Startups & Ventures

Common reasons why startups fail by Failory.com: - Marketing mistakes were by far the most common, and they were generally speaking the most deadly with 69% of all mentioned marketing mistakes being fatal. In fact, the fatal marketing mistakes were more numerous than all other fatal mistakes combined (56% vs 44%), as can be seen in the pie chart below. By far the most common reason for shutdown was lack of product-market-fit which constituted more than half of the marketing mistakes, but more on that below. - Team problems – friction, lack of experience, lack of motivation, etc., were the second most common. They were some of the least-deadly percentage-wise (only 39% of all mentioned team problems being fatal), but because they are abundant they were still the second most common reason for shutdown. - Financial problems and mistakes were the third most common. That said, bearing in mind more than 50% of the projects didn’t have any budget to begin with and more than 75% of the projects were self-funded, it’s a surprise that only 16% of the projects point at financial problems as the major reason for failure. - Tech problems were extremely rare, which is surprising considering almost all projects in the data have a technical side to them. The most common remark was that too much time and effort was spent on tech that proved to be useless in the long run. The most common answer to “a thing you would do differently next time” by far was “I’d talk to customers and validate my assumptions before writing a single line of code”. That said, a big % of tech problems were fatal: e.g. relying on a 3rd party API that changes can ruin a business overnight. - Operational problems were quite rare and not that deadly, but it’s important to mention that most interviewees ran software projects, so operational problems (e.g. suppliers, distribution) are not as common as in brick-and-mortar and physical product projects by definition. - Legal problems were rarest, mentioned only four times, but two of those four proved to be lethal. For most early-stage startups the legal side is a non-factor. Yet, there are still industries where you can’t afford to ignore it (food, finance, etc.).

Idea: Recaller A platform to help you to keep knowledge of read articles, books, etc. by employing learning techniques such as writing questions when you're reading. Then answering them once per X period. The platform shows the highlights you made, the questions and notes you wrote down.

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Idea: AI swimming couch A swimming pool that has this automated system that watches how people swim, analyze their movements, counts total swimmed distance and other related metrics. It gives everyone personal recommendations.

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Idea: Smartphone usage limits An app for smartphones where you point out how much time a day you should have your screen enabled. Or time per one session. Say, I want to limit my smartphone usage. So I configure this app to have only 1.5h a day, and when I spend all of it, I can't use my phone until there's an emergency(to use Google Maps, respond to a call, etc.). The other use case is when I don't know how much time per day I should limit, but I want to decrease smartphone usage time per session. For example, I may spend time watching YouTube or scrolling the Twitter feed, so I want to limit sessions to 5 mins. The app may punish me if I exceed the usage. For example, it may block the distracting apps for the whole day. On the other hand, it also could reward me if I were obedient to the rules for three days: the app might give me additional minutes per session for the next day. Of course, there are similar apps that block distracting apps. The problem is that they can be annoying, and you may decide to uninstall them. Or skip the warnings and notifications. Such apps should be more flexible and "smart" to help you. For example, a rewarding system might have a significant impact. Or the changing and insightful warnings if I violate the rules. So it won't show me the same message that I'm a terrible person, but it will tell something like: "if you continue spending additional time like you did today on YouTube, you'll waste <X> weeks per year".

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Idea: Advanced keyword planner That helps you to choose popular keywords that in use by not so many competitors; proposes alternative keywords; shows who those people (age, gender, preferences) who search the keywords. There is a Google Keyword planner, which is free and provides good numbers on what's going on in search. The only issue you should know the keywords you want to research and you should then research the websites' domain authority scores that appear on the first page on Google. Of course, there are Ahrefs-like solutions, but they won't suggest you a niche, keywords that are not competitive at the moment, or steadily grow and will be competitive in ~2 years.

