Building And Managing a Web Agency — YouTube Live With Chris LaFay So Chris LaFay and I connected on LinkedIn after interacting there for several months. We literally bumped into each other while texting on LinkedIn as our messages arrived within the same second. So, for our first chat, we picked the video format, and discussing our background in starting, building, and running agencies, along with the corresponding challenges. Seems like our backgrounds are quite similar -- we both started hacking around 1997-1999 and kept coding for a continuous period of time, switching to freelance and scaling from there. Over the call, we've discussed delegation, company culture, leaderships, scaling processes, hiring people, and a bunch of other intriguing topics for people eager to start a web agency or transition from freelance to business ownership. We touched on the migration from an engineer to a business owner, too. Both of us still code, but sometimes it's just a couple hours a week while occasionally it's almost full-time. It all depends on the current business priorities, and the ability to put on the engineering hack is definitely handy for various reason. Check out the full video and let me know what your main concern is when it comes to agency growth. Don't forget to subscribe to my channel.Read More

Full-Time Employees, Freelancers, Agencies – Pros and Cons What are you supposed to do when you need special digital work whether it be marketing, web development, design or etc.? There are three common options that you can pick from:
  • Hiring a full-time employee
  • Hiring a freelancer
  • Working with an agency
I have been a part of all three. I have been an employee, a freelancer and part of an agency. On the other hand, I have hired freelancers, employees and offloaded work to agencies. There are different combinations that you can pick from. On top of that, it becomes more complicated depending on the type of skills you are looking for, expertise, the amount of time you want to be spent on a project and so on.  I am going to break them down to 3 different categories.

Hiring An Employee

First is hiring an employee. Let's say you want some digital marketing work or web development and you want to build a project that is going to be work on an ongoing basis. You could be in one of the many possible situations. For example, you may have another 50 marketers or developers already so your good to go you have processes, you have majors, you have team leaders and etc. Or you may be a very small team that essentially has 5 people only, looking to expand by hiring new people in-house or by reducing costs and offloading externally. Those are different combinations but in a nutshell, if it is a small project that takes 5-10 hours it obliviously doesn't make sense to outsource it to a full-time person that you have in-house because this person is going to get paid for a 40-hour work week while only being busy for 8 - 12 hours a week. On the other end, if it is a large project then you are relying on a single person to handle that activity which is normally impossible.  You usually need 2 or 3 people for that, people that have different skill sets, with different expertise, with know-how in different areas to be able to take on that challenge. On top of that, you need someone to manage them. [Tweet "You need to make sure you work with a type of agency that is similarly sized or a little bit smaller than your company, an agency that you can familiarize yourself with the team and where you can explain your expectations."] Let's look back at our previous examples. For the marketing example, you will need a marketing director who is going to communicate with people that are dealing with branding, with creative and with development and to also handle other types of activities advertisement and PR activities that are not directly related to marketing. For our web development example, they have to coordinate and also find people dealing with quality assurance, server management, deployment, infrastructure and a lot of other activities that you don't really think of while working on the project. Like I said, it gets more complicated. In a nutshell, hiring an employee makes sense if you want to develop the whole department yourself if you want to build a team of experts full time dealing with these activities. Hiring just one person, for the most part, isn't that efficient. It isn't the best solution and more often than not, there are more effective solutions like off-loading that work to someone else.

Hiring Freelancers

The second is freelancers. Freelancers share some commonalities with full-time employees in a way that they don't posse all the skills that you need but they are available a few hours a week, a few hours a month or available on-call. So, it is a flexible agreement that works especially for small projects. But it gets a bit tricky as your project grows larger because you need more commitment and more time. A freelancer is normally working on numerous projects and they may not be available. Or they may be having a hard time on other projects and could be looking for a full-time job since you normally only cover around 20% of what they are looking for on a monthly basis. That is something that has actually happened, I have worked with freelancers who have started full-time jobs because they couldn't pay their expenses. Not all freelancers are successful. There are also freelancers that work part-time jobs. There are freelancers that freelance as a part-time job. Those are things that need to be considered along with skills. For example, you want a web development platform, this platform may require back-end development, front-end development, creative, DevOps jobs and etc. Finding someone that is a full stack, being senior and also affordable isn't trivial but you really need to consider the different options. It's an opportunity, it could be cheaper than hiring someone full time or using an agency but you have to be prepared to deal with their time frames, limitations of their skills, or hiring several different freelancers dealing with different activities.

