3 ms·

Bear in mind that far more people will tell you its a good idea than will buy it (usually) so adjust any projections accordingly. If the time to code the proto

by RobAley 14y ago

Bear in mind that far more people will tell you its a good idea than will buy it (usually) so adjust any projections accordingly. If the time to code the prototype yourself, or the money to outsource the coding, is too much of a risk to take in your personal circumstances, consider finding a technical co-founder to work with to do it. You'll have to give up part of your potential gains, but remember that 50% of something is (usually) better than 100% of nothing. Edit: also remember that the longer you leave it to do something, the more chance someone else will come along with a similar idea and steal your thunder. Though that may be useful for someone else to test your market for you..!

helen842000 14y ago
Totally! I pretty much ignored the first couple of people that voluntarily said they'd like to try it out. I thought "I'll come back to you when it's time to put your money out there" After more and more people say the same thing, it gets hard to ignore. I've never had that before with other projects! I've realised if I do it myself or if I save up & outsource it then it will take the same time. The outsourced one would probably be more effective and I could use my time on building a list. Yet part of me is stuck on at least building a part of it! There is already a big player in this market but they offer a much more complicated solution & miss out on a tool that I think is fundamental. So mine is more aimed at small teams. The competition out there already has tested the market which is good! I calculated that 1% of their sales is like $4mm per year and I don't expect anything near that. It just proves that the market is big. As good as it would be, I don't understand why a technical co-founder would work on my idea. Though having expertise on the team would bring me technically up to speed so I could pull my weight. I don't even think I'd deserve 50% in that scenario as they'd have to be the lead. I wouldn't mind if someone came in with a similar idea, so long as it got built properly. First to build it owns the idea, I don't have anything yet.
- wpietri 14y ago
  Your last couple of paragraphs really bother me. I see a lot of very smart people talking the same way. Ask yourself if this rings any bells: http://en.wikipedia.org/wiki/Impostor_Syndrome http://en.wikipedia.org/wiki/Impostor_Syndrome The reason a technical co-founder would work on your idea is that you have a great idea, solid feedback, and the drive to figure out what that idea really means. Plus the skills necessary to deal with all the mushy, human side of product development, producing a clean stream of things to build. The last time I started something, my co-founder did all of that, plus all the fundraising. I got a lot less than 50%, and thought it was a fair deal. As the founder and visionary, you should avoid giving up more than 49% for as long as possible, hopefully ever, because then you give up control. At startup events I see plenty of arrogant idiots who have done no more than you (and often less) looking for co-founders and investment. Your natural humility is an asset when it comes to building products, because it means you will listen to your users and serve them well. But in the realm of entrepreneurship, it will hurt you, because you will reflexively defer to people who act more confident. This is your idea. Nobody will ever love it as much as you. Take it and run. As hard as you can. It may work and it may not, but don't let it be because you didn't believe in yourself.
  - helen842000 14y ago
    That's very kind of you to say. I appreciate it. I like to be super-realistic, which may come across as lack of self belief. I'm happy to celebrate my successes, however with this project - I'm keenly aware that little has been achieved yet. From my point of view, I would be reluctant to join someone elses idea, so I presume there's a limited number of people that would be willing to take that kind of risk. I do feel that I have a lot to bring to the table in a partnership,in lots of areas, including technical thinking & ability. Right now what's needed is everything I don't have and I'm respectful of that. A few months & a self built prototype down the line it would be a much more equal partnership. I've been to those events and I'd hate to ever be pigeon-holed as someone who wants someone else to do the work for them based on little proof. They are often oblivious to the learning, planning, effort that goes into building something. I only know because I've tried and will continue to try. I've been careful to outline what I've done so far, as I welcome the advice given by the HN community. I agree that instead of being quietly confident I should push myself forward more.

by RobAley 14y ago

helen842000 14y ago

Totally! I pretty much ignored the first couple of people that voluntarily said they'd like to try it out. I thought "I'll come back to you when it's time to put your money out there" After more and more people say the same thing, it gets hard to ignore. I've never had that before with other projects! I've realised if I do it myself or if I save up & outsource it then it will take the same time. The outsourced one would probably be more effective and I could use my time on building a list. Yet part of me is stuck on at least building a part of it! There is already a big player in this market but they offer a much more complicated solution & miss out on a tool that I think is fundamental. So mine is more aimed at small teams. The competition out there already has tested the market which is good! I calculated that 1% of their sales is like $4mm per year and I don't expect anything near that. It just proves that the market is big. As good as it would be, I don't understand why a technical co-founder would work on my idea. Though having expertise on the team would bring me technically up to speed so I could pull my weight. I don't even think I'd deserve 50% in that scenario as they'd have to be the lead. I wouldn't mind if someone came in with a similar idea, so long as it got built properly. First to build it owns the idea, I don't have anything yet.

wpietri 14y ago
Your last couple of paragraphs really bother me. I see a lot of very smart people talking the same way. Ask yourself if this rings any bells: http://en.wikipedia.org/wiki/Impostor_Syndrome http://en.wikipedia.org/wiki/Impostor_Syndrome The reason a technical co-founder would work on your idea is that you have a great idea, solid feedback, and the drive to figure out what that idea really means. Plus the skills necessary to deal with all the mushy, human side of product development, producing a clean stream of things to build. The last time I started something, my co-founder did all of that, plus all the fundraising. I got a lot less than 50%, and thought it was a fair deal. As the founder and visionary, you should avoid giving up more than 49% for as long as possible, hopefully ever, because then you give up control. At startup events I see plenty of arrogant idiots who have done no more than you (and often less) looking for co-founders and investment. Your natural humility is an asset when it comes to building products, because it means you will listen to your users and serve them well. But in the realm of entrepreneurship, it will hurt you, because you will reflexively defer to people who act more confident. This is your idea. Nobody will ever love it as much as you. Take it and run. As hard as you can. It may work and it may not, but don't let it be because you didn't believe in yourself.
- helen842000 14y ago
  That's very kind of you to say. I appreciate it. I like to be super-realistic, which may come across as lack of self belief. I'm happy to celebrate my successes, however with this project - I'm keenly aware that little has been achieved yet. From my point of view, I would be reluctant to join someone elses idea, so I presume there's a limited number of people that would be willing to take that kind of risk. I do feel that I have a lot to bring to the table in a partnership,in lots of areas, including technical thinking & ability. Right now what's needed is everything I don't have and I'm respectful of that. A few months & a self built prototype down the line it would be a much more equal partnership. I've been to those events and I'd hate to ever be pigeon-holed as someone who wants someone else to do the work for them based on little proof. They are often oblivious to the learning, planning, effort that goes into building something. I only know because I've tried and will continue to try. I've been careful to outline what I've done so far, as I welcome the advice given by the HN community. I agree that instead of being quietly confident I should push myself forward more.