Launch Chat

Today’s question comes from Joel. What is the most commonly believed startup strategy that will no longer be used in 5-10 years?

Today’s question comes from Lucas. I hired someone to build a website and app. We met a few times and I’ve seen the progress and a working app. The app was near completion but he eventually stopped communicating with me. What should I do?

Today’s question comes from Christof. I’m working on a prototype to validate with users. Should I focus on getting feedback or monetary commitment? This is a SaaS product and it’s not built yet - how could I go about getting monetary commitment?

Today’s question comes from Mike. Lots of famous startups have been founded during recessions. In times of economic downturn, wouldn’t starting a company be a smart thing to do since it wouldn’t face as much competition?

Today’s question comes from Mindy. I have funding secured for an app I’m building. I haven’t validated my app yet, so I want to spend the least amount possible on an MVP. How do I determine if I should hire a development agency or a freelancer, since an agency is quite a bit more expensive?

Today’s question comes from Benjamin. We are a fintech startup and the founders all have well-paying jobs. As a founder, do you have to give up what you’ve achieved as far as pay rate or does previous pay get taken into account when raising funds?

Today’s question comes from Isaac. I just parted ways with a startup where I worked for two years. I managed a variety of responsibilities, projects, and tasks. How do I summarize all of my experience? Do I edit it for relevance when I apply for specific roles? How should I approach this?

Today’s question comes from Connor. I started learning the basics of databases and programming and now I’ve got something going. I want to hire freelancers to help me with the development of an MVP. What’s the best way to do that?

Today’s question comes from Simon. I’m running a free beta signup and my conversion rate is very low. Does this mean that if people aren’t interested in the beta, they won’t be interested in the paid product?

Today’s question comes from Carter. I’m interested in selling a product in the fitness industry. Can I validate the product idea by building a storefront and using images of the product and packaging, and then upon checkout saying it’s out of stock and request an email address for notification?

Today’s question comes from Phillip. I have an idea for a business that would match vetted freelancers with companies who submit their projects. I was thinking of starting with just a few pages where people can apply and submit and then use outside vendors for contracts, payments, and project management. Is this idea too stripped down to be viable?

Today we have something special for you. To commemorate the 100th episode of Launch Chat, Adam Clark, founder of Podcast Royale interviews Jake to learn a little more about the man behind the podcast and how he has worked through the issues that so many of you ask in your daily questions.

Today’s question comes from an anonymous listener. When I hit rough patches I tend to throw in the towel and indulge in escapism for days at a time. How can I develop a strategy to deal with hopelessness in my startup and keep going regardless?

Today’s question comes from Leonard. When is the right time to approach people and businesses who could be strategic partners or investors?

Today’s question comes from Michael. How can a company use safe notes for its pre-seed round to include non-accredited investors? Would it have to be through a crowd funding platform? How would you proceed?

Today’s question comes from Larry. We have over $2M in revenue this year with little debt. However, we have no extra cash but needed to buy product to ship to customers. Due to credit issues, I’m unable to take out a loan. What is our best option to get cash on hand immediately?

Today’s question comes from Adam. My business has been around for a few years now but we’ve failed to get much traction. We’ve tried content marketing, social media marketing, and many other tactics. What would you try next? When should you just decide to shut down?

Today’s question comes from Cynthia. I started a side business and am wondering how much I should be putting into it to get it up and running. I’m low on savings but have a steady income and have paid off a lot of my debts. How should I proceed?

Today’s question comes from Brandon. I have an idea for a real estate app but I have no tech skills, so I know I need to hire a team. How much do apps usually cost so I can start putting money aside?

Today’s question comes from Michael. I have a hardware startup that’s been quiet for a while. I was recently approached by a potential buyer but he wants to validate the software without signing an NDA. How should I approach this situation?