Desmond Sherlock

There's a glaring irony among NFPs in the Australian startup ecosystem... They preach "know your customer" but often fail to practice it. Want to see how? Let's break it down... 👇🏾 What NFPs preach: "Always talk to your customers." What NFPs practice: Making assumptions about customer needs. What NFPs preach: "Use data to drive decisions." What NFPs practice: Relying on gut feelings and outdated information. What NFPs preach: "Build for diversity and inclusion." What NFPs practice: Creating one-size-fits-all solutions. Remember... NFPs in the startup ecosystem give great advice to founders. But the real winners are those who don't just preach, but actually practice customer-centricity. Have you noticed this disconnect in the startup ecosystem? Share your observations in the comments. ---------------------------------------------- Found this useful? Repost for your NFP startup ecosystem to "know their customer". ♻️

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Post 0224: Buy when it’s red This time last week, Wisetech and Xero, both listed on ASX as WTC and XRO were trading as follows: WTC = $83 per share, down from almost $100 per share XRO = $123 per share, down from about $140 per share These two are tech giants in Australia. And their share prices are expensive. So the best times to buy these sticks are when stock prices drop, like what happened last week. Just after one week, these two stocks are rising again: WTC = now $93 per share, up $10 XRO = now $136 per share, up $13 The best days to build wealth is when people frantically sell shares. Because shares of good companies that are driven down by irrational and emptional investors will always rise in the long run. As explained earlier, the PNG stocks don’t follow the overseas trends. You will therefore see that the stocks listed on PNGX are not rising as fast. They neither fall as fast when bad news drives world stock market prices down.

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All the Top Startups goodness! We’ve just released our Top Startups in New Zealand list, a data-backed ranking of the 5 emerging companies that you should be paying attention to right now: https://lnkd.in/d4fgJDu2 This follows last week’s release of Australia’s Top Startups list: https://lnkd.in/dV2KCqmc Check out both lists and let me know — what trends are you most excited about in the startup environment right now? #LinkedInTopStartups

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Founder-led Marketing Yes it works... at first. I've seen this strategy many times over. But the "connection" dies down when founders can barely create content anymore because of the growth of the business. This crashing dip is actually a well documented observation even before social media or crowd sourcing or customer engagement. In Business Cycle models we call it "The Founder's Trap". It's a simple strategy, founders must learn to transition marketing as they mature as leaders, the brand matures too and the company grows. #StrategyConvoWithMarco

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Is there an Aussie startup founder playbook? 📗 There are now over 15 private unicorns in Australia including Canva, SafetyCulture, Linktree, Octopus Deploy, Go1, Airwallex and more. Many of the founders we’ve backed at Galileo are inspired by these successes. This is my crack at a modern Aussie founder playbook: 1. Globally competitive – team, technology, distribution (pick at least 2 of 3) 2. Building to dominate from an Australian HQ 3. Focussed on global markets 4. Capital efficient 5. Doing business in an ‘Aussie way’ Modern examples include AirTrunk and Canva. To expand on the points above: Aiming to be globally competitive might sound obvious but its quite tricky in practice, especially in the early days where it might be hard to know or see global competition from AU. I think wanting to keep an Aussie HQ or at least an R&D HQ is very important, without this aspect you don’t get the flow on benefits to the sector. Capital efficiency is key as it can create innovative business models – we simply will (probably) never outcompete funding levels available in large countries but being capital efficiency can create new unfair advantages in other ways e.g. Atlassian B2C2B distribution style that categorises so many of our tech unicorns to date Is there a certain, distinct approach and way of operating that is shared across our most successful entrepreneurs? Are they doing business in an Aussie way?  My new post up on my (new) blog VC Down Under 👇

