Entrepreneurship Foundation with Kim Kaupe (Marketing (You are always the…
with Kim Kaupe
Why you start?
Boosting the efficient con
What’s my passions?
The accomplishment of helping people to achieve their goal: both financially and technically and personally!
Bring freedom to people in all age in anywhere in the world!
Are you mentally ready? (Calm)
Running and dancing
Books and podcasts
Are you ready to run the race?
Are my people ready?
My family: Yes
My GF: Yes
I won’t be able to go trip, and all...
I won’t be able to dance with you..
I won’t be able to give you massage
I won’t be able to kiss you...
I won’t be able to sleep with you...
I might even miss your message because of businesss
Pin point my weaknesses
16 Personalities read
Am I ready financially?
Start with a side hustle
Doing some part-time works?
We can still do full time
Find a low-cost market place.
Learn to sell your product!
When you do a service: try to do it for free!
They will help you to marketing that!
Working for free at the first time. :star:
Starting small helps you build a solid foundation!
Using your own saving?
You got to call all the shots!
Always pros and cons!
Know that someone has been there before
Finding how similar business started to finance (copy and improve)
Seek to understand the process (social media, linkedin, mouth ask, pitching etc.) Learn everything you can to ask: find that person, and have a phone call to that core person.
Ask for advices (right/wrong/advice to me) just like in dance private lessons. (fully prepared and confident in financing your biz). How, who, where.
There is no right or wrong!
Bootstrapping (starting a biz without using outer resources)
We do take outside help!!! (big difference)
A charge cards is
Unlimited credit as long as you have the balance within 30 days.
Keep cash on your hand.
Not taking cash out of the business!
Take only what you need to pay your bills.
Every dollar into business! Saving all the time!
All control and full ownership! (slow and firm)
The VC worlds
They are just common people.
Taking VC doesn't means success. But they gave you advantage
Advice and suggest
Cash to grow
VC is not necessarily your vision.
Seek legal advices: all the options
Startup legal attorneys
Early-stage law firms
Use linkedin groups: who they recommend
Reach out to local startups and see what's their advices.
Deal structure to learn:
BEFORE YOU SIGN ANYTHING!
Friends and Family financing
Legally document (lending, amount...) Important in keeping things clear
Let them know the worst case scenarios in the day one!
Don't invest doesn't means not loving you.
Don't take it personally.
Don't forget to let them updated.
email list (stick to it)
Keeping them in a loop: let them to help you on the way.
What’s my worst case scenario?
Living with my parents in Shenzhen.
Even if my balance is zero, I still have my family to fall back on.
Zero dollars tomorrow?
Cover what could go wrong
Ask yourself in each step
Plan alternative plans
Goal: peaceful mind
I will need to think for what might go wrong as a leader
Having mentors and advices are must
Where to find?
How to find?
Know that mentorship can take different forms
Can be anyone
Regardless of age or industry
Make the time count
Always < 30 for your meeting!!!
Find a handful of mentors and advisors
They might not be the funder.
Get a handful of mentor!
Opportunities and directions
Focusing on very specific factors
Only think of something that directly lead to capital growth
People that can actually sit down and do works?
Can they be remote? Or need to based in the company?
0 to Million is not the same as Million to Billion (CEO)
With you or around you, if not, seek other talented once to grow your business.
Find it! Get it and make it happen
Mentor contact on social networks
Vet your strategy
Ask for help!!!! :star: (ASK ASK ASK: that's your real weakness)
Making sure you are heading the write direction!
There is not second chance to scaling your biz, it always need to be right in the first time!
Have a meaningful reason to connect!
Birthday to remember
Set reminder to reach out!
Boomerang and Mixmax
Finding the right time to stand in front of them!
Finding a great name
Combo + frequent sounds...
Check for availability
Country pattern and trade mark: domain
Log onto all social media (to check that no one is holding your social media!!! you can still add some words)
Secure social handles
Apply for trademark
You can speak to it confidently! (Core)
Write down on paper your services and impacted industries.
Six degrees separation (network)
Don't be afraid to ask for help.
Ask for help! Tell family and friends what you need!
Making sure asking for what you need
The lone wolf dies, but the pack survives.
-- George R. R. Martin, A Game of Thrones
Bringing people onto your team
Life partner (Look in your network)
Convince them to join!
