Question

What we will do if we make a company

Answer 1

Explanation:

• It would be a software company with it’s own IP. Here is a 10 step process to identify, fund, and develop your great idea. This is what has worked for me and we have the best inventory management software in my space. BTW I don’t code and didn’t study computer science.

• pick an area you know a lot about - it could be a hobby, work (best), or a topic like food

• Ask yourself how it could be improved? Think of the current experience, the quality, price, and speed of delivery.

• create a concept around what if … and refine it by asking yourself “so what?”. Identify the problem you are solving. This is the hardest part become a learning junkie, become an expert in your concept - read and attend conferences.

• Commit the idea to paper, draw out the process , the logic and even some screens.

• get a customer or interested parties - this is the most fun. Start by asking prospective customers what if…. Also make the deal a no pay until it works and they would be a reference when it does.

• Design a prototype or MVP stands for minimum viable product

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• hire a consultant from one of the gig sites or a high school student. Chances of them stealing your idea is low - you are the expert, you have the customer, and it’s their reputation. Develop your prototype and offer a few hundred dollars to start. Eventually this will cost you several thousand dollars if not more.
• get back to your customers for feedback

• repeat 7 and 8

• get it delivered within 90 days - customers have low attention spans

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Owning a program, app, or product whatever you call it - gives you an asset. While there is upfront cost and time, software is very scaleable and the cost of delivery is very low. Early in my career out of school I won a $1 million RFP with this process - the company a large government entity went to tender because of my idea.I have all the respect for consultants but ultimately you’re limited by your own two hands and how much time you can sell.Starting a software company is not the easiest but I believe like a book - everyone has a great app in them.

Hope this helps.