I have a multi million dollar idea

Applied to a similar venture capital group yesterday. The problem with this is that they usually want proven traction, tough in this case, will keep it in mind though, thank you
 
DrewChan said:
I guess without knowing what I am doing its tough to comprehend my inability to allow a competitor to even sniff this.

In order to be successful I need a marketing plan that would grow my base to 100k+ in a day, preferably 1 million plus. Having that sort of traction in the market would allow for leverage where a competitor might try buy me out or associate with my rather than just implement and leave me in the dust.

Without my hook the app becomes literally worthless and the hook can be replicated in an hour.

The hook is fairly ingenious though
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Go to a marketing house and offer them a share of the profits as a retainer or go to venture capitalists. You won't get 100k in one day, that's highly unlikely unless you have something that will do something miraculous. You need solid advice from a professional which does cost.

I have a friend who teamed up with a few other guys and came up with an amazing app but none of them were marketers and they were arrogant about it and it failed due to lack of marketshare.
I also know someone who dev'd a great app and worked his butt off and made millions from it.


Best of luck with your project, would like to hear about it once launched.
 
DrewChan said:
While I appreciate the psychological assessment you are not quite right. Yes I am petrified of failure, but I am a risk taker at heart. I have taken multiple risks with my work where I could have ended up jobless but I recently landed a job in an amazing company.

The one thing you don't do when you have a game changing idea is "just run with it and see what happens". You research your ass off in as short a time as possible, ask for advice wherever you can for help and give your idea its best chance. I believe both your your posts are based off the belief that this idea is a pipe dream and doomed for failure.

While it may be, I am going to treat it like it's the best idea in the world and if it fails, it'll fail with a crap load of work behind it
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Then just chill, do the work and make it happen, you aren't flying to Mars. Everything is a pipe dream until it hits market and gains meaningful traction, even reaching that point doesn't guarantee anything.

Running with it and seeing what happens doesn't preclude due diligence or hard work, it does accept that you can't read the future and you accept what comes, learning more as you go. Most importantly you enjoy the process with out driving yourself crazy with worry and losing sight of reality.

However you may take my advice, good luck and I hope it skyrockets on release.
 
DrewChan said:
I guess without knowing what I am doing its tough to comprehend my inability to allow a competitor to even sniff this.
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If it relies this much on secrecy then your idea isn't as good as you think it is.

DrewChan said:
In order to be successful I need a marketing plan that would grow my base to 100k+ in a day, preferably 1 million plus. Having that sort of traction in the market would allow for leverage where a competitor might try buy me out or associate with my rather than just implement and leave me in the dust.
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Very few channels will give you a million sets of eyes in a day. Traction is another thing all together and most apps don't' see traction after several iterations after initial release.... hang on... "grow my base" - are you expecting to get 1mil users in one day? :erm:

The only example of this I can think of was the fart app that coincided with xmas and the release of a new iPhone.

DrewChan said:
Without my hook the app becomes literally worthless and the hook can be replicated in an hour.
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Well, there we have it now. This idea is a lot weaker than what you think it is.
 
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SlinkyMike said:
If it relies this much on secrecy then your idea isn't as good as you think it is.
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Maybe, I will think about this point... why I need secrecy... I will try think of ways to improve all aspects of my app so that this becomes less of an issue.


SlinkyMike said:
Very few channels will give you a million sets of eyes in a day. Traction is another thing all together and most apps don't' see traction after several iterations after initial release.... hang on... "grow my base" - are you expecting to get 1mil users in one day? :erm:
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This is not unheard of, and I didn't say its an easy goal. Also your comments are not helpful critiquing but filled with sarcasm. This decreases my ability to take any of your advice seriously.

SlinkyMike said:
The only example of this I can think of was the fart app that coincided with xmas and the release of a new iPhone.
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There are millions of examples of viral explosions. Maybe not with apps but who says there isn't a way.



SlinkyMike said:
Well, there we have it now. This idea is a lot weaker than what you think it is.
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The word hook was perhaps erroneous, the app has a solid foundation of originality. That originality is its hook. Any idea can be copied very quickly be a team of developers - especially one with largish players.

Overall although I will take what you said into account, even though your tone sucks.
 
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Best of luck Drewchan. I hope it works out for. Please send a few SA Rands this way when you are rolling in it. :whistle:
 
Can't you patent it or trademark your app before a competitor sweeps it up? If you don't need to be secret about it you can start on it and then pick up funding for it later

There will always be people that try to copy something great, the best thing you can try to do is be the first and the frontman of the app - there are a lot of people that invented things only later for people to bring out a better version of the product to outdo the creators
 
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STS said:
Can't you patent it or trademark your app before a competitor sweeps it up? If you don't need to be secret about it you can start on it and then pick up funding for it later
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I wish. You can't really copyright an idea. Specific code and an apps identity yeah but all a competitor needs to do is implement it a little differently.
 