Meet in networks
Traits you are looking for
What my weakness are
Different Skills (not necessarily the same skills)
Tell others what you need!
Write down the type of skills and personality this person has.
Locate members I need
Quality > Quantity
But once the core joined:
Run as FAST AS YOU CAN!
Engaging early adopters (WIN-WIN is the key!!!)
Empowering others to help you
Keeps them coming back!
A whole group!
Personally visite each of them and take professional photos, and then join them for free
Win-win, help them to use more and take more advantages
Trading bot builder
Bring something to
Make them rock starts
Discount code that is not public
Social media moments/content: Cool!
Clear marketing strategy
Think long and hard about this!
Not just general!
You need to the direct audience to purchase. (Sell clothing to adults and not children)
Where to find the audience?
College: large group of young people!
When is the best time to approach (best selling time!)
When people absolutely need your products!
You are always the best person to tell your story
Start small and walk your way up!
Build off wins (to leverage the big ones)
Awards from your hometown, then to the state, and then the Forbes.
Focus on the business outcomes
Pitch yourself regularly
Social Media Strategy
Are your customers even on social??
Just like finding GF in ballroom club, instead of night club.
Which channel are they mostly on?
[Amazing contents] Creating and up keeping meaningful content is time consuming...
Product based marketing
Easy: just check the referral link count and buying count.
Sale your products
Find business that believe in us: to all perspectives.
Light minded partner
Choose consumer-facing partnerships
Including charity cultures.
Small give, BIG REWARD
Look behind the theme, and the surface!
Think big/small, in/out! (no need to be big flagship company partnership
Find Your own biz coach! (Business Coaches)
In-depth business analysis
Your success if their full time job!
A biz coach does this all day!
A great amount of insights
They only know you
Peers (other founders)
Ask other entrepreneurs
STOP the bleeding in your marketing plan as much as you can.
Be flexible is the key! Be as flexible as you can!
Assess the problem!
Talking to customer
Check social media channels!
This is the key to find the
Like/Nice-to-have it is not necessary!
You got to pivot and know your customers are willing to pay!!
Have a dinner with friends and families that can cheer me up! (Bring you back to your true authentic self)
You don't need to prove anything for me to be me in front of them!
All the emotion from customers/client are to my business, and not to me.
Don't like to seek for help or ask! Only like to DIY.
Don't easily change my original direction, once started, will keep going
This is good, but sometimes bad esp. in a losing situation like in investment or trading.
:<3: Self Assessment
Heart, Smarts, Guts, and Luck: Entrepreneurial Aptitude Test (EAT)
Heart Dominant Entrepreneur!
Myers-Briggs Type Indicator (MBTI)
Strengths Finder 2.0
Worst Case Scenarios
Q; :check: How much do I spend, according to my bills, each month?
Food (restaurants, groceries, etc.)
Housing (rent, mortgage payment, etc.)
Debt Payment (credit cards, college loans, etc.)
Child Care (babysitting, daycare, diapers, etc.)
Transportation (car payments, subway cards, taxis, gas, etc.)
How much of this is recurring and consistent? For example, I know every month my rent is $2,500. Star (*) the recurring costs above.
• If my income were to suddenly decrease, which of these would I be able to stop paying or decrease my payments to?
• Can I transfer any of these expenses to others? For example, can your significant other pay rent instead of you?
• Can I swap favors or skills for things that cost money? For example, can you give piano lessons in exchange for free babysitting?
If you had no paycheck, who would be directly affected by your lack of income? Who relies on you for money?
a. Significant other? Y/N b. Children? Y/N
c. Family? Y/N
d. Roommates? Y/N
If I had no money what would happen to these individuals?
How can I prepare these individuals in case I cannot monetarily support them as I do now?
Who can help me come up with creative solutions to potential roadblocks?
Ready to Become a Business Owner
Questions to aak youself
I want to start a business because:
a. I want financial freedom
b. I want to set my own schedule.
c. I need to see this product/service in the market (
the ultimate trading platform for all ages and any ability groups + the data collaborative platform for all industries
d. I want the accolades and attention of being a successful entrepreneur.
e. I don't want to listen to a boss or work in corporate.
What if you cannot accomplish the goals in the very beginning?
I will still keep it up, since that's my life.
