Startups Building 12 startups in 12 months for 2021 |
- Building 12 startups in 12 months for 2021
- Founders, VC funding won’t save you
- Are all new tech companies startups?
- Input on Starting a Cyber Insurance Company
- Can you guys share some inexpensive ways to conduct surveys and recruit users for early stage user research?
- You DON’T NEED complexity
- The Bartering Market
- CEOs - be less boring in panels and podcasts
- Is design / usability a big enough incentive?
- Collecting Data about Competition
- Very Early Startup
- I’ve created a landing page for my software product (that doesn’t exist yet). What do I do now?
- Equity with partial salary, how much is it worth?
| Building 12 startups in 12 months for 2021 Posted: 06 Jan 2021 02:22 AM PST Hey guys, I'm doing this challenge made famous by Peter Levels a fews ago, where I have to build a startup every month for 2021. I guess startup is probably an exaggeration, it will most likely be many prototypes but I'm super excited to build lots of ideas. I'm a programmer by day but might also try building some physical products although I have very little experience. If you have any suggestions on Physical things to build I would love to hear them! If you want to follow along, I just posted an Intro video. Isaac [link] [comments]  |
| Founders, VC funding won’t save you Posted: 05 Jan 2021 03:35 AM PST A few weeks ago I made a silly Twitter joke about starting a fund that invests $300 to make you a unicorn. 99.99% of the readers got it. A couple dozen people who showed up in my DMs and pitched me seriously did not. At some point I even asked what they'd do with $300 and one guy said "maybe buy a ticket to an investor meeting". This isn't good. Not only because it reeks of desperation, but because it signifies a fundamental misunderstanding of venture capital funding and how to use it. I see two reasons for this misunderstanding: founders internalizing the constructed narrative around VC funding as the panacea for tech startups, and VC partners' branding as enlightened king makers. Both are wrong. Not enough people talk about VC funding being a tool in a tool box, and those who do often talk their niche position rather than make a general argument on how companies can grow. Companies flush with cash also tend to make a lot of noise (then mostly die with a whimper) on "tech blogs", the startup world's Instagram. In addition, many founders have been mostly in school, where you study in a constrained system and get graded by someone, so the North Star metric of funds raised seems appealing. This is insane. It creates crazy situations. I don't talk to many early stage founders and I've already come across people who are trying to raise millions to fund products that 1000 users could pay for. A two-digit team with only one developer and no one else even learning to code. A team of "business founders" unable to recruit a single developer, raising money to employ contractors. If this sounds like your company, stop raising right now. You're already failing, and if by miracle you manage to raise funding you'll just fail slower. The other issue is the VC narrative. Most VC partners are smart and talented people who mean well and try to do right by everyone. They are also virtually indistinguishable; much like buyout firms correctly think every technology company tastes like chicken (Robert Smith WSJ story, google it), most VC funds are commoditized agents, pulling money from common resources and deploying it into an undifferentiated deal flow. As commoditized agents do, they invest a lot of time in branding, focusing on outsized successes (infrequent) and conveniently tucking away failures (the norm). Founders fall in that trap like many others do, and hope to be the next anointed genius, talking about "investors who can help us" with starry eyed devotion. It doesn't last. VCs usually can't really help you. It is not the VC's fault and they're not the bad people here. It's just reality. If you're starting a company, especially if doing so for the first time, you owe it to yourself to understand all the tools available to you. You have to think clearly what success means, and plan accordingly. See yourself, investors, customers and other players for what they are – imperfect players playing a game. Don't lose yourself in it. [link] [comments]  |
| Are all new tech companies startups? Posted: 05 Jan 2021 08:46 PM PST If not, what would be an example of a new tech company that isn't a startup? Maybe a tech related consulting business? That's all I can think of. I am aware that software is uniquely able to grow very rapidly and that is why investors pump so much money in them What are the pros and cons of building a tech startup vs. a tech company that isn't a startup? [link] [comments]  |
| Input on Starting a Cyber Insurance Company Posted: 05 Jan 2021 08:43 PM PST Hi all, I am researching the prospect of starting a cyber insurance company, and would love to hear from anyone who has experience dealing with cyber insurance in any way. I am finishing my master's in cyber security, and have previous experience working in another type of insurance. I understand cyber insurance is a VERY different animal, though. I also have a background in actuarial and accounting work, in addition to my more recent technical and cyber security experience. This is what initially drew my interest to cyber insurance. Any input or thoughts you might share would be so appreciated. Thank you! Tl;dr: What are your thoughts/experiences regarding cyber insurance and the industry? [link] [comments]  |
| Posted: 05 Jan 2021 11:11 PM PST I have been trying to conduct surveys among pickup games enthusiasts but am finding it hard to engage them through facebook communities. I am even running ads on Facebook to recruit users for surveys. Is there other cheaper ways to do this and engage people? [link] [comments]  |
| Posted: 06 Jan 2021 02:58 AM PST You DON'T NEED complexity, funnels, or ads to scale your company to multi-five figures! You just need to talk to customers 1-on-1! There's this massive misconception that I feel we have in digital marketing about what it takes to land your first few customers and scale beyond 5-figures a month. People always say:
When people say that to me, they are either one of two things. One, they are ALREADY at $100k a month and the complexity makes sense because they are running a sophisticated business with an abundance of prospects, clients, and offers. TWO, it's a noobie entrepreneur whose broke as f*** whose just repeating sh*t they heard on some podcast somewhere with zero practical experience. Listen you guys, if you're starting out, YOU CAN'T BE RUSSELL BRUNSON. You CAN'T TRY to be Neil Patel. Sophisticated brands and entrepreneurs have sophisticated backends. But if you're pre-$10k, you are not a sophisticated company! And adding complexity not only doesn't work, it will destroy you because now you're adding steps and friction into a process that doesn't need to be there (which prospects hate). Not to mention, it's gonna take more tech skill (which you probably lack), time (which will be discouraging), money (ya, you don't have that either). All of which will kill your momentum, make it hard for you to get off the ground, and near impossible to land customers. So what should you do instead? It's simple, talk to your prospects 1 on 1.For example.. Back when I was in college, I ran a window cleaning company to pay off tuition. You know how I managed to earn $70,000 over those 2 summers? I straight up knocked on people's doors, every day. They opened the door, had a conversation with him, sold them then and there, and it was done. That was my funnel. When you're starting out, it doesn't need to be more complicated than that! Just go talk to people and sell them! How does this work building an online business?It's not hard. Pick your channel, be it IG, Facebook, Linkedin, or email (based off where you think your audience spends time). Find your prospects on that particular channel. Then approach them with a message and try to start a convo! Do this 100x a day, and you'll see a fraction respond. Then from there, a fraction will jump on a sales call. And finally, a fraction of that will buy. Sounds too simple? Well, that should make you happy, it is simple. However, even with this framework, a lot of people still run into obstacles. Here are some additional things that you should do make things easier for yourself with your organic marketing & outreach
There you go. Business can be very simple. We got to our first $20k a month ONLY DOING THIS. Of course, NOW we have funnels, webinars, chatbots, and will be doing paid ads soon… But we only added that complexity after we built the foundation of our business doing this. Keep things simple, and you'll not only build a better business, but you'll be less overwhelmed and stressed. Good luck! [link] [comments]  |
| Posted: 06 Jan 2021 02:18 AM PST The Bartering MarketWe really want to start the bartering market due to the fact that the distribution of goods, services, and items can reach those that can't afford it. We believe that because the global community is becoming more aware of sustainability, preservation, and cooperation, the ideas and notions of how we live today and function as society has changed. People are now much more aware and concerned about how much we consume, climate change, and using certain things like plastic. The way that we live and interact now is much different then it was 20 - 30 years ago, and it will be ike thins for the coming generations. A very good example is UBER, PATREON, CROWD FUNDING, AIR BNB, ONLINE EDUCATION, REMOTE JOBS, FIVER etc where people are performing services for very little cost, or free and only accept donations. The idea of money has changed. Do I attach the value to the currency that I have or do I attach it to the item or the service that I can obtain and acquire. A very good example of this is the music, movie, book, and printing industry today. All of it is basically for free today. You can download it, stream it, or pirate it. All the people are asking for is your donation and exposing their services and talent to the world. No one makes money making music anymore like they did during the golden age of MTV ( you know what I am talking about ). Today, MTV does not exist anymore, but people are still making music. YOUTUBE and TWITCH is another good example where the majority of people only accept donations, either via Youtube or Patreon. So what has changed? The way that people perceive and understand value, and what to do with it. The world has changed so much in just 20 years, that it is unbelievable to think that we had CD players in our cars, but nobody produces CD's anymore, or nobody goes to the shop to rent movies anymore. The bartering system will be that " on & instant demand " for people who need to acquire certain things because they don't have the finances to do so. And those that have the finances will benefit from it because they can acquire certain things cheaper. It is a different way to think about money. It is a way that we can show each other that we care about our world, humanity, and our future.
The finances to pay for the rent of the property will come from the entry fee that people pay when they enter the market, and when vendors wish to rent a plot in order to trade their products. Also we have online support platform like PAYPAL and PATREON. Hopefully, this should be enough to cover the rent of the property per month. The money that is made will be used for the rent of the property, advertising, and paying our employees.
Having a bartering system will help people that don't have money or employment to acquire certain goods and things that they need. People that are unemployed or lack financial security are still able to grow, make and create certain things so that it can be traded for something important. By creating a bartering economy inside a financial or currency driven economy, people who don't have any finances can acquire certain things for their families that are useful or important, where it is through performances and entertainment, fixing things, or trading goods. For those that are employed and have finances, taking part in the bartering will also be beneficial, due to the fact that certain items and goods can be acquired for a lot cheaper. The value of the products will not be measured using currency, but will be measured using items that are used daily. Therefor the psychology and the importance of the product also changes. You will never buy a large wooden figure being sold on the side of the road, but you will trade it for something else much easier.
