How Investors Think About Ideas - Wufoo Cofounder Kevin Hale
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- เผยแพร่เมื่อ 28 ก.ย. 2024
- Kevin Hale on how investors think about ideas. Startup School is YC's free online program for founders. Sign up to access the full curriculum and over $100k in deals! www.startupsch...
Learn more about YC and apply for funding here: www.ycombinato...
These videos are the perfect length, I hope you guys keep making more of these :)
Kevin, maybe you can get into the next phase....say you already have built the product and you need marketing investment. I think I know the answer is to go prove the product is attractive to consumers...but then it goes back to product awareness/marketing investment. And by the way, any video that can explain what you did in less than 15 minutes-bravo
How complicated things become so simple when explained by the right person!
abhishek mishra Amen
very true ..🙏
You can't properly explain something unless you properly understand it.
How investors think about ideas: "Are you going to make me some money, byotch?"
There. 6 minutes profit.
That's.. actually.. pretty much it. just doesn't sound nice haha.
be more specific, that just how VC work. looking for 10x 50x 100x return. Bootstrap in some situation is a better choice.
I recommend indiehackers.com for people who want to read bootstrap story.
and failory.com and starterstory.com
@@ZhengCheng Thanks man, Love these contents
I have finished watching this video completely.
(我看完這部影片了)
I am a Taiwanese who cares about the global affairs.
(我是一個關心全球事務的台灣人)
And, sadly, most of my fellow Taiwanese don't really care about the world.
(但是，很不幸地，我大部分的台灣同胞不那麼在意世界。)
Hopefully Taiwan can become increasingly globally-aware and globally-competitive.
(希望台灣可以越來越有全球意識與全球競爭力。)
God bless Taiwan.
(天佑台灣。)
Thanks once more Kevin
(1) Problem.
(2) Solution.
(3) Insight.
Thank you! This was very helpful. Concise and data driven.
It's only assumption. where is reliable data ?
@@DeependraTube Data driven in the metrics that go through an investors mind when evaluating if a business can be a unicorn. It's reliable because if certain numbers don't add up like market size, product price and acquisition costs you can tell right away that it's highly unlikely to be a unicorn.
@@slouischarlesYT But how you can get market size. specially for new tech biz ??
It will be only assumption, how would anyone in 2008 can calculate market size for Apps, will be in future in 2018 ??
I don’t think I’ve ever learned more in 6 minutes
Quick and valuable
This was a super concise, thought-provoking experiment from the perspective of an entrepreneur. Thanks :)
I'd love to collaborate with your team to add graphics + animations to support future content like this, send me a note if you're ever interested!
Wow, really insightful and helpful for everyone.
Thank you
thx very helpful
Thank you Kevin
the lighting and background make me feel like he is interrogating me. great video apart from that!
XD
have you done any startup ?
Nice perspective
This is some next level info!
4:52 I was like "Have you heard of Theranos" lol
great video....i have a great idea that i would love someone to create. is there a place within y combinator where you can sell strong ideas to new founders?
Thank you for an interesting video. Just out of curiosity: have you ever encountered at pitch/idea that didn't satisfy these criteria listed, but you still decided to back it? I'm thinking not everthing follows a cookie cutter template of succes
Question. If VC firms and investors only want to scale a business not build a business, where do we go as (legitimate) entrepreneurs in need of seed money?
DeCarlo Calloway Small Business Administration loans.
a bank.
this is correct.
I respect you sir, but sorry I m not agree with you in some manner, because The Steve Jobs once said- This is not customer's responsibility to tell us what they want, this is based on our vision that what should we do that bring a positive change in our customers life or say in the Society.
My knowledge is still very small in front of you. But being a learner this is my vision. I want that you make me understand is this right or wrong? Because I m working on a ideas which is based on this thing. So it will also helpfull to me.
One of my teachers' names is kevin hale
Question is: do all startups need to become $1bn companies in order for them to be attractive to investors??
Yes
Really off topic, but, does any one know what pen he is using?
So based on this logic, you would have invested in theranos?
4:45 Script to camera's right?
That pen felt violated
VC is so corrupt. do not seek investment from them. bootstrap for as long as possible. these people are out of touch.
How so what happened? I'm curious
Could you please tell us more?
Agreed, look at theranos
correct. can attest that
This makes no sense. Shouldn't the formula read $100 * 1M / year = $ 100M / year?
Majed B you’re right. I’m missing that unit, but yes that’s what makes it even harder. That many a year is tough.
Seriously. I dont even understand how anyone could start with a SOLUTION. We have enough problems to solve.
👏👏👏👏👏👏👏👏👏👏👏👏👏
This is a very clear, concise and succinct lesson on how to evaluate the potential of your ideas. It would be awesome if Kevin could go into further detail about the 4 questions.
Those being:
Founders
Market
Product
Acquisition strategy
More videos are on the way :) -Craig
@@ycombinator Any links to follow-up videos would be great!
@@sandipgangakhedkar8183 search for "how to evaluate startup ideas" and “how to pitch - your start up”. Here he goes into detail to everything.
This is super helpful to keep in mind when writing a pitch deck.
Best business video that I've seen in a while. Very concise, simple, to the point, and thus easy to remember.
99% the "investors" care about? " W H O I S I N ?" - they can't understand your business and can't be bother to even try
TRUTH !! Nothing more. ABSOLUTE THRUTH👍🏻💪🏻💪🏻👍🏻👍🏻👍🏻👍🏻
4:28 is exactly how the theranos scam happened.
