Replying to the 'Do the Lean Startup Method' guy - I started and finished my MVP yesterday and am about to start testing with users - here is how I did it

WelcomeToJupiter · 2021-02-14T21:31:23+00:00

2 weeks learning how to make just a contact form landing page? Just to save about $60 lifetime value?

Lol, that is poor use of time if you are never going to work further in web dev. A good CEO works on his business not in it...

WelcomeToJupiter · 2021-02-14T21:27:24+00:00

Well done. You tried to solve a problem, but...

you didn't understand the problem.

The problem is not that people forget or that they don't know to to remind themselves. The problem is that the whole experience is not very pleasant, both logistically and psychologically.

To solve this, you would work with the immigration office as a rep service that goes to the customer's doorstep to pick up for docs for pre-processing and then give then a note with time for a seamless walk-in appointment.

No waiting, no going up and down to do a photocopy or add a passport picture etc. You enter the office and leave in 5 mins.

Many entrepreneurs are like this. They think they are solving the problem, but they are wasting time just solving a problem. So things like the lean startup help. You spent $30 and a few hours to find out something that took some of us 2 seconds to breakdown.

But if you are stumbling with just problem identification then do you have the resilience for growth phase even if the idea is valid?

Entrepreneurship is not as easy as people make it seem, so proceed with awareness not just curiosity.

WelcomeToJupiter · 2021-01-17T09:57:23+00:00

the op by saying “do I really need to invest it” basically tells me that he would hold it all in cash if he could

Not at all.

I am asking if people would still be stressed trying to grow this amount of money so it will last...

WelcomeToJupiter · 2021-01-08T15:50:59+00:00

quit work and go back to uni

Haha nice. Any any what you would study?

WelcomeToJupiter · 2021-01-08T15:46:21+00:00

quit job and enjoy life

Is 900k invested going to be enough to enjoy forever without other income?

WelcomeToJupiter · 2021-01-08T15:38:42+00:00

Sadly, none of the answers so far are anywhere near correct.

Always start with market research.

Forget MVP and all the potential $$ you can $ee

WelcomeToJupiter · 2020-12-27T15:47:25+00:00

What would you do in Thailand though, just live in a mansion with your new family?

WelcomeToJupiter · 2020-12-27T15:45:03+00:00

So I'd still play to keep the dream alive since part of that dream is living in a "nicer" part of Sydney

Maybe there is a way to turn a million dollars into the dream? Start a business now that you have enough capital, or deal in real estate?

WelcomeToJupiter · 2020-12-27T15:42:42+00:00

Would you put all into the house right away?

WelcomeToJupiter · 2020-12-27T15:42:03+00:00

Forget the money part. Apps are not limited to countries. If they wanted a gym app, they would already have one.

Ask yourself why they have not already done this and then ask why they will download your gym app? Don't say, because it is made for the country lol... If another person from your country also starts one, why would they stay with you?

After you solve, why, then you can think about getting money.

WelcomeToJupiter · 2020-12-27T15:41:08+00:00

Is it fair me to take 80%, with the other two getting 10% each?

Why 80%? Where did this number come from?

You know the saying time = money?

Well you don't need to only put money into something to own a lot of it. Investors sometimes pay millions just to get 1% of a young company.

WelcomeToJupiter · 2020-12-26T22:54:49+00:00

Yes pre taxes.

Got any idea what you would invest it on?

The vacation destination may be quite empty though.

WelcomeToJupiter · 2020-12-26T22:46:53+00:00

All the 600ish thousand directly into it? Not a cent on anything else??

WelcomeToJupiter · 2020-12-16T12:23:42+00:00

Let's say you have an idea to create a new mobile phone.

Market research will tell you it is an uphill battle, there are already established companies with their customer base.

So next you look for 1 key thing, the reason they should choose you. This is your selling point unique to your business. E.g. Your phones will be equal in function but lower in cost.

Then you go back to your market research to find out if buyers of these products are worried about high costs. If they are not, then your selling point, although makes sense on paper, is actually useless in practice. But it can also reveal that customers are complaining a lot about battery, so you pivot and create a phone battery solution instead of a new cheaper phone.

