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
- Here is what your idea is worth.
- Has anyone has success reaching out cold to investors on AngelList?
- Startup success framework: a checklist of all the "stuff" that happens in startups, from launch to exit.
- Does anybody else wish idea validation and customer discovery was easier?
- I don't have enough confidence to build my product...but I know I have the skills
- How to cheer up my team during the lockdown?
- How to grow a website that depends on user submission?
- Liberal Gaming StartUp seeking for investment / partners!
- How can I get in contact with product advertisers/manufacturers regarding a product listing service?
- What are the different challenges for startups in the US vs Europe?
- How do I get feedback?
- Don’t let your development phase deter you from pursuing funding
- Am I filling out my financial projections correctly?
- How to really start my own thing?
- Minimum Ad Budget for Idea Validation
- Question regarding a start up due to curiosity.
- Normal price for a sample from Alibaba to the Netherlands
| Wednesday Social Club - Share What Events You Are Attending This Coming Week Posted: 04 Nov 2020 05:06 AM PST 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]  |
| Here is what your idea is worth. Posted: 04 Nov 2020 10:28 PM PST What follows is a rant that is not directed at anyone in particular, just something I want to say to at least 50 people a year who pitch me on their "big idea" because they think I can help them. I have been fortunate enough to be involved with a couple of startups that went on to achieve unlikely outcomes. I don't ever have to work again. I'm the guy you know: your friend of a friend, your cousin, your previous coworker. The guy that got rich from his "app". I have been fortunate enough to participate in the process as a low level employee, a CEO, an investor and a founder. I have been a part of 2 acquisitions in excess of $200M by public companies, in ventures that I started or joined when they were napkin sketches. In both consumer and b2b, all have been in software (or "apps"). Companies you have heard of. I have authored 7 patents that have been issued by the USPTO, and I can tell you these have almost nothing to do with the financial outcomes I have been fortunate enough to be a part of. Of the 30+ "ideas" that I have poured untold hours and (investors) money in to, only maybe 5 have created any kind of return. Edit: this is a shocking understatement, as I think about it I have been a part of launching at least 70 apps on the app stores. A couple got traction. The rest, in hindsight, bombed. Millions of dollars burned and tens of thousands of hours - no regrets, the wisdom I have gained is as much from the failures as the successes. I derived a ton of value from what I learned in the process of trying to execute them as well as I could. While I have been successful by most standards (I am 43 and worth $20M+), I have been a part of raising and burning at least $500M of investor money. Maybe $50M of that got it back (and then some), around $20M of it got a 10-30x return. The rest was lost to the brutal landscape of the marketplace. I'm sharing this because every month I take the time to hear 3-5 "big ideas" from people who think that if I hear about their magical "precious" I will be astonished and be dying to help them build it and get rich. "If you want to help me with this I'll cut you in on it" they say. Get the fuck outta here! You think I don't have 10 precious ideas of my own that I lack the conviction or time to execute - but at least have done the nominal vetting to have a belief in? Come on man! In most cases the "inventor" ends up disappointed with my feedback, and while I realize I could be better at how I give it, there are some consistent themes that reflect a broad misunderstanding of how ideas translate into generational wealth. I hope this is helpful and please do not take it personally. Hear me now and believe me later. — Here Is What Your Idea Is Worth — Zero. Less than zero, actually, because the minimal time needed to be spent in order to some basic research to validate it, which you haven't even begun, costs money. I know your idea is precious. I know this because I have my own precious ideas. I know this because I know the feeling I got from buying my first powerball ticket. In spite of being very fluent with the math I spent all afternoon thinking about what would happen if I won. After 3 hours of fantasizing it seemed plausible. And this is so much more than a powerball ticket - it's your genius idea! And you've been "working" on this idea for years! If only you had the time, you've got your day job, your car payment, a new kid, etc. Life gets in the way. I'm truly sorry. It really isn't. You carry it around like some kind of magic security blanket that is just a few simple steps away from making you rich. The "feedback" you've gotten is bullshit. Your friends and family love you: of course they are going to tell you it's great: they would definitely use it, pay for it, invest in it, etc. Important: there are also ten billion dollar plus industries who profit from encouraging you to pursue your idea. Lawyers. Software dev agencies. Invention websites. Even the USPTO is funded mainly from guys like you trademarking and patenting your ideas before there is any indication that a business could be built based on them. In the course of over a billion dollars of fundraising and M&A that I have been party to, trademarks and patents have meant next to nothing. Your mileage may vary, but be advised that service providers and "advisors" work for cash and thus are incentivized to encourage you to pursue your idea with little scrutiny. Ask them to work for equity and see what happens. If they are credible, and they will work for equity, you might be on to something. Or they are inexperienced. The ads from "inventor websites" you see on TV are predatory; this is not how ideas translate to money, they thrive on taking your savings in exchange for telling you your idea is great and they will help protect it. Please know: when you are secretive about your idea, when you ask me to sign an NDA, when you insist that your idea is worth anything at all; it tells me you are an amateur. I will not steal your stupid idea. The main, most basic flaws I come across fit into a few categories:
