Dan Martell

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• we provide offshore developers for startups , they can hire full time developers at about 1/4th of cost they would pay in U.S.A. How do I reach people who want to hire programmers on full time basis . I don't like Odesk and others because people want to pay $2 / hour - $5 / hour and that's not sustainable for quality development.

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    Try and figure out what type of companies hire programmers on a fulltime basis and see if they would use your company. Once you figure who your ideal customers are, then run ads where those types of customers spend time.

• With the daily deal market so saturated how can I get start-ups to engage with my company and sign up for my loyalty rewards platform?

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    Create something the startups want. If they don’t want it, then you can’t make me.

• Currently im the proud co-founder of a startup that has failed. The entire team tried there best, put all of it in but the competition got too fierce and some big players got involved as competition. My question really is, if in a year I end up starting another startup, and I try to approach investors and VC's, is having a failed startup something to be ashamed off? Wont the investor, even with you possibly having a good product trust you less because you've failed in a previous attempt?

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    Don’t wait a year. Investors don’t care so much about the failures, but what you learned and how that new perspective is going to help you. Be honest in your assessment for why you lost. It’s typically not because of competition .. it’s because you failed to learn fast enough with the resources you had. Explain how that worked and what you would do differently and that should help.

• I have an idea that I think will revolutionize the daily deal industry... but since I am only 16, I do not have the money to hire a programmer to develop the site and I can not find anyone locally to work with me as well... (I tried to learn to code but its not working out).. Im trying to find someone around my age to join my team, where should i look? Thanks

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    There’s 2 essential things you’ll need to develop to be a successful entrepreneur. Passion for the problem you’re solving. I’m talking about crazy passion. The second is your ability to scout talent and convince them to join you. That’s the barrier of entry. I can’t tell you how to do that .. you’ll need to figure it out yourself. Good luck.

• As a small start up that is going to launch in the coming months, run by university students, and low on cash. What do you recommend is the best way to look for funding, and getting out to the general public?

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    I prefer to raise money from my customers. What I mean by that is .. sell them the vision and ask for money. Customer financing does 2 things. 1) It helps you learn faster. 2) It doesn’t require giving up any equity or completing business plans or pro forma statements.

    If you’re set on raising capital … do some research on Angel.co and best practices. There’s been quite a bit written and it’s definitely the right way to go.

• We are building an online store for tours and activities. We are based and focused in Guatemala, our goal is to validate the business model & expand towards countries with similar characteristics. We have structured all the business aspects and managed to make key alliances with public and private institutions. We are raising seed capital, but would like to have a US tech investor. What would be the best way to find one ¿?

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    Go on Crunchbase and find companies like you, that have raised money from US investors, even if they’re located in other parts of the world. Reach out to the entrepreneurs of those companies to ask them this question. If they like you, they’ll typically make an introduction to their investor. Most investors like to invest in companies they can meetup with frequently enough – hence investing in or around their own city.

• I am currently working on an MVP which i plan to launch in about three months. With proof of concept at hand, I am planning to raise money to scale. What is the best way to find and create a relationship with the right investor now?

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    You could try to raise capital, however if you have a proof of concept, then launch. Investors like real traction, not speculative. I’ve seen numerous companies validate customer need by building nothing more then a power point slide. Investors like real customer orders. The best way to get to know angels, is to get an introduction from one of the entrepreneurs they’ve already invested in. Just tell em' you’re not raising and you just want to get their feedback. Doing this cold won’t result in a good response. Getting an intro will (if you’re product is interesting).

• What's a good way to test how focused your product's target market should be? If we have customers from different markets asking to use our product, but we're currently only focusing on one, is it worth investigating these other markets in the early stages?

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    I would suggest getting to product / market fit with one market first. If you’re doing something right – many other people will want to have you solve their problems but in a slightly different way. That distraction can cause you to create a product that’s bloated and doesn’t really solve anyone problem real well. Do one thing real well first and create a must have solution.

• Do you suggest having an advisory board and does this look more appealing to potential buyers?

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    Which buyers? If you mean customer – no. If you mean acquirers – no. Advisory boards look great to potential investors as a way to quickly social proof the idea.

• How do you go about getting an advisory board and do you have to provide incentives to everybody on the board?

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    Sometimes it’s easier to keep it informal. That being said, if you’re going to raise money than it could help. Advisors usually get 0.1%-0.5% equity .. if they’re A+ and will add a lot of value and be hands on, then maybe 1%. Also, it’s given with 2 year term, 1 year cliff. Talk to your lawyer.