Skip to main content

Home/ Edmonton Lean Startup Circle/ Group items tagged Startup idea

Rss Feed Group items tagged

Jas P

Why startups shouldn't have to pay to pitch angel investors | The Jason Calacanis Weblog - 0 views

  • My Latest War: Angels charging startups to pitch ================= Recently, I was made aware of a group of angel investors that were charging startups to pitch them.
  • Yes, you heard that correctly: the rich people (angels) are charging the poor people (startup entrepreneurs desperate for cash to fuel their dreams) to hear their pitch. No, I’m not kidding. This is actually happening — and it’s widespread.
  • None of them have ever charged me a dime for doing so. Why? BECAUSE THEY ARE RICH!
  • ...4 more annotations...
  • It’s low-class, inappropriate and predatory for a rich person to ask an entrepreneur to PAY THEM for 15 minutes of their time. Seriously, what is the cost to the party hearing the pitch? If you answered “nothing” or “the cost of two cups of coffee” you win the prize! Even if you rent a hotel room and put out breakfast for your fellow angel investors that’s like $20 a person. You mean to tell me that a room full of rich investors can’t afford to pay for their own God-damned $20 in bad coffee, stale pastry and stained ballroom rugs? Really?
  • To be clear, I am making this a class war because it is one: cash-poor startups are bringing RICH angel investors an opportunity to become EVEN MORE RICH. As such, the rich folks should pick up the non-existent to minimal costs.
  • Why startups fall for “angel group” payola =========== Now, you ask: why would any self-respecting entrepreneur pay thousands of dollars to rich people just for the opportunity to pitch? Well, the truth is that the more mature — or flat out better — startups would never pay to present. The best ideas by the best entrepreneurs get socialized instantly. As an new angel investor myself, one who has only done two investments of $25,000 and $50,000, I can tell you that I already get flooded with pitches. I can’t even imagine the volume of pitches real angel investors like Matt Coffin, Sandy Climan, Sky Dayton, Tony Hsieh and Ron Conway get inundated with.
  • c) you are actually a good person who has just never thought about how smarmy it is to charge a startup for your time?
Jas P

Stop Trying to Protect Your Business Ideas - NYTimes.com - 0 views

  • Your Idea Already Exists: There are very few truly new ideas. Most ideas are an improvement or a different take on an existing idea. Regardless of how much is new, the chances are that if you have thought of it, others have as well.
  • Being New Can Be a Problem: If you have a truly new idea, you are in many ways at a disadvantage. Being first to market means you have to educate consumers, and that can be expensive.
  • The Value Is Not in the Idea: The competitive landscape is very different than it was 30 years ago, back when ideas had some merit on their own. Now, there are so many businesses out there, and so much information, that an idea by itself is worth zero.
Jas P

Nobody's going to steal your idea - 0 views

  • I think Howard Aiken got it right: Don’t worry about people stealing your ideas. If your ideas are any good, you’ll have to ram them down people’s throats.
  • One thing I’ve learned from developing software is that it’s very difficult to transfer ideas. A lot of software projects never completely transition from the original author because no one else really understands what’s going on.
  • And when other people do have your idea, they still have to implement it. That’s the hard part. We all have more ideas than we can carry out. The chance that someone else will have your idea and have the determination to execute it is tiny.
Jas P

Start something small - 0 views

  • I prepared a short talk. I called it ‘How to Win Friends and Influence People.’ I say ‘short.’ It was short in the beginning, but it soon expanded to a lecture that consumed one hour and thirty minutes.
  • Here’s how the now famous book became a reality: we started with a set of rules printed on a card no larger than a postcard. The next season we printed a larger card, then a leaflet, then a series of booklets, each one expanding in size and scope. After fifteen years of experimentation and research came this book.
  • What I’m starting to notice more and more, is that great things almost always start small.
  • ...2 more annotations...
  • I find similarly that some of the most important achievements I’ve made started as little projects.
  • I was pleasantly surprised when Paul Graham wrote a comment in the discussion on my recent article which suggested similar: Don’t even try to build startups. That’s premature optimization. Just build things that seem interesting. The average undergraduate hacker is more likely to discover good startup ideas that way than by making a conscious effort to work on projects that are supposed to be startups.
Jas P