Outsourcing to An Agency

The third option is agency, hiring an agency that handles everything. Even though I own an agency I am going to reveal a secret, most agencies don't do a great job in what they do. The smaller agencies are trying to scale and deal with far too many things at the same time. The larger agencies often work with the systems, interns and assign people who are "on training" for different projects. You need to make sure you work with a type of agency that is similarly sized or a little bit smaller than your company, an agency that you can familiarize yourself with the team and where you can explain your expectations. Otherwise, you may just get random people assigned to your project that incurs additional overhead and so forth. Most agencies that we have vetted and agencies we get pitched for outsourcing our services don't really have any legitimate processes for dealing with the type of work they are supposed to do. These agencies expect to receive a specification, deliver what they think is right and get paid. The process is a little different they need to invest in:
  • QA
  • understanding of business requirements
  • the business needs of the customer
  • what they actually want from that specific project
  • types of monetization strategies,
  • the needs of the project as it evolves
  • and a lot of other different things.
Professional agencies deal with these things by combining different people on their team and by introducing specific processes that work on specific cases. This option is more of expensive, but not always we have had clients reduce their headcount in terms of technical staff and have hired our agency because we are more effective, faster, communicate better and etc. With an agency, you receive the full package you receive different people with different capabilities and different skill sets. But this is not someone you can bring in-house as an employee sometimes it is going to be a little bit more expensive at times depending on your agreement.  It might be slightly slower because you have more comprehensive processes that ensure stability, security, and performance. With an agency, you do receive a stable reliable solid working product, something that could grow and scale in time and most importantly you work with people who are fully qualified and fully professional in that particular type of business world or industry. An agency works with dozens or hundreds of different clients and they have their process that they use to solve certain types of problems. Whereas with employees that is often a problem they simply don't have enough background or they haven't been exposed enough to those types of problems which could potentially slow them down or may lead to specific mistakes preventing them to complete. So, there are three different options hiring a full-time employee, hiring a freelancer or outsourcing to an agency. Each has their pros and cons. Choose wisely.Read More

Can You Build a Successful Business As a Software Developer? As we all know developers and salespeople usually share different traits. A developer seems to be more analytical. Most people are more introverted, they are into maths, algorithms and stuff like that and I don't mean to oversimplify that because I'm a developer myself. But most salespeople are more extroverted trying to be more dynamic and more actionable in just jumping on calls and e-mails and this and that. So, it's a different dynamic in the environment of people that are working together. Usually again, when you see a dev and a salesperson you can easily tell the difference. Again, I'm seeing most, of course, most stereotypes are no longer effective as for the past few years, but you get the gist out of it. So, most developers who have spent several years in the company may decide, well, at least some of them may decide that they want to start their own business, become a full-time freelancer, a consultant or directly from an agency. And to be honest it is getting extremely common and that is the reason why we have so many development agencies out there, and design agencies and SEO agencies and things like that. But at least for the marketing part because creative people often work in arts agencies and marketing agencies and creative studios that are working more directly with clients we're understanding the business needs in a kind of a better way.

Understanding The Business Semantics As A Software Developer

While developers are often assigned to a bunch of tasks without really being asked to understand the business semantics of things and of course I'm talking about junior developers sometimes mid-level developers. When you become a senior developer and senior technical architect, you're expected that it's a hard requirement to understand the business semantics. Because in order to build the right architecture, in order to put all the pieces together you need to understand the business needs, the business expectations, the business requirements in order to pick the right solution for a given problem.

