Startup Fundraising Office Hours Replay!
Our free Startup Fundraising Video Office Hours help early stage company founders raise money for their startups.
The fun, friendly live video Q&A sessions answer financing and strategy questions from entrepreneurs from all over the world with FREE expert startup advice.
The latest free lunchtime session hosted by our CEO, Scott Fox, was June 25.
To watch the new Startup Office Hours replay click here.
Startup Founder Discussion Questions This Month
Investor pitch feedback and strategy questions about how to raise venture capital money were the topics once again at June's monthly Startup Office Hours.
With an audience of founders and investors from all over the world, the Startup Council was pleased to host the conversations with our CEO, Scott Fox.
Watch the free replay for startup #founder pitches, and the expert #investor feedback they got, including:
- Jauw from Los Angeles practiced the investor pitch for his data sharing and security software platform
- Ketan & Nishan from Bengalaru pitched about their edtech and recruiting platform for friendly feedback from Scott and the chat room audience
- Ana from Serbia had questions about financial projections for investors, and pitched her AI-assisted platform for romance novel production
- Dr. K from Orange County was back with an updated pitch for his universal user interface services
- Jia from London UK asked about the best strategy for his startup to pick a home country most likely to attract investors
- Joe from Anaheim asked about strategies for building his software development team and finding a technical co-founder or CTO
To watch this month’s Startup Office Hours replay click here.
And see a complete TRANSCRIPT BELOW.
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Great to see everyone and congratulations on progress you are making with your visions!
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MasterMinds Startup Fundraising Office Hours are a free community service of the Startup Council.
MasterMinds Startup Fundraising Office Hours TRANSCRIPT for June 25, 2024:
0:00
today it's time to talk about startups your dreams and Visions for making the world a bigger Better Batter faster more
0:06
affordable more profitable Feed the World sustainable place I'm Scott Fox I
0:11
run the startup Council we're startup council.org and we're here to help you the startup council is here to help so
0:18
I'm here today to help talk to you about how to realize your Visions how to take those crazy ideas that are uh in your
0:25
mind and bring them out into the world raising money building teams finding part ners especially finding customers
0:31
and bringing all that to life so that you can make the world a better place so we're going to spend a couple hours well
0:37
an hour hour and a half here and we'll see how many people show up I'm going to turn on the chat room actually let's turn on the chat and invite some people
0:44
in to say hello where is that there we go all right so if you are on YouTube
0:51
welcome if you're on um LinkedIn live welcome to you as well we're happy to have you here everybody come on in the
0:57
chat room the goal of this show is to build relationships because that's really what drives business you can sit
1:02
in your room on your keyboard in the dark and think you're going to conquer the world but you're going to have a
1:07
much better chance if you get out and mingle with real people build relationships that establish trust and
1:13
uh stimulate your brain and theirs so that you can build relationships networks connections and that can lead
1:19
to Partnerships team members improving your ideas finding customers and even yes raising money that's what we're
1:26
really going to talk about here today this focus is on fundraising so we're going to do a lot of startup pitch practice today and I'm happy to take
1:33
your questions and help you out here and there from around the world to see if we can advance your cause and get your
1:39
startup that much closer to the finish line or the success line I should say there's never we're never finished right
1:45
so um hold on one second here got there we go okay so um welcome
1:53
everybody we're gonna have a bunch of people in the chat room and if you are in the chat room please say hello let us know where you're from and we can see
1:59
Stephen Hey Stephen nice to see you and Sean and nice to see you as well uh I think I know you guys are both from here
2:05
in Southern California at least I know Stephen is so nice to see you both and let's see who else is here here's Harel
2:10
I wonder where Harel is from he'll probably tell us in a second here we also backstage we have about 10 people
2:16
waiting so a lot of you are I know you're going to start talking in a second you're how do I get backstage how do I get backstage happy to have you but
2:22
there's only room for 10 people a time that's frankly all the system can handle but it's honestly all I can handle as well so we're g to have those 10 people
2:29
back there and they get first priority on asking their questions or practicing their pitch and I'll give them feedback
2:35
and then people backstage and I'm talking to Joe and Anna and kitan and uh
2:40
miam and Kay and Brian uh when you're finished hopefully you can then leave the chat room and then go watch on the
2:47
public stream over on YouTube or on LinkedIn live or on Facebook or uh where else we Blog Talk Radio all over the web
2:54
basically so hey speaking of that if you're watching this and this kind of thing strikes you as helpful maybe it's your first time here you're not real
3:00
sure yet um so you can you can wait but if you do like this if it's helpful to you maybe you've been here before can
3:06
you please like And subscribe visit the YouTube channel especially or in LinkedIn make a comment those are you
3:13
know that's what drives the algorithms and helps us support our mission I do this for free the startup council is a volunteer effort that I put together to
3:19
try to help folks like you so if you're here today please support our work with some likes and comments and so forth
3:25
because that's what drives the whole machine as you well know so who am I I'm Scott Fox if you don't know me I'm a
3:31
Serial internet entrepreneur I've been building internet companies uh for 25 plus years now I got started with that
3:37
when I was in Graduate School of Stanford back in the good old days when uh internet companies were a new thing
3:43
and I've been doing it ever since these days I'm mostly an angel investor and I spend most of my time giving back to the community by trying to help early stage
3:49
Founders all over the world I have a special sympathy and affection for uh first-time Founders immigrant Founders
3:56
female Founders and anyone who's underrepresented or frankly underap apprciated I mean any good entrepreneur
4:01
feels underappreciated but the fact is most of us some of us are more underappreciated than others right so
4:06
this is a a feel good effort trying to help you guys find each other and I'm just here to facilitate so please go
4:12
ahead use the chat room tell each other who you are put in your LinkedIn profile link or your website go ahead and
4:18
promote your company don't get spam me we'll have to knock you out but but just be helpful right I don't have all the answers I'm just a facilitator the
4:24
answers I do have are actually in these uh these books over here so these three in the middle are an English as you can
4:30
see uh click millionaires being the most recent one and the others are foreign translations so there we have let's see
4:36
that's Japanese and Turkish and Russian and polish above that and Vietnamese
4:41
down there so if you're um if I'm talking too fast my English is too too
4:46
quick for you I apologize maybe my books will help you in another language as well and of course they're all available
4:51
on YouTube and so forth and I donate the profits from that to charity I'm not trying to make money off the books I'm trying to help people so here we go
4:58
let's see now let's just say hi to everybody in the chat room and then we're going to get going with the backstage folks to get started and I can
5:04
see kitan and Anna and Joe and Je yeah maram will'll be here in a minute and um
5:09
let me just say hi to the folks out in the public chat room because we've got a bunch of people here now they rearranged
5:15
the UI here once again I don't know why they think they're so clever in changing
5:20
things no that's not what I want give me one second here guys want to appreciate
5:25
you all for being here how do I
5:31
no what is all this nonsense okay well I can't get out the chat room that's real helpful so um well let me do a sound
5:39
check real quick also I presume you guys can hear me backstage folks can give me a thumbs up like miam or Jia yeah you're
5:46
nodding okay thank you Sean yep thank you Anna okay all right I'm coming your way in a second I just wanted
5:51
to man they all right one there it is okay hide it okay so
6:01
let's just say hi to who those folks who got here early and welcome them to the
6:07
chat come on now this there we go there we go okay so
6:16
we got uh Tomy mafu and Stephen Hey Stephen nice to see you Basil hey basil
6:23
nice to see you as well basil I think you say basil don't you and let's see who else we got here Sean and
6:30
Yama from Estonia nice you maybe get the award for farthest away who can beat uh
6:36
Yama from talin and Estonia I bet there's somebody even farther but let's see and Rohit and Paris who's not from
6:42
Paris but from Portland D David who's also in Irvine Jamie from NYC Scott is
6:48
that's me I'm Scott and Bon Juan is in Amsterdam that's pretty far llo from LA
6:54
Johnny from Anaheim another La That's Mike Warwick Rhode Island Paul right so
7:00
that's pretty far if you're still in the continental United States anyway because I'm here in Southern California those who don't know and there's Larry hey
7:06
Larry from Costa Mesa Andre Andre you made it back to DC excellent Andre is a guy who comes to a lot of these programs
7:12
and he showed up at a conference I was hosting uh we had a tech week Irvine Tech week here in Southern California a
7:18
month or so ago and he showed up in person it was so surprising and nice to see him and then I know he's been
7:24
driving back so it looks like you made it home congratulations was great to meet you in person there's Rick from San Louis abis oh Daniel is a music industry
7:32
startup partiall is from India okay so I don't know from where I am is Estonia farther or India not sure and then basil
7:39
stevenh Tommy and another from Holland super hazman excellent all right well nice to see you all and of course you
7:45
can use that chat room that's for you I can't keep up with it quite but you're welcome to talk to each other and Basil's got the right idea he's posting
7:51
his LinkedIn there uh you can and Stephen as well of course you can find me on LinkedIn I'm easy and while you know mentioning that please do go and
7:57
like and follow us on LinkedIn and that's part of you know the services we provide you'll get a lot of updates if
8:03
you follow us on LinkedIn because we post a lot of stuff there and in fact let me do quick two quick commercials
8:09
then we're going to go backstage so the startup council is a free community service organization we have seven different newsletters seven that you can
8:16
use to learn more about building startups finding investors uh all the
8:21
things that you need we have events calendars um uh you places you can list your startup places you can find
8:27
investors Etc ET so there's seven different new newsletters and all those newsletters are free so uh I would go
8:32
and visit that I'm building it for you again trying to help so that is a good idea our sponsor today is the national
8:39
startup directory this is a service that I built again for you because I didn't see a centralized place where startups
8:47
can list themselves and why would you want to do this so that investors can find you we investors frankly we're kind
8:54
of lazy or at least we're busy right and it's hard to find good deals so if we put them all one place I'm thinking that
9:00
maybe that will make it easier for you guys to have investors find you so this is it's a test like everything else but
9:06
uh we've got some good listings there and here's the that's the business card I hand out if you meet me in person but
9:12
that's the graphic it's not focusing very well there National startups directory.com is what I'm trying to show
