Startups Wednesday Social Club - Share What Events You Are Attending This Coming Week |
- Wednesday Social Club - Share What Events You Are Attending This Coming Week
- If you build it they do not come : what (almost) everybody gets wrong about startups
- The startup world is on fire lately. A lot of ideas circulating around and unfortunately people are putting a lot of effort building things the market does not need. Let's talk Idea Validation.
- Picking a domain name
- Did anyone take YC Startup School?
- There are a lot of posts about how to validate your product that basically boil down to "how to avoid talking to people". You need to talk to people!
- Succeeding as a blind or deaf founder
- Converting global market size to country market size
- Overcoming Analysis Paralysis and Too Many Ideas
- ARR : financial or vanity metric?
- What major would give me the technical skills for a startup?
- Self Evaluation purpose
- Question for website owner
- Starting a small clothing business and looking for suppliers
- How do you get first suppliers on your marketplace platform?
- Are there programming jobs for Math PhD's?
- Funding raising on the small side... ?
- Benefits of LLC vs INC - For a CBD Business
- Just found out manager is leaving, should I stay or should I go?
- What is your definition of "Startup"?
- Finders fee for finding investors
- An investor added me on Linkedin
- How long for an MVP
| Wednesday Social Club - Share What Events You Are Attending This Coming Week Posted: 10 Jun 2020 06:06 AM PDT Welcome to this week's Social Club thread.Share what events and meetups you are going to so we can discover new ways to be social together offline and help grow your local community. Focus on sharing events that are happening within the next 7 days of this date of this submission. Anything that falls outside of 10 days will be removed, no exceptions. No duplicate posts. If you happen to be attending an event that is already posted, leave a comment to inform the community that you will also be there. If you are hoping to organize something on your own, outside of an existing event, feel free to use this thread to rally some people together to meet up. Please use the following format to share an event: Event Name and URL: Location: Event Date: Event Time: Event Description: Event Cost: Discount Code: [if applicable] Please use the following format to organize people to meet up together: Location: Purpose of getting together: Suggested Places to meet up: You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| If you build it they do not come : what (almost) everybody gets wrong about startups Posted: 10 Jun 2020 11:21 PM PDT What I'm about to tell you comes from painful experience, I've managed to bumble my way just about staying on top of the lessons and eventually becoming successful but it was definitely the hard way. The thing is that it seems almost everybody gets it wrong, no matter how many successful people, books, etc. tell them they should think about it differently. When I meet the guys that have managed to go 0 to 30 mil ARR in 9 months inevitably they did it the way that is recommended. The simplest version of it is that almost everybody who wants to create a startup thinks of a product and tries to create an MVP as the first thing and then we're wedded to our sunk cost. Creating a product before starting to sell is generally a huge mistake. I'm a techie, so this took a long time to really sink in surely I needed something to demo or that they could see but I was wrong. You don't actually need a product to sell it. We make an AI platform this was exactly the thing where we made product that solved a problem but there was no market yet so it was really painful for the first few years. Luckily AI hype got us funding. I'd previously made other products that just didn't sell at all and didn't have the hype to land funding with no sales. Now we're looking for the best trojan horse solution to build on our platform that gets solves a pressing need but gets them on our platform. We brainstormed ideas, target markets and roles and then the first thing we did was try to sell it. Create cohorts of target customers, measure response rates, engagement, actually run through the sales cycle. Now we've closed our first sale and we haven't even started to make the product yet. They don't pay unless we deliver but they want it so badly they're prepared to close the deal before we've even started making it. We also know that lots of other people in market love it. By this point what we're going to build has also evolved a lot from our initial brainstorms, by not having built something we said hey guys we think you have this problem is this a big problem for you? We were thinking this would be a great solution would that work for you? We're going to charge X and this is the business case does that make sense, would you pay it? As we got feedback we were able to rapidly evolve the proposition in a way you just can't when you've already built something. Start with selling, not building. You don't need an MVP. I've heard great stories about people operating a personal shopping "SaaS platform" where they started providing the