Generating leads is essential for any startup’s growth. But how do you attract potential customers effectively? A lead magnet is a powerful tool to do just that: It’s a free offer that provides value in exchange for contact information. Think of it as bait that draws in your target audience. So, what makes a good lead magnet? It needs to be valuable, relevant, and instantly accessible. Your lead magnet should solve a specific problem or fulfil a need for your audience. It could be an eBook, a whitepaper, a directory, or a free trial. The key is to make it irresistible and directly related to your product or service. Here’s a step-by-step guide to creating and using an effective lead magnet: Identify Your Audience: Know who you’re targeting and what they need. Choose the Type of Lead Magnet: Decide whether it’s an eBook, a free trial, a checklist, etc. Create Valuable Content: Ensure your lead magnet provides real value and solves a problem. Design an Eye-Catching Landing Page: Make it easy for visitors to see the offer and sign up. Promote Your Lead Magnet: Use social media, email marketing, and your website to drive traffic. Capture Information: Use a simple form to collect names and email addresses. Follow-up: Send a thank-you email and provide more valuable content over time. Nurture Leads: Use email marketing to build relationships and guide leads through the sales funnel. Let’s look at an example: Suppose you’re launching a new project management tool. Your target audience is busy professionals struggling with time management. A great lead magnet could be a “10-Step Guide to Managing Your Time Effectively.” This guide is valuable, relevant, and directly linked to your product. So, why is a lead magnet effective for startups? First, it attracts qualified leads who are interested in your niche. It builds trust and demonstrates your expertise. Lead magnets also help you grow your email list, which is crucial for ongoing marketing efforts. How can you start using a lead magnet? Promote it through various channels. Leverage social media ads, blog posts, and partnerships to reach a wider audience. Make sure your landing page is optimized for conversions. Clear headlines, compelling copy, and a strong call to action are essential. To maximize the impact of your lead magnet, consider these additional tips: Offer Exclusive Content: Make your lead magnet feel special and unique. Keep It Simple: Ensure the sign-up process is quick and easy. Test and Optimize: Regularly test different versions of your lead magnet and landing page to see what works best. Segment Your Audience: Tailor your follow-up content based on different segments of your audience for a more personalized approach. A well-crafted lead magnet is a simple yet powerful way to attract and capture potential customers. It helps you build a relationship with your audience and guide them towards becoming paying customers. We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Note: Our good friends and partners at Verticode wrote this piece. You can find the original version of the post linked here. Discover why a streamlined MVP is pivotal for startup triumph. Explore how a well-defined Minimum Viable Product accelerates validation, minimizes costs, and speeds market entry. In the world of startups, one term that frequently makes its way into conversations is MVP, which stands for Minimum Viable Product. But what exactly is an MVP, and why is it considered a crucial step in the journey of any budding entrepreneur? In this article, we will explore the significance of a well-defined MVP for your startup and provide you with valuable insights on how to define it effectively. So, if you're a startup founder with big dreams, fasten your seatbelt, because we're about to embark on an exciting journey! Before we delve into the "how," let's first understand the "what." A Minimum Viable Product, or MVP, is the stripped-down version of your software product that includes only its essential features. It's the raw version of your idea, a basic yet functional representation of your vision. Why Is An MVP Crucial For Your Startup? Validation of Your Idea: An MVP allows you to test your concept in the real world. It's the litmus test for your startup idea. By putting a basic version of your product or service in the hands of your target audience, you can gather invaluable feedback and assess whether your idea resonates with potential customers. This validation is a crucial step in the development of a successful startup. Cost-Efficiency: Developing a full-fledged product can be costly and time-consuming. By starting with an MVP, you can save resources and minimize the risk of investing too much, too soon. It's a cost-effective way to start building your dream. Speed to Market: Speed is often of the essence in the startup world. With an MVP, you can get to market faster, which means you can start gaining real-world experience and attracting early adopters sooner. Tips for Defining Your MVP Effectively: Clearly Define Your Goals: Start by setting clear, measurable goals for your MVP. What do you want to learn or achieve with it? Is it about testing a specific feature, gathering user data, or proving the concept's viability? Prioritise Features: Not everything you envision needs to be in the MVP. Prioritise features that are essential for the core functionality of your product. This keeps your MVP focused and user-friendly. Keep It Simple: Simplicity is key. Your MVP doesn't need all the bells and whistles. A simplified, user-friendly experience is more likely to attract early users and testers. Collect Feedback: Actively seek feedback from your early users. Their insights will help you refine your product and ensure it aligns with market needs. Iterate and Improve: The MVP is just the beginning. Use the feedback you collect to make continuous improvements. Each iteration brings you closer to your final product. In the dynamic and competitive world of startups, a well-defined MVP can be your secret weapon for success. It's your opportunity to validate your idea, conserve resources, and get your foot in the door with early customers. By following the tips provided here, you can set a strong foundation for your startup journey and increase your chances of achieving your entrepreneurial dreams. So, go ahead, define your MVP, and take the first step toward building the future you envision. Ready to see your MVP come to life? Reach out to Verticode when you're set to make it a reality. We're here to help you on your startup journey. Remember, your MVP is not the end but the beginning of a remarkable journey. We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Let's start off the Pt 2 on Local SEO: Off-Page. Find out