Can A Software Developer Found A Business?

So, now that we have it out of the way, how can a web developer or can a web developer become a founder, a successful one when they don't possess sales skills? It's a very common question, there’s a lot of web development agencies out there, lots of people who have started as developers and decided to fund their own companies and there is a good reason for that. Statistically speaking, there are lots of those cases. And the reason being is that good web developers and software developers and other types of developers are really smart. They have a high capacity in terms of brain power and memory and everything else they can collect references to different stories and resources they know where to find stuff. They think fast, they can analyze business situations. And on top of that, they get lots of business opportunities, so they did get to work on different business problems. It's always evolving, always in the learning cycle so their brain is always in a learning workflow itself. And on top of that, the salaries are really great which means that for example as a developer in most places, you can get to start your own business in a different non-I.T industry and probably pay people half of your usual salary or even less. Again, I’m talking about different types of jobs that are not in I.T., not in digital, not in the medical industry, or law. It's simply the gap is too high, so you can start small by even offloading a portion of your salary to a different role which is not an I.T, which means that demand is slower, and the usual salaries are lower. That's again I'm oversimplifying. It's likely that web developers and software engineers may look forward to different opportunities to start on their own which is fine. Again, I still don't advise most people to take this route because it's a lot of work that's not really devolvement related. Like, when I started as a business owner, first I started as a freelancer and then I founded the company. I soon realized that the time I was spending on development was getting shorter and shorter and shorter and shorter. Because I had to do sales and marketing, and networking and finances, and accounting, billing, legal stuff, and a bunch of other different things unrelated to what I was supposed to do as a developer, right? Because that's the essence of running a business. But still, most people believe or it's a common way to start a business is to just focus on sales. [Tweet "When you become a senior developer and senior technical architect, you're expected that it's a hard requirement to understand the business semantics."] If you're a great salesman, of course, you can go door to door. You can do networking events you can again meet up through conferences, you can write cold emails and eventually find clients and when you find clients you can work for them at the same time you can potentially hire people and you can outsource those people to those people. And of course, there is another misconception here because a great developer is not necessarily a great manager, a great recruiter, a great leader and a lot of other things that a senior, kind of a CEO or a Founder needs.

What Software Developers Can Do About Sales

But regardless if you've decided to do that, you have several different options.

Learning Sales

The first of course is learn sales, just become more extrovert, just overcome your objections and everything else start talking to more and more and more clients start pitching your services try to solve problems for us. This is the number one most important thing and you need to deal with because once you start solving problems there is a high chance that customers are going to come to you asking you to solve their problems by paying you just a portion of the return on investment that you are supposed to get. That’s the first rule of thumb so to speak.

Finding A Co-Founder

Number two is trying to find a co-founder CEO co-founder is probably the smartest thing that most people tend to do. They get the business person who is again an extrovert, someone who is great at sales. Someone who can do the sales for them. And again, that's a great way. Usually, you get someone who's V.P. of sales elsewhere or a chief sales officer or someone else who is ready to become a co-founder of your business. Given the fact that they like the idea so they do the sales part for you and potentially at first they also take care of market analysis and business planning and other bids so that you can possibly stay at the role of CEO for a certain amount of time.

Working With A Sales Agency

Number three is work with a kind of sales agency or something else by sales agencies usually mean all of those lead generation agencies that also do outreach. This may be a good start for you. Some work, some not. But, if you're in a niche that's not that competitive and if you provide something unique, this may be something to do.

Using Marketplaces And Partnerships

Number four, think of using some form of a marketplace. Marketplaces do the kind of marketing for you. And this may be a great idea to utilize their own services so that they can bring new leads one way or another. Another option of the marketplace is partnerships. Partnerships could be instrumental because for example as a web developer you can partner up with a hosting company with an SEO company, advertising, creative, other things that also work with clients who have websites. So, if you find the right partnerships, you can work together with the same client and retain them for a longer period. This could be a mutually helpful relationship by you, also onboarding your own clients to the types of services that your partners are following.

