You can call me “Debbie Downer” or “Negative Nancy” [though I prefer Realistic Rick or Logical Larry or Accurate Alex], but the harsh truth is…
If ~99% of startups FAIL, yet ~100% of entrepreneurs BELIEVE they’ll be the ~1% to succeed, then YOUR #Assumptions, #Beliefs, #Confidence about YOUR startup, simply can NOT be viewed as objective or valid (because MOST — if not ALL! — entrepreneurs will feel the same way about THEIR startup)…
So, the honest/harsh (objective!) reality is that you (and your startup) are NOT A SMART BET (for an investor — or even for yourself to make the All-In / Full-Time leap!) — UNLESS or UNTIL you have some RELIABLE OBJECTIVE INDICATOR(S) of…
- “Been There / Done That” — Prior Startup SUCCESS (not just experience)
- Joining a TOP Incubator/Accelerator program with a proven track-record of success (i.e. Y-Combinator, TechStars, etc.)
- [NOTE: I’m definitely open to adding more if anyone has additional thoughts! — Jeff@StartupWhatever.com]
GOOD NEWS:
We’re living in a time when countless entrepreneur-friendly services (like WordPress, Amazon Web Services, Shopify, MailChimp, Google Analytics, Facebook Ad-Targeting, and MANY others) make it EASIER, CHEAPER, and FASTER than ever before to build, launch, and A-B test a Startup MVP (minimally viable product).
So … it is not only possible, but we actually RECOMMEND getting started in a PART-time capacity to build your MVP and test (prove!) your assumptions. THEN, if/when you’ve achieved one of the aforementioned “OBJECTIVE Indicators”, you will be able to make the “Go All-In?” decision with much more RELIABLE & OBJECTIVE information at your disposal (and investors will have a much better way of objectively evaluating you too!) in regard to whether or not you have an above-average likelihood of success!
PART-TIME PURSUIT OF… *PROOF!
*Proof of Concept?
*Proof of Assumptions?
*Proof of MVP Viability?
*Proof of Product-Market Fit?
*Proof of Reliable Objective Indicators — of above-average success likelihood
PRIMARY PRINCIPLES & PHILOSOPHIES:
(For “STARTER STARTUPS” and Our “PART-TIME PURSUIT Of PROOF” Programs & Improvement Initiatives)
- Entrepreneurial Self-Awareness
- Complementary Co-Founders
- Objectivity Over Optimism
(“statistically probable” > “theoretically possible”) - Bootstrapped / Low Overhead / #HustleFunded
(at least initially, “prior to proof”) - Risk-Mitigation (not risk glorification & celebration)
- Shared Resources / Economies of Scale
- Blurring the lines between Products, Content, Marketing
- Anticipate Pivots BEFORE you’re forced to
- A-B Testing isn’t just for marketing! A-B Test EVERYTHING — even Potential Pivots (on your core product!)
- Short-Term Goals: PROVE Key Assumptions and/or Achieve “Reliable OBJECTIVE Indicators”
- Crawl → then Walk → then Run
- PART-Time Pursuit of Proof (…of Concept, of Assumptions, of MVP Viability, of Reliable Objective Indicators…)
(www.theSWANstartup.com — Sacrificing Weekends And Nights)
JOIN US as we Discuss, Debate, and Demonstrate some Innovative New **S.H.I.T. to SHARE!
**[Strategies, Hypotheses, Ideas, Theories]
P.S.
To the “Startup Purists” out there who are rolling their eyes at any of our thoughts/plans/philosophies, we only ask that you keep in mind that the status quo — (“the right way?”) — currently looks something like this:
