Your idea sucks Why don't we be more honest when networking at startup events?
shoestring.com.au
shoestring.com.au
The best example I can give here is from a few years ago when I was chatting online with some startup folks. One of them was building a Twitter based app where you would enter your tweets and it would post them at an interval you specify. I believe my thoughts at the time were that it must be the lamest idea I ever came across. Fast forward a few years and that startup, now known to the world as Buffer, is making over a million dollars a year and growing at a crazy rate.
I can't verify that myself since I don't want to link their app to my linkedin.
$19/month
I think the key thing to remember is that you very rarely "get" something that might be a groundbreaking innovation the first time you hear about it, so holding back on criticism and judgement until you've heard a bit more isn't a bad strategy.
Well here you are, talking to somebody who's spent months thinking about something from every angle imaginable. And you've given it five minute's thought. Who are you to say their idea sucks? You know nothing about it.
A much better approach is to ask questions. Don't say "your idea sucks", ask "Do you have any users?", don't say "your idea sucks", ask "What sort of growth have you found?" and so on. Eventually you will hit a question where the person doesn't know the answer. Congratulations, you've just helped somebody improve their idea.
Sadly, I don't think this is often the case and it's a difficult thing for anyone to do. You're inherently limited by the angles you can think of (which is why you should get out and talk to people).
You're advice is spot-on though. I've been in a number of conversations where probing with questions and getting very well thought out answers has convinced me that the founder really know's what he's talking about.
Which still falls under "every angle imaginable". Increasing the pool of imaginable angles is of course good, but you won't get there if people say your idea sucks instead of sharing their angles with you.
Depends on what your view of success and right/wrong is.
There's plenty of things I've missed, and I'm not at all any prescient genius at this, but I've been approached by people with 'great ideas' who 'just need someone to build it for them'.
One example from last fall - I liked the idea, but told them they were going to have lots of legal hurdles with the IP and content, and they assured me they wouldn't. Three months later, they told me they were having legal issues with the IP and content. They could have pressed on, but chose not to, because they wanted to finish up school instead. I think they also realized why this 'great idea' isn't being done - it's not because no one thought about it, or that it was some great insight, it's that it's hard to do because much of the content they want is tied up in legal issues.
But... wow - how about that? I looked at the problem for 5 minutes and saw issues they hadn't seen in 12 months of thinking about the problem. Why is that? Maybe because I've been working professionally for 20 years, and they were still in college? Certainly not claiming I'm smarter or more clever, but simply that sometimes having more experience in some areas lets you see issues that the person hooked on the idea hasn't seen (or doesn't want to see).
Your point about questioning is fine, to a point (no pun). Asking too many leading questions can make you come across like a jerk too.
Well, yes. Anything you do can make you look like a jerk if you do it in a jerky way.
And as you point out, sometimes you simply have more experience in an area than the founders do. Obviously there are cases where this will happen and you can immediately tell the idea stands on shaky ground.
But in general that's not the case in "Hey I have this cool idea" conversations.
If you cannot get that feedback because you are waiting for them to break the rules of social behaviour, then all the other problems of running a startup are simply going to flatten you.
Here are some ideas I only half-heartedly do myself:
1. Have a website with a mailchimp mailing list on it. Ask them to subscribe. Hell, enter their email in front of them right there and then - then wait. If they confirm, they liked your idea, if not they did not.
2. Have a mock-up online and a description. Email people a link to it, with a unique tracking code. If someone clicks the link, they liked your idea.
3. have a MVP and ask them to use it. email them a username and password. If they use it - they liked it.
Basically, waiting around for other people to give you feedback is like waiting around for them to give you money. Ask for the sale.
A lot of Australian founders really didn't like that for the most part, but a couple (whom I'm now friends with!) took it really well, pivoted, or decided to do something else entirely, and they thanked me for the feedback (and the feedback of the mentors that said similar things!).
Mentors giving feedback like that was often met with incredulity and hurt. "You are NOT your idea" is really important, but I have a theory that Australia's (especially Brisbane!) startup scene is so small, and so fledgling, that we're still learning :)
For what it's worth, I was told my idea was good, but my numbers (which were realistic, based on exits from companies that were similar but not the same, about $6-9mil after 2-3 years) were said to be too small for venture capital to try.