9:17
you there we go uh and you can go there and there's a code on the screen SS
9:22
viewer and you'll get a free listing I think it's a year for free right so just go ahead put your listing up there and
9:29
you can share as little as you want or as much as you want all the way up to including your financials investor deck
9:34
the more you share the more likely investors are going to find you and appreciate what you're doing but of course it's up to you and don't say anything confidential or stupid all
9:41
right and speaking of that I do have to say one more disclaimer and we'll um get on with the show and that is this which
9:48
is this is not uh legal or financial advice this is just for fun I'm trying
9:55
to put this on the screen there we go this is not qualified legal or financial advice I have a law degree and financial
10:00
background but you are not my clients this is just some guy you met on the internet trying to help you for free so
10:06
if you have real issues and I know we all have issues please find your own qualified legal tax and accounting and
10:13
uh chiropractors and everybody else that you need to get to get going also this show is being shared worldwide and is
10:20
recorded and archived online worldwide so again don't say anything too confidential we're here to help it's all
10:25
in good faith and here to help you have fun and build your company and one last pitch there go ahead and
10:32
comment on LinkedIn and YouTube and that will drive our algorithms and help us reach more people and please do invite
10:38
your friends to join us we're live right now as you could tell so if you um have friends that are interested in this kind
10:43
of thing please tell them that we're here and we're getting to work all right so now enough Preamble let's go over
10:49
here and let's bring on all our friends and here so here's what we're going to do right now guys is uh I'm going to
10:55
invite you all on camera the the eight or 10 of you that are back stage and we
11:00
want you to we're just going to have a quick um conversation about what it is
11:06
you want to talk about okay and I just need the quick version um so that I can figure out what order to take this in
11:11
all right and we're going to do some pitches and take some strategy questions and especially around fundraising I do this because I don't find very many
11:17
investors who explain what we do and I'm trying to be helpful and explain to you from my point of view I mean it's my
11:23
lunchtime right I just here's what we do and here's how we think because it's not the way that I guess normal people think
11:30
uh we have a particular way of looking at the world that will help you raise money if I share it with you so start up
11:35
fundraising questions and pitches okay so let's bring our friends on who do we have backstage we have Katan and Anna
11:43
and Joe and Jay J if you want to come on turn on your camera please Sean and okay
11:49
that one's loud who was that not maram somebody's we're gonna have to
11:54
mute you guys yeah there thank you somebody muted okay Sean and K
12:00
and who else gas turn his camera on cool and Joe as well okay so who do we think
12:06
first of all give me a wave hi guys nice to meet you guys happy to have you here um we'll do our best to have some fun
12:13
today somebody's kind of loud though so just give me a sec here not not you Joe no are you all muted
12:22
somebody please mute yourselves that's easier than me doing it wasting everybody's time it's not there Sean
12:29
sorry Sean um you need to mute or do something or I'm we're gonna have to ask you to leave okay
12:36
Sean yeah all right you working on it okay I'm gonna mute you for now and okay so here's our friends for today a nice
12:43
group of people so let's just go around I like to just go around each of you and just give me the the seriously like the
12:48
10c I have a question about finding Angel Investors or I want to pitch just give me that and I'm going to take notes
12:54
and then we'll work it out and I'll come back to all of you because you guys are here thank you for coming early and finding the link and following I know
12:59
there's a lot of instructions I do this by myself so right it's it's you're helping me and I appreciate it so um
13:05
let's just go we'll start with uh I'm just going to go in the order we have on the screen here so who is this sorry I
13:11
don't know all your names um it's great to have some new faces here looks like uh that would be Joe Hey Joe do you want
13:16
to unmute and just give me the quick version of what where you're from and what do you want to talk about today hey
13:22
I'm from uh Orange County California and I'm here to talk about uh Venture
13:28
Studios and the like uh kind of Which models you prefer uh or are available in
13:34
the area to kind of go ahead and you know find people to work with and uh yeah and build so yeah I know there's
13:41
Venture Studios accelerators incubators co-founders you know so great chatting
13:46
about those okay excellent thanks Joe all right we'll come back to Joe and next up it looks like uh on my screen
13:53
looks like is Gia hi Gia thanks SK uh I
13:58
have a question in terms of how to choose a location to re fund for our business we currently received a few
14:04
funds in the UK but our customers and one of our co-founders are many in China and we we're hoping to ask like what
14:11
factors should we consider for the next round that is a great question I don't think anybody's asked me that before but
14:18
that's something investors worry about a lot so I'm glad you're here that yes we'll definitely cover where are you though are you in the UK or are you in
14:24
China today yes yes yes UK cool all right nice to meet you
14:29
okay and Dr K looks like you're up next how are
14:34
you it's like you need to unmute though unmute
14:40
please no oh you can't oh you're just listening okay all right he's just an observer today looks like all right
14:46
let's try Sean Sean if you unmute how are we doing El I've got you muted hold on a second okay try
14:54
again no
15:03
[Music] Sean cool hey I'm from s Francisco Bay Area I'm the founder of unlock
15:09
Investments I'm here to do a practice page great okay you got to do something about your we can't there's a lot of
15:15
feedback so um go ahead and mute yourself you're an adult you can figure it out probably but you need to change
15:21
your microphone or something it sounds like it's picking up the whole room right so maybe if you have an actual microphone that would probably be better
15:28
okay but we'll come back Sean nice to see you and happy to have you pitch okay and then next is
15:35
um who is this Mariam hi Mariam nice to see you hi SC hi hi hi everyone I'm I am
15:45
minan coo and founder of globali and Global is an AI powered immigration
15:52
platform that revolutionizes the complex world of immigration by offering personalized Visa options globally and
16:00
connecting individuals with lawyers and job opportunities uh actually I'm here to
16:06
learn what's your what's your question do you have a question or do you want to pitch or not for today but next time for sure
16:14
okay then can I that's awesome happy to have you here but can you leave here and go over to youtube.com and watch on
16:20
YouTube because other people are going to want to come in here and use the pitch happy to have you this is for the people want to talk awesome all right
16:27
thank you nice to meet you I'd love to hear more about your startup please come back again all right next and thank you for moving on let's see here let's see
16:35
oh look at that there's another all right who's next then nice to see that let's try that and then who did I miss
16:43
um this looks like Anna Anna hi you want to unmute and tell us just just ask tell
16:48
me what your question is just hi hello my name is Anna I'm
16:54
come coming from Serbia so it's N9
17:04
you're cutting out I got that you're in Serbia which is super cool and it's about 9 I think you're probably saying it's 9: at night there so thanks for
17:10
staying up but I lost the rest of it are other people hearing her I'm
17:15
not no okay Anna sorry hear me now oh there yes good go ahead I would like to
17:22
P My Idea uh to practice and uh I have a
17:27
qu general question about the fundraising concept how that goes because now when I have the idea now I
17:34
learn about business angels Venture capitalists and there are different kind of Investments and that's a new field
17:41
for me I do have an idea but I just not sure how to raise the money and I would
17:48
like to practice my pitch okay great well hopefully we can do both of those given the time available and then we
17:54
have my friend kitan is here as well right go ahead how are you
18:01
yes SC first of all thank you for the invitation so everyone this is kitan and
18:06
I'm the founder of amoi and here we have my managing director I'm Nishan I'm the
18:12
managing director of amoi together we are revolutionizing education by offering a platform that connects
18:19
Learners Educators and recruiters we are we are leveraging the powers of internet data science generate AI to address
18:26
existing problems in e-learning system and we are for the investment pitch pitch okay that's what I needed okay
18:32
pitch all right where are you guys today you're in India right yeah we are from Bangalore India Bangalore okay start Hub
18:38
of the world the next startup Hub of the world exactly right yeah India I was speaking on um on Saturday at an Indian
18:47
event here um as a big charity called smap I where's the uh it was a celebration of well
18:57
anyway there's a bunch of folks from shiv Riva Bish's anniversary the founder
19:03
of the the uh Mumbai the king of Mumbai from 350 years ago something like that
19:10
the name was so long I couldn't pronounce it but it's a wonderful bunch of people and such exciting we really love your program so we keep suggesting
19:16
a lot of people to join your program as well excellent thank you well I'm going to be in India in December for sure um
19:24
yeah probably in Bangalore actually so yeah let's let's keep talking great to have you here okay did I get every hold
19:31
on let me uh rearrange things how we I can't see everybody oh there's another sorry so many toys on here it's hard to
19:37
it's easy to get distracted what is this one there we go okay so I'm missing this
19:43
gentleman in the cap Jiao hi I'm the CEO of cynical and I'm here to pitch okay
19:49
wow that was concise thank you where are you today Jo I'm in LA in
19:55
La okay cool all right well thank you all so that's what I needed so let me just uh take a minute here I'm going to
20:00
turn you guys off again and then we'll come back one at a time as we figure out uh how to uh uh make our show happen so
20:09
we've got a couple pitches and a couple questions and um let's see excellent
20:16
looks like you guys are working the uhchat room okay K you want to come
20:22
back in are you I see you there okay and you want to pitch okay got it I see that in the chat all right so we've got one
20:29
pitch two pitch three p four pitches okay four pitches and a couple questions
20:35
oh Sean was a pitch too I think yeah a lot of pitches today okay V Venture
20:40
studios Okay so well let's get on with some pitches and then we'll come with the uh couple questions as well we'll
20:45
kind of mix it up back and forth and the um so the pit here's how the pitches work so the pitches are two minutes or
20:52
less I it doesn't have to be two minutes uh a minute a minute is better right but the idea is it's an artificial length of
20:58
time but the idea is that you need to practice saying what you need to say very quickly because investors were
21:04
always in a hurry right and there's always if you meet us privately we're in a hurry if you meet us publicly there's
21:10
often a line of people that want to talk to us right so we don't have time to have lengthy conversations and I see
21:15
this all the time and I feel so bad for the founders because this is a big moment for them and yet they want to do
21:21
this long introduction it's like sorry I do this all day every day tell me what you do why it matters right now and what
21:28
you need and then we can decide if there's more to talk about I can't stand around for the whole story and I know
21:34
it's a good story I'm sure it's your life right not trying to minimize that but for somebody who sees dozens or
21:40
hundreds of these every week or month I mean I've seen thousands in my career I just need to know real quick just so I
