Have seen that crowdfunding is a challenge because you still have to pay lots of $$ to send traffic to the page to even be seen. Also, concept is an online service so not much to give as gifts for contributions.
You will be surprised to search out that, in fact, an MVP isn’t just unnecessary, it may also be hindering some when pitching investors.
First off, let’s see what the core difference is between pitching with an MVP, and without it, in terms of the expectations it sets for investors, and what it means for you.
When approaching investors, you ought to bear in mind that there are several risks they consider:
Team risk: Is your team competent enough to create and run the business?
Market risk: is that the market large enough or growing fast enough to be considered promising?
Timing risk: Is it the correct time to enter the market?
But there’s an excellent more important issue – product risk: are you able to convert your business idea into a product vision?
This includes the product’s ability to come up with revenue, to resonate with a particular audience, and its usability and value.
For you, there are two ways to eliminate product risk:
Sell the business idea and merchandise vision – demonstrate that you simply know exactly what you wish, a way to build it and the way it's visiting generates revenue.
Sell the results – demonstrate that your product works and is ready to get revenue.
Answered a year ago