I have an app idea 💡

iynna's profile thumbnail
I'd ask myself: is the app solving a problem that is big enough? Have I received market validation (ie. why am I building this,for whom, and what does the market think of it)?I'd work very very very hard on product market fit before anything (and even building any sort of fancy version)And I certainly would not seek out investors
KQ's profile thumbnail
Yes, thank you. Not seek investors?
iynna's profile thumbnail
nope!
If you attempt to seek out investors now, these are the first questions they'll ask you. If you don't have at least some idea of how to answer these questions, you might make a negative first impression.Honestly though if you have a huge network of VC connections, it's not the worst thing in the world to burn 5 connections. If you talk to the right VCs, they'll give you VERY specific feedback about stuff they'd want to see, so you can use that as a guideline for what to do next to validate your idea and get to product-market fit. Just don't expect them to necessarily want to ever meet with you again.Basically, if you know 200 VCs, burning 5 is okay. If you only know 5, maybe only burn 1 first?
stephaniecn's profile thumbnail
Build an MVP and test/validate your idea. See if ppl need it and/or would pay for it.
iynna's profile thumbnail
period.
I would say in the first stage, without any designs or wireframes at all, talk to the people around you and ask them questions like around whether they would find value in your app idea, can your app do better than what a user’s current apps, would they pay for it, etc. Once you get some idea there, I’d start brainstorming and creating wireframes, and even prototypes. Then show them to your friends and family and people around you and get feedback. This is the fastest, cheapest, easiest way to get some initial understanding of whether your idea is viable. I also wouldn’t approach investors without any initial validation. Often times you would easily get turned down, and you would have made a negative first impression. Unless you have extremely close friends who are in the venture space who you can ask for their 2 cents, I would def refrain from doing so. And Ofcourse throughout the whole time, do your research to understand if the problem your app is solving is a real problem, and whether your app can solve the problem(s) in a scalable way, how big the problem is, etc.
annabudny's profile thumbnail
I recommend taking a deep dive into the problem space that your app is solving for. I highly suggest starting with a competitive analysis. You want to make sure you are solving the right problem first for the space you’re in. Ensure that your first few features of your MVP are tightly tied to a user need specific to the target group within that space. Then validate, as others have mentioned, repeatedly and iterate from there. Creating a prototype is a good way for others to visualize your idea (even lo-fi) and when you tell the story to others, keep bringing it back to how it helps users in a better way than your competitors.
amandajude's profile thumbnail
Hello! Exciting to find a new passion project, congratulations! I’ve been a Product leader for over a decade and I mentor women in the space. Happy to set up an exploratory call to talk through your ideas and perhaps give advice/direction. I also second what everyone says - ask the world if the problem is as you believe it is and if it wants your solution. This can generally be accomplished in small, effective, affordable (even cheap and free) ways.
ashahaji's profile thumbnail
Agree with all of the above! Doing a deep competitive analysis and lots of customer development calls even before doing wireframes is key. I’d set aside a small budget to pay for subscriptions to competitors’ products and keep track of your findings in an organised way (perhaps in Notion or Evernote). I’d use a tool like Loom to record your experiences and comment about features you like, don’t like or have questions about. Also, if you happen to think you don’t have competitors, then it means you haven’t looked hard enough yet and should keep researching.To help with having structured and informative customer conversations and to put your business model to the test, I’d also check out the following books: The Mom Test by Rob Fitzpatrick, Lean Customer Development by Cindy Alvarez and Testing Business Ideas by David Bland. All three of these books will give you the tools and processes for properly validating your idea and confirming if it’s worth pursuing as a serious venture.Don’t be afraid of your idea evolving significantly as you get feedback. That just means you’re getting closer to understanding what’s desirable by customers, technically feasible to build, and commercially viable as a business.Good luck and have fun!
sarahw's profile thumbnail
I like the book (hate the name) The Mom Test for these very early stage ideas.