The main issue that will occur is if a person wishes to acquire a certain item, but does not have anything of value or interest for the other person.. This is the main problem, but as History has pointed out many times, people will overcome their problems and figure out what to do. I am sure that people are competent and capable and will solve their own problems. This is how humanity has survived throughout the ages. Take care and stay safe All the best for you and your family in 2021 Richard Rix [rjerix@gmail.com](mailto:rjerix@gmail.com) [link] [comments]  |
| CEOs - be less boring in panels and podcasts Posted: 05 Jan 2021 03:32 AM PST Content rules. Conference panels are a fixture in the life of a CEO, whether in virtual or in-person. Podcasts are more popular than ever. How do you keep getting invited to those and keep people in the room and not out in the proverbial (or literal) corridor? These are my tips. Prepare. Maybe 1% of us can wing it and it's safer to assume it's not you. I've been able to rock panels with high powered CEOs because they didn't bother to read the list of questions. Prepare, find your angle for each question and for follow up questions, propose questions that serve you if there aren't any or the moderator invites you to. Entertain. Many people think panels are an opportunity to pontificate. They are not: the crowd is there to be informed and entertained. Reframe a common thought, offer a framework, or just point a topic not many discuss and explain how it's relevant to your audience. Serve your crowd's expectations, cut down on monologues, and try to be least interesting. If you get them to engage, they will remember you. Repeat. You're not a standup comic giving the same routine twice a night for months. You don't need 100% fresh material every time. Repetition leads to mastery and gets the message across. You may be tired of it but your crowd isn't (unless, see above, you're a boring lecturer). Don't try to reinvent your messaging every time — repeat your best ideas in the same way. Here's to a less boring 2021. I'm still going to listen to all of you at 1.5X speed and I suggest you do the same with me. [link] [comments]  |
| Is design / usability a big enough incentive? Posted: 05 Jan 2021 06:20 PM PST I am considering diving into the realm of producing software for car dealerships. Specifically, CRMs (customer management tools, essentially). I've partnered with a friend who is current dealership employee and together we're discussing improvements features wise. Our biggest draw will most likely be the design we implement. Most current CRM software (major players in this scene: ELeads, Vinsolutions, for anyone interested) is designed as if it was last updated in the 2000s. Which...to be fair is mostly the case. But i digress. Point is, it will not be hard to modernize the designs and workflows in the system, and with more attention put towards it, we could make quite a nice looking system. However, in any realistic scenario, can it be enough? Retaining the same market features, and essentially just updating the skin that the CRM is presented through. [link] [comments]  |
| Collecting Data about Competition Posted: 05 Jan 2021 05:33 AM PST Two questions here: 1) What are red lines, aka what am I certainly not allowed to do to collect data from competitors? E.g. am I allowed to pretend to be a customer? 2) What have been good ways for you to collect information to learn from competition? We are building a tech product, thus I am curious about deeper going insights about the underlying tech. [link] [comments]  |
| Posted: 05 Jan 2021 12:52 PM PST I don't know if this is the best place to post a question like this (and if it isn't I would appreciate being directed to a more relevant sub), but, to make a long story short, I invented and patented a product, incorporated, and created a (very rough) prototype, and I'm kind of at a loss on how to proceed. Obviously the next step is raising money somehow, but it doesn't seem like anyone is willing to invest at this current stage. As I mentioned I have a very rough prototype that proves the functionality of my invention but it's nothing like what the final product would be so I need a looks-like prototype developed professionally. I researched and contacted a few places that I believe can accomplish this, but they all require a large amount of money (tens to potentially hundreds of thousands) and can't even give me a definitive estimate in most cases. I obviously don't have that kind of capital myself or I would have invested it already, but I'm not sure how to find someone willing to invest at this stage or how to approach them, or even if that's truly my next step. Moreover, I'm an idea guy and designer, not a business person, so I'm probably going to want to look for a business partner (who I'll likely have to fork over some equity to). Are there investors out there who are also willing to take over the business side of their investments or is that generally not a common practice? It's a shame, because I have a really great product that has entirely unique functionality (there's nothing else like it on the market) so it has a lot of potential, but I just have no idea where to go next. P.S. I can't do a Kickstarter or anything like that because it's a marijuana product. [link] [comments]  |
| I’ve created a landing page for my software product (that doesn’t exist yet). What do I do now? Posted: 04 Jan 2021 11:21 PM PST I have create a landing page to test the validity of the product I want to create, how do I drive traffic to it? It's a software for companies, nothing fancy, no new Instagram, no new Dropbox. Just a modern alternative to clunky old software that is in the industry. Do you think writing about it on Twitter would make any sense? (Since it's a software for companies, so nothing that the user would be thrilled about). Do you think I should pay for traffic? Do you have any tip on how to proceed now? [link] [comments]  |
| Equity with partial salary, how much is it worth? Posted: 05 Jan 2021 04:53 AM PST If my current salary is market rate for my position, e.g. $100 a month, and I start working for a startup on the same position for $30, is the money I am not earning ($70), which is then considered as investment, worth $70, or more, considering the risk? [link] [comments]  |
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