How to Get Startup Ideas - 0 views

  • I made it myself. In 1995 I started a company to put art galleries online. But galleries didn't want to be online. It's not how the art business works.
Jas P

Vinod Khosla: "I Feel Sad Sometimes For Y Combinator Companies That Get So Much Hype" |... - 0 views

  • Khosla wasn’t trying to defame Y Combinator, noting “There’s plenty of smart teams out of YC that we fund.” But he stressed that heavily prepared presentations can backfire. “Too much of the polish of the five slide deck” distracts a team and can repel mentors like him. For a startup that believes it has a great idea, the next thing they need is great execution, and that requires an all-star team and savvy strategy — elements that the right angel or VC firm can offer. A pumped-up valuation might help the founders retain more equity, but that doesn’t matter without success.
  • If your idea is risky, but with a huge upside that isn’t valued too high, you can gain the support of people like Vinod and his Khosla Ventures. ”I spend most of my time recruiting for my companies. Once you hire the wrong people… it’s really hard to get a company back on track.”
Jas P

Reaching the Startup Holy Grail: Product-Market Fit | Michael Karnjanaprakorn - 0 views

  • Product/market fit means being in a good market with a product that can satisfy that market. You can always feel when product/market fit isn’t happening. The customers aren’t quite getting value out of the product, word of mouth isn’t spreading, usage isn’t growing that fast, press reviews are kind of “blah”, the sales cycle takes too long, and lots of deals never close. And you can always feel product/market fit when it’s happening. The customers are buying the product just as fast as you can make it — or usage is growing just as fast as you can add more servers. Money from customers is piling up in your company checking account.
Jas P

The Classy Way To Get Media Coverage For Your Startup - 0 views

  • The best will be in contact all the time (or at least well before they have a news story to pitch) in an attempt to figure out how to maximize the chances of something being picked up. It’s a wonder there aren’t more of them.
  • Sadly there aren’t and 80 - 90 percent of pitches I received followed the tired format of "Hi X, Company Y is launching a product next week and we thought it would be of interest to publication Z."
  • So here's an idea to try when getting media coverage for your startup - don't start by pitching the product. Start by pitching nothing.Clearly showing that you understand that a journalist doesn't just exist to publicize you is one of the fastest routes to his or her heart.
  • ...2 more annotations...
  • The closest relationships journalists build are with people who can provide long-term value to them by offering something that isn't just self-promotion. Conversely, these tend to be the names you see cropping up again and again in the media.
  • Comment Having a network of people to offer opinion and analysis is critical for most journalists and it's a great way of getting your name out there, even when you don't have any news. So make sure your media contacts know who you are and what you're qualified to talk about by introducing yourself with a short biography and an offer to help.
Jas P

Distribution Hacks - 0 views

  • “Hi Elle, what’s the angle?”
  • “Arbitrage on parsing shipping data,” I reply. “Well, everyone has an angle.”
  • My Dad explained that hedge funds are truly a dime-a-dozen in the finance world, not dissimilar from angel investors.
  • ...9 more annotations...
  • Then he said the thing that was THE THING: You can do a hedge fund anytime, why do it now? Well thanks Dad, for the vote of confidence (more like “holy fuck you think I could raise hundreds of millions of dollars in this economy!?”), but what do I do with that?
  • He continued to explain that creating a hedge fund, or any kind of fund, was something i should be thinking about in my 40s or 50s when I wanted a more traditional role in finance with a lower risk/reward profile.
  • My family is upper middle class, but as service providers to the very wealthy I’ve learned some valuable things about money, at a much younger age than I otherwise would.
  • It has changed how I approach people with money, for better or for worse. I expect this will have an interesting impact on my ability to raise funding for my company (and I’m not saying all positive here):
  • “Yes but what do we sell?”
  • “We sell trust, honey,” he smiles. “We’re honest people just like the steel workers, union laborers, and employees these companies serve. We help them keep their promises.”
  • A series of deaths in my family in the past couple years have made me more aware of mortality than I ever was before. My Dad pointed out, as we discussed the hedge fund business, that it was something I could do without actually leaving a chair. Move to New York, get a Blackberry, iPhone and 3-line desk phone and I could operate from anywhere.
  • But I would never be able to recapture, at 50, the energy of being 25. My Dad had me when he was 28. To him, I am so early in my life (I’m 27 now… this post reflects on a convo 2 years ago).
  • Staring down Demo Day, I hold this conversation in my mind. Have some balls, Elle. I’m pretty sure that’s what he was trying to say.
Jas P