VC's and investors in Australia are also learning, and are a lot less willing to give an idea money to try. But that's okay! Things will change, given time and effort.
Seems... odd
In comparison, US is more entrepreneurial and SV more so - but to be fair, it's more entrepreneurial than anywhere, and even it suffers from risk-aversion and echo-chamber conformity at times.
What do you think?
EDIT I don't think it's a question of tech or not (Australia is technically highly capable and advanced), but of entrepreneurial or not. Our idea of "entrepreneurial" is opening yet another mine, TV station or restaurant.
And it pisses me off. I live in Brisbane, and I love the people and the city, but I will eat my hat (and film it for YouTube) if the Council/State Gov will ever pump money into building up a proper tech sector here.
Melbourne is a little better, with their "hipster"-styled outlook; I guess that's why it has a bit of hype in the start-up scene here in Aus (they have anti-conformism, to a mild extent).
Sydney, well, there is innovation coming out of there. A number of startups, and they do quite well, but it's a 5:1 ratio of B2B vs B2C startups, so you don't get to _see_ the work being done, unless you are in a vertical they target.
Maybe one day Australia will take tech seriously... until then, I'm biding my time and saving up my personal runway to chase dreams elsewhere in the world, like a lot of people my age.
Why is that the governments job?
Because local industry in Queensland is focused on pulling finite resources out of the ground, which can only last so long before it must move somewhere else. They're not interested in conquering problems that the rest of society faces, and in my personal opinion, basing our state's long term future on the sector (even if it is GREAT temporarily; for ex. my dad is a Civil engineer working on the roads around the mines, makes over $1mil/yr revenue from his business), is going to bite us in the arse.
Because of that, if Queensland and Brisbane wants to stop playing third fiddle to Sydney and Melbourne on a local and world stage, then we need to start doing something in the future.
However, it may end up that Sydney is where Australia's tech industry takes root and grows through natural activity and movement instead of Brisbane. This is normal and it will happen. Not every city is 'world class' at everything, it's really not possible.
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This is why I don't tell people their ideas suck, I'm a terrible judge of it.
If someone tells you they're working on an Instagram for cat pictures or an app that will play a random sound at an interval you specify, then yes, tell them it's a horrible idea. But just because an idea sounds simple or has been done before doesn't mean it will fail. It takes more than an idea to succeed.
VCs make money by betting that only 1 in 100 of their investments will be a success. What makes you think that a random person at a start-up event will have any more success.
1. It's very difficult to tell what's a good idea or not. 'Not Invented Here' syndrome is one reason why we think other people's ideas generally suck, but in the end it's almost all down to execution.
2. Startups are hard. It's much more useful to start out gung-ho with a crummy idea, and then learn exactly why it's crummy and adapt than to be shot down before take-off because the idea isn't perfect.
and one slightly less good reason:
3. We want people to like us. It's hard to break down an idea and not breed any resentment.
Then they either suck or they are awesome, but at least they are real enough to be judged at that point.
I wouldn't tell them that, just as I wouldn't tell them that, in my opinion, their clothing, haircut, or other aspects of personal appearance "suck". Nor that any aspect of their personality "sucks".
Part of the problem is that everyone thinks they can be a "game designer". It's one of those skills that is not measurable; so if you suck at it, it's hard to tell.
I think that as people gain maturity and experience, their eyes open, and are more willing to give and receive criticism like this (hopefully). Another reason why age and experience are valuable.
Execute, understand your market, and make fucking money.
That being said, first time entrepreneurs benefit most from this approach while people more experienced can cut to the chase.
It's all about trying to be helpful.
What do I lose by being "nice"? Nothing. How does it serve my interests to go out on a limb and tell it like it is?
> If an idea has already been done, lacks market demand
> or is plain crap should we not say something?
Let's invert this: Why are founders so likely to believe that polite throwaway comments from random people validate their business idea?And if they are, they probably know it already.
b) Networking events are for networking.