Questions

What are my options for raising money for a directory App that's 100% free.

The Directory connects people in need with the service(s) that can help. This is a For-profit business.

8answers

Before you ask money you will need to build something quick and dirty (MVP) and try to get few users to see if your idea can fly. Truth to be told that it’s going to be near to impossible to get funding unless your idea is

A. High-Impact for global change where nonprofits like Chan Zuckerberg Initiative or Gates Foundation can fund it.

B. The data you collect is so valuable that you can sell the data to make money.

C. You can get ridiculous amount of traffic to generate ads revenue.

In all the cases you still will need to build something while keeping things bootstrapped. I highly recommend you to build a desktop/web directory app vs native app to test your idea.

Use open source technology like WordPress. Google “best wordpress directory theme” and you will find something suitable for your need.

Here are some helpful reads
https://brainhub.eu/blog/build-app-non-technical-person
https://listingprowp.com/tips/why-99-percent-of-startup-ideas-fail


Answered 2 months ago

Start with why? see Simon Sinek Golden Circle about this.

Why do people need a directory app in this day and age? what inflection has happened in the market place for the time to be NOW? new technology, new culture, new laws?

What unique insight do you believe to be true about the market that others do not believe? What have you observed in the behaviours of your target audience that others have not capitalised upon?

Answer these questions convincingly, and show that a relevant sample of people care enough to spend $x - and that is your pitch


Answered 2 months ago

A difficult topic for you, but the only thing I can convey from your experience is that you are building and improving your business through customers, I have a couple of services that I can resell to you, and I think that in your office you can schedule a call with me and in inbox provide me with all the details about make your application and your business have a detailed plan for you I don't think I'll need more than 1 hour


Answered 2 months ago

Based on my experience of raising capital and investing myself - If it is truly a for-profit business, you must have a business model already, which means if it is 100% free for (I assume) users, it must be sponsor-based (ads, sponsorships, etc). In order to raise money effectively & quickly, you need to show proof the business model is working. The more you show, the quicker you can raise. It's really important that you also show runway and (conservative) growth projections so investors can see how their money will impact your growth.

Totally open for a call if you have other questions.


Answered 2 months ago

I consider to start hunting niche directory listing website. I need recommendation on my plan.
I plan to:
1. Create website with up to date requirements of these days internet (mobile support, good seo practice, site speed, design etc.)
2. Manual add listings for the start (thinking of 10-15 listing of each categories) and then contact their owners to inform that their website/service is listed. Maybe ask for website link exchange and start conversation about paid listing in the future…
3. Write relevant content on blog to generate traffic and discussion.
4. Start paid listing service.
5. Social media stuff…
and call me if yo need help i am there for you


Answered 2 months ago

Without more information on the app, this is difficult to answer. Is it similar to ask Aunt Bertha? Do you make referrals? There are plenty who've done something similar in different verticals. Directory services for those in the housing insecurity space with work with government agencies for contracts, compete for infrastructural funds, or charge a nominal fee to service organizations they refer to. Keep in mind, inclusive businesses can receive grants and other funding from foundations. To do this, you'd have to be clear on the impact narrative and how your value ties in with the foundations. And there's always impact investing circles, accelerators and investors.


Answered 2 months ago

when you say 'raising money' do you mean from investors or from the users (in which case you mean your business model)?
If you're referring to your business model, then here are some common options: advertising, affiliate programs/leads, up-selling of related products or services, etc.
If you meant raising money from investors, then it is very important to them to see a clear business model which can realistically generate profits. Many startups think: I'll get tens/hundreds of thousands of users and then I'll be bought out by a big company. This is rarely the case unless you have millions of users. So, you either need to show investors that you have a clear, realistic business model, or that you have a lot of users, that the number is growing, and that the users are recurring users (there are other stats, but these are the main ones).
If you give me more details I'd be happy to give you more specific advice.
Good luck
I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david


Answered 2 months ago

Assuming this is a relatively new venture, your options are friends and family, a corporate partner, or an accelerator / incubator program. In light of the current financial environment affected by COVID-19, they all present challenges. I would be happy to expand on the merits and obstacles of each option, but I would require additional details of exactly where you are at in the development of the app and the business. If you are truly helping people during a difficult time, perhaps you have an opportunity to attract resources.


Answered 2 months ago

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