Rate My Startup

[Apane]

If you are not embarrassed by the first version of your product, you’ve launched too late. - Reid Hoffman, Founder, LinkedIn

We're getting ready to work on our version two of the product, with a new more fitting name/brand and domain and we've already got our new design underway. However, I'd like to gauge your feedback so we can implement it in version 2.

Version 1, www.fastvenues.com.

Idea: you're hungry and you don't know what to eat you visit fastvenues.com and see restaurants around you that offer set-menu, meal deals. By booking and pre-paying through fastvenues.com you get the deal. The main value is that you know you're hungry and these set-menu's are what we recommend, so you won't have to choose from a huge menu we recommend what's best.

Feedback, open to any feedback that we can apply to version 2.

Thanks!

[kjksf]

Sorry to be a naysayer but:

1. You're attacking a space where no-one is succeeding. I'm not sure if Yelp or Foursquare are profitable yet. Those are 2 leading companies in the space after years in the business.

2. You're attacking a space where scale/density of coverage matters. I'm in San Francisco, you seem to have only Ontario area.

What is your plan to get to the scale needed to make some business out of it?

3. You're attacking a space without a good business model. You can't charge users so you must charge restaurants but if Yelp can't make this work, how will you?

What is your business model? (if you think you can get restaurants to pay you for sending users or for advertising, you're wrong).

4. Overall you're not better than Yelp or Foursquare.

I use Yelp/Foursquare/Google Maps for exactly the purpose you describe as main selling point and they all have more data (reviews, photos, menus). More importantly, they're already installed on my phone.

5. You're not solving a big pain for the user.

That's why you can't charge people for use. Sure, I'll occasionally have the need to find a nearby restaurant in an area I don't very well, but it doesn't come up that often and I wouldn't do it if I had to pay.

[Apane]

3. Our business model is that you pre-pay for the recommended meal to get the deal.

5. Right now we're solving something that neither Yelp nor Foursquare solves and that's the Paradox of choice. With them you can see what restaurants are around you, and read some reviews but you still don't know what to eat there. It might get you in the door but you're still taking a shot in the dark. With us, we only create a few set-menu meal deals that you can choose from that are rated best, by local foodies. So you're essentially browsing what's around you by top rated meal, instead of restaurant.

[Apane]

But very good feedback none the less.

[sfeather]

If I'm hungry, I get food. I don't open up an app or visit a website. This isn't a mortgage level decision, or a 6 month car insurance coverage decision. This is a NOW decision.

How are you different from 4square, or google maps (suggestions near you) other than the 'deals'?

[Apane]

Very good feedback, but do you ever think "I'm tired of the same old places, what else is there around me that's good?, and affordable to try". Looking to solve that problem.

[sfeather]

So what determines 'good'? Reviews (internal, your staff)? Reviews (external, public entry)? Department of Health scores (ok, this might actually be a viable app idea)?

I've visited restaurants with 5 star reviews, and hated the food and the service. I'v visited dives (according to others) and met amazing owners, ate great food, and it felt like I was part of the family. (thats here in the States and also abroad)

There is a risk to life, the risk of 'choosing a bad place' is part of life. IF the idea is to find something different and new, our family does this when on the road...

When we determine we are hungry, we get off at the next exit or town. The rules: 1. we eat at the first restaurant we come to that hasnt been veto'd 2. all vehicle occupants have 1 veto per meal 3. I get a final and unchangeable veto purely on health and safety.

Process offers pretty much what you elevator pitch offers, but without the deals. To me, that means, you need to up the value add someplace.

[Apane]

We're different in that we want to ONLY show you the recommended items from each place, so you don't spend time going through the menu, you basically get a snapshot of what we recommend at each restaurant near you. Why do we recommend it? We have professional "foodies" who literally travel to try and review restaurants that make these recommendations then we put them up at a deal for you to try it.

[sfeather]

So, stop at this restaurant, get the grilled cheese, get out? Ok, foodies, thats a big value add.

[Apane]

Good point. Need another layer of value to justify thinking of using an app like this when hungry.