On Quora someone asked: Is the success fees of 3% (of the money raised in that round) for an introduction to investors good for a startup that wants raise its seed investment? Is it ok to accept this deal if one firm promises to introduce investors? This was my response: I live in Southern California. … Read more
The easiest business would be to become a mobile notary, nanny or dog sitter. Construction is lucrative. So is plumbing and painting. Or you can try to make a pet supply store. My friend made two pet stores, had an exit of 7 figures on each. — Originally posted on Quora. Leonard Kim consults startups … Read more
Someone on Quora asked: If you were starting a technology startup and you have no skills, would you learn sales, design, or programming first? If not those 3 avenues, what would you learn first? Then second? This was my response: When I was 22, I tried to make my own single founder startup. I failed, … Read more
Someone on Quora asked: What are some good ways to transition from a sales role to a marketing role? I have 2 years of experience in sales and one in vertical market development. (3+ years total with Fortune 500 companies) Lead gen is of interest. This was my response: This is exactly what I did. … Read more
Someone on Quora asked: I have a business idea. No competition. Tiny start up costs and overheads. Decentralized commission based and social media driven sales strategy. A very strong value proposition and an absolutely incredible mark up. Any advice for a first time entrepreneur? This was my response: Research why you have no competition. It … Read more
If you’re a single founder company? 100% of it. If you have money, a team and you know how to delegate responsibility to have each person handle their designated tasks in their specific timesframes and run lean, then maybe 10% of it. Probably less. It’s a stressful position, but you don’t need to sacrifice your … Read more
Visit the local SBDC (Small Business Development Center) in your area. They are non profit organizations that help you create your business plans, do your financials, etc. Once everything is complete, they will submit your loan application to banks and credit unions to see which one is best equipped to fund your business. — Originally … Read more
Think local. Expand global. It’s probably better to concentrate on specific markets locally first before branching out into a national platform. — Originally posted on Quora. Leonard Kim consults startups and writes books like The Etiquette of Social Media: How to Connect and Respond to Others in the World of Social Media
Someone on Quora asked: “How do you morally justify working in e-commerce when there’s so much economic inequality in the US and you’d rather work in a non-profit? I feel more fulfilled working in a non-profit, even though there are more jobs in the e-commerce/tech sector.” This was my response: You can make a bigger influence … Read more
Someone on Quora asked: “I am an senior undergraduate student (Electronics and Communication Engineering, NIT Calicut, India) planning to apply to MS in Finance (American and Europian BSchools), this year around December. Please give me some idea about the advantages of CFA exams in June and December respectively before applying for a masters course in … Read more