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MenuIs there a program where I can post a startup idea within a specific category and automatically get connected with a related expert?
Sometimes if someone has an idea, it can become more valuable by having other experts adding their comments about it so that it gets to a final clear idea that can be a successful business.
Why this is not done more automatically? The application will match the person with those experts who can accept to be part of finalizing such successful ideas and can also help in matching them with investors.
Answers
That sort of idea was most successfully implemented by a company called Quirky.com (https://www.theverge.com/2015/4/24/8488531/quirky-invention-powered-by-quirky). Quirky got a ton of investment and grew very quickly. I had meetings at their office several times, and it was a really fun environment, with prototypes everywhere. They even had a partnership with GE, to help bring some of their IP into reality. However, they ended up making some bad decisions and they went bankrupt in 2015.
Other companies have tried the same thing and also failed:
http://assemblymade.com/
http://applits.com/
http://amysampleward.org/2009/11/13/ideablob-says-goodbye/
However, Quirky.com has just re-started without much fanfare a couple months ago (see: http://aquirkyblog.squarespace.com/home/2017/3/getting-primed-for-relaunch), so you can check it out and start using the platform again if you like.
Related Questions
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What is a good/average conversion rate % for an e-commerce (marketplace model) for customers who add to cart through to purchase order.
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A tech startup fully outsourced. What problems would be in this situation?
The ideal way would be to hire the engineer while the project is still under development. You and the engineer should follow up with the outsourced partner in the process. This will give hold to the engineer and later more staff can be trained in upgrading or follow on versions of the product/service.SM
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VCs: What are some pitch deck pet peeves?
Avoid buzzwords: - every founder thinks their idea is disruptive/revolutionary - every founder says their financial projections are conservative Instead: - explain your validation & customer traction - explain the assumptions underlying your projections Avoid: - focusing extensively on the product/technology rather than on the business - misunderstanding the purpose of financial projections; they exist in a pitch deck to: a) validate the founders understanding of running a business b) provide a sense of magnitude of the opportunity versus the amount of capital requested c) confirm the go-to-market strategy (nothing undermines a pitch faster than financial projections disconnected from the declared go-to-market approach) d) generally discredit you as someone who understands how to build a company; for instance we'll capture 10% of our market, 1% of China, etc. Top down financial projections get big laughs from investors after you leave the room. bonus) don't show 90% profit margins. Ever. Even if you'll actually have them. Ever. Instead: - avoid false precision by rounding all projections to nearest thousands ($000) - include # units / # subscribers / # customers above revenue line; this goes hand-in-hand with building a bottom up revenue model and implicitly reveals assumptions. Investors will determine if you are realistic, conservative, or out of your mind based largely on the customer acquisition numbers and your explanation of how they will be achieved. - highlight your assumptions & milestones on first customers, cash flow break even, and other customer acquisition and expense metrics that are relevant Avoid: - thinking about investor money as your money - approaching the pitch from your mindset (I need money); investors have to be skeptics, so understand their perspective. - bad investors; it's tempting to think that any money is good money. You can't get an investor to leave once they are in without Herculean efforts and costs (and if you're asking for money, you can't afford it). If you're not on the same page with an investor on how to run/grow the business, you'll regret every waking hour. Instead: - it's their money; tell them how you are going to utilize their money to make them more money - you're a founder, a true believer. Your mantra should be "de-risk, de-risk, de-risk". Perception of risk is the #1 reason an investor says no. Many are legitimate, but often enough it's simply a perception that could have been addressed. - beyond the pitch, make the conversation 2-way. Ask questions of the investor (you might learn awesome things or uncover problems) and talk to at least two other founders they invested in more than 6 months ago.JP
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Business partner I want to bring on will invest more money than me, but will be less involved in operations, how do I split the company?
Cash money should be treated separately than sweat equity. There are practical reasons for this namely that sweat equity should always be granted in conjunction with a vesting agreement (standard in tech is 4 year but in other sectors, 3 is often the standard) but that cash money should not be subjected to vesting. Typically, if you're at the idea stage, the valuation of the actual cash going in (again for software) is anywhere between $300,000 and $1m (pre-money). If you're operating in any other type of industry, valuations would be much lower at the earliest stage. The best way to calculate sweat equity (in my experience) is to use this calculator as a guide: http://foundrs.com/. If you message me privately (via Clarity) with some more info on what the business is, I can tell you whether I would be helpful to you in a call.TW
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How do I hire a good Copywriter?
Kudos to you for seeing the value in great copy. I love that you mentioned 37signals, which is an organization that's made copywriting part of almost everyone's jobs (or so they've shared on their blog). MailChimp and Zendesk are two others that people often point to re: great copy that builds a brand and differentiates; Groupon is another awesome example of really, really tonal copy that people actually read (which is more than half the battle). MailChimp has in-house copywriters, including Kate Kiefer (https://twitter.com/katekiefer), and so does Groupon. I'm not sure who writes for Dropbox or Zendesk, though searching companies on LinkedIn can often reveal little-known in-house geniuses. The startups you mention have a certain style and tone that I have to say is different from what you'll normally get with a "direct response" copywriter, though by all means check out the link David Berman submitted to you because you never know. I recommend that, to achieve the slightly funky, funny-ish copy you're looking for, you seek out a conversion-focused copywriter with a creative and UX background. You need someone who's totally at ease adopting a new voice / tone and using it appropriately across your site and in your emails; less experienced copywriters might be heavy-handed with the tone, which often gets in the way of the user experience (e.g., button copy that's tonal can lead to confusion). Be careful, of course, not to push your writer to be exceptionally creative -- because a little touch of tone goes a loooong way for busy, scanning eyes. Here are some great freelance copywriters you could consider: http://copyhackers.com/freelance-copywriters-for-hire/ The link to Neville's Kopywriting peeps is also great. Before hiring, ask to see a portfolio or get a) links to websites they've written and b) a zip of emails they've written; if a writer is accepting clients, they'll usually showcase their work on their website. Check out their blog and tweets to see if their voice comes through in their own writing. Don't hire bloggers or content creators for a job a copywriter should do. Don't hire print copywriters for web work unless they do both. And when you find a great copywriter, trust them... and don't let them go - because 10 bucks says, they're in demand or about to be.JW
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