:bookmark_tabs:Books and podcasts :star:
Books to read
Start with Why
by Simon Sinek
Hearts, Smarts, Guts, and Luck
Good to Great
by James C. Collins
The Lean Startup
by Eric Ries
The Bad Blood
The HBR Entrepreneurship Handbook
Get Your Venture Backed
Startups From Cradle To Fame
HBR’s 10 Must Reads Ultimate Boxed Set + More HBR Publications
How to Measure Anything?
Autobiographies of famous people
The Score Takes Care of Itself
Podcasts to subscribe to
How I Built This with Guy Raz
The Time Ferris Show
Mentors and Advisors
4 Types of Mentors
Inside the industry / Know you personally
Potential Advisors: An old boss, a fellow entrepreneur/friend, or a friend at similar company.
In the industry / Acquaintance
Potential Advisors: A friend of an industry friend, your lawyer, or a past client you have a good rapport with.
Outside the Industry/Knows You Personally
Potential Advisors: A close friend, a relative, spouse/significant other, or a roommate.
Outside the Industry/Acquaintance
Potential Advisors: A recommended and trusted business coach or consultant. Make sure he or she has a current client list, so you can check references!
Harvard Business Review surveyed 45 CEOs with formal mentor relationships, and 84 percent said as a result, they have avoided costly mistakes and became proficient in their roles faster. In the same study, 69 percent said mentors helped them make better decisions, and 71 percent were certain company performance improved.
Potential clients, employees and other sources of advice -- all these types of people, and more, can be unlocked when you have a business mentor.
A good small business mentor can help define critical tasks and guide your business goals -- and more importantly, help the company hold itself accountable for meeting them.
A mentor may know the right person to turn to for help. Looking for the perfect person for a new role in the company? They could also recommend a contact from their experience in the industry.Having a stacked contact list is crucial for your business in the long run.
SCORE: Partnering with the U.S. Small Business Association, SCORE is a nonprofit that helps connect small businesses with volunteer mentors of both active and retired executives and entrepreneurs across 62 industries. There are 300 chapters across the country, so you can connect with a local mentor to meet in person, or you can set up video or email relationships.
Local networking events: These events are designed to connect you to other business professionals. Look for conferences or networking events for both your specific industry and small businesses in general, and try to speak to as many people as you can.
SBDCs: Small Business Development Centers provide assistance to entrepreneurs and small businesses by way of training sessions and free business consulting. Host networks for SBDCs are located all across the U.S. and its territories. Search for a location near you by using a tool on SBA.gov.
Women’s Business Centers: The Association of Women’s Business Centers sustains a network of 100 business centers across the United States, each of which supports female entrepreneurs with mentoring, as well as training, business development and finance opportunities. The AWBC also runs conferences, which can be great places to connect with potential mentors. Find a WBC near you.
Veterans Business Outreach Center: VBOCs provide many entrepreneurial development services, including mentorship, to veterans, transitioning service members, National Guard & Reserve members and military spouses who are starting or growing a small business. You can search for locations near you on the SBA.gov website.
MBDA Business Centers: As an agency with the Department of Congress, the Minority Business Development Agency works to promote the growth of minority-owned businesses, in part through business centers located across the country in areas with the highest concentration of minority populations and minority business owners.
Professional and trade associations: For a price, you can join a professional or trade association in your industry. Those dues go toward investments in many things, including education and networking -- usually with experienced business leaders in your industry.
Social media: Don’t neglect your own personal network when it comes to finding a mentor. LinkedIn and Twitter can be great resources for connecting with other professionals and potential mentors.
A decent mentor: not necessarily give you an answer, but can guide you to go though the process, and tell you what 'not-to-do'.
:star: Finding some body that lives your idea life
Work for them (for free), 90 days. Harder and smarter for that period. By the end of that day you either pay me or send me!
Win people over
Over prepared, and over deliver
Do your best and be extremely good on anything!
Learn faster than anyone!
Always be upbeat! Always to pick the hardest job! Always be positive!
Attentiveness + Positive energy + No complain
:red_flag: First identify them
Make that offer to 15 people!!!
(For free at first, but then parter up)
Learn a lot! (Knowledge connection) [Far more important than money]
Skills matters to life of you and your business! (Actually utility: skill acquisition)
The truth of power:
Close your eyes and imagine a work, and then open your eyes and make it come true!
Execution and actions and creativity
Core for Startup
Diet, 2. Exercise, 3. Mindset
Marketing Strategy :fire:
Launch Your Startup