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“If you don’t have a system to get clients, you don’t have a business.” 💣💣💣 I don’t recall who said this, but it’s true – especially for expert businesses (coaches, consultants, agencies, SaaS etc), which often have no or only a very small team. Or work as a Solopreneurs by themselves. Because if your whole business depends on people sending you referrals, it’s on very unstable feet. Or if it depends on you calling your network. Or somebody seeing your post on social media… One of my mentors always said, the way he predicts the success rate of any expert business is by looking at the lead systems this business has. If there are no lead systems, the chances of business survival drop to below 10 %. That’s why for the past 6 years I have been “preaching” the importance of measurable, scalable lead systems – and that’s the main thing we do for our high-end agency clients: Build out lead systems for them. Here are some of the results: "We booked a lot of meetings, significantly above the target we set. With 60 meetings we signed 3 new partners – each worth 200 - 600kEUR / year for our business – and 5 more partners are in the pipeline.” - Wilfred de Roos - Hovingh & Partners, NL “We approached about 3000 people from our target group and it continuously created connections and calls, we had about 50 calls. Of course, we had a really good hook for our campaign, which seems to be important. After 3 months we were able to close 1 corporate deal (worth 6 x the investment for the system).” - Romeo Ruh, Partner at Pragmatic Solutions Ltd, Switzerland “You can do this for any industry, just trust Nathalie. She has put up a step-by-step system - everything builds on top of one another. You will be surprised about the results! I'm done with the customer acquisition for the year!” - Anja Blodow, Founder of Immo Queen, Germany And because most expert businesses are on a tight budget, I’ve decided to show you the nuts and bolts of this system in a free workshop. ➡️It’s happening next week, on Tuesday, June 18th, at 6 pm CET 😊 If you already have a thriving expert business and more than enough leads, clients and booked appointments in your calendar, this is not for you. But if a predictable way to enroll more clients sounds like a good idea to you, I invite you to join us, complimentary 💥😃. Book your seat to the free workshop here: https://lnkd.in/dPnNuwWe #LeadGeneration #ExpertBusiness #ClientAcquisition #BusinessGrowth #HighEndAgency #ClientRetention #BusinessDevelopment #SalesStrategy #ClientEnrollment #WorkshopAlert

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The valuations of AI startups are..... 1) About right 2) "Frothy" 3) Insane The round is double the initial target set by Musk’s team. Investors had been talking about raising $3 billion at an $18 billion valuation, including the new cash, The Wall Street Journal reported last month. Musk’s team raised the target in light of strong demand, according to people familiar with the matter. The money will be used to take “xAI’s first products to market, build advanced infrastructure and accelerate research and development of future technologies,” Investors in the round include brand-name Silicon Valley firms such as Sequoia Capital and Andreessen Horowitz as well as Valor Equity Partners, Vy Capital, Fidelity Management & Research, and Saudi Prince al-Waleed bin Talal and Kingdom Holding, #artificialintelligence #fundraising #venturecapital

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Bootstrappers: You can't spend $100K/mo on ads to increase your sales. You'll be bankrupt before your product takes off. The alternative? Become Sherlock Holmes for your biz. Spot subtle buyer signals that scream 'I'm ready to buy!'—without burning cash. Here's how: 1) Customer Champion Job Change When a key individual who was a satisfied customer changes jobs, it's a chance to onboard their new company. But, first, congratulate them with a note/gift. Then, ask them about their new role & project. If you can help, pitch your product. 2) Frequent pricing page visits If a prospect visits your pricing page 50 times, their purchase intent is high. Use AI tools (like ZoomInfo) to track this. Find the decision-maker, then cold email them: Keep it short, focus on their problem, & offer your solution. 3) New project initiatives If the prospect signals investment in a BIG project via press interviews or earnings releases, act fast. You can use @Zoominfo to spot these moves early and pitch your solution. Here's how: • Ask your CEO and salespeople to contact their counterparts. • Create custom content: product demos, show similar case studies, host a webinar/Q&A session, and more. • Offer personalized onboarding to ensure the client fully leverages your best features & sees real value. 4) Track keywords Say you notice a surge in searches for terms related to your solution. Use the trending keywords in your landing pages, ads, blog posts, & lead magnets to capture leads. Join discussions on subreddits, FB groups, & Twitter to promote your product. There are more buying signals (once you see them, you can't unsee)