21:46
have any idea of what you're talking about right because if you're an AI in you you've got an AI company but I'm a
21:51
Medtech investor then I'm I'm that's great but you know I can't really help
21:57
you right so let's both move on right so anyway so this is a two-minute pitch no slides just trying to give you a chance
22:04
to you know kind of test it out and see what it feels like to talk in front of a group and then I'm happy to offer some feedback and please also all of you in
22:11
the in the chat room I know everybody here you know there's a lot more expertise than than just here everybody
22:17
worldwide you have a lot of good comments and insights and you're um you know professional people who've probably
22:23
seen and heard a lot of pictures as well so please contribute also in the chat room your feedback on these things
22:28
things all right so let's go I guess who was first um or last Jiao sounded like you were ready R to go would that be
22:35
okay let's let's bring jaia on I know I'm not sure I'm saying your name correctly I'm that's the right thank you
22:41
pretty close Okay cool all right so um those rules sound about right two minutes or less and just kind of let us
22:48
let it rip and then we'll we'll offer you some feedback does that sound good sounds good okay so yeah hi everyone I'm
22:54
J CEO of cynical I'm making your data virtually leak proof bre proof and theft proof unlike other data sharing tools
23:01
that rely on username and passwords or Cloud servers through rout all your data our product eliminates both logins and
23:07
server middlemen so with us there's no server layover for your data no other computers making copies everything goes
23:13
directly to the other user like magic um today data breaches are unavoidable and put users at Perpetual risk with zero
23:19
control over their choice of server providers and security behind it but with us your data stays yours and data
23:25
security and privacy becomes accessible to everyone not just the extremely techsavvy person so you can say goodbye
23:31
to Crazy password requirements multiple authentication emails we're going to protect your data without the complicated mess of self-hosting your
23:38
own server and or Keeping a Secret book of all of your passwords the end the end that was
23:46
excellent so I'll give you some feedback do you have an Ask that's the one thing is are you raising money or you just
23:52
practicing what are you looking for got it okay yes we are raising money we're in preed funding okay okay do you want
23:59
to give any indication you don't have to and just this is your opportunity just as practice right would you say
24:04
something like we're raising $500,000 at a $3 million valuation or would you say
24:10
you know what I don't know what you'd say have anything specific you'd add oh I see I see uh for us we're
24:16
raising um below 500k for preced funding yeah okay so that's a great start so
24:21
that was everybody that's how it's done nice nice job Jo you set the bar pretty high um so what I would say is the first
24:28
one is the ask so the well two things one anybody who's here pitching is smart
24:34
because you want to take every opportunity to pitch you never know who's listening right and it gives you a
24:40
chance to practice so I was at a conference a month or two ago at a local community college and I was one of the
24:45
pitch judges and as they were getting ready for things to get going uh the
24:50
host the MC said who wants to pitch and the people were going to pitch were all so nervous they you know they were busy
24:56
but the audience was full of other founders and nobody raised their hand so guess who pitched me I got I got I got
25:03
300 people here I got something to say what am I going to say so I told them about the services the startup Council provides and that wasn't what they were
25:10
expecting but whenever there's a microphone just as jia's doing grab it that's your job man you're in sales
25:16
whether you like it or not if you're a Founder you're in sales so this is all this is positive reinforcement job nice
25:21
job um okay so very nice pitch it was concise you spoke clearly and slowly but
25:28
not too slowly that's nice uh anybody you know you have an accent that to my ears is very clear anyone who's pitching
25:36
American dudes like me and has an an accent that is different than mine be
25:41
sure you slow down because it may not be as clear to us as it is to you but J doesn't have that problem because we
25:46
both have that kind of West Coast American sort of inflection um the O So
25:52
now more specifics and actually that was one of the things you did best I think you had a lot of specifics but you
25:58
didn't give away the secret sauce so it was very nicely done I'm serious um you said a lot of specific things about uh
26:05
you know getting rid of passwords and layers of encryption and the servers this and
26:11
that and then you even had a fun anecdote where you can get rid of the little book of all your passwords right those specifics are really good because
26:17
I can Envision it and yet you didn't tell me exactly how it was done so it's
26:23
frustrating to me but that's a good way it's like I want to know more like well who are you like are you why are you so
26:29
good at this are you know you have a PhD from MIT and cryptography or you know like who is this guy and you how's he
26:35
going to do this and and you know you didn't really say much about how it actually works so usually engineers and
26:42
I don't know if you're an engineer or not but I'm guessing you're at least have some engineering background with what you pitched usually Engineers want
26:47
to tell everybody all about how it works without telling us why and you did the
26:53
opposite which is actually really rare and really good you told us why and left me one wondering what the what was
26:59
that's really rare and really good so um yeah seriously that was really good the
27:05
other thing you did that I think everybody else should emulate is you had an opening line I don't know if you have it written down but you had a opening
27:13
sentence that said kind of quickly what you were going to talk about we're a company that does I can't repeat it I tried to write it down but it was we're
27:20
com we does this this and this that's really helpful because a lot of people tell a story they kind of say A and B
27:27
plus c and therefore we do D but I don't know what you're doing
27:32
until you get to D so it's really hard for me to know if I'm interested or not like I said investors are impatient so if you lay the table first say you know
27:40
we are an ice cream company and we specialize in chocolate ice cream cones got it now you can unpack it right and
27:47
you give me that line again you said something do you remember what it was it was a nice opening line um I think it
27:53
was uh we're making your data virtually leak proof breach proof and theft proof great so you see guys that's it's like
27:59
it's eight or 10 words so I know it's about data and it's about security that tells me immediately okay at least I
28:06
know where he's going because you we see so many pitches I don't know if he's when you start if you don't tell me I
28:11
don't know if you have a a food tech company or Aerospace or AI or it's some kind of heart new heart valve
28:17
replacement we don't know so an opening line like that is really good so basically I don't have anything to complain about except that you should
28:23
work on the uh like I said always have an ask and it doesn't have to be fincial
28:29
you know you don't have to be ready especially if you're not ready to give specific numbers you could say like you did we're running opening a preed round
28:36
that gives you an idea it's you know probably 50 to 500,000 or something like that that's probably close enough if you
28:41
don't want to be more specific but even if you're not raising money and this is why I brought up the example of me at
28:46
that conference recently even if you're not raising money if there's an audience ask for something somebody gives you the
28:53
microphone say you know I'm looking for uh a co-founder I need a marketing person you know I need office space you
28:59
know does anybody know how I can lower the interest rate on my credit cards I mean what whatever right because Founders have the same problems all over
29:05
the world and the other Founders will want to help and the investors and mentors in the room well they're there
29:11
to help too so unless you tell people what you want then you're pitching kind of for nothing right and that is the
29:16
only mistake you made and this is obviously it's not something you've done a ton of right but you did a great job
29:22
so just add and ask and I and I think you'll be in good shape so very impressive uh let's look at the chat
29:27
room see what our friends in the chat room say they think um let's
29:34
see uh scroll back here um great info so
29:39
slower the pitch rate a little okay slow down yeah we solve the problem by XYZ it would be great to learn about XYZ how is
29:47
it different from bit warden for example this is Andre the guy from DC I was talking about those are good insights and he knows a bit about this stuff so
29:53
those are good uh is there enough time to add traction points that's a great one David chimes in um traction points
30:00
meaning what have you done to date and that's always interesting to investors especially if you have something
30:06
significant that you've achieved you want to work that in and again this is an artificial length of time so if you
30:12
had 10 minutes you'd obviously have room for a lot more right and you did this quickly so but if there's something that you've done well don't save it for later
30:20
I see that a lot people will give like even like a 12 minute pitch and at the end they'll say oh and we have 14
30:27
patents and FDA approved like what that changes the whole trajectory of the conversation so don't hide don't hide
30:34
the the bonuses um okay anybody else I
30:40
think that's all we got so far and more numbers that's a good point yes that's a good one too yeah numbers
30:46
investors eat numbers that's one of my catchphrases so if you can if you have any numbers that you add next time and
30:53
that also goes to David's traction Point whatever it is you know we've signed up 14 customers or we have a mailing list
30:58
of 50,000 or anything like that just helps people uh demonstrate the idea
31:04
that someone is interested other than you and that's important right we see a lot of Founders who may be brilliant but
31:12
it's mostly in their own minds and until customers or team members especially customers are have proven that they're
31:18
interested also it's kind of just Theory and investors don't invest in theories all right so big round of applause for
31:25
Jia nice to meet you J hope to see you again please uh tell your friends and uh that was great looking forward to hearing more about that one from cynical
31:32
was his company go ahead post if you want Post in the chat room um J about uh the name of your company and if people
31:39
want to reach out to you and so forth all right so that was pretty good H that was a good start we're off to a a good
31:44
start today one down so let's do another and then we'll do some um we'll do some
31:50
questions I'm gonna go to Kon and uh was it Nishan I think uh I didn't quite
31:55
catch your managing director's name there but hey guys I know it's late where you are what time is it where you are it's uh it's almost 1 1:30 1:15 in
32:05
the morning in the morning yeah in morning right okay don't forget that part so these guys are up in the middle
32:11
of the night so let's let them go first or second I should say um and let's hear a little bit about your pitch so you got
32:16
the vibe a couple minutes or so let us know and then we'll all try to give you some feedback all right so exactly hi
32:23
everyone this is kaan and I'm the founder of am I come with sales and marketing background
32:29
I'm Nishan I'm I'm the managing director of the company and I'm I'm handling the operations of the company so we are here
32:34
to solve the biggest problem for the Educators as well as the students as well as the hiring Partners so hiring
32:40
partner doesn't get the good recruitment students want to learn for free but don't have enough funds and mentors they
32:46
want to educate the students but don't really have the platform to do that
32:51
