Three founders. Proud to say the most sceptic founder got 24 points, the realistic strategist 36 and the visionbearer original founder 72 (of course 🤪) Excellent then to move on to product market fit video as brainstorm inspiration for our next mvp. Mega appreciate your videos Heini. Cudos
I saw this video some time ago, but I kept some of the tips in my mind. The concept if my product is 10 times better, encourages me to make my best candidancy to Vivino.
Dear Heini Zachariassen, Excellent video and analysis system. Very much encouraged by our very conservative scoring that still gave us a 108. Thank you from Rowland Reeves and the US Space Team
108 score, except my truck broke and repair cost me $10,000. Funding isn’t necessarily an issue for me, I would have put being able to afford it down to a 2 just because of my truck problem I paid for before starting my app, but I know I’ll have the cash for it soon enough so I’ll give it a 3. Damn truck😅 Now I’m dedicated, so I’ll never give up. I believe in this.
72, probably why I’ve had an easy time attracting very talented people. Thank you so much for your content by the way it has been very helpful in my investor pitches.
Love this. Missing one parameter though: Do you love this and will you love working on it for a decade+. Case in point: Vivino vs BullGuard. Love the channel. ✨🚀
That's a good point, particularly in fringe cases where th escore is around the 20 mark, the founder team's passion for the subject matter can carry a long way.
I was conservative and I scored 36. My lowest score was on defend ability which I scored a 1. Although I will have IP in place, I suspect existing large companies in the field will find ways to get around it with their own versions.
We came up with this framework in the past: Value/differentiation Market size Skills/resources Feasibility Time horizon Risk Financial prospects Excitement We scored them quantitatively from 1 to 10, then computing the average. But deciding qualitatively.
I like the approach you used. Tested a simple idea linked to our daily lives and got a 24. :-) One thing I would add is timing which can be an extremely valuable asset as well.
Timing is incredibly important, I didn't include it because it can be really hard to tell with regards to timing, are you early or late, often hard to say.
That was great, I have just missed the problem valuationit's kinda implied on the acquisition, but for me, is important to think problems first. Maybe something like: How likely is that the problem is so strong that people would use regularly for even a beta / unfinished version of a solution? 0 - No, it needs to be perfect for people to use. 1- Yes, if it is free 2 - Yes, if it's cheap ($1-$10 or small % fee) 3- Yes, even if the price is close to close to $100 or large % fee (~20%). *for B2B, price x 10
We have a subject at my university where we were tasked with finding a startup idea and explaining how we would bring it to fruition. My idea received a score of 36.☺
Went through the exercises twice with my business partner. On the 1st pass we scored a 72, we went double pessimistic on the 2nd pass and scored a 24. Now to find a Hustler to join the team to up the score of questions #2.
ts a new way for order management through my app at present people are using phone call or whats app message so if they shift it will be not 10 rimes but 20 times more better as of know dont how to give score for product please help
Heine, when you evaluated facebook and vivino using this model, did you consider them after they had become established platforms? It is relatively easy to "copy" a social network platform idea, before the content/users have arrived. Other ideas will seem better, at an early stage, if one assumes that the users/content is already present. I am asking because, I am pondering an idea which in its infancy will be easy to copy, untill it has build a moat, just like these examples.
Thanks yes a very good question. This is after you've reached some traction. It may be easy to copy in the beginning like Vivino and Facebook, but later it becomes really hard. You should rate a bit down the line, are you building a wall of protection that makes it hard to copy.
Thanks, I appreciate that. If you look at the product and whatever you do being 10 times better then that should say something about the competition. If it is a red ocean it probably isn't 10 times better than what everyone else is doing. Thanks for the comment!
Thank you for this great evaluation method. However, I'd like to challenge the formulation of the first question. Being 10x better is a too strong threshold. Was the solution of tesla 10x better than other car manufacturers? What about Instagram compared to Facebook , tiktok compared to Instagram or uber compared to a traditional taxi company? In terms of revenue, users or many other metrics these business ideas where not even close of a 10x factor.
Hi Raw startup,You are building a great content along with a great startup.We are also working on a idea in proptech and we score 48 ,Again thanks for such amazing content.
Great framework but it might be missing one factor like „accessibility“: How hard is it to enter the market and realize the potential despite regulations, low awareness, high costs for sales and marketing, competition and so on. Or would you say these are contained in the other factors?
Firstly, I would like to thank you for sharing your knowledge, your videos are helping me a lot in framing my startup idea into reality. My score came to 54, looks like I have a good chance here :-)
Thank you for this great content that will be very helpful to me. I am working on a project that scores 12. I think I can improve this score with a thorough knowledge of the market. I want to launch this in 2022 :)
Good point, you have to be able to build at scale. It is meant to be in Buildability, but maybe it should be clarified. In acquisition there is also some virality. .
Exc Video as Always!! But I have one request, marketing? How important is marketing for a product? Budget? Frecuency, content? Can you make a video explaining this topic? Thanks in advance; I’m a huge fan and working on my site using all your tools!
Thank you very much, very glad you like the content. I may need an expert to help me do that video, but I agree it is a very important and interesting topic that I should look into.
That would be great, for example, I’m curious about how marketing strategy was implemented on vivino app!! Heini, I’m on my way with my online site and let you know when success arrives!
I have an awesome survey on my recent video for a big break through for Evolution of Conciousness and Quantum Entanglement. You can check it out and use some of the questions to answer in your upcoming videos if you'd like.
When evaluating market size, what constitutes big numerically? Is this more than 20 million/2 million/200,000/20,000 users ? I am not sure how to grade this point and would appreciate some advice.
Thanks it is all about the combination of how many people buyers/users and how much they would spend per year. So 20000 buyers is good if they spend $1 million a year. However if they spend $100 a year you need a lot more users/buyers. The total number should usually start with a B, being in the billions. More information here ua-cam.com/video/hcFUHzMkGBo/v-deo.html
"Be pessimistic." Great advice for an optimist for this exercise. However, the questions are worded optimistically enough that I'd rate many successful companies zero on a number of factors if I'm being pessimistic. Humans aren't great at estimating probabilities, though, anyway.
Hi Heine, am thinking of floating a small FinTech start up in Australia. Although, i got a score of 12 using a very pessimistic response to your metrics. Can you suggest a very affordable app. developer for a small time start-up with no investor?
Great video, thanks! I came up with 108 on my project but it’s a one hit wonder product (hopefully) in the pet (dogs segment) industry. I have marketing experience in social media which could help make it viral.
Greetings! Thank you for the nice video, great framework and explanation. As I am planning more than an idea (but not the same time), few of them aren’t inventing the wheel but entering an existing market. For example, I am considering a one person company in the field of international real estate brokerage. So basically matching an investor (for residential or commercial real estate) with a real estate developer or owner of a property. So, from your framework, it is possible that the first point is more of a zero, which will automatically everything else is a zero (and this makes the framework weak in that sense in my opinion), meaning, anyone starting such a business will fail? Unless there is a different framework for startups of existing business models, who will try to work on the other factors, i.e better customer service, closing a market gap etc… Would be nice to have your input. Thanks
Hey Heine, i am loving the content, awesome work. Do you have content on real estate listing website startup? If yes pls share the link otherwise guide as i am doing some research on it. I would apprecite your kind response.
Great video and framework. Using this system, being very hard on each, I scored an 18. Second time, scored a 108. Question, if you don’t mind. What’s your thoughts on building a micro saas that depends on data that is freely available? U.S. government data.
Currently, Vivino can leverage its 50 million plus user base, no doubt. However, going back to its conceptual phase, what would be its dependability score? In today's tech landscape, almost any app can be reverse-engineered.
