IDEA #1 | STARTUP

Phone Restriction for Events 📵

Solving phomo

1. Problem/Opportunity❓

I’ll be blunt here. Smartphones have ruined concerts.

With everyone vying to take pictures and videos to get those sweet Instagram story views no one’s actually living in the moment and just enjoying themselves.

This isn’t just true of concerts - schools, weddings, courtrooms etc. would all be better without phone. A company called Yondr offers a locked sleeve solution to this problem. But as you can see from Nick’s experience that doesn’t always work out too well.

This is a software problem. So let’s create a software solution to solve it.

2. Solution ✅

The idea: create a software platform which allows event organisers to lock people’s phones during events.

Here’s how it works. Users download the app before receiving their ticket. Then once an event starts their phone is locked with all alerts turned off. Event organisers have the option to allow phones to be unlocked at certain points during the show, like for the last song, if they would like.

In the event of an emergency a particular phone can be unlocked by a staff member or all phones can be unlocked at the tap of a button. Phone’s notifications could be monitored for keywords like “emergency”, meaning if someone needs to be informed of an emergency their phone unlocks automatically.

This approach means that everyone keeps their phones and doesn’t have to queue to hand them in or collect them them before or after the concert.

3. Business Model 🏦

Go-to-market: start with a single industry, say theatres, and test out the tech with them first before casting your net wider.

Monetisation: charge a fee per installation

Startup Costs: since it’s a software build startup costs should be pretty low here

4. How You’ll Get Rich 💰

You could exit here to an events company like Fever or a ticketing company like Ticketmaster

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IDEA #2 | STARTUP

BetterHelp for Executives 👔

Keeping the C-suite C-sweet

1. Problem/Opportunity❓

Reaching the C-suite is the ultimate goal for anyone who works in business. Although you may get some pushback from parents who don’t understand how the business world works.

But being a high ranking executive is extremely tough. Sure it comes with a fat paycheck, a corner office and plenty of other perks. But high-level executives face immense pressure and are prone to stress, burnout and other mental health challenges.

A study by Deloitte found that nearly 70% of C-suite execs said they are seriously considering quitting for a job that better supports their well-being.

There are just under 4m C-suite executives in the USA. That’s a lot of people who need help right now.

So let’s provide it to them.

2. Solution ✅

The idea: create a platform which provides mental health support to high ranking executives in businesses.

Here’s how it work. Executives sign up to the platform. They can even chose to remain anonymous if they want to. Once they join the platform they have the option to be paired up with a therapist. These therapists specialise in working with people in high functioning, high stress positions, combining therapy and performance coaching into one. These sessions can be completed in person or online.

Executives are also invited to facilitated group sessions where they can openly speak about the challenges they’re facing, getting help from others in the group.

3. Business Model 🏦

Go-to-market: begin by working with a small number of executives for a very low fee to prove out the concept

Monetisation: executives pay a subscription fee for ongoing access to the platform

Startup Costs: minimal startup costs, the tricky part here will be getting your first few customers

4. How You’ll Get Rich 💰

Exit to a company in the space such as (you guessed it) BetterHelp.

UNHINGED BUSINESS IDEA

Guilt-based Tipping App

America’s tipping culture is amazing. Being asked to tip absolutely everywhere you go makes complete sense. But unfortunately many Americans refuse to leave a hefty tip for even the most basic services.

Well not anymore.

Using this app businesses can guilt customers into tipping servers by showing how badly they need the money. Cody’s got student loans to clear, so you’ve gotta tip him right?

BIG DECK ENERGY

WeWork’s $335m Series D Deck

Year: 2014

Stage: Series D

Amount: $335m

The rise and fall of WeWork is the stuff of Silicon Valley legend. An eccentric founder, backed by an equally eccentric financier, rose to the top only to come crashing back to earth. We’re still waiting for Softbank to make good on their promise to turnaround WeWork as they outlined in this slide they presented to investors back in 2019. And no…we’re not joking, this is a real slide they presented to investors.

But before its fall from grace back in October 2014 the company raised a staggering $355m at a $5bn valuation. Here’s the deck they used to do it.

THE MONEYSHOT

+$10m from Selling Potatoes

Being Irish we have a particular fondness for potatoes. They’re delicious, versatile and have fed Irish families for generations. An S tier food if ever there was one.

But apparently there’s someone who loves potatoes even more than we do, and his name is Alex Craig.

Back in 2015 Alex founded Potato Parcel, a company that delivers potatoes with personalized messages of up to 140 characters or pictures to loved ones.

The business made around $213k in sales in their first year and in 2016 Alex appeared on Shark Tank…dressed as a potato…of course. He appeared alongside Riad Bekhit. Riad actually bought the business from Alex for $42k before they appeared on Shark tank. You can see the pitch here (we could only find a reaction video to it, not the original)

While recent figures are hard to come by as of 2020 the company had sold over 70,000 parcels, or over $7m in sales. It’s safe to say that by now the business has done around $10m in sales over the course of its life.

Not bad for selling a few potatoes.