At the YC office there is a whiteboard, now carrying somewhat iconic status, which reminds every single YC founder of “The Process”: once a startup has launched, the novelty will wear off, and the team will find itself in the “Trough of Sorrow”.
I just found a great blog post on the topic of vetting a startup.
A few takeaways:
- It has to be more than a good idea
- What it boils down to is are people willing to pay for the service/product.
- In fact, have them hand over actual money
- In may not work for the “Twitters” of the startup world
- You’ll know that you’ll have revenue as soon as you have a working product
Many entrepreneurs struggle with the very beginning of getting their idea off the ground: perfecting the elevator pitch, finding a co-founder, and getting funded, to name a few. So I created a little viral signup form, for when I have time to build it. Continue reading
This is how I was trying to explain to my last business partner how to approach clients. This is the way to do it: