Info

SaaS Growth Stacking - with Dan Martell

How do you end up in rehab for 11 months, discover computer programming, then build 5 tech startups, selling 3 and raising money for the last 2 in 15 years? Tune in each week and Dan Martell will teach you: How he got invited to spend a week with Richard Branson. How he ended up raising money from Mark Cuban. How to hack your productivity. How to focus your marketing efforts. How to get your big dreams funded. How to build, scale and sell your technology company without giving away the control to investors and financial stakeholders. The 3 disempowering “pick me, pick me” mentality that plagues startup founders.. and what you can do to avoid it and fund your startup. Tune in each week and get Dan’s deep-in-the-trenches experience as a father, serial entrepreneur, and investor. Do you want to fund, start, scale and sell your business? That’s the only question that matters here. If the answer is “yes”, then hit the SUBSCRIBE button and let’s make it happen.
RSS Feed Subscribe in Apple Podcasts
SaaS Growth Stacking - with Dan Martell
2019
September
August
July
June
May
April
March
February
January


2018
December
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
March
February
January


2015
December
November
October
September
August
July
June
May
April
March
February
January


2014
December


All Episodes
Archives
Now displaying: Page 1
Sep 4, 2017

A few months ago I had lunch with a bunch of highschool aged entrepreneurs to give them feedback on their idea.

They were planning on building an energy generating play park for kids.

Now, I don’t mean to come off as a direct poo-pooer of dreams…

… but after 15 minutes of listening to their pitch I decided to ask some questions that I knew were going to shatter their excitement.

  1. Have you figured out the average time a kid plays on a play park?
  2. If they did play with your version of a swing, how much energy would it generate?
  3. Does that amount generate a sizable amount of energy?
  4. What’s the added cost to build a swing your way vs. the existing way?
  5. Does the assumed energy production cover the additional cost?

“But, if this works this could change the way communities power their houses.” one blurts out.

He was clearly high on his own supply.

And look, I don’t mind overly enthusiastic founders building something never before seen.

It’s what the world depends on for progress.

But what bugs me more is waste.

Waste of time, talent and energy focused on solving a problem that they haven’t de-risked.

When I work with founders building high-tech software, I teach them the “Riskiest Assumption” framework.

That’s what I want to teach you in this week’s video.

(Before you hit play, I want to apologize for my hair sticking out like that – it annoyed the crap out of me too. My bad. :).

At a high level, here’s how I work through the steps:

  1. Assume I’m wrong
  2. Make a list of all the assumptions
  3. Break em’ up into categories: Customers (Who), Marketing (Where), Costs (How Much?), Technology (How)
  4. Sort by riskiest assumption (Highs go first)
  5. Use a validation step to get feedback: 1) Expert (fastest), 2) Experiment

Now, the reason most people don’t reach out to experts to validate their ideas is because they’re worried someone will steal it.

Don’t worry about that.

The fastest way to move is to reach out to those who would know the science, the best practices or the model that you need to validate ASAP to move forward.

I’m sure over the years you’ve tested some of your own assumptions…

… got any funny stories?

Be sure to leave a comment with your best ones.

I’ll add a few more of my own as well.

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get the free 3 videos to grow your business here.) He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter@danmartell for tweets that are actually awesome.

Are you an entrepreneur? Get free weekly video training here:
http://www.danmartell.com/newsletter

+ Join me on FB: http://FB.com/DanMartell
+ Connect w/ me live: http://periscope.tv/danmartell
+ Tweet me: http://twitter.com/danmartell
+ Instagram awesomeness: http://instagram.com/danmartell

0 Comments
Adding comments is not available at this time.