So what happened to your startup well, I took a break because
That's some other priorities going on yeah, I want to work on personal development
you know building relationship networking and also just overall learning more and
While I was doing that I had to look
over to my old hard drives because I want to find some important documents and some important notes and
I found something pretty interesting and when I clicked into it. You know. I just opened up the wallet and
Oh, and there it is
And then it hit me I remembered you know I used to mine bitcoins. It was probably like five five or six years ago
I remember trying to get enough so that I could buy a pizza slice
But I just couldn't get enough
I mean, I think you had I think you need like ten thousand big ones to get a slice of pizza
But yeah, I only had like a hundred something
But and then I checked the price
And I was like oh
Yeah, and I said to myself my god. What am I and do of all that money? It's crazy all the things I can buy
But then I remembered I live in Silicon Valley all I can afford a new house
Yeah, I guess I'm a homeowner now
But I mean I ran out of money, so I have to start making money again, but yes, so that's why I'm back
The pitch one of the most important aspect of your startup no matter
How great your ideas if you can't convey it, and you don't have any capital then your startup is useless
And if you can't inspire people and you don't have a team already working for you
Then your startup is he useless, but wait what if I can make a product that doesn't require much capital?
And I don't need a team I could do it by myself well
I mean if you can't convey your idea to customers then you're not gonna have any customers
And if you don't have any customers then your startup
useless every
interaction
Relating to your star you will somehow require to pitch it now that is why it is essential to perfect your pitch
Easier said than done. Here are the seven questions that you should answer as clearly as possible with these in mind
You'll be able to do ten-second pitches to a five-minute presentation with demo
number one
What do you do be as clear as possible?
No fluff no potion to test it the email tests write two sentences describing your startup in an email
Send it to a competent friend and ask him to re explain to you with his own words if they can do that then you
are golden
Number two how big is the market?
Investors care about ROI if there's no market for a product then their investment isn't worth it
Don't make your target market too wide or too narrow make it correct. You're only wasting people's time if you're making up numbers
Number three, what's your progress they want to make sure you guys are actually doing something? What is possible in a given time frame?
What can you do?
Number four what's your unique insight or in some sense? What's your competitive advantage?
How are you different than the start of next door? What makes you more likely to succeed in your market number five?
What's your business model? How are you gonna?
Make money or Yuda grow fast think about money later kind of company, or we'd be making money right away
It's always better to have a plan of attack when it comes to monetization
Number six who's on your team?
What are your credentials whose technical? Who's not who's doing? What is everyone useful? Are you as lean as possible?
Number seven what do you want this can be capital convincing someone to work for you?
or
Simply to tell your mom that you're actually doing something and that you're not wasting her life savings on your pet projects and that this
Time it's gonna blow up for sure
Once you have these answers now compress it into 30 seconds. Here's my
My startup is called not fine comm platform to create and share six point one second videos
We have a market size of at least
200 million given the fact that a similar product has just left this market I made
No progress. I understand the market both consumer and producer have been working in the publishing industry for over five months
which makes me an expert in social media and media publishing you can monetize through advertisement branded content and recent posts I
Am currently the only one on my team, and I want you to join my starter
What's your background oh, I just worked on a couple of startups
Mostly just like fitness related startups, so how do you know Jamba? Uh he's my best friend's ex?
What was the break-up like
Pretty bad I
Mean I'm sure Joe must still cries over it we don't
Now you're all here because you're the best engineers ago
Now I need something from you yet and today. I'm gonna talk about my starter. Here's my presentation
velocity
Compassion
Spirituality what do all these things have in common, I present to you not vine calm a
Platform to share 6.1 second long looping videos
Oh, you know I love him, man. You know vine was vine was awesome, but not like it's gonna be better
It's gonna be way better excited. Oh
I
Don't know
Pretty dumb to be honest
Dude, the start of I'd use it utterly ridiculous. I created for starters by the time
I was 18 I can build that back-end infrastructure during an episode of Battlestar, Galactica
Well, I'm just a public delivery guy, but you know when I saw those slides
I thought it was pretty cool, Jonah. Seems like a pretty cool CEO. How did dream it's gonna?
