Startups: How to Do PR, Find Investors, & Deal with Failure (Work Management Roundup)
Welcome back to the weekly Work Management Roundup, where we bring you the best reads from around the web on productivity, work, and management. This week, we shine a spotlight on startups: how to do PR before you launch, how to find investors, what to ask job candidates, and even how to deal with failure. Read on! 10 PR Strategies to Follow When Launching a Startup (Pressfarm): You don't just launch on the day itself, you need to prepare weeks before. This article walks you through 10 steps to do BEFORE the official birth of your startup. This Is Why So Many Entrepreneurs Can’t Find Investors (Fortune): In this opinion piece by Wrike CEO Andrew Filev, he argues that startups should move away from asking for investors in order to finance their product development. Instead, new companies should bootstrap until their product gains an audience and some traction before seeking funding. We Got 10 CEOs to Tell Us Their One Killer Interview Question for New Hires (Quartz): While some of these questions resemble the eternal favorite "Where do you see yourself in five years?", there are a few that are unique. Whether you're searching or hiring, it's a good idea to take a look at what these CEOs consider the killer question that reveals the most about job candidates. Treat Failure Like a Scientist (James Clear): With each experiment a scientist does, every failure becomes a data point that eventually leads to the right answer. Therefore, when failure comes, instead of sobbing in the pouring rain, roll up your sleeves and try again. The Quarter of a Trillion Dollar App Bonfire (Medium): When 80% of the 1.2 million apps in the App store are considered "zombie apps" because they have so few users, it prompts the question: how did there get to be so many? The simplest answer: developers built their apps without first figuring out if there was a real audience for their product. A team is united when it sees the same vision. Anant Mediratta, CEO & Founder of WiseCalvin says: “Get your team on the same page, aiming for the same goal. Sit down with the team and explain your short- and long-term goal, and be open to their suggestions. Discuss how you have planned to hit those goals, and then assign each of them their respective work.” #wrike Copy and paste the URL into your browser to read the full blog post: ------->>>>>>> http://bit.ly/18TeamTips A photo posted by Wrike (@wriketeam) on Feb 24, 2016 at 7:19am PST More Work Management Reads Think About This: Why I Quit Google Inbox (Medium) E-Commerce: Convenience Built on a Mountain of Cardboard (The New York Times) How People Learn to Become Resilient (The New Yorker) Go Try This: 7 Tips for Getting More Responses to Your Emails (With Data!) (Boomerang) How to Build the Perfect Team (Slideshare) How To Market YouTube Videos More Effectively (Small Business Trends) Browse The Work Management Roundup on Flipboard If you use Flipboard on your mobile device, you can check out these links (and more!) via The Work Management Roundup magazine. View my Flipboard Magazine.
Perfecting Your Startup Investor Pitch Deck: 3 Essential Links
One of the highlights of being an entrepreneur is telling people about the amazing startup you've built — whether to attract investors, users, or prospective hires. It's a highlight as well as possibly the most nerve-wracking moment of an entrepreneur's life: that moment when you're before an audience, alone with your pitch deck, trying to communicate why they should care enough to invest their time or money in your company. The art of creating your startup's pitch deck is one that has wrought a thousand and one blog posts. There is a lot of advice out there, given out by angel investors and successful startup CEOs alike. You can even access a host of decks written with startups in mind on Slideshare. Having combed through a myriad of resources, we've concluded that these three links below are absolutely essential to crafting and polishing your startup's pitch deck. Ignore them at your own peril. 