Why do most startups fail?
First-time founders often lack the experience required to navigate the path to building successful businesses.
This causes them to skip steps or run into issues that experienced founders can avoid or overcome.
Many startups focus too much on building their product that they end up creating something that no one wants.
This causes them to spend a lot of time and money, only to realize the lack of demand afterward.
Many new ventures struggle from not having access to the right amount of capital at the right time.
This causes new startups to either not have enough funds to operate or overspend as they advance.
Many new founders either try to go at it alone or bring on the wrong initial set of team members.
This can cause the founder to get overwhelmed or slow progress due to poor team cohesion.
Many startups focus on growth without defining a business model that will be sustainable.
This causes them to be reliant on investors to continue operating, rather than becoming self-reliant.
Most founders only do business plans and pitch decks because it’s what they have been told they need to go out and raise money but the proper planning is an essential piece that most overlook.
But it doesn’t have to be this way!
Introducing… The Lights on Lab Startup as a Service Factory Platform
Maybe you were born to become an entrepreneur, or maybe you just came across a problem that needs solving.
Either way, you start with an idea but you still need validate your idea.
We created the factory to partner with founders who have great ideas but need a process and a plan to validate and launch their new ideas.
We fill in those gaps as needed to co-build and launch ideas!
With the initial idea vetted, now comes the search for traction. Just like in racing, when the “rubber meets the road”, it takes some time to achieve traction so that the car moves forward.
The next section of the factory works by taking the idea and running it through a series of processes to gain traction with capable people and capital behind them.
With traction achieved, it’s now time to grow the business.
We will now put in place a formal operations team, additional capital if needed and a growth plan for the team to execute with the goal of hitting a $5 million dollar valuation milestone by year 3.
“Before everything else, getting ready is the secret of success.”
– Henry Ford –
Founder to Fit
The majority of new startups fail because they build a product that no one wants. In addition, most new founders spend too much time and money to build these products only to fail when they can’t find enough customers to purchase them.
It doesn’t have to be this way. Start your company the right way!
The Founder to Fit program provides you with a proven process for achieving product market fit with access to the best coaches, advisors and mentors to help you through the early stages of this process to hit milestone #1 which is a validated idea and basic business model.
We also offer a done for you program where we will do the whole process for you for a fee.
This is for those who don’t have the time or just want to move on to phase 2 which is where the fun begins!
Phase 2 we have the goal of taking you from validated idea to $100k in revenue within 12 months, a minimum of 200 paying customers and at least 85% positive feedback on the core features of your product or service. We will help you assemble your team, plan, budget and create all of the business plan, pitch deck and go to market strategy documents so that you are ready to formally launch and or raise a round of funding.
Some ideas will work, some will pivot and some will just be scrapped so our mission is to help filter you through this process all the while filling in any gaps with any of the resources that are needed.
For this stage of the process we ask typically ask for equity in the form of Advisory shares plus a nominal fee.
To paraphrase Steve Jobs, “I’m always amazed how overnight successes take a helluva long time.”
– Verne Harnish –
Founder to Five
This is our flagship offering which is designed for those founders who don’t want to go play full time Entrepreneur but they have a great idea for a business that they want to see come to fruition.
Founders utilize this program because they want to be business owners and not business operators, just like those who purchase franchises aren’t always the ones who run the day to day operations.
This is also a great program for Investors who may be working with a young startup who just isn’t making it happen and needs formal help to kick things into gear while they work on training their founders to operate a company instead of launching one.
The bottom line is, we’ll go do it for you!
This is a true startup as a service program where we will go through our Founder to Fit processes including:
- We start with the basics of validating the idea
- Finding product market fit
- Branding, website development, app development, product development and design services
- Building a team of capable operators
- Raising Capital
- Testing and tweaking the business model as needed pre-launch
- Launching and then scaling the business with the goal of getting to a $5 million dollar valuation within 3 years
- We typically exit our ownership position at this point via an exit or an add on round of funding
- We can hand back over the reigns to the founders or we can keep the existing team in place
- Upon the founders request we can stay on board as formal advisors holding a board seat with voting rights. This will come with a commensurate salary and stock option package to be determined at that time
We take an equity stake of no less than 20% in the company to facilitate this process as well as a contracting fee.
Depending on how much the founders want to be involved will determine additional equity ownership.
Every Entrepreneur or Startup needs great mentors, coaches, consultants and advisors so these services are for those who need access to the best professionals to help them along their startup journey. Please inquire for fee options.
We have raised millions of dollars for many of our own projects as well as for other startups so we now offer a consulting service for those who need help with raising capital the right way. Be advised, this is not a performance based service so plan to have a budget of at least 3% of the amount you wish to raise for legal, marketing and staff to facilitate a proper raise.
The best thing that sets us apart from other startup programs is that we like to create custom solutions from scratch so if one of our programs or services doesn’t fit then we would love to build out a custom solution for you!
Contact The Lights on Lab