Thanks prefer to build a business that has as little dependability as possible. Makes life a lot easier. We had almost no dependability as we built everything independently from the industry, data everything, no waiting for anybody just pushing forward.
For buildability especially for a startup, it could be a great idea but a team and all the resources may not immediately be available and hence, bring down the start up idea score
Great channel, thanks for the very practical advice. One question on defendability what if this is a new product category and I have a patent, But it is not hard to build?
Thanks, I guess it is good to have a patent, but I wouldn't rely on it. Always build fast, move faster than anyone else that way you won't have to rely on the patent. You will just be better as you build faster.
I made an app that should solve exactly this problem but with a different score calculation. I think I will add this formula too, it seems to be more solid 🤔
Hey Heini, thank you a lot for this great evaluation system, and I want to ask if this system was created by you? or if it's a well-known system between the investors which we can rely on it or even use to prove a part of the idea for angel investors.
The acquisition part I found hard to guess. I fill that most ideas would be 2. It's hard to say if the product will be viral, even if it gets inherit virality such as social media apps. For my context, I have adpt to this. I will text it tpo see if it helps. Can you find and afford to market to the users of this product? 0 - No 1- Yes, however the CAC payback should take more than 6 months 2- Yes, however the CAC payback should take more than 3 months 3- Yes, and the CAC payback should take up to 1 month I can probably get I estimate on CAC using google ads tool or researching. And the payback could be estimated based on expected price and costs. It's all guesses on top os guesses though.
my product : sculpted furniture (the only thing that I have some expertise at ) > can the product be 10x better than the current ? no, I would have to use the same tools and materials as everyone else > can you find buyers and market ? yes, but only if I pay for search result boosting > is the market big and growing ? no, they would have to be all rich old men to buy special boutique furniture, and there aren't many rich old men in this country (romania). classical art is also dying due to modernism and minimalism > will the product have unique features that are hard to copy ? maybe! there are very few artists around, they would have to have at least the same skill as me, or operate a CNC mill which is also a rare skill. so there isn't much competition (in this country at least) > can you get the team, knowledge and capital to make it ? I have no idea how many artistically inclined people are around, and most people might run away when they see how tedious and demanding sculpture is. they might lose enthusiasm and it might take them years of practice, like a musician. you have to be very autistic to invest time in artistic skills. the knowledge is on youtube tutorials already the wood is expensive though, especially walnut and oak ( due to government shenanigans ) the capital? that's why I'm watching this :) yea, I'm probably not gonna make it, am I ?
Can you please do a video why you graded Facebook with a score of 169? I know it was 2004 launch but with MySpace already dominating with Classmates also lurking... 169 is extremely high score.
Hi Heine! Thanks again for sharing such useful info! I'm working on a feature that compares supermarket prices and I wanted to know which methodology does Vivno uses to get the pricing? e.g. is it based on partnership with retailers using their API // web scraping // price specifically negotiated by Vivno with retailers // partnership with existing price comparison? Thanks in advance!!
@@RawStartup Great thanks! Internal scrapping or agencies? Did you start at first straight with API or web scraping? Could you give an example of what other feeds? Apologies for that many questions totally understand if you can't answer
One of the most important videos I have seen on this platform. THANK YOU!
Tested 2 ideas score 18 vs. 72(108) . I made a tweak to the last one. This is a brilliant framework for quick validation, really like the questions
Thanks glad you liked and got a good score!
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@rasmustchristensen how you doing 2 yrs later
@@fgboii4687 haha exactly! good question
did your idea work?
Scored a solid 24. I'm curently a sole founder bt hopefully will get a great team to work with.
Three founders. Proud to say the most sceptic founder got 24 points, the realistic strategist 36 and the visionbearer original founder 72 (of course 🤪) Excellent then to move on to product market fit video as brainstorm inspiration for our next mvp. Mega appreciate your videos Heini. Cudos
That is a SOLID score with a credible spread between the founders. Thanks!
