Improvement Ideas & Initiatives → Several “Starter Startups” Pitching for Partners!
TABLE OF CONTENTS
1. What if we start thinking about “Startups” as “Products” and “Products” as “Content” and…
(full column soon)
2) Don’t Put All Your Eggs In One Basket! (MultipleBasketStartups.com)
NOTE: Multi-Tasking & Part-Time Startups (Pre-Proof Of Concept) are key premises for MOST of our ReThinkingStartups.com Programs. Obviously this won’t be right for ALL startups or ALL entrepreneurs; HOWEVER, don’t forget that we ALL have plenty of (semi-recent) experience multi-tasking:
3) The S.W.A.N. Startup — “Sacrificing Weekends And Nights”
4) TBA (ask me about it later)
5) TBA (ask me about it later)
6) “CoFounderator.com” —
I believe that (many) problems in the typical “Co-Founder Search” process can be addressed by:
A) looking at the the potentially huge impact that “part-time startups” and “multiple horses in the race” (i.e. “multiple eggs in multiple baskets”) could have on a co-founder’s “do it or don’t do it” decision-making / risk-analysis process, B) encouraging self-awareness (recognition of strengths/weaknesses) in founders — and a more honest advice/feedback program before would-be founders go all-in, and
C) creating a program, a movement, or even a new incubator/accelerator model — designed to match co-founders (great at something) with co-founders (great at something else) and to create Startup MVPs (“Starter Startups”) based on some of our “ReThinkingStartups.com Strategies” — particularly shared resources (even shared C-level talent!), economies of scale, and a cross-promotional network effect — intended to create smarter, more efficient, and more successful startups!
P.S. You’re familiar with the idea that “you’d rather have a smaller piece of a much larger pie — rather than 100% of a much smaller pie” in regard to concerns about giving up equity… well, I think a similar philosophy could (should?) be that “you’d rather have part-time contributions of a GREAT co-founder — rather than full-time contributions of a less-qualified co-founder” in regard to the difficult and time-consuming process of searching for a great-fit co-founder who is ALSO willing to give up the security of their current situation to join you full-time…
7) Startups Within Startups — whether it’s proactively anticipating a future pivot and starting it now or even an entirely different concept, when else can you start a startup and benefit from so many shared resources and economies of scale? (while avoiding all the traditional time-consuming parts of starting a startup — finding office space, interviewing/hiring, all the learning curves, etc. — you already did all that!)… (more soon)
P.S. If you are a company that has spent a lot of time and money to perfect your logistics / fulfillment / shipping operations… or your social media / digital marketing / customer acquisition process… or your [insert whatever you are GREAT at!]… then why the hell would you NOT spread that expertise, those sunk/fixed costs across another startup / another product / another business unit (the terminology doesn’t matter!)?!?! And/or become a Partner / Co-Founder / Whatever with another startup that would place TREMENDOUS value on not needing to re-invent the wheel (that you have already spent time/money inventing)?!?
8) Startups For Students — APPLY NOW FOR SUMMER 2017!!!
9) Severance Startups — That sucks that you got laid off. But what a fortuitous opportunity if you’ve ever been interested in starting (or working with) a startup but lack of couldn’t afford to work without pay… No better time to start a startup then when you’re working on someone else’s dime!
10) Starter Startups…
It’s still “To Be Determined” whether “Starter Startups” will be a formal program on its own or just more of a movement/idea/philosophy — or even just a new terminology label to help clarify and differentiate between the many different types/sizes of startups, but we believe “Starter Startups” should embrace the following:
- Entrepreneurial Self-Awareness (recognition of strengths/weaknesses)
- There is value in putting “multiple horses in the race”
- There is value in the idea of Part-Time startups (at least initially)
- The belief that you must be “ALL-IN” on a startup can be unnecessary/outdated (for SOME types of startups and SOME types of Entrepreneurs)
11) Investment Improvement Ideas… (primarily for Pre-Revenue / Idea-Stage startups)
11A) The “Magical 10% Theory” — My key premise is that adding an additional 10% on a round of funding would almost NEVER be a big deal (or a deal-breaker) to an investor at ANY funding level. (The difference between investing $200k and $220k? The difference between $2 million and $2.2 million? If you’re comfortable with the investment level of the former, then the latter really isn’t likely to be a deal-breaker.) HOWEVER, almost magically, the dollars that comprise that “insignificant 10%” will simultaneously represent a HUGE (game-changing!) percentage of the PREVIOUS round…
…I believe that investing (in Idea Stage and/or Seed Stage startups) would become SIGNIFICANTLY more appealing if investors knew that they would receive that “Magical 10%” from the NEXT round of funding (making them whole or closer to whole, while still maintaining their upside/equity). It would:
— increase the likelihood of successful investments (because, in addition to betting on the ultimate success of the company, they’re also investing in the ability to simply make it to the next/larger round of funding — a much more frequently attained milestone).
