer! Get more details and join the club at Launchpeer.club.Launch Recipes BookOur team is writing a book and it's nearly ready to ship. We profiled 40 of the biggest startups of the 21st Century and documenting how they scaled their businesses. If you want to claim your free book, visit LaunchRecipes.com.Stay in touchAsk your own questionFollow Jake TwitterCheck out Jake's articles MediumJake's personal siteCheck out LaunchpeerFollow Launchpeer on Twitter

What is an MVP?

Today's Question Today's question comes from Josh. I was recently contacted by an investor online and I am wondering which elements of my startup I should emphasize on the phone, as my previous investor pitches haven't amounted to anything. How can I spark excitement about my startup over the phone? Jake's Answer Investor meetings over the phone or by video conferencing are becoming more common so this is a great question. Let's break down Josh's question: 1) Which elements should I emphasize? Don't go into too much detail. Investors don't care about all of the features of your product. They care about scalability and its ability to acquire users. They also care about you as a founder and a founding team and your ability to grow the business. The final thing they care about is if you are addressing an actual problem in the market. 2) How can you stand out on the phone? How I talk on the podcast is not how I talk to people in real life. Same goes for when you are on the phone. You have to be overly excited and accentuate everything. If you go on YouTube and look for videos on how to start a YouTube channel, they will tell you that you have to go over the top to stand out. These tactics work for phone calls, too. It's something you have to practice. 3) How do you gauge an investor's excitement over the phone? It's difficult to do this because most investors don't overtly get excited about startup ideas. One of things we talk about often is how you negotiate with an investor. When you get off the phone with an investor you should come away with something. It's getting some kind of next step agreed to verbally before you hang up. It can even be a clear pass from them, but that's still better than letting them 'think about it'. "With investors, focus on where your startup is going, not necessarily where it is today. They are investing in what your company will become." Ask your own question Got questions about startups and/or startup culture? We’ve got answers. Head over to LaunchChat.io and record your own question to have it featured on the show. Join our mastermind for Startup Founders Join our free Facebook Group for founders working to build, launch, & scale together with the help of our startup experts at Launchpeer! Get more details and join the club at Launchpeer.club. Launch Recipes Book Our team is writing a book and it's nearly ready to ship. We profiled 40 of the biggest startups of the 21st Century and documenting how they scaled their businesses. If you want to claim your free book, visit LaunchRecipes.com. Stay in touch Ask your own question Follow Jake Twitter Check out Jake's articles Medium Jake's personal site Check out Launchpeer Follow Launchpeer on Twitter 

How to pitch investors in a phone conversation

Today's Question Today's question comes from an anonymous listener. I've been working on my startup for about 18 months, but I feel like it's been forever. I don't like the industry I'm in due to regulations and there's no grand vision for the product - I'm only doing it to make money. How do you know when to keep going or when to walk away from your startup? Jake's Answer A lot of founders go through this same thing. Over the years, I've been able to pinpoint when founders will feel like this in their journey. Most of the time, it's when the features are about 90 percent done. The last 10 percent usually takes just as much time as the first 90 for tech startups. This also happens when a product is ready to launch, which is usually related to imposter syndrome. Founders simply think their product isn't ready or they aren't the right person to launch it. General principles for knowing when to stay or walk away Have you created a list of reasons why you don't want to do this? If you have a list that means you've done more than just think about walking away - you've started taking action toward it. Have you felt this way over time or have you had ups and downs? Most founders don't spend enough time with self-awareness so they have a hard time tracing back their feelings to specific reasons or events. What's the alternative? Even if you meet these qualifications, that doesn't necessarily mean you should walk away. If you are at this point, then you should take the next step and think about what walking away really means. Do you really want to start over? Do you have something else lined up? You could even exit now and just sell your company and move on. If you are ready to walk away, then it's ok to do so, too. It's just important to think through everything and make sure it truly is time to walk away. "All founders go through ups and downs, but it's important to be able to trace those feelings back to specific triggers or events if you want to truly understand your mindset." Ask your own question Got questions about startups and/or startup culture? We’ve got answers. Head over to LaunchChat.io and record your own question to have it featured on the show. Join our mastermind for Startup Founders Join our free Facebook Group for founders working to build, launch, & scale together with the help of our startup experts at Launchpeer! Get more details and join the club at Launchpeer.club. Launch Recipes Book Our team is writing a book and it's nearly ready to ship. We profiled 40 of the biggest startups of the 21st Century and documenting how they scaled their businesses. If you want to claim your free book, visit LaunchRecipes.com. Stay in touch Ask your own question Follow Jake Twitter Check out Jake's articles Medium Jake's personal site Check out Launchpeer Follow Launchpeer on Twitter 

When to keep going and when to walk away

Launch Chat is a daily show answering all your startup questions. If you're an entrepreneur or startup founder trying to build the next big thing, then listen as we dish out knowledge about how to raise angel investment, build an app, get traction, and everything in between. Hosted by Jake Hare of Launchpeer, the show combines his (and his team's) working with hundreds of startups around the world and distills that knowledge into actionable 15-minute episodes.

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Launch Chat

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