Startups & Ventures

Link: Ask HN: How to validate a startup idea whilst employed? Some bits from comments I like: 1. "You can validate the idea using SEO tools, check if the competitors have traffic and do some detective work to see if they are viable companies. Check the SEO space, and see how many people are running ads on the main search terms, how hard is it to rank for the the main keywords. Check if forums exists, and discount coupons for similar products in marketplaces, check for similar products on product hunt and all the other product websites like Appsumo, Capterra, etc." (link) 2. "The book The Mom Test also points out well that lots of people will say your idea is good even when they have no intention of buying." (link) 3. "A lot of times you can validate whether a market exists without writing any code." (link) 4. "does anyone want this?"

💡Idea: Blog articles distribution It's difficult to get views on a blog that doesn't rank well on search engines. You post an interesting article and no one is reading it. This distribution problem hit authors hard. They decide to stop writing. How can we improve this? What if we have a platform where an author adds his blog, and the platform shows the articles to relevant people? One may state it's Medium, but no. First of all, you don't own the content there. Plus, Medium doesn't show the relevant content to people. For example, I wrote multiple posts there and got 0 views. The platform will keep track of new articles in an author's blog by RSS. When a new material releases, the platform shows it to people. If people like it, the platform shows it to more readers.

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Idea: sign-up fuck off A browser extension that pre-fills all the routine data you usually type in to quickly get access to some website. Imagine you look for information, and many websites ask you to sign up to "get more". What if the extension can fill in the information automatically, speeding up this process? Also, this extension may block all the modals and notifications like "accept cookies?", "allow notifications for our news?", "sign up for our newsletter", etc.

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Idea: "start here" page for the Internet i.e. a rabbit hole for other rabbit holes If you read blogs, some of them have "Start here" page for the first-time visitors (an example from David Perell). On it, one can find useful links to make use of the blog to the maximum extent - the most popular articles, the most used terms, links to other metapages and metalists. Why it's useful? You don't need to read through all the blog to extract the best. You spend 30 minutes instead of a few weeks, for example. Let's move the idea to the whole Internet perspective. It looks like the first website directories tried to do that. They listed the popular(and not) websites on their directory setting a category / tag to them. In this way, if you know the catalog website, you can find the other websites that are useful to you. Then, search engines improved their algorithms, we've got more and more websites and information. It's difficult and time-consuming to filter it. You still may go to the website catalogs but they for sure won't have all the things you might be interested in. The same applies for search engines - they're useful if you know what you're looking for. The Internet has a discovery problem: you can search from all the websites well but you can't discover well. There are websites that are news or articles aggregators, like Reddit - there you can find some new information valuable to you, be it memes, cats videos or the articles from an author that suggests the new Universe theory of all. And people like such discovery / aggregators websites, they like to know there is always something more - funny, useful, new to them. For this purpose, we could create a meta-list of tags / categories of websites. The idea is to provide a beginner or not person a one place where one could start their Internet journey. You put your interests and the system suggests you some new websites. So, it may work as a recommendation system. But also, it may work as a [meta] catalog - there are tons of links to other links that lead to other websites or threads. For example, I find some article about programming microcontrollers, and I see other links to similar articles and websites - a personal blog of a person who created some microcontroller, the other blog about a person who create a programming language for the microcontroller, a website about niche microcontrollers, a community in <choose your platform> of people who discuss microcontrollers, and so on. Monetization? 1. You could make it as a newsletter and charge for extra materials, or make a paid option to subscribe - but then you should serve some nichy niche to send really relevant links. You may create 500 such newsletters for various topics. But maybe it's simpler to make it as a website with a different monetization model. 2. If it's a website, you can make people pay for extra functionality. 3. Ads on the website. If the website is free(people won't like to pay for links and discoverability features - think of Google, do you pay for it?), then you can put ads there. Make the website popular and you can live on those ads.

💡Idea: Kickstarter for cinema Allows people to vote for movies/cartoons plots, ideas, sketches and donate for it, therefore other people or author can produce a movie. Also, people can subscribe to your movie's page, create logos, trailers, prototypes of characters. So, you can create a page with your movie's idea, write a plot and wait for other people' feedback. Maybe, you will receive some money or there are will be people who are interested in a idea and going to sponsor/produce a full film. Monetization: ads, donate fee.

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Idea: Mobile game templates A platform that provides templates to make a mobile game. By template, I mean an automated flow with pre-defined steps, visual effects, mechanics, but you can change them with your text, graphics, etc. For instance, there are templates for text-based games where you can create a plot and a player takes particular actions that lead to a specific plotline. Like, an interactive book. This platform may begin with one template and add other later, if necessary. Even creating games with one template would save developers a lot of time.

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Idea: an assistant that saves your attention A personal assistant that can filter out spammy or not critical to you messages in various messengers and places to save your focus and time. For example, you may get two messages a week in Telegram from people who sell some stuff you're not interested in. Thus, you spend some time reading such messages, responding, or blocking. So why not streamline the process? This personal assistant won't be a real person, merely a bot that can do the job. Also, we may introduce this concept not only to messages in messengers but news and other information.

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Highlights on web pages A browser extension that allows you to highlight a text on a web page, with a possibility to add notes. Then the extension saves the highlights in one place(it may even be Notion), so you can access them. The notes are easily searchable, categorized by a website, and custom tags. A related idea: if you make your notes public, then other users who use the extension can see what you've highlighted on any website. Like, it is on Medium.

Here's an article devoted to the story of the Liqvid startup. Liqvid offers a solution that will suit both large and small businesses — a cheap subscription-based software that doesn’t require preliminary training and allows businesses use digital signage the way they want - quickly, remotely and efficiently. The history of the startup began in 2018, when Max brought a product prototype to Alex — they started to sell it immediately focusing just on corporate clients and digital media networks. Since the beginning of the pandemic, they changed this focus to small businesses Liqvid’s first international clients forced the company to adapt its platform to new markets. In the fall of 2021, Liqvid switched to free distribution of the platform — a Freemium model with a paid extended — Premium version. Also, they launched the second product — a TV screen subscription for businesses. Now Liqvid has offices in the United States, the United Kingdom, Singapore and Spain.

Here's an article devoted to the story of the Liqvid startup. Liqvid offers a solution that will suit both large and small businesses — a cheap subscription-based software that doesn’t require preliminary training and allows businesses use digital signage the way they want - quickly, remotely and efficiently. The history of the startup began in 2018, when Max brought a product prototype to Alex — they started to sell it immediately focusing just on corporate clients and digital media networks. Since the beginning of the pandemic, they changed this focus to small businesses Liqvid’s first international clients forced the company to adapt its platform to new markets. In the fall of 2021, Liqvid switched to free distribution of the platform — a Freemium model with a paid extended — Premium version. Also, they launched the second product — a TV screen subscription for businesses. Now Liqvid has offices in the United States, the United Kingdom, Singapore and Spain.

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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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Common reasons why startups fail by the version of 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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