service in person for what they planned to charge online, operated the whole thing from spreadsheets and then got funding and built the website. Funding is so much easier this way around as well. You take this approach and you say we sold to this many people at this cost, if we get funding we can increase operational efficiency like this scale sales like this and we'll make this new number. That is a million times easier than look at my cool product can I please have money so I can sell it. The challenge is that selling even great products is hard and a completely different skill to making a product, so there is a much higher failure rate in these types of investments. If you go product first and you don't have 10 B2B customers and a million in recurring revenue or 10k B2C users getting VC investment is hard. I have a friend that started product first, failed to get early traction, went through angel round after angel round. Finally got traction, got VC money, grew the business, got Sequoia to back them but if they sold now despite the company being worth 100 million he'd only get 3 million because he's been diluted so much through the angel rounds. The guys who start sales first still own the vast majority of their business. I met one guy that made 3 billion and never needed funding because his sales growth was so strong. Again, take it from a guy that took a long time to see the light, sell first, then build [link] [comments]  |
| Posted: 10 Jun 2020 07:11 AM PDT Let's say you have a couple ideas for online marketplace platforms that you want to simultaneously validate before deciding to proceed with a single one. How would you validate ? My first step would be asking friends, relatives, colleagues to see if my idea would make sense in the real world. Feel free to add Idea Validation techniques and procedures. Landing pages, Facebook Ads, Reddit/Quora posts etc. [link] [comments]  |
| Posted: 11 Jun 2020 02:11 AM PDT I have an idea for a startup that I'm planning on pursuing, although I'm still in the phase of formulating the idea (no money and very little time invested so far). I have an idea for the name, however the .com domain name has already been taken by what looks like a pretty sizeable company, so purchasing it is not a possibility. The other (.net .info .org etc.) domain names all seem to have been taken as well, although I'd say I could get some of them pretty cheap. I was wondering if anyone had any prior experience or insight on this. Is it worth getting one of the alternative domains so I can keep my startup name of preference? Or do you think I'd be better off pivoting and choosing a new name so I can get the .com website. I want the name to be short, memorable, easy to pronounce and either monosyllabic or bisyllabic. Although a lot of these types of names have already been taken which is frustrating. Anyway I'd appreciate any advice. [link] [comments]  |
| Did anyone take YC Startup School? Posted: 11 Jun 2020 01:57 AM PDT I took it last year and aside from the high-quality content, I was highly impressed with the effectiveness of the founders' sessions. For those who don't know, there were weekly sessions where founds explained, in turns, what their startups do, and how they progressed from last weeks. The other founders could ask questions and give feedback. Each week you were matched with new 3-8 founders, preferably from your own segment. The idea is to iterate and perfect the way we talk about our startups, and it helps! If anyone here likes the idea, I'm in, and let's talk about how to do it technically. [link] [comments]  |
| Posted: 10 Jun 2020 09:22 AM PDT I'm an engineer, and I imagine a lot of people on here are engineers. I don't really like talking to random people. I don't like reaching out to them, I don't like scheduling calls, I don't like chitchat. But I learned after a few years running a startup that it's one of, if not THE most valuable thing I could do to validate my ideas before building them. Especially in the beginning when you don't really know what the market wants. So my advice is: if you know you're biased against talking to people, make sure you recognize that in yourself, and then take the time to push through it. Talking to people about their problems takes so much less effort than building your solution first. A major bonus is that if people are interested, you'll have a list of excited beta users. But you have to put in the legwork. Talking to people can be a slog, but it's very, very worth it. [link] [comments]  |
| Succeeding as a blind or deaf founder Posted: 10 Jun 2020 04:29 PM PDT Starting a startup is challenging as it is, and much of the information and tools that founders enjoy from today don't have a great fit for deaf and blind people. Do you know any resources (or tools) that address this? In fields such as entrepreneurship education, operation, forming teams, managing a company, etc. Do you have any advice for blind or deaf startup founders? (*I also posted this in r/Entrepreneur) [link] [comments]  |
