FAQS for Startups
In our ongoing discussions with startup founders and visionary entrepreneurs, we get asked a lot of great questions. We've done our best to collect the most helpful questions, and answers, below for your enjoyment and enrichment.
Remember: the path to building a successful startup business is never straight (but we do our best to light the way).
Q: I've already invested almost six figures building my idea, is that ok/normal?
Yes, it is quite normal, but be careful just the same if you're investing all of that in one basket (like building your product or MVP, especially an online platform or app of any kind, without having a very clearly defined strategy or idea of who you're building it for). If you continue down this path, you may end up with a semi-functioning product that is completely not tuned for the consumers you want to reach, doesn't meet their expectations, and doesn't speak their language, visual or otherwise.Most of our startup clients (founders who are heading in the right direction) within the first one to two years have well over six figures invested into developing everything that goes into building, launching, and growing a strong, consumer-market focused venture.
Q: Can I get funding for my idea though I haven't created anything or invested my own money into it? (I have the most amazing idea and this really long pitch deck)
There is a 99.9% chance the answer here is "absolutely not."
Everyone has ideas, but very, very few actually execute.
Of the few that execute, even fewer are able to create a fundable, ROI-ready startup without a massive waste of their own small amount of capital, especially those who take the idea of "the lean startup" and "bootstrapping" to the extreme. (Yes, those are both good concepts to employ, but there can be severe limitations to growing your startup if taken to the extreme).
And if you are one of the lucky few who actually make it to the point where you're talking to a potential investor, and yet you have no "skin in the game" (you've not invested in your idea), then why would they invest in the idea, if you haven't invested in the idea?
Q: Can you do my fundraising for me?
No, fundraising absolutely cannot be delegated outside of the founder(s).
We know, it's freaking hard...yes, a ton of work, and there's no silver bullet, but YOU the Founder have to be the one to sell the idea, and what you've accomplished. If you can't, then no one else can either (assuming outside funding is necessary, and makes sense for your startup or new venture...it doesn't always need to be the end-game).
What we can do though is help prepare you for this, when the time is right, including pitch deck creation, forecast creation, go-to-market plan development, as well as be your support team as each and every curveball comes your way during this type of process, regardless of whether you're right and ready for venture capital, or need to find more of an "angel" style of investor.
For a deeper look at the "360 degrees of brand + marketing" terrain that we can cover for our startup clients from the earliest stages, take a look at the Our Services section of our website.
Q: What type of startup or brand really is the best fit to work with your agency?
We’re glad you asked! To paraphrase the Spring/Summer 2019 issue of culture mag Highsnobiety's preface (penned by their ever-poetic Editor-in-Chief, Pete Williams), HypeLife Brands is for anyone who challenges the old ways and seeks to build anew.
HypeLife is for those startup founders and visionaries looking to redefine the way we express ourselves as we learn how to do better and be better in the future, not just for the Millennial generation, but ultimately, for all.