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MenuHow do I build a prototype and team with a small budget?
My product is a new way to produce energy. The system is ecofriendly, unlimited, and hasn't been done yet.
How do I form a great team, and find funders?
How do I prevent my idea from being stolen?
I am at México city.
Answers
Just get started. I have been using this site with great success. https://www.freelancer.com/affiliates/bgriffey
I am working multiple ventures at the moment and the resources available on this site are tremendous. Very affordable high quality work. You can have an instant team of professionals.
I concur with the other poster. A 3D printed mockup is a great place to start.
I would not worry about your idea being stolen at this stage. Investors are going to be more concerned that the idea was someone else. For that sake seek patent pending when feasible.
The most critical thing is to get outing the market to validate the product. That is what business is really about.
I advise and mentor Startups in San Francisco Bay Area, and some of them, like you, are in the hardware sector, including Robotics and Computer peripherals.
With prototypes, I would say there are two kinds - representative (a miniature model) and functional (actually performs the task).
If all you want is the representative kind, there are 3D printer services - I googled for Mexico City and found some fairly easily. You would have to see if they are in your budget.
http://www.makexyz.com/printer/rockit-print
It is difficult to talk about functional prototypes without more knowledge of the product. Let me know if you'd like to get on a call.
This 3D printing option would give you a starter kit to take to investors - there are some great investors in the Bay Area that could incubate and grow Non-US startups. Would traveling to the US be an option?
More than happy to discuss further, this is a very admirable field you have chosen. Good luck!
First, you're going to want to patent the system of creating the energy, as long as you're sure it doesn't exist already. While the patent is pending, you should create a business plan that goes into detail about how you're going to create the energy (you can use the patent application as part of your business plan), and how you're going to monetize, or sell it.
You can also go in depth about how much money you're seeking and what you're going to need it for; this is important for investors. Investors will also look at the potential size of your business and the capability of your team; how diverse their backgrounds are and how much they bring to the table.
I'd love to hop on a call with you to further discuss the formation of your team and any other questions you may have. Good luck! :)
Related Questions
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How important is a polished/pretty prototype to pitch an idea to potential customers and/or investors? I'm using this as a means to support my pitch.
It depends how clear your idea value is without it, or with a rough one, or mock ups vs polished. There are a few goals you are trying to conquer with a prototype, overall its about concept clarity and valuation. 1. customer/investor acceptance: "i want that" 2. customer feedback: "you should change that" 3. investor valuation: "wow, you are that far along" vs "its just an idea" Without more details only you know what it will take to get the right clarity to the customer and investors to answers on above.BS
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May I apply the term "lean" if I adapt lean startup concepts & apply them outside entrepreneurship w/o infringing on any legal protections of "lean"?
Ries owns 'Lean Startup' trademark. I doubt 'lean' by itself is trademark-able, and isn't claimed by Eric. Someone else may claim 'lean career development,' so might be worth a trademark search.BE
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What tools to use for mobile Prototyping ?
My 2 favourite are: - www.uxpin.com - www.flinto.com Flinto is by far my favorite for mobile. I also us www.balsamiq.com for anything wireframe. Sometimes I jump into Sketch http://www.bohemiancoding.com/sketch/ for more high fidelity mockups using their Mirror feature http://www.bohemiancoding.com/sketch/mirror/ Hope that helps. P.S. There's a tonne of Mobile UX experts on Clarity, many $1/min - call them, you'll learn so much. my2cents.DM
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How do I grow from a one man startup when I don't have the money to hire & don't have skills or time for investors?
Stop thinking you don't have the skills to do something. You can learn anything if you decide to, but assuming up front that you can't (forever) is dangerous. my2centsDM
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Launching a startup with no job and no savings. Should I get a job or find investors?
Wow, lots of questions here. Let me try to hit them in order: "Should I get a job or find investors?" IF you have access to enough investor capital (not debt and not your savings) and you can get to MVP and still maintain ownership of a sizable majority of the business then do it. IF that means debt financing then only use the debt lines the cost of which can be carried by returns generated by the use of funds. I would prefer to offer a convertible note to prospective investors that can be easily extended throughout both friends and family and seed rounds (up to $2M to $3M) to get to proof in the market. If you can get to revenue and earnings fast enough then you can avoid equity dilution all together. IF you cannot secure that find of funding AND you cannot produce enough revenue from your business to deliver sufficient earnings for you to live on, then by all means, you should find a way to make the money you need and not burn all your savings or mortgage your home If that means short term contract work that's great. Particularly if you can find log term work that is relevant to the business you're building. If that means taking a job then do that. IF you do that, then yes, be transparent with your employer and let them know you're working on your own business also. Hope this helps....SL
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