1. Reid Hoffman & LinkedIn's Successful Series B pitch to Greylock A decade after it was presented in 2004, this deck is still essential. It's an amazing resource, showing each slide along with accompanying insight from Reid Hoffman, LinkedIn's co-founder (and current investor at Greylock Partners). Hoffman offers advice on how entrepreneurs should approach the pitch process, while providing context for the tech climate of 2004. Best Tips: Open with your investment thesis: what prospective investors must believe in order to want to invest in your company. Steer toward objections. There will be a few issues that could present problems for your financing — address them head on. 2. Guy Kawasaki's Pitch Deck Template Pitch Deck Template by Guy Kawasaki from Quintin Adamis Back in 2012, author, noted entrepreneur, and chief evangelist Guy Kawasaki posted an alternative pitch deck template on his blog. You can download the full PowerPoint here. He discusses the pitch deck formula in depth within the post, giving pointers that he says no investor will actually tell you, because it's always easier for them to smile and say, "That's interesting." Best Tips: When it comes to PowerPoint pitches for your company, think "Hot Or Not", not eHarmony. Your investors decide if your company is “hot or not” in a matter of seconds. According to Kawasaki, the best-case outcome of a pitch is not a request for money wiring instructions. There is a more important goal: rising above the noise and avoiding elimination. You want to “live another day” and get to the next stage: due diligence. 3. Crowdfunder's Investor Pitch Deck Template Over on Forbes, Chance Barnett, CEO of Crowdfunder.com, contributes a downloadable PowerPoint deck template that distills the investor pitch formula down to 11 core slides every deck needs in order to get its point across clearly. Barnett's pitch deck formula is based on his extensive experience raising money for his own ventures, as well as looking at over 10,000 pitch decks on Crowdfunder. You can download his Investor Pitch Deck Template (PPT) here. Best Tips: Including too much information in your initial pitch can be counterproductive. You want to leave some questions unanswered, hit the big points in a clear way, and avoid over-sharing. Put key numbers and traction at the very beginning. This grabs attention and clarifies the market opportunity, especially if the numbers are good. What other pitch deck advice do you have? Do you have suggestions of pitch decks that should join this list? Hit the comments and show us the light.
Dos and Don'ts of the Startup Pitch: Expert Advice from 5 Famous Investors
Entrepreneurs are generally confident people, and yet most confess to experiencing tremendous anxiety when it comes to pitching investors. Standing in front of a group of people who can make or break your company and asking them to invest money in your business is an intimidating prospect. How do you start your deck? How long should you present? What kinds of details do you need to include? How do you make a good impression? Well, who better to give advice than the very people you'll be pitching? These 5 serial entrepreneurs and veteran investors outline what you should and shouldn't do when pitching your business: Chris Sacca, veteran VC DO talk about why you are uniquely qualified to follow through on your business idea. What experience or expertise do you have that gives you an advantage over everyone else? What sets you apart from your competitors? DO instill FOMO: "fear of missing out." Most investors have passed up an opportunity that later went on to be profitable, so make them worry they’ll regret it if they pass you up. DO talk endgame. Investors want to know what your plan is for acquisition, ideally in 3-5 years’ time. Give an example of a company that would consider your business an attractive acquisition. DON'T ramble. Keep your pitch short, simple, and specific. You should have a 2-minute version of your pitch that conveys your basic business model, your "unfair advantage," and an exact funding target. You're not trying to raise "between $1.5 - 2 million." You're raising “$1.8 million.” Brian Cohen, Chairman of The New York Angels DO talk about your financial plan. What's your main revenue stream? Discuss why the problem you've identified is profitable, why your solution is viable, and how you're going to make money. DO discuss the market trends that are driving your product. Investors are curious people and want to stay on top of the latest, so satisfy that curiosity and make a good impression by teaching them something new. DON'T be vague when discussing how the investment will be spent. What are you raising money to do, exactly? And why now? Chance Barnett, CEO of Crowdfunder DO find someone in your network who can introduce you to investors (ideally someone with a strong reputation). Send whomever you’re asking to make the introduction a short email blurb with suggested language and a link