72 😮I wasn't even feeling optimistic before the test. LET'S GOOOOO!!!
36. You've created a brilliant method. Thank you!
I saw this video some time ago, but I kept some of the tips in my mind. The concept if my product is 10 times better, encourages me to make my best candidancy to Vivino.
Thanks!
Dear Heini Zachariassen, Excellent video and analysis system. Very much encouraged by our very conservative scoring that still gave us a 108. Thank you from Rowland Reeves and the US Space Team
108 score, except my truck broke and repair cost me $10,000.
Funding isn’t necessarily an issue for me, I would have put being able to afford it down to a 2 just because of my truck problem I paid for before starting my app, but I know I’ll have the cash for it soon enough so I’ll give it a 3. Damn truck😅
Now I’m dedicated, so I’ll never give up. I believe in this.
Keep pushing! Never give up!
72, probably why I’ve had an easy time attracting very talented people. Thank you so much for your content by the way it has been very helpful in my investor pitches.
Great number and happy to be of help!
How you doing after 10 months
Love this. Missing one parameter though: Do you love this and will you love working on it for a decade+. Case in point: Vivino vs BullGuard. Love the channel. ✨🚀
You are right you have to do that check before or after, check for love, passion and fun! That is really important too. Thanks!
Totally agree - you need the passion to keep going!
That's a good point, particularly in fringe cases where th escore is around the 20 mark, the founder team's passion for the subject matter can carry a long way.
Very nice framework, now I can see better the parts of I need to focus and improve more
I was conservative and I scored 36. My lowest score was on defend ability which I scored a 1. Although I will have IP in place, I suspect existing large companies in the field will find ways to get around it with their own versions.
We came up with this framework in the past:
Value/differentiation
Market size
Skills/resources
Feasibility
Time horizon
Risk
Financial prospects
Excitement
We scored them quantitatively from 1 to 10, then computing the average.
But deciding qualitatively.
Great, thanks.
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I really like your videos man ! Short , Strong and very qualified videos !!! learn alot from you !
Fantastic, yes no time to waste ⌚😎
Spot on! I hope you post this on other social networks to see more people share their score result!
Thanks, yes, will try and get it out there!
T⃜H⃜A⃜N⃜K⃜S⃜ F⃜O⃜R⃜ W⃜A⃜T⃜C⃜H⃜I⃜N⃜G⃜ ,F⃜O⃜R⃜ F⃜U⃜R⃜T⃜H⃜E⃜R⃜ D⃜E⃜T⃜A⃜I⃜L⃜ O⃜N⃜ F⃜I⃜N⃜A⃜N⃜C⃜I⃜A⃜L⃜ S⃜E⃜R⃜V⃜I⃜C⃜E⃜ K⃜I⃜N⃜D⃜L⃜Y⃜ C⃜O⃜N⃜T⃜A⃜C⃜T⃜ U⃜S⃜ O⃜N⃜ W⃜⃜H⃜⃜A⃜⃜T⃜⃜S⃜⃜A⃜⃜P⃜⃜P⃜⃜ //+•1 4 0 5 5 8 6 4 4 1 9 //😊€€€$$
Thank you. You break it down to its simplest common denominator
Thanks yes trying to make things less complicated
I like your framework a lot - I will save it and use it in the future!
There are some very sharp ideas embedded in it!
Glad it was helpful!
T⃜H⃜A⃜N⃜K⃜S⃜ F⃜O⃜R⃜ W⃜A⃜T⃜C⃜H⃜I⃜N⃜G⃜ ,F⃜O⃜R⃜ F⃜U⃜R⃜T⃜H⃜E⃜R⃜ D⃜E⃜T⃜A⃜I⃜L⃜ O⃜N⃜ F⃜I⃜N⃜A⃜N⃜C⃜I⃜A⃜L⃜ S⃜E⃜R⃜V⃜I⃜C⃜E⃜ K⃜I⃜N⃜D⃜L⃜Y⃜ C⃜O⃜N⃜T⃜A⃜C⃜T⃜ U⃜S⃜ O⃜N⃜ W⃜⃜H⃜⃜A⃜⃜T⃜⃜S⃜⃜A⃜⃜P⃜⃜P⃜⃜ //+•1 4 0 5 5 8 6 4 4 1 9 //😊€€€$$
Thanks for the wonderful information.will start following you
I like the approach you used. Tested a simple idea linked to our daily lives and got a 24. :-) One thing I would add is timing which can be an extremely valuable asset as well.
Timing is incredibly important, I didn't include it because it can be really hard to tell with regards to timing, are you early or late, often hard to say.
@@RawStartup Sounds like an idea for a video.
Amazing content Heini! Thank's for all your good work
Thank you very glad it was helpful!
Used your grading scale for a new app I'm working on. Nice
That was great, I have just missed the problem valuationit's kinda implied on the acquisition, but for me, is important to think problems first.
Maybe something like:
How likely is that the problem is so strong that people would use regularly for even a beta / unfinished version of a solution?
0 - No, it needs to be perfect for people to use.
1- Yes, if it is free
2 - Yes, if it's cheap ($1-$10 or small % fee)
3- Yes, even if the price is close to close to $100 or large % fee (~20%).
*for B2B, price x 10
Thank you some good ideas here
Great framework and actually makes sense
Thanks, glad you found it useful!
This was very helpful in helping me to more objectively evaluate my idea and give me things to think about to improve.
Thanks, glad it was helpful!
We have a subject at my university where we were tasked with finding a startup idea and explaining how we would bring it to fruition. My idea received a score of 36.☺
2, 2.5, 3, 2, 2. Thank you, I needed this.
Glad it was helpful!
How you doing a year later
Thank you so much for the validation; 172 (and yes, I was pessimistic in my scoring).
Great and useful content. Being a rational optimist we got 54 for our nordic SaMD/IoMT startup running currently on grants. We'll keep going :-)
Thanks, yes keep pushing! Good luck!
Thanks mate. Very well articulated.
Glad you liked it
Went through the exercises twice with my business partner. On the 1st pass we scored a 72, we went double pessimistic on the 2nd pass and scored a 24. Now to find a Hustler to join the team to up the score of questions #2.
Thanks, great, good luck!
ts a new way for order management through my app
at present people are using phone call or whats app message
so if they shift it will be not 10 rimes but 20 times more better
as of know dont how to give score for product
please help
Go and build it, good luck with it!
The most insightful video I’ve seen !!
Thanks, very much appreciated!
Heine, when you evaluated facebook and vivino using this model, did you consider them after they had become established platforms? It is relatively easy to "copy" a social network platform idea, before the content/users have arrived. Other ideas will seem better, at an early stage, if one assumes that the users/content is already present. I am asking because, I am pondering an idea which in its infancy will be easy to copy, untill it has build a moat, just like these examples.
Thanks yes a very good question. This is after you've reached some traction. It may be easy to copy in the beginning like Vivino and Facebook, but later it becomes really hard. You should rate a bit down the line, are you building a wall of protection that makes it hard to copy.
@@RawStartup Thank you. I really appreciate the advise you are giving,it's like having a mentor though I have never had the opportunity to meet you.
@@RawStartup I will now be using your method to evaluate deals, in a small angel fund I am setting up with other young Danish Founders
Wow, that is GREAT content.
My original idea was 18 points, but a better way of doing it came right on the heels of that 18 pt score.
Thanks great!
Also consider a red ocean vs a blue ocean. Fantastic stuff you put out, I’m subscribing!
Thanks, I appreciate that. If you look at the product and whatever you do being 10 times better then that should say something about the competition. If it is a red ocean it probably isn't 10 times better than what everyone else is doing. Thanks for the comment!
54 was my score easy to build with a small team but that makes it difficult to defend
Thank you for this video. Pls share some tips on good execution ideas.
Thanks, I'm not sure I have those, you probably need to find them.
Thank you for this great evaluation method. However, I'd like to challenge the formulation of the first question.
Being 10x better is a too strong threshold. Was the solution of tesla 10x better than other car manufacturers? What about Instagram compared to Facebook , tiktok compared to Instagram or uber compared to a traditional taxi company? In terms of revenue, users or many other metrics these business ideas where not even close of a 10x factor.
What a gem
Love the idea. I had mine at 48 to 124. depends on the product maturity.
Solid scores!
When you say the market is small ? Any numbers below to identify
Always tricky to find, but check this video, might be helpful ua-cam.com/video/hcFUHzMkGBo/v-deo.html
Hi Raw startup,You are building a great content along with a great startup.We are also working on a idea in proptech and we score 48 ,Again thanks for such amazing content.
Great, thanks and good luck!
Hey, were you able to execute your plan ? And did the score of 48 helped ?
Very informative video and i give it over 100. Thanks!
Thanks, glad it was helpful!
Great framework but it might be missing one factor like „accessibility“: How hard is it to enter the market and realize the potential despite regulations, low awareness, high costs for sales and marketing, competition and so on. Or would you say these are contained in the other factors?
Firstly, I would like to thank you for sharing your knowledge, your videos are helping me a lot in framing my startup idea into reality. My score came to 54, looks like I have a good chance here :-)
Very welcome, yes sounds like a solid idea!
hey! may I know what niche is your idea around?
Good video, yes the first Idea and final build tend to be so drastically different
Thanks yes very true.
Thank you for this great content that will be very helpful to me. I am working on a project that scores 12. I think I can improve this score with a thorough knowledge of the market. I want to launch this in 2022 :)
Great, best of luck to you!
How's it going
can we add scalability as the 6th factor in it? in that case what will be the good score?
Good point, you have to be able to build at scale. It is meant to be in Buildability, but maybe it should be clarified. In acquisition there is also some virality. .
@@RawStartup thank you for your guidance
Hmmm. I believe need to revise on build ability. for example If 4=1 and 5=3 it will give out better output with less good ideas.
Incredible quick test. Thanks a lot.
Exc Video as Always!! But I have one request, marketing? How important is marketing for a product? Budget? Frecuency, content? Can you make a video explaining this topic?
Thanks in advance; I’m a huge fan and working on my site using all your tools!
Thank you very much, very glad you like the content. I may need an expert to help me do that video, but I agree it is a very important and interesting topic that I should look into.
That would be great, for example, I’m curious about how marketing strategy was implemented on vivino app!!
Heini, I’m on my way with my online site and let you know when success arrives!
I have an awesome survey on my recent video for a big break through for Evolution of Conciousness and Quantum Entanglement. You can check it out and use some of the questions to answer in your upcoming videos if you'd like.
Thanks, I don't fully understand what survey you mean and you suggest I use it.
Great video. 32 here. May go for it as its all in execution
When evaluating market size, what constitutes big numerically? Is this more than 20 million/2 million/200,000/20,000 users ? I am not sure how to grade this point and would appreciate some advice.
Thanks it is all about the combination of how many people buyers/users and how much they would spend per year. So 20000 buyers is good if they spend $1 million a year. However if they spend $100 a year you need a lot more users/buyers. The total number should usually start with a B, being in the billions. More information here ua-cam.com/video/hcFUHzMkGBo/v-deo.html
My score was 113. But is this applicable to a non-tech product such as an appliance ?
Yes, I think it can be!
"Be pessimistic." Great advice for an optimist for this exercise. However, the questions are worded optimistically enough that I'd rate many successful companies zero on a number of factors if I'm being pessimistic. Humans aren't great at estimating probabilities, though, anyway.
