Definitely, I think it's the main thing I heard from speaking with investors; you have to be really authentic and the problem you're solving has to be personal.
It was what really helped Airbnb and Etsy make it through the struggles of building a true sustainable marketplace that impacts peoples lives. If not, it's just like another corporate job.
Feel free to check out RAVN, would love to hear your feedback. You can use my invite code JWU.
We just finished the incubator program with i/o ventures (http://ventures.io) I think it's certainly a different experience that you would get from YC.
The biggest reason why I wanted to join the i/o class was because of how small it is. i/o only brings on 5-6 start-ups per class which really helps let them focus on making sure you succeed. At any time, we can get a sit down with the partners to bounce ideas off of or just chat and hear about their experiences.
And they're completely honest about their opinions. I remember when we first joined with our original idea (we pivoted twice), Jim flat out said I'm not a big fan of your idea, but I know you guys will succeed somewhere down the line, and that's why I wanted you guys here. And 4 months + 2 pivots later, he's excited about what we're working on now and the potential it has.
One of the best parts was if we ever needed advice around a particular topic: SEO, scaling, customer acquisition, sales, PR - one of the partners would introduce us to a founder who knows everything about it. The best way to leverage advisors and learn from them.
The i/o space is also amazing. I love the fact that it's like a second home. Whenever we're in the city we drop by to catch up with everyone there. And even after the program, everyone still hangs out there.
I think all of the incubators bring a lot of value to a start-up. It really just depends on what you're looking to get out of it ...
I am still waiting for the day someone takes down opentable. I'm at an incubator right now, and one of the partners had suggested we compete with them head-on because they operate so traditionally, especially with their equipment and high fees. There is definitely room for someone to take them on with a new software based model, but I think most start-ups are probably afraid of the sales effort and skills they'll need.
I'm invested in the hospitality industry right now and their profit margins are razor thin at 3-8% for those that survive. Of course on top of high sales it's not too bad, but most say that they were better off before opentable.
I like the comparison of the arts industry to the technology industry. The same can be said for finance and consulting industries. I feel there has been a complete loss of the apprenticeship and mentoring model because of the growth of information. When you discover that the majority of people are selfish, it really turns you away from mentoring. I want to help people that are willing to give back to the next generation and 'pay it forward', but most people take the help and just leave it at that.
I am, but that's because our costs are incredibly low. I have a team of 3 with a monthly burn total of $1,000. We have our seed funding from i/o ventures. Company is called Skyara if you want to check it out.
Very vague on what your service is. If it's possible, I would actually just let them use it for free and use it as a case study to reach out to other larger potential partners. If that doesn't work, an advertising split may make sense, although I would run the numbers a bit on what you think would make sense.
Such a lack of detail in the story. I wish they told a bit more details into whether or not the email was set accidentally to one person (Got the wrong Bob) or if some idiot just sent it out to people out side the UBS network ...
The other problem is even though this is the law, I have had friends who avoid taxi's who don't want to take them because of that sense of hostility.
Unless I'm desperate for a cab, normally I would just find a new one. It's not like SF where there's no way you'll ever find a cab, NY they're so abundant
Of course best with a personal introduction, but many start-ups don't have one.
Pitching services are good to cast a wide net but just keep in mind that there are tons of start-ups that are blasted out on those channels so it's a bit harder.
Definitely try to get meetings just to talk and discuss early rather than asking for money. If you get them interested and engaged in more of an advice perspective, they tend to be more interested later down the line.
It was what really helped Airbnb and Etsy make it through the struggles of building a true sustainable marketplace that impacts peoples lives. If not, it's just like another corporate job.
Feel free to check out RAVN, would love to hear your feedback. You can use my invite code JWU.