SportsLizard Entrepreneur Blog

Saturday, August 26, 2006

Startup Success 2006

I found this video on Guy Kawasaki's blog and it is absolutely priceless.

One thing that really stuck out in my mind - at one point Guy opens the forum up for questions from the audience and someone asks how each entrepreneur is going about marketing their product. The panel, which was comprised of five entrepreneurs including the founders of LinkedIn and photobucket, gave what I thought was an extremely promising answer for YE's like myself. Each entrepreneur said that their company has grown through some combination of SEO, PR (through the media, blogging, and social networks), and viral marketing.

Do you know what that list doesn't include? PPC advertising, television commercials, magazine advertisements, or ANY paid advertising. It seems like most new startups learned from the dot com Super Bowl commercials and learned more effective techniques.

It also seems to me that you don't need hardly any money at all to grow your business. That means that as a YE, you and I and everyone else can market our companies effectively with a telephone, a computer, an email account, some word processing software, and some business cards. You don't need to spend a ton of money to promote your business.

Which would you rather have - a full page ad in a magazine or a full page story about your business? For obvious reasons everyone would rather have the full page story. The funny thing is, the story costs $0 and the ad costs thousands. It may take a lot of blood, sweat, and tears, but you and I can grow our businesses WITHOUT a lot of money.


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