Stop chasing Unicorns or pretend like one! Adik ka ba?

Stop chasing Unicorns or pretend like one! Adik ka ba?

If you don’t want to hear me rant . Stop reading, as this is not for you.

This article is a wake up call and tips for so many aspiring startup guys in the country. Hoy gising!

The sad truth about the PHL StartUP community ;

Funding, funding, funding!

The community is now infested with apps and startup ideas focused on getting funding! I mean, hello? If you really believe in your product, don’t take funding as an excuse of not getting things done! I mean, why are you creating a product that needs millions of pesos to start with?

This alone kills not just your idea, but your self respect! I guarantee you — this will lead to so many sleepless nights and blaming yourself as to how much of a loser you are that you did not get this funding.

Funding should be the least of your priorities. Period!

If your idea is so great and is life changing. Try losing money. If you can’t stand the fact that you will lose money, friends and probably some family members. STOP!!! Nyeta, its a trap! Get a job! A job that will tell you how good you are at least from time to time.

Get your startup to the point that it needs funding to EXPAND, not to ideate! Give chance to others naman. Wag mo ubusin pera ng VCs para sa ambisyon mo. Meron din kami :)

Kung gusto mo makatulog ng maayos gabi gabi ng walang utang! WAKE UP! STOP doing START UPs. This is NOT for you.
Also kung di mo kayang mangutang — sabi nga ni Du30. S-T-O-P! Stop! This is not for you.

Nothing is more humbling than making a living out of yourself worth. Even if you literally begged for the money to loan, this experience alone will define who you are as an entrpeneur.

Location!

I lost millions of pesos (not to brag, but I’m telling you not to do the same thing again) creating apps/products that I believe will change humanity. I failed! Not because I lack belief or focus, but I lack the network I needed. I was also probably in the wrong location. I was trying to market something that will require me to talk to people in the main office, most of which are located in Manila. So this means I need to spend for more. Too late. I could've, but at that point I lost my main source of income that I can no longer finance my startups. And I’m in deep shit!

90% of the startups I’ve come to know are located in Manila. Why? There’s a reason for that I’m sure. Few of which I state here;

1. Events are mostly held here. While most are free, some might need you to at least bring something or chip in.
2. Most competitions are also held in Manila. So if you need exposure to competition, you might need to wait a little longer before it gets to your location.
3. Your idea might just be very local. Will it work elsewhere? If you can’t get users in Metro Manila — THIS WILL NOT WORK! Honestly, have you heard of an app that said something like — “This worked so well in Sorsogon, this will work everywhere else.” — Do you honestly think investors(mostly foreign) would even know where SORSOGON is??? (I’m from Bicol, btw)

The Indie Film Touch!

One thing we should be looking for in our decks should be the drama! It’s a marketing tool. Get the drama in front. The indie film calls it — the poverty pornification. Dapat nakakaiyak.

Sa foreigners — they will say — Oh shit your country so poor you need help! Your app will help so many people. And we will be rich!

Mag-isip ng drama before you pitch. Tell them how poor you are, and that, at one point you saw the light and heard voices that your app will save the world (OA to, but you get the point?). Investors do not just look at your deck, they will have to feel you. They will invest in you too, not just your businesses. I’m not saying you fake it, but you should highlight it mala MMK!

Reinventing the wheel! — Marami ng gulong

The hundredth monkey effect was talking about scientists teaching monkeys in an island wash sweet potatoes before they eat them, they thought, it was so unique, so groundbreaking. After a few years, they saw monkeys on a nearby island doing the same thing. What?!?!

If you think about it, chances are, there’s somebody else in another world or dimension thinking about the same thing. Your idea might not be so unique after all, but does it work? Will you earn money? Can you run it locally and be IT locally?

Piracy is not limited to the movies. I’m not encouraging it, but what I’m saying is this. Get the idea, improve it, make it local and most importantly make it self-sufficient. OWN it!

I’ve seen probably a hundred StartUPs in the PHL patterned or is doing the EXACT same thing their foreign counterparts are doing. They make it to a point that it get noticed by these counterparts then gets acquired instead. Hey! Brother? You get the point :)

My rants! My 2 cents! If you know better and want to contribute. WRITE!