| Converting global market size to country market size Posted: 10 Jun 2020 09:50 PM PDT Anyone have any ideas for converting a global market worth $X billion to a specific country. To make a best guess, would it be unreasonable to pro-rata based on the country's share of world GDP? So say a global market is worth $2 billion and that a country has a share of world GDP of 5%. Would it be unreasonable to say that the same market in that country is worth an estimated $100 million? [link] [comments]  |
| Overcoming Analysis Paralysis and Too Many Ideas Posted: 10 Jun 2020 09:33 PM PDT Hi all. I have two ideas for a start-up that I would like to pursue. The problem is, I can't seem to focus solely on one. My first idea is a marketplace app. Think of it as a blend of ebay, amazon, craigslist, and Shopify and I would automate inventory, analytics, and SEO for sellers. My second idea is a renewable energy start-up. I've been tinkering with some portable generators (less than 2lbs and can charge a cell phone), and have some cool ideas for this too (thinking of submitting patents but not sure it's worth it). I just can't commit to either one. I enjoy working on both, but my progress is so slow that I can't get anything done. I've tried hunting for co-founders with no success. What are some tips you have for staying focused? Should I drop one idea and develop another? I work a day job so I only have the evenings to work on these. Any tips would be appreciated. [link] [comments]  |
| ARR : financial or vanity metric? Posted: 10 Jun 2020 09:19 PM PDT Hi guys, ARR has been all the rage for some time in the tech world. But from a cash perspective, depending on whether the business bills monthly or sell annual/multi-year deals, the cash flow reality seems to show a very different picture. Even worse for companies that are transitioning from a classic software vendor to a SaaS machine as Rec Revenue takes into account the maintenance portion of term licenses, making things even more "fun". I understand investors look at ARR in conjunction with other metrics (CAC, LTV, churn/retention, GPM etc). My question is simple: is there any merit using ARR as a financial performance metric to make capital allocation decisions or is it a vanity metric? I understand that from a valuation perspective, a CEO would want to solve for max ARR under the constraint of CAC/LTV and GPM but is it really a good proxy of financial (and/or operational) performance in your opinion? Thanks [link] [comments]  |
| What major would give me the technical skills for a startup? Posted: 10 Jun 2020 05:32 PM PDT I'm super interested in biotechnology and computer science but i ultimately want to achieve a lot of the goals the transhumanist community wishes done so i must become a great entrepreneur. Which one of those fields will give me more opportunities in terms of business? If i could do a double degree, what should i take? I understand learning can be done without college but i feel like it'll give me some credentials, knowledge, social network and overall more resources so it's important to choose the right field so i can be in the right environment. [link] [comments]  |
| Posted: 10 Jun 2020 08:11 PM PDT Hi y'all, I am really excited because I just joined a startup a few months ago. I was just given a self-performance review and I'm kind of stressing out! I feel it's like a long form version of that question 'What is your greatest weakness?" that has become so cliche. How do I fill it out to make sure I put in all the right answers? Are there answers they are looking for? Am I overanalyzing and should I just be honest? I'm curious to hear what y'all think. [link] [comments]  |
| Posted: 10 Jun 2020 07:05 PM PDT I've been working for 2 years on a startup which I own 100% of and am the only investor. We're growing daily but I always had something in the back of my mind. If someone wanted to buy my website could I sell it even though some of the code has been purchased from a theme/plugin company? [link] [comments]  |
| Starting a small clothing business and looking for suppliers Posted: 10 Jun 2020 07:01 PM PDT Not sure if this is the right sub, but I'm looking to purchase white blouses in bulk, does anyone know where I can get them other than AliExpress and eBay? I'm looking to order around 20 but increase in the future. Any recommendations of where or how I can get them? Thanks in advance! [link] [comments]  |
| How do you get first suppliers on your marketplace platform? Posted: 10 Jun 2020 11:25 AM PDT Hi guys, I'm really struggling so would love to hear some thoughts. I'm building an app where merchants can sell their items through live streaming. Think of Twitch version of QVC. I'm an engineer so there's no problem with building a product. The problem is I can't get merchants even reply my email. I'm finding people who are already selling on Facebook live and contacting them to explain my product and ask for a chance to chat. But the response rate is 0% so far. Obviously no one cares about me or my product at this point, and this is really frustrating. How did you overcome this stage? Honestly I think I would be so happy even if 1 merchant replies to my email. Any advice would be appreciated. Thanks! [link] [comments]  |
