Humanist, family man, seeker and learner. 3X Founder (2 exits): Cogsy, Conversio & WooCommerce. I wrote and published Life Profitability. Ex-Rockstar.

Entrepreneurship
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The Sky is the Limit

I've been doing a lot of thinking about my personal ambitions on how so many revolves around being an entrepreneur and being involved in business(es). In my attempts of figuring out why entrepreneurship is such an integral part of who I am, I realized that there's one aspect of being an entrepreneur that greatly appeals to me: the sky is the limit.

I believe that in business (and as an entrepreneur) that everything is possible that we're only driven by our own passion, ideas, hard work & ambition. Stumbling blocks or supposed limitations are only challenges that entrepreneurs need to face (and find creative solutions for) along the way.

This appeals to me, because I'm a naturally ambitious person who doesn't like to be put in a box. I simply love the fact that I'm able to have this never-ending journey from project to project, business to business. The sky is the limit.

customers
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The Value of Customer Testimonials

Everyone knows that word-of-mouth marketing represents a significant competitive & business value. Such is this value that word-of-mouth & viral marketing has almost become an exact science in recent years.

Customer testimonials forms a big part of such a marketing strategy and this evidenced by almost every online product / service's homepage where you'll see a fair share of customer testimonials.

So when I read a recent case study & testimonial from a WooThemes customers, it just this home to me again: you really can't buy anything else that represents similar marketing value.

That case study just communicates so many great things about WooThemes: passion & love for the product(s), the flexibility of the product(s), the maturity of the product(s) (which allows the customer to use it for a big, commercial project) etc. Not even the best marketer in the world could conceptualize a campaign that communicates those values as efficiently & authentically as that customer testimonial.

So how are you enabling and empowering your customers to write a similar testimonial about your company and products / services?

Entrepreneurship
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The Problem with Ideas

I think most would agree that ideas are just a multiplier of execution, and that just having an idea for a new startup isn't sufficient to actually get started or be successful. Neither does it make you an entrepreneur.

I have however recently come across quite a prevalent problem with this: if you're the non-technical ideas / business guy within the startup realm, you are most probably struggling to get your projects out there due to your lack of technical skills (and thus your ability to actually build anything).

So sure, there are a couple of ways around this:

  • Find a technical co-founder. Even if you manage to figure out the question of equity distribution, quality technical co-founders seem to be few & far between.
  • Outsource the work to a top-notch developer. This is expensive, because quality development talent is in high demand, which means you will have to put a considerable amount of cash into a startup just to get it to Alpha or Beta.
  • Outsource the work to any other developer that you can afford. There's probably a reason you can afford these: they either don't have the skills / experience, have a bad reputation or are likely to drop you before ever getting close to Alpha or Beta.
This is probably one of the biggest reasons that I failed in setting up a side-project beyond WooThemes. And this exact challenges have come up in so many conversations that I've had with talented individuals that have great ideas for startups.

How do you get around this?

customer service
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Straining Your Own Support

Part of our massive overhaul of the WooThemes Dashboard last month, was to improve our support structures. Our aim is to deliver customer happiness & we felt that beyond the obvious willingness to do so, our structures needed to be better.

So we improved a major flaw in our old system: our notifications. We now send out a bunch of notifications to our users for different interactions within the WooThemes Dashboard and the one that is being used the most is the notification that a WooTeam Support Member has responded to a support ticket.

Perfect, right? Not quite.

We didn't realize this before, but by adding proper notifications to our system we essentially increased the velocity of our support. Greatly. So what happens now, is that as soon as an user is notified that there's been a response on their ticket, they come back to check on it and then in most cases posts a follow-up response. This means that users are not necessarily creating more tickets, but they're posting to existing tickets much faster, which in turn means that the number of unresolved tickets are growing significantly.

No good deed goes unpunished they say... By adding something to improve customer support, we've strained our own support structure & capacity. End-result... We're hiring. Again. :)

business models
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The WordPress Ecosystem

I gave this talk at last week's WordCamp Cape Town and thought that I'd post some of the details here (a video of my talk should be up soon).

As an introduction to my talk... I've been making money with WordPress for many years now and WooThemes is almost 4 years old with 45k paying customers. And lately I've been thinking a lot about how WordPress mimics other industries worldwide and how it has thus become ripe for the picking for entrepreneurs

Here's some of the highlights from my talk:

  • Slides 6 - 18: I believe that WordPress as a community, should instead be seen as an ecosystem with its own economic principles applied. And within this ecosystem we currently have many money-making opportunities (custom services, themes, plugins etc.)
  • Slide 15: I think we're going to see more hosted, SaaS-like apps appearing for WordPress in the very near future. See my previous post - WordPress + SaaS - for elaboration on this.
  • Slide 19: There are so many opportunities left for entrepreneurs to fill the gaps and monetize their proposed solutions. Considering that the latest stats reveal that WordPress powers something like 15% of the whole web, there are millions of users out there looking for specific solutions.
  • Slide 20 - 22: I also see an alternative view to this WordPress ecosystem. There are multiple companies that have built loyal customer bases comprising of thousands of users, which in their own right becomes a niche market. Take WooThemes as an example: we've got 45k-odd customers, which is a pretty considerable niche opportunity. Could you develop something that specifically targets these 45k WordPress & WooThemes users? I think there's a bunch of very attractive opportunities out there for this.