Be like really really successful
And then after that I had another dream about Taco Bell and Wendy's
Creating like a burrito burger so all in all I'm really excited about it
We do work for a start-up. Oh
Dude, no
And what else it's also a mobile. Oh, I think it's great
I love vine and always been with checking those videos and being on it. Yeah, I think it's awesome then they're bringing it back
You do realize it's not vine right
We went
The opportunities research shows that door was a similar product that reached
200 million active users on December 2015 but
That product is no longer in the market and left a need unsatisfied that is where we come in
The thing is a complete and utter scam. It's not only Bitcoin which is legitimate
It's like dumbass like coin or etherium. I would never pay it
Launched roadmap so far. Oh yeah. He likes he's my my follower. He's followed me on Instagram Twitter
snapchat and then one day you just like messaged me and
Yeah, we started talking
Yeah, I think his handle is
at
Joma oppa that's Jay oh ma, oh
And our main competitive advantage
Me
What do you think about Jenna as a CEO oh?
Yeah, he's a really great friend
Jamal is a really bad boyfriend. There's this one time when he forgot Christina's birthday
Because he was so immersed in watching buying videos
Market research let me explain this for you commonplace people if this was Star Trek The Next Generation
I would be Commander data because I'm a genius
He would be lieutenant ward because he's just running around and making
Stupid decisions all the time I bet Joma had to study off Jack Overflow to make it through a fucking Microsoft interview
I would never work for the start-up in a million years not even a million light-years, and that's not even a time
It's a distance now was her business model now. We have a lot of sources of revenue
We got advertisement 70%
Oh, yeah, sure man. I'm just chilling right now, but I'll definitely work for them
Do you have a job right now?
You know I'm in between jobs
You know just in that in between
My mom always says I'm an entrepreneur
What's your criminal record
Next steps
So what we need to do next we need to create the iOS app
We need to make the back-end a lot stronger, and we need to innovate don't was a pretty good guy
He gets Bubba was a hundred percent sweetness, just like Atari John one drinks his boba with 100 percent, sweetness
To match all the marketing platforms any questions. Yes, people are looking for
Yeah, so I'm looking for like flexible engineers. You know engineers who are pretty much full stack back and front
End if you're not afraid of touching all these pieces of code, then yeah, you're definitely good for jobs. You can do that
Would you do with
$420 69 6
Yeah, that's a good question. I mean, I'll definitely invest in not Viacom
I mean we need as much capital as we can so yeah, definitely invest it any more questions
Okay turn to camera
Hey do
yourself interrupting
All right any more questions. What's your tech stack?
Well um
Well, you know like the mean stack. Yeah, I mean we could do that the nice stack - I mean like it is
It's pretty flexible right now. Yeah, so I mean nice stack means that you know it's all good
It depends on what you want. You know
Do you even code
Of course come on. I mean have a CS agree
First of all the name not fine
It's not gonna work
And I don't know I just wasn't listening
honestly
Do you think they make your pitch?
Of course not do I mean I'm not stupid. I know what they're saying, but that's the thing not fine. It's just a marketing scheme
or something bigger
Happy new years everybody was now if you enjoyed this video don't forget to click the subscribe button and also turn on post notifications
Because that will tell you when the next episode of startup will come out and a little update
I have a patreon page now
You don't need to be a patron name thing
But I'm just gonna post all the behind the scenes all the fun stuff that I didn't get to put in the actual episode
I'll put it in there so you guys can check it out and also follow me on instagram at ramappa and twitter at demova
You know so I could talk me together also. Thank you guys so much
I've now reached a thousand subscribers and as a thank you. I am going to do a giveaway more details on that later
See ya