how you can boost your startup's SEO. If you haven't read our last blogs on 'What is Local SEO' and '6 Top Tips to Boost your On-Page SEO' we definitely recommend you read them before this article. A. Local SEO: On-Page B. Local SEO: Off-Page C. Local Search Engine Optimization and Google (GMB, Maps, Search & More) D. Business Citations E. Local SEO : Technical F. Local SEO and Voice Search Optimization G. Social Signals Off-page SEO has many facets, but the most important is building links that matter. Link building unlike most other SEO tactics is an art. Here's a quick exercise just Google something like "SEO link building" or "building backlinks." You'll be amazed at how many conflicting advice, suggestions and tips spring up. Needless to say most of these don't work. Worse yet, a bad day at link building hurts your website and domain at a fundamental level. Getting Google mad at you sucks! Let's take ourselves back to this handy stat-studded study Moz published for 2018 (I don't expect any sweeping changes for 2019). The two main takeaways in regard to backlinks are: The link profile is the most powerful localized organic ranking factor. It is also the second most powerful ranking factor for Google's Local 3-Packs and expanded results (aka Local Finder). Query-based, intent-driven traffic is the bread and butter for local SEO. Ideally, if you run a Chinese takeaway in Manchester, you want to show up in the 3-pack every single time a hungry person in Manchester turns to Google for some Kung Pao. Moreover, showing up at the top in SERPs makes sure that whoever didn't care about the 3-pack will anyway find you. Forget domain rating/authority and referral traffic for a minute if you need your local SEO strategy to really pack a punch, these two reasons are what make local link building an absolute must-have for your website! There are dozens of link analysis tools out there that let you analyse your link profile in qualitative and quantitative ways. Start with something that is reliable and preferably free like Moz Link Explorer. If you want more insights, move up to something more premium, like Ahrefs, a tool that I have relied on for many years. For a more local touch, you can try out dedicated local SEO tools like BrightLocal (I don't see the upside to these if you already have Ahrefs). Local link building is, in a nutshell, the traditional link building with a local flavour. So, the preferred referring domains here will be those that cater to your location and are at least loosely related to what your business does. Inbound Link Building For Your Startup's Local SEO: How can you use inbound linking building? Local Directories, Resource Pages and Citations: Most of these will be nofollow links but they are not totally worthless. These are essentially free links that you can claim and move on to other tactics. Start with the usual suspects: Yelp, BBB, Foursquare, Trustpilot, Glassdoor and then progress towards industry-specific directories. Last but not least find and get featured in as many local directories as you can. Google Links: Same as above. Get links from as many Google assets as you can. This won't really have a massive impact on local SEO it's just a basic procedure that you need to get out of your way. Scholarships: A powerful way to build links from high-authority university, college and school websites. Not to mention, it is a great way of giving back to your local society. Charities: Donate to local charities to feature on their websites. Again, you'll be giving back to the local community in a meaningful way. Sponsorships: Find local teams: football, rugby, lacrosse, baseball, cricket or whatever your local thing is and strike sponsorship deals with them. Start smaller (school/junior levels) and build on to it as your budget allows. You can also sponsor/co-sponsor events (think marathons, book launches, keynotes), stadiums and even tournaments – if your budget allows for it. Remember – as the spending goes up, you will need to consider other marketing angles (brand awareness, chiefly) along with link building. Local Blogs: Important! Find local blogs that are related to your business and negotiate guest posting deals with them. Local Influencers: You don't really need to restrict your efforts to local influencers, but it helps if they have a local audience. Digital PR: Online press releases, sponsored articles, news and much more. It is much, much easier to feature on a local daily website than say the Washington Post. So, make the most of this. Local Events: Awards, seminars, workshops, competitions, conclaves, gatherings, roundtables attend them all and hopefully end up on relevant websites. This approach won't really be optimizable, but it's incredibly effective. Reverse Engineering: If you can actually reverse engineer link targets and leverage your competitors’ investments for your own gains, there’s nothing like it. It’s a rather complicated process that is best trusted with experienced, proven link building agencies. Unlinked Mentions: This isn't a typical link-building strategy it takes a bit of creativity, and you need to be a link-building ninja who knows their way around multiple SEO tools. HQ SEO is one of the handful of SEO experts out there who have developed a result-centric link-building process around this that guarantees some of the best ROIs and fastest results. Link building local or global is a delicate affair. Despite all the technicalities, it is eventually all about being creative  – as I have discussed at length in this post dedicated to creative local link-building strategies. Internal Linking For Local SEO Internal linking is a criminally underrated tactic especially when it comes to local search engine optimization. These links aren't just meh, because they eventually contribute to the UX: the master that all-SEO-ever has aimed to serve. I will go so far as to say that no local SEO guide (or any SEO guide, for that matter!) is complete without a quick word about internal linking something that boasts of massive benefits for little effort. Here's why: Ease of navigation : It's 2024, and maze websites are dead for real. UX shouldn't ever be an afterthought. On-Page Signals: Internals links are an important on-page SEO factor. Helping Google: When you create an elaborate internal link profile, you help the Googlebot decide with more precision which page is about what. It also helps put all your link juice in a funnel that will help you rank important pages for profitable keywords. You will always have 100% control over your internal links. So, if you haven't been doing this for your website, take a day off other things and start linking. Note: Our good friends and partners at HQSEO wrote this piece. You can find the original version of the post linked here. Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs We look forward to building with you, The foundercentre team

