The incubator team idea

[jon.a]

As I mentioned in another thread I've had this "what if" idea for some time and since I opened my big mouth in the other thread here we go.

The idea is simple in concept. We could, if the members choose to, build teams and create live case studies. We have the talent to create real businesses.

The purpose of this thread is to gauge interest and to gather ideas for form and structure.

I think that it's obvious to most everyone here that we have a wealth of talent within the membership. Probably even more than many realize. Of course, some forum members are already partnering up in "backroom deals" and probably have been for quite a while, but what about us normaler members that haven't reached the level necessary to get invited to the adult table.

Well, incubator teams might help with that problem. NO, I am not proposing hobby like involvement, I'm thinking real projects that create real businesses making real money.

I'm envisioning...

Forming a legal entity an LLC or LP.

Led by a project manager
Advised by a mentor
With members having the requisite skill sets selected by the PM and Mentor or voted upon by members already selected.

This thread's purpose is only to share ideas.
If I can pull together a team, I would want to create the progress thread "inside" probably in the "speedway"

I was asked to link back to the OP but I don't know how to so if someone smarter that me would help by doing that, thanks in advance.

So, here we are, let the rocks, bull$hit flags, or whatever start flying...

jon

Oh yeah the other thread

 

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[FastNAwesome]

Sounds very interesting. I'd probably gladly take a part if there was a part for me there.

 

[mayana]

This sounds like something I'd love to watch as a spectator... I'm more of a business "loner"... lol.

I can't wait to see if you can pull something like this together!

 

[jon.a]

I can't wait to see if you can pull something like this together!

If I can't I probably don't belong here.

 

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[nerdyworm]

If it's a SaaS app that has a real business need then I'd love to build it. I could probably swing 6-8 months of dedicated time to this before I go homeless.

 

[jon.a]

Maybe I did a poor job of explaining my idea.

I don't have a project to pitch.

I started this thread to gauge interest in forming incubation teams in general.

My own strengths might be in funding and project management as an example.

As a group we could amass several individual teams each building their own unrelated businesses.

The team members would be the only ones to profit financially from their project.

The community would profit from watching their processes.

 

[Vigilante]

Jon... I don't have any time to contribute to this today. Maybe down the road at some point but you may not need me by that point. I think it is a solid concept though. Resourced properly it could be impactful!

 

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[jon.a]

Well, you kinda challenged me to step up with it

Besides, I have an eCommerce idea that you couldn't refuse.

Jon... I don't have any time to contribute to this today. Maybe down the road at some point but you may not need me by that point. I think it is a solid concept though. Resourced properly it could be impactful!

 

[nerdyworm]

Maybe I did a poor job of explaining my idea.

I don't have a project to pitch.

You explained it quite well.

Perhaps my comment was poor.

Let me rephrase: I would be interested in participating. If there is a need for a software engineer, then please consider me.

 

[mayana]

You explained it quite well.

Perhaps my comment was poor.

Let me rephrase: I would be interested in participating. If there is a need for a software engineer, then please consider me.

This is exactly what I thought would happen... a lot of action-oriented people willing to use their powers under the direction of a visionary leader C'mon - I know the idea-man is out there

Edit: or woman.

 

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[Mike39]

a lot of action-oriented people willing to use their powers under the direction of a visionary leader

Kind of like...... employees

 

[jon.a]

OP LLC or LP, kinda like... partners

Kind of like...... employees

 

[DeletedUser2]

clock it ticking.....

when will it launch?

date?

 

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[jon.a]

It's just an idea.
I might not even be the first one to implement the idea.
It might not even be a good idea. I think it's brilliant, but I'm biased.

It might not even happen if not enough players are interested.

Let's try this...
What types of businesses could be built?

eCommerce
apps
membership sites

What else?

clock it ticking.....

when will it launch?

date?

 

[BUFFALOBT]

Count me in this is exactly the kind of collaboration(big word) I need!

 

[xxcloud9ninjaxx]

I'm not exactly a tried and true veteran of this forum but this thread is an idea I kind of had swimming in my mind for a little bit. I'm glad someone went into action and made it because I'm also working on like 3 projects on my end of the internet.

If I don't get selected for the team I'd at least like to see how this turns out. For the people that are actually excited about this, the first question has pretty much been asked: What is the purpose of the collaboration? Obviously to make money by solving a problem since we're all here right?

We had a software engineer volunteer services, nerdyworm how many engineers usually work on a small - medium sized project in your field? Does anyone else have any experience with marketing or programming software? If you want to participate you should say what you can contribute. Me, I'm currently in charge of 3 projects and I enjoy the work and trial it takes to bring an idea to life. I'm still in start up phase and still having ups and downs but I've learned a whole lot from it, and since I've set my life goals pretty high by anyone's standards I feel like I have the drive and motivation to organize and work on a number of things at a time. I've got several ideas involving web or phone apps, but like I said, I'm in start up from a sidewalk life so my resources are limited and the people I can work with for free don't have the skills needed yet. But if people here want to start a project I'll be down to see it all the way through and put in everything I can to make it work.

