In your own words, "the ideatostartup is kind of a crash course". What exactly does that mean? A start-Up should be a well thought out process although it is a learning curve but not one where the founder decides to take a crash course just because an idea pop up. Do you stick around after the 40 days or just move unto the next one?
By "the ideatostartup is kind of a crash course" , we mean that ideatostartup will take you from idea to startup within those 40 days. Within those 40 days, you will have a MVP and clear cut process and strategy of achieving the product market fit.
The company itself will definitely grow over years but the launch will happen within the 40 days. We have met a number of entrepreneurs who just can't launch even after spending years on an idea. The reason is simple. Sometimes they are afraid to go out and talk to customers, to validate the idea while other times its because they just can't get the product built and keep adding features after features.
We ensure that entrepreneurs get over this fear of launch and focus on achieving the product market fit.
For 40 days, we work 24*7 with the founder/s. After that we provide all the resources and connections we can as advisers.
If the founders are afraid to launch based on the reason you stated above, don't you think your suggestion to help is just temporary? There are different kind of markets and without domain expertise in a particular market, how do you map out strategy, sales etc.? How do you act as advisors?
Since we develop the products ourselves and ensure that entrepreneur goes out and talks to customers, we fix both the problems. As we have seen from experience, many entrepreneurs fear for the first time. And, mostly its about the fear of failure and validation. We help them overcome it and do what is necessary.
We have created a process for converting the idea to startup. If you have noticed, the entrepreneurs that succeed in one venture, are more likely to succeed in their future ventures irrespective of the domain. Once the entrepreneurs know the process, they can execute the details as per the context. We also connect entrepreneur with the expert in that particular domain.
So...
1)But you stated the founders are scared to talk to customers so how do you ensure that this particular problem is fixed? Is there a clear process the founder how to follow? Do you have a sales coach training them?
2)So are you saying you only take founders who have been successful in a venture before based on this response -"If you have noticed, the entrepreneurs that succeed in one venture, are more likely to succeed in their future ventures irrespective of the domain."
3) I am just trying to understand the thought process behind your marketing pitch about what you want to do. If your background is development, why not stick to that alone instead of throwing all the others in?
Thank you again, Pavornyoh, for taking out your precious time.
1. We help founders overcome the fear. There is a clear process.
2. By that , we mean following certain processes improves the success rate for startups. Successful entrepreneurs know these processes. And we teach first time entrepreneurs this process.
3. Entrepreneurs who are passionate about an idea face many problems. The first problem is :
i. They need a product but may not have the necessary tech skills. We fix this problem for them.
ii. Almost all failed startups have the product, but what they do not have are enough customers.
We guide entrepreneurs how to get customers.
We fix these 2 problems in the 40 days.
After these whenever startup achieves product/market fit and enters in the scale phase, we connect them with the relevant domain experts who will help them scale.
This - "We guide entrepreneurs how to get customers.
We fix these 2 problems in the 40 days". Those 2 problems cannot be fix in 40 days in my opinion. So you consider all ideas no matter how crazy it is and work with it by developing and mapping out a strategy?
Interesting- I think you will have a hard time convincing people here in the U.S to go with you. For $9,000 a promise to fix 2 of their main problems in 40 days isn't enough for the very savvy ones.. But all the best to you..:)
Convincing people has not been a problem so far. Because its usually the entrepreneurs whom we have worked with that refer us to their friends.
Also, you don't have to pay 9k at once, its usually milestone based or weekly. There is no lock-in. The entrepreneur can leave whenever they want if they don't like the program.
Btw, I really appreciate your questions and suggestions. Is it ok, if I put these questions on ideatostartup?
Thanks. I think I must mention in the site that, there are no holidays in those 40 days and average working hours are 10-12 hours everyday. So for 9k you get 400-450 hours of working hours. That's less than 25 dollars per hour.
The presentation is making it sound like a "test area" , throw some money and see if it works or not . I feel , what you are writing right now is pitch for yourself and sadly its not working .
Hmmm.. Based on this response to @Nautical, your pitch on the site said you can only take 1 application in November. So if you are booked for 6 months, why take an application in November?
We received the applications yesterday after submitting on Hn and other places like Google groups. The ideas to work on till October are finalized. The ones received yesterday aren't. So while we would like to receive as many applications as we can, they are not necessary.
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[ 2.6 ms ] story [ 47.0 ms ] threadBy "the ideatostartup is kind of a crash course" , we mean that ideatostartup will take you from idea to startup within those 40 days. Within those 40 days, you will have a MVP and clear cut process and strategy of achieving the product market fit.
The company itself will definitely grow over years but the launch will happen within the 40 days. We have met a number of entrepreneurs who just can't launch even after spending years on an idea. The reason is simple. Sometimes they are afraid to go out and talk to customers, to validate the idea while other times its because they just can't get the product built and keep adding features after features.
We ensure that entrepreneurs get over this fear of launch and focus on achieving the product market fit.
For 40 days, we work 24*7 with the founder/s. After that we provide all the resources and connections we can as advisers.
Since we develop the products ourselves and ensure that entrepreneur goes out and talks to customers, we fix both the problems. As we have seen from experience, many entrepreneurs fear for the first time. And, mostly its about the fear of failure and validation. We help them overcome it and do what is necessary.
We have created a process for converting the idea to startup. If you have noticed, the entrepreneurs that succeed in one venture, are more likely to succeed in their future ventures irrespective of the domain. Once the entrepreneurs know the process, they can execute the details as per the context. We also connect entrepreneur with the expert in that particular domain.
2)So are you saying you only take founders who have been successful in a venture before based on this response -"If you have noticed, the entrepreneurs that succeed in one venture, are more likely to succeed in their future ventures irrespective of the domain."
3) I am just trying to understand the thought process behind your marketing pitch about what you want to do. If your background is development, why not stick to that alone instead of throwing all the others in?
1. We help founders overcome the fear. There is a clear process.
2. By that , we mean following certain processes improves the success rate for startups. Successful entrepreneurs know these processes. And we teach first time entrepreneurs this process.
3. Entrepreneurs who are passionate about an idea face many problems. The first problem is :
i. They need a product but may not have the necessary tech skills. We fix this problem for them.
ii. Almost all failed startups have the product, but what they do not have are enough customers. We guide entrepreneurs how to get customers.
We fix these 2 problems in the 40 days.
After these whenever startup achieves product/market fit and enters in the scale phase, we connect them with the relevant domain experts who will help them scale.
Convincing people has not been a problem so far. Because its usually the entrepreneurs whom we have worked with that refer us to their friends.
Also, you don't have to pay 9k at once, its usually milestone based or weekly. There is no lock-in. The entrepreneur can leave whenever they want if they don't like the program.
Btw, I really appreciate your questions and suggestions. Is it ok, if I put these questions on ideatostartup?
Thanks.