Could this be used to further analyse websites? Instead of just the usual eye heat map, and optimising for that would it be better to optimise for each page based on the content on that page?
Not to be overly harsh, but the site doesn't really give the impression of credibility. It doesn't help that there's no verifiable background information (human names, bios, etc.) for any of the authors.
I'm pretty familiar with the VC world (having raised money, and from the angel/micro-vc side due to having friends in funds, and considered doing a fund myself), and I feel comfortable evaluating the book based on the content, but your actual readers won't -- they'll figure out if you're trustworthy and credible based on presentation, references, and overall plausibility. If you have a background in VC (associate? you seem to be Australian, so that doesn't seem as likely), or have raised VC multiple times, that would be good to disclose.
The actual content is ok. Not as good as the Venture Hacks book or other "standard" startup resources for the general advice -- much of which is available free online, and from highly credible primary sources (i.e. VCs who blog, successful entrepreneurs, etc.). The level of content is maybe a good blog post or two (if you tighten it up, and use examples -- you could maybe do 5), but it's not a $2 e-book.
The "financial modeling for startups" content seems a lot stronger -- if you included editable google docs and/or excel templates, combined with resources on how to do both bottom up and top down analysis (and USE THE STANDARD TERMS OF ART), it could be useful. Maybe that could be a $2 package, if you really want to sell something.
The point of the ebook was to try and present the perspective of VCs very simply and to the point through some research. This was done through a checklist type deal, where the content was free (and an option to pay) - as I say in another reply this is so I can try to understand this type of business.
I am from an Accounting background just btw.
Thank you very much for your feedback - its all part of the learning process. I have made changes and will definitely try to incorporate this in the future.
From an accounting background instead of a VC or entrepreneur background, it's probably worth emphasizing that and focusing the content that way.
There is a lot of "how to do accounting at startups" content which is lacking on the Internet -- maybe something as basic as "how to spend your own money pre-raising funding so you can get reimbursed", and then the basics of accounting for a team of 2-5 with minimal (<500k) seed investment and early revenue.
Just teaching people the difference between cashflow and P&L would be a worthwhile lesson.
If I were you, I'd probably develop a sizable (20-30+) number of standalone free 1-5 page resources on various topics, then offer a service instead of a product (15 minute consultations, phone/skype).
I am not sure how different the accounting rules are in the US vs. Australia vs. elsewhere -- aside from tax, for early stage companies, they're probably fairly universal. I do think helping people set up something like Xero would be useful, since Quickbooks is rather mediocre, and NetSuite is overkill (and the single-entry systems like Freshbooks aren't really worth considering).
In general, sell expertise, give away anything else.
"
This is not your run of the mill E-book – this is content that puts you in the mind of the VCs, allowing you to:
Dominate Pitches
Understand their perspective
Speech their language
Get into incumbators
"
(all spelling mistakes left as-it)
In addition, you are very strongly encouraging people to pay for it and making them feel guilty if they don't.
This is what I got:
a 2.5-page PDF document that contains a really basic check-list of what investors are looking for in a startup - the sort of thing you'll find on a countless number of blog posts about raising funding.
No I'm trying to understand how small businesses work. I seriously have no idea - so I am starting at the beginning by covering their content while also trying to sell what I research.
The ebook was always free - now it is very clear that it is.
So what you're saying is that you haven't got any experience and haven't got the faintest clue in what you're talking about (VC funding), but you're still giving advice to people and were trying to sell an "e-book" about it?
Of course, I know that some people are making a very good living by doing just this - writing about stuff they know nothing about. But this isn't going to earn you any favours here.
You said in another comment that you're an accountant. Are you a good accountant and do you like accounting? If yes, there's plenty to do on that front. Accounting is something that most people hate and see as being horribly complex. Yet, it's something that all entrepreneur have to do very early on in their business - they just don't have a choice. What about you write about this instead? I'm pretty sure you could end up with something a lot more useful than this "e-book".
