Questions

How do you determine if you are crazy or your idea is actually a good one to pursue further?

As of Jan2015, I created Zealr, my startup. The idea stems from my experience selling enterprise software into household name accounts. I have been solo working with a team in India to determine if my idea is possible. I am at the point where a cofounder is needed in order to make real progress. Unfortunately, I am not getting anywhere with finding anybody and there is not enough time in the day to get things done. Capital is needed to develop a prototype, a beta project and etc... but, I am not able to get a team. Maybe the problem that I am solving is not attractive? Not a reality? Not feasible?

5answers

What type of user / market validation have you done?

Before starting to spend real money executing on any idea, I like to do a lot of user surveys to get a full picture of my user profile. If I don't have at least 200 indivudual respondents, I don't consider it enough data (so I keep calling, emailing, walking up to people on the street, whatever works.)

What you need to know is:

Who is my customer?
What are their pain points?
How can I solve one of them?

That's the key - you only need to solve one, but you do need to solve it. And you need to have a defined customer, or else, who are you selling to?

Once you are clear on these things, you'll be better able to attract a co-founder to the project, because you'll be able to describe the thing you're building together. If you're muddled about any of this, it shows, and people don't want to join up with a project that they sense isn't going anywhere.


Answered 5 years ago

@heather This has been done and well documented. Again, I am not an entrepreneur trying to be an entrepreneur. It solves a real problem that stemmed from me and others in the software selling (but applicable) in other selling environments. Regardless, I am not certain this is a forum will be effective to get any results. Getting the full picture is needed in order to get real value. My bad for asking.


Answered 5 years ago

I launched a SaaS product that was born out my own need to produce automated reports from the Freshbooks accounting system. I justified the development cost by calculating how much time the app would save me each month.

I then got to the point where I had to decide whether to invest in making it available to others, essentially to try and sell it as a service. When I couldn't find anybody willing to pay for the service, I decided to give up on selling it to others and simply keep it for my own use.

Some questions you can ask yourself -

1 - Do you have any paying customers, even 3-5?

2 - Do you have anyone who has committed to paying when you're ready?

3 - Have you seen anyone express a need for the problem you're solving in related online forums?

4 - Are you passionate about the problem you're solving?

If I were in your situation and couldn't answer #4 and any one of #'s 1-3 with a resounding YES!, I'd seriously consider dropping this one and moving to the next project (I know, easier said than done!). It doesn't sound like you lack opportunities or ideas!

Hope that's helpful and I'd be happy to continue the discussion with you on a call.

Good luck!

Chris


Answered 5 years ago

If you think the product is very much worth the buyers' time, then maybe you can line up a few customers who are willing to front the money for the effort. Maybe get 5 or 6 customers to each pay 30% or 40% of what the final product would cost.

They're happy to get the solution inexpensively. You're happy to get more than your development costs.

So long as you can deliver what you promise.


Answered 5 years ago

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