So I'm a 19 year old college student with a website and app idea that I believe can thrive in today's society. I've contacted multiple developers but they are all so expensive. I have no where near the capital to build what I want to build. I've considered learning how to code but with having a job and focusing on school it's kind of been hard. I have read that some start ups have presented a business plan to investors and acquired some funding. Would this be the ideal way to go? Also, how would I go about building a team? It's only me right now, but I feel like I would need some guidance by someone that has had experience in this. So how do you guys think I should go about this?
All of these answers are important, but before doing any of that, first consider validating your idea. That means getting customer feedback outside of your circle of family and friends. Funding can certainly speed things up but it also means you lose some control over the vision, the pace and the deliverables. The sooner you get funding the more likely it is going to cost a higher portion of your equity. I'd consider going as far as you can without funding first, if it's possible.
Bottom line is that you shouldn't go far into building your product, and certainly shouldn't spend more than a few dollars before having some solid customer validation on the concept.
Depending on yur location there may be some grants available for early stage validatioin of your concept without having to give up too much control or ownership.
My Startup is just about to launch our flagship product on the Google Playstore and so far we have not pursued investment. We are all (including the programmer) working for equity (part ownership).
Answered 10 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