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.
- Passed (we got press our first week of sales & was featured on TC)
- 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.
- 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”
- we are offering higher price points to our product line, should boost revenue
- planning something huge for sept, so be on lookout at the beginning we used Cory a coder from Canada, he was great
- 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
- 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.
- 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.
- 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.
- 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.