that's that's the reason we have created a e-learning platform wherein we can connect Learners Educators as as well as
32:58
recruiters so we are providing personalized learning resources for the students almost at a free cost as well
33:05
as we are helping them keep up with their productivity and uh we are providing data driven decisions for the
33:11
for the Educators to improve their education as well as a scalable source of revenue for them and then we are
33:17
providing eligible candidates along with their performance dashboards to the recruiters helping them save their
33:24
valuable time as well as efforts so this was our page uh we definitely want to
33:29
pitch more but as the time constrains and our ask is uh it's 100 $100,000 for
33:35
5% of the company we are a bootstrap company we have arranged the funds on our own till the moment we have 80
33:41
prospects who are willing to buy and we are seed and definitely we have data of worth uh data of 25,000 leads and we
33:49
have a distribution network of 300,000 on in Instagram and 20,000 on LinkedIn
33:54
which which is around 500,000 distribution Network and we I worked in a similar domain where we have a
34:00
conversion ratio of 8 to 12% so it's it's going to be pretty wild in coming days and we have collaborated with
34:07
around 600 colleges ac across India excellent you finished yes okay
34:16
excellent that was interesting um and it got more and more interesting once you started giving me the number so my
34:23
initial um so first of all good job everybody we can't in person we always give everybody a round of applause but here it's just virtual so that's all you
34:29
get but nice job thank you so um couple
34:34
very interesting okay so investors at least investors in the United States we're very tired of edtech startups
34:42
anything with students and educational institutions scares me but here's why it doesn't mean you shouldn't do it it just
34:48
means that so many people have tried this and and died or lost their money
34:53
that it's at least for my me and the people I know as soon as you say something like what you're talking like
34:59
oh no not another one so the numbers that you have put those up front right
35:04
tell us this is actually happening this isn't an idea that traction is demonstrates that you're actually doing
35:10
something I think you said you had 600 colleges and an 8 to 12% conversion rate like those are numbers like I'm
35:15
immediate I'm an investor right I'm doing spreadsheets in my head immediately right so 600 colleges average enrollment of couple thousand
35:22
eight or 12 so call it 10% conversion okay I'm doing numbers in my head as you're talking trying to figure out how
35:29
big this business could be so that's really important especi this is true for everybody frankly but especially in
35:34
edtech because as you guys probably know there have been several waves of edtech just like with crypto right it's really
35:40
hot and then it dies and it's really hot and then it dies so if you are the new version of edtech um and this kind of
35:46
hiring and HR too right you're kind of in between it sounds like edtech and Human Resources there been waves of that
35:52
so you need to immediately break the pattern for me as an investor and say this is different
35:58
so part of what I would recommend is something about why now because again
36:03
where are we on the cycle and why you you nicely worked in your background and
36:08
some traction so then the reason the next question is why now and what's different about you because there's so
36:14
many competitors so that I'm giving you more um critique than than positive
36:20
because it was actually it was very good I'm trying to help so also interesting um just smaller comments and everybody
36:26
in the chat room go in come back and and um and and share those as well um it's
36:31
unusual to have two people pitch most found most investors will say don't do
36:37
that because it's confusing I love it I think it's better
36:42
but you should just know if you present like I one of the Angel groups I'm involved in is called Tech Coast Angels
36:48
it's the biggest Angel group I think in America these days um people come and do what you did and everybody complains I
36:55
don't know what so I think it's great because it shows that you have more than one person and that you work well together right I can understand how you
37:01
fit but you should just know some people will uh complain about that and give you
37:07
know knock down your score or whatever right so that's a choice that you have to make I I like it um
37:13
second he's the managing director that that I don't know what that means um so
37:18
if he's a Founder say he's a founder or a co-founder or you're the founder or you're the CEO at least in the United
37:24
States the the phrase is CEO the CEO and founder and then co- Founders managing director is a important title but it's
37:30
not specific as to what the responsibilities are so I honestly don't know if he is I don't know who's the
37:35
boss here is the managing director higher or lower than the other person I don't know so just you should be
37:41
specific and whatever's comfortable with you guys is fine but that part is confusing to investors if you use terms
37:46
that are not clear usually a term has a c you know I'm chief executive officer
37:51
Chief technical officer or I'm in charge of marketing and the other guy is CEO
37:57
then it's clear to me so just little thing culturally that might be helpful um something you didn't say was whether
38:04
the company is in the a US base or not investors and this goes to um Gia's
38:10
question later about how to set up a company to raise money is the company in
38:15
is it a Indian company or is it a US company it's Indian company Indian company okay so you should say that
38:22
because that because you're raising in US dollars right if you'd been raising in rupees then would have been more
38:28
obvious to me but if you're raising in and that's fine just say it so I know um as an investor I really can't invest in
38:34
Indian companies not because I don't want to but the tax laws are so different in the United States that even
38:40
if I made a zillion dollars in India I couldn't really get it back so you just need to be careful about who you're
38:46
talking to actually the thing is Nishant is coming to us very soon ah great well
38:52
then say that that's perfect u in which case you're going to need to have a US entity and that's usually a a SE
38:58
Corporation that's a type of Corporation that's based in Delaware the US state of Delaware so you're going to want to create a SE Corp in Delaware and then
39:05
Americans could be interested in investing um okay so that was really good um just looking what else yeah
39:12
that's probably enough just be careful about talking too fast again because your accent is a little different than mine you can slow it down for me um and
39:19
but I know it's it's you're nervous right so just just be careful practice makes better so really nice to see you guys thanks for staying up late uh I
39:26
hope that was useful oh sorry we're going to look at the chat room as well let's just see if anybody else has I bet you they liked it because I thought it
39:31
was pretty good let's see what other people say uh uh yeah well this is Andre saying
39:38
what I was saying here most PE most of the time when it's a group it's distracting but you rehearsed it so it
39:43
sounded great shows that you work well as a team so yeah that's kind of what I I think but like I said a lot of people
39:48
complain I don't know why the investors like they can't listen to two people at once it's like you do that on TV all the
39:55
time I don't know what the problem is um let's see uh share my LinkedIn da okay slow
40:03
down a little it will help that's good um as a school leader we're currently
40:09
looking for edte the demand is there okay sounds like you should find this person the St Bonaventure Academy maybe
40:15
you wanna talk to them uh good mic a better microphone is
40:22
a good idea quite impressive attention grabbing and informative very nice all
40:29
right great pitch lots of numbers okay good yep amazing all right I think the
40:35
reviews are good worth staying up late all right nice to see you guys um
40:41
let's do that we'll do it again soon and let me I'm gonna let you go but thank you for being here and thanks for
40:47
staying up late thanks for having us and thanks for all your support on LinkedIn as well Katana is one of the people who
40:53
regularly likes and appreciates what I'm doing on LinkedIn so I appreciate that does make it differ those likes and
40:58
comments you know they add up so um everybody else that's a good a good prompt if you don't mind click like
41:04
subscribe follow whatever platform you're on uh we'd really appreciate it so that more people we can reach more
41:10
people and help more people like this okay so that was K andan all right let's
41:15
all right so let's do a question just to mix it up a little bit I'm gonna try and bring in let's see a couple question we
41:21
only had a couple questions so far were um G and Joe let's talk about well let's
41:27
bring Anna Anna are you still here let's just get your general question I'll try to do a uh
41:33
um what's what's kind of your general question because you're kind of new to this question general question is how to
41:41
fund raise the money how to raise the money if you're in a early stage of development and you are in the early
41:48
stage of creating your company you have a good idea great idea you have the
41:54
pitch deck seed deck everything but uh I don't know um should I ask for the
42:01
exact amount of money I need to create or should I ask a little bit more
42:07
because uh I think that if I go back and ask for more money then uh the investor
42:14
will will be uh not will be willing to um invest more money if I make uh wrong
42:21
assumptions because basically what I'm doing in the startup pitch I'm just um
42:27
doing the projection Financial projection I can guarantee those that's right that's my general question yeah
42:34
you're you're on the right track and it sounds like you're thinking about the variables correctly you have to make some
42:39
assumptions not because they're good but because without it we don't have anything right so you got to start
42:45
somewhere and investors should understand if if their startup I guess here's here's a threshold issue is if
42:51
you're talking to traditional investors like a bank you know like they're going to want real financials so they can
42:56
count on repayment of a loan because that's their model that's different if you're talking to somebody like me or
43:02
Angel Investors or early stage Venture Capital investors we know the the financials are made up but what we need
43:09
to see is that you are thinking about the business in an intelligent way and you understand where the money comes in
43:15
where it goes out you know and at what rate things change so that you can model it a bit and of course yeah compounded
43:22
assumptions on top of assumptions it's all just it's BS right it's it's not a real number numbers but if you don't do
43:28
that we have nothing and then we don't believe you right so yes so that's a good place to start and you mentioned a
43:35
pitch deck yeah so um if you have a deck and some numbers like we used to do like
43:40
25 page business plans and five years of projections and these days it's mostly a
43:46
pitch deck of 10 to 15 slides that might take you 10 minutes to run through and
43:51
maybe as an appendic maybe one of those slides is some projections and hopefully you know the the a graph that goes up
43:58
and then and then maybe as an appendix you might have some actual projections but at the earliest stages it's really
44:04
about finding people that buy your vision and all of that is kind of a
44:10
reinforcement that they like you they like what you're doing they believe the story that you're telling and the rest
44:16
is more justification for frankly for the emotional bond that you create it's about a relationship and that
44:23
relationship is uh based on their their projection I guess of of you doing what
44:28
you say you're going to do um is that helpful yes as a one Venture Capital
44:35
told me uh you need to find a person a family uh friend or something that loves
44:41
you too much to invest I said no I don't have a friend that has that amount of money so I need to be uh uh good enough
44:50
to pitch to the investor early stage investor I don't know yeah so now I can
44:55
pitch on the idea yeah that that's that that's correct the thing you should be
45:01
aware of though is almost nobody invests on just ideas anymore there has to be some level of traction and traction is
45:08
Venture Capital speak for some demonstration of progress and by progress I
45:15
mean growth outside of just you working on things like you building a website you writing the code you making the logo
45:23
whatever you getting an office that's not traction that's you keeping busy traction is somebody other than you
45:30
saying oh I like it I want to join your team I want to click on this ad I want
45:35
to download your white paper I want to be a customer and customers of course are the best traction so until you have
45:41
some indication of traction I don't think anybody's GNA invest sorry that's just kind of how it is these days so you
45:48
need to and maybe you have we don't have time to get into all this and I'm sorry but um actually anybody that if you guys
45:53
really do want to work with me perfectly personally I don't have much time to do this so I have to charge money for it
45:59
but there's a page sorry an hold on let me just put this up if you want to work with me directly there's a page where's
46:05
this page come
46:10
on here that'll do the job um these are two websites one is I do uh I will review
46:18
people's pitch decks and make a video for you and the other is you can actually book a call with me if you want but they cost several hundred dollars
46:24
each just because that's how I manage my time so if if that's helpful to anybody and you have the money fine happy to
46:29
help I just can't help everybody all the time for free okay so um so what I was saying is um if you can demonstrate some
46:35
kind of traction then people are going to take you a lot more seriously so that is what I would be focused on even if
46:41
your product isn't fully finished yet try to demonstrate that somebody other than you thinks it's a good idea and
46:47
that's when you can start to make a little momentum and I really understand and I sympathize my first company I
46:54
didn't have any friends or family that had any money either right it's it's really hard and that's kind of
47:00
why I do this that's why I wrote these books honestly because people with money assume that everybody has money and they
47:05
don't right and but you have to start somewhere and that's why most companies start with uh friends and family because
47:10
those people already know you and love you uh and trust you even if they don't
47:16
really understand what you're doing even if they have ,000 doar or $50,000 whatever it is you know that's usually
47:22
how companies start that and credit cards right or your own Savings of course um and what you need to do is
47:29
come up with a plan for whatever resources you do have if it's $100 or it's $1,000 or $100,000 and pick match
47:37
that money up with some Milestones Milestones meaning what can you accomplish that demonstrates traction to
47:43
other investors so let's just say you have $10,000 um hopefully you can find that or and then think about it like
47:51
okay maybe I have 10 things I could do for ,000 each what are those 10 things that will show to other people most
47:59
efficiently that this is something more than just my idea what is the traction
48:04
you can demonstrate and if it's a$ thousand dollar meaning smaller fine if it's a $100,000 great the Milestones can
48:10
be bigger and more impressive right but demonstrating that traction is what you need to do as a founder and then the
48:15
investors will be more receptive because they can see that you're making progress so I don't know is that helpful yeah
48:23
hope hope that's helpful yes yes and they have some directions so that's yeah
48:30
okay excellent well that's a good general question hopefully that's helpful to everybody uh There's the link I was actually looking for there's a
48:36
page on scottf fox.com work with Scott um if that if you want to work with Scott you don't have to just it's just
48:42
an offer so all right Anna well great well we'll have you come back and pitch in a few minutes but nice to see you and I hope that was helpful and everybody
48:48
else as well um please look in the uh in the chat room as well there's some clever things showing up there like my
48:55
friend Stephen's saying um two cents about uh problem solution Market size these are all good ideas for
49:02
sure and um here's a go good question good follow-up question well let me put that up from Stephen here um hold
49:14
on there we go okay Stephen has a good comment here in the chat room uh it's a little too long to show the whole thing
49:20
on the screen but that's a rough outline for how one pitches problem solution
49:26
Market size and traction and Market size is the numbers thing right and then that's a great Point leave the door open
49:32
to listen yeah that's a really good point Thank You Stephen I hear everybody's talking right and then I'm
49:38
talking back at you the because we have a time constraint situation in the real world you definitely want to leave room
49:45
to breathe and listen because the thing you ask for or the feedback you get may not be what you expected and it's really
49:52
valuable you know people investors rarely say no because we're greedy we're always
49:58
looking like we don't want to annoy anybody like Anna there you know like oh you know I don't I don't think I want to
50:04
do that deal but I'm not gonna say no because maybe she's gonna come back and create the next Google right so they
50:10
never really say no so you have to listen very carefully to what they are saying so they might say maybe later or
50:18
come back when you have this or etc etc and try to read between the lines of what they're really saying because a no
50:25
is a rare thing and it's a blessing actually if somebody actually just says no then that means you can move on
50:31
that's a good thing let's see um I saw another comment
50:36
here I wanted to put up but I can't find it okay oh there it
50:42
was um from St Bonaventure again does your board of directors count as traction that's a really great point
50:48
because the board of directors I yeah I think it could count as traction why not um the idea is to have anything that
50:57
shows it's more than you so if you have advisors that shows it's more than you
51:02
even better than advisors of course because the first question investor will ask if you come to me and say hey I have
51:07
this idea blah blah blah and I have these people as advisers I Bean great that's great they're a very impressive
51:14
group she looks like she knows what she's doing I'm glad that she's interested how much money has she put in
51:20
that's the next question advisors are great investors are even better so just be ready for that question uh you can't
51:27
expect every adviser to invest but uh if they do it's a much stronger signal to
51:32
the to us investors that they're really is something going on um okay so that was Anna's question
51:40
all right let's go back to another pitch wow we're an hour in already we got to move a little faster here thank you all for being here let's um let's go to
51:48
let's see did Sean I think is Sean still backstage let's see who we've got GI Jo
51:55
Sean yeah there's Sean Sean let's Sean Let's test your microphone though first my friend all
52:00
right if it's if it's hi can you hear me he yeah it's doing that same thing though we had this
52:06
trouble last month didn't we you've been here before I remember
52:11
yeah well you talk a little more is that better yeah it's Echo and I'm sorry Sean
52:18
I I really would be happy to work with you I but it's this not this is not it's the right not the right format when
52:24
we've got people waiting and I think it's um yeah that's a shame I know you're I know you're around I see you on my socials
52:30
and stuff I thank you for your support buy a microphone man or or get you know a headset thing um whatever you're using
52:36
is it's it's I know a little bit about audio it's bringing in the whole room so you're using some kind of speaker thing
52:41
you need a targeted microphone and this is one of my favorite recommendations anybody that watches this show very
52:46
often will remember I often talk about this this is what I use this is a Blue Yeti microphone this is a podcasting
52:52
microphone I think it's about $100 so it's it's not cheap but hopefully you can hear me and the sound is good
52:59
because it makes a difference there are literally studies that show if you people can hear you better they think
53:04
you're smarter and that's kind of silly but it's a fact especially in this um you know virtual world we live in a good
53:10
microphone is worth the money okay so let's move on and I apologize again Sean
53:16
let's go to um let's see Gia had a question Joe had question um actually
53:22
you know what G Joe Joe Genius sorry getting lost here
53:27
in my own notes Dr Kay was going to come back where's K I know Kay will do a good pitch for us hey there how are you K I
53:34
am doing good thank you very much glad to be here yeah nice to see you all right so you want to pitch uh sure uh
53:43
should I just go ahead and do it go ahead and do it absolutely so hi everybody let's jump right into the
53:49
exciting world of Yus cheaper better apps with universal UI I am K I am the
53:55
creator of universal UI and I am a doctor of Engineering in the field of computational Sciences I have been in
54:02
this industry for about 25 years based on what I have seen during all these years if there's one problem that I want
54:08
to solve to help a lot of people that is going to be this one look creating apps
54:14
that cover larger market can be prohibitively expensive you need Android version iPhone version web version
54:20
Spanish version Chinese version Arabic version left right version right to left version you know you name it so you need
54:27
a large and diverse team to pull that off too so what if the same version of
54:33
your app just works natively on every platform what if it can be customized to
54:38
new locals without coding and what if Engineers with the same set of skills can do everything for you well now
54:45
that's the possibility using Universal UI the world's first and only omn media
54:51
application development technology we are in beta Sage we have a market get ready product and we have a couple of
54:58
customers too we are going to monetize our solution using triand true open source business model uh that helped
55:06
companies like red hat become million dollar billion dollar companies uh the bestas product is free we are going to
55:12
charge on the Enterprise addition of the product and additional Revenue will come in using uh training certification
55:20
program and Consulting business we are going to charge the Enterprise Edition 700 $50 per unit and uh the rest of the
55:30
services are going to be the same as the uh a standard market prices we are in
55:36
the driving uh700 billion doll software industry and
55:41
within that $450 billion uh SAS Market companies
55:47
like us have shown gross uh 10% annually at least and we hope to bring in about
55:53
$10 million in the first two years we have few competitions such as Google uh
56:00
all of us offer uh Native solutions for mobile and browser however on top of that we offer server side programming
56:08
our Technologies is easier to learn and needs less coding to work uh so we are
56:15
not really uh looking to go head on with Google we are looking to to work with them and become a part of them in fact
56:23
uh so at this stage we're asking for about $800 investment uh for our sidron
56:29
and thank you all very much for listening excellent very nice well good to see you and that was
56:36
interesting and and and even getting better every time I think nicely done uh quick note at the end you said you want
56:42
$800 I think you mean $800,000 so just make sure you say the rest
56:48
absolutely um okay so that was very good what I really liked and everybody should
56:53
take note of this and please again your comments in the chat room are more than welcome uh I'm not the only expert here
56:58
I know we got people from all over the world here um it was very conversational and a story you kind of told a story
57:05
like I'm this guy you establish your credibility and your qualifications and there's this problem and we're working
57:11
towards solving it it felt very comfortable you have a very nice style uh and I say that because a lot of
57:17
advice you see for pitches is tell a story tell a story and honestly usually
