We’ve learned quite a lot from our humble kitchen table beginnings since 2009, when we founded Fueled. Our now global, award-winning mobile-design and development agency has offices in New York, London and Chicago, with more on the way.
While we’ve hit some bumps along the ride, we’ve learned from them, adapted and worked out how to build Fueled into a thriving agency. We’ve come up with a ton of pro tips along the way. Here are 10 of them.
1. Brand with a single purpose.
From day one, we branded Fueled as mobile first and only, and we’ve ridden the wave of mobile’s dominance ever since. We’re grateful to receive the bulk of our new business through client referrals and friends. We do more than mobile apps — website design, branding, SEO, community building – but it’s our mobile brand and expertise that gets people in the door.
2. Fire fast.
If someone on your team is not working out, part ways now. It might leave the team crunched and you might have to work on Saturday and Sunday. Suck it up and do it. You’ll thank us later.
When we hire someone, we tell them up front that it’s for a three-month trial period. At two months, we have a check-in and assess the relationship from both sides. This gives them a month to improve or keep on keeping on. If major issues remain unsolved by the end of that three months, we say goodbye. When something is not working out, it’s a mutual feeling more often than not.
3. Only charge flat fees for very discrete deliverables.
Hourly rates or project fees? We finally found the perfect balance: charge flat fees for a series of well-defined, discrete deliverables with clear, inelastic boundaries.
Once a project is rolling, we move to a structure with a flat fee for a set amount of work. For us, that usually means a build of an app with a certain set of features. Clients know what they’re paying, and we know what we’re delivering. If the client adds features, we layer on more deliverables and flat fees.
4. Get paid up front.
Don’t start working until you get paid up front. Seriously, stop. Do something else until you get the money.
It may feel cheeky, but there’s no faster way for an agency to fold than to carry the debt of your clients’ unpaid bills. We ask our clients to pay in advance for each two-week period of work. If they don’t pay, we don’t work.
5. Avoid cheap clients.
If a potential new client tries to lowball you or asks for deep discounts, shut the door.
It’s this weird, inverted ratio: the law of discounting. The deeper the discount or the more generous the favor we give, the more unrealistic clients’ demands will be. For some reason, the clients who demand discounts will never be happy with your work, and they’re hardly worth your time and aggravation.
6. Build a lean product.
Bully your clients into building less, not more. Some clients are surprised when we push for a smaller contract (which means less cash for us). But experience has taught us that six-month builds of apps with 150 screens is effectively a guaranteed disaster. Focus first on what you can build in eight weeks, max. Then add and release the most compelling additional features in one- or two-week increments.
7. Have plenty of conference rooms and phone booths.
Remember this ratio: one to 11. Fueled runs and houses its NYC team in The Fueled Collective, a coworking space with 150 members and 35 startups. We’ve found that the magic ratio of conference rooms to people is 1 to 11.
Spacious conference rooms for five to eight people are great, but the number-one use of conference-room time is phone calls made by one or two members, so to be efficient with space, try creating phone booths or micro-conference rooms. A few nooks for impromptu breakouts is also very useful.
8. Managing the client and managing the process are two different jobs.
When we started out, we had “producers,” managers who handled both client relations, project management and the actual product. We’ve since learned that people are either really good at building product or really good at managing the client relationship, never both.
Now we have separate project managers and product managers. The tension between their different skills and priorities creates a healthy conflict that gets a quality product delivered on-time and on-budget.
9. Experience is valuable.
Particularly in the tech world, the value of experience is easy to overlook. We had a bias, when we started, toward young talent rather than experience. We’ll just train them, we thought.
But we’ve since learned that experience matters massively. Bringing in seasoned talent and managers is absolutely critical to our success and happiness, and it’s been worth every extra penny.
10. Think before sleeping with your co-workers.
Talented, creative human beings doing exciting work in intense environments? Love and other pangs of the heart will happen.
But think about it carefully before you give in to the longings of your loins. Just how awkward is it going to be if things don’t work out? How much time and effort are you going to spend making it right? Do you risk losing someone valuable to your company?
It might also make sense to set expectations up front, about what the consequences might be if things don’t work out. Basically, take the time to consider the consequences before hooking up with your hot colleague.
We hope these pro tips help you level-up your own agency’s game. But whatever you do, don’t stop experimenting and learning as you go. We got to where we are through constantly tweaking and iterating on how we do business.
Ultimately, our passion for experimentation and pushing the boundaries has been core to Fueled’s success.
3 Companies With Memorable Slogans, And How To Create Your Own
Three companies that have enjoyed these benefits as a result of creating memorable business slogans are Nike, Carlsberg, and Apple. Let’s look at each one now.
A good slogan serves many valuable roles in business. First, it reinforces recognition of your brand. After hearing it a few times, your consumer instantly thinks of you when hearing it again. If it’s catchy enough, they may even find themselves saying or singing it in their head, reinforcing your brand even more.
Slogans also share a little bit about your company. For instance, if your slogan is funny, it says you have a sense of humor. If it contains your goal or mission, it tells the consumer what is important to you. Some slogans share the problems the company is trying to solve or the consumer its trying to help, making it easier to identify the target market.
Finally, a slogan sets you apart from your competitors. It differentiates you from all of the other companies who offer similar services to you. And if it’s memorable enough, it puts you ahead of them in your consumer’s minds.
Three companies that have enjoyed these benefits as a result of creating memorable business slogans are Nike, Carlsberg, and Apple. Let’s look at each one now.
Company #1: Nike – Just Do It
Though many people use Nike’s ‘Just Do It’ slogan as a reminder that they can do amazing things if they just put their mind to it, its author, Dan Wieden, reports that this line actually has a grim beginning.
In fact, it was an idea he derived from a statement made by Gary Gilmore, a double murderer who, before being executed by a firing squad exclaimed, “Let’s do it!” Still, it has stuck in consumer’s minds and is undoubtedly one of the most memorable slogans of all time.
Related: Registering a Trademark
Company #2: Carlsberg – That Calls for a Carlsberg
Initially, Carlsberg’s slogan was ‘probably the best beer in the world.’ Many consumers came to know and love this slogan; however, in 2011, the company rebranded and created a new slogan: ‘That Calls for a Carlsberg.” The goal of this new slogan, according to CEO Jorgen Buhl Rasmussen, was to encourage the consumer to do good things and then enjoy a Carlsberg after as a reward for a job well done. Both have stuck in the minds of consumers, albeit with some discrepancy as to which one is most preferred.
Company #3: Apple – Think Different
Apple is a company known for thinking (and creating) outside the lines, so its ‘Think Different’ slogan fits it perfectly. According to Rob Siltanen, creative director and managing partner at the company that helped design this Apple pitch, though there are many accounts of how this slogan was created, its true inventor is Craig Tanimoto. Siltanen says that Tanimoto came up with the idea to use black and white photos of some of the most revolutionary people and events of all time and, atop each one, simply display the words ‘Think Different.’ Catchy, right?
How to Create Your Own Memorable Slogan
These are just three examples of how creating a memorable slogan can help your company get — and stay — in the minds of your consumer. So, how do you come up with this type of campaign?
One option is to get some of your company’s best talent together and see what slogans you can come up with. Have everyone submit one or two ideas and talk them out. See if any jump out at you and, if not, use them to inspire you to come up with even more possible ideas.
Another alternative is using a slogan generator. This enables you to come up with a simple, memorable slogan using keywords related to your brand. Just go through the list and of results and see which ones stand out. You could even pick your top two or three and let your social media followers vote as to which one you should select.
If you find yourself at a dead end and unable to come up with a memorable slogan, or if you lack the creativity or the time, you can also hire a marketing firm to help. Give them a little insight about your company and see what slogans they create. It may cost you some money to take this route but, as companies like Nike, Carlsberg, and Apple have taught us, a good slogan can really propel your brand.
Dear Family And Friends Of Entrepreneurs…
Young entrepreneurs often struggle to establish their businesses as they are not getting the support they need. Sometimes it is not only the obvious support of financiers and supply change developers which is lacking –but also not having that critical “home-ground support” can negatively affect the success of your venture. How can family and friends support entrepreneurs?
Entering the market as a newbie entrepreneur is a brave step, and having your family and friends share in your vision for success is critical. Once you have convinced them that being an entrepreneur is in fact “a real job” – one that requires a lot more sacrifices and hard work than a salaried worker – you can continue to encourage them to support your journey, to ultimately share in your success.
Get a job
In some communities, being an entrepreneur is not recognised as a profession. Therefore, those who pursue enterprise development are seen as irresponsible or lazy as it is not regarded as ‘real’ employment. Societal pressure to attain certain material possessions thus prevents them from pursuing their true passion.
This kind of resistance discourages a lot of entrepreneurs, making their pursuit for success even more difficult.
Finding out who your real friends are
Financial support is the most obvious support needed by entrepreneurs due to a lack of capital and start-up funding, as well as irregular payments and long periods of being cashless due to procurement holdups and fluctuation in the market for your product or service. Not everyone will stick with you in these times – and that’s OK. You may end up finding out who your real friends are, and these are the people who will give you emotional and social support to keep you focused and motivated.
“I know a guy….”
Another issue is friends and family looking for discounted prices as they know the owner. This means that they don’t see the value of the product or service, nor do they respect the owner. By asking for products and services for free, or at a reduced price, they end up taking advantage of their relationship with the entrepreneur and do not financially support his/her the business.
So, if you have friends or family who are business owners, set an example by supporting them in the following ways:
- Be willing to pay the full price of the product or service offered.
- Be kind when giving negative feedback – make sure it is constructive.
- Compliment them on good products or service. Share positive reviews on your social media pages.
- Share and promote their business among other people.
- Be patient and willing to help them establish their businesses.
Be prepared to listen to their dreams, hopes and frustrations. Sometimes, they just need an ear to vent about a bad day. Support them with a word of encouragement to keep going.
Why Embrace The Struggle?
Entrepreneurial success hinges on your ability to approach challenges with the right mindset.
Self-help and business coaching advice is littered with platitudes, which makes it difficult for entrepreneurs to know what they should take to heart. However, one universal truism that most successful entrepreneurs attribute to their success is their willingness and ability to endure the struggle.
It’s a lesson I learnt first-hand when building our ad-tech and Facebook Marketing Partner business, Popimedia. One of our sternest tests came when we moved into new premises and took on more staff to accommodate our exponential growth. Then, amid new and significant financial commitments, some of our pipeline never materialised.
It was at this time that my son was born, and our family had just moved into a new house. To preserve the business, we were forced into retrenchments and directors didn’t take a salary for a while. And, with a lower head count it became difficult to deliver on client deadlines. Needless to say, my personal and professional level of discomfort was at an all-time high.
We reviewed our operations and streamlined where we could. More importantly, though, the experience taught us a number of invaluable lessons.
Lesson #1: Reframe your context
Our leadership approach, our business mindset and our attitude needed to be drastically reframed.
There is a quote that has always stuck with me, which is: “The antithesis of comfort is struggle.”
I believe a person is moulded by the way they deal with struggle. That’s why I’ve always been inclined to welcome a proverbial punch to the face, and use as a mantra the phrase, “comfortable being uncomfortable”.
Being “uncomfortable” forced Popimedia into rapid innovation – and it was this innovation that led to a sea-change in the business. We learned how to scale, how to improve service levels, how to do what we do better, faster, more efficiently.
As a result, and without increasing our staff complement, our year-on-year growth has topped 100%. What was, at the time, the business’s greatest challenge became its greatest ally, and our biggest lesson.
Lesson #2: Fail fast, and learn from it
Obviously, this approach is not about making life difficult for the sake of personal and professional growth. It’s about understanding what is: expecting it to be difficult and taking a constructive approach towards failure and struggle.
There is one guarantee in business: you will experience failures, and you will struggle.
Central to this is your ability to recognise your failures for what they are, and quickly. This allows for a rejigging of processes, attitudes, operations, and sometimes even objectives.
My personal attitude to failure was reframed by simple sales stats. I came to understand that rejection was inevitable – but when it does happen, it brings with it opportunities. I always ask: “Why don’t you want my product? How is it not meeting your needs?” This way, “failure” is transformed into an opportunity to better understand the market and my clients.
This feedback loop has proved crucial, and allowed us to become what we are.
As an entrepreneur, the pressure never ends and you’ll never ‘arrive’. At Popimedia, we’ve come to embrace every opportunity that takes us out of our comfort zone. Working through failure is the foundation on which the entrepreneurial spirit is forged. It is the willingness to try again following a rejection, or to keep grafting knowing that there’s no guarantee of a pay cheque at the end of the month.
And doing so with the ‘chutzpah’ – the sheer audacity – to endure the hardship through mental toughness and a passion for what you do, becomes your greatest asset, because when you get comfortable, you become complacent… and complacency will work you into irrelevance.
Self Development1 week ago
5 Inspiring Quotes From Madiba To Stir You Into Action On Mandela Day
Entrepreneur Profiles3 days ago
Karl Westvig Of Retail Capital Shares His Insights Into A Year-On-Year Double-Digit Growth Business
Angel Investors1 week ago
A Comprehensive List Of Angel Investors That Fund South African Start-Ups
Ongoing Learning5 days ago
15 Of The Best And Most Unusual Online Courses For Entrepreneurs
Lessons Learnt5 days ago
11 Things Very Successful People Do That 99% Of People Don’t
Small Business1 week ago
Even SMEs Can Use Big Data: Here’s How
Branding14 hours ago
Personal Brand Or Business Brand: Which Is More Important?
Strategy1 week ago
There’s More To Team Management Than Leadership