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BILL LIAO's TOP 10 START-UP FAILS TO AVOID

Back to Bill’s Top 10 Start Up Fails to Avoid, WhiteyBoard has nearly passed the test.

  1. Passed (we got press our first week of sales & was featured on TC)
  2. We had a poor team in past but improving. We just added 2 members to our team Josh & George who have been magnificent and big contributions to our team.
  3. We don’t talk to the talk, we walk the walk, however I will admit, I do have trouble listening to people other than my college professors. If you were to ask them, they would all say “saachi is an active listener”
  4. we are offering higher price points to our product line, should boost revenue
  5. planning something huge for sept, so be on lookout at the beginning we used Cory a coder from Canada, he was great
  6. at the beginning, however towards the end, he became slack because of his other obligations. Now we have a technical team in Japan, who get the job done! we wouldn’t be progressing without them
  7. design we are getting better at. Hired a designer a few months ago, her name is Randi, she is the real deal. VERY EXPENSIVE, but worth it! she re-did our logo, and i love it.
  8. im attached to our IDEA, however running a start up is very discouraging especially for recent grad. I do believe we can turn this company into a big, lean stationary machine over time. small steps. We have taken a few pivots, however nothing to big relative to other tech start ups.
  9. working at home until june, focus was a big issue for me. so many distractions. however just rented a 3500 square foot warehouse and brought fulfillment back in house. we are very focused. we love cash and HATE THE ACCRUAL PRINCIPLE.
  10. whiteyboard has pretty good economics, customers pay cash up front and receive products later. Its DEFERRED REVENUE or a CURRENT LIABILITY, until the goods are shipped. This is a good characteristic.

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