Another tip: don't lie. Don't tell me that I'm going to get a book and then give me a 2.5-page check-list that has less content than an average blog post. Don't tell me that I'm going to "dominate pitches" or "speak their language" and give me a copied-and-pasted list that anybody interested in raising VC funding would have read a hundred times already.
A check-list is a check-list. A blog post is blog post. A book is a book. It's that simple. Pretending otherwise will only get you angry customers.
MehdiEG - thanks for all the comments; its all part of the learning experience! I also checked out your business and downloaded your software. Good luck with that.
I will definitely take this all in account and stick to what I know. At the moment I'm just starting out so everything is new to me - but at least now I know that what I am writing is not a) at the quality or b) the quantity enough that people will want. I was going under the impression that you sell what the market can bear - and if you do that wrong, you change your strategy; but you keep trucking along.
Just lastly - I did not think I was lying; I didn't assume anything, and all I thought was that this was going to get lost with the rest of HN posts.
Your page doesn't provide much from your book, then tells me to either pay up or feel guilty. Can we maybe get a preview of the first 5 pages without being made to feel like bad people?
Nitpick:
Speech their language should be Speak their language
Get into incumbators should be Get into incubators
I definitely think an "about-us" page is the most important part of the website - it introduces the who, the why and allows us to get the voice of the people running the site.
One direction I could see Facebook going is becoming a proxy for real life. While it already contains all social transactions, evolving that idea into a platform for purchases that is simpler to use than Amazon or Ebay (and the respective company websites) means that they have a ready made audience, with social information to target specific purchases rather than just advertisements.
Basically you want to take an established business model and put it online. My first thoughts would be that possibly Buffalo Exchange has a very strong cultural presence which on which its Value Proposition lies, but I am going to try going through your model step by step. My second thought that this business model already exists for women in the form of 99dresses - so maybe have a look at what they do for some more ideas.
I'll go quickly through each blocks of the business model (businessmodelgeneration.com) and try and see whether your business is able to pass each value test. Sorry if it is not thorough, but try using this framework to evaluate businesses. These ideas are from my draft book Theoretical Entrepreneurship (madintelligence.com).
Business Model;
Partner Network: You are going to need partners in the form of consignment (purchase) and fulfilment.
Key Activities: Marketing, Keeping abrest of key trends, fulfilment and storage, relationships with consumers, value setting (how much they buy goods for)
Revenue: Either subsription based, for per unit based.
Customer Relationships: Online. Little to no contact
Customer Segments: Mass Market "majority...are vintage which is the opposite of direction I would be going in"
Distribution Channels: Online
Value proposition: Online, easy to access designer brands for use in the future (due to delivery).
TESTS.
Value Tests:
1. How do you know the customer has those needs? We can see by competitors and hopefully some statistics that X amount of sales are done, but this is in a local area. If somebody was able to universally control a network of consigment stores and have an online presence we can make profit through economies of scale.
2. Why do you think it is valuable to the customers to solve these needs? Because of need for value, but also a conflicting need to have the best/be the best
3. How might you quantify this value? Through price, through increasing affluence, decreasing willingness to spend.
4. What is the urgency of the need? Very low. Local stores exist in most places that cover this need.
The Execution Test
1. Why do you beleive that your firm is uniquely capable of producing this new offering? Its not. I dont believe there is any special skill you need to run this. Based on the introduction - none.
2. What current capabilities are leveraged by the new offering? None known about.
3. What capabilities are missing? Past experience in fulfilment. Partnerships with fulfilment or with other consignment stores.
4. WHere will these new capabilities come from? Through relationships
5. Which value chain partners do you need to cooperate? Consumers who you buy off. Fulfilment who stocks and issues your goods.
6. Will they be interested? Consumers - possibly an easier way to sell clothes guaranteed (lowering of risk vs. ebay). Fulfilment business - more customers (higher growth).
The Scale Tests
1. Is this need specific to the particular customer, or does it exist across a customer segment? Across a customer segment, all over the world. Its is a large niche market.
2. Specific customer need recurring or is it onetime? It is recurring.
