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Rather than build your idea, which you say requires a lot of money, prove that people want to pay for it. You CAN do this without building the idea. This will
by _JC_Denton 7y ago
Rather than build your idea, which you say requires a lot of money, prove that people want to pay for it. You CAN do this without building the idea.
This will force you to get out there, actually talk to potential customers, and sell it. This is one of the hard parts of executing on an idea.
I know one entrepreneur in your boat who recently cold outbounded with a PowerPoint and some design mockups, and managed to get a number of LOIs signed from buyers in his target market. That proved to investors that 1) people wanted it, and 2) he could sell it. He raised a non-trivial sum from a known VC firm.
- JSeymourATL 7y agoTHIS is the answer -- WHO is this for? What does it do? Are they amenable to funding/building the prototype? THAT's the guy you're looking for.
- badrabbit 7y agoYou have a really good advice, I think I need to work on my salesmanship or find a cofounder. Actually collecting stats sounds nice, maybe a video clip of actual in person consumer interview might help too. Answering the market demand question is where I struggle. Many of my idea are not proprietary so anyone can pay someone more experienced to knock me off which worries me. Thank you!