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One Order of Operations for Starting a Startup

blog.ycombinator.com

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Re: One Order of Operations for Starting a Startup

#11

Post by [deleted] »

khuknows wrote: post #10
mwseibel wrote: post #4

Earlier quoted context omitted.

Get the MVP in the hands of users early and try to learn from them how to make something that they want. Be open to the idea that while you might have figured out a good problem to work on - your solution is just a hypothesis to be tested and refined over time.

What do you do if a decent amount of people use your MVP, but then churn out and don't respond to requests for feedback? Essentially, they don't really care about the problem or solution, they were mostly just curious. Scrap it and start again? From my experience and what I hear from friends, this seems very common.

[deleted]

Re: One Order of Operations for Starting a Startup

#12

Post by [deleted] »

Invictus0 wrote: post #8

Using Airbnb as a reason why your idea doesn't matter is like using Bill Gates as an argument for dropping out of college. The idea is super important; in Twitch's case, the process of getting to that idea was putzing around with something terrible for a while. Ideas do matter and you're not doing anyone any favors with this quixotic reductionism.

[deleted]

Re: One Order of Operations for Starting a Startup

#13

Post by jameshk »

cvaidya1986 wrote: post #9
mwseibel wrote: post #2

Hello - I've been invited to some universities lately to talk to students about Y Combinator and the question "how do I come up with a good startup idea?" comes up every time. In this essay, I've attempted to write a guide for people with the same question. One thing I'll point out from the onset is that there are many paths to starting a startup and this one is not the only one (and probably not even be the best). W…

Hi Michael. I appreciate your candidness and openness to accept counterpoints. How would you evaluate a startup that’s only a couple weeks old, however close to shipping a prototype but probably won’t have time to get users by Sunday ( YC deadline ). It’s an idea that could generate a billion jobs and hence we feel it’s better to get YC support than try to grow it slower with a revenue model. Should we apply anyways…

In my experience, the answer is almost always “just apply” - there’s no harm in it and answering the questions can be helpful to consider various aspects of your idea in more detail.

Re: One Order of Operations for Starting a Startup

#14

Post by cvaidya1986 »

jameshk wrote: post #13
cvaidya1986 wrote: post #9

Earlier quoted context omitted.

Hi Michael. I appreciate your candidness and openness to accept counterpoints. How would you evaluate a startup that’s only a couple weeks old, however close to shipping a prototype but probably won’t have time to get users by Sunday ( YC deadline ). It’s an idea that could generate a billion jobs and hence we feel it’s better to get YC support than try to grow it slower with a revenue model. Should we apply anyways…

In my experience, the answer is almost always “just apply” - there’s no harm in it and answering the questions can be helpful to consider various aspects of your idea in more detail.

True. It’s just going to physically hurt if the hurried demo doesn’t do the idea justice. Won’t be fair to the scope and scale of the idea. I guess just apply is the answer regardless. Thanks!

Re: One Order of Operations for Starting a Startup

#15

Post by Cenk »

mwseibel wrote: post #7
Cenk wrote: post #6

Slightly related, the Startup Podcast has two great episodes on Justin.tv: https://www.gimletmedia.com/startup/almost-famous-season-3-e...

That was so much fun :)

I really enjoyed your episodes, thank you for taking the time to do them

Re: One Order of Operations for Starting a Startup

#16

Post by [deleted] »

jameshk wrote: post #5
mwseibel wrote: post #4

Earlier quoted context omitted.

Get the MVP in the hands of users early and try to learn from them how to make something that they want. Be open to the idea that while you might have figured out a good problem to work on - your solution is just a hypothesis to be tested and refined over time.

Unrelated: In a previous talk, Brian Chesky mentioned writing down the core values of Airbnb before they had hired a single employee - do you think (other) startups should follow this example in the early days and consider the future culture of the company?

[deleted]

Re: One Order of Operations for Starting a Startup

#17

Post by startupdiscuss »

> "There are a lot of counterexamples to the “failure” scenarios I described above, both for first time and repeat founders."

As a reminder the two failure scenarios are (1) idea -> pitch -> raise -> start company and (2) non-technical team.

What are these counter-examples? I can't think of any, although I have the vague feeling they must exist. In particular, counter examples to (1) must exist since the MVP/lean/validate idea wasn't as prevalent even 20 years ago, and counter examples to (2) must exist especially outside of technical startups where there are other moats.

Can you think of some?

Re: One Order of Operations for Starting a Startup

#18

Post by mwseibel »

cvaidya1986 wrote: post #14
jameshk wrote: post #13

Earlier quoted context omitted.

In my experience, the answer is almost always “just apply” - there’s no harm in it and answering the questions can be helpful to consider various aspects of your idea in more detail.

True. It’s just going to physically hurt if the hurried demo doesn’t do the idea justice. Won’t be fair to the scope and scale of the idea. I guess just apply is the answer regardless. Thanks!

Just apply man :)

Re: One Order of Operations for Starting a Startup

#19

Post by mwseibel »

Invictus0 wrote: post #8

Using Airbnb as a reason why your idea doesn't matter is like using Bill Gates as an argument for dropping out of college. The idea is super important; in Twitch's case, the process of getting to that idea was putzing around with something terrible for a while. Ideas do matter and you're not doing anyone any favors with this quixotic reductionism.

Clearly the idea (or the solution) is important - my argument is that knowing the right solution day one isn't very important. Airbnb and Twitch are great examples of this.

Re: One Order of Operations for Starting a Startup

#20

Post by dfabulich »

This post doesn't mention when to sign an operating agreement with your co-founders and legally form a company.

IMO, the answer is: you should have a signed equity agreement before you start working on the MVP, and and you must have one by the time you finish working on the MVP.

In practice, you'll probably need to incorporate a business to build your MVP. If you're accepting money from customers, the company should accept their money, not a co-founder directly. (Y Combinator recommends a Delaware C Corp.)

Even if you're just spending money, maybe at first one of the co-founders can fund it out of a personal bank account, but it's way better to have a business with its own bank account and operate the business out of that.

Your MVP isn't really viable unless your co-founders have signed an agreement. Sign one, early.

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