— AND, it would put more money back in the pockets of seed-stage investors (much sooner), thus making more funding available to other startups!
- and I believe all of that could be accomplished with MINIMAL effect on investors of subsequent rounds…
…I’m not saying it would be easy to start this movement, but IF it could somehow (magically?) become a standard practice, I truly believe the “Magical 10% Movement” could have a magical (game-changing!) effect on Startup Investing across the board!!!
11B) “Investment Dollars” vs. “Investment Hours” — In a nutshell: Many Founders spend A TON OF TIME trying to get funding. In MANY cases, that funding is needed to hire employees. I believe that SOME “entrepreneurial employees” out there would actually be interested in that equity (rather than just the dollars that the Founder is attempting to sell the equity to attain)… Instead of struggling to find X dollars in funding (to use as salary to pay employees), why not entice employees by letting them work for that equity, the same way they would work for the dollars that you’re trying so hard to find? Equity-Earning Employee-Entrepreneurs? #AlliterationAddiction
I’m not talking about traditionally insignificant amounts of equity via stock options with long vesting schedules (like startup employees are currently duped(?) into viewing as a valuable part of their compensation package). I’m talking about REAL chunks of equity — the same kind of equity you’d give up to a real investor (to get the funding necessary to hire those same employees). Every hour/day/week/month of employment would be tied to an amount of equity (based on value of the employee and valuation of the company) — just like every dollar of funding from an investor is tied to an amount of equity based on company valuation. (The primary difference is that you generally get the full round of funding at once whereas the Equity-Earning-Employees would be earning their equity one hour/day/week/month at a time, but that’s just a little math/legal work to be done.) If you’re a founder struggling to find funding to build your team, then what do you care if you give X shares to an investor for Y investment dollars so you can turn around and pay that Y dollars out in salary — OR — if you cut out the middle man (investor) and use that equity to pay employees instead of salary?
[NOTE: Common response: Most people can’t work for no salary. Ok, so they’ll work 20 hours instead of 40, get half as much equity, keep their full time job, and either it’ll take twice as long or you hire 2 of them… not ideal — and obviously this model won’t work for all people/companies — but still could be an interesting alternative for startups who struggle to find funding!)… (more soon)
12) Economies of scale, shared resources, a cross-promotional network effect… THE WHATEVER NETWORK! …
More details soon! (Contact us here — or Jeff @ StartupWhatever.com — for more info and/or to get involved!)
Yes, as ridiculous as it may sound, we plan to announce SEVENTEEN (17?!) STARTUPS (by the end of 2017!) — all based on some “ReThinkingStartups.com Ideas and Strategies”, including but not limited to:
- Entrepreneurial Self-Awareness
- Complementary Co-Founders
- Recognition that there are MANY TYPES of Startups (and Entrepreneurs!)
- Ours will be mostly B2C and will at least START as Low-Risk “Starter Startups” — meaning they can be started quickly, inexpensively, with PART-time commitments… and with modest goals of ~$1 Million (not $25 Million, not $250 Million, not Billions!)
- The many benefits of PART-TIME Startups (theSWANstartup.com = Sacrificing Weekends And Nights)
- The many benefits of Not Putting All Your Eggs In One Basket (MultipleBasketStartups.com)
- Shared resources, economies of scale, and a cross-promotional NETWORK effect…
- … so the worst case scenario (for our “Whatever Network” startups run through one of our “Startup Whatever” programs) is that a “failed startup” simply becomes “content” or “marketing” or “lead-generation” or “customer discovery” for OTHER “Whatever Network” startups! (And/or they serve as experience, learning, training, A-B testing, market-research, etc. for the team)
- Some intangible “IDEA+++ secret sauce” provided by ~15 years of “ViralWhatever.com” experience
- Some tangible marketing assets, including a portfolio of proven-viral content and a database of 1.4 MILLION fans of our (past/present/future) “Rejection Hotline / Humor Hotlines” business — all of whom are legally subscribed (MMA-compliant, double-opt-in process) who have requested to receive updates from us when we launch new stuff!
Our 17 STARTER STARTUPS are all PITCHING FOR PARTNERS — initially privately (contact us for info!) and then more publicly (2018).
INTRIGUED BY ANY OF THE “STARTUP WHATEVER” ABOVE?
INTERESTED IN PARTICIPATING IN (OR RUNNING?!) ANY OF IT?
(Or Jeff @ StartupWhatever.com — for more info and/or to get involved!) #PartnersNeeded
Originally published at thewhatevernetwork.com.