Welcome message to our community | Funding for leanstartup experiments

Welcome to the MilValChal (Million Dollar Valuation Challenge) private Facebook Group.

We are a community of entrepreneurs and mentors committed to creating scale-able or sustainable businesses using LeanStartup principles.

You and the other members of this group have organically and voluntarily completed and SUBMITTED 25 "problem interviews" and are actively trying to create a sustainable BUSINESS that adds value primarily for the customer segment with whom you spoke.

For folks who have done LESS THAN 25 interviews - we have used different language and tested different value propositions. NOW THAT YOU HAVE DONE ALL 25 THESE ARE THE STANDARD TERMS OF THE PROMISE. 

IF YOU CHOOSE TO CONTINUE (with interviews 25>100) these are the terms of the funding....

For interviews 25+, here is the new form for submission: http://goo.gl/forms/GCszLSz8ct

  1.  your first experiment after completing the interviews will be funded up to $1,000 within 1 week of your 100th interview. Simply use this TRELLO BOARD to post the hypothesis you intend to test
  2. your second experiment will be funded up to $1,000 within 1 week of posting your results from the first experiment 

FINE PRINT

  1. #You must include a metric and a date in the trello board to be considered 
  2. #Your first experiment must test ONE METRIC ONLY. 
  3. # If there is a disagreement on the first experiment, the mentors all have an equal vote. If there is a disagreement on the second - n, the entrepreneur wins. 
  4. #A focus group is not an experiment. 
  5. #A survey is not an experiment. 
  6. # If a mentor asks a question you MUST answer it no matter what you think of it :) this applies to experiment #1 only 
  7. # No paperwork necessary for the first $1,000
  8. # For the second experiment and dollars $1,001-10,000 we will have you sign a simple one page agreement.
  9. # Equity is pro-rated / dollar for dollar based on a million dollar pre money valuation. 


FOR FUNDING CLICK HERE http://goo.gl/forms/MQ3FotmwAm

Post a Comment

Popular Posts