Apptrepreneur™: The Startup Gap
For the very first installment of Incubate This!, we decided it is important to lay the ground work for everything that is to follow. That is, to answer the question: Why is this relevant? What is Apptrepreneur™ and why do we think it's important?
The reason why is that there is a gap that exists. This gap exists because there are misunderstandings, misconceptions, and myths surrounding technology and building a startup business that lead to many avoidable, preventable, and unnecessary consequences.
Perhaps the biggest myth in the world of building a startup is that when a person says to themselves "I have an app idea!", they immediately think the next thing they need is funding. In fact, before an angel investor or venture capital fund or any investor will get interested in giving you money, you have a TON more work to do!
Have you ever seen an episode of Shark Tank? There's a kind of formula that exists in nearly every pitch they present on the show, and it goes like this:
Ideator presents their idea and any relevant data about competition and differentiation in the marketplace
Sharks say, "Ok, let's see the thing"
Sharks ask, "How much have you sold so far?"
Did you catch that? Right after they hear the idea, they want to SEE A THING. Translation: Before an investor will ever invest in your idea, they need to see: a) the thing CAN be built, whether as a prototype or proof-of-concept or MVP; and b) that YOU are the person who can get that thing built.
You see, lots of people have really fantastic ideas everyday. We at Raika Technologies and GotAnAppIdea.com get pitched as many as 40-50 times every week, and lots of the ideas we hear absolutely could be great businesses that make the ideator a good living.
But investors don't invest in ideas. They invest in TEAMS. Teams that have a track record of getting things done; of executing; of turning ideas into real things that can be seen, held, bought and used.
So in fact, the gap that exists between "I have an idea!" and "I need funding" is ENORMOUS. And the purpose of Incubate This! and GotAnAppIdea.com is to dispel the myths, educate potential entrepreneurs about the realities of building a startup, and then help those who are ready to execute do just that. This week we are exploring the gap with help from our client and friend William Loopesko, CEO of PuppTech. Watch for our podcast and video posts on our discussion with William about building a new startup and what it really takes to get to success.
Think you have what it takes? Visit us at GotAnAppIdea.com and get into the Apptrepreneur™ Startup Program today!
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