Thanks, yes true we suck at probabilities!
Multiview Media score 48. Thanks for the info Heini.
Solid score!
@@RawStartup 👍
@@raymeadham1753 hey,
What's that idea, am from India!
Hi Heine, am thinking of floating a small FinTech start up in Australia. Although, i got a score of 12 using a very pessimistic response to your metrics. Can you suggest a very affordable app. developer for a small time start-up with no investor?
That is tricky you go out and find somebody
Great video, thanks! I came up with 108 on my project but it’s a one hit wonder product (hopefully) in the pet (dogs segment) industry. I have marketing experience in social media which could help make it viral.
Sounds good, good luck with it!
@@RawStartup thanks, we will need it, nothing is guaranteed.
Thanks for your business insight tutorial
Very welcome!
This is just perfect 🤩
Lovely 🥰 video to filter it out ❤
48 or 72. Lets spell it 48. Very informative video and well stuctured.
My idea scored 162 however it also scored 88 out of 100 using Josh Kaufmans framework so the idea definitely has merit.
Are you Zuckerberg?
Greetings! Thank you for the nice video, great framework and explanation. As I am planning more than an idea (but not the same time), few of them aren’t inventing the wheel but entering an existing market. For example, I am considering a one person company in the field of international real estate brokerage. So basically matching an investor (for residential or commercial real estate) with a real estate developer or owner of a property.
So, from your framework, it is possible that the first point is more of a zero, which will automatically everything else is a zero (and this makes the framework weak in that sense in my opinion), meaning, anyone starting such a business will fail?
Unless there is a different framework for startups of existing business models, who will try to work on the other factors, i.e better customer service, closing a market gap etc…
Would be nice to have your input. Thanks
Thanks for your videos. If you want to build a personal brand, is it a good way to make surveys and speak in business events or startup conferences?
Not so sure about surveys, but yes speaking on all kinds of stages can help.
I got a 36! This isn’t my invention, I’m bringing the tech to my community.
Solid score, good luck!
Amazing! I score 12.
Great! Maybe you should play around with it a little bit...
Hey Heine, i am loving the content, awesome work.
Do you have content on real estate listing website startup? If yes pls share the link otherwise guide as i am doing some research on it. I would apprecite your kind response.
Thanks that is a little bit outside what I normally do
Great video and framework. Using this system, being very hard on each, I scored an 18. Second time, scored a 108.
Question, if you don’t mind. What’s your thoughts on building a micro saas that depends on data that is freely available? U.S. government data.
Currently, Vivino can leverage its 50 million plus user base, no doubt. However, going back to its conceptual phase, what would be its dependability score? In today's tech landscape, almost any app can be reverse-engineered.
Thanks prefer to build a business that has as little dependability as possible. Makes life a lot easier. We had almost no dependability as we built everything independently from the industry, data everything, no waiting for anybody just pushing forward.
For buildability especially for a startup, it could be a great idea but a team and all the resources may not immediately be available and hence, bring down the start up idea score
Yes very important
I'm a 29. Great test. Thank you.
Nice, go build it!
Great channel, thanks for the very practical advice. One question on defendability what if this is a new product category and I have a patent, But it is not hard to build?
Thanks, I guess it is good to have a patent, but I wouldn't rely on it. Always build fast, move faster than anyone else that way you won't have to rely on the patent. You will just be better as you build faster.
I made an app that should solve exactly this problem but with a different score calculation. I think I will add this formula too, it seems to be more solid 🤔
Great good luck with it
I got a score of 12.
Willing to step-up my startup
Maybe you change it a little bit to get a higher score.
Defendability is confusing, have you had all the data that is hard to copy from the start?
No we did not, very often you build defendability over time
Hey Heini, thank you a lot for this great evaluation system, and I want to ask if this system was created by you? or if it's a well-known system between the investors which we can rely on it or even use to prove a part of the idea for angel investors.
