How To Found, Grow, and Sell A Social Good Startup (TCTV)
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Most entrepreneurs found companies to solve a problem. Adam Archer founded GamesThatGive to save the world. During a backpacking trip across the world he was inspired with the idea for the company. He then left Apple in 2008 to work on a farm before founding GamesThatGive, which builds social games where users earn money for charity by playing thanks to sponsorships from major brands. It raised a little over $1 million dollars before selling to Facebook Page management platform Vitrue earlier this year.
Watch as we talk to Archer about the challenges and advantages of starting a social good company, and how one can make a difference in the world and still turn a profit.
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Here’s Archer’s top 8 tips for entrepreneurs. Some are common sense or often cited, but it’s always good to remind yourself:
- Be passionate. If you’re not jumping out of bed in the morning to work on your idea, find a different idea.
- Find co-founders that you respect, and that share your passion. The idea is going to change, the marketing is going to change, the technology is going to change. What’s not going to change is your respect for each other and your common goal.
- Have a supportive significant other. If your significant other is as passionate and supportive of your idea as you are, this will help you keep your head on straight during all the ups and downs. (Adam says the support of his wife Lillian was invaluable)
- Love your advisors and investors. Recruit a handful that you trust, have a great network, and that you enjoy spending time with. Make sure they enjoy spending time with you too!
- Find a great lawyer. During your most stressful moments, closing deals, closing funding rounds, getting acquired, you’ll be working very closely with your lawyer.
- Hire a terrific designer. There’s no substitute for a beautiful presence.
- Network aggressively with other entrepreneurs. It’s amazing the nuggets of info you’ll get from some other entrepreneur late one night.
- Collect data constantly. Measure, measure, measure. Once the data looks good to you, create beautiful presentations that your clients, employees, board and potential acquirers will love.
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