All Startup Competitions Are Unfair. Don’t Whine. Here’s How To Win.
on Feb 17, 2009 - 6:58 PM PSTTo all the people who whined that Twiistup’s startup competition was unfair, here’s my answer:
You’re right. All startup competitions are biased. Now stop whining and learn to win.
I was a judge at this past Twiistup, so I got to see the process from the inside. I’ll teach you what I learned so you can use it to win other startup competitions.
The benefits of participation:
It’s easy to say there’s a little unfairness in these competitions and opt out, but if you do, you’ll miss out on a ton of publicity, traffic, and potential funding. Twiistup founder Mike Macaadan and his crew worked for months to get attention for the startups that competed at Twiistup.
It’s worth spending a few minutes to learn the biases of these competitions so you can do well.
Bias #1: Awareness
As a judge, even though I strove to give every startup equal consideration, I have to admit that it was easier for me to vote for companies that I knew well. Sites like Causecast.org whose people spent months showing me their product, had an advantage.
The solution is to keep showing your site to influential people in the startup community. Brian Solis, for example, is at every one of these events. If he’s not a judge, whoever’s judging is likely to get his input. If you have a startup, next time you see Brian at an event, show him what you’re working on. Do the same for these guys, and for this guy, and for anyone else who think has influence.
Bias #2: Simplicity
I really did spend a lot of time trying to understand every startup I voted on. But the ones that were to understand to get were harder for me to vote for.
The solution is to have a video tour on your site–preferably on your homepage. I couldn’t understand what RoboDynamics was when I first saw. I was going to cross it off my list and move on, until I saw these videos. Once I saw their robot in motion, I understood the product. And I voted for it.
Bias #3: Self-interest
I’ve heard several people complain that TotSpot won the people’s choice award at Twiistup because they gave tequila to guests, while other companies showed their sites. I hate to break it to the other startups, but even though it’s a startup competition, there’s one thing guests care about more than the startups: themselves. TotSpot got people’s vote because they paid attention to what people wanted.
The solution is to figure out what guests want and give it to them. That doesn’t necessarily mean alcohol. Guests at sartup events often have their own sartups and are looking for funding. Consider having your investors work the crowd with you. Or maybe they’re hungry and you could order in food to make them care about listening to you. I’m NOT saying you shouldn’t have someone on hand to talk about your company–guests always want someone knowledgeable around. I’m just saying your site’s not the most important thing for guests.
Bias #4: Application
Judging Twiistup let me see the full list of startups that applied to compete. I can’t believe how many companies were left off the list. If you didn’t apply, don’t be upset with the companies that were selected. If your startup is better than the ones that got to compete, no wonder you’re upset–but understand who’s really at fault.
The solution is to apply next time. Come on. You can’t believe the promotion that organizers of Twiistup and related events will do on your behalf if you apply and are selected to compete at their events. It’s the kind of free publicity that a young startup can really use. I hope you take advantage of it.
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February 18th, 2009 at 1:45 am
Definitely true. People should know this from fund raising. It’s all about introductions when pitching to investors. Same with competitions.
Thanks for the RoboDynamics link. I happen to be working on something similar for my engineering senior design project. That was an eye opener. Guess I have some competition haha. :-)
February 18th, 2009 at 11:35 pm
great post! Thinking back about the event, I realized our weakness was that I did not identify and network with all the judges effectively. I suppose I lacked awareness, thanks for pointing that out.
Even though we did not officially win twiistup, I want to share how we won in our own way by being present and having a platform to participate:
1. we got to teach people about energy efficiency and clean energy. This is what we do best, and it was very fun teaching people who are not normally exposed to the technologies we offer. We generated leads and collected contacts of people who want to follow our progress.
2. From a SEO preservative, we got a lot of links. My google alert for “gogreensolar” blew up after the event. Reporters and attendees wrote about and linked us in their content which increased our search presence on important keywords.
3. Revenue! Someone who visited our table, ended up buying from us! woo hoo!
We’re not whining over here, I’m happy we got a chance to add value to and had a chance to present our company to some very interesting people. I’ve been involved in a few startup competitions in the past and I have realized that building a successful company is a marathon, so it doesn’t matter if you win competitions but how well you can execute and help customers after a competition that really counts.
March 16th, 2009 at 5:09 pm
Re. Simplicity and Videos – couldn't agree more, at ProCasts I lead a tight band who create custom screencasts that explain software products and web-apps as frontpage videos.
My past start-up was http://ShowMeDo.com, an open-source focused screencast education site (visitorship: 100k/mo.). Between the two I'm happy to offer advice to anyone who is wondering if screencasts might help explain their product to their site visitors.
Much obliged for all the interviews (great Baron RvW interview!), loving your site.
Ian.
June 27th, 2009 at 2:11 am
where is the mp3?
June 27th, 2009 at 9:11 am
where is the mp3?