What You Need to Know Today: August 25

Good afternoon, Early Risers!Here’s what you need to know

TECH

One important lesson from Uber’s new “Smart Routes.” Yesterday, Uber confirmed it is testing a new feature called “Smart Routes.” Basically, a cheaper bus-route option for Uber users. The lesson is simple: as a business owner you need to always be thinking of different ways to attract new customers into your business and how you can add value to existing customers. If “Smart Routes” gets traction, regular Uber rides will become a more premium service, followed by UberX, and so on. Always know there are people willing to pay more, or less, for your services. You need to always be building your product pyramid.

How to use Snapchat in your business. First know this: Snapchat is not for everyone. If your target audience falls outside 16-28, stop reading this, and move on. If your selling to the 16-28 demographic, here’s how to use Snapchat effectively. Bonus: A good rule-of-thumb whenever you want to know what the latest social media platform your business should be on (assuming 16-28 demographic): Ask your interns.

CAREER

Read this before your next Kickstarter campaign. “Raising a big round because your competitor just did, essentially keeping up with the Startup Joneses, is an all-too-common waste of time that can cripple your company,” says Eric Paley. In Why Billion-Dollar Valuations Don’t Matter, you’ll discover the unglamorous truth about raising venture capital. With great valuations, comes great responsibility.

Meet the “entrepreneurs” who have never sold anything in their life. Too many millennial “entrepreneurs” are looking for what Justin Jackson calls their Instagram moment – where they generate enough user growth they attract a big company like Facebook to buy them out. This game plan is soft. It feeds into the “Get Rich Quick” mentality, and ironically, is probably the slowest way you can get rich quick. Instead, millennial entrepreneurs should follow this advice and want to make money.

+ How a single cold e-mail landed this guy $10,000 worth of revenue

LIFESTYLE

Excuse to stay up late this fall. It was announced yesterday who, Late Show host, Stephen Colbert’s first two guests would be George Clooney and Jeb Bush – exactly the kind of guests you would expect: very famous, very topical, and practiced on the talk show circuit. But Colbert’s Late Show takes a turn starting the night after (The Verge).

Who would you like to see Colbert interview? Leave comment here.

I don’t own, I Uber. If you’ve ever wondered what’s cheaper: owning a car or using Uber? This woman ran the numbers and here’s her surprising findings.

#NOWYOUKNOW
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