GrowthMinds is delighted to welcome Tim Hanson on board as we continue building our client-base. This extra pair of hands means we can keep pushing our clients’ businesses above and beyond and add more support to our team.
Many hands make light work – especially with highly creative people like Tim around. We want you to get know him as we do, so that everyone understands who he is and what he’ll be responsible for.
We sat down for a catch up with Tim and recorded a Q&A for you all to learn a little about our newest team member! Enjoy…
Financial management for startups is, without a shadow of a doubt, the key to any startup’s success. There’s going to be myriad of things to manage and keep track of and it can become quite overwhelming without a solid plan in place.
You’ve got the idea, developed a business plan and jumped into building your very own business from the ground up.
But there can be several pitfalls that new business owners fall into when it comes to the financial structure and maintenance of the startup.
To push past short-term survival and into a thriving, profitable company, what steps do you need to take to be prosperous?
Lauren Kelly, the director of Zen Accounting, helps small businesses achieve their growth potential on a daily basis. Here she gives us her top six pieces of advice about financial management for startups, to get young businesses off the ground and into its own financial rhythm.
Unless you’ve had your head buried under a rock, you probably know Facebook has changed its News Feed to favour updates from family and friends over public content.
For the outlets that rely on Facebook traffic to boost their bottom lines, the Facebook News Feed changes will no doubt be painful. But fear not – Ed Jennings, the head of social at GrowthMinds, argues that businesses can still be successful on Facebook by producing better and more engaging content.
The update will prioritise posts that spark conversations and meaningful interactions by showing these posts higher on the feed. Posts that inspire back-and-forth discussion in the comments and posts that you might want to share and react to will be bumped up.
Researchers from Facebook acknowledged that too much time spent passively scrolling in the Facebook News Feed can be detrimental, and 11 days into 2018, Facebook announced the first round of changes – and then closed January with a renewed focus on engaging interactions.
The changes haven’t come without an impact on the platform’s numbers though.
Founder and chief executive of Facebook, Mark Zuckerberg, said recently: “In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day.”
And while billionaire Zuckerberg celebrates a decrease in the amount of time users are spending on his platform, where does that leave the start-ups and small businesses that want to grow their company seeds into blossoming plants?
It’s going to take a change in approach…
You’ve decided you want to take the plunge and form your own business – but you don’t have any solid startup ideas yet. How do move forward with your desire to become an entrepreneur and be your own boss when you’re starting from scratch?
It can seem daunting to attempt to think up a great idea for your new venture, but the clues are all around us if you know where to look.
It’s important to learn how to block out the noise and hone your focus to see the world differently.
At GrowthMinds we’ve pulled together some simple methods for startup hopefuls looking to have that lightbulb moment.
With the number of marketing platforms increasing each year, many small businesses face difficulties when allocating the right share of the marketing budget to each different strategy and assessing conversion rates.
A lot of effort is then needed to customise these channels to suit the individual business needs.
Knowing the marketing channels that give other businesses their highest conversion rate is a good starting point to benchmark your own results and thus identify areas for improvement.
Only about 22 per cent of businesses are satisfied with their conversion rates, according to Econsultancy, 2016. So this metric is obviously high on most business’ lists to determine what theirs is and then finding a way to boost it.
Measuring the success of your own business against others can be tricky territory as there are so many factors going into the metric. But it can give you a bigger picture of whether your marketing strategy is successful, or at least be heading in the right direction.
However, these comparisons should only ever be benchmarks. Aim higher and look to surpass those average numbers.
Below we look at the most popular digital marketing platforms and then at key metrics and how to make sure you score highly…
It’s time to start implementing 24-hour social media tools such as Instagram Stories and/or Snapchat into your social media strategy if you haven’t already. They have become essential tools in today’s climate with Snapchat boasting more than 170 million daily users.
Instagram hits 500 million daily users, with 300 million of those using its Snapchat-like Stories feature that was added to the app in 2016.
But why should marketers be using a tool that has no direct clickthrough or ways for small businesses to sell directly through it?
May 25 is the enforcement day for GDPR – the General Data Protection Regulation – the EU-wide privacy law approved that will forever change the way companies handle customer information. But how ready are you?
The GDPR is an attempt to strengthen, harmonise, and modernise EU data protection law and enhance individual rights and freedoms, consistent with the European understanding of privacy as a fundamental human right.
As May 25 gets closer, there are still lots of businesses out there that aren’t clear on what they need to do in readiness for the deadline. While there’s plenty of warnings and information out there about the impending GDPR there doesn’t seem to be much guidance on what this actually means for startups and scale-ups.
GrowthMinds are a growth agency based in London who use growth marketing techniques to build our clients’ businesses. Our clients are all at scale up stage and are some of the most exciting growing businesses in their UK. At GrowthMinds we are very passionate about their growth and work tirelessly to achieve the rapid growth they are looking for.
We are looking for an ambitious and talented digital marketer to join our growing team. Our new team member will be responsible for data-driven growth hacking that yields traction for our clients, and for ensuring continual improvement of campaign returns.
We are a small team of entrepreneurs who use our experience of building businesses to help our clients fly. We’re a young business who are growing rapidly so this is a great opportunity to join us early and have a key role in our development. Our culture encourages people to experiment, to try new ways of approaching problems, and to be empowered and take decisions.
Your job title:
Client Growth Hacker
Gorilla Capital’s Sampo Parkkinen gives an investor’s-eye view of how startups and scaleups can become an unmissable opportunity
An entrepreneur needs two things to be successful. One is a solution to a problem. The other is cold hard cash.
The first shouldn’t be too difficult if the entrepreneur is an entrepreneur. They will be focused on an issue that’s causing tangible and significant loss or irritation. They’ll have a plan for how to rectify that issue and be working towards establishing a workable product or service.
The second is tougher. Unless they are already wealthy they will need to involve others to build up their cash reserves to make their solution become a reality. It takes skill to convince others that you are worth them risking their money. Your character, skills and abilities will come under scrutiny in a pressurised situation where your dream is on the line.
I’m both a serial tech entrepreneur and, through the Gorilla Capital fund I part-own, an investor. I’ve been on both sides of the Dragon’s Den studio, so to speak, and I’d like to share my thoughts on how an entrepreneur and their business can give themselves the best possible advice on how to get investment. I’ll look at all aspects of the funding round, from how you should approach investors to what you need to prove to them and how much you should be asking for.
First up, a little about myself. I sold my first startup, RapidBlue Solutions, to ShopperTrak in 2013. I actually worked for ShopperTrak in Chicago for some time after that but realised how much I craved the entrepreneur’s life. I founded my second startup, Revieve, a digital beauty advisor service, last year, and also formed the Gorilla Capital fund with my colleagues, Risto Rautakorpi and Petri Lehmuskoski.
So, that’s me. Let’s look at how to get investment for your fledgling business…
Video is the king of content and it’s no surprise that marketers are seeking ways to utilise this engaging medium to boost conversion rates and reach new audiences.
More than 80 per cent of all web traffic is projected to be video by 2019, with 64 per cent of customers being more likely to buy a product online after watching a video about it.
If you haven’t already got your hands dirty with video editing, now is definitely the time to start. Let’s make a pact that in 2018 it should be an integral part of every business marketing campaign.
Video is such an important tool to hone in this day and age that digital marketing expert James McQuivey estimates that a single minute of video content is the equivalent of 1.8 million words.