“Startup money” - why no one gets it right

Key takeaways:

  • You need money to start your business.
  • If you have a pile of cash, and/or a side hustle, or other sources of income, great! You might need more.
  • The #1 area people underestimate the money needed to build a profitable business? Marketing.

There’s no such thing as, “If I build it, they will come.”

Otherwise, you stay in the “swamp,” a bleak place where you squander valuable time because you don’t have enough people looking at your product to know… does the market want what you sell? Or, have you simply not yet reached enough people to know? You need to make a splash 💦 and bring in the visitors, with marketing.

Questions, comments? Just drop them in the comments.

It’s BYOMB….  Bring your own marshmallows, baby. 🍢

3 replies on “🔥 Fireside Chats🔥 Startup money”

Great video, thank you! So nice to have inside talk. Wish I had that uncle! 😉

I have done the research, invested in my brand and platforms and am now out in the world building audience and sharing content. Any ballpark on a dollar amount that typical start-ups are spending on ads and overall marketing at this stage?

Hi Kate, moreso than total spend, you want to figure out your Cost Per Lead. Are you familiar with this concept? For example, If you spend $100 and get 10 opt-ins, that means your CPL = $10. And then if 10% of your 10 leads (1) spends $500, that’s a 5x return on spend and then you GROW. It’s all about cracking that nut first, and then investing in the formula. How much you spend dependson your CPL and what % of your “leads” (email subscribers) purchase. Over time you’ll see patterns emerge.

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