What Is Local SEO? Local SEO is an umbrella term that includes all the strategies and tactics that are used to improve organic rankings for local searches. Local SEO has one ultimate goal: let local searchers find you when they are very likely to do business with you. 2019 or 2050, one SEO fact will never change “We will never run out of SEO gurus who can't see beyond keywords." Despite operating in this industry for years now, this still amuses me every time I turn to Google. But I can see how it can be a frustrating experience for businesses who pay good money for such services. So, let's get one thing straight, local SEO is nothing more or less than a localized cousin of general, global SEO. It still follows the fundamental tenets of SEO, and it still holds good UX at its heart, just in its local ways. How Important Is Local SEO? Most local strategies miss a simple point in understanding why it's important to do local SEO right. Don't let anyone tell you that you can treat local SEO as an add-on or a frill to your other SEO efforts. I'll let the numbers speak for me. So, it should now be beyond every doubt that local SEO is important. With that, let's get started with what brought us all here. Our Local SEO guide will follow the content of: A. Local SEO: On-Page B. Local SEO: Off-Page C. Local Search Engine Optimization and Google (GMB, Maps, Search & More) D. Business Citations E. Local SEO : Technical F. Local SEO and Voice Search Optimization G. Social Signals Note: Our good friends and partners at HQSEO wrote this piece. You can find the original version of the post linked here. Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs We look forward to building with you, The foundercentre team

Let's start off the Pt 1 on Local SEO: On-Page A. Local SEO: On-Page B. Local SEO: Off-Page C. Local Search Engine Optimization and Google (GMB, Maps, Search & More) D. Business Citations E. Local SEO : Technical F. Local SEO and Voice Search Optimization G. Social Signals We will discuss each block at length and see how you can develop deep-focus local SEO strategies and tactics to bring everything in order. Improving organic rankings, improving the local search visibility, skyrocketing click-through rates and in general driving favourable actions through the roof, it's all a matter of experience and expertise. A. On-Page Local SEO If you are familiar with the basics of general SEO, you shouldn't have too much trouble understanding this point. Even if you aren't, do stick with me, this is the most interesting part of every local SEO project. On-page SEO has one job ,“ Grab a share of organic traffic for relevant, closely related search terms through various content assets." So, what sort of content should a local business really have? Here's a quick, generalised content scheme that most local businesses use: Home Page (the first-choice landing page): Works for businesses across the board. Contact Page (the second-choice landing page): Works if you want to generate instant leads. For example, the website for a home improvement business can lead people directly to the 'Contact Us' page. Service Pages (the third-choice landing pages): If you want to close pre-sold leads, this is the way to go. For example, a restaurant website can lead visitors to the 'Today's Menu' page. Offers, Promotions, Events (the fourth-choice landing pages): I wouldn't recommend using these as landing pages in local SEO. Keep them handy for social media and other marketing efforts. Content Marketing: Blog, News, Videos & Other Assets (the complementary landing pages): These will be incidental landing pages. Much of the traffic that these generate will be organic so you need to put in additional conversion machinery to make them count. Regardless of whether your business is hyperlocal or national, most pages and posts on your website will fall under one of these heads. One quick point to avoid any confusion: we won't be talking here about optimizing your lead magnets or improving the lead flow. Our aim here is to work towards winning more organic clicks by optimizing on-page local SEO ranking factors. 1. Optimize The Landing Page In most cases, the home page is going to be the default landing page. What I mean by the landing page here is this: Don't confuse this with any other landing pages in your marketing campaigns. Unless specified otherwise, a local SEO landing page is your Google My Business landing page. 2. The Title It's not enough to just put the name of your business in the title of the landing page. You need to add more local context to it. As of today, a good way to structure the website title is as follows: We're trying to achieve two things here: contextual and locational relevance. A service/product keyword in the title followed by some locational context sets your home page nicely. Don't forget to wrap your titles in a correct title tag. Without this tag, Google can't really understand what your page is all about. Most Content Management Systems will do this automatically for you. If you're outsourcing the design to an external developer, make sure they follow the best on-page SEO practices. Here's one question I get asked a lot: I see people using the city/area name right in their business name. Isn't that overoptimization? Yes, it is. The difference is subtle here, you should use a locational modifier (city/area) in the title on YOUR website. When you actually add it as your 'Business Name' in the GMB listing, it just looks crass, spammy and weird unless of course that's your actual business name. 3. The Content There are quite a few factors that go into the making of good content. The fundamentals of good content are the same for local business websites. As far as the landing page is concerned, you need to be extra careful in establishing: Relevancy Very, very important. The content on your landing page must be relevant to your business, to your location, to your GMB listing and in general to what wins you most clicks. Any disconnect will make people bounce, telling Google your website isn't really relevant to those keywords. Going a step further, make sure that every piece of content across your website follows this. Volume This is a delicate matter. The quality of the content is rarely dependent upon its length, but that doesn't mean you can get away with a landing page that has a couple of sentences here and there. Aim to develop your landing page in a natural fashion and worry about the word count only when it's too low (less than 300, for example) or astonishingly high (anything above 5,000). When it comes to blog posts and other content marketing assets, you don't really need to worry about the upper limit. For reference, a well-performing blog post takes about 7-10 minutes to read (1,500 to 2,500 words). Tags This is quite basic but still needs to be reiterated. All your content must follow the general SEO best practices. This means: Using heading tags wisely. Adding appropriate alt-text to all images. Adding helpful, SEO-ready meta details to each page and post. Using localized URLs without overoptimizing. 