—- Look, I get it. Life is hard - having a pet idea makes it more bearable. Just like having a lottery ticket. Just don't delude yourself. The market is incredibly vast and competitive - if the idea you have is such a slam dunk, it would have already been done: You want to protect your pet idea so you can have some vague hope? That's cool, I'm guilty too. Just don't bring it to me and not expect me to apply the lens above to it. If you don't have good answers to the above questions then you aren't serious and you are wasting your time and mine. Be honest with yourself: is your idea a precious token that allows you to imagine being rich and important? Would it be really cool to be the person that came up with it? I get it. Just don't confuse that with an actual premise for a business. Not sure? Go become a deep expert in something and figure out a way to solve a problem in that domain. You'll know you're a deep expert when people seek out your opinion on it. Until then it is fine if you want to keep deluding yourself with your pet rock, just stop wasting everyone's time talking about it and for the love of god do not waste your hard earned time and money on it. [link] [comments]  |
| Has anyone has success reaching out cold to investors on AngelList? Posted: 04 Nov 2020 04:58 PM PST I'm getting to the point where I need a small amount (~$20k) for the next few months and I'm willing to give up a chunk of my non-revenue generating company for it. I'm going to go the traditional seed and angel group route but was wondering if anyone had any success with AngelList. Thanks. [link] [comments]  |
| Posted: 04 Nov 2020 05:08 AM PST 1. LAUNCH
2. PLANNING
3. PRODUCT
4. CUSTOMERS
5. OPERATIONS
6. PEOPLE
7. SCALE
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| Does anybody else wish idea validation and customer discovery was easier? Posted: 04 Nov 2020 08:22 PM PST It seems hard to find unbiased people interested in talking about a startup idea. I've spent lot of time and effort finding communities that are relevant to my business that have more than 2 or 3 people who are willing to start a discussion. Am I just bad at networking or have other people experienced similar things? [link] [comments]  |
| I don't have enough confidence to build my product...but I know I have the skills Posted: 04 Nov 2020 11:29 PM PST Hi everyone, I've een struggling recently with a sense of 'I am not good enough to code this...' even though I know I have already built about 50% of the platform my customers want me to build. I think it is simple imposter syndrome, anyone else experience this or have any tips on overcoming it? Thanks😀 [link] [comments]  |
| How to cheer up my team during the lockdown? Posted: 04 Nov 2020 03:03 AM PST Hi everyone, Our startup is located in France and we are experiencing the lockdown again. So now, as it is the second time, our team is ready to adapt quickly. Even if the first lockdown was pretty tough, it made us realise how much we are proud of our team! To be honest, we were afraid that team members could loose motivation and corporate spirit. But we were impressed by how they did move forward and collaborate with each other. However, sometimes creating some nice team moments remains challenging when we are apart from each other. Do you have some advices to keep cheering up our employees, even with the distance? Thanks! [link] [comments]  |
| How to grow a website that depends on user submission? Posted: 04 Nov 2020 07:26 PM PST I've created a website that depends on user-generated content. My issue (as I imagine is the issue with most startups) is that I'm having a lot of trouble gathering interest. I have practically no budget for advertisement so I've been depending on Instagram and Reddit posts to garner interest but it's difficult to do so while staying in most subs' guidelines. We're also currently running a contest with (small) monetary rewards for the best answers to a select few prompts but it's not gaining traction. How do you guys suggest I go about growing my user base? The website isn't a social media in the traditional sense, it's more content centric than user centric. Think Reddit vs Instagram in the way that content is king here (generally) whereas personality is king on Instagram. We're more of a Reddit. I can send you my website individually if you'd like, I'm not sure if it's ok to post the link in my post itself. Thanks in advance. [link] [comments]  |
| Liberal Gaming StartUp seeking for investment / partners! Posted: 04 Nov 2020 11:41 PM PST Hello, I am the founder of innovative Gaming StartUp which has huge social and health applications. It helps online multiplayer gamers to find true friends based on their real life preferences. App for Android and iOS is fully finished and functional. We are seeking for pre-seed investment approval in amount of 100k (but investor can invest much smaller amount of 10k and if he/she doesn't like the first results can stop investment anytime + many other cool benefits). If there is anyone interested to hear more or willing to help, I will be very thankful! (we are based in EU) [link] [comments]  |
