#business #business Hi, about a year ago I started https://inkdrop.ai as a co-founder and CTO with two friends. We built a product that writes unique product descriptions at scale with AI for B2B resellers, we quickly got $40K ARR and some leads, and we entered https://nca.vc and now https://techstars.com Berlin 22 batch. >[Techstars](https://www.linkedin.com/company/techstars/) is one of the best accelerator programs in the world. Their portfolio includes more than 3,000 companies with a market cap of $71B that has made competition extremely high. Only 1% of over 17,000 applicants are accepted. For comparison, [Stanford University](https://www.linkedin.com/company/stanford-university/) has a 5.1% student acceptance rate and [Harvard University](https://www.linkedin.com/company/harvard-university/) ’s acceptance rate is around 5.9%. We decided to pivot after 10 days in the program when we finally realised the market was not good enough, it was a feeling that have been running in background for months when we had overfitted the numbers to create the TAM SAM SOM. My co-founders and I have decided to split up mainly because of diverged interests (on good terms, we still live together) and we think this is the best solution for everyone. I am now trying to find like-minded individuals to start a new venture. <div style="position: relative; padding-bottom: 62.5%; height: 0;"><iframe src="https://www.loom.com/embed/ed3d531578d7419ea2a3349f700858e4" frameborder="0" webkitallowfullscreen mozallowfullscreen allowfullscreen style="position: absolute; top: 0; left: 0; width: 100%; height: 100%;"></iframe></div> FYI I am still in techstars 22 batch Berlin until mid December (great network+learning). My personality: [[Louis - Cheatsheet]]. LinkedIn: https://www.linkedin.com/in/louis030195/ GitHub: https://github.com/louis030195 Calendly: https://calendly.com/louis030195/rand If you contact me, please send me asynchronously information about yourself, thanks. Variables of my opportunity-decision tree: ![[Pasted image 20221023133918.png]] ## My Ikigai <iframe src="https://app.excalidraw.com/l/5MKXLddifTr/65ATHDtXEJE" width="100%" height="600px"/> ## Personality compatibility Let's be honest, Myers Briggs & other personality test shouldn't be assumed to be nowhere close a $e = mc^2$ from an epistemological point of view, but might still be helpful? (I'm INTJ) ![[Pasted image 20221025191834.png]] # My skills bottleneck Let's say a business is about building and selling. Without being pretentious, I claim to have a wide range of skills in [building](https://github.com/louis030195) and I can use Google and Piratebay for things I don't know. My selling skills are probably lacking, but I've learned a lot lately by participating in several accelerator programs, so ideally you'll have some good skills there to complement me, or we'll learn and get shit done %% # Compatibility check process Building a start-up is 75% team relationship, that's why we are going to follow this process to get to know each other (let's be extremely honest and transparent): 1. Every day at least one hour of video calls asking each other [[Big Talks]] such as: - What is wealth? Are you interested in wealth? Why? - What did you learn recently? - What are your weaknesses? - What kind of [[Information|information]] do you consume on a daily basis? - [[Warren Buffett]] goals: - what are you top 25 life goals? just take the 5 most important and do not spend the single second on the 20 others. So what are your 5 goals? - What are your respective personal goals for a startup (e.g. a sustainable business that is spinning off cash and running it forever or high growth and some type of liquidity event)? - What do you think about nurturing your employees as you would raise your children? 2. If a red flag has been detected, let's abort fast 3. When the opportunity is given, we have to live together for > 1 week to see what happen %% # Ideas & directions >Every successful business (1) creates or provides something of value that (2) other people want or need (3) at a price they’re willing to pay, in a way that (4) satisfies the purchaser’s needs and expectations and (5) provides the business sufficient revenue to make it worthwhile for the owners to continue operation. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >Make something people want... There’s nothing more valuable than an unmet need that is just becoming fixable. If you find something broken that you can fix for a lot of people, you’ve found a gold mine. >~ [[Paul Graham - Hackers & Painters - Big Ideas From the Computer Age|Paul Graham]] >The best businesses in the world are the ones that create the most value for other people. Some businesses thrive by providing a little value to many, and others focus on providing a lot of value to only a few people. Regardless, the more real value you create for other people, the better your business will be and the more prosperous you’ll become. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >Roughly defined, a business is a repeatable process that: >1. Creates and delivers something of value... >2. That other people want or need... >3. At a price they’re willing to pay... >4. In a way that satisfies the customer’s needs and expectations... >5. So that the business brings in enough profit to make it worthwhile for the owners to continue operation. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >At the core, every business is fundamentally a collection of five Interdependent (discussed later) processes, each of which flows into the next: 1. Value Creation. Discovering what people need or want, then creating it. 2. Marketing. Attracting attention and building demand for what you’ve created. 3. Sales. Turning prospective customers into paying customers. 4. Value Delivery. Giving your customers what you’ve promised and ensuring that they’re satisfied. 5. Finance. Bringing in enough money to keep going and make your effort worthwhile. >~ [[Kaufman, Josh - The Personal MBA|Kaufman]] >The most valuable businesses of coming decades will be built by entrepreneurs who seek to empower people rather than try to make them obsolete. >~ [[Peter Thiel - Zero to One_ Notes on Startups, or How to Build the Future|Peter Thiel]] The strategy I see to evaluate ideas: - Inference through my variables - Experiment, ask people if they want the theoretical product (don't build yet) and would pay for it - Market analysis, what already exist, how big is the market - build if all went well - Later - [Value proposition refinement](https://www.linkedin.com/pulse/refining-your-value-proposition-justin-mcclellan/?trk=public_profile_article_view) - Northstar ([example](https://amplitude.com/north-star/getting-started-running-a-north-star-workshop)) ## AGI Social space I want to build products in the social space using [[Software 3.0]] and ultimately helps creating an ([[Alignment|aligned]]?) [[Artificial general intelligence|AGI]] <div style="position: relative; padding-bottom: 56.25%; height: 0;"><iframe src="https://www.loom.com/embed/10ee31a7760b4e518af8beebcaf6549a" frameborder="0" webkitallowfullscreen mozallowfullscreen allowfullscreen style="position: absolute; top: 0; left: 0; width: 100%; height: 100%;"></iframe></div> We're already multiple persons potentially interested in building around this, with experience in start-ups, building software, building AI, publishing AI papers, building web3/blockchain. ## Me joining your project It's very unlikely that I join your project, unless: - We have a very strong personality match (hell yes moment at the first meeting) - I kinda like the idea, not too far from my interests