4. The NAP Details (A Local SEO Must-Have) The NAP details which include name, address and phone number are non-negotiables for every local business SEO effort. Here's the best way to go about this: The Business Name As I pointed out earlier, the business name should always be the name that's on your business cards. If I were to run a Tom's BBQ in London, "Tom's BBQ" will do just fine there's no need to overoptimize and go for "Tom's BBQ in London." Important You can be a little adventurous with your titles and URLs – but not with NAP. This is because Google will pick up NAP details when you use structured data markups. In this case, the title of my website can well be – Tom’s BBQ – 24×7 BBQ Restaurant in London. But the schema-fied business name MUST be Tom’s BBQ. The Address The address should be precise, accurate and in the right local format. The Phone Number It's quite likely that you have multiple phone numbers that people use to get in touch with you. While I understand the need for this, stick to using just one number that is present all over the internet: on your website, citations and the GMB listing. This will avoid any potential conflict that can lower your localized search rankings. Moreover, having multiple entries will only confuse your potential customers. If you must, create a separate contact page to list other phone numbers. 3 out 4 local searches result in phone calls. If you aren't doing this right, you're literally making money for your competitors. We don't want to do that so, be sure to employ the simple "Click to Call" code on your landing page. It’s a simple markup – all you have to do is wrap your phone numbers with the universal telephone schema. The Location To go with the address, consider embedding a visual map location on your landing page. This quickly tells the visitor where you exactly are. Again, it's not overly difficult and can give your UX and engagement a great edge. For seamless integration with your GMB listing and better local search SEO results, stick to Google Maps. The NAP Schema While we usually reserve schema for technical SEO, it makes a lot of sense to include it right here. The beauty of local SEO is that you don't always need to get people to actually visit your website. As long as Google shows the important details (read: the NAP details) directly in SERPs, you are all set. To feature these details as rich snippets, you need to adopt the best schema practices (the "Click to Call" is one). Wrap all the important details in a way that's prescribed here, and Google will extract and display these directly in SERPs. To future-proof your website, employ proper structured data markup across your website. How to Validate Your NAP Schema? Once you have implemented on-page NAP schema, it’s important to validate it to remove any inadvertent coding issues. You can use Google’s structured data testing tool for this purpose. The Footer and the Contact Page If your "Contact Us" page isn't the landing page, be sure to include the NAP details here all over again, in the same way. If you can't embed the map link on to your landing page, the contact page is the best candidate for it. Here’s how we add our NAP details to the footer of our website: The NAP details should also be present in the footer of your website so that people can quickly get in touch with you regardless of the page they are on. 5. The Keywords Ah, the keywords. We keep talking about keywords quite frequently on our blog. As far local SEO tactics go, you need to be on your toes all the time because the competition is real and fierce. No better place to find this out the hard way than the keyword research. Here's what you need to keep in mind while carrying out the keyword research to boost your local SEO efforts: Focus on local search modifiers: The landing page should be optimized for business + local keywords. Reverse engineering keywords from successful local competitors can yield fast results. Start from micro-niche keywords and build towards major, high-volume, high competition keywords. Exploit keyword gaps, use long tail keywords and terms wisely, maintain the natural flow of language. It's impossible to discuss all the nuances of keyword research here. Just keep this in mind creative, result-driven keyword research is never going to lose you money. If this interests you, here's a glimpse into our advanced keyword research strategy. 6. Local Content Marketing And Digital PR Content marketing is in. There only reason for this the value is it adds to your website. Then again, do it without a strategy and all your marketing budget goes for a toss. Content marketing, when done right, really has no upper limit to the ROIs it provides especially for local businesses. Most local SEO guides seem to ignore this point and I can see why. It's a time-consuming process. That, however, is no reason to chuck a potential windfall out of the window! From the local SEO point of view, here's what your content marketing efforts should do: Build topical, relevant and interesting content assets, Promote on-page engagement and sharing, Provide consistent value to the visitor, Generate leads (your landing page will generate intent-driven, hot leads, while your content assets will usually generate warm leads that you can convert with a little bit of nudging), Ultimately, boost conversions. Any local content asset you create that ticks all these boxes will ultimately boost your local SEO on a consistent basis. Here's how: Let's say you run a local dog care and grooming business in Boston. You want to create a content piece for the target audience: dog owners in Boston. What ideas come to your mind? Here's how our latest dog grooming service helps your dog. Nope. Doesn't click with Boston. Sounds like an ad, too. 10 benefits of grooming for your Chihuahua's health. Good, will work with dog owners, but lacks the Boston angle (Put it in the pipeline, anyway). It's the coldest December in Boston since 1964. 10 grooming tips to keep your dog warm, happy & cuddly! Sign me up! If I am a dog owner in Boston, I'd not only click on it, I'd send it to people I know will be interested in reading, and probably share it on my Facebook, too. If the content itself is top-notch, it will be worth linking back to for other websites, as well. So, we'll hope that local blogs, dailies and magazines pick it up. If not, you can always proactively reach out to them (digital PR). Creating diverse, unique, original and absolutely kick-ass content will never ever hurt your business it will only provide great returns on every marketing dollar. Consistency, relevancy and discipline are the keys to success, as we have discussed in our SEO content strategy guide. Note: Our good friends and partners at HQSEO wrote this piece. You can find the original version of the post linked here. Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs We look forward to building with you, The foundercentre team

