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[34]ML Empowering Startups

September 26, 2019 - 12 min. read

Here’s to all entrepreneurs and startups out there: we believe in you and your idea, and we’d love to see you realise your vision.
If you’re just starting a new business, we understand that it’s a journey, and can seem very uncertain at some points. But with the right type of knowledge, everything is possible.

With that said, we at 34ML have summarized a few points that we believe you need to get you started on the right path during this crucial phase.
We’ve also added a few of our favorite, start-up friendly, agencies that we’ve worked with and recommend, to help you in each step of the process. Those are listed below.

Now it’s time for you to dig in!

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What’s your goal?

And how to have a sustainable business model?

What’s your goal? And how to have a sustainable business model?

  • As said by Brian Tracy, “a sustainable business model is the process that you can use to generate profits”
  • Always think big here; big yet achievable, no matter how far down the line you’ll be achieving it. You also might want to step outside your direct product to answer this.
  • Your goal should be clear, yet also agile enough to adapt to any problems, changes, or opportunities.

Why does this matter?

Your development team should build your platform in a way that best serves your main business goals and objectives, to produce the best results and not hinder future expansions.

What’s your customer pains?
Identifying the real market needs.

What’s your customer pains? Identifying the real market needs.

  • Merge between your vision and your customer pains.
  • Should this product be built?
  • Can we build a sustainable business around this set of products and services?
  • Put yourself in a position to observe actual consumer behavior when first interacting with your product, how they actually end up using it, whether they go back to it.
  • Allow yourself to be surprised when customers behave in unexpected ways, revealing information you might not have known to ask about.

Why does this matter?

Design teams use customer insights and psychology in designing UI/UX, so we need to make sure that they have the right insight at hand.

What is effective branding, marketing and
communication, and how to pick the best channels?

What is effective branding, marketing and communication, and how to pick the best channels?

  • Branding is the first step. You want to have a clear branding strategy that is based on your values, your USP, your strategic positioning, brand persona and your tonality.
  • All the elements of your brand, from the name, the logo, the identity, the tagline should act as your brand ambassadors.
  • Your brand persona should be able to smoothly travel all the way to your marketing and communication strategies with the same consistency and clarity.
  • Think about the best and most effective channels to reach these customers, and the channels that are true to your brand persona and strategy.

Why does this matter?

Development teams build on that same strategy and persona, allowing you to fully connect with your customers in the way they’ll understand the most, while staying true to your brand essence.

What to spend on?
And how to manage your financials?

What to spend on? And how to manage your financials?

  • Branding is the first step. You want to have a clear branding strategy that is based on your values, your USP, your strategic positioning, brand persona and your tonality.
  • All the elements of your brand, from the name, the logo, the identity, the tagline should act as your brand ambassadors.
  • Your brand persona should be able to smoothly travel all the way to your marketing and communication strategies with the same consistency and clarity.
  • Think about the best and most effective channels to reach these customers, and the channels that are true to your brand persona and strategy.

Why does this matter?

Development teams build on that same strategy and persona, allowing you to fully connect with your customers in the way they’ll understand the most, while staying true to your brand essence.

What’s the importance of listening to your network,

advisors, and investors?
And how to have a killer pitch deck.

What’s the importance of listening to your network, advisors, and investors? And how to have a killer pitch deck.

  • Properly use your network to your advantage.
  • Involve your advisors and investors from early on.
  • The real purpose of your pitch deck is to open investors minds to your vision, and get them excited to know more
  • It is also to show the true growth potential of your business, your vision, what makes you unique, and how your own formula can be a winning formula.
  • Avoid having too much information, whether about the product of the financials, and avoid having information that you cannot back up with on-ground facts.

Why does this matter?

Being aligned with your developers from the start and winning over investors allows for more powerful resources that can be used in the development process to strengthen your vision.

And finally,
how to understand yourself and your team.

And finally, how to understand yourself and your team.

  • Know your strengths and weaknesses, as well as those of your partners and team members.
  • Know how to allocate these strengths across all company’s tasks, and also don’t be afraid to shift around those roles if new strengths or weaknesses arise along the way.
  • This does not just mean knowing how to manage your team, but also how to manage yourself and your expectations.

Why does this matter?

When your resources are allocated effectively, the development team is able to work with the designated person more smoothly and efficiently to get the work done right.

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Here is a list of [34]ML recommended agencies that we’ve worked with, who can help start-ups find solid grounds when it comes to any of the above points:

Branding Plush Studios

Financial & Business Consultancy Stride

Accelerator Falak Startups EFGEV

Grants EBRD

Training & Development ForwardCD

Have any questions?

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