How Developers Can Become Marketers

Next one is marketing. You can entirely bet on marketing which could be outbound and inbound and try to build a brand of yourself investing in press releases, investing in content marketing, PPC and a bunch of other things in order to work around the sales issue. I know a lot of people who run agencies and they don't have a sales staff. They don't really take on sales calls. They only have requests for proposal forms with lots of fields and their clients are only going to that specific form. Closing that form, sending it and if the company is interested they get back to the client and say we're starting the relationship so that's, of course, a great way. And the last one is you can try to hire if you don't want to have a co-founder. You can try to hire your V.P. of sales. Now that gets a little tricky for starting businesses this could be a very expensive endeavor. And more importantly, it's likely that you cannot teach that specific person the semantics of your own business and the specifics and how to overcome objections because you're not great at sales. If you follow Steli Efti from They also have a blueprint on hiring salespeople and the blueprint starts with the CEO should be the chief salesman of the company for a while before they onboard their first salesperson. And then they can start training other people or kind of delegates that to the again, chief sales officer or someone else who is going to be responsible with it. So long story short, there are different ways to do that. The thing is you really need to decide whether you're willing to take the financial risks and work the crazy hours and so on. On running a business, that's the first thing. The second thing is you need to decide on whether you need sales, or you can go through partnerships or marketing or other channels and whether you're willing and interested in pursuing and pushing for becoming a great salesperson yourself or you need a co-founder, a V.P. of sales or someone else who can potentially do the heavy lifting for you. So once you've made a decision, you can give it a shot just again make sure that you're fully in that you're really interested in pursuing that. And if that's the case, good luck and probably see you on the interwebs.Read More

Do You Need a University Degree to Be Successful? I'm the CEO of DevriX, a team of 40, building high scale WordPress applications. So full disclosure, I've spent four years at the university and I still haven't gotten my diploma. I have a few credits left and I don't really find it to be a major priority going there, taking the final exams and basically receiving my diploma. So just to add some context here, I work in IT and I landed my first job somewhere around the age of eleven. Obviously, it's really hard to actually learn the job at that age so I was freelancing, repairing computers, reinstalling operating systems and stuff like that at the nearby computer service center. Later on, I started doing translations, writing work and a bunch of other things. My first full-time software development job was at the age of 16. I was having a hard time dealing with both things at the same time, but I managed and this was really fruitful for my future career goals. What I'm trying to say here is that I didn't need a college degree in IT, but I'm going to discuss how valuable each college degree is in the long run for different specialties.

How Valuable Is A College Degree?