 

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[dknise]

Jon, have you joined a local incubator in your area? You can learn a lot from these and may even find co-founders for a business. I met my current roommate through an incubator and met a lot of local entrepreneurs through it.

Having seen this attempted in person many many many times, here are the problems they all run into:
1) You're entrepreneurs, nobody likes being told what to do, everyone's passionate, and everyone wants their input heard.
2) Not all team contributions are equal. Because all three of the example businesses were software related, and from the consensus of this forum that outsourcing is the way to go, for equal contribution there would need to be an equal investment of time and money into it. That equality is almost impossible to achieve as some people think dedicating 40 hours a week is pure dedication, and others think 90 hours is.
3) Be wary of "the idea guy." In every group someone is going to get called out for not doing much and their response will be "but I'm the idea guy."

From the majority of successful businesses I've seen, they have either been co-founders who compliment eachother's strengths and weaknesses or lone entrepreneurs who have full visionary control of their project. Three co-founders has often been used because of the 2-1 vote, but many of those drop down to 2 co-founders for kicking out the "idea guy."


Goodluck! and if you guys form it, keep us posted on how it goes.

 

[SportsFan438]

Did this go anywhere?

 

[jon.a]

Did this go anywhere?

nope, not yet

 

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[Late Bloomer]

I'll continue to read forward in chronological order and find out what else happened for you with the forum. I joined a small group, some from this forum and some not, with weekly conference calls and midweek brief emails for mutual brainstorming and accountability, although each on our own projects. I'd be very interested if there is any revised version of your idea here, Jon.

 

[jon.a]

I'll continue to read forward in chronological order and find out what else happened for you with the forum. I joined a small group, some from this forum and some not, with weekly conference calls and midweek brief emails for mutual brainstorming and accountability, although each on our own projects. I'd be very interested if there is any revised version of your idea here, Jon.

It died a quiet death. Since then my wife and I took over running a small family real estate empire and have been super busy.

 

[Scot]

I think I posted a thread similar to this about a year ago and the idea was also briefly talked about in the mastermind I’m in.

It seems simple...

The forum is full of bright minds, motivated people. What if you took the motivated software dev, the cunning copywriter, the badass digital marketer and a great business leader. Put those together and you’d create a powerhouse company... right?

I think the reason this never took off is because, we’re all here because of MJ’s book. And it attracted a very specific type of person, someone who wants to build their own future.

People on this forum aren’t the same as people who subscribe to Silicon Valley Startup structure, they don’t see being part of a team as a benefit. They’re self reliant, self sufficient and most importantly, want to be in the drivers seat.

 

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[Andy Black]

Interesting thread.

People in here form loosely coupled groups all the time where money may or may not exchange hands for services provided.

Little masterminds form out of those, whether they’re called masterminds or not.

I’d guess more of these form where people are all peers and encouraging each other, rather than providing separate and complimentary skills to form a whole greater than the sum of the parts?

For teams that form, people get a chance to work together on little projects, and maybe the occasional companies get founded from these initial collaborations.

...

In my case, I’ve found freelancers from this forum and we’ve formed our own loosely coupled team. There’s been no joint company formed - we’re all still separate legal entities.

Who’s in the team? A freelance developer, a freelance graphic designer, and me, a freelance media buyer.

We all bring in and work on our own projects, and we collaborate and split the revenue on projects I bring in.

You could view it as me paying freelancers to be part of my team, but I view it as me creating a team where a rising tide lifts all boats.

If I’m to keep them close to me and working with me then I have to communicate a vision they want to be part of, and show us moving relentlessly towards it.

We’re by-passing the Agency phase and have our eyes on Productised Services and Platforms.

We’re our own mastermind.

We don’t bother with “accountability”. I think if you need accountability then you haven’t found a strong enough Why yet.

...

For those in here who want to form teams or work with/for other people the do your due diligence and trust but verify.

There’s always going to be instances of people misleading others, unintentionally or worse.

As often mentioned, the forum and MJ are not responsible.

...

A litmus test for me is whether someone pays or not, and how timely they do so.

I try to pay the day I get the invoice.

As Blaise Brosnan once told a group of business owners: “Be very careful when someone tells you how great you are and all the great things you can do together. You’re being set up.”

I’ve found this to be true.

...

Other thoughts when finding the right people to work with:

“The first purchase is a test.” (Both ways!)

“The person who’ll run with the ball is the person who catches it.” (Keeness beats technical skills.)

“How you do anything is how you do everything.”

...

On working with people:

Find out what their goals are. Create alignment and win-wins.

Care about your team members and have their best interest at heart. Same as you do customers actually.

“Catch them when they’re good.” (A good technique for encouraging the behavior you want in small kids by the way.)

“Criticise in private. Praise in public.” (Not that I criticise anyone in my team. We encourage each other to do the best we can.). “Yes, but” isn’t allowed.


/braindump