Loading...
Answers
MenuI have very little business knowledge but I have found a gap in the market, how would I find a trustworthy business partner with industry knowledge?
I am a student in the last year of university but would hope to get the application up and running by the time I finish university.
Answers
I thought I would send a response based on my experience in international trade, manufacturing, importing and sale of products based on niche markets and gaps in the market.
It would depend on a couple of things...
Are you going to make something?
Outsourcing to a country that has the experience in the foundation of the idea e.g. you want to make a certain type of teak wooden chair with legs that rock and a drink holder with an mp3 player in the arm rest.
Is it a technology or service idea you need help with the actual information needed?
Research with similar companies and competitors on the internet... nationally and internationally
Is it a brand new idea? or has it been done before?
If it a brand new idea then you could research similar industries and get information on their sources. You would then look for similar supplier companies you can test to your specifications and needs.
If it has been done before, then research on competitors in your local, national and international product markets.
Hope the above helps you in the right direction. I would be happy to discuss this in more detail or if you have any other questions you may have.
Nicholas Lord
As it appears you are looking to build an app, the first question is: Are you technically proficient to build it? If so, build it first, without seeking a business partner.
If you believe you need specific industry knowledge relating to your app, I *guarantee* that you will find people willing to help provide their insights in exchange for a coffee or a beer. If you feel you need more of their time, you can consider offering them an advisory role (typically compensated in shares).
If you need someone to build your app, start making friends with the Computer Science students. I wouldn't focus on pitching hard, instead develop some real friendships where from time-to-time, you talk about app ideas. You might find that your idea is still the best, or find another idea that you are both really excited about.
Other than a technical partner, there is no other partner you require at this moment.
I'd be happy to talk to you about how to present your idea to potential technical partners and advisers and share some tips on how to recruit great advisers to your team.
Hate to answer a question with a question but...
How do you identify a gap if you don't have industry knowledge?
Related Questions
-
Any opinions on raising money on Indiegogo for an app?
Apps are difficult to fund on IndieGoGo as few are successful, and we rarely take them on as clients. Websites like http://appsfunder.com/ are made for that very reason, but again, difficult to build enough of a following willing to pay top dollar for an app that could very well be free, already existing in the marketplace. A site that is gaining more traction you may want to look into would be http://appsplit.com/. Again, Appsplit Is Crowdfunding For Apps specifically.RM
-
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
-
Where can I find programmers willing to join a growing mobile start up for equity only?
You won't find anyone worth adding to your team willing to work for equity only, no matter how compelling your product and business is. The realities of the talent market for mobile developers anywhere is such that a developer would be foolish to work only for equity unless they are a cofounder and have double digit equity. Happy to talk about hiring and alternatives to full-time hires.TW
-
iOS App: Beta vs Launch Quietly?
I would suggest launching in a foreign app store only (ex: Canada). That will allow you to get more organic users to continue iterating without a big push. I got this idea from Matt Brezina (Founder of Sincerely, previously Xobni) https://clarity.fm/brezina - he's the man when it comes to testing & iterating mobile apps.DM
-
Pre-seed / seed funding for a community app... valuation and how much to take from investors?
To answer your questions: 1) Mobile companies at your stage usually raise angel funding at a valuation equivalent of $5,000,000 for US based companies and $4,000,000 to $4,500,000 for Canadian companies. 2) The valuation is a function of how much you raise against that valuation. For instance, selling $50,000 at $5,000,000 means you are selling debt that will convert into shares equal to roughly 1% of your company. 3) I would encourage you to check out my other answers that I've recently written that talk in detail about what to raise and when to raise. Given that you've now launched and your launch is "quiet", most seed investors are going to want to see substantial traction before investing. It's best for you to raise this money on a convertible note instead of actually selling equity, especially if you are intending on raising $50,000 - $100,000. Happy to schedule a call with you to provide more specifics and encourage you to read through the answers I've provided re fundraising advice to early-stage companies as well.TW
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.