.......😀😁😂👶
Straight up exactly how Theranos happened, even down to 'Biotech company'
Omg so genius you should teach that to entrepreneurs every ducking day
I love the way, Kevin explains things. Engaging and with no BS
But they r serious things, so speed shpuld be a little slow, so we can think as well :)
A fresh prepsective to vet ideas before spending a ton of resources trying to bring them to live. Thanks
Great explanation, though multiplying the number of customers with their lifetime value to get to *annual* income sounds suspicious.
yes i think he meant the money the company makes per user per year, not the customer lifetime value
your explanation is very insightful...thank you Kelvin
Pro tip: go through this same process if you're bootstrapping, too.
A "problem" isn't needed at all...
A COOL/FUN/INNOVATIVE business idea is enough.
What about a video on how to find investors that are right for your project's phase of development?
One important aspect you forgot is COMPETITION... Someone already solving the problem?? Similar product/service present in the market??
The reason that most founders start with a solution is because it's the natural thing to do. 'Solution' already implies that there's a problem. It might not be the most economically viable one. A biotech founder who knows a certain technique will use that for e.g. life extension by a drug, not with bicycle helmets.
Many problems don't exist until you have the solution. Before, the problem is just the status quo.
Or, solving problems people didn't even know they had is the best. Nobody else even thought. Like personal computers. It was absurd at some point.
My problem was. I’m not making enough to get a Lamborghini.. that’s a joke. Sooo.. maybe some startups can start without a problem, just take a market share of a big player.
Succinct and well presented. Valuable knowledge from an experienced entrepreneur. Please upload more videos.
We are winning
Love these mindset videos like this!
Problem. Solution. Insights. Who will pay.
What pen is that?
Vignesh Sabhahit asking the real questions
@@jasonesg Of course. We all know how to identify $$$,$$$,$$$ opportunities but what about identifying that pen?
Best explanation so far!
Really concise and insightful
Amazing, thank you for this video!
Disagree.., 👍
Some great insights in short form. Highly recommend. Good stuff @YC
How do I figure this out if i have a free app that monetizes through ADS?
he should name the video "what sound like this does to the audience" ))) but otherwise great video
The two may be correlated, story telling and startup success, and you probably can construct an argument for causation but not sure to what degree and whether there is enough variance that the dependency at best may be tenuous.
One of the best explanations of startups I have seen. Clear, simple, to the point.
It is easy to say that my rule is Grantcardone 10X rule :)
Genuis in its simplicity and applicability....Bravo dude
I have finished watching this video completely.
(我看完這部影片了)
I am a Taiwanese who cares about the global affairs.
(我是一個關心全球事務的台灣人)
And, sadly, most of my fellow Taiwanese don't really care about the world.
(但是，很不幸地，我大部分的台灣同胞不那麼在意世界。)
Hopefully Taiwan can become increasingly globally-aware and globally-competitive.
(希望台灣可以越來越有全球意識與全球競爭力。)
God bless Taiwan.
(天佑台灣。)
Very helpful insight. Thank you for posting this video. Would be interesting to hear more about your feelings on startup founders with no tech background but with good social skills/storytelling capabilities and a compelling value proposition.
I would like to have video on three topics ....
Low cost Marketing Strategy for Startup,
How to plan/ innovate new business model, so that it doesn't violate existing Laws clearly, may be in grey area.
How to pick a non-tech conventional business segment, attach tech. to it, and make it ready to scale or disrupt it .
🙏🙏🙏
Yo deep, I think we share similar interest. Wanna chat?
Great advice to the point, thank you for sharing!
Do more of these!
Very informative thank you
Este tipo es un absoluto genio, en serio.
Thank you, very helpful!
Thanks for this insightful video
kevin hale is the best. guy. ever.
y combinator is a scam
Thank you, subscribed.
Very well put. Thanks a lot Kevin!
I am new to the world of investing so this may be an error on my part. Kevin uses $100, $1000, $10K, $100K as examples of the different levels of customer spending (price of the product) per year time the number of customers in each scenario to work out the total revenue per year. A multiple of 10 is then used to work out the total value of the enterprise. I thought the numbers of $100, $1000 ... should be net income (rather than revenue) in the equation. In other words customers need to pay a lot more than $100 price tag in order to for the net income to be $100 depending on the net profit margin of the business. Appreciate someone can comment on this aspect to help me double check / revise my understanding.
Appreciate the clarity
Do you guys need help writing, producing or editing more videos like this? I make videos and I’m here in SF. Happy to help.
The Basis of getting Rich! Find a good Solution to a specific Problem! Could you think of a bothering Problem? If yes, find the solution & get rich!
This guy is gold!
I have an idea that I know if is incubated by the right people that it WILL take off because it is an issue all college students have. How does a college student like me with limited capital and resources turn this idea that i have mapped out into a running app?
Hi Kevin...can you pls clarify what you mean by "build a product 10x" Do you just mean it's 10x better than status quo?
10x better. Cheaper. Faster. Makes you more money. Quality. Durability. Experience. Etc.
@@F0XHALE Thx...and great succinct vid.
math!
I can imagine this guy in Jr. High with his "dragon father" behind the camera telling him what to do and say. His clothes look like between classes at a military academy.
Succinct and well stated.
Great video, but it would be nicier if the speaker would write on a board, to watch the speaker's face and the writing in one frame
Is someone able to better explain the "Insight" portion? What specific types of insights might a founder need to prepare and present to an investor?
Nice video.
Thank you
Amazing, great advice even 3 years later
In the moment he opened his notebook, I thought this was an April fools video...
Brilliant!
Awesome presentation; short, concise and to the point. The only question I have is why the 1 billion dollar is that a required threshold potential or was just for example purpose?
Ciprian Alexandru it’s a good starting point for testing and showing a founders assumptions. There’s a variation that we do as a thought experiments with our older startups where the number on the right is $100B!
I like the way he explains this topic
Wow, so obvious, but so concisely described.
Nice video, Numberphile
Great, tangible advice.