Anyone interested in developing a new trading platform?

Discussion in 'App Development' started by Bryantrades, Mar 30, 2018.

  1. How did you do this? I have the same problem in my software business.

    Ugh this... I had to fire friends.
     
    #51     Jul 22, 2018
  2. One time it happened magically: when I struggled to launch my first product, which was barely covering my current expenses, some guys from Asia just said: "Knock-knock, Neo". It was hard to resist and they really helped me that time. It was a partnership, but they effectively offloaded all marketing/sales from me.

    Yet another time I hired a guy once to do some basic marketing, teaching him along the way. Long-term approach to grow in-house marketer, you know. This project failed and I fired the team. Several years later I met him again, this time he was more educated and willing to do real work, so I invited him back, which later converted into a partnership. Pure luck, I must say.

    There is no receipe, you just need to have a lot of communication to be able to spot an opportunity. I tried to hire and manage about 6-7 marketing guys in my life, it worked only once. Trial and error.

    As for "firing friends": because of my consistent attempts to get all people around into my team I was firing friends on a regular basis in the past :) Yes, it's hard but you get used to it over time. You just know that if somebody doesn't fit here, he will better fit somewhere else. You find that those who were always procrastinating doing marketing, later became really happy in another job where they do the work with their hands, for example. Marketing is about being motivated and goal-oriented. You either like it, or fail.

    You should also take into account that this motivation evaporates over time, no matter how good is the marketer at the very beginning. 3-5 years, then you will notice that you need to look for somebody else. Nothing lasts long, especially in marketing which is evolving even faster than trading. People get tired, it's much harder to do the same boring work on a regular basis than to study and experiment at the very beginning.

    And, even after you finally found a perfect person, there is a danger of getting out of sync with the market by yourself. Sales are always lagging in both directions, so you may notice problems only after it's too late to fix them. I read a great advice in the past: "Never outsource finance and marketing because it's the easiest way to lose control over your business", I can partially agree with it. I feel that the best way to go is to do strategic marketing by yourself from the very beginning, constantly looking for a guy who can assist you but never losing control.
     
    #52     Jul 23, 2018
  3. This is the one thing I'm picking up in general. When I hire people, they are used to help me scale. I should be able to train them to take over some aspect of my job, which I can then oversee.

    For example, I just farted around all day today while some guy did some relatively complex work for me (I trained him - it is not commoditized) and I will make ~$50K USD out of it, while paying him ~$1K.

    Hiring people to fill roles that I think are needed in theory goes very badly. There must be a specific need that I cannot fulfil because I am running out of time, or whatever.
     
    #53     Aug 13, 2018
    MaxPastukhov likes this.