| Are there programming jobs for Math PhD's? Posted: 10 Jun 2020 04:55 PM PDT A friend in my network graduated with a PhD in Math and wants to work in Tech as a programmer. Looking at his CV below, would anybody hire him? Schools BSc in Mathematics (CS minor) - 4.0 GPA Cambridge University -MSc Maths (Topology) - Merit Oxford University - PhD in Maths Work Experience Alan Turing Institute - Research Associate in Computer Vision for 1 year. Software developer - 9 months in total Good knowledge: Python, C++, PHP. Question, is he hireable for any of the big tech firms? or startups as a programmer? [link] [comments]  |
| Funding raising on the small side... ? Posted: 10 Jun 2020 08:24 AM PDT The company I'm raising seed for doesn't require a lot of money. It's a mobile app so we don't need huge infrastructure or lots of employees and people can work remotely. What's the best way to raise small capital (>$1 Million) for a small startup? I've got my mighty business plan with financials and a solid pitch deck and am ready to sling them. lol Is the best way through Angel Investment? If so, how do you find them? Or do they find you? What makes a small business attractive enough to give them a look? Edit: I already have the product and it's currently in the marketplace. [link] [comments]  |
| Benefits of LLC vs INC - For a CBD Business Posted: 10 Jun 2020 01:30 PM PDT I am having trouble understanding the differences between an LLC and an INC. It seems like with an INC you seem more serious to potential consumers/investors and are able to obtain more tax benefits, while in an LLC its much easier to manage. I will be running the company myself and it is home-based. What do you folks recommend? Go down the route of an LLC or INC? [link] [comments]  |
| Just found out manager is leaving, should I stay or should I go? Posted: 10 Jun 2020 12:55 PM PDT I've been working at a startup for almost 2 years. My manager, who has stuck his neck out for me n numerous occasions and made sure I get pay raises, got me a promotion, etc, is leaving. He called me today to tell me. I'm really sad, we've had a ton of people come and go but this one hurts for me. I was recently promoted to a management position and I see the flaws of our execs and don't feel like we're going to scale. I know this is part of why he's leaving too. I feel like we're going to fall apart as an organization without him. I have experience, and management experience, but never got a bachelors and I am overwhelmed with feeling like I should stay in a not-so-great environment, or probably end up taking a pay cut somewhere else. How do you know when it's time to give up on a startup? [link] [comments]  |
| What is your definition of "Startup"? Posted: 10 Jun 2020 03:49 AM PDT As Aaron Levie, Co-Founder of Box says, "The product that wins is the one that bridges customers to the future, not the one that requires a giant leap." A startup ensures a solution to the problems of a customer that they don't know exist. It bridges the giant leap that customers had to take for themself that could be possibly solved by an innovative idea. A great version by Wil Schorter, Co-founder & CEO of Startups dot com "A startup is the living embodiment of a founder's dream. It represents the journey from concept to reality. It is one of the few times when you can take something that is only a dream and make it a reality, not just for yourself, but for the entire world." And the last by David Weekly, founder of PBWorks, "There is no finish line. So love the journey." It's a never-ending journey. A startup aims to grow. It has no boundaries and no finish line. It aims to be a corporate business and not just stick to being a startup. A startup is about making a change and more than that it's about striving towards achieving a common and sustainable growth for the world. Curious to know how you define startup !!!! [link] [comments]  |
| Finders fee for finding investors Posted: 10 Jun 2020 06:19 AM PDT I work with a lot of VC's and startups and they often want to know each other. I spend a lot of time introducing them and finding out which one would be best. I am thinking of applying a finders fee if anything comes out of my introduction. Is this common? Have you ever done this before? [link] [comments]  |
| An investor added me on Linkedin Posted: 10 Jun 2020 09:17 AM PDT An investor added me on Linkedin Yesterday, I saw an investor added me on linkedin. Is it common for them to add people? I am asking, because we didn't have any common connection or anything, and I thought he is spammer lol. But he looks legit. Is it common or do you also get that kind of invitations in linkedin? (hopefully I exceed the 250 chars limit) [link] [comments]  |
| Posted: 10 Jun 2020 08:57 AM PDT What do you guys think would be an appropriate timeline to build an MVP for an app like TikTok? I'm asking because we are beginning the development stage now and we aren't sure about what deadlines to set. Also, we are going through a validation of the problem we are trying to solve mainly through surveys which take a long time to collect data. Does anyone know any other method (preferably cheap) to collect validation of the idea data fast and in big numbers? [link] [comments]  |
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