summary: avoid ego-protection - science approach - users that invest money, time, or social capital in your product will give better / more credible feedback - try to get nos faster; allow customers to disqualify themselves fast; important part of sales is also identifying types of customers that will say no - be okay with the feeling of being rejected
For founders, this conversation is so cathartic. My god it hits so darn close to home. Listen to the end. Sometimes after looking at the world with your own two eyes long enough you just want to go back to the way things were for a while.
Talking to a customer or potential partner can be incredibly energizing - much like the Airbnb founders finding the person who had years of notes! I reached out to ten jewelers to sell an engagement ring. Seven responded. One was a really annoying conversation. The last was someone who was easy to talk to and was open to talking more about different startup ideas. We had a great 30 min conversation - pitching ideas, learning about the industry. None of this would have happened if I was still in that initial nervous phase of emailing and eventually calling people. If the conversation doesn't jive, go to the next one. 2022 is the year you build your vision. You got this!
19:04 -" reality is tricky when it's not filtered " - this is the good stuff! we can try to limit uncertainty, but there's no avoiding it altogether. Best to fall in love with that messy process if you're taking an uncommon path--because the trip; even though it's rougher--when someone takes it, they sign up for AP Learning and it can be painful. People watching this video are all signed up...we must love learning.
This is nice way to transition CEO from Michael to Dalton and give him more visibility. Could kind of spot he may be next to steer the ship from earlier videos.
YC, you folks are genuinely sharing so much required stuff... that even with practically bad dilution levels vs other pre-seed / seed investors. I would want to give you equity & make you rich (if I get rich). Share the biggest value add you have to give to with founders (knowledge).. for free!........ Is the most charitable thing to do. Love and deep respect for you all.
The marathon quote is so inspiring. It reminds me of a quote from the Upside of Stress (kind of like the book expanded version of this video) where they talk about how doing something important is like climbing Mt Everest. When you're camping for the Nth night, freezing, cold, exhausted, you're not like "Omg this is the worst." You knew this going in! This is the whole point! If climbing Mt Everest were easy, it wouldn't be great. It's just another night on the side of Mt Everest, and that's what makes it epic and meaningful.
Every single video in this series centers around managing your own emotions and thinking more clearly. Seems like the #1 best way to go is get a therapist
Been loving this series. One of the most practical, relatable, no-frills video series out there. There's a reason ya'll have set a precedent in the startup world
Mr. Dalton Caldwell and Michael Seibel You Guys Nailed it !!! Even some salemen don't get this Concept. Make a sale and make more sales the you will find the truth. Some people don't want to sell they just want a quick anwers with out testing the waters. Great Job Guys!!! See the people and you will find out quick
I think a step further about talking to potential users, we need to talk more about how to get these calls. because in my experience, it is not always the case that somebody wants to sit down with you and talk about it. It is a limited resource
Can you please talk about Hard-tech startups? Can we pitch at the idea stage? When to raise money? What is an ideal MVP for a hard-tech? How to scale it fast, etc.
This is basic stuff that should come natural I agree. The good thing is that if you know that, it makes you feel confident that you do have what it takes to accomplish what you want to accomplish. That you're good enough. Whether you do it on a big stage or in Silicon Valley is one thing, but you can get the job done anywhere and do it in relative silence. So I appreciate YCombinator for dispelling all the much deserved hype in Silicon Valley and inspiring ppl around the globe.
That's what I've been doing with this whole NFT project/brand. I'm trying to put a spin on it . I particularly have an idea about how to turn all of our holders and to creators or at least help push them in that direction
I love how you guys basically spend these whole podcasts trying to convince people to not start companies with some gold nuggets of brilliant advice thrown in
I had an employee mindset co-founder. I even made the start-up environment very "traditional employee" friendly. Big mistake. Start-ups are for gritty people on a mission. Not people who want it nice and cushy. Nothing wrong with wanting nice and cushy, but then go get a traditional corporate job. Forget being in a start up. He did in the end. You're better off being a solo founder than with an employee mindset co-founder.
we are building a B2B service that helps businesses to navigate consumers through the wine selection process. We can definitely talk to the business users, but how do we talk to the end-users (consumers)?
Growing up with a mother who constantly belittles you and puts you down, or a father who beats you like a slave for getting an A- instead of an A will create that fear of rejection. Very common in the tech world.
Hey please discuss about, What if someone is already working on your startup idea, with very less scope for improvement. P.S - I am very passionate to solve that problem.
They would probably be unique to your own companies mission/capablitities. A better question is, what is a good methodology for figuring out those 3 (or however many) questions.
I have only 1 question. I appreciate if you take only 1 minute and answer. 1. I have a an idea of decade. And I don't have MVP. For developing MVP make take minimum 6 months. Do Y COMBINATOR FUND FOR IDEA? OR WE SHOULD HAVE MVP?
Founder: My hypothesis keeps failing when I talk to the customers or validate our MVP! Willem Dafoe: I can help you. You know. I'm something of a scientist myself.
So having 2 or more co-founders focusing on different parts of the business, becomes a great relief for the burden of having all these filters, I guess.
Doing my start up. This is the best advice. A star up isn’t for a faint heart. Rolled out the mvp，reach out to a bunch of people on my network, the response rate is less than 10%. Why would they respond since you haven’t proved yourself? A stat up should try tele market or to preach people on the street and build a right mindset. Assume nothing.. is my coping strategy . Or think about how you respond to an unsolicited call ?
I really enjoy these. It's so easy to get tunnel vision when building. These short talks remind us of the bigger picture we need to be ready for when we climb out of the dungeon after a sprint.
There is 1% difference between ego and self respect.. I was rejected by few investors.. I convinced myself.. Then I started servicing for revenue and generated 0.8 mil in 12 mnths because I had both technical and product background.. which were sufficient for what I need.. I am satisfied with my revenue of 29 M $ in 3 years.. Now I am my own investor, Sir.. and I am your subscriber because I really respect your subscribers and your partners.. and someday I will again pitch in front of YC.. :-D
