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Using Mind Control to Raise Startup Cash

Raising Money: 100 dollar bill

Nir’s Note: This guest post is written by Michael Simpson. Michael is the co-author of The Secret of Raising Money, which he wrote with Seth Goldstein.

Raising money for a startup is like sex. The more unattainable you seem, the better your chances of getting lucky. Also, the more interest you receive from others, the more appealing you will become to everyone else.

This essay discusses two psychological principles at work in an entrepreneur’s fundraising efforts: social proof and scarcity. Nir has discussed both in previous blog posts regarding product design. In this article, I’ll take you through the mechanics of each, and show you how entrepreneurs use these tools to close their rounds.

Social Proof

“If you’re walking down the street and everyone is looking up at the sky, you look up at the sky.” -Babak Nivi, AngelList

Social proof, in essence, is the herd instinct: people are more compelled to do something if others are already doing it. In the context of fundraising, (more…)

How You Can Help Users Change Habits

Nir’s Note: This guest post comes from Stephen Wendel, Principal Scientist at HelloWallet and the author of Designing for Behavior Change. Steve’s new book is about how to apply behavioral economics to product development. Follow him on twitter @sawendel.

Help users change habits

It can be extraordinarily difficult to stop habits head-on. Brain damage, surgery, even Alzheimer’s disease and dementia sometimes fail to stop them.1Eldridge, Laura L., Donna Masterman, and Barbara J. Knowlton. 2002. “Intact Implicit Habit Learning in Alzheimer’s Disease.” Behavioral Neuroscience 116 (4): 722. But why are they so difficult to change? (more…)

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Hunting for Habits: Keying in on smart design to make a product irresistible

Nir’s Note: In this guest post, Ryan Hoover describes the design decisions and strategies used to build a habit-forming product, largely influenced by the learnings on this blog.  Follow @rrhoover or visit his blog to read more about startups and product design.

Bugs Bunny and Elmer Fud

Recently, Nathan Bashaw and I launched Product Hunt, a daily leaderboard of the best new products. As two product enthusiasts, we wanted to create a community to share, discover, and geek out about new and interesting products. But to make it a success, we knew we had to make it a habit, a product people would use every day. (more…)

3 Ways I Use Technology to Find Happiness

Nir’s Note: This guest post comes from Brendan Kane who has built technology for MTV, Paramount, Taylor Swift, Rihanna, and the NHL. In this article, Brendan describes how he reprogramed the way he views the world using little more than his iPhone and iPad to find happiness.

 

Using phones and other technology to find happinessWe all have the power to change our lives and find happiness. I know this because I found ways to reprogram my inner circuitry and change my perspective of the world to ultimately find happiness. A few simple steps inserted into my daily routine dramatically improved my life and helped me feel more happy, joy, and fulfillment. Surprisingly, many of my new rituals were made possible using the technology I carry with me every day. (more…)

How to Break 5 Soul-Sucking Technology Habits

Nir’s Note: In this last in a series of guest posts on the topic of technology habits, Jason Shah shares practical tips he used to regain control over his devices and break bad habits. Jason is a Product Manager at Yammer and blogs about user experience and technology at blog.jasonshah.org. You can follow him on Twitter @jasonyogeshshah.

The internet and how to break bad habits“Not long ago, in a drug and alcohol rehabilitation center in Texas, a 17-year-old boy was weathering withdrawal at its worst. His body shuddered with convulsions. He hurled tables and chairs around the hospital.

Had he been hooked on heroin? Cocaine? Jim Beam? Joe Camel?

No, his psychologist said. The teenager had withdrawn cold turkey from the Internet.” (more…)