Droplet is the startup payments platform I’ve been working on with the team for nearly 3 years now. We’ve grown to over 600 merchants in five cities and we announced on Friday that we’re raising funding by selling equity in Droplet – to our users first.
We announced to our users on Friday via a mailout and we’ve already seen over 100 investors come on board, pledging nearly £20,000 in return for actual shares in Droplet.
We’ve put together a simple page which allows visitors (whether or not they’re investing in the round or not) to promote our raise on social media sites.
The /crowdcube page has been viewed over 1,000 times and generated nearly 900 social shares on Twitter, Facebook and LinkedIn so far.
It’s simple, but a really effective way of helping our supporters to help us.
The most important word in the sentence “I’m starting a tech business” is business.
- Convincing talented people to join you is sales
- Securing a business bank account is sales
- Getting third-party providers to give you services at a decent rate is sales
- Getting press and PR coverage is sales
- Convincing your team of your vision is sales
- Getting users to use your product is sales
- Getting customers to pay for your product is sales
- Securing investment from angel investors or VC funds is sales
If you’re great at tech, but not so great at sales – you need to work with someone who is.
Flappy Bird, the infuriatingly-difficult mobile game that went from obscurity to the number one free game on iOS, taking $50,000 per day in ad revenue, is no more:
I am sorry ‘Flappy Bird’ users, 22 hours from now, I will take ‘Flappy Bird’ down. I cannot take this anymore.
— Dong Nguyen (@dongatory) February 8, 2014
Its creator Dong Nguyen, tired of the relentless attention the game brought him, has removed Flappy Bird from the App Store.
I couldn’t help but feel that, if he had better advisors around him, someone would have advised that he start a company – and hire some people.
Apart from making money, what’s the purpose of a company?
It could be:
- To provide a ‘protective shell’ to operate within
- To provide tools and resources to its team
- To provide legal protection
- To provide a structure in which teams can operate effectively
All so that talented people can do their best work, without worrying about this stuff.
If Mr Dong had hired some talented people to look after marketing, PR, support, finances, ad networks, etc – he could get back to making games and trying out ideas – instead of feeling overwhelmed with the burden of doing all this stuff himself.