The model of startups is a person comes up with a brilliant idea, forms a small team and pushes out a new product. Is this person who came up with the brilliant idea the best designer, developer, tech support, business and project manager? No. A lot of the success stories you hear are about those who just stumbled forward, learned as they went, and just happened to make it work out. Some claim to be (and may very well be) the hardest workers on earth. Many attribute it to luck or good fortune, but the resounding similarity is simply the execution of a vision. I am a fan of the stumble forward model, simply because it is better than the sit here and wait model, but I think it can be better. So I put on my chess player hat and this is what I come up with.
Legal Zoom + Startup Weekend = Startup Zoom
The best scenario I see is not one where the entrepreneur takes in funding for their new idea and proceeds to reinvent a new wheel. The best scenario is where a scalable wheel is available to any startup, where the person with vision can spend as much time as possible steering, and where the funding can be used in the most positive way possible. Now look. The visionary should not be ensnared in a bureaucratic process that doesn’t allow for them to be creative or push the envelope. NO! That’s not what I’m describing. I’m simply describing a standardized system of tools that are ready to go, in a protected environment, that allows for the most productivity for the entrepreneur and the most return for the investor.
So for example, there are certain things EVERY new company needs to do. You can go to Legal Zoom and quickly have a simplified and standardized version of various tasks instantly available. This is tremendously valuable. This method of standardizing value could be, should be and better yet, WILL be available to startups. You are starting an internet based company in the state of New York. You have X number in funding. You sign up, and agree to pay a small percentage fee for services rendered. You enter an environment of non-disclosure. You then answer a series of questions on how your product works, and in moments a scalable model appears. It is a chart form of the wheel you do not have to reinvent. A model that is based on the hard learned paths forged before, giving you a series of milestones you need to plan for and required squares needing to be filled.
And the kicker is it’s a crowdsource based entity. So what you actually get out of it is far more value at each rung of the ladder of accomplishment than anything you can do on your own.
You want to just get this small niche based product up and running with 10k? We show you how. You want to run a Google competing search product with 10k? We illustrate where that won’t be possible based on simply plugging in the description of your product with existing pricing for each item you will need. You don’t have to learn each and every process in the loop from scratch, as many wind up doing. You can learn what you want to, and in fact, you can guide the overall percentages as you feel necessary, but the framework is there, ready to go. For instance, I worked last month with a developer/potential team member, who was very concerned with the legal end of a particular piece of our product. In that case, you can say, “oh, Startup Zoom has suggested we will need to budget 5k for legal of our 175k budget, but I would like to double that amount, for extra peace of mind.” Another example of the framework would be a quick determination of the percentage you should expect in development costs of a web based product which will also have an Android and IOS app associated with it. The numbers and percentages obviously can and will be changed or at least fine-tuned, but at least you have a firm starting point, and a firm idea of what you’re facing.
As an option, project management would be available to you. This could be task based or larger project based. Again, the great thing is that within the environment, protections are in place for non-disclosure.
Without a doubt, if executed properly, this would be a win for all involved. The more standardized the startup model becomes, the greater the value of the thinkers who come up with the better processes and products, and those who can steer through changes as the market reacts to what is being offered.
Now onto idea 70. Crowdfunding beyond the project or company. Crowdfunding for the individual.