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Secret Academy Episode - Ted Nash

From a very young age, Ted Nash had the entrepreneurial spirit. At the tender age of twelve, he created his first business -- Rediz, an online shopping portal. Other businesses he started before the age of 15 included a cloud storage platform, a travel agency, and a music site. At 17, he was the first teenager to ever reach 1 million downloads in the App Store with the app Face Rate which uses facial recognition technology. News International offered him a position as Head of Digital Product Innovation in addition to licensing his software. During his time there, he launched and managed mobile products for The Sun, The Times, and The Sunday Times. Ted was able to save up and also raise investment capital to launch a new business venture with two other entrepreneurs. Currently he is the CEO of Tapdaq, a mobile advertising exchange app in which he was able to raise $1.4 million in capital for the commercialization.

Lesson's in Today's Interview:
  • What two objectives do ALL businesses aim to fulfill?
  • How he was able to build an app that earned him the title of first teenager to reach over 1 million downloads in the App Store
  • Should you focus on building a product you're passionate about or a strategy to monetize when first starting a business?
  • Why you need to prove the value of your product before you can start charging customers for it
  • Why he doesn't recommend outsourcing at the beginning of your business
  • False impressions within the mobile app industry
  • His 80/20 rule for development vs marketing
  • You shouldn't worry about people potentially stealing your idea, because execution is 90% and the idea is only 10%
  • Using analytics to gauge the performance of your app
  • Tips for starting to build your own mobile app
  • Managing your expectations is the most important part of starting your business
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