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How to prepare for unexpected success?

I'm working on a 'side project'. I have everything planned and can execute it.
So for this stage, I am focused on the mission and don't want someone else to distract me

Assuming there is a chance, even if slight, to hit the jackpot of the meteoric viral success.
For the tech stuff, I can prepare to scale up to manage more users and traffic.

But what else would come up?

Should I find a (non-tech) co-founder right now just for the option of the best case scenario?

How can I get someone to agree for not disturbing me right now and be there (for % or $) if and when I need them?

11 Replies

Shobhit Verma
3
0
Shobhit Verma Entrepreneur • Advisor
building an adaptive recommendation engine
Q: I bought a lottery ticket and there is chance that I win a lot of money in 2 months. I want to buy a huge mansion in LA but can only afford to buy it after the win. What services should I scout for in order to live a carefree life in that mansion ? Should I hire a poolboy full time ? What qualities should I look for in a good chef ? How do you find a good landscaping company ? What else should I be looking for ?
Answer: The reality is that once you win the money and buy the mansion, every week you will receive dozens of meeting requests from different service providers who will want to educate you on why you should want their services. Don't forget, you will make new friends (neighbours) who have already done this before and will be happy to help you out with requirements as well as recommendations.
If there is anything you can do to increase your probability of becoming successful, you are better off focusing 100% on that.
Eyal Feingersch
0
0
Eyal Feingersch Entrepreneur
Software Engineer
Great analogy, sums it up perfectly.

But assuming I have a better chance then that, and I'm going to be busy over my head if it it happens, should I prepare beforehand? for what and how?
Shobhit Verma
0
0
Shobhit Verma Entrepreneur • Advisor
building an adaptive recommendation engine
Then I will personally leave my job and help you full time ... and there will be thousands of me offering you the same. Because it will be worth our time and risk free. You will just need to choose who you like the best and who has the right experience doing this before. They will take care of the rest.
Eyal Feingersch
0
0
Eyal Feingersch Entrepreneur
Software Engineer
Isn't there some sort of a standard agreement like:

'you will be cofounder/advisor for 0$, 0% and 0 work, and if we hit target traction then you get X$ and Y% and do full time'?

The purpose is to have the person ready for work instantly, everything negotiated before.

I would also clarify on the other part of my question:
What kind of expert do I need to start working instantly, and what can I take the time to hire later?
Greg McClement
0
0
Greg McClement Entrepreneur
VP Business Development at Equel
Eyal,

Without knowing the context of both the work that you are doing and enough about whatever customer you are targeting, I think it is difficult/impossible to give you anything other than generic advice (which I hope you will find helpful).

In my experience, as a non-technical founder, getting your business going: the first few customers, can be very difficult. If you have a good solution, then getting the next set of customers tends to be much easier than the first. On the other hand, saying "no" or "not yet" is very easy. If a prospect shows interest in your solution - great! Tell them you will be back in touch when... (whenever the time is right).

Setting up a business relationship with a non-technical founder, for a solution that you are not ready to sell and perhaps don't know when you will be ready, is (in my opinion), a much bigger potential distraction than just saying "no" or "not yet" to any prospect that happens show interest in your solution.

Lastly, when you are ready to go to market (or know more definitively when you will be ready) you can bring your non-technical founder(s) on board. If you happen to have had inquiries that you said "not yet" to, that co-founder(s) will have a warm list of leads to work, which is leaps and bounds better than starting with nothing.

LikeShobhitsaid, focus on what you need to do now, which sounds like development, rather than finding potential future business partners and/or clients.

Eyal Feingersch
0
0
Eyal Feingersch Entrepreneur
Software Engineer
Context:
Founder is tech.
Product is social.
Users - yes.
Customers - no.
Nathan Terrazas
0
0
Nathan Terrazas Entrepreneur
Community Development at Everfest
I would take it one step at a time and execute first. Then continue accordingly. Sent from my iPhone
Dimitry Rotstein
0
0
Dimitry Rotstein Entrepreneur
Head of R&D at SafeZone
Generally speaking, I wouldn't worry about it.

The chances of an overwhelming meteoric success are incredibly low. Even those 10% of startups that do succeed eventually, do it far more slowly than the legends and the movies would let us believe. And if you're working alone, then your chances of success are even slimmer, and significantly so.

In any case, looking for potential partners now to join you in some unspecified future is largely pointless. Do you really believe they will sit quietly and wait for you to succeed? By the time you might need them they will probably have moved on, being too busy with something else. Even if not, they can change their mind, no matter what they've signed. You might even lose contact with them altogether. It happens.

And finally, if you do somehow have a meteoric success, why would you need someone else? Having too much success? Well, looks like you're doing just fine on your own, so why not keep it up?

That being said, you do need to be prepared psychologically for a huge success. The first time I ran a marketing campaign that unexpectedly went insanely viral, I nearly went insane myself out of happiness. And I don't mean it as a figure of speech. Fortunately, it was a very short-lived success (about a week), or who knows how it could have ended. But at least now I'm mentally prepared for success. I hope. Such an exercise, an unexpected but controlled short-lived success, might be a good idea for most entrepreneurs, I think.
David Austin
0
0
David Austin Entrepreneur
Entrepreneur
Anyone worth their weight to help at that stage is not going to have such open ended commitments. You're best bet is to set things up beforehand to handle overnight success on your own as much as possible. For example, don't build a website on a shared host for your website but instead have something you can immediately scale up huge like a very scalable well managed VPS where you can up your badwidth bigtime with little effort. I'd say go cloud, but unless you're a webserver wiz, I'd back off a bit. If manufacturing is a bottleneck, then pre-qualify multiple vendors beforehand. You don't want to sign on your most critical key member when you don't have time to vet him/her. Bring in people under you to do the menial, so you can focus on finding the right person. Nobody worthwhile will wait in the wings for you.
Eyal Feingersch
0
0
Eyal Feingersch Entrepreneur
Software Engineer
Thanks, everyone, for the answers.
Going to buy a lottery ticket, and going to win either one.
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