If the total size of the niche community you are aiming to serve is no more than 1 million (for example), should you build your product to target them, or try to find "the bigger picture" and design the product for a superset of the community?

Start with one type of user and solve that one users problem incredibly well.

They’ll be the best marketing channel for you and be your best product feedback overtime.

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When is it worth it to put together a board of advisors? What is the expected compensation? Does the make-up of the board affect funding or acquisition?

Answered by Mark MacLeod – Partner, Real Ventures Posted in Management

I find in most cases, advisory boards sound better than they really are. I think that when you are getting started you are better of with a mentor or two. Save the board fo... (more)

Can charisma be learned? You always hear that if you run a company, you have to believe in your product 110%, and be able to sell it. Should I focus on pitching ideas mys...

Answered by Saul Colt – WOM Expert

This is just my opinion and in no way fact. I don't think Charisma can be taught or learned, same goes for passion. You need all these things to do sales well. Stepping bac... (more)

I have a product idea that is completely one-of-a-kind, nothing out there like it. Do I start by trying to develop a prototype or try to get a patent on it? I'm worried my ...

Answered by Andrew Patricio – Founder, BizLaunch

There is no simple answer to this question. If you don't show it to people and produce it you'll never know, if you do show it it could be copied. I am assuming you don't... (more)

Hi Shahar. We are an Israeli tech company that has just finished developing our product, a collective payment platform for college students. Over the next few weeks, we wil...

Answered by Shahar Nechmad – Founder, NuConomy Posted in Money

Hi. Sorry for the late answer. I was travelling and spending time fully disconnected at burning man. I would be happy to see if I can help you. For NuConomy we raised two ... (more)

We've set several press releases to reporters about our new startup and haven't heard back. Should we follow up or try to outline the story better and resend?

Answered by Jen Evans – Founder, Sequentia Environics

You can try ... these are very busy people. I've heard some reporters say they get a couple of hundred press releases a day. Sometimes no response just means no interest, a... (more)

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