Myself and 2 partners operate and work in varying roles within the Digital Marketing space. We work both on-site and remotely for small and large companies, we have what we think to be a strong, in-demand idea for a online platform. We are currently stuck on our next steps and looking for guidance. We have been told we need to create an MVP which will require us to either invest own funds in developer groups to create (none of us are talented in the developer to create), seek out a developer founder or establish proof of concept another way. We strongly wish to move our efforts from Melbourne, Australia to USA and we feel the standard of Incubator and Accelerator programs are much higher. We are looking for guidance on the next steps associated with applying for these incubators (we have done a lot of research on each of them specifically, the majority request a MVP/beta version with a couple of customers and tests already occurring). What are best to do to reach this stage?
I'm just going to come out and say it. I don't like either of these two guys' responses. You cannot build a Minimal Viable Product without The Real MVP: the Most Valuable Problem. This is the problem that is so painful your target customers will PAY YOU to solve it.
95% of your startup business can be started, tested and figured out before a software developer is involved.
For example, a woman comes on Shark Tank to pitch her chocolate pretzel business. She's gotten her products into stores like Neiman Marcus, Nordstrom, and Saks. She now has a HUGE order to fill for the holiday season but she doesn't have the capital to fulfill the order. So she raises money from the investors to pay for manufacturing because the business is there. She's proven it.
It's possible to do the same with building a software product, too! You can get investors to pay for the development work because your success/business is all but guaranteed.
Another example: My client is not technical at all. She has a serviced based business hosting events for like-minded singles in LA & NYC. She's going on 4 years. Now, she wants to build something scalable so she decides she needs an app...but she's not sure of all the features. Through our work together, in 3 months time, I had her prototyping the business assumptions of her new venture using only her Squarespace site...no developers needed.
I'd be happy to talk to you here or you can schedule a call on my website. Best, xx
Answered 6 years ago
Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.
Already a member? Sign in