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10 Comments

Where to even start

So the question I have is “Where do even begin?!” You (I) have the concept for a viable product and I want to quickly turn that idea into a very low cost working prototype, show it to investors and try to convince them to invest money to make it happen. Where do you even begin?

on October 4, 2020
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    This commuinity is pretty good at giving feedback. If I were you, I would share my idea here and open it up to constructive criticism. Let people chime in with their experience -- you never know what comes of it.

    After that, the test is to see if anyone is interested. Put up a landing page with an email box and see how many people you can get excited and sign up.

    1. 1

      Thanks very much that is helpful information. I will share some more info.

  2. 2
    • Create some sort of MVP to validate your idea, it doesn't need to be beautiful, and doesn't need to be a codes app/webapp,
    • Get some feedback from your users of that MVP product (you these feedback to sell the idea to your investors, most probably your users from your MVP will notice something you never saw)
    • Talk to users, and try to specify what your potential group of users are (this could help you to your pitch for your investors too)
    1. 1

      Thanks for response. Very helpful advice

  3. 1

    From my experience, the best way to begin is with a project that is extremely simple, and can be made in a small amount of time. It doesn't have to use all your ideas, but just a small portion of them.

    Once you have that working, then you can start adding to it, and as you do, you can see if any of the new functionality could be altered for the better.

    1. 1

      Thanks very much for the advice

  4. 1

    Here's what I'd do if you want to bootstrap:

    1. Define an audience you truly want to serve (it's even better if you already have a connection with them)
    2. Observe that audience and the way they talk about their profession and especially problems / struggles they run into in places where they hang out online (e.g. Forums, Reddit, ...). Take notes
    3. Participate in the community. Provide value (DON'T BE SPAMMY)
    4. Identify patterns (i.e. do they complain about the same thing over- and over again?)
    5. Ensure that those problems are "Top 3 Problems" (things that "keep them up at night")
    6. Brainstorm solutions for those problems
    7. Validate that there's demand for your solutions via market research (if there's competition that's a good sign)
    8. Reach out to your potential customers and pre-sell your solution (get them into a private beta of early adopters)
    9. Use that money as a validation of your idea and a financing method if you're not a developer
    10. Build the product closely together with your beta users
    11. Launch to the public

    Let me know if you have any questions around specifics...

    1. 1

      Thank you for taking the time to respond. I’ll provide bit more detail in another post

  5. 1

    It might be a hard truth...

    There's no golden rule but focus on building your company and stay away from celebrating the idea stage might be a good direction.

    I hear a lot of hypotheses like this, nothing wrong tho. But you gotta grow! Because of that, I made VenturesList to answer questions like this.

    Currently investing seed stage companies alongside a micro venture, previously accelerator. Happy to assist :) @Gregsy

    1. 1

      Really like the look of what you have created there. Well done and thanks for sharing it will be a very useful resource. I’m not into celebrating the idea trying to find a realistic way to take the idea forward to next stage