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95% of businesses don’t need a full website to launch. ... yet. Let's break it down. I have 3 ideal launch strategies: Startups wanting to test ideas quickly → They want to validate without heavy investment → They need a simple way to capture leads → They’re focused on rapid, iterative growth Entrepreneurs with limited budgets ↓ → They need a cost-effective way to build an audience → They want to establish authority without a big website → They’re looking to create a buzz and build momentum Businesses ready for an MVP launch ↓ → They need a streamlined, effective launch strategy → They want to refine their offering through direct feedback → They’re preparing to scale after initial validation (My clients often combine a landing page with an email course) Now, my approach attracts all three types. But the adoption process varies: The 1st strategy: gets implemented immediately for fast validation The 2nd strategy: is often saved for when budget allows The 3rd strategy: gets used for a focused, email-driven launch I still see results across all strategies. It just takes different paths to success. Here’s what typically happens: → Launching with just a landing page is simpler than expected. → The educational email course builds trust over time. → They realize they don’t need a full website to succeed. → Timing, business demands, and resources play a role. You see, your launch strategy isn’t one-size-fits-all: It caters to different stages of business growth. That’s why "flexibility" is key in launching: You might think every business needs a website to start. In reality, a landing page and email course can be just as powerful. What’s your biggest challenge when it comes to launching without a full website? #Entrepreneurship #Startups #Founders #MVP

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So I’m really really in love. With emerging tech! Don’t believe me? Ask any of my clients, my cohosts Charlie or Liam or my cofounders, Cole and Weronika. P.s. I’m also very skeptical on emerging tech and will often call bullshit on new trends, although not well articulated like Sebastian or Jack. (You need to have someone to look up to I guess ) #emergingtech #podcast

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Business owners & leaders in investor-backed portfolio companies. Do you know your organisation's marketing capability score? Most people in business know that the marketing function: - Is critical for growth. - Consumes a lot of time and effort. - Is the biggest cost centre on the P&L. - Is always on a jolly (That last point is not always true) And there are several indicators that can directly measure the impact of your marketing efforts: - MQLs - SQLs - CPL - CLTV - ROMI But not all companies measure these, and if they do, they're not very accurate! When pushed, many CEOs will struggle to articulate which elements of marketing add value and those that detract. To have a high-performing marketing function you need a solid foundation. - A clearly defined marketing strategy. - Tactics that add value, are easy to implement & measure. - A culture where every employee is focused on the customer. So how can you determine the quality of your marketing efforts? 🌟An audit of course!🌟 But you don't need the sort of audit where you bring in consultants for a few weeks and spend a load of money. We have devised a FREE online marketing audit that quickly assesses your organisation's marketing capability. It evaluates 14 critical dimensions at the strategic, operational and cultural level. - It's free. - It takes 10 minutes. - You answer 70 questions. - You get a personalised Scorecard. - You get a free session to discuss your results. Want to discover your organisation's marketing score? Want to find out what's working well and less so? Want an external unbiased opinion of your marketing? Just say "𝐀𝐮𝐝𝐢𝐭" in the comments below and I will send you a link via DM. When you get the link, grab a cuppa, find a quiet space and in 10 minutes you'll have your personalised scorecard in your inbox. PS - If we're not connected, ping me a connection request so I can send the link. ♻️ Share this post with anyone who you know is struggling with marketing in their business.

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Have you ever thought what you can do with ChatGPT and no prompts, yes no prompts? 🤯 Productivity Pro is a custom-built GPT to show how any business can empower your staff to accelerate their productivity! 📈 At Mind Bicycle, we see the future where everyone will have their own AI agent for work or personal use. 🚀 The future is now! #ChatGPT #NoPrompts #Productivity #MindBicycle

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Biggest mistake first-time founders make… Hiring a development team. Yep I said it. I made on this topic on Threads blow up! (11.2 views) multiple comments, some rude and some not, but whether you want to believe it or not, In the words of my friend Chris L Davis, MBA you do not want to be technically rich and strategy poor! Many first-time non-technical founders make the mistake of thinking that hiring a development team is the silver bullet to building their tech startup. Founders often believe that hiring a development team will magically solve all their problems. They think, "If I have the right coders, my idea will come to life." But that’s only part of the equation. Your desire is to create a solution that will change the market, but you're focusing too much on the tech without fully understanding the problem your product needs to solve. You want to solve a problem and not just any problem. You want to solve the problem that your customers are willing to pay for. Hiring a development team without a clear product strategy and deep understanding of your customers’ needs often leads to misalignment, wasted time money and resources, and a product that doesn’t resonate with users. Instead of rushing to hire developers, focus on defining your problem and validating your solution. Engage directly with your target market, iterate on your ideas, and build a strong product strategy before writing a single line of code. To succeed, you need to: ✅ Prioritize understanding your users ✅ Defining the problem ✅ Planning your roadmap. This ensures that when you do bring on a development team, they’re building the right thing from the start. The goal is to not perfection, you goal is understanding and progress. tell me your thoughts!? P.S. My goal is to help founders connect the dots between their strategy, product and tech. Let's build #TechStartup #FoundersJourney #BuildToLaunch #NonTechnicalFounders #StartupSuccess