57:22
that advice is coming from people who want to consult and get you to pay them to create a story right but you had a
57:29
natural story and that is of interest to me and to investors right to hear that this is something you've experienced in
57:35
your own life you have expertise in this domain and you're creating a product and a business out of it that it just flowed
57:40
nicely so congrats on that I think that was cool um another rhetorical thing you did nicely was you ask questions and
57:48
then you answer them yourself so a lot of times people will come into a pitch I see this all the time they'll walk into
57:54
a pitch and say how many of you drink soda and like or you know how many of
57:59
you drive an electric car and only a few people raised their hands and maybe they all drink soda and all drink electric
58:04
car but they don't want to be put on the spot like that right so if you ask a question just answer it don't expect the
58:10
audience as excited about this as you are so what you did is you say wouldn't it be nice if this or can you imagine a
58:17
world where that and you kept going and told us what that world looked like so I like that rhetorical device as well um
58:24
and then more specifically you had some numbers maybe you should put the market size stuff up nearer to the front um
58:30
because that helps Orient things although at the same time there's kind of a movement away from the The Tam
58:38
Sams total addressable Market you know it's a zillion dollar market and we're g this piece and then this piece
58:44
everybody's heard that so many times now and the Market's a little more mature in SAS um so that's not quite as trendy as
58:50
it was if you can start with more with like we think we can hit this Market I think it would save you time and and be
58:56
fine um I likeed specifically and I think we talked about this last time the unit economics we're going to charge
59:01
$750 for this and then it's going to go up from there like that's helpful again for everybody listening investors we
59:07
take every number you say and we're doing equations in our head as soon you may not be a numbers person but we are
59:12
and I us say 750 and Enterprise what's the average size of an Enterprise 750 how often does it renew like I'm trying
59:18
to do those equations as soon as you give me some numbers um so that's good to have numbers is my point my only
59:24
suggestion or or a critique would be I don't know what Universal UI means and
59:31
it's obviously something near and dear to your heart um but I think you need at the beginning just a little more of like
59:38
a specific example um when would this be used and uh you know I guess Google does
59:45
this other people do it and at the end you said something about mobile apps like okay I'm kind of getting it but and
59:50
to be fair I'm taking notes and I'm doing other things so I'm not as listening as closely as I would for real
59:56
but everybody's playing on their phones these days anyway so anyway at the beginning if you can do a sentence or
1:00:02
two Universal UI means this our our you know common use case for us is this a
1:00:09
customer like this does this it takes this long and it solves this problem like just set the table a little bit and
1:00:15
then the rest was great so that would be my suggestions that is very valuable and helpfully I appreciate it excellent well
1:00:22
nice to see you that's cool and making time from your car too good to see you let's see if anybody in the chat room
1:00:27
had anything uh who disagrees with me let's see
1:00:36
uh okay not not much in the chat room there yeah okay all right so I guess you
1:00:42
passed good job I know you've taken a lot of exams as a PhD guy you you're not
1:00:47
you're not scared of tests so makes be nervous but yeah
1:00:52
sure all right well nice to see you hope to see you again soon so that was K with
1:00:59
a good pitch I thought and let's okay let's take a question or two and see who
1:01:04
else uh wants to join us hey speaking of joining us why don't you guys tell your friends we're here we're live on
1:01:12
LinkedIn and YouTube and uh Facebook and uh Blog Talk Radio and happy to have you
1:01:17
and your friends here either now or for next time and if you by the way if you're watching this in the replay later
1:01:23
you can um post questions on YouTube or on LinkedIn and post the
1:01:29
questions as comments and we'll try to help um doesn't have to all be real time although it's more fun this way of
1:01:34
course let me remind you by the way this session is being recorded uh and this is not professional or legal advice you
1:01:41
should consult your own professionals uh for about your expert your specific
1:01:47
situation and there's a comment in linking in and let's see here what else
1:01:53
um hey if you want me to come and speak in your town do a lot of public speaking and I'm getting my travel schedule
1:01:59
together for the next year so if you'd like me to come and visit a startup conference in your town I talk a lot
1:02:04
about startups and Angel Investing and how to build startup ecosystems that kind of stuff be happy to consider that
1:02:11
and um doesn't have to cost a lot especially if you're someplace interesting I might even come and do it for free so um happy to help if we can
1:02:18
like I said we're here here just trying to help all right so let's go on to our
1:02:24
next questions I think we were going to talk to oh here's that offer today by the way from our sponsor let's talk to
1:02:30
is G and Joe are you both still here I know it's getting late for G let's talk
1:02:35
um Joe I know you're in my time zone so let's bring G on um and then oh there's
1:02:40
Joe okay so Hey Joe is it okay if we wait for a couple more minutes and let Gia go to bed yeah yeah for sure okay
1:02:47
okay hang on we'll we'll come back then okay J so let's talk about your question was about location for your startup huh
1:02:53
yeah exactly and we have we are team of three and two of them best in the UK and
1:02:59
one best in China we don't know like what would be like the next step to have a company yeah um I think it's a really
1:03:07
good question and it speaks highly of you and your entrepreneurial instincts to think about that
1:03:13
because you're not just focused on your own needs but on the obviously the company's growth needs but also the
1:03:18
investors needs so there's a big difference depending on where your company's based so I don't know how much of this you know you can wave at me if
1:03:25
I'm going too too basic but let me start at the beginning if not for you for other people that are watching the
1:03:30
company where the country where the company is based is the legal uh
1:03:35
structure that will apply right so in my guess would be the UK has I I don't know
1:03:41
what Chinese law looks like um at least in America as you probably know people aren't real excited about doing business
1:03:47
in China anymore which is a shame but that's how it is right um so I think in
1:03:52
general if you want to raise money you probably be better off in the UK unless your money's going to come from China
1:03:58
right so it's really about where your investors are so as I mentioned earlier United States investors which is maybe
1:04:05
not you but just for everybody's background us investors were pretty constrained or limited to investing in
1:04:11
us-based companies because the tax code that the American government has means we get huge tax advantages like we can
1:04:18
make if a startup investment goes well and we hold it long enough we can take
1:04:23
like five or10 million in profit and pay no tax on it that just doesn't apply if we invest in the UK China or South
1:04:30
Africa or Chile or anywhere else so it really keeps American dollars onshore in
1:04:35
America so if you want to raise money from the United States as I mentioned to somebody earlier maybe was Anna or
1:04:42
somebody um or no was kitan and Nishan um you need to have a US company and
1:04:48
that is generally a C corporation in Delaware the US state of Delaware every state in the United States has different
1:04:54
laws 50 of them so Delaware is the one you want it's got to be a C Corp um but
1:04:59
if you're looking at the UK then it should be in UK and in China in China um
1:05:05
so that's kind of the basics so I don't know if that's helpful or you probably have a follow-up question yes that's really helpful and I
1:05:12
just a follow-up question like oh because like two of us like we have customers like mly like it's for
1:05:19
transport sector and customers are like traditional like um players in the are
1:05:26
that the air powered platform could help them reshape their business so we are somehow like a su company in the future
1:05:32
so in that case like what what would be like the potential for us to do next
1:05:38
stepes like in terms of choosing the locations to set up the company we know
1:05:43
a bit about regulations and we also receive the Grant from the UK so congrat
1:05:50
yeah well it sounds like you've got a pretty good reason to be in the UK and the UK is a obviously a very very
1:05:56
legitimate um uh legal regime well known respected understood uh I don't know
1:06:02
what the tax laws are like there but probably okay uh at least reasonable
1:06:08
um but if you have customers worldwide it does start to get tricky I I think I
1:06:14
think you're doing the right thing by asking I don't think we would have to get into a lot more specifics for me to
1:06:19
be much more helpful I think you need a real good set of attorneys um find somebody that specializes in this stuff
1:06:25
those people are expensive unfortunately but I think you're right to set this up properly of course the other way is to
1:06:32
just go and do it and then figure it out later because a lot of times entrepreneurs can get really hung up in
1:06:39
doing it properly uh you know with the right permits and business licenses and tax filings and the domicile of the
1:06:46
corporation and getting all that and you can spend a lot of time and money and most of all you spend all the enthusiasm
1:06:52
and excitement you had just to get ready and and then you're kind of out of money and
1:06:57
out of energy and it's like oh man we it's perfect we built this perfect house but it's in the wrong country right um
1:07:04
instead sometimes I don't know your situation but it might be better man who cares just go do it right go
1:07:10
sell some stuff show that you can make some money and then use that money to go to investor say look we got we got
1:07:16
people all over the world buying this stuff we need to raise like a million dollar or a million pounds like right
1:07:21
now so we can fix all this and then we're going to go to the moon right that's that's startup land right so
1:07:28
that's not necessarily recommended and I'm not saying it's perfect for you but that's that's reality right what fixes
1:07:35
all problems is customers buying from you so if you can get a bunch of customers buying from you yeah you can
1:07:43
probably figure the rest out later and it might cost you twice as much but at least then you have the money hopefully from revenue to fix those problems and
1:07:50
hire those expensive lawyers so as long as I'm not recommending you do anything unethical or illegal like do anything
1:07:56
stupid but but man you know having growth solves a lot of those other issues and and I've really seen this so
1:08:02
many times and I've even done it myself you get so caught up in preparing you never actually do the thing and the
1:08:08
doing the thing is what matters doing the thing is what raises money and allows you to grow to get to doing the
1:08:14
next thing so that's more just kind of personal strategic advice I don't know if that's helpful but that's that's
1:08:20
really helpful Scot I like your approach that's a very practical approach help
1:08:25
it's helping me a lot thanks a lot great all right well awesome I'm glad that was helpful nice to meet you thanks for
1:08:31
staying up late with us I know it's late for you hope to see you again next time and I look forward to hearing about his
1:08:37
company hopefully it'll just make a gazillion dollars um and then you know the lawyers are real happy when you show up that way right because you've got the
1:08:43
money and they're happy they like complicated problems so that can be a win-win as well by speaking of that if
1:08:49
anybody needs attorneys mostly in the United States um a lot of our viewers are United States of course but we have
