Feel the Boot – Details, episodes & analysis

In this episode of 'Feel the Boot,' host Lance Cottrell delves into the strategic importance of targeting a niche market for startup success. He guides early-stage founders through the crucial process of focusing on specific customer segments that resonate with their products, illustrating how this can significantly improve customer acquisition and product development. Lance shares practical strategies for selecting a target niche, such as engaging early adopters, leveraging small communities, and identifying underserved markets. This approach not only helps in establishing a strong market presence but also lays the foundation for scaling into broader markets. Tune in to gain invaluable insights into effectively narrowing your focus for better startup execution.

Blog https://ftb.bz/112B

YouTube https://ftb.bz/112V

BootPrints https://ftb.bz/join

“Are you fundable?” tool https://ftb.bz/fundable

The freemium business model is popular, but is it right for your startup? In this video, I break down how freemium works, common mistakes founders make, and why it often leads to revenue problems. We’ll also explore an alternative approach—the reverse freemium model—that could be a better fit for your business.

Ideal for early-stage founders, this video provides valuable insights and practical advice on setting up a successful freemium model, complete with real-world examples and suggestions for effective customer engagement.

Blog https://ftb.bz/111B

Video https://ftb.bz/111V

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Testing Startup Ideas and Assumptions ⚖️ John Li of PickFu Interview

In this interview, John Li, the co-founder of startup PickFu, discusses the innovative concept of his company as a digital focus group for businesses. He walks us through their transition from a physical product to a software solution after observing a growing need for unbiased design feedback. John also shares interesting customer success stories attributing to their product's efficiency. He emphasizes on the importance of regular testing in business and discusses their company's decision to employ a fully remote work model, the challenges faced, the tools used, and the benefaction of current technology to their work. Towards the end, John yields advice for aspiring entrepreneurs on testing and patience in realizing a startup's success.

Read the transcript https://ftb.bz/102B

Watch the Video https://ftb.bz/102V

Follow John on LinkedIn https://www.linkedin.com/in/johnli

Find PickFu at https://PickFu.com

PickFu.com discount code FEELTHEBOOT for 50% off your first paid test.

Guest Bio:

John Li is the co-founder of PickFu, a consumer research platform for getting instant feedback from target audiences. Thousands of global brands rely on PickFu to help them make better data-driven decisions about their products and marketing. John is passionate about building systems that help others succeed. He has degrees in computer science from UC Berkeley and the University of Washington. John and his family live in the San Francisco area, where he shuttles his kids around in his dream car (a minivan).

If you are launching a blockchain based company, I have some specific advice for you. Right now, I see many times more blockchain and Initial Coin Offering pitches than anything else. And most of them are bad. This creates additional hurdles that I want to help you navigate. The tsunami of blockchain pitches causes investors to set the bar very high. At the same time, the entrepreneurs are making a lot of unforced errors. Learn what these other founders are doing wrong and how you can deliver a pitch that will stand out and interest investors.

Video: https://youtu.be/jOAcvAyttJY
Blog: https://feeltheboot.com/blog/blockchain-pitching-mistakes

Your business is your baby. You don’t want anyone to take it. But holding on too tight could smother it. Understanding the dynamics of power and control in a startup will allow you to grow and succeed. 51% ownership is less important than you might think and the contortions required to hold that number can scare off the investors you need.

Video: https://bit.ly/51percent-video
Blog: https://bit.ly/51percent-blog

Founders and entrepreneurs need to understand the inner workings of stock options. Otherwise they can waste equity, disappoint key employees, and dilute their ownership. In this episode I cover: Why you should issue options How to create an option plan Setting up the initial option pool Negotiating changes to the option pool How many options to grant an employee How to vest options

Video: http://bit.ly/stock-options-explained-video
Blog: http://bit.ly/stock-options-blog

https://tools.ltse.com/sizing-the-option-pool-whats-normal-95e0f2bc0b88
https://gust.com/launch/blog/how-much-equity-should-you-offer-your-startup-team-members
https://firstround.com/review/The-Right-Way-to-Grant-Equity-to-Your-Employees/

Many times, when giving out stock options, I found that the recipient did not understand them. Options are one of the most important employee motivators and a big part of their compensation, and confusion substantially reduces their effectiveness. This episode is devoted to educating employee about the options they receive and helping founders explain them to their teams.

Video: http://bit.ly/options-explained-video
Blog: http://bit.ly/options-explained-blog

Founders are confused about all the different terms used for funding, and what they all mean. Are they ready for a seed round and what does it take to get an A round? Learn what each kind of investment round means, what to expect, and what investors will expect from the business. Making the right ask to the right people at the right time is one of the keys to startup fundraising.

Video: https://bit.ly/investment-rounds-explained-video
Blog: https://bit.ly/investment-rounds-explained

Media and popular culture focuses excess attention on flashy “big ideas”, but it is excellent “execution” that separates the massive successes from the failures. Too many founders focus on finding that perfect idea, rather than making a great business out of a good idea. Investors need to know how you are going to grow. Focus on the things that you are going to do more than on the big picture.

Video: http://bit.ly/execution-over-ideas-video
Blog: http://bit.ly/execution-over-ideas

Trying and failing to raise funds for your startup business? In this episode I answer a viewer question asking for suggestions. Learn what it takes to get funding from early stage investors.

Video: http://bit.ly/finding-investors-vid
Blog: http://bit.ly/finding-investors
Links mentioned in the podcast:
The Angel Capital Association https://www.angelcapitalassociation.org
Blog on Why Angel Investors need high returns https://www.feeltheboot.com/blog/greedy-angel-investors
Two lists of Community Development Financial Institutions https://fitsmallbusiness.com/community-development-financial-institutions-cdfi-list/ https://about.bankofamerica.com/en-us/partnering-locally/cdfi-list.html
My previous video on how to build a presentation: https://www.feeltheboot.com/blog/2019/4/1/bad-presentations-can-scuttle-your-startup-make-yours-soar