Takeaways from applying to Y Combinator twice (not accepted, not interviewed)
TL;DR We went through this process twice recently, and in short, if such a question appears in your head, don't ask; just open the browser and apply, and in any scenario you will win.
1. The process is very easy.
The application form isn't too long, and every question makes sense and has a good reason. Many people have already done it and spread the advice. The first time we tried, it took us a week to get the application ready. The second time, it only took us two days.
2. Every question in the application makes you think about what you are going to build.
I mean literally every! It might seem like an easy task to say in 50 characters what you are going to build, but once you start to answer that question, you will make a lot of iterations to find the suitable words. Version A of your responses will go through several iterations before reaching the final version, and simply answering the question may completely change your vision of the idea you're going to build.
3. Making a one-minute video pitch is priceless.
I can talk about our project for hours, but it was extremely tough to clearly share who we are and what and why we are going to build in a one-minute video. I've discovered that camera phobia exists: I can talk without the camera, but when it's turned on, I can't remember a single word and sweat like a marathon runner. Making the YC video helped at least to beat camera fear, even though it took countless takes. More importantly, it teaches us to communicate clearly and quickly. In our second attempt, we made a 59-second video in just ten takes over a few hours.
4. The YC community is awesome.
We also attended the Startup School last summer, and it provided the most inspiring and helpful advice and webinars I've ever encountered. People there have full or clean energy, which they share with anyone for free. Everything you need to do is open the browser and join.
5. It will clean up your head.
You might be in love with your idea, but the world is huge, ideas cost nothing, and the biggest issue is that nobody really cares about ideas, especially yours. It's a bitter pill to swallow, but the sooner you get it, the better path you will find. It will take you a lot of energy, persistence, and perseverance to tell the world about your idea, and in my opinion, that is the main goal of YC is to teach you how to build a business, not build a product around an idea. And the application is the first lesson.
6. It's a funny process.
Don't take it too seriously. Remember that your statistical chance of being seen is less than 0.5-0.7 percent. It's actually easier to get into an Ivy League university than it is to get into Y Combinator. However, you will learn about your idea or project, and possibly yourself, from the start. For free.
7. Don't worry about any terms, conditions, or other details at first.
As I mentioned before, it is mathematically hard to get into, and even if your idea is outstanding, you need at least a large margin of luck to be accepted or ever interviewed. So why pay attention to future terms? Nobody will force you to join, even if you agree. It is 100 percent up to you.
When I thought back to who we were a year ago, I asked myself, "Should I apply to YC?" I'm sure that without the help of people from YC, I would not have been able to write such takeaways. So don't wait, don't think too much, and fill out the application as soon as you can. In whatever manner, it will benefit your idea and you.
I hope our takeaways will help to beat the fear and open the new opportunties. Was it worth it to us? Indeed, it was absolutely worth every second; one year and two applications later, we develop an entirely new product and explain it in an entirely different manner. We're thankful to ycombinator for making that happen.