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Answers Ask Entrepreneur Home Business Operations Business Opportunities Sales & Marketing Advertising & PR Finance & Accounting Franchises Home Business Human Resources Internet/E-Commerce Legal Issues Starting Up Technology Most Recent Answers How Can I Streamline My E-Commerce Operation? What is SweatEquity Worth?
o Huge on PR, “Be Everywhere” is his motto – fly to NY, proactively everywhere he could get press. To make PR big you need to find a way to “make news”. To make PR big you need to find a way to “make news”. o CPM model gave him control over the information in the acquisition cycle so he focused on that. -
These days sales, marketing and PR people seem to grow on trees. Another option is sweatequity. It is important to realize that most people who are willing to work for sweatequity are not a) the best, b) in demand, and c) going to put their heart and soul into your project.
After all, sweatequity can make up for a trim marketing budget, but it would be hard to make up for cuts in product development and customer service without sacrificing customer experience. Instead, I had to scrape and claw my way through the pre-launch, startup process, and scale of my business.
You might consider starting with an offer to invest at a low valuation before discussing sweatequity. certain number of customer intros, quotes for PR) and meetings on a pre-specified, regular basis. It is up to you as the founder to keep your advisors accountable.
During the early days, these are your key contributors and they must be willing to put as much sweatequity into the organization as you are. Investors will not want to invest in a company that has landed itself in hot legal trouble and brands interested in sponsorships are wary of being associated with controversial PR nightmares.
For instance, if a consultant proposes to help you with public relations, pay them a commission equivalent to the greater of a flat fee per story placed or a percentage of revenue generated from the PR coverage. Such positions include: PR, Sales, Product Development, Lead Generation, Strategic Planning, Fund Raising, etc. Consultant.
Don’t exacerbate the issue by needing to figure out how to deal with a large equity deadweight on your hands (investors won’t like that the #2 stakeholder is absent, even estranged, from your company). So, the best way of dealing with this issue is to take a long, long vesting period for all major sweatequity founders.
All the important SEO tools that you need for paid traffic, social media, PR, and of course SEO. But assuming without a big budget it’s going to be more about sweatequity and putting in the time to create great content. Check it out at semrush.com/partner/ducttapemarketing , and we’ll have that in the show notes.
I would assume most businesses are going to claim they should get VC funding in order to help their PR, even if no one at the company actually believes it. Pepperdine Business Press Room – Graziadio School PR [.] [link] Matt Wrench “The businesses, it seems, vastly over-estimate their ability to raise funds. Think Again.
Im a UX and front end designer bootstrapping my own products with pure sweatequity at night but always looking for someone else to partner with(engineer/programmer)to bring these ideas life. Harry (2010-06-19) # Derek, I just discovered your blog and this article from Hacker News. Insightful. Thanks much.
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