1:08:55
lots of relationships the startup Council um this this is this is the URL if you haven't figured out yet startup
1:09:00
council.org but we do recommendations and connections we have sponsors and relationships with attorneys all over
1:09:05
the world that specialize in Venture Capital not lawyers who do divorce or car accidents right but people who
1:09:12
really do this all day every day and they can be the best Partners in the world because they know people and they
1:09:19
know investors and they know other Founders and they can make sure that the deals are structured right I mean
1:09:26
my best recommendation for everybody is to find Good attorneys and if you need help with that that's fine um and they
1:09:32
can make intructions right because they know all the VC firms right if you hire the right people and you've got something going on they can help um so
1:09:39
first is attorneys and then would be accountants as well we also have of course we have web design uh and
1:09:45
software developers and uh HR firms anything you'd like we happy to happy to
1:09:50
try to help if you need an introduction you can use the contact form at that website and just email us and we'll try
1:09:55
to get back to you and uh refer you to somebody that could be helpful to you that's what we're doing here we're here to help okay so that was G from I guess
1:10:04
he was in London somewhere in the UK anyway so let's go to Joe H Joe had a question and then we'll come back to
1:10:10
Anna for her pitch and I think we'll be about finished so where' Joe go here's Joe Joe has been very patient hello Joe
1:10:18
ni hey Scott thanks for having me on the show man you're welcome so um your question
1:10:24
was about Studio right so what what what are you thinking yeah so uh you know right now
1:10:31
it's like I'm at a stage where I want to build the team uh not just grab a bunch of capital um you know of course getting
1:10:37
capital is the easy way because you know you just you throw a bunch of money at contractors and and they'll do the job
1:10:42
for you uh but I'm more interested in building you know a trustworthy team you know perhaps Equity based and so it's
1:10:48
like there's a couple different routes to go um there's of course you know you find of course trustworthy friends uh
1:10:54
you know if you have some people in different organizations you're already part of so for me that would be University or uh there's also uh kind of
1:11:02
this more uh gaining popularity Venture Studio model and so I want to learn you
1:11:07
know about that um as well as like other potential local organizations uh around
1:11:12
you know SoCal uh that I could potentially join and grow a team at right okay and is it a software company
1:11:19
or what kind of venture is it yeah yeah I would just need a technical yeah technical support
1:11:26
okay so it sounds like you're you've punching the right buttons already um teams are grown through relationships I
1:11:32
mean you can hire recruiters to find people but that costs money and who knows right it's a whole thing um I
1:11:39
think you're on the right track the uh the number one thing to do honestly is to go to events uh go to as many events
1:11:45
as you can because that's where you meet people face to face and those can be virtual events as well you know if you
1:11:51
can get into a chat room like this one and post what you need uh I would be as specific as possible as often as you can
1:11:57
because you just never know what the universe is going to bring to you but if you don't say anything the universe can't bring you anything so um LinkedIn
1:12:03
could be great for this kind of thing uh here in Orange County the Orange County startup Council U you probably know
1:12:09
probably how you heard about this but we post if you have a job opening or even just a request we'll be happy to publish
1:12:14
something for you as long as it looks legit and it's not some kind of spammy weird sales thing you know um but we
1:12:20
post you sometimes when people are looking for jobs WE Post Talent available or you know if WE Post actual
1:12:26
job openings all the time um if that's helpful the main thing I would do if you haven't already is to join some
1:12:32
organizations and organizations like the startup Council of course um but also anything you mentioned to your
1:12:37
University so I don't know if you're a UCI or Chapman or Cal State flon or something grad or wherever you did go to
1:12:43
school and this is true worldwide every University that I talk to these days has some kind of incubator
1:12:49
or accelerator program and or an entrepreneurship Club at least and you can get out there and join those and not
1:12:56
just attend but get involved like you know volunteer an hour or two to help them organize their next conference the
1:13:02
way you build relationships is by sharing experiences and it's one thing to share a beer which is great but it's
1:13:08
another to work on stuff together and really build relationships and organizations can be a really good way to do that another way is through
1:13:15
podcasts and YouTube channels like mine uh leaving comments on uh on programs
1:13:22
that are addressing topics like you're concerned about who's going to read that stuff other
1:13:27
people that are interested in the same things you are it's really about finding people with similar values and interests I think um and signing up for those
1:13:33
newsletters and participating um that's kind of big picture is that helpful want to be more
1:13:39
specific yeah yeah absolutely um yeah I'm building like a insured tech company that would pretty much uh help your
1:13:46
broker do a better job instead of competing with or the standard you know
1:13:51
Market protocol of going through the messy process of sorting through bunch of insurance brokers to get a better
1:13:56
deal on specifically workers comp insurance so yeah uh that's that's what I'm looking for I'm looking for you know
1:14:03
people to help uh you know of course Chief technical officer would be the fancy term for it and so yeah now that
1:14:10
the uh Universe knowes yeah yeah there yeah I I appreciate your Insight on the events I saw you at SoCal startup day
1:14:15
and that's how I found out about this event another uh question if we do we
1:14:21
have time because I know we're on a little bit of a crunch sure go ahead okay um so I know you mentioned that you
1:14:27
know it's kind of a myth to uh you know find investors for a company that doesn't have uh is just an idea and so
1:14:35
leading from that it's that you need traction and the traction you mentioned today that's necessary is people kind of
1:14:41
like signed up for your white paper or uh you know people that have signed up for maybe a beta test can you tell me a
1:14:48
little bit about what you would want to see um and what kind of like what kind of numbers I could focus on bringing to
1:14:54
people like you sure that's a great question so happy to do that let me back up a little Beck on your previous point though um the need
1:15:01
for technical help um you said something that is a is a little bit dangerous and for you and for everybody else if you're
1:15:08
looking for a technical partner that's perfectly understandable and and reasonable it's hard to do most software
1:15:13
Engineers are fully engaged these days so unless you've got cash they're getting paid real well elsewhere um but
1:15:20
what you said specifically that I wanted to note was U you're looking for a chief technical officer that may what you have
1:15:25
in your mind I would not use that title because there can only be one Chief technical officer if you find somebody
1:15:31
you want to partner with I would date before you get married giving out Chief titles means that there's no room for
1:15:37
upside unless you stop being the CEO I'm presuming you're the founder CEO right so when you're looking for partners I
1:15:43
would be careful I would start with small projects get to know each other any kind of equity that you'd be talking
1:15:48
about should be given over time with vesting and Milestones and then give them a title like VP or even senior VP
1:15:56
of Technology but once you give the chief thing you can't take it back and you can't hire somebody over them
1:16:02
without causing trouble later so just be careful about that hopefully that makes sense um okay thank you yeah you're
1:16:08
welcome um is that useful learned that the hard way yeah that was super helpful um yeah I had an
1:16:14
experience around that too it's it's good to have a you know vesting equity and of course know the person that you're working with make sure you trust
1:16:20
him yeah and then what was your other question sorry I got distracted by myself oh uh yeah yeah no no worries
1:16:26
it's what sort of concrete Data customer validation yeah do you need to see um
1:16:33
anything the problem is that so many Founders there's this myth that you can
1:16:38
raise money with just good ideas and while that may have been easier back during web 1.0 it was never as easy as
1:16:45
the media makes it right they cover that kind of story just like they cover lottery winners one in a billion right I was there web 1.0 I raised my first
1:16:51
Venture round in 1997 we still had business plan and projections and a crapload of due diligence there's you
1:16:58
ideas are tough to raise money for um you so the idea is anything is better
1:17:05
than nothing right it's zero to one so anything you've got puts you in the next level so what have you got anything I
1:17:12
mean like somebody said earlier you have some board of advisers okay that's good have you talked to any customers no well
1:17:18
that's not good I've talked 10 customers great how about 100 customers even better a thousand cust even better how
1:17:23
interested were they 2% interested not so good 10% better 50% even better you've talked to a thousand companies
1:17:29
and 85% of them want to buy very nice right so it's up to you it's a sliding scale but you got to tell me a story
1:17:37
investors invest in in it's pattern recognition right we want to see patterns that we've seen before and that
1:17:44
is person with an idea goes out in the world and people like the idea and then
1:17:49
they buy from him so what can you show me it starts to look like that that Trend right it's not individual dots
1:17:55
it's a line like how many points can you show me you know and even if they're small you don't have any money that's
1:18:01
what people say have no money okay well do you have $10 go buy $10 with a Google or Facebook ads around the keywords of
1:18:08
your offer and see if anybody clicks and then you got something right hopefully
1:18:14
you know you got a good click-through rate at least that's something because if you've done nothing but talk to yourself and your mom who's going to
1:18:20
support you you don't really have a business businesses are based around customers so if You' have talked to a
1:18:25
bunch of customers that's the easiest freest cheapest way to build traction I've talked to 87 customers and 90% of
1:18:32
them want to buy okay that's starting to sound like a thing so hopefully you get
1:18:37
the idea something anything yeah yeah good deal well I was a commercial insurance broker so you know I made a
1:18:43
100 calls a day uh so you know probably talk to about you know 5,000 conversations EXC I'd estimate about 20%
1:18:50
of them are like the ideal customer for us excellent well that there that's great man so you're not afraid to do
1:18:56
that and a lot of a lot of Founders are so yeah if you can beat the phones or you can do it digitally if you're a shy
1:19:01
person you know you can buy Google ads like I said but that's what it is uh anything is better than nothing and the
1:19:07
more you have the better of course it really comes down to money so people may still put you off until you have you
1:19:14
know real VC firms these days they want at least a million in annually recurring Revenue before they even really talk to
1:19:20
you that's a pretty high bar right if you're doing a million in recurring Revenue maybe you don't need the VC right VC money is very expensive so
1:19:27
looking uh at other ways to find traction being creative about it is is the challenge I think that all founders
1:19:33
face these days at the preed stage so hope that's helpful um nice to see you and uh looks let's see if uh we'll check
1:19:40
uh in the um chat room see if some other people have some ideas as well and that was Joe nice to meet him let's just
1:19:46
review the chat here and uh okay what do we