Creating a compelling value proposition can feel like a daunting task for startup founders. It's the cornerstone of your marketing and defines how you present your product to the world. The Ad-Lib Value Proposition Template is a simple, yet powerful tool to help you get it right. It guides you in crafting a clear and concise value proposition. This template ensures you cover all the essential points. The structure is straightforward: Let’s break it down step-by-step: Our [product/service]: Clearly state what your product or service is. Helps [customer segment]: Define the customer segment you're targeting. Who [statement of the need or opportunity]: Identify the problem or need your customer has. By [statement of benefit]: Highlight the main benefit your product provides. Unlike [primary competitive alternative]: Compare with the main competitor to show how you stand out. Here’s an example using Airbnb to illustrate how it works: Our innovative online travel marketplace helps conscious travellers who want more authentic travel choices at a better value, by connecting them with private hosts to provide healthy travel that is local, authentic, diverse, inclusive and sustainable. Unlike Vrbo, our product offers a much broader range of options, including shared spaces, glamping, and other unique stays. And we'd be remised if we didn't do one for foundercentre: Our free-to-use platform helps first-time founders and early-stage startups who want to give their startups the best chance of success by providing them with a space to showcase how their startup operates and connect with like-minded founders. Unlike LinkedIn, our product helps you build a supportive community to help your startup grow regardless of size or stage. So, why is the Ad-Lib Value Proposition Template useful for startups? First, it forces clarity by making you think about each component of your proposition. It helps you understand your market and how your product fits into it. The template makes sure you address your customer’s needs directly. It also highlights your competitive edge, which is crucial for standing out. How long did it take you to do your 'Ad-Lib Value Proposition'? Are you happy with how it sounds? Keep refining and editing it until you're happy it encapsulates your offering. If you've done it, you're halfway to completing your foundercentre profile, so why not go and make one? www.foundercentre.co.uk We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Pricing a new product is one of the toughest challenges for startup founders. Get it wrong, and you risk losing customers or undervaluing your innovation. The Van Westendorp Model is a fantastic tool to help navigate this tricky terrain. It’s all about understanding how customers perceive your price. This model was created by economist Peter van Westendorp and has been a game-changer since 1976. It focuses on customer perception, which is crucial for any startup. The model uses four key questions to get to the heart of pricing: When is the price too high for you to consider buying? When is the price so low that you question the quality? When does the price start to feel expensive, but you'd still buy it? When is the price a real bargain? These questions help you see where your price should sit. By plotting these responses, you get a clear picture of your pricing sweet spot. You’ll find the Optimum Price Point where value and cost meet perfectly. The model also shows you the range of acceptable prices. This range is between the Point of Marginal Cheapness and Marginal Expensiveness. So, why should startups care about the Van Westendorp Model? First, it puts customer opinion front and centre, just like lean startup methods. It’s flexible and works across different markets and customer groups. The model helps you avoid pricing pitfalls that scare off customers. Plus, it guides you in setting a smart pricing strategy from the start. Here’s how to use the Van Westendorp Model in your startup: Know your target market and who you’re surveying. Craft a survey with the four key questions and add some background questions. Use tools or software to plot the responses and find your key price points. Test this price range in the market and tweak it as needed. Make sure your pricing aligns with how you talk about your product’s value. In the startup world, where being quick and customer-focused is key, the Van Westendorp Model is a lifesaver. It helps you set a price that matches what your customers expect and are willing to pay. With this model, you’re not just guessing—you’re making informed decisions. It’s a straightforward way to find that perfect price point, build trust, and grow your business. For any founder looking to nail their pricing strategy, the Van Westendorp Model is your go-to guide. We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Note: Our good friends and partners at Fulled wrote this piece. You can find the original version of the post linked here. Directors & Officers Explained In the UK’s rapidly evolving business landscape, Directors & Officers (D&O) insurance is becoming indispensable for scaleup companies. This insurance is designed to protect the personal assets of company directors and officers, shielding them from losses due to legal actions linked to their managerial duties. As scaleup businesses encounter diverse regulatory challenges, the roles of their leaders come under intense scrutiny, elevating the risk of legal disputes and liabilities. D&O insurance in the UK is crucial because of the complex regulatory and legal environment. It not only safeguards the personal finances of the company’s leadership but also maintains the scaleup's stability by covering legal defence costs. These policies act as a vital buffer, allowing business leaders to focus on growth and innovation, secure in the knowledge that they have protection against the inherent risks of corporate governance. Protection Whilst Raising "For any business raising capital, it's non-negotiable." D&O insurance