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A small number of incredible operators will beat a larger group of mediocre operators every. single. time. If you’re team isn’t good enough, don’t hesitate to cut low performers and clean house - the remaining A players will help you build back better. #startups #scaleups #management #team #culture #consultingconvos #startupsnippets

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Make your users the hero. That’s not the best way to run a business. That’s the only way to run a business. Listen to your audience and you can never go wrong. We released Unimad Pre-beta 68 days ago. We felt we have figured it out. But we were wrong. There were a lot of improvements. We previously just gave information as to how to build a profile. But students were finding it tough to complete all modules. So we have worked on changing the flow. Now it’s not just information but also intelligence. Unibot will build your profile for free. You just have to follow the flow. Unimad Beta was rolled out to the existing community yesterday. We’ll start onboarding new users from next week onwards. Use Unibot to build your profile for free. Only 250 spots available. Not using it? You’re losing it. Book a call in the link below to get onboarded to the Unimad Beta.

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I've talked to hundreds of community founders and researched thousands (and acquired 15+). Many have reached 8-figures of revenue - profitably! There are five things that the best community business founders get right from the start. 1. Deep love for their members. The best community founders really want to make their members' lives better. They love meeting with them, learning from them, and serving them. There's a respect there that you can't fake 2. Hustle. Community founders do it all in the early days - product, marketing, sales, member support, events - it's exhausting! But the best community founders realize that it's the right way to learn about their members and optimize for profitability before they scale the team 3. Member-product-monetization alignment. It's easy to get seduced by the $10k/year membership model of YPO, Hampton, Chief, etc. But that model isn't right for most communities. I've seen great community businesses built around sponsorship, events, courses, products, and, yes, membership. All of these models can produce great business if the alignment is there. 4. Small team and disciplined approach to expenses. Most of the best communities were started and scaled by teams of one or two - for a long time. The best community founders grow slowly, relying on outside contractors and doing most of the work themselves until the business is big enough to support a small team. Community businesses can, and should, be profitable. 5. Focus on organic growth. The most successful community founders rely on referrals, SEO, and owned content channels (newsletters, podcasts) instead of paid growth. The beauty of these channels is that you can provide value to your existing members at the same time as you're attracting new ones. Win win! Building a great community business isn't easy, but it's absolutely possible - and can be tons of fun along the way. Plus, how many other businesses can you start with just your laptop and zero technical skills and scale to an 8- or 9-figure exit?

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AI can't write good copy? Think Again. - 55k Impressions - 423 Likes - 567 Bookmarks And a $100MM company in the Pipeline All from a Twitter AI we trained for our Client Shaun. If you think AI can't write and are desperate to be proved wrong, DM me. #ai #chatgpt

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Steal this ChatGPT prompt to read the mind of your customers. 👇 I know talking to customers is scary. I feel you. The bad news is: you can’t do without it. Building a successful company goes through the process of understanding and meeting the needs of customers. The good news is: I’ve got a prompt to assist you. It will help you understand the: - frustrations - desires - dreams - fears …of your customers or audience. You still have to do the customer interviews. But this time you will have more context. How to use the prompt: 1️⃣ Copy-paste it to ChatGPT 2️⃣ Put your info in the brackets [] and submit 3️⃣ Generate questions to ask your customers (bonus prompt in my comment below) 4️⃣ Have a smoother cust. dev. process ☀️ I hope it helps! 🙌 P.S. What prompt do you find most useful in your startup journey? Help other founders. Share it in a comment. ⬇️ ---------- PROMPT ---------- You are an in-depth research expert in the field of [YOUR INDUSTRY]. I want you to perform customer research for me. Tell me 10 frustrations, 10 desires, 10 dreams and 10 fears that [CUSTOMER PERSONA] experiences related to [WHAT YOU HELP THEM WITH]. I want you to display the output of 10 frustrations, 10 desires, 10 dreams and 10 fears into a table. Label the X axis 1-10. Label the Y axis frustrations, desires, dreams and fears. ---------- PROMPT ----------

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