So far you have told us about your unique app. Do you know how your are going to monetise it? Was part of a startup 15 years ago that could have revolutionised the game of golf. Was way ahead of it's time and it failed because we didnt know how to monetise.

If your app has global appeal then maybe launch it at TechCrunch Disrupt. There you will have a huge audience as well as access to some intl VCs.

Either way once you have launched it; market the $h1T out of it. In the end it is not all about the app itself. 'Build it and they will come' rarely works. It is the marketing and getting traction in the target audience that determines the success.

Think Snapchat. Their initial USP was being able to send dick pics and have it auto delete

and good luck with it...
 
Spacerat said:
So far you have told us about your unique app. Do you know how your are going to monetise it? Was part of a startup 15 years ago that could have revolutionised the game of golf. Was way ahead of it's time and it failed because we didnt know how to monetise.

If your app has global appeal then maybe launch it at TechCrunch Disrupt. There you will have a huge audience as well as access to some intl VCs.

Either way once you have launched it; market the $h1T out of it. In the end it is not all about the app itself. 'Build it and they will come' rarely works. It is the marketing and getting traction in the target audience that determines the success.

Think Snapchat. Their initial USP was being able to send dick pics and have it auto delete

and good luck with it...
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Listen to this man. Biggest mistake I made was believing the build it and then will come approach that doesn't work, what does work is spending 10x what your competitors are spending on marketing.
 
DrewChan said:
Maybe, I will think about this point... why I need secrecy... I will try think of ways to improve all aspects of my app so that this becomes less of an issue.
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You are holding too high a stake in originality. There are other aspects of product design that in isolation outweigh the importance of a novel idea. Combine those things and you quickly see that ideas are practically nothing.

DrewChan said:
This is not unheard of, and I didn't say its an easy goal. Also your comments are not helpful critiquing but filled with sarcasm. This decreases my ability to take any of your advice seriously.

There are millions of examples of viral explosions. Maybe not with apps but who says there isn't a way.
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It is damn near unheard of. You're not getting a million users in a day. Start planning according to realistic numbers. VCs are not going to take any idea that requires a million subs in a day to protect its originality seriously.

Virality, ridiculous numbers, secrecy... It seems pretty clear (from what vague information there is) that your app has gimmick written all over it. You should look for a product with a long tail, not a 24 hour tail.

DrewChan said:
The word hook was perhaps erroneous, the app has a solid foundation of originality. That originality is its hook. Any idea can be copied very quickly be a team of developers - especially one with largish players.

Overall although I will take what you said into account, even though your tone sucks.
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You said it yourself: without the gimmick, the app itself is useless and cloned within an hour. The gimmick is pragmatically nothing and over once your big secret is out. After that, all that's left (now remember this is after 24 hours have passed) is this "literally worthless" app.

In essence then you are betting the farm on a gimmick strong enough to garner one million users in a day where-after you have 0 plans to add value for those users.

I won't apologise for my tone, I'm not typically too concerned about peoples feelings but I will tell you that I think your passion and enthusiasm can take you very far, I just hope that you'll find something meaningful to create to focus those energies on.
 
SlinkyMike said:
You said it yourself: without the gimmick
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Where did I say I had a gimmick?

Gimmick "a trick or device intended to attract attention, publicity, or trade." In no way is the app just to attract attention.

SlinkyMike said:
In essence then you are betting the farm on a gimmick
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Same as above

SlinkyMike said:
I won't apologise for my tone, I'm not typically too concerned about peoples feelings but I will tell you that I think your passion and enthusiasm can take you very far
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I never asked you to, the fact of the matter is that you are basing an assumption on no data and the sparse details I have given. You being convinced in your opinion so greatly when you have no idea about the project is more absurd than anything I have stated thus far.

SlinkyMike said:
where-after you have 0 plans to add value for those users.
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Again... where are you pulling this from. It's almost like you bought into an idea at some point and got burnt horribly. Either that or you're just negative and cynical.

Either way, you have given me one or two things to think about and I thank you for that :p
 
SlinkyMike said:
Good. That's all I was trying to achieve. I'm honestly not trying to upset you or be a douche.
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Thanks man, it's fine I appreciate negativity - it makes me critically look at what I am doing. You have made me doubt one or two things which is awesome, being able to change things trying to extinguish those doubts strengthens the app.

I admit there is a chance everything you say is correct and I am a naive fool, I still wanna learn from the process and be as positive and motivated as possible.
 
God dammit Drew the suspense is killing me!

When are you launching?
 
Thor187 said:
God dammit Drew the suspense is killing me!

When are you launching?
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ASAP - I have been pointed to a smart engineer for a big company in the states, if he says it sucks, I'll re-evaluate.

Dev should be done in a week or so.

During that time I am going to do further investigation into marketing - do some testing and hopefully release within a month
 
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