is crucial due to the unique risks associated with funding rounds from venture capitalists (VCs) and angel investors. During these rounds, the scrutiny of company management intensifies, with investors closely evaluating the decisions and actions of the leadership team. Missteps or perceived mismanagement can lead to lawsuits, alleging wrongful acts such as breach of duty or misrepresentation. These legal challenges can be costly and damaging personally and the business. D&O insurance provides a layer of financial protection, covering legal fees and settlements, which is vital for maintaining investors' confidence and the company's stability during these pivotal growth stages. The main components of D&O insurance policies typically include: Coverage for Legal Costs: This includes defence expenses for lawsuits against directors and officers. Indemnification Protection: This compensates directors and officers for losses due to legal actions. Protection against Breach of Duty Claims: Covers allegations of wrongful acts in managerial duties. Coverage for Regulatory Actions: Protection against regulatory inquiries and penalties. Personal Asset Protection: Safeguards the personal assets of directors and officers in legal disputes. Settlements and Damages Coverage: Addresses financial settlements and damages arising from lawsuits. The addition to your data room that is Fuelling your growth Directors & Officers insurance is an essential safeguard for UK scaleup businesses, providing vital protection to your senior teams' personal financial risks arising from legal challenges. Ensure your leadership team's future stability and safety by choosing the right D&O insurance policy today. Get a Quote! We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Note: Our good friends and partners at FounderCatalyst wrote this piece. You can find the original version of the post linked here. SEIS and EIS are UK Government-supported tax efficient methods for angel investors to invest in early-stage businesses. In this blog, we describe why they are most likely a key aspect of your journey to take on equity funding. SEIS stands for Seed Enterprise Investment Scheme and is aimed at very early-stage businesses. The tax breaks in SEIS are more generous to reflect that investors are investing early and therefore, in theory, their money is at more risk than a later-stage EIS investment. Businesses can receive a maximum of £120,000 through SEIS investments. EIS stands for Enterprise Investment Scheme, is aimed at slightly later stage businesses and the tax breaks are slightly less generous...but still great! Under EIS, you can raise up to £5 million each year, and a maximum of £12 million in your business’ lifetime. The government has a good summary of SEIS and EIS on their website which is worth reading. Why do Investors love these schemes? The tax breaks for investors are amazing. As an example, if they invest £10,000 under SEIS in your company: They get £50,000 back, offset against their personal tax bill. They pay no capital gains tax on any increase in value. There is additional downside protection, which varies depending on their tax position. But roughly, they get a further ~23% of their investment back if your company folds, and It is likely to be exempt from inheritance tax, providing the shares have been held for at least 2 years and are held at the date of death. SEIS investments are inevitably made in early-stage businesses (they must have been trading for less than 3 years), so the valuation should be low meaning that an investor should own a relatively healthy % of the company for their investment. Benefits for Founders The primary benefit for founders is that these schemes attract angel investors to part with their money to a much greater extent than they would otherwise. If you are raising in the UK from UK investors and you don't offer the benefits of SEIS/EIS then your investment opportunity is at a significant disadvantage - and will mean that many investors won't even look at your start-up. A secondary benefit: the terms under which angels will invest under the SEIS/EIS schemes are very heavily regulated. Investors using SEIS can't ask for VC-type terms, such as liquidation preferences, anti-dilution and no-dilution...So your early-stage investment should be received with very 'founder-friendly' terms. Challenges with the schemes There is a lot of paperwork for founders to complete and manage, both pre-investment and post-investment. There are LOTS of rules. It is very easy for companies that have taken (S)EIS investment to inadvertently breach the rules - in which case, the investor loses all of the benefits detailed above and you lose the ability to raise further money under (S)EIS. Applying for SEIS / EIS Advanced Assurance You'll need to get SEIS and/or EIS Advance Assurance in place to take on any investment under the SEIS or EIS scheme. This is confirmation from HMRC that, based on the information you have submitted, investments in your company are eligible for these schemes. The good news is that FounderCatalyst includes a SEIS/EIS package for Advance Assurance, free for customers who have paid for the funding round service. To find out more about this, create an Account or Login to get started by clicking here. Please note that this blog is based on the position as of June 2023. We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Note: This was written on November 6th before we rebranded to foundercentre. "Time2Fund is the matching business tool everyone in the startup space needs." Where did Time2Fund come from and why are we so confident it's the tool that you need to progress on either your startup journey or to use to find your next big deal? Throughout this blog, we detail where the idea for Time2Fund came from, its importance in the startup space and how we see it developing in the future. The Founding What was the inspiration that sparked the idea for Time2Fund? Why is there a need for a platform like Time2Fund? The idea of Time2Fund came from working in multiple startups at university. Some of the businesses were fortunate to get to the stage of raising pre-seed and seed capital, however every time we experienced the same problems. It was too time-consuming It was too expensive We didn't have an existing network of investors to go to We thought to ourselves; there must be a better way to do this. This is where Time2Fund was born. We know that every founder has the same problems when it comes to fundraising and there are always running jokes about it. But no one focused on fixing the problem. They only saw the problem from a biased perspective. Time2Fund was born as a new generation in the startup ecosystem to allow a global barrier-free