Hi Ed. First off, thank you for this video. Based on my market research, product fit and user feedback, which stems from fellow startups, discussions with interested parties, businesses and individuals whom experienced the pain I'm addressing, the product falls between the painkiller to antibiotic levels. The product addresses a relevant pain which affects both businesses and individuals alike and can kill companies by severely affecting their financials and reputation. Your mention of the vitamin/painkiller/ antibiotic levels shed very informative light on my product. Question, if i may; Can i increase the valuation of my company by these estimates, saying that; we are an antibiotic in e.g. government and telecom markets. Therefore our valuation increases by e.g. 30%? Thank you again for your reply. Love the content! /Edward
You can't increase valuation using terms. But you can by demonstrating that you are an antibiotic with facts and numbers, even regulations. For example, if there is a new law that's passed and companies will either be shut down or fined, you can explain that you're an antibiotic that way. Hope that helps.
Ed , an investor told me that I needed a community around my product in order to write the first $100k check. It seems like a good idea to me since it helps to reduce CAC , increase brand loyalty etc , but building communities can take time , efforts and money , I watched my competitors social media and while I do see a huge amount of followers on their pages , I don’t see any engagement , as an example: lending tree has over 200k followers on Facebook and only 1 or 2 likes every time they post. Same in RUclips, Twitter and other social media . What do you think is the best approach to prove that I’m building a community when my product could be perceived as transactional by the market ? , and is it vital to build communities when launching a product ? Thanks in advance. I have revs
Thank you!
Great advice! Look for the "antibiotic" users need
Ccool thumbnail!
Hi Ed. First off, thank you for this video. Based on my market research, product fit and user feedback, which stems from fellow startups, discussions with interested parties, businesses and individuals whom experienced the pain I'm addressing, the product falls between the painkiller to antibiotic levels. The product addresses a relevant pain which affects both businesses and individuals alike and can kill companies by severely affecting their financials and reputation.
Your mention of the vitamin/painkiller/ antibiotic levels shed very informative light on my product.
Question, if i may; Can i increase the valuation of my company by these estimates, saying that; we are an antibiotic in e.g. government and telecom markets. Therefore our valuation increases by e.g. 30%?
Thank you again for your reply. Love the content!
/Edward
You can't increase valuation using terms. But you can by demonstrating that you are an antibiotic with facts and numbers, even regulations. For example, if there is a new law that's passed and companies will either be shut down or fined, you can explain that you're an antibiotic that way. Hope that helps.
@@edkang99 Thank you. It helps a lot.
Ed , an investor told me that I needed a community around my product in order to write the first $100k check. It seems like a good idea to me since it helps to reduce CAC , increase brand loyalty etc , but building communities can take time , efforts and money , I watched my competitors social media and while I do see a huge amount of followers on their pages , I don’t see any engagement , as an example: lending tree has over 200k followers on Facebook and only 1 or 2 likes every time they post. Same in RUclips, Twitter and other social media . What do you think is the best approach to prove that I’m building a community when my product could be perceived as transactional by the market ? , and is it vital to build communities when launching a product ? Thanks in advance. I have revs
I fully agree. Build a community. If you don't have big numbers, show engagement numbers. It's a major advantage to build a community.
@@edkang99 thanks a lot Ed I get right to it !