Noah Godfrey

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• I'm developing a product which will help local newspapers move into the future by selling more subscriptions through smart devices. I am having a problem getting replies from these newspapers. I know my solution could be extremely beneficial but trying to get a reply and hopefully a meeting has been tough. Any advice on how I should reach them.

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    Getting in the door at any big company and finding the right person to sell to is hard … if you don’t have the ins or know the right people or know how to get to the right people, then you gotta pound the pavement, knock on doors, cold call, network like a maniac, send emails/packages, etc. It’s for this reason why the best product doesn’t always win … it needs to be coupled with effective sales and distribution or you’ll never get anywhere.

• We have two ideas and we are tying to choose one to move forward on. What steps do we need to take to make this final decision? Thanks.

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    Look at your ideas from the perspective of potential investment opportunities. I like to you the POCD framework … People, Opportunity, Context, Deal. You can google this to learn more about it. Also, before spending too much time or money on any idea, you should ask yourself: What cheap and quick experiment can I run to give me more info on whether this business will have traction?

• As an intern architect looking to use the architectural skills I've learned to make a transition into computer programming and software development/design, it has become quite overwhelming trying to figure out where to start. Do you have any suggestions on what I should focus my time and efforts on? Go back to school? Read tutorial books? etc.....

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    If this is what you’re set on doing, it sounds like you gotta eventually go back to school. It may be worth doing some work on your own first to see if this is really what makes your boat float … try Codecademy.com or pick up some coding 101 books.

• I am looking to develop a team to help me build my idea. Someone who will be committed and determined. Where can I find a the right people?

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    Network network network. You’re selling your idea and asking people to jump on board with their time, heart, soul, brain, experience, (money?), etc. … so find out where the type of people you’re looking for congregate and go there.

• What are some signs (other than obvious ones like no sales/users) that it may be time to scrap your project and move on/pivot.

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    Ask yourself … Is the problem I’m trying to solve still worth solving? If so, can I still solve it in a meaningful way (i.e., one that will creates value)? If the answer is yes, soldier on … startups have big ups and downs so don’t get demoralized. If the answer is no, move on.

• How did you guys get started in owning your own business?

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    Before starting GigPark, my business partner and I worked together in another company. This level of comfort with each other was massively important because finding the right business partner is as hard as finding the right life partner. And then it was just a matter of both of us wanting to start our own business and the right timing.

• Hi Noah, what types of businesses do you look to get involved with in the philanthropy fund? Have you looked at start ups looking to bring health care innovation in developing nations?

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    The SixPoints Jewish Venture Philanthropy Fund (JVPF) makes targeted venture-level investments in creative new programs and organizations that have the potential for social impact, scalability and sustainability. The ideal funding opportunity for the fund is one in which our financial investment and the creative input of our partners will provide vital assistance to allow a good idea to grow exponentially. We look for projects and organizations that are at a stage in its growth or development at which our investment can (1) have significant impact; (2) grow the organization or project to scale; and (3) help the organization or project attain sustainability. Our focus is on projects in Toronto so we can get close to them but we would look at bringing health care innovation to developing nations if the core team was based in Toronto.

• I am currently advising a group of young men to come together and start a technology-based business venture. There seems to be a roadblock each time I give them direction to implement, primarily one of the lead programmers/members who is gifted but very laid-back. How do I (a) get them working on something diligently and (b) help them start something with potential to generate SOME revenue quickly, whilst keeping costs down.

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    As an advisor, you can only do so much. If the founders aren’t working diligently or listening to good advice, then they are bound to fail anyway. It’s for this reason VCs and angels always talk about investing more in the people than the business itself. That being said, I find it’s often not the best strategy to simply tell someone what to do. Instead, I first help them identify short and medium-term objectives and then work with them create a plan to get there.

• How does someone put together a winning team with a very limited financial resources? Or if company is just a start-up and an army of one?

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    Selling your idea and its potential starts with selling it to the people who are going to invest their blood, sweat and tears into it. If you can’t sell it in this first step, it likely says something about the idea or the way you’re selling it. As for having limited financial resources, you’re not alone … but the winners just find a way.

• I'm looking for a fairly quick exit from my 4hww style muse (with $400,000 in revenue to date, but slightly slower now). It produces about $50,000-60,000 per year profit, but I don't want to do it anymore and want seed capital for my next startups. What should I do to sell something that size?

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    The issue isn’t with the size … it’s just about finding the right buyer. Think of your company as an asset and then think about who would want to own that asset.