network between founders, investors, incubators and accelerators. People should have the ability to connect globally with the click of a button. Ideas should be encouraged to grow, not removed at the roots. How did the idea evolve from its initial concept to the current state of the platform? The idea has always been to have a "dating app-esque" platform, taking inspiration from how well Hinge and Tinder work. In the beginning, we envisioned matching only founders with investors. During our continual market research, we heard the want for: A directory of incubators and accelerators that we can apply to like with the investors. Incubators and accelerators also being able to process the applications in this more time-efficient way. Founders match with other founders, allowing them to ask questions to others in a similar position and foster the community feel. These will all be in the MVP launching in December '23! The Importance What value does the 'eligibility matching' bring to founders, incubators, investors, and other stakeholders? The 'eligibility matching' allows all parties to seamlessly order and filter their potential matches based on what they are looking for. Is the counterpart not being located in the South West a deal breaker? Are you looking for someone who is active or has expertise in a specific field? All of this is accounted for in the 'eligibility matching' and represented as a percent. No more time or money spent looking for the perfect matches. Time2Fund does it all for you for FREE. In what ways does Time2Fund democratise access to fundraising opportunities, especially for underrepresented or novice founders? Fundraising has always had the pre-built barriers founded of "who you know". These "prerequisites" can be incredibly discouraging to those who don't already have connections in the industry. By creating a no-barriers, FREE platform, all ideas are on an even level with equal opportunity for success. At Time2Fund, no matter your background or location, you can get your idea in front of those best suited to make it a reality. Meet the Team Both meeting at University, our friendship allowed us to build a strong partnership as co-founders where we came to support each other's strengths and weaknesses. We shared a passion for the social drive of challenging the existing way fundraising and networking is done. Aj being a dental student who worked with multiple startups, and with Oli being a data scientist, the skill-set worked very synergistically in identifying a key gap in the market and developing a solution for this. Our mission statement at Time2Fund is: "To bridge the gap between Founders, Investors, Incubators and Accelerators, by cultivating a barrier-free fundraising community. We're committed to levelling the playing field, ensuring that passionate innovators, whether from deprived regions or privileged backgrounds, have equal opportunities to thrive." Looking Forwards How does Time2Fund plan to adapt to the ever-changing needs of the startup ecosystem? We've been overwhelmed with the support and feedback we've received from founders, incubators, accelerators and investors at in-person events (like rebel meetups) and through our online outreach. By leaning into this network and listening to their needs, as we have so far, and keeping up to date with developments in the startup space, we believe we'll be able to guide Time2Fund in whatever direction our members need to maximise its use and their chances of success. Are there any upcoming features, tools, or partnerships that users can look forward to? All the features that we've talked about so far will be in our MVP soft launch in December '23! For a while after this, we will not be looking at implementing any major changes until the base model is running seamlessly. After this, however, we have plans to create a marketplace for professionals to offer their services and match with founders based on “eligibility matching”. Regarding partnerships, we have a lot of great founders and big names in the startup we are in talks with around partnering for blogs (and maybe even a podcast) that we are very excited to share with you! Are you a founder with a story to tell? Get in touch with us at info@time2fund.com Want more insights into the startup ecosystem? Join Time2Fund today and be part of our thriving community! We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@time2fund.com We look forward to building with you, The Time2Fund Team

You are a founder who has just come up with an idea. You start to note everything down. The idea becomes more and more feasible as you speak to potential users. You meet a co-founder. You map out the perfect prototype/Minimum Viable Product (MVP)... But now you need to raise capital. You want to build the next big thing, but find it difficult to understand the different rounds of funding, and what type of investments you should choose from. These rounds can involve either raising funds via debt or equity dependent on negotiation terms and relative risks posed to investors. Every startup begins with a dream. But even the most groundbreaking ideas face a universal challenge: securing the necessary capital to bring them to life. Navigating the world of startup funding can be daunting, but understanding its stages can make all the difference. Let's delve into the pivotal phases of pre-seed, seed, and seed+ funding. Pre-seed Funding: Laying the Foundation Pre-seed funding is the initial capital injected into a startup to kickstart its journey. Normally this is at the idea stage but can range to having a prototype already developed. At the pre-seed stage, funds are typically used for market research, idea validation, and possibly creating a prototype. This early backing often comes from personal savings, friends, and family (which is why sometimes it’s called the ‘friends and family round), angel investors, or even crowdfunding. This round can range from £10,000 up to £1 million. Story: Bob, had an idea for an innovative digital planner. Starting with a modest investment from his savings and friends, he began building the initial version of his tool. Seed Funding: Planting the Seed of Growth Seed funding represents the next stage, where startups acquire capital to foster growth after validating their business idea. Funds secured here play a crucial role in product development, initial marketing, hiring a small team, and gaining market traction. Angel investors and early-stage venture capitalists are the primary contributors during this stage. Seed funding can range anywhere from £100,000 to £5 million, varying based on the industry and potential. Matching to the right investor can be a difficult and time-consuming process. Story: Emily's