1:19:53
got all right so Andre says uh well you guys can see
1:20:01
the chat I think but well let's go with Stevens here Stephen has a good point get an Advisory Board of people from the
1:20:08
industry yeah date first yeah don't ask them to invest right away but get them excited and build the relationship and
1:20:16
advice yeah be careful of the advice yeah that's good words of wisdom there Andre is suggesting
1:20:23
difficult to build and this even more importantly yeah a lot more people with ideas than people can actually build the
1:20:29
product that's right great Point lot of non-technical Founders looking for technical Founders yeah just just for
1:20:36
what it's worth I get questions like this I'm trying to do some numbers in my
1:20:41
head I'd say 90% maybe even 95% of the time when I get questions like this it's
1:20:46
non-technical Founders looking for engineers and developers I almost never
1:20:51
hear engineers and developers looking for ideas so that gives you some idea of the demand relationship here and leads
1:20:59
to this point which is a stack of cash or a bunch of stock and a big title so
1:21:05
it's negotiation right do the best you can and work your way through it okay so let's see who's still in the uh still
1:21:12
here I think we're probably wrapping up hopefully Anna's still here let's see Anna wanted to pitch but it's she's in
1:21:18
Serbia we should have gotten to her earlier I'm sorry about that Anna she might have had to leave yep looks like she oh no she's
1:21:25
there sorry Anna yes okay she's up late I just realized it's late for you right
1:21:30
what about like 10:30 or something like that yes 10:30 yes 10:30 p.m. 10:30 okay
1:21:38
not too bad better than the guys from India okay yes all right so you want to get minutes
1:21:45
a pitch yes I will be very quick because it's too late uh my idea is to develop
1:21:52
uh we are developing the platform for writing and reading Romans novels Romans
1:21:57
novels Romans industry is huge it's um in 2023 it was almost 90 uh 20 billion
1:22:08
dollars and by 27 uh 2027 it's projected to be um
1:22:15
almost uh 30 billion so it's huge and there are those
1:22:22
bite-sized uh Romans novel applications and there is a problem
1:22:27
there anyone can write uh a novel and some for instance Hungarian girls who
1:22:34
doesn't uh speak English very well and she writes a perfect novel and she hooks
1:22:39
me up to read but her language uh is so bad and it's difficult to read so what
1:22:47
I'm uh solving here I'm using the AI I'm using the CH GPT and Gemini to help the
1:22:53
writers write H in their native language and to readers to read in their native
1:23:00
native language so I'm translating in the with the with the API in uh in
1:23:08
behind and also it's Echo friendly it's inclusive so for instance someone is
1:23:14
blind they can use the The Whisper API from the jet chat GPT and they can speak
1:23:20
and write the novels and of course here them not
1:23:25
reading them so basically uh uh that's the general problem General solution uh
1:23:33
Market is huge competition is uh big but the the difference here with the
1:23:39
competition is the other than with the games uh here the competition doesn't
1:23:44
want to kill you and and uh continue working the within the competition I can
1:23:51
uh commercialize I can um make my uh uh
1:23:56
application visible there because that's how it works and then I can advertise
1:24:01
within the within the other apps other apps are bought by uh kaca entertainment
1:24:08
for um almost a billion dollar uh that's radish and uh Tapas applications so uh
1:24:17
you have for example if when you talked about the numbers imagine this in radish
1:24:23
application you have one uh most readable uh Romans novel it has uh F uh
1:24:32
528 uh million views it has uh
1:24:38
128 Seasons each season has almost 100
1:24:44
around 100 episodes and you need to uh unlock each episode per one Euro to be
1:24:51
able to read or to watch the other advertisement MH which is also uh where
1:24:58
is the man the the money value so basically it's a huge market so uh this
1:25:04
is my idea and so far I'm developing it and uh I have uh found a few interesting
1:25:11
invest interested investors I also have one investor that is investing but we
1:25:17
are stuck in financial Pro projection which is not where I'm very good that's
1:25:22
why I ask how to raise the money that's where my question came from because I
1:25:27
can't I don't know and it's not possible to know how much the advertisement uh
1:25:32
within the app will cost 30 30 second of video advertisement within my app how
1:25:39
much will that uh gain me the money but my competition uh mostly has monthly
1:25:46
Revenue uh two or three uh millions of Eur oh okay
1:25:55
so it's a huge Market yeah there is a problem I have a solution and it's
1:26:00
simple as that okay so that's very interesting um obviously this is a new
1:26:06
idea so you can practice in terms of the pitch but you laid out a a lot of very interesting things um so good job that's
1:26:13
hard to do um I'm not sure where to start that's very interesting and it's a market I
1:26:19
don't know anything about which is very interesting of course my target audience are woman from teenage
1:26:26
to I I don't have the the limit up to the age but but it's not man this is
1:26:34
like a pornh hub for woman yeah so girls like to read right and the man
1:26:41
likes to see so they're Visual and girls like to see and the the 50 Shades of
1:26:46
Gray I don't know if you know those uh trivas but for one year it was most
1:26:52
searchable term on Google Google what to read after 50 Shades of Gray oh that's a
1:26:59
great okay the answer okay so tons of great information there so you it's
1:27:04
going to take you some practice to squeeze that into a tight you know story that's you know in a two-minute thing
1:27:10
but tons of interesting information there that might be your hook right there at the end um meaning maybe you
1:27:16
open with something like that did you know that the most popular thing on Google for years was what to read after f is gray I mean that's I I just made
1:27:23
that up right but you said it that that might be a decent way to start because the main problem you're going to have
1:27:29
and you've already had this I'm sure is male middle-aged men investors are gonna have no idea what you're talking about
1:27:34
and they may not believe you right yeah plus you're a woman and a lot of men don't take women seriously anyway which
1:27:41
is crap but that's the fact right and most investment dollars are controlled by you know middle-aged and older guys
1:27:49
like me right so that's just how it is so you need you need to figure out how to get their attention and numbers is
1:27:55
probably the way to do it plus a little story so you had some fascinating numbers in there 128 seasons of stuff um
1:28:02
one thing you said it was one Euro each I didn't know whether you meant that was good or bad so it would help to to you
1:28:09
know you think un st stop sorry we don't I'm sorry we don't have time for you to to respond to
1:28:14
everything that that would be a longer call but I'm just giving you feedback okay so sorry we're out almost out of
1:28:19
time but um so you just telling $1 which is cheap or which is expensive so you have people have some idea where you're
1:28:25
going with this right um all the competition is making a lot of money so just figure out all those great numbers
1:28:31
you said and write it down so there's a logical order to how do you present it because it's a very interesting story on
1:28:37
a very interesting I think you found something quite compelling the pieces that are missing are um why you so you
1:28:46
didn't say anything about you and I'm sorry again we don't have time to go into the details like I don't know if you an AI expert or you're a romance
1:28:52
novelist or both like but why you why now and that gets you into the
1:28:57
competition right like who are the other people why do you think there's an opportunity here that someone big like
1:29:02
audible or Amazon or whoever's in in Serbia isn't just gonna Spotify suddenly
1:29:07
just gonna add this right or if they do add this they would do it by buying you right those are things to explore and
1:29:14
that investors are going to want to know about um and then uh some of the things you said were very interesting like
1:29:20
about how um it's eco-friendly and it can help blind people very super cool that's a small point of the presentation
1:29:27
right and that's one of the first things you said it's very nice but that's not going to drive the business unless your
1:29:33
business is specifically that right focus on the big points there's big players do you 128 seasons of this you
1:29:40
know most search thing on Google for years and there's nobody supplying it like this like show us how that model
1:29:47
comes together and then why you're the one to do it and why now is the time to do that and that will help string this
1:29:53
together I think sorry I'm talking a lot but we're this is kind of my job I guess um the other thing I would say is you
1:29:59
said several times my idea is this my idea is that stop saying that it's not an idea this is your business if you
1:30:06
talk about an idea it sounds like this is some fantasy talk about just change your mindset and change the words you're
1:30:12
the CEO my company does this same thing right but it sounds way better and it's
1:30:18
free so my company we do this we're the world leader in this and we're doing it
1:30:24
now and this is the market and you know bang bang bang so you can watch the replay of this um later if you want on
1:30:31
YouTube everything you said was very interesting and very cool but just kind of rearrange it tighten it up and be
1:30:37
more confident and people will start to believe you so I hope that's helpful um
1:30:43
any quick feedback we don't have a ton more time here but is that useful yes excellent thank you yeah
1:30:49
you're welcome um all right well I think we got to move on but I hope we'll see you again was very interesting to hear
1:30:55
about that market something I I don't know about that one for sure um but romance novels I'm I'm a writer myself
1:31:00
as you know these books but I know romance is huge and I really like what you're doing there that's interesting I
1:31:06
hope we'll hear from you again uh and uh maybe you want to be one of the companies that uh come comes and list
1:31:12
yourself on our sponsor uh this National Sharps directory that we built that I was telling you about you can go list
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there for free if you want I don't know if you're ready for that but anybody that's listening can list yourself um
1:31:24
there and then maybe investors can find you and speaking of that the flip side of this literally we haven't talked about this today this is a directory we
1:31:30
built for you guys that is about 3,000 early stage startup investors and you
1:31:37
can search on 48 different categories and with keywords and it's the most comprehensive U invest investor database
1:31:44
that I know um and you can check that out free there's a code right there that you can see and try that for free as
1:31:50
well so um none of them are very expensive anyway we're just trying to cover the costs of building it but these are these are services that uh that I
1:31:58
built because people kept asking me how do I find investors and how can I get
1:32:03
investors to know who I am so that's literally these two businesses I hope they're helpful to you guys all right so
1:32:09
that's kind of what we've got for today um we're an hour and a half in and that probably is going to do it for me let's
1:32:15
just let me check the chat room and make sure there's nothing on fire and uh yeah some good tips for everybody
1:32:23
I hope you guys will all go and look in in the uh watch the replay and check the chat room if you didn't keep up I didn't
1:32:30
I'll go and look at the chat again later and I hope that you have enjoyed yourself and are here uh because you
1:32:35
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and uh sign up for all the services we have there because we're trying to help you so thanks for watching I'm Scott Fox
1:33:01
from startup ccel.org and I hope to see you again next month this is every month on the fourth Tuesday at the same time
1:33:09
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1:33:21
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