Preparing kids to become startup founders by having them do pitch contests is like preparing kids to become pilots by having them run around the room with their arms stuck out, making whooshing noises.
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The idea comes last. The way you actually prepare is by learning how to build things.
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Pitch contests are not merely useless, but actively misleading, because they train people that the audience they have to convince is investors, when actually it's customers.
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I've had to tell a lot of founders not to care so much about investors' opinion of them. I have never once told a founder not to care so much about customers' opinion of them.
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How to simulate customers in kid context without hindering creativity? Shall we let them start building things but from time to time put some constraints?
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Knowing why you’re doing what you’re doing and doing it for the right reasons is as important as what you do.
End of conversation
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Probably getting a summer job in sales is better ROI.
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Pitch contests are great for kids who'd like to become actors, or standup comedians. Not so much for entrepreneurship.
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There's quite a big difference between "selling a startup idea" (to investors) and "selling a product/service" (to customers) though. Similar process, but a different trade - and both need to be learned. Pitch contests can help with the former.
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I think getting comfortable speaking in front of others under pressure is a good skill none the less. A pitch competition is just a way to keep it interesting and relevant to something that could excite a kid.
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this is also why I’ve always hated little-kid lemonade stands — while they purport to teach some business or life lesson, no one is buying because of the product; it’s all just about being cute or inspiring pity, though I guess those are useful traits in their own right
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I think it depends on the size of startup & age of founders. They can use pitch competitions to raise funds without diluting capital. Gives them exposure, visibility, connections, mentorship, networking, opens door to Incubators/accelerators..Spend 10-15% time. Rest on customers.
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