eco-friendly shoe brand was making waves locally. To take her business to the next level, she sought seed funding, which allowed her to ramp up production and expand into new markets. Seed+ Funding: Nurturing and Expansion Seed+ funding is a subsequent round to seed funding, often bridging the gap between seed and a significant Series A round. This funding supports startups in scaling operations, expanding teams, and entering broader markets. Existing investors often contribute, along with new venture capitalists interested in promising startups showing substantial growth, this is where a business may show proof of concept or signs of product market fit. Story: After the initial success of his tech-enabled tutoring service, Jake sought seed+ funding to grow his platform's features and onboard more tutors, propelling his business forward. Key Takeaways for Aspiring Entrepreneurs Understanding Funding: Knowing the difference between pre-seed, seed, and seed+ can strategically guide your funding quest. Seeking the Right Fit: Align your startup's phase with the appropriate funding stage to optimize your growth trajectory. Being Prepared: Before approaching investors, have a clear roadmap for leveraging the capital for tangible milestones. Your startup's journey is unique, but understanding the nuances of funding stages can illuminate your path. Remember, every giant company today once stood where you stand now, pondering its next step. At foundercentre, we're committed to guiding and supporting your dream, every step of the way. We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs

Product-market fit (PMF) is a term that's become central to the world of startups and product development. But what is it exactly? Why do so many businesses obsess over it? In this comprehensive guide, we delve into the importance of PMF, how to measure it, and why achieving it can make the difference between startup success and failure. What is Product-Market Fit? Product-market fit can be defined as a scenario in which a company’s product resonates so well with its target audience that it spurs organic growth and profitability. It’s when a product addresses and solves the needs of its target market segments so effectively that those customers can't help but advocate for it. Entrepreneur Marc Andreesen, often credited with introducing the concept, simplifies it: finding a good market and creating a product that can satisfy that market. The Critical Importance of PMF Without PMF, a business can find itself in choppy waters. Alex Schultz, Facebook’s VP of Growth, often observes startups mistakenly believing they’ve achieved PMF when they haven’t. This misconception can divert teams from focusing on refining their product, as they instead pour resources into growth and upselling, which can be detrimental if the product isn’t truly market-fit. Picture trying to put together two jigsaw pieces that don't fit... Image source Furthermore, investors are increasingly interested in evidence of PMF before backing a company. After all, a business that has already found its perfect market match is far more likely to provide good returns on an investment. How to Determine if You’ve Achieved PMF Measuring PMF is both an art and a science. While there's no one-size-fits-all metric, certain signals can indicate the right fit: Quantitative Metrics: These include the: Net Promoter Score (metric used to measure customer satisfaction and loyalty by asking on a scale of 0 to 10, how likely are you to recommend our product/service to a customer), churn rate, growth rate, and market share. Qualitative Metrics: Listen for word of mouth about your product. An increase in media inquiries or mentions can also be indicative. Surveys can be instrumental in gauging PMF. By asking customers direct questions, like if they'd miss your product if it were gone, you can get a sense of how essential your offering is to their lives. The popular "40% rule" suggests that if 40% of surveyed customers say they’d be “very disappointed” without your product, you're on the right track. Achieving PMF: A Roadmap While there’s no surefire path to PMF, following these steps can guide your journey: Identify Unmet Needs: Once you know your audience, pinpoint the needs not currently met by existing products. Determine Your Target Customer: This involves understanding the specific group that would benefit the most from your product. Specify Your Value Proposition: Understand what makes your product unique and beneficial. Create and Test Your MVP: Build a minimum viable product and get feedback. Iterate: Use feedback to refine and improve. Lessons from the Giants: Real-Life PMF Successes Spotify: Turning Silence into Symphony Image Source Post the downfall of Napster in 2001, a void appeared in the digital music realm. This gap was keenly observed by Daniel Ek, CEO of Spotify. While music-sharing platforms were under scrutiny, Ek sensed an untapped opportunity: millions of users desiring legal access to their favorite tracks. Leveraging advanced technologies like web content crawlers and natural language processing, Spotify surged ahead, creating an unmatched digital music experience. Fast forward to today, and the platform boasts 220 million paid subscribers. Uber: Transforming the Wheels of Transportation The taxi industry had long been stagnant and overpriced. Noting this inefficiency, Uber’s co-founders introduced an innovative solution: a ride-sharing platform launched initially in San Francisco. Rather than directly competing with taxis, Uber created an entirely new category. With user-friendly features and attractive pricing, the brand expanded globally. Their initial strategy of offering free rides and heavy discounts to new users built a strong user base. Now, with about 131 million riders globally, Uber's influence on urban transportation is undeniable. Don’t Rest on Your Laurels Achieving PMF doesn't mean the end of the road. The market is dynamic, with evolving needs and emerging competitors. A product that fits the market today might not do so in five years, or even in one. It’s essential to keep iterating, staying in touch with customer feedback, and being willing to pivot when necessary. We look forward to building with you, The foundercentre team Want to give your startup the best chance of success by connecting and networking with like-minded founders? Create a profile and start connecting today on foundercentre. We always love to hear your thoughts and suggestions so if you have any queries please feel free to contact the team today or email info@foundercentre.com Looking for third-party support for your business? Check out our directories: Investors Business Insurance Co-Working Spaces Legal Support Growth Hubs