Evaluating startups

Recently I met quite a few startups through business/coaching and it has led me to one simple question.

What if John Lennon pitches to modern day startup investors/mentors/judges about making songs that could change the world?

The following is probably a good indication of what may happen…

What pain points are you trying to address?

John: Um.. people love listening to music but often struggle to find good songs.  Think about it, when was the last time you heard a really nice song? The world needs songs!

What is the market size?

John: Well, the global music industry is about 43 billion dollars.  But then we are focusing on a niche market in which the lyrics is exclusively English.

Who are your competitors?

John: There are other songwriters but they are not as good. I make songs good and I make songs fast. Therefore I am on the upper right quadrant of the competitive analysis.

How is it scalable?

John: I guess I can publish it through Apple music, Spotify or I may post it on Youtube and making money via advertisements.

How do you market your music?

John: I will post it on my website, optimise the SEO, pay money for Google Adwords and Facebook Ads, and of course getting KOLs to endorse my music. Better yet, simply going viral on social media! Have you heard of PPAP?

What’s your traction thus far?

John: I made ‘Dig a pony’ and it’s ok… I just need investment for better sales and marketing and it will become much more popular.

What’s the social impact?

John: People are happier when they listen to music. And they are generally more focused running on the treadmill while listening to music. Imagine a healthier population! Also, I will be giving my music free to the underprivileged groups. Or perhaps using the TOMS buys 1 give 1 model.

***

I don’t know why this all sounds a bit cynical or funny (depending on one’s perspective) but this is probably what is really happening in our startup industry right now.

What’s missing here?

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