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Lean startup: I have a good idea for a business, but don't have the funds to start, what should I do?
HV
HV
Humberto Valle Texas Real Estate Investor, Wholesaler, & Airbnb Superhost, Get Advice On Growing Your Real Estate Business answered:

Hello Henry Lee!
I really like the Lee Von's feedback, when it comes to launching a startup business you have to have to realize a simple yet difficult fact about your idea:
Is it truly a business or a standalone product or tool?

Sometimes, entrepreneurs get their process all scrambled and end up overwhelmed with the apparent process because of it instead of realizing that what they have is just a product.
When you have a product, you may find it difficult to get people to join and work in the hopes that something will pan out - but when you have a strong viable business and marketing plan in place for how you will turn an idea into a series of solutions for consumers through the product/features you are thinking of - well then thats a business.
If you have a product 9 times out of 10, it will be best to wait and save and spend your own money to hire someone to help you achieve it because you will need to own the product to leverage it with an existing company who can add the product or tool or feature to their existing offering possibly buying you out or helping with further development. (that's actually how Microsoft got started, through licensing 1 product)

When you don't have any money you need to leverage the work and time yourself. You can try learning how to code yourself, look for partners through Angel.co, Startup Weekends (there might be one coming up near you), Reaching out to individuals through twitter, quora, linkedin, etc.

There are also a lot of small hybrid agencies now who are becoming more flexible with their payment structure - take a look at www.BetaBulls.com for example, they are known for their large capabilities (almost 100 engineers on board), and their flexibility with startups taking minimum payments, creating MVPs and offering their lean methodologies while working on monthly payments. Other agencies like ours, www.Unthink.me - offers single dedicated programmers if there is an availability versus hiring a team.

You should also consider tools, like Balsamiq.com who allow you to create simple mockups of your idea so that you can enter contests or present to angel investors - again - you're putting a lot of that work time upfront but it's your idea after all and if you aren't willing to put that up yourself - then you can't expect others to do so either.

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