Got a solid idea - how to implement?

Cisco / EngzGcY85
Nov 25, 2018 15 Comments

Don’t have the coding skills to build it myself. Had a soft pitch convo with some VCs and they said “sounds fantastic. How much do you think you need to get it off the ground?” I was like “uhhhh I didn’t think I’d make it this far I thought I’d get torn apart on questions.” They were like “nah actually don’t have any that was pretty thorough.”

I have hand sketches and a mental roadmap of exactly what I want to do but to be clear there’s a fuck ton of data to compile and enter on top of the coding to build out the mobile / desktop apps + website.

Should I just start with a full 30+ page business plan? Prototype it somehow? Hire a freelancer to build the MVP? I need front end, back end, database, researchers to gather info to put into the database, there’s a lot of work and I don’t know where to start.

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TOP 15 Comments
  • Google bupkis2
    Sounds like the first step is to find a business partner who knows how to bootstrap a project from scratch. Ideas are a dime a dozen. Execution is everything.
    Nov 25, 20180
  • Samsung bcdn07
    Be goal oriented...first major goal should be to earn that 1st $ of revenue. So working backwards from that
    1. Need a paying customer
    2. Need to convince customer of value of product
    3. Need a MVP that demonstrates sufficient value prop
    4. Need to build MVP
    5. Need to spec MVP
    6. Etc...
    Nov 25, 20183
    • Microsoft andy2653
      Actually many of today's popular apps did not have a solid revenue plan in mind when they launched. Just create a popular product, revenue will come after that mindset worked as well.
      Nov 25, 2018
    • Square Loud
      Monetize first = shit product. Startups 101 my friend.
      Nov 25, 2018
    • Cisco / EngzGcY85
      OP
      Part of the conversation with the VCs was whether I needed VC funding vs angel investing. They said generally, 99% of people seeking VC funding actually only need an Angel investor. VC funding is for when you don’t expect to make money for the first year or two or three or five as you grow. Which is what I expect. User base and experience will be the primary initial focus along with culling a shitload of data.
      Nov 25, 2018
  • New CiOI38
    I've never known a VC to say "no questions, that's thorough". Their job is to be very skeptical - poke holes (for them to learn AND for you to learn). Unless we're talking "VC == angel investor" and in the low $100k's from a distributed fund.

    But to your point - prototype. If you(r team) can't build it, nothing else matters. Prototype without code, or with as little code as possible.
    Jan 291
    • Cisco / ProjectJuan Tutri
      I’d imagine if this had been a full pitch meeting they’d have had a lot more questions. This was more of a pre-pitch “hey am I even on the right track with this” conversation. That being said, I covered the short term and long term goals and possibilities, target market, current competitors, similar products, multiple monetization options, and a few other things.
      Jan 29
  • Microsoft *cW2x91p
    dev > all
    Nov 25, 20180
  • Amazon thealpha
    I can help you.. ask your VC to give $2M... I’ll quit amzn & take 800K cash for year1 and some share as my TC :D
    But you’ll make it big :D
    Rest of the money will go for infra... and to contractors for mundane part of the project... and may be some to you 😂
    Nov 25, 20180
  • Microsoft Ink8i
    Did the VCs ask if you’d keep a full time job while working on it? Curious how they felt about that
    Nov 25, 20180
  • New / Other
    Call Me.

    NewOther

    BIO
    Turned my beeper on.
    Call Me.more
    VC = Parents?
    Nov 25, 20180
  • Google / Engkaza
    Can't those vcs send you a tech cofounder?
    Nov 25, 20180
  • OpenDoor ajardoor
    Learn the skills you need to build a prototype yourself. You will learn way more about the problem you are aiming to solve and will be at least competent enough to evaluate a technical co-founder if that's your plan.
    Nov 25, 20180
  • Facebook tAXF40
    PM me the idea! I have some free cycles to code it up for you
    Nov 25, 20180
  • Amazon / Eng
    DaaamDoood

    AmazonEng

    PRE
    GitHub
    DaaamDooodmore
    Partially agree. What matters more for raising funds seems to be active users and the growth rate, but this is true only very very early on in the game.

    To survive beyond say 2 years, without any revenue and without any plans for revenue, you’d need to be massively popular (think Twitter). It’s a far more saner approach to start with revenue as your mindset.
    Nov 25, 20180

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