to your online profile, so they can easily forward it along. DON'T present a series of bullet points. Tell a story instead. Barnett advises all pitches follow this general format: “There is a huge opportunity to do X as a giant business. We’ve cracked the code, and this is how my company is doing it and will dominate this market. Here’s who myself and my team are, and why we’re the only people to back in this space. It’s working, and now we need money for X and Y to grow.” Reid Hoffman, LinkedIn co-founder and venture capitalist DO research the investors you're pitching. What businesses have they backed in the past? If you know what they’re interested in, you can tailor your presentation to give them the info they want. DO remember it’s more important for the right people to say yes than for everyone to say yes. Investors can offer more than just money — they can be valuable advisors too. So pay attention to potential investors who are asking interesting questions and are excited about your product, market, and the problem you’re trying to solve. DO show, don’t tell. Instead of saying you understand your customers needs, provide quotes from credible customers. Avoid superfluous adjectives and adverbs like “very.” Hoffman says these words act like a poker tell, signifying points you’re most nervous or unsure about, and that he's more likely to ask probing questions about those key points. So be specific and straightforward. DON’T shy away from areas that are problematic or risky to your business. Just because you don’t address them, doesn’t mean investors won’t see them. And by showing you've already identified and understand potential concerns, you’re building confidence instead of instilling doubt. DON'T end with a generic "Q&A" slide. End with your most important slide, something that you want on screen while you’re answering questions that will linger in investors minds long after the meeting’s over. David Rose, serial entrepreneur & angel investor DO keep it short. Angel pitches should be 15 mins; VC meetings less than half an hour. DO show your integrity, passion, and conviction to succeed no matter what. Investors are backing YOU first and foremost. DO prepare a handout with more detailed information on your business. Just remember: your presentation is not your handout. Your handout should stand alone without you, and give investors the chance to deep dive into what you’ve presented. DON’T read your speech or stare at the screen. You’re trying to connect with investors, not your PowerPoint slides. So make eye contact, pay attention to your body language, and follow good presentation practices. Are you ready for your pitch? Follow these tips to ace your pitch and impress investors. And remember, VCs and angels aren't the only source of startup funding. Check out this infographic for 5 other ways to raise money for your business. Sources: Ted.com, ReidHoffman.org, Forbes.com, Business News Daily, This American Life
18 Top Networking Sites for Startup Founders (Infographic)
If you're founding a startup, networking isn’t optional. It’s your lifeline. Entrepreneurs need support from all sorts of people — partners, investors, customers and employees — but most importantly, they need to tap into great communities to make those connections in the first place. We found 18 thriving networking sites especially for entrepreneurs to help you find advice, capital, co-founders, or just have some fun! Find the best sites for you in our latest infographic: Share this infographic on your site with this embed code: Wrike Project Management Software Read Next: • The Ultimate List of Legal Resources for Startups • 7 Ways to Fund Your Startup (Infographic) • Top 10 Reasons Startups Fail (Infographic)
Wrike at Integrated Live UK: Helping Marketers Navigate New Trends
Over the course of two days, the Integrated Live conference in the UK brought together 120+ speakers hosting a large number of workshops and seminars, all aimed at helping marketers better navigate the quickly shifting world of marketing, technology, and marketing trends. And Wrike was there, helping spread the word about our project management software.
Lessons on Success from the 2016 Olympics (Work Management Roundup)
Welcome back to the weekly Work Management Roundup. This week, we focus on success. With the Olympics starting in just a week and the impact of that powerful speech made by our stunning First Lady, Michelle Obama, we thought it appropriate to cultivate the top tips and news surrounding success and achievement.
