Because you mentioned MVP, Im assuming that your current business is a service company, not a technology/product company. If that's the case, then you would definitely need to build out an MVP of the product and ideally show customers using the product as is. The major issue of a service compan...
If you and this person, *know* they won't be the CTO, then absolutely not. If there's an understanding that the engineer you are working with is going to "cap out" soon beyond the MVP, why would you ruin your cap table? This *should* help you get a reasonable amount of equity. http://foundrs.c...
Depends on your objective. If you really just want to know whether the idea is viable, you'll get the most bang for your buck by keeping things email-capture-only or putting up a "smoke test" where you have a Buy Now button that redirects to a "it's not available yet; but leave your email if you...
You seem to have a broad market focus. Narrow down your initial most suceptible group & early adopters. Once you have a target market, you can develop a series of objectives measures in days and social platforms for your 1 or 2 initial target markets. Once you have a series of objectives(goals) y...
-- Prototype -- I would add that you can create prototypes more simply by just using static images and adding interactive elements to them. I recently discovered MarvelApp (https://marvelapp.com) and you can create mobile + web prototypes for free with them. I would recommend hiring a designer to...
Likely you won't like my thoughts about this. When I give talks about business bootstrapping, I suggest people only work ideas which meet my "Sunset Rule". Sunset Rule - You should be able to go from idea to first sale, before sunset, or best consider other ideas. This also relates to your MVP...
Hi: Sounds like you have a compelling idea, but I’m wondering about the validation work you’ve done? Have you talked to people in the market segment you’re targeting and confirmed that there’s a gap that needs filling? Confirmed that current alternatives aren’t doing the job to their satisfactio...
I would do another test run to confirm that it wasn't a one-time lucky streak that you hit. These numbers are definitely relevant to investors as they want to know the conversion rates. You should calculate your Customer Acquisition costs as this number will be important to investors. However, lo...
You always want to mitigate risk, for you and for investors, or partners. One of the easiest ways is creating fake landing pages of your product idea. You then run ads, fb or Google, and see if people 'convert'. Convert can be giving their email, clicking a button like buy now, faking all the way...
It really depends on what your product is, but ultimately you want to learn about their experience using your product (what obstacles they've come up against, what features they use most/get the most value out of, things they don't understand, etc). You can also calculate an early NPS (net promo...