First off, college degrees are popular and the reason they're popular is your parents have already graduated so they have a diploma. They have found work through that and this is how they bootstrapped their career. Second, some jobs are actually asking for that sort of degree. Third, there are some specialties that you can't really practice without a degree, such as fields in medicine, law and other legal specialties and etc. Fourth, there are tons of institutions that are relying on your annual fees or semester fees in order to make a living out of that. Universities that have been around for over a hundred years, that's what they do for a living and if nobody enrolls for their courses they are basically out of business and we're talking about hundreds to over a thousand people working in that specific institution. So long story short, how can you decide whether a diploma or any type of university degree is valuable for you? Well, I try to take a very pragmatic approach when assessing the necessity of a degree in the grand scheme of things. For example, what I try to think of is: • Are there any other ways to land a job and to pursue my ongoing education without a degree? • What are the other possible alternatives? • How expensive is landing a degree? • How long would it take? • Do I have to take any other classes afterward or internships or anything else? • What other expense are including on top of my university education like accommodation, food, other daily expenses and etc.? And this adds up very quickly. So when you think of those and then a bunch more you can try to figure out whether your diploma makes sense for you as someone looking for career development and career growth and so forth. For example, there are specific jobs and actually a lot of jobs it can start off with without a college degree. But sometimes you can hit a specific limit or a specific threshold in your career growth in your career hierarchy. For example in order to become our senior major somewhere or you know lend any other type of senior role you may be expected to have that university degree. Of course, if you're expected to work in education as a professor or even an assistant professor you may be required to have that degree as well if you want to do Arlanda for a laboratory or anything like that you would still need that specific degree. So it gets a little bit complicated and it depends on what your priorities are. But in a nutshell, think of it in the following manner. Try to calculate or try to assess the job prospects for your specific degree. For example, if I graduate from something like anthropology or Egypt sciences or something like that how likely it is for me to get a job or am I going to actually work something completely different because there are no available jobs for that specific thing. I actually know people who graduate with like a rabbit sciences or again and troppo anthropology or any other specialty that doesn't have long you know a large volume of jobs available for that specific specialty. And also people find that to be interesting and they are curious in learning that which is great but if you're having a hard time actually learning a job afterwards or if you're job opportunities are extremely limited it may actually translate to you working in a completely different type of job. So, for instance, I have like just as an example of our lead QA as our office has a masters in nuclear sciences or something like that. So their base is basically being called how to create something like you know nuclear weapons or maybe I'm overexaggerating but you get the point. But there aren't many job opportunities for that. Unless you want to work with the military and essentially engage in some kind of dangerous activity so he's working as a Q A. And he's quite happy and he's leading a couple of articulate on our team. So, in a nutshell, that kind of skill may be translatable to the type of day job that you choose to pursue another later point. For example, if you study archaeology you may not be able to go in and dig with old bones or for seals or something like that but you may find the very Neesham specific job writing for something like island or Discovery Channel or the history magazine or anything along those lines. And this degree may be of use for you with all your knowledge and all your education in that field for you to be the best prospect for that particular job. Another thing you need to consider is how likely it is for you to actually pursue that particular job and do no matter what in order to become the best at it. [00:06:11] Because again I know people who are for example can't start as managers in their parents organization or something like that but they prefer to for example become chefs and they work extremely hard over the course of several years then they Steinhafel master chef or something like that and they may be rejected one year after another after another but eventually they start there and they graduate and they learned a very reputable job in the cooking industry. But this means that they have work you know two times three times harder than almost everyone there in the field simply because they didn't just want to land a random job but they wanted to become among the best in that specific industry. So if you're among the best in your particular specialty if you really work extremely hard over the course of many many many years you will be successful regardless it's very unlikely that you won't be able to find a job in your specialty. It's just that you may kind of compete with 200 other people for five or ten different positions and this means that you really need to stand out in your particular field. But again at the end of the day, when you take a humongous loan in order to pay off your are students that you need to consider whether it's worth it in the first place. You need to account for how long would it take you to pay that debt off. And what are your other possible career options like can you actually start a job in the meantime. Can you save those money upfront or at least a portion of those money to invest in private education? Some academies will boot camps for workshops or will ever be. Can you start with kind of another specialty and then try to study in your own time through game books or courses or something like that. They're usually more than one right part for a specific job so try to explore your kind of favorite industry as early as possible try to read case studies for other people who have been in that field try to look at those people on LinkedIn see what their job is, or they have a degree already. You may even try to contact some of them you know most people are actually open to answering that type of questions. By humble people especially students who really want to understand the field better. So if you do that you can actually understand whether a university degree is required whether there are job opportunities without that whether you would be better off with a degree as compared to not. But in a nutshell, there is no right and wrong answer. Again there are some specialties like if you want to become a lawyer you need to pass the bar and in most countries, there is no way around that. Same goes for doctors. You know they need to study long and hard. Then they need to be to take apprenticeships in different hospitals and not all workers nurses will ever be paid and spend sometimes five to eight years maybe even 10 in order to become actual professionals in their field. But for most jobs that's not the case so for most jobs you're free to choose whether your kind of ideal career path. And I know how hard it is to predict that early on at the age of 17 18 19 even 20 to kind of decide on what the right path. And what would be the possible blockers. Speak with your parents speak with other parents you know ask questions on Quora or other resources and just try to get as many opinions as both as possible. Don't get influenced by a single opinion or to try to educate yourself as much as possible. Try to predict how interested you are in reality by that specific job. Find people who worry that job if it's actually of interest to you and so on. And then you would be able to decide whether a degree is needed or it's an unnecessary expense.Read More