Sean Ellis on creating a sustainable growth program via Sandi MacPherson - QUIBB - 0 views

  • Behind the term 'growth hacking'The concept for growth hacking grew out of the fact that most startups fail, and needing to not fail. When you think about games, the market is filled with large companies with lots of money to throw into marketing. Sean summed this need up well, with: When you're competing against Sony, you can't go dollar for dollar
  • 2. A Must-Have Experience Sean focused on the importance of a Must-Have Experience (MHX) - you must have a hook that clearly identifies what this is.
  • 3. Uncovering your MHXTo get a clear understanding of what your MHX is, Sean suggested reaching out to your Must Have Users (MHUs)… but what is a MHU?
  • ...4 more annotations...
  • Sean likes using a pop-up or other survey tool to ask people 'How disappointed would you be if [your product] wasn't available anymore?' on a scale ranging from 'not at all disappointed' to 'extremely disappointed' to identify your MHUs (they'll answer very or extremely disappointed).
  • You can ask these identified MHUs 'What is the primary benefit you receive from [your product]' (as an open-ended question to start, then after getting ~30 responses, you should be able to narrow it down to 3 multiple choice answers).
  • 4. Getting people to your MHXOnce you understand your MHX, you can then maximize the percentage of people that reach this point. This means identifying points of friction and reducing that friction (Sean suggested watching people use your product, and then A/B testing based on insights gained), focus on what a real conversion looks like, building channels to increase user habits/increase revenues/drive sales/etc., and understand intent by A/B testing your messaging and hooks. You need to obsessively optimize everything that is part of this newly formed growth engine.
  • You need to engage with your users, and take those insights to come up with new, breakthrough ideas.
Jas P

Must-read for founders: A VC explains how to build a killer value proposition | Venture... - 0 views

  • In its simplest terms, a value proposition is a positioning statement that describes for whom you do what uniquely well. It describes your target buyer, the problem you solve, and why you’re distinctly better than the alternatives. One of the classic mistakes of building a value proposition is diving headlong into the solution definition phase before really understanding the problem you’re looking to solve. To understand whether it’s a problem worth solving, I recommend exercising four U’s: Is the problem unworkable? Does your solution fix a broken business process where there are real, measureable consequences to inaction? Is fixing the problem unavoidable? Is it driven by a mandate with implications associated with governance or regulatory control? For example, is it driven by a fundamental requirement for accounting or compliance? Is the problem urgent? Is it one of the top three priorities? In selling to enterprises, you’ll find it hard to command the attention and resources to get a deal done if you fall below this line. Is the problem underserved? Is there a conspicuous absence of valid solutions to the problem you’re looking to solve? Focus where there’s whitespace, not scorched earth.
Jas P

Vinod Khosla Of Khosla Ventures: It's Not About Funding The Company, It's About Helping... - 0 views

  • Khosla is very passionate about assisting his companies with recruiting, even suggesting that talented folks send him their resume.
  • Khosla went on to discuss what happens when you hire the wrong people, and he says that it’s hard to get a team back on track once those mistakes are made early on. I spend most of my time recruiting for my companies. You hire the first 15 people and they hire the rest.
  • Not only is it about hiring the “right” people, but as Khosla has said here on TechCrunch before, you don’t have to be a jerk to be successful. Finding the right spot for someone in a company is key: If people aren’t performing, put them in the another job where they can perform or fire them.
  • ...2 more annotations...
  • Disruption is key as well, as some of Khosla’s portfolio companies have taken on the biggest and most difficult problems in the world. On Khosla’s investment on payment service Square: If you said to someone three years ago that you could compete against PayPal, most people would say that’s a crazy idea, payments are done.
  • Some of the new things that Khosla’s firm is getting into is the consumerization of healthcare, and he has discussed some of the new companies he’s investing in, including smart chips and apps that help you track your vital signs. At the end of the day, Vinod Khosla doesn’t even like to refer to himself as a venture capitalist: I don’t consider myself a VC, I consider myself a mentor.
1 - 14 of 14
Showing 20 items per page