BUSINESS IDEA | STARTUP

Founders’ Net Worth Calculator✖️

Worth a shot

Available Domain: Worthpulse.com

1. Problem/Opportunity❓

The Problem/Opportunity: If I asked you who the richest person in the world is you’d tell me (after checking Google) that it’s Elon Musk, whose net worth is sitting at a cool $222bn. Like this dude is so rich his hair just magically grew back.

But if you asked a typical startup founder what their own net worth is, they couldn’t tell you, which is insane. So let’s create a tool to solve this.

Market Size: Hard to know but ultimately market size won’t be a limiting factor here

2. Solution ✅

The Idea: A platform which calculates and tracks a founder’s net worth over time

How it Works:

• A startup founder signs up to the platform and connects up their personal bank accounts, retirement accounts and details any other assets or debt they have personally

• They also connect up their business bank accounts and any software platforms (such as Shopify) they use to run their business to the site

• The platform uses this data to value their business for them based on the performance of the company and using industry comps

• This valuation is added to their personal assets/liabilities to calculate a net worth which can be tracked over time

Go-to-market: Start with a single vertical, like e-commerce, where you can develop deep expertise on these company’s valuations, then build out from there

Business Model: This is a data business fundamentally where you could anonymize this data and sell it

Startup Costs: You’ll need to build connectors here so you’ll need great engineering and data analytics to build this

3. How You’ll Get Rich 💰

Hold: The distribution you would build here would be incredibly valuable, so it could be tough to justify selling this business

Exit Strategy: You could also try to exit to a company like Acquire.com who would use this as a lead sourcing tool for themselves

TOGETHER WITH TIEGE HANLEY

Invest in yourself with Tiege Hanley

Gentlemen, it's high time we made self-care a priority, and that includes giving our skin the attention it deserves. Forget the myth that skincare is only for women or has to be complicated and pricey. With Tiege Hanley, starting at just $9 for first-timers, you can get healthier, clearer skin without breaking the bank.

Their Bare Minimum set is a simple yet transformative routine featuring just two products: a gentle face wash and an AM moisturizer with SPF. Not only will it keep your skin hydrated, protected, and refreshed all summer long, but it also tackles those early signs of aging head-on.

So why wait any longer and continue settling for anything less than your best self? Grab your skincare set today and witness results in as little as one month.

Don't wait any longer to unlock your best skin. Try Tiege Hanley today.

DRUNK BUSINESS IDEA

Spray Tan for Kids

It’s summer, which means we’re all out tanning as much as we can.

But for kids, who need to be protected from sun damage, getting a healthy glow is impossible. Or at least it was.

With this new, innovative, at-home product your child can get that sun-kissed look too. What a time to be alive.

JUST THE TIP

Trend 📈: Barefoot Shoes

Feet are quite a divisive topic. Some people love them (weird), some people hate them. But most of us don’t spend any time thinking about our feet, even though 77% of adults have experienced foot pain in their lives. And one of the recent trends out there is moving towards barefoot shoes, which strengthen the tendons and ligaments in the wearer’s feet.

Business Ideas

• Barefoot Shoe Conversion Business: A business which converts a pair of existing shoes into barefoot shoes

• Barefoot Shoe Marketplace: Create an online marketplace that aggregates various brands and styles of barefoot shoes, providing a one-stop shop for consumers.

• Barefoot Shoes for Kids: A line of barefoot shoes for kids to promote healthy foot development

THE MONEYSHOT

Creating a $250m Product in 3 Days

What if I told you there was a founder who made his first million before he was 21, sold another business for $250m and has invested in over 100 startups, all before the age of 31?

Well there is…it’s this guy.

This is his story.

Originally from India, Ankur Nagpal grew up in Oman before moving to California at 17 to attend UC Berkeley and study computer science.

At 18 Ankur landed himself a short internship which he took one key learning from…he wanted to work for himself. So that’s exactly what he did.

During his undergrad he and a few friends decided to build Facebook games and surveys. He created many apps including a fantasy cricket game as well as different Facebook quizzes, like “Dr. Phil’s personality test,” which I’m sure Dr. Phil was delighted about.

At the time Facebook apps were constantly blowing up and through selling ads Ankur managed to make his first million dollars before he was 21.

He spent a few years bouncing around and in 2013 Ankur moved to New York to figure out what he wanted to do with his life. He had some free time so he began teaching online courses in programming as a hobby.

Which is when he had his a-ha moment. He thought it would be cool if he could package this class he’s teaching and sell it on his own website.

He created a prototype in just 3 days and launched the site. Then after a few months other creators were reaching out to him since they wanted to launch their own courses too. He knew there was a huge opportunity here.

Ankur had accidentally launched Fedora…or as you’ll likely know it…Teachable.

He decided to go all-in, moved back to SF and raised a seed round of $1 million in July 2014 in just 2 weeks.

He was basically speed-running entrepreneurship.

Eventually Teachable grew into a company with over 100 employees and at its peak Teachable was doing $60m of revenue per year. But after many years of running the business Ankur fell out of love with his work. He disliked that he was spending all his time in meetings and was so far removed from the product and customer.

So in 2020, when Teachable was approached by Hotmart about a deal, Ankur sold for $250m.

Feeling burnt out Ankur wasn’t sure if the startup life was for him…but you can’t keep a great founder down. So in 2022 he founded Carry, an all-in-one platform for tax-advantaged accounts, investments and strategy for business owners.

Will he get another huge exit here? Knowing Ankur…probably.

We wish him luck!

INFLUENCER IDEAS

#HalfBakedBizIdea

Tallow Chefs cooking up an idea

DM us or use #halfbakedbizidea on X/Twitter to get your idea featured in our newsletter.