How do you know who to trust?

(Viddler Screwed Old Users by deleting all their videos, so no video here šŸ™ )

Who to trust?

You always hear stories about people who get screwed over by their friends that they trusted. How do you prevent such from happening to you? Here are a few principles.

If someone behaves shadily to someone else, they will eventually do that to you too

The key to knowing who to trust is not how close they are to you, but what their core values are. When there are no zero-sum game going on between you, it’s easy to be friends. However, for some people, once they can get some advantage by screwing you over, that becomes an obvious choice.

If you have a friend who often talks about how he tricked someone else, even though he told you because you are buddies, you have to be careful of his later on. On the other hand, if your friend is always talking about how to help others, then even if you are not as close of a friend, you can trust them more.

This is like judging if you want to date/work with someone based on how they treat waiters and waitresses. If they treat you will, it just means they want something from you, but you can evaluate they true personality by how they treat others.

Careful of those who just talk about making money

If you are working with someone who just talks about money all the time, you should be careful. In their minds, making money is one of their high priorities in life, and even though working with them as partners might get you to gain a lot, it also means that there are chances that they will screw you over for a big enough paycheck. If a person always talks about “creating an impact” or “changing the industry” then you have a better feel of what motivates them and you can trust them a little better.

There is nothing wrong with wanting money or working with people that just want money. However, it’s a good red flag to raise before you completely get screwed over by someone who has been treating you well for three years.

Build your reputation with trust

In the same way, you want to build up your reputation with the right values too. If you are always talking about making money and showing off how you ripped off some stupid person, not only do you sound sleezier, but overdoing that will cause people to trust you less. Idealy you don’t want to ever be shady and do thing with integrity, but either way, you don’t want to promote that part of your personality to people.

Rather sound altruistic and naive than too materilistic and calculatey. A lot of people would want to work with you if they think you are easily tricked, instead of thinking that you are out there to trick people.

A recession is the best time to invest in startups, but not the best time to raise funds

Invest in early stage startups in a recession

A recession is the perfect time to invest in startups because

1) You get MUCH better deals with valuation
2) Each dollar gets you more stuff
3) A much bigger talent pool (not just labor pool) that are unemployed and ready to move to a startup
4) Competition Haven: large companies are not expanding but shrinking; new companies are scared to start

One of the few problems with startups in a recession, is that they have no cash to take advantage of the benefits. But if you are an investor, you solve that problem! Before your cash was just necessary to not fall behind. Now your cash becomes a competitive advantage!

Startups should not waste time raising money. Focus on being lean and sustainable

Raising money is time consuming and dysfuctional for growth (like digging for water in a dessert). Instead of begging for money from people who don’t want to give you, focus on making your business more valuable.

Be as lean as possible. Your goal is not to run fast like a cheetah and burn out. Your goal is to be a cockroach and survive lava. As time goes by and the economy recovers, you will be the last man standing. Battles are won not by how many enemiese each side has killed, but who has the last men standing.

Viralogy launches two more projects to empower the Blogging Community

Our goal with Viralogy is to provide the platform that helps promote all of the great bloggers in our community. With the Viralogy Blog, we reached out and did video interviews with some amazing bloggers. My co-founder Jun did an extraordinary job at it!

Today we’re launching two more projects to power up the Blogger’s Community: Viralogy Experts and Viralogy Themes:

Viralogy Experts

Viralogy Experts
Continue reading Viralogy launches two more projects to empower the Blogging Community

The Art of Being Bad but Good Enough

The first launch is usually crappy

Whenever we first launch a product or make a business plan, we would be so proud of it and send it to everyone. A month later, we think it’s so crappy that we are embarrassed to send it to anyone. Then we make a super improvement and think it’s the best thing in the world again. After a month of sending it to everyone, we realize it’s so hideous that we don’t want to send it to anyone again. We did that for half a dozen times.

Sometimes we tell ourselves, “If it’s good enough to be sent to everyone during the first revision, it should be good enough when it’s version 4. We don’t need to wait 2 weeks for version 5 to come out.”

Improve your product with your users/customers

If it takes a year to create a good product, taking a year and improving it at home will not be anywhere close to launching it early and using the rest of the time to improve from customer feedback. As long as you are responding to them and improving fast, they will be patient with you.

Even if you disappointed the first 100 people who used the site, you make sure that the Millions of others use a good product later on. Plus, the first 100 will hear it if you do a good job a year later and come back to it.

Take rare criticism seriously

Most of the time, you will hear people saying how good your stuff is. However, pay extra attention when someone says you need to improve, especially when it’s someone with more experience.

People don’t like to tell you negative things, so when you happen to hear one, it might be a rare opportunity for you to realize what are the biggest things you need to work on.