Thanks, yes this is a system that I created based on my experience and research.
Startup guru 😍😍
Great quick tool thanks
that was quite clever way to be objetively deterministic
Thanks!
The acquisition part I found hard to guess. I fill that most ideas would be 2. It's hard to say if the product will be viral, even if it gets inherit virality such as social media apps.
For my context, I have adpt to this. I will text it tpo see if it helps.
Can you find and afford to market to the users of this product?
0 - No
1- Yes, however the CAC payback should take more than 6 months
2- Yes, however the CAC payback should take more than 3 months
3- Yes, and the CAC payback should take up to 1 month
I can probably get I estimate on CAC using google ads tool or researching. And the payback could be estimated based on expected price and costs.
It's all guesses on top os guesses though.
Thank you very much, this is good feedback you're also taking it one level deeper.
My score is 18. Thank you
Welcome, that is ok, maybe you can do some small changes and improve it even more.
BRILLIANT
Thank you!
Amazing content, thank you. I thought 36 would be an abysmal score but what did I know :)
Great, yes that is a solid score.
Thank you sir it was worth to learn
My turn out to be 72 points
Thanks that is SOLID
Thanks for this.
I landed on 64 - but KISS DanishLanguage School was started long ago. Yes, it clearly could expand greatly, but I am actually thinking of retiring.
Thanks, good luck!
my product : sculpted furniture (the only thing that I have some expertise at )
> can the product be 10x better than the current ?
no, I would have to use the same tools and materials as everyone else
> can you find buyers and market ?
yes, but only if I pay for search result boosting
> is the market big and growing ?
no, they would have to be all rich old men to buy special boutique furniture, and there aren't many rich old men in this country (romania). classical art is also dying due to modernism and minimalism
> will the product have unique features that are hard to copy ?
maybe! there are very few artists around, they would have to have at least the same skill as me, or operate a CNC mill which is also a rare skill. so there isn't much competition (in this country at least)
> can you get the team, knowledge and capital to make it ?
I have no idea how many artistically inclined people are around, and most people might run away when they see how tedious and demanding sculpture is. they might lose enthusiasm and it might take them years of practice, like a musician. you have to be very autistic to invest time in artistic skills.
the knowledge is on youtube tutorials already
the wood is expensive though, especially walnut and oak ( due to government shenanigans )
the capital? that's why I'm watching this :)
yea, I'm probably not gonna make it, am I ?
You might well make it, but it doesn't feel like a high growth fundable business. Still it could be a great business.
Thank you so much !!!!
You're welcome!
Can you please do a video why you graded Facebook with a score of 169? I know it was 2004 launch but with MySpace already dominating with Classmates also lurking... 169 is extremely high score.
Thanks really it is just math they got a 3 on everything except Market where they got a 2.
36...rolling with it
Go for it! Good luck 🤞
Build ability you 1 & its 24 if this one is 3 then drastic to 72 .. can’t agree with this formula 😞
Thanks that's ok we can't agree on everything
I got a 24 but If I only secure the funding it would easily be a 48
What’s considered a big market
A market where you can grab a small piece and still build a big business. Usually in the billions.
My idea score is 4.
How is about.
Yeah it probably needs a bit of work
Got 48 Thank you.
Welcome 48 is solid!
Thanks a lot 🙌
Always welcome
Hi Heine! Thanks again for sharing such useful info!
I'm working on a feature that compares supermarket prices and I wanted to know which methodology does Vivno uses to get the pricing? e.g. is it based on partnership with retailers using their API // web scraping // price specifically negotiated by Vivno with retailers // partnership with existing price comparison?
Thanks in advance!!
Thanks, actually all of the above, user reports, scraping, APIs and other feeds.
@@RawStartup Great thanks! Internal scrapping or agencies? Did you start at first straight with API or web scraping? Could you give an example of what other feeds? Apologies for that many questions totally understand if you can't answer