You’re thinking about crowdfunding as a way to bring your idea to life and get your business off the ground, and wondering who can help you. This is a good place start! I don’t have any particular axe to grind, and no services to sell, so I can bring you an unbiased and hopefully informative viewpoint.
This article details my experience with InventureX. As you’ll see, things did not go well. However, there is at least some reason to believe that the problems I experienced were due to startup issues, and that my situation simply “fell through the cracks”. I hope that is the case! However, for the time being I am leaving this page up so that others can be on the lookout. Read on to get the details of my experience and/or read the companion article to this one for advice you can use:
Crowdfunding Guidelines, InventureX, and the Competition.
The general outline for a business plan (whether written or not) that explains why the company will succeed.
Parts of the business plan, and the models used to generate them.
Investment decisions are based on interlocking variations of the induction hypothesis. This model determines when sensible investors will invest, and when they won’t. Understanding that model tells you what you need to do to get investors to decide in your favor.
Who you can sell to. Having selected your target audience in general terms, the next step is to define the specific needs of that market, and the value proposition that will motivate a purchase. You create a general picture of potential buyers, how much of a market they represent, how much it costs to penetrate that market, and the shape of the adoption curve.
Why entrepreneurs tend to succeed on their third venture.
This paper presents a way of visualizing the important aspects of a business. These are the bases you need to cover to get one started. The fundamental three legs of the tripod: Technology, Marketing, and Finance. Roofing the pyramid: Organization. Pinpointing the foundation: The organization’s Purpose, or mission.
This principle applies as much to software design, as it does to every other kind of startup, and to keeping a business running, in general.
The end result of many years’ operation should be a big deal! The plans that show “how you get there from here” are the growth models for the different legs of the tetrahedron.