I met with Jeff Robinson, the organizer of Barcelona Internet Startup Meetups, C.E.O. Internet Advisory Corp. He and his Meetup.com group offered us feedback on the business model and on the segment that we would choose for an online rental business that me and my friends are working on right now.
He has 30+ years of capital market experience – everything from desk and floor trading to investment banking and was interested in the business idea, thus validating the direction we were heading, which was great.
The key takeaways we got from the meeting were:
- stick to a simple and transparent model
- the rental idea was validated by the group
- suggested to focus on a single segment
- a business that can attract investment must have an MVP that is regularly used by 100 people or so to prove the model
I think it’s very important for a group that wants to launch a startup to network and seek feedback as much as possible. Meetup.com is just one way to tap into the investor and like-minded entrepreneurs networks which can provide invaluable ideas, perspectives and tweaks that you might not have come up with in your own brainstorming sessions. What’s more, these type of events can give you a sense of what success means to an angel investor or for an up and running startup.
Always go prepared and have a targeted problem to address. For us it worked that way, it might work for you, too.