Can You Sell Your Ideas As a Business Venture (Are Ideas Worth It At All?) [Tweet "Ideas aren't worth as much as you can think unless you have the right procedures in place, the right environment, the right context and the right ability to make consequences, pay for that idea and generate the right return on investment."] Let's talk about ideas. A question on Quora that I saw today said, "Where can I post or probably sell ideas or some working ideas that I can't develop on my own due to incapability to do so?" And that's a good question. To be honest, I know a lot of people who were more creative or you may say they are kind of dreamers they have lots of faith in some ideas they come up with and they say "Oh gosh if only I had the money and the team and you know the resource and the networks and I was going to make that idea a reality.". So, some of those people they want to kind of work as something that you know you may label it as idea generators you know people who come up with great ideas and just sell them and make a living out of that. But in reality, ideas, you know don't really matter that much and ideas aren't worth as much as you can think unless you have the right procedures in place unless you have the right environment, the right context and the right ability to make consequences, pay for that idea and generate the right return on investment. And I try to answer this question, so I came up with a list of the "10 main things that a startup needs in order to make an idea worth something.".

10 Things A Startup Needs To Sell Ideas

  • Idea
So, the first line is obviously an idea.
  • Solid Founding Team
The second one is a solid founding team. So, which means that without the founders without the pushing forces moving the idea forward there's not really much value in that right. You need to have the people running the ship you know the captains of the ship really trusting the idea really having the skills the potential the networks everything else in order to make it a reality.
  • Market validation
Number three is market validation. Market validation matters for various reasons. You need to know that your idea is worth something, you need to figure out who's your ideal customer, your buyer persona if you want. You need to validate the fact that your solution is going to solve their problem and they are willing to pay for that. And on top of that your price range is right on par with what kind of problem they have. What kind of problem they're trying to solve and how your solution taps into that specific problem. That's extremely important because I've built some solutions that are niche solving a small problem to 10 customers across the entire universe. So, I can't charge $50,000 a license right. It doesn't make sense. And at the same time, it can sell $50 apiece. If I only have 10 plants in the world again it doesn't. The math doesn't really make sense. Or it may be a fix that just isn't worth paying for. That's also a problem.
  • Marketing Channels
Number four is having some at least a couple of decent channels to sell or could be a great sales team, marketing, PR, branding of the founding team. Anything else that lets you scale. For example, you've seen some young unbeknownst startups launching on Mashable or Tech Crunch and making millions out of it. But in order to get featured from Tech Crunch, you have to have a pretty outstanding idea or know journalists to be able to do PR properly or have a Founder that has consecutive successful stories or anything along those lines. So, without that, this may not work. A sales team is the same thing. If you don't have the right people you're not really going to generate to close the deal that you're looking forward to. Same goes with marketing and so on.
  • Recruitment Strategy
Number five a strong recruitment strategy. If your business is successful, let's assume that your idea is great. You have a product market fit and great founding team and so on. The next step what you need next really is being able to sell that idea and being able to make a lot of money out of it but you still need people whether they're developers from the market or through sales support. Anything else that needs to make the idea scalable in the long run. So unless you have a great recruitment strategy unless you know that you can get access to the people in your market to have the right onboarding plan for them, it's not really going to work either.
  • Close Investment Opportunities
Number six is the ability to close investment opportunities. Now I'm going to admit that this is not necessarily important. You know you can bootstrap a business. It happens all the time. One of the Founders may put some money up front you can use credit cards, loans from friends and family. Those are different ways to make an idea worth something without an investment plan. But, in the long run for a fast paced growing startup you still need some form of an investment and you need to make sure that you have the right skills and opportunities and contacts in your networks who can make that happen.
  • Robust Growth Plan
