Startups & Ventures

Attract early-stage supporters and contributors for your project Today is the launch day of Tokenhunt.club 🚀 - a tool allowing you to create a dedicated page for your product / project, get a sharable link and attract your first loyal audience. This is a way to ensure early boost and valuable feedback at the beginning of your product journey. The project is now Open Beta, so you're getting all the features for free and also you can make it to the list of featured projects and get noticed by other community members, incl. engineers, vc's etc. ______________ Publish your project at: https://tokenhunt.club Example of a project page: https://tokenhunt.club/project/phygital-flowers-marketplace In case any questions / feedback or support feel free to contact @yuralisin Good luck with your ideas 🍀

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.).

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Open-sourced fitness bracelet Recently I've got a fitness bracelet(Honor) to track my sleep better and other metrics. I had an idea to collect as much data as I may through API, so I'd build an app to get my(!) data and analyze it in a way I prefer. Why? I'd like to have data for the years I wear the device to make my conclusions and visualizations, rather than just what I see on their app. Why would anyone care? A bracelet app may show you how well you sleep, but not raw data you or other people would analyze better. You may scan the data through more advanced algorithms(e.g. employing ML) than just doing "if sleepTime < 6 hours { return 'You slept too little' }". There are good data though my bracelet app presents to me I could handle it to make some other aggregations. The other thing to mention is it'd be nice to have all your raw personal data that the device collects, right? Why can't you upload it all and analyze yourself? Yes, I bought the thing, give me the great API. Instead, there are many obstacles. In my case, I should register in some Huawei(the Honor parent) company development program, then get their development kit available only on Windows. It's ridiculous. A potential solution? Well, some (nerd?) human-oriented devices and open API to do what you want with your data. Analyze it. Make your server the device will send the data to. Do whatever you want. No closed APIs and unknown policies regarding your data that is being sent to some big company servers, so they can "improve our metrics".

Cloud video transformation Many companies build their own solutuions to work with videos. For instance, encoding, decoding, cutting, making previews and so on. For a company which goal isn't providing such functionality, it's resource consuming to make its own solutions to work with video. The idea is to provide video transformations functionality as API in a cloud. Thus, I can easily, for example, cut a video file, then reduce its size in one or two API calls instead of spending a huge amount of time implementing this myself. Monetization: users pay for an API call. Or tiers for a specific amount of calls per day, week, or month.

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💡Idea: Algorithmic Casting Director Problem: There about 135,600 actors in the US that are both employed and unemployed. Globally this number is even higher. Given this, it is extremely difficult for casting directors to find high-quality talent. Solution: An algorithmic casting director that can analyze the audio and video submissions from candidates to determine if they would be a good fit for the role. Right now, casting directors have to watch each individual video in order to determine whether or not to move someone forward in the process. Given that these directors are looking at hundreds or thousands of videos, this leads to implicit bias. Thus, the business would attempt to eliminate bias and increase diversity in casting by being more objective and (hopefully) more accurate in finding high-quality artists.

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Idea: Releases tracker A tool that helps me to track when my favorite series, shows, movies will be released. Also, it'd be great to track recent news that mention those movies/series.

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Idea: Burned out community A place where people meet advice and other people that care about burnout prevention, depression, overworking. There is a chat/forum where one can seek advice and read others' stories. There are learnings from others that prevented burnout. There are tests to check if you're about to burn out, or, if you have some mental issues, stress. You may pick a customized plan of antistress, read reviews of how it worked for other people. There can be a lot of content and even a possibility to connect with a professional who can help with the issue. It may be a place where people from IT, business, medicine, etc. might refer as a ultimate great resource to check out.

What is a minimal viable product(MVP)? So, you have this idea that sparked a lot of interest in you. It may or may not do the same for the other people you're gonna show your project. That's why people do MVPs. To test something quickly: build and get feedback to understand whether to proceed further. You may love the idea but no one else does so. *Why it's minimal?* Imagine the idea you love and want to build. How many days you should spend creating a working prototype? Let's calculate: 4 features, plus 3 integrations, and a possibility to pay in all countries, and one more feature to show cool analytics, and awesome UI, and..., and... Hmm, it'd take you 9 months. Fine! You've built it in 13 months(some unexpected adjustments here and there). You released it to an alpha test and it occurred no one is interested. You may say it's due to a lack of sufficient market research. You're right, let's do the research then. You did it and figured out that your target customers are private teachers in small schools. You talked to many of them and asked about the problem you try to solve. You did all the right things. Then, it's time to build something, right? So you've decided that in this case, it'll be fine to spend 13 months building a solution. You built it, showed it to the target potential customers and it turned out your solution doesn't address the problem they have. They would solve it differently! Fine, you collected the feedback and rectified your MVP in 2 months. Then, you repeated the release-get feedback cycle a few times spending a year overall to get a few people who want to use your solution. So, it's 2+ years just to build an MVP that people can use? The main point in the MVP concept is to iterate fast. You build something fast, show it to your potential users, collect feedback on what's wrong, adjust the solution. Do this multiple times and you get a few users. Then more until a product-market fit where your problem is scalability.

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💡Idea: Choose for me It's time-consuming to choose a thing you want to buy because there are many similar products. Some are better than others, some are worse. Searching for every one of them, reading reviews, comparing by price, specifications...Meh. What if there was a service that could do all of that for you? You tell it what do you want to purchase(e.g. a phone that does X and has Y, or, a new mouse for the office that won't break after a few months), it does the analysis and suggests you the result. Save a lot of time.

💡Idea: SEO analytic A tool that analyzes a website and gives recommendations what kind of content to make to attract visitors from search engines. You may think of such things do exist, not really. There are many tools to analyze SEO and traffic, but you should do keywords research by yourself. Plus, you need to analyze competitors to understand if your article can outrank them in search results. It also would be good to see what kind of topics is not covered much, i.e. what articles people search for, but can't find a valuable piece of information. This is an important one because many articles are spam w/o giving value.

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Idea: Entertain me! A website that recommends you some activity to do when you're bored. For example, it hints you to listen to music(a specific playlist, group, or a song), if you like it, the system will recommend similar activities in the future. If you prefer other things to do in your current mood, it'll try to suggest to you other activities, like watching a specific movie, visiting an online museum, gallery, having a conversation with a person, or, maybe listening to music with a group of people online.

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The Y Combinator advice key points (full article): • Launch now • Build something people want • Do things that don't scale • Find the 90 / 10 solution • Find 10-100 customers who love your product • All startups are badly broken at some point • Write code - talk to users • "It’s not your money" • Growth is the result of a great product not the precursor • Don’t scale your team/product until you have built something people want • Valuation is not equal to success or even probability of success • Avoid long negotiated deals with big customers if you can • Avoid big company corporate development queries - they will only waste time • Avoid conferences unless they are the best way to get customers • Pre-product market fit - do things that don’t scale: remain small/nimble • Startups can only solve one problem well at any given time • Founder relationships matter more than you think • Sometimes you need to fire your customers (they might be killing you) • Ignore your competitors, you will more likely die of suicide than murder • Most companies don't die because they run out of money • Be nice! Or at least don’t be a jerk • Get sleep and exercise - take care of yourself #materials

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