Finding a problem or How to find business problems and the ones you have You're going to have to brainstorm. Some people recommend that you just sit around waiting for inspiration to strike. I don't. That might take years, if not forever. Be proactive. It's hard to say where the best place to start brainstorming is, not because there are so few, but because there are so many. There are thousands of good problems out there, and practically anything can trigger you to stumble across one. What's more important is that you recognize a good problem when you see one, and vice versa. If a problem scores poorly on the guidelines above, don't waste your time. Keep brainstorming. For that reason, it makes sense to start with one of these guidelines in mind, and let that be your trigger. For example, since it's helpful to solve a problem that you have yourself, why not take a look at your own life and see if you can spot any problems. What worries you, exasperates you, or annoys you? The other guidelines also work well as brainstorming triggers. Who do you like spending time with? What groups are you a part of? What are some problems you notice people solving frequently? What's something that seems to be growing into a bigger trend? My personal favorite is to start by looking at where people are already spending lots of time and money and go from there. Money changing hands is almost always a sign that there's a valuable problem being solved. Avoid Fatal Mistakes Founders typically have already made one or two huge mistakes by this point. If you can avoid these, you'll be way ahead before you've even started. Starting with a solution in mind. I've mentioned this already, but it's worth repeating. You need to be honest with yourself here, because this is sometimes subtle. If you're already attached to a particular idea for a product, technology, or set of features that you want to build, that's going to ruin your ability to find a solid problem and analyze it objectively. You've put the solution first, and it's blinding you to opportunities. Ruling out already-solved problems. Nothing in the guidelines above says that a good problem is one that nobody is solving. In fact, the opposite is usually true. Almost all successful businesses start by tackling problems that have popular, pre-existing, alternative solutions. Way too many founders attempt to solve unsolved problems, then get stuck. These problems are often unsolved because they're unimportant and people don't care. Being afraid to solve high-value problems. Indie hackers in particular are notorious for only tackling cheap, low-value problems. You don't have to sell something for cheap to have a chance at success. That's backwards. It's actually harder to sell cheap things, because people care less. I've bought more cars than back scratchers in my life. It doesn't matter that you're a small, scrappy startup. I've met 2-person teams selling their software for $10,000 per year per customer. Pick a high-value problem and charge a high price. Not having a specific customer in mind. If you can't articulate whose problem you're solving, how is your website going to articulate it? If you want to wait and see who the best customer turns out to be, that sounds a lot like a key looking for a lock. If you think your product is for everyone, it's probably for nobody. If you describe your target customer by combining a bunch of attributes (e.g. "iOS users who need to get tasks done but prefer modern, clean UIs"), that's not an actual group of people. You're just describing the features of a product you're already biased toward building. Some of these points are a bit counterintuitive. That's why so many generations of smart-but-uninformed indie hackers are repeating the mistakes of their predecessors. But it's simple to avoid these kinds of mistakes once you know them. It's more a more a matter of knowledge and discipline, rather than genius or hard work.

Erzy is a team of YC startupschool graduates who developed Cross promotion bot to make it easy for Telegram channel admins to gain new subscribers for free by exchanging subscribers with each other. “ErzyBot has been launched only 4 months ago and has already attracted lots of attention in the Telegram blogging community. We have been working hard introducing new features and onboarding dozens of new channels daily. We are planning to launch a brand new cross promotion web platform in the beginning of May. So stay tuned!” Deni Temirov (CEO and co-founder of Erzy Inc)

Erzy is a team of YC startupschool graduates who developed Cross promotion bot  to make it easy for Telegram channel admins to gain new subscribers for free by exchanging subscribers with each other.   “ErzyBot has been launched only 4 months ago and has already attracted lots of attention in the Telegram blogging community. We have been working hard introducing new features and onboarding dozens of new channels daily. We are planning to launch a brand new cross promotion web platform in the beginning of May. So stay tuned!”                                        Deni Temirov (CEO and co-founder of Erzy Inc)

Erzy is a team of YC startupschool graduates who developed Cross promotion bot to make it easy for Telegram channel admins to gain new subscribers for free by exchanging subscribers with each other. “ErzyBot has been launched only 4 months ago and has already attracted lots of attention in the Telegram blogging community. We have been working hard introducing new features and onboarding dozens of new channels daily. We are planning to launch a brand new cross promotion web platform in the beginning of May. So stay tuned!” Deni Temirov (CEO and co-founder of Erzy Inc)

Idea: Learning a language by songs An app to learn a language vocabulary(mostly) by songs. It matches words with songs that have them. Thus, it becomes better to memorize vocabulary. As you know, songs can be highly attached and easy to recall.

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Idea: Password change reminder A feature in password manager apps or a new extension that notifies you about changing a password when you open a website. The tool proposes a new password and a button be clicked that will find the password change form and fill the data automatically. It can be a separate browser extension though. It may also notify users when some breach happened or sensitive data is leaked somewhere. Thus, the extension's users will react first. --- Win 5 jackpot ducks from Waves protocol in 5 min

Resource: Y Combinator Startup Library This is a huge golden gem of the resources for founders and people who think to start something, change, improve, succeed. They consolidated the information for 15 years and give it to you! Prepare a few days or weeks to read/watch the materials!

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