Farokh Shahabi

MVP is not something that all startups should do. Most successful startups I've seen, especially in the B2B space, don't start with an MVP. Instead, they start with getting "one" client. They build their solution while doing that first project and learn from each step of it. After creating these custom projects for 2-3 clients, now they have learned enough to create a product that's perfect for everyone. This way, they have money upfront from the very beginning, and also they can test their hypotheses with real customers and learn. So let's not start with hypotheses and MVPs; let's start with real customers.

Automation and no-code tools are a game changer for developing your MVP. And most of them are FREE! Website: WordPress, Webflow, Framer Design: Canva, Figma Full automation: Make, Zapier, Albato Lead gen and CRM: Formaloo, Hubspot Database for devs: Firebase, Supabase Database for non-devs: Airtable, Gsheet, Formaloo Low code app development: Retool, Bubble Form Builder and workflows: Typeform, Formaloo Live Chat: Intercom, Helpscout, Crisp Cloud: AWS Activate With these, automate 80% of your process and focus on attracting customers instead of wasting thousands of dollars on the wrong product nobody will buy.

Most startups fail because they focus so much on buzzwords like sustainability or social impact that they forget to build a viable business. That's your first job, building a growing "business". A failed business has no impact and can do nothing about sustainability. Instead, startups should turn social impact and sustainability into businesses. Over the past twenty years, most social entrepreneurship or renewable energy startups have failed because they failed to build a business on top of their goals and ideas. The few that were successful have done it by answering this: How can I reduce "waste" and save money for my customers? If I save them money, they can afford to pay me.

80% of all VCs will ask the same questions. While this makes meeting number 50 super boring, it’s an opportunity too. Frequently asked questions are the areas in which our startup should shine. If we don’t have a good answer to these key questions, we should change something in our business, fast. A great approach to fundraising is not to start it with the big names. Instead, we start with smaller VCs. This way, we can practice pitching and become a pro at it. This way, we find the real issues with our business model, our product, and our marketing. This way, we can fix all of these issues and help our startup grow faster. When we fixed serious issues with our business and our pitch, then it’s time to start the discussion with big names.

Let's get something straight: In the very early stages of any startup, all financial projections are pure BS. Nobody cares about it, not even investors. Because of the simple fact that it's most likely that in a few months, your startup has changed and pivoted so much that it makes that report utterly useless. The financial forecast is not about your startup; it should be about showing your approach and strategy. You've defined a goal (which is similar to almost all startups in your industry). The financial forecast should answer this: How do you plan to achieve it? Do you plan to do sales? How exactly? What kind of team do you need? Will you do PLG? How? Do you plan to participate in events? How...? It should answer these.

The best "A Players" love to see that their hard work makes a meaningful contribution to the impactful organization that they're part of. Impact trumps money 9 out of 10 times. Startups are not just a company, they're a community. A community of employees, shareholders, and, most importantly, customers. That's how great startups are built by A players.