Having an idea means nothing but having an idea of how to execute makes the difference. At the end ideas matter especially those ideas on how to execute it.
you must fail 20 (or whatever number) times to succeed once! the difference between veterans and beginners is that the veteran has failed more than the beginner has even tried
I am so glad that I found your channel! Your video seemed to be like validating so many points I found in my startup journey but I was thinking maybe I am making excuses but you validating these points gives me confidence on my decisions. Thanks!
4:13 the idea is what starts the entire thing. It's probly the most important but the easiest to nail down. The other parts to materialize the idea are the hard parts.
I would argue that they're not completely independent events. I'd imagine you gain skills, experience and the network necessary to increase your chances at each subsequent attempt.
Hi Utsav, your content is amazing. I'm so glad I stumbled across your channel! Just wanted to say keep up the great work. I'm sure the channel will blow up soon
Cool video and great chanell. I'm just starting coding and university in the fall so it is great to hear advice from an experienced software engineere.
great stuff. Stats show that most small businesses fail. not only tech startups. But from what I've learned, if you do it correctly, you can improve your odds significantly. I don't know the numbers, but I guarantee that successful founders do much better than the norm in their second ventures. mostly because they work with a good process and such.
Man you're a workaholic. Very commendable but I think you must have exhausted your energy drastically. Just as usual crystal clear insights explaination. Keep it up What is series A, B and C?
I would forget about the fancy label - "startup". Forever. Instead... become an solo indie developer and make your own little thing. Little by little. Make MINIMUM feature set and start to sell it. Even 1 customer will be success for you. Talk to this customer. Improve. Add features. And if you do the right thing, you will get more and more customers. You will not get rich overnight. Nor famous. But it will be your own thing with already established workflows and traction. You don't need massive marketing so that masses of users f***k up your servers, or hackers get attracted. Make and improve your thing slowly. At some point you will be able to hire second developer, or sales person. And so on. Rushing into "startup" bandwagon almost means failing due to many reasons. If only your business model is not to sell ideas. Then go ahead and sell the dreams for friends, colegues, VCs.
Merged/bought out and dissolved into another product. Cannot talk about much more due to NDA. It's a marketplace product related, demand-based, related to food. :)
Why we should first become a software engineer and gain experience and then Start a startup,if we have a great idea than why we shouldn't start a startup now 😕?
First of all id like to thank you for your great content. And i have few questions. You were mentioning about starting your business with friends. How did you find your friends and how can i build a social network?
I'm enthralled by this content. I had the pleasure of reading something similar, and I was truly enthralled. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
Also did you have a full working application before you got funding? would you suggest that a developer have a full working product or at least a partial working porotype before approaching VC's?
This is reallly great insightful video....but will you go inlittle depth like why you choosed to work in microsoft then....your life experience will definitely help me and millennials....amazing work gonna check more videos.♥️🔥
@@EngineeringwithUtsav If you live in The state of Georgia , we can meet up to talk about a partnership between me and you . I want to create a social media platform.
Could you speak about your financials if thats okay with you? Sure u said dont do it for the money but how much can one expect since afterall financial stability is important.
The answer to this is kind of complicated and depends a lot on how your venture does. The most common scenario for the founders to take no salary, at least until you've got a decent revenue stream. That was our case for sure. But, if you've quit your job and you are solely relying on your startup, I suppose it is okay to take a bare minimum as a salary. That is usually an uncommon scenario though. Usually, the seed is to validate your concept and take it to market. Then based on those metrics, you raise series A, B, C... that is when you could consider paying yourself as well. Depending on how your revenue looks like, that may be a basic salary or a competitive one. All depends on performance. Anytime that takes a hit, the founders' comp is what takes a hit the first. You assume the highest risk for the highest stake :) A very common scenario is that some larger company will acquire you before you even make it past raising money. Only a very few make it all the way. Getting acquired is a great option as well, especially if you are a serial entrepreneur.
Hi Utsav, really appreciating the practical knowledge! Can you perhaps point me in the direction of who might be worthy software development houses in India to help me build the 1st MVP (Web and Mobile App). Thank you.
V c: Hello respected@love sir I watch your videos on yt, but i have a que. For you that compny like Amazon has lot of sftdevelopers then what if one of them make or add vulnerability in amazon app how does codes are revised or tested and how do they detect error in their code,I think if you would make video then it would be really helpful for me.Appreciating your work And also if any developer does something like transferring money to his pocket, how does a non tech person would hire and handle them for tech business pls make a video
what is an example of market problems? So like, you want to invent an app or shaving product service but there is another one already and they muscle you out?
sir I am building an online learning plateform when users will get access to tutorials, blog and videos projects and users could post their project , get connected with another users for mock interview. do I need to worry about refactoring my code earlier ?? I feel like I am wasting time doing it thanks I look forward from more advices from you thanks
What if there is a business i m running with my cofounder and the startup is earning 1 million dollars annually....do i need to have a investor there ?? Is it compulsory to have investors ? Cant we two people run the whole company ?
Nothing is mandatory. It depends on what your goals and aspirations for your company is. If your goal was that, and you can scale up from that revenue itself, then no, you don’t need any investment. In fact, many small tech startups do just fine with 1-3 people running the business. The need for investment comes where your business model cannot scale up with just 1-2 people. Very few businesses are self funded or make it without any funding to making million+ in revenue. If you’ve done that already ... congrats!
The problem is new idea is hard to pitch... first of all no financial capability and to pitch ideas to these investors are also risky. Need to get patent and to patent it cost a bomb ..how do I do this....and I'm not a programmer...but I managed to build a demo using Wix...can someone advice me ? And to get a quote from app developer is also risky...
lol... both assumptions are correct. Although I find it funny when people say someone has an accent. Everyone has an accent. You cant speak without an accent ... Americans have American accent, British has English accent, French have French ... so on. Even within, you've got your mid-western accent, east coast accent, west coast accent, cockney accent, scouse accent .. :) I am just one of the accents. Cheers! Thanks for checking out the video.
@@EngineeringwithUtsav for now the answer is "I can't " but I am just 16 year old so, i have decided to learn and ask myself this question again after 1-2 years
