Startups are incredibly hard

October 2, 2022, 12:27 am
Startups are incredibly hard
Startups are incredibly hard. I started a few, won and failed. I also invested in over 150 startups! If you thinking about launching a startup, here are 12 questions you should ask yourself to know if YOU ARE READY!

Thanks so much 4 this ! Answering these Qs, even in retrospect,cements my conviction towards building the next decacorn in no code gaming Founder life is hard, but if u show up every single day with Passion, perseverance & purpose, its also the most rewarding

We got our first check through & $50k which got us to our MVP launch and gave us enough capital to continue building & fundraising To date weve raised $2.5m which gives us runway for 29 months to get to 100k registered game makers!

We are operating at the intersection of 3 exploding tech trends: Video games: $145B No code content creation: $11.5B Web3 games: $2.3B Our moat includes (details in screenshot) flat learning curve for non-tech audience, truly no code diverse use cases global appeal, games in any language ability to own & monetize games most importantly, our Bolt Squad (our community) Our business model have 3 revenue channels: Rev share: when our users monetize their video games, well take a % Sales of digital assets: users will be able to unlock premium game assets (avatars, backgrounds, collectibles) Breshnaverse ads: immersive ads in the virtual

The product, is a platform with pre-coded game templates and a game asset library that users can use to make their own video games Were also building a virtual carnival, the Breshnaverse, where makers will be able to display and monetize their games I love this one! When we built our MVP, we threw at the wall & while it stuck with diff users 2 categories got our flywheel of content creation going: Teachers & students who are eager to make learning fun with their own mini video games GenZ content creators

Solid threas Im backed by my brother and COO and a team of 25 game developers and designers Having operated a gaming studio before, Ive worked with most of my team for over 5 yrs Were capital efficient, we fail fast and we fail forwards and were changing how video games are made & used

Were building a world where everyone, irrespective of their coding or design skills, can tell their story through video games! Video games are a universal language, were removing the skills barriers to making them! Were building the tiktok for video games! Breshna empowers users to create, share and monetize their own video games without any coding or design skills Weve been building in public, have 2600 game makers that have made more than 7k games

I gave myself a goal of raising $1m before transitioning FT to my startup (which I did in Feb of this year) The initial funds were better spent on dev salaries (Im a non tech founder), we launched our MVP in 45 days of starting with our first check

Why now? We are living in a world of content creation! What tiktok did for videos, Clubhouse did for audio & Canva did for design, we are doing for video games! We operate at the intersection of no code content creation, video games, web3 and purposeful communication another great question to ask yourself - are you willing to commit to something that`ll likely consume all of your time for the foreseeable future?

1. I have lived the pain point of boring communication (ppts, brochures, videos) & known the power of video games; Been in serious games industry for over 8 years 2. On a mission to empowering the next 100m ppl to tell their stories thru their own video games This is gold!! Im the founder of Breshna, the Canva for video games! Im gonna take a stab at the questions in this thread (Ive been a founder for 18 months) Starting a Startup is INCREDIBLY EXCITING AND INCREDIBLY HARD. Check these questions to make sure you are ready. Here is the blog post on Startup Hacks with more Follow for more startup blog posts and PITCH US when you are ready !

12. How will you get off the ground? - How are you going to make the early version of your product? - Are you going to bootstrap or raise family, angel or venture capital? If you do, how are you planning to go about it? - Or customers are already willing to pre-pay?

11. What is the market dynamic and size? - Who else is going after this problem? - Who are your competitors? - Is this a Blue Ocean or are you disrupting entrenched competitors? - How big is this market? Make sure to measure market size bottom up!

10.What is your unique insight, moat, and why do you win? - We live in the increasingly competitive world. Why will you win? - What is your unique insight and why will you be better than the competitors in the near term? - What is your long term moat?

9. How will you make money? - What is your business model? - How much customers will be willing to pay you and and why? - What will be your unit economics? CAC? LTV? Make a financial model - check this is a good business!

8. What is your product? - How and why you`ll make certain product choices? - Which features will you choose? - What will make your product unique and stand out among competitors? What is your MPV? Why do you think it`ll work and be sticky? Make an awesome product.

7. Who are your customers? - How well do you know your customers? - How are they solving the problem now, without you? - How big is the need? Will you be selling a pill or a vitamin? - Will they pay? - Who is the buyer? Know your customers COLD!

6. Who will be on your Team? - Some founders go at it solo, it is better to have a founding team, because you can go faster. - Choose your co-founders carefully, and make sure they are complimentary to you This is 2 most important decision after deciding start.

5. What is your Vision? - 5-10 years from now what will the world look like if you win? - Think about whether what you are thinking about is truly needed in the future? Is your idea forward looking? - Clear vision is THE FOUNDATION of great startups.

4.Do you have a good idea? - What is your idea and why do you think it is a good idea? - How have you validated it? - Have you talked to customers? - Have you experienced the problem first hand? Do your homework on the market and the pain point.

3. Can you afford it? - Are you in a financial position to start the company? This is a serious consideration. - Do you have to pay rent, repay loans, or have other financial obligations? - Can you afford to quit your job? - Will you do this 1/2 time? Think through $

2. Why NOW? - What is your opportunity cost? - What else could you be doing? - Is the timing right for the business NOW? - Do you see the market tailwinds? Or headwinds? The timing of your startup is really important.

1. Why YOU? - Did you always want to be a founder? - Are you motivated by money? - Are you on a mission? - Do you HAVE TO do this? Do you want to build THIS specific company or you are excited about starting A company?

Sponsored links