Is it normal to meet with an investor before you are ready to found a company?

I have been jumping into prepping my VR game company, working with dev consultants, recruiting highly talented artists, managers, etc.

While I've been doing everything I can to hit the ground running, however, the official kickoff needs to wait until the end of September, 2021. I have golden handcuffs with my company and until that time and wouldn't want to commit only 80% with a pitch. In the interim I plan to continue aggressive development on the game with a small team to have a great product to present. However, my friend sent an e-intro with an excellent first stage VC and we have a meeting planned for January 8th. What I'd like to know is whether it's normal to try and develop a relationship and give a promise for a great pitch in the future or do they typically just get the one-off pitch and decide based on that? I don't want to ruin the chance by coming across as not ready. I was just curious if this was a normal thing to do.

Thanks!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

[The Bouqs in CNN] We found the prettiest Christmas decorations for your home this winter

The Christmas season is nearly upon us, which means that, if the song is correct, we’re about to enter “the most wonderful time of the year.” And while the world outside might be full of stressors at the moment, we are finding peace and solace in the fact that we can channel all those wonderful vibes inside our very own homes.

Listen here.

The post [The Bouqs in CNN] We found the prettiest Christmas decorations for your home this winter appeared first on OurCrowd Blog.

OurCrowd Blog

I Have 75K to Invest and i found a startup to invest i need an advice if its a good choice.

Hey Guys,

So as the title states i found a startup here in Cyprus to invest for a child care system similar to Brightwheel.

Basically the guy who coded the whole child care system in Cyprus is a developer and owns a web development agency for 15 years, i met him through the gym i go to and since then i know him for around 2 months. We had dinners i met his wife and kids so we have a good bond so far. So far the guy seems solid and smart.

He told me he found a gap in the Cyprus market so he created this child care system he has been developing this for 2 years and its not done yet. Iv seen it tested it and it looks pretty damn good very functional and there is no system like this in Cyprus.

So he asked for 60k investment in return of around 35% of equity in the company.

He sended me a partnership agreement that he will invest initially 30k and i will invest 30k. The initial 30k i will invest are not refundable and the next 30k will be invested after 6 months from my side possibly when the system will be done and that will be refundable so a total of 60k.

My role will be a partner in the company and decision maker with him.

Now the question is it really worth it?

Well from my market analysis there is no competition i even called some kindergartens to ask if they would use a system like this and there was a positive reaction.

The transition of this to work he told me i can leave my current job and go there to his current web agency work with him so i will have also an aspect of work with the agency i will have my own office as the system develops and i will get half o a salary from him and half from my own money (the investment money) until the system starts to be profitable.

The goal is to go abroad and make it big.

What do you guys think?

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Startups – Rapid Growth and Innovation is in Our Very Nature!

In the age of COVID, what methods have you found successful in getting samples of a brand new product in front of buyers outside of the traditional tradeshow?

Im breaking in to the wellness space with a new brand/product and curious to hear stories of how those with new products have gotten them in front of buyers without being able to go to trade shows or in-person events. Online platforms that “put your product in front of buyers” intrigue me, but it also seems like a rip off as I can’t gauge how much success people have actually had on the platform and am not finding stellar reviews.

Would love to hear some experiences, thanks!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Every startup needs a niche – here’s how I found mine.

I'm in week 2 of building a startup, still in the research phase.

I know VC's want to see startups attacking huge markets with opportunities in the tens of billions. But I'm a solo, bootstrapped founder, and I'm more interested in finding a narrow niche.

Even unicorns started in niche markets

  1. Amazon – started off as online bookstore.
  2. WayFair – sold speaker and TV racks and stands at RacksAndStands.com.
  3. Facebook – online directory for Harvard students.

Benefits of niching down

A niche brings some huge benefits that outweigh the smaller market:

  1. Product – You can optimize for a narrow set of users, focusing on their processes and workflows. You can move faster – less user types = less product complexity.

  2. Messaging – Speak directly to your narrow audience – use their language, terms, and even inside jokes.

  3. Distribution – The key to distribution is to find out where your users congregate and meet them there. This is much easier with a niche audience.


How I chose my niche

Here's the problem I'm trying to solve: As a remote worker, it's hard to develop personal connections with coworkers distributed across time zones.

There are 3 directions in which I could niche down:

Industry

  1. Remote workers in healthcare
  2. Remote workers in real estate
  3. Remote workers in tech

Job Function

  1. Remote workers in sales
  2. Remote workers in HR
  3. Remote workers in operations

Company Remote Profile

  1. Companies that are fully remote
  2. Companies that are partially remote
  3. Companies that are newly remote (only since COVID)

Or I could mix and match from different categories

  1. Sales professionals in real estate within companies that are fully remote.
  2. HR professionals in healthcare.
  3. Tech workers in operations in companies that are newly remote.

The winning niche (and my criteria for choosing one)

Here's the niche I chose to pursue: Remote product and engineering leaders in tech.

I evaluated potential niches on 4 primary criteria:

  1. Niche is sufficiently largeCould I grow to 100 customers within this niche?

  2. Distribution channelsDoes this niche have existing, free, distribution channels with low barriers to entry? It's better to have 1 amazing channel than 10 mediocre ones.

  3. Problem severityHow deeply do users in this niche care about the problem? If users don't care enough to try something today, they won't care enough to try my product tomorrow.

  4. Personal experienceHow well do I understand users in this niche?


This is the second week of my journey to build a startup in public in a process I'm calling The MVP Sprint.

My process right now is all about reducing uncertainty.

Last week I chose a problem.

This week I identified my niche.

Over the next week, I’m going to validate the problem in the context of those users. I’ll attempt to answer:

  1. Is it a real problem?

  2. What are users doing today to try and solve it?

Any advice or feedback for me? I'd love to hear it!

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Startups – Rapid Growth and Innovation is in Our Very Nature!