Wrike 2015 Year in Review — What We've Been Up to All Year
2015 has been a Wriketastic year! We've grown by leaps and bounds the last 365 days — we hope you've enjoyed the adventure with us. From new feature releases to help you improve the way you work, to an even bigger and better team, to traveling the globe to speak at conferences, we've had a lot of fun. Review our recap of the year to see how you can use our latest features to set yourself up for success in 2016! We've also included a list of our most popular business advice blog posts, in case you missed them the first time around or you want to read them again. Wrike in the News This year we've been honored and excited to read all the interviews on leadership and startup advice with our CEO and founder, Andrew Filev, as well as the articles discussing our biggest Wrike news. If you want to learn see how Wrike has been shaking up the tech and business world, check out these reads: Wrike Ranked Number 116th Fastest Growing Company in North America on Deloitte’s 2015 Technology Fast 500™ Wrike Named in Best Places to Work 2015: Smallest Companies What Entrepreneurs Can Learn From Steve Jobs About Silicon Valley Andrew Filev – Taking Small Steps to Smash Big Boundaries Email won’t be used in 10 years, says Wrike CEO Andrew Filev (video) Top 3 tips for productivity in your home office Digital natives: creating and maintaining a work/life balance at home Wrike Launches New Real-Time Reports, other Enhancements Take Back Mondays: Cut Out Status Meetings with Wrike's Real-Time Reports Wrike mobile apps: on-the-go project management Wrike New Releases & Features We challenge our teams to work faster and smarter quarter after quarter. This year, we've made a lot of great updates to Wrike online and in our mobile apps. See if you missed any of our big news by reviewing our long list of major updates here, or checking out this shortlist of some of our favorite releases: Projects & Reports: Real-time reports give executives the on-demand visibility they need with one button, and save your team tons of time preparing weekly updates. Make 2016 your most efficient year yet. Custom Workflows: Teams can structure work so it moves faster — create workflows for approval processes, bug tracking, development, etc. Make 2016 a year where everyone knows where things stand. Mobile Inbox: Our free mobile apps have changed the way you Wrike, and we'll continue enhancing our apps to help you and your team even more. Make 2016 a year of mobile accessibility. Wrike Project Templates for Salesforce: Wrike project templates in your Salesforce account smoothens collaboration between your sales org and cross-functional teams. Make 2016 a year for better org-wide collaboration. OneDrive Integration: We've had Google Drive, Dropbox, and Box integrations for a while. Now attach your OneDrive files just as easily. Make 2016 a year for sharing more. Starring Favorite Folders: Keep your most-used folders and projects right at the top of your workspace. Make 2016 a year with less hunting and more doing. New Folder Colors: We went from 5 color choices to 52 in one fell swoop. Go big or go home! Now make 2016 a year full of color. New Workspace Party Themes: Spice up your work life with a little color in your Wrike! Start off 2016 with a new look: Legendary Leopard or Retro Safari. Resource Pages: We created 7 resources pages full of eBooks, videos, and articles to help you better your business. Make 2016 YOUR year. Best Business Advice from the Year We write a lot. Every single day we publish a new blog post to give you advice on project management, leadership, productivity, and more. Here's a list of top picks from the Wrike blog over the past year, according to our own unbridled favoritism and also your likes and shares on social media: Project Management 10 Essential Elements for the Perfect Project Plan (Infographic) 10 Steps to a Kickass Project Kickoff: A Checklist for Project Managers 7 Keys to Project Stakeholder Management from the #PMChat Community How to Handle a Project Management Crisis (Infographic) 10 Reasons the Death Star Project Failed (Infographic) Productivity 20 Lessons from David Allen on Succeeding at Work, Life, and GTD (Video) The High Cost of Multitasking: 40% of Productivity Lost by Task Switching 50 Productivity Tips to Boost Your Brainpower (Infographic) Amazing Online Productivity Resources for Procrastinators Leadership & Management Company Culture: Why it Matters and How to Get it Right Ultimate Guide to Team Building Activities That Don’t Suck A Manager’s Guide to Working with Difficult Team Members (Infographic) 7 Techniques for More Effective Brainstorming Startup Advice 30 Startup Founders Share Their Entrepreneurship Advice Startup Launch Checklist: 22 Steps to Success (Infographic) 6 Fatal Mistakes of Startup Founders Marketing Welcome to DroneCo — Wrike’s Weekly Marketing Comic + Advice 10 Marketing Mistakes to Avoid At All Costs 25 Top Tools for Maximizing Marketing Team Productivity Free eBook Downloads 2015 Work Management Report (Free Download) The Beginner's Guide to Online Marketing (Free Download) The Definitive Guide to Building a World-Class Internal Creative Agency (Free Download) Collaboration Software for Marketing Teams: A Buyer’s Guide (Free Download) ...and More How to Prioritize Your To-Dos When Everything’s Important (Video) How to Create Your Perfect Remote Work Environment (Infographic) Why Email is Addictive and How to Break the Habit The Ultimate Guide to the Perfect Meeting See you in 2016! Did we leave one of your favorite Wrike blog posts off our list? Add it in the comments, or let us know which of the above was your #1!
