020: The biggest problem in startups remains unsolved

Startups with customers face different challenges than startups with no customers. But conventional startup strategies don't make this distinction — there's no Playbook A for startups with customers and Playbook B for startups with no customers. In this episode, Mike makes the case that founders of startups with no customers are underserved, explains why even the most accomplished entrepreneurs can't solve this problem, and introduces Nascent methodology as the dedicated playbook for founders who need to quickly evaluate their startup ideas in days. In this episode: (00:00) Hook: there's no dedicated playbook for startups with no customers (01:36) Intro: welcome to the Nascent podcast (02:04) The gap in conventional startup strategy (03:08) Founders are special creative people with unlimited ideas but limited time (03:52) The ERNY value™ — Estimated Revenue Next Year (04:18) Nascent's two audiences: Birdie (repeat founder) and Phoenix (pivoting founder) (06:24) First-time founders: "This will work!" vs "Will this work?!" (07:36) "I can explain it to you, but I can't experience it for you" (08:28) Why haven't startup experts solved this problem? (09:36) Native speakers vs. foreign-language speakers (11:12) Paul Graham's "internal compass" (12:04) Kim, the native speaker of startups (12:48) Detailed measurements in Nascent methodology (13:28) CTA: Was previous advice detailed or just touch-and-feel? Links and sources: - Eric Ries, The Lean Startup (quotes from pages 4 and 47) — https://theleanstartup.com - Steve Blank, "Build it and they will come is not a strategy. It's a prayer." — https://steveblank.com/ - Paul Graham, "Before the Startup" lecture at Stanford — https://www.youtube.com/watch?v=ii1jcLg-eIQ - Helen Rennie, "How to Make Egg Pasta" on YouTube — https://www.youtube.com/watch?v=m_fu5RaXMVk&t=40s Nascent frameworks referenced: - ERNY value™ — Estimated Revenue Next Year from the ground up with no customers today, calculated by analyzing recorded discovery interviews - Doubtful vs. possible — the binary assessment Nascent delivers against the question, "Is success for this startup idea doubtful (stop) or possible (keep going)?" Subscribe and follow: - Newsletter: https://nascentstartups.com - LinkedIn: https://linkedin.com/in/mikevladimer - YouTube: https://www.youtube.com/@Nascentidea - Spotify: https://open.spotify.com/show/5BtFtYF6nVUkLu7d7VVnSY - Apple Podcasts: https://podcasts.apple.com/us/podcast/nascent-podcast/id1728760830 Work with Mike: https://nascentidea.com Conventional startup strategies are for startups with customers. Founders of startups with NO CUSTOMERS need a dedicated playbook. Nascent is the playbook for startups with no customers -- a methodology for founders to decide within days (not years!) whether their idea is an opportunity worth pursuing.