So what happened to your startup well, I took a break because That’s some other priorities going on yeah, I want to work on personal development you know building relationship networking and also just overall learning more and While I was doing that I had to look over to my old hard drives because I want to find some important documents and some important notes and I found something pretty interesting and when I clicked into it. You know. I just opened up the wallet and Oh, and there it is And then it hit me I remembered you know I used to mine bitcoins. It was probably like five five or six years ago I remember trying to get enough so that I could buy a pizza slice But I just couldn’t get enough I mean, I think you had I think you need like ten thousand big ones to get a slice of pizza But yeah, I only had like a hundred something But and then I checked the price And I was like oh Yeah, and I said to myself my god.
What am I and do of all that money? It’s crazy all the things I can buy But then I remembered I live in Silicon Valley all I can afford a new house Yeah, I guess I’m a homeowner now But I mean I ran out of money, so I have to start making money again, but yes, so that’s why I’m back The pitch one of the most important aspect of your startup no matter How great your ideas if you can’t convey it, and you don’t have any capital then your startup is useless And if you can’t inspire people and you don’t have a team already working for you Then your startup is he useless, but wait what if I can make a product that doesn’t require much capital? And I don’t need a team I could do it by myself well I mean if you can’t convey your idea to customers then you’re not gonna have any customers And if you don’t have any customers then your startup useless every interaction Relating to your star you will somehow require to pitch it now that is why it is essential to perfect your pitch Easier said than done.
Here are the seven questions that you should answer as clearly as possible with these in mind You’ll be able to do ten-second pitches to a five-minute presentation with demo number one What do you do be as clear as possible? No fluff no potion to test it the email tests write two sentences describing your startup in an email Send it to a competent friend and ask him to re explain to you with his own words if they can do that then you are golden Number two how big is the market? Investors care about ROI if there’s no market for a product then their investment isn’t worth it Don’t make your target market too wide or too narrow make it correct. You’re only wasting people’s time if you’re making up numbers Number three, what’s your progress they want to make sure you guys are actually doing something? What is possible in a given time frame? What can you do? Number four what’s your unique insight or in some sense? What’s your competitive advantage? How are you different than the start of next door? What makes you more likely to succeed in your market number five? What’s your business model? How are you gonna? Make money or Yuda grow fast think about money later kind of company, or we’d be making money right away It’s always better to have a plan of attack when it comes to monetization Number six who’s on your team? What are your credentials whose technical? Who’s not who’s doing? What is everyone useful? Are you as lean as possible? Number seven what do you want this can be capital convincing someone to work for you? or Simply to tell your mom that you’re actually doing something and that you’re not wasting her life savings on your pet projects and that this Time it’s gonna blow up for sure Once you have these answers now compress it into 30 seconds.
Here’s my My startup is called not fine comm platform to create and share six point one second videos We have a market size of at least 200 million given the fact that a similar product has just left this market I made No progress. I understand the market both consumer and producer have been working in the publishing industry for over five months which makes me an expert in social media and media publishing you can monetize through advertisement branded content and recent posts I Am currently the only one on my team, and I want you to join my starter What’s your background oh, I just worked on a couple of startups Mostly just like fitness related startups, so how do you know Jamba? Uh he’s my best friend’s ex? What was the break-up like Pretty bad I Mean I’m sure Joe must still cries over it we don’t Now you’re all here because you’re the best engineers ago Now I need something from you yet and today. I’m gonna talk about my starter.
Here’s my presentation velocity Compassion Spirituality what do all these things have in common, I present to you not vine calm a Platform to share 6.1 second long looping videos Oh, you know I love him, man. You know vine was vine was awesome, but not like it’s gonna be better It’s gonna be way better excited. Oh I Don’t know Pretty dumb to be honest Dude, the start of I’d use it utterly ridiculous. I created for starters by the time I was 18 I can build that back-end infrastructure during an episode of Battlestar, Galactica Well, I’m just a public delivery guy, but you know when I saw those slides I thought it was pretty cool, Jonah.
Seems like a pretty cool CEO. How did dream it’s gonna? Be like really really successful And then after that I had another dream about Taco Bell and Wendy’s Creating like a burrito burger so all in all I’m really excited about it We do work for a start-up. Oh Dude, no And what else it’s also a mobile.
Oh, I think it’s great I love vine and always been with checking those videos and being on it. Yeah, I think it’s awesome then they’re bringing it back You do realize it’s not vine right We went The opportunities research shows that door was a similar product that reached 200 million active users on December 2015 but That product is no longer in the market and left a need unsatisfied that is where we come in The thing is a complete and utter scam. It’s not only Bitcoin which is legitimate It’s like dumbass like coin or etherium. I would never pay it Launched roadmap so far. Oh yeah. He likes he’s my my follower. He’s followed me on Instagram Twitter snapchat and then one day you just like messaged me and Yeah, we started talking Yeah, I think his handle is at Joma oppa that’s Jay oh ma, oh And our main competitive advantage Me What do you think about Jenna as a CEO oh? Yeah, he’s a really great friend Jamal is a really bad boyfriend.
There’s this one time when he forgot Christina’s birthday Because he was so immersed in watching buying videos Market research let me explain this for you commonplace people if this was Star Trek The Next Generation I would be Commander data because I’m a genius He would be lieutenant ward because he’s just running around and making Stupid decisions all the time I bet Joma had to study off Jack Overflow to make it through a fucking Microsoft interview I would never work for the start-up in a million years not even a million light-years, and that’s not even a time It’s a distance now was her business model now. We have a lot of sources of revenue We got advertisement 70% Oh, yeah, sure man. I’m just chilling right now, but I’ll definitely work for them Do you have a job right now? You know I’m in between jobs You know just in that in between My mom always says I’m an entrepreneur What’s your criminal record Next steps So what we need to do next we need to create the iOS app We need to make the back-end a lot stronger, and we need to innovate don’t was a pretty good guy He gets Bubba was a hundred percent sweetness, just like Atari John one drinks his boba with 100 percent, sweetness To match all the marketing platforms any questions.
Yes, people are looking for Yeah, so I’m looking for like flexible engineers. You know engineers who are pretty much full stack back and front End if you’re not afraid of touching all these pieces of code, then yeah, you’re definitely good for jobs. You can do that Would you do with $420 69 6 Yeah, that’s a good question. I mean, I’ll definitely invest in not Viacom I mean we need as much capital as we can so yeah, definitely invest it any more questions Okay turn to camera Hey do yourself interrupting All right any more questions.
What’s your tech stack? Well um Well, you know like the mean stack. Yeah, I mean we could do that the nice stack – I mean like it is It’s pretty flexible right now. Yeah, so I mean nice stack means that you know it’s all good It depends on what you want. You know Do you even code Of course come on. I mean have a CS agree First of all the name not fine It’s not gonna work And I don’t know I just wasn’t listening honestly Do you think they make your pitch? Of course not do I mean I’m not stupid. I know what they’re saying, but that’s the thing not fine. It’s just a marketing scheme or something bigger Happy new years everybody was now if you enjoyed this video don’t forget to click the subscribe button and also turn on post notifications Because that will tell you when the next episode of startup will come out and a little update I have a patreon page now You don’t need to be a patron name thing But I’m just gonna post all the behind the scenes all the fun stuff that I didn’t get to put in the actual episode I’ll put it in there so you guys can check it out and also follow me on instagram at ramappa and twitter at demova You know so I could talk me together also.
Thank you guys so much I’ve now reached a thousand subscribers and as a thank you. I am going to do a giveaway more details on that later See ya.