business

Elon Musk At #StartupTips

Tesla All wheel drive

When Technology meets Design meets Business

Why should you watch this 20 minutes video?

It’s a short interview with a great entrepreneur. Elon Musk is part of the PayPal Mafia, but that is another story, that will touch on in the future. He started to be famous as the co-founder of PayPal and served as the company’s CEO. After they were sold to eBay, he was a bit busy, starting three amazing companies that are inventing and disrupting their industries – big time. Continue reading

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business, cloud

Technology #StartupTips

Views on sun raise How to pick the right (technology) tool for the job?
There are a lot of options out there. First, you need to decide where your servers will run: Google cloud platform, Amazon web services, and many others platforms that give you the ability to ‘run and scale’. Next, you need to think on the distribution platforms you wish cover and to prioritize them: Web, Android, iOS etc’.
Soon after these stages, you will hit the important questions, on your strategy. Is it going to be ‘mobile first’ or ‘mobile only’? How will you promote the product? Which channels? How to measure and tune them?

In this post, I will try to cover the tip of this iceberg. Specifically, what are some of the consideration you wish to be aware of when making the critical decisions that address your technology stack. Continue reading

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webdev

A/B Testing With Google Analytics

rakafor-2Once you have a better picture on the current state. It’s time to try and improve it. A good way to do it is by using the option to serve different pages to unique visitors and measure the differences.

Following our e-Commerce site example, there are few options to test:

  • Create few versions of your ‘buy’ page.
  • Change modules on a certain page.
  • Change the landing pages.
  • Change the funnel: number of pages, modules, steps etc’.

Tips

Few guidelines to gain more reliable results:

  • Test a few elements at a time – If you change multiple elements on each page, it can be difficult to figure out which element or combination of elements was responsible for the best results. For example, create multiple pages but change only the main image on each page, and keep the same layout and text to ensure that any difference between the page results is due to the image.
  • Use high-volume pages – The more often that people see a page or complete a goal, the less time it takes to gather data.
  • Make bold changes – Users can miss small changes and you can end up with inconclusive results.
  • Keep testing – With follow-up testing, you can build on the success of your experiment. Did one headline encourage a lot more purchases? If so, test it alongside a product image or an image of a spokesperson.

Continue reading

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webdev

Measure Goals with Google Analytics

Lake in the north

In the last post “How To Use Goals and Conversions In Google Analytics” we saw what are the first steps to define a goal. Let’s go deeper and see how to customize it step by step.

The default dashboard

This is the dashboard you will see when you open Google Analytics. It’s giving you the most basic pieces of information. As this is just the starting point, we should customize it and improve it to show us the metrics that we care about. In our case, we will see how to add our ‘Goals’ dashboard. When it comes to monetization, we can translate our goal to monetary value and get in the dashboard the amount of money we were able to generate. In the photo below you can see the default dashboard you are getting in Google Analytics. Continue reading

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webdev

How To Use Goals and Conversions In Google Analytics

Data and the light

“In the past, one could get by on intuition and experience. Times have changed. Today the name of the game is data.”- Steven D. Levitt

In todays world, we must measure and analyze our data in order to continue and improve our performances. In this article, we will show how to leverage Google Analytics in order to improve monetization.

TL;DR

  • Conversion Rate is the percentage of prospective users who took a specific action you want.
  • Usability, messaging and performance are key factors that influence our conversions.
  • Use Google Analytic in order to gain important views.

Goals and Conversions

What is conversion rate?

Conversion Rate is the percentage of prospective users who took a specific action you want. It might be time spend on a page, registration to an event or completing a transaction. You can also give a Goal a monetary value (e.g. in an e-commerce site), so you can see how much that conversion is worth to your business. Continue reading

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business

How To Start? #StartupTips

snow and sunWhat valuable start-up is there that no one is building at the moment?

This question is harder than it looks, because your new company could create a lot of value without capturing some of it. As a founder, you need to have expertise in few areas or find co-founders that will cover them. The tricky part is to find co-founders you really enjoy working with.

Why? Because start-ups are really hard. At the beginning, it seems like a great idea that will be good fun to execute against, but very soon you discover (a lot of) holes that are challenges. If you aren’t enjoying your partners to the road, it’s going to be very hard to work well at those crucial moments. At the beginning, like in relationships, everything is flowing and there are no arguments. But very quickly, in the rapid pace of the start-ups world, you will find conflicts. Make sure you can have a great communication channel with your partners, and you are able to move quickly in those cases that you don’t see eye to eye.

Minimum Viable Product

After we have our co-founders and we are set on the idea, we are likely to move forward and to shape it. The first thing is the Minimum Viable Product: It is that product which has just those features and no more that allows you to ship a product that early adopters see and, at least some of whom resonate with, pay you money for, and start to give you feedback on. It should be in the highest quality you can reach. So good, that you will be able to capture your users into it, with the value it’s offering to them. It’s important to put it out there as fast as you can and start collecting feedback from real users.

How to test the water

Continue reading

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business

How To Raise Money #StartupTips

Campus TLV

During my volunteering work at Campus TLV, I work with startups on entrepreneurship skills and technology. One of the popular topics is the subject of this post: “How to raise money”. It’s a challenging topic on many levels. You wish to raise enough money but not too much. Why? because at this point of the startup’s life you are giving a slice of your company (=equity) to the investors and you don’t want to sell too much or too low. Here are few guidelines:

  • In order to raise money for your dream you need to convince investors that you are the ‘champion’ of this domain. If you are currently not the ‘best’ in the world – think how you become part of the top 1% of people in the world that do X (when X is your product/service). Savvy investors knows that it depends on the team (=you) and its ability to execute against their ideas.

Continue reading

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