10 Hot Industries for Tech Startups in 2015
The new year often brings fresh beginnings, career resolutions, renewed focus — and new business ventures. If you've been dreaming of becoming an entrepreneur, perhaps this is the year you've finally resolved to launch your own company. If so, be sure to take a look at these 10 industries where business is booming. 1. Internet of Things Thermostats that learn your daily habits. Wifi security cameras you control with your cell phone. Doorbells that recognize your face. The Internet of Things includes all consumer devices that connect to networks, and Gartner estimates there will be 26 billion units installed by 2020. By that time, IoT product and supplier revenue will top $300 billion. And between 2013 - 2022, the industry is projected to generate $14.4 trillion net profit globally. 2. Education Technology EdTech workers design and produce online classes, tutorials, help centers, and training programs for all levels of education, from pre-K to higher ed. In 2013, e-Learning was a $56.2 billion industry, and it will double that in 2015. The industry as a whole boasts a 4.4% annual growth rate, and cloud-based learning solutions are especially popular with a 9% growth rate. 3. Mobile Apps From addictive games and social networks to business and productivity tools, the mobile apps industry is showing no signs of slowing its upward trend. The number of downloads from the Apple App store alone has reached $85 billion, and global spending is projected to hit $35 billion in 2015. 4. Wearable Tech Smartwatches. Google Glass. Fitness trackers. Wearable technology is designed to monitor everything from our sleep cycles to our daily appointments, and the trend is spreading fast. The global wearable technology market is expected to grow a whopping 40.8% annually, becoming a $5.8 billion industry by 2018. 5. Business Apps The proliferation of mobile devices means three things: more people are working on the go, more companies are adopting "Bring Your Own Device” policies, and more organizations are embracing remote workers. All of this has led to the rise of cloud-based SaaS companies offering business apps that help teams work together from anywhere, on any device. Gartner predicts Enterprise software spending will grow 7.3% in 2015 to reach $344 billion. 6. Mobile Health Mobile Health (mHealth) involves using mobile devices and networks to support medical care in both developed and developing countries. The demand for affordable and accessible healthcare continues to grow, and more and more healthcare professionals are carrying smartphones in their pockets. As a result, the mobile health market is expected to increase from $14.5 billion in 2015 to $58.8 billion in 2020. 7. Automated Guided Vehicles Think robot forklifts. These machines automate warehousing logistics, like retrieving products to fulfill orders and preparing shipments to be loaded onto delivery vehicles. AGVs are spreading through numerous big industries, like pharmaceuticals, chemicals, food, automotive, and warehousing — essentially, any business that requires transportation of materials. 8. Digital Detectives Ever dropped your phone in the toilet? Or lost your laptop? So much data gets lost, corrupted, or stolen (just ask Sony, Target, and eBay). Digital detectives work to recover that data, or protect it from being illegally accessed. Companies that can assist investigations into phishing and bank fraud schemes or other criminal cases will be in high demand, as will the ability to recover sensitive data from jeopardized devices and networks. 9. Big Data Analytics Although big data has been a buzzword since 2010, most companies are still pretty overwhelmed by it. Tools that can help distill big data to better understand customers and inform business strategies will continue to be in high demand in the coming years. With the emerging Internet of Things, a corresponding "Analytics of Things" market will also grow, and the big data and analytics market is projected to reach $125 billion worldwide in 2015. 10. Mobile Payments It's been a long time since smartphones were primarily used to make calls. Mobile devices have become multi-tools, infiltrating nearly every aspect of our business and personal lives. The next stage of that is the convenience of digital payments. Mobile payments are projected to grow 60% worldwide through 2015, reaching 47 billion transactions. What do you think 2015 will bring for entrepreneurs? Give us your take in the comments section. 10 Hottest Industries for Tech Startups in 2015 from Wrike Related Reads: 7 Ways to Fund Your Startup Top 10 Reasons Startups Fail Sources: Cio.com.au, Docebo.com, ElearningIndustry.com, Forbes.com, Gartner.com, GlobeNewsWire.com, Inc.com, Mashable.com, PostScapes.com, Statista.com