Number 7 is a robust growth plan which means that you can prevent crashes when your business starts growing and lots of businesses actually forget about it. I still remember when we were about five people or so, we had pretty much to Skype group channels for the entire communication in our company. We had a project management system which was pretty much almost obsolete. We didn't really pay that much attention to it. Now, you know about 30 people were added to that team. We can't really live without a project management system, book tracking platform, a CRM and a lot of other tools, we work with HubSpot, we are an agency partner and we do marketing automation with HubSpot a bunch of other things. We do have managers on site. We do have people leading canter initiatives. We do have QA team and so on because once you start scaling it doesn't really mean adding more people just to the puzzle. You need more processes in place you need to management procedures in place you need some people who can stick around and so on. So, it gets a little bit trickier.
  • Automating Process and Technology Efficiently
Number eight is automating process and technology efficiently. If you run a technological product, of course, the more, you automate the better it gets like for a former client of ours. He had 30 writers of full-time editorial process. And he said, "Well, I really wish there was a way to save some time." So we did some R&D and so on. Long story short we ended up building something that saved two hours a week of each of their writers which means 30 people by two hours a week saving 60 hours a week or a total of about 240 hours a month every single month just by building one specific feature. That sort of automation helps you scale, helps you work more efficiently more effectively and generate more in a short amount of time.
  • Generating profit
Number nine is generating tons of profit. Of course, in the first 8 steps are a plus, you're going to make a living and you're going to grow steadily.
  • The Exit
Number ten it's usually the eggs. So, I'm just going to sum them up once again. So, you have the idea you have the founding team you have a product market fit which is, of course, important, some selling mechanism sales marketing, PR, a strong recruitment strategy, the ability to claw some investment, a robust growth plan, automating process and tech efficiently, tons of profit and exit. So that's kind of the story of most successful startups that were led to an exit. Right. So if you think about it and when we get to the initial point of just having an idea the idea itself isn't really worth anything, but if you have a lot of ideas so if you're one of those people with tons of ideas you basically have two different ways to make it happen the first one is learning a lot about all the other aspects so you have an idea along but this idea hasn't been validated with the market. You don't really think about the founding team about recruitment about sales growth or anything of that list. It's not really going to be worth anything right. It's just not going to work. And that's extremely important. So, the more you know about the rest of the process the easier it is to create and spark ideas that are helpful and that can fit specific business needs and that's super important. Best case scenario, of course, you can just start a startup spend a sh*tload of time on it and make sure it works at the end of the day. So that's of course number one but number two there is one other hack that kind of like and we do have a couple of clients maybe three clients that actually do that. They have their own company, but they also do consulting on the side and they do consulting for different non-profits, for private equity firms, for companies acquiring other businesses, for business development firms and so on. Those types of businesses they need some form of evaluation over an existing company in order to decide whether they need to invest in it, whether they can acquire it and so on. Or you can work directly with clients so if you can analyze the business you still need some extra skills, but if you can analyze the business and find a missing opportunity that can help monetization, that can help bring in more profit and more money on the table. You may work in that specific ideation department who may be on some form of growth hacker or whatever they call it nowadays and just focus on that idea thing. But again, you need to understand the business, so you need to go to a company, you need to understand more about their business goals, business development plans who works on what, what are their main problems, how are they trying to compete with their again competitors and selling that. You can say "Okay, I see a niche opportunity here. You need to do a b c, you need to hire or allocate to people full time on that idea for six to 12 months, invest in this, this, this." Those are the opportunities for networking for generating extra revenue or would ever be. So, this is going to be a golden opportunity but if you come with an idea along that's not really worth as much as you may think, and that idea should be applicable to a specific context. So you need to find a company that has the same compatible culture, the team the founding members, everything else in order to make that business success. Just keep it in mind if you're an idea person, either start a startup yourself. Keep learning a lot about the other stages of the process or try to join an organization that really needs your specific type.Read More