| How can I get in contact with product advertisers/manufacturers regarding a product listing service? Posted: 04 Nov 2020 11:12 PM PST I am building a consumer product information database to provide consumers with authentic information and a consistent product lookup experience. I would like to work with product advertisers/manufacturers directly on this, but cold emails are not effective. Any tips on how to reach out to them more efficiently? On a side note, the database is currently for products available in the US only. Thanks in advance. [link] [comments]  |
| What are the different challenges for startups in the US vs Europe? Posted: 04 Nov 2020 02:32 PM PST I'm interested in learning about what the challenges would be to build a small biotech startup company in Berlin, Germany vs the Bay Area. I'm currently based in the Bay Area, where Biotech startups abound... Primarily... how difficult is it to secure a space/ initial funding resources? Biotech is very resource heavy, particularly at the outset. How flexible are the models allowed in Germany given their particular work regulations? Do employers pay for vacation time/parental leave/healthcare? Are there collective models where high pay in a company is tied to the lowest paid worker? Apologies for my question being super broad, but any thoughts would be appreciated. [link] [comments]  |
| Posted: 04 Nov 2020 06:17 PM PST I know one of the most important parts of a startup is getting accurate feedback to validate and improve your business. How do people get feedback from their target market before they have customers without having to pay a ton of money for a survey service? [link] [comments]  |
| Don’t let your development phase deter you from pursuing funding Posted: 04 Nov 2020 12:48 PM PST My team and I are developing a B2B2C marketplace application for the tourism industry with the MVP launching early next year. We are pre revenue, and our product is in an alpha stage. With that in mind, we thought it was far too early to seek investment, and in reality, it still is. However, seeking investment can do more than just put money in your pocket. On top of the various B2B and consumer conversations we have had for establishing connections and contracts, us reaching out put our product in the eyes of those we will come to soon enough. Every firm and angel that has gotten back to us and spoken with us has absolutely loved the product, validated its existence, stayed in contact with us, and then some. The feedback they have given us has catapulted us in a different way than funding would've. Sure, the funding would've been fantastic, and it would've helped in many, many ways. However, the connections and mentorship that have instead been put in place may very well be just as valuable and can most certainly turn to funding down the road. Don't be scared to reach out to people. Those connections can change everything. [link] [comments]  |
| Am I filling out my financial projections correctly? Posted: 04 Nov 2020 06:36 PM PST I have an app-based company that is pre-revenue and will launch around February of next year. I'm filling out financial projections because we're looking for investors to help with marketing costs. Because it's pre-revenue, it's difficult to estimate the financials. I'm pretty much starting with a small number in February and growing that number by between 15% and 50% a month depending on when I think we will see the highest growth and when we will expand (for example, I projected 50% growth for December because it's Christmas). I'm skeptical because at the end of year two I have projected around $2.8M in revenue, which I can see being a possibility with the right execution, but am worried it may confuse investors. Am I doing this right? [link] [comments]  |
| How to really start my own thing? Posted: 04 Nov 2020 11:14 AM PST I have been having side projects since I can remember and for ages that I am saying that I want to start my own project. I want to finally take the leap. What is your advice? Where should I start? A couple of further questions are: My background is in the web/software development area... [link] [comments]  |
| Minimum Ad Budget for Idea Validation Posted: 04 Nov 2020 05:30 AM PST I'm looking to get a grasp into how much I need to spend on Facebook ads to get a good grasp of whether my ecommerce b2c shop idea is valid. I don't have a checkout, just a email sign up hidden behind a "buy now" button. I'm looking to measure the CPI for Ads and conversions (sign ups) to identify customer interest. Anyone had experience with this? [link] [comments]  |
| Question regarding a start up due to curiosity. Posted: 04 Nov 2020 01:09 PM PST I am currently watching a tv show thats based on the concept of a start up. because of it, i started to get questions from curiosity. I was wondering if anyone can answer them for me.
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| Normal price for a sample from Alibaba to the Netherlands Posted: 04 Nov 2020 04:24 AM PST I have had contact with multiple sellers, a few seemed ligit and one the cheapest. I want to get a sample from the cheapest seller and he says that the shipping cost are 44usd. Is it really that exspensife? or are they keeping the price low and charging it back in shipping cost? The product itself it 1 dollar! It's a very simpel plastic product. You can compare the volume and weight of a phone case with it. [link] [comments]  |
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