“Realistic Rick” & Tough Love Consulting?!? (www.RealisticRick.com)
It’s not what you WANT to hear — it’s what you NEED to hear!
Our typical “Realistic Rick” Consulting Sessions look something like this:
- Let’s hear your elevator pitch.
- What are you really F***ING GREAT at? (Or, if it’s someone I don’t feel comfortable swearing in front of, “What’s your competitive advantage?)
- What’s your biggest target/goal right now? (Short-term? Long-Term?) — X number of users? Y dollars in revenue? Z dollars in funding?
- How close do you think you are [to that] milestone and/or what are the key steps on the path to getting there?
- One of these:
a) Tell me why you think you’ll hit your target/goals
b) Tell me why you think an investor should give you money
c) Tell me why you believe your startup will succeed…
[NOTE: In most cases, this is where “Realistic Rick” starts getting sassy and dispensing the “Tough Love” that most people are too (polite? positive? afraid?) reluctant to provide:
“Oh, you’ve identified a market need / gap / opportunity?? Nobody else is doing this?? All the feedback you’ve gotten has been positive?? You’ve got the passion / drive to succeed?? You’re determined to do whatever it takes?? There’s no competition?? All the existing options are ok, but they’re missing [X]?? It’s a ‘[2.5] Billion Dollar Market’ and if you just capture 1 percent of the market…?”]
6. What percentages of startups do you think would have similar answers and/or the same confidence, passion, etc.?
7. I don’t want to see any financials; but, from 10,000 feet…
What do your projections show? [X dollars in revenue in (Year 1? 2? 3?)? Y customers by (date?)? Z% profit margin? Customer Acquisition Cost of $qq.qq and Customer Lifetime Value of $QQQ.QQ?]
8. What are some of the key assumptions that get you there? (to one/some/all success indicator(s) from prior answers)… ? [I can explain/elaborate more on what I mean]
9. I’m getting in a time-machine tonight and going (3? 5? 10?) years into the future to talk to “Future You”…
A) IF your startup is a success, can you tell me what that “success” actually looks like?
B) If, IF, *IF* your startup should fail, can you give your best guess (now) and imagine WHY/HOW that would be most likely to happen? (Which assumptions did you end up being wrong about?) [When/how did you decide to recognize that and what did you do then?]
10. a) WHY? (You will be asked several times about several of your responses)
10. b) Do you KNOW that, THINK that, or HOPE that? (You will be asked several times about several of your responses)
10. c) Is that based on a “Reliable OBJECTIVE Indicator” or an “Optimistic Assumption”? (You will be asked several times about several of your responses)
***Contact info@StartupWhatever.com for more info or to request a “Realistic Rick” Consultation!***
P.S. Real testimonials:
- … I never would have thought that 15 minutes [with “Realistic Rick”] would be better feedback than my 150 customer discovery surveys [that I had done over the past 30 days]
- … realized I had never actually thought about why I wanted to be an entrepreneur in the first place or why I had picked [this idea] to start… he definitely gave me a lot to think about! Would not recommend if you don’t take criticism [well] or [if you] get easily offended
- Welp, that was a kick in the nuts
- Every potential entrepreneur should be required to talk to you before they start!