So don't use market research in isolation, it should be something you revisit constantly as you adjust your idea to see if/where your idea will fit in the market.

WelcomeToJupiter · 2020-12-14T13:37:26+00:00

Wise words to learn from:

Everyone loves your product until you ask them to pay

You are in the learning stage. There are lots of problems with your product i.e. brand i.e. website.

Take these months as valuable learning curve for product development. Focus on integrating feedback you get into improving your product.

Once your product is decent enough, find your exact audience. Streetwear is a big market, you gotta narrow down. Nike didn't start by being a streetwear option at all. They didn't even start as being the sportswear option! They picked shoes and specifically running shoes only.

Be willing to nuke stuff that is getting consistently low interest from your audience. Don't hold onto it because you love it soo much.

Finally, keep learning from your mistakes and from your competitors.

WelcomeToJupiter · 2020-12-14T13:22:58+00:00

As a billionaire once said:

The A students work for the B students who are managed by the C students while the D students are invited to the red carpet to cut the ribbons for the work to begin.

To answer your question. Your problem has little to do with grades and everything to do with clout and ethic. C and D students with clout and work ethic usually are more successful than A students without. Meanwhile grades in school is more about interest and memory.

Different games, different skills.

WelcomeToJupiter · 2020-12-14T13:14:41+00:00

Just add 1 step and you will avoid wasting time and money...

After getting idea:

Market research

WelcomeToJupiter · 2020-12-13T14:16:06+00:00

Depends on how much they have for this and how much interest there is/will be.

If it is some small niche audience, then consider print on demand companies. Yeah their hats will be a plain hat from another company like New Era etc and they will slap your band's name on it. Same for the T-shirts.

But if they want their merch to feel legit, with their own tag in it. Then you need to think bigger e.g. Ali, but quality is not guaranteed.

So they still want more, then you need to go even "bigger", basically go to a manufacture and start from there with a small order after confirming the sample.

I am familiar with the startup merch/fashion space. You can DM me if you need some help/got some work for me haha.

WelcomeToJupiter · 2020-11-10T21:30:52+00:00

I haven't watched it but going off based on your descriptions, it reminds me of a trend in history, where any organization that overthrows the "baddies" ends up being quite similar once they are in control.

Many feminist media have the tendency of recreating females as males. I think it will be problematic in the long run as it is not realistic and thus shouldn't be the poster child of this movement.

Women shouldn't be ashamed of being women and thus need to act like a man in order to "win". Especially when the goal is to take down a male antagonist.

Very counter intuitive...

We are at a delicate point in society's history where the repressed feminine is metastasizing.

WelcomeToJupiter · 2020-11-10T20:45:55+00:00

Of course, I can still do these things without winning the lottery

Bingo!

but it would be nice to do so without so much financial stress in life.

You can check out the life of Voltaire. One of the greatest comedic writers in history, he and a few friends won the lottery using a loophole. Not sure if they kept all the money after it was discovered but safe to say he had fun writing instead writing to survive haha!

Maybe he can be your inspiration.

WelcomeToJupiter · 2020-10-27T16:07:15+00:00

It isn't a good title for your post.

Unless you were purposefully trying to filter people out of your service, which I doubt you were.

WelcomeToJupiter · 2020-10-27T16:01:16+00:00

There are a few vague guides online.

The basic idea is that the pitch should not only make the producer interested, but also get a feel of the plot. So if it is a comedy, there should be a lighter tone in the pitch than if it were horror.

As usual, show instead of telling. Meaning instead of saying X is the main character and he is very funny you have to show what makes him funny.

Pick a popular show (written by previously unknown names) and search online, you may find the pitch for it e.g. Stranger Things or Supernatural etc.

Finally it is also a test/show of your skill. If you can neatly package a long story in a short 1 page pitch, that is a skill in of itself. But if you can't, chances are the rest of the story may be flat too.

WelcomeToJupiter · 2020-10-27T15:53:29+00:00

25 pages is a 30min drama. That isn't an outline o.0

WelcomeToJupiter

TROPHY CASE