App Nearly Complete - But What Next?

mlocmcgash

Hi,

I'm a long time member/browser but a newbie (enough) poster and I'm looking to harness the vast experience (and good will) on here, if possible


I came up with an idea a few months ago now for some software (smart device app) that could be used by a specific industry to potentially change the way that industry carries out (an element of) its work (sorry for the vagueness, hope you appreciate why!!).

My brother got on board with me very quickly both in terms of functional input/ideas and on the technical side of things also (he is a web developer, I have 8+ years experience in IT also, but am in the management side of things now and don't have tech experience in the relevant technologies). He has now completed the build for an initial version of the app (web app, not native app). He is also talking to a web designer friend of his to see can we make it look professional before we move forward (currently it's just functionally working but fairly ugly/messy looking).

Our costs (not taking into account time investment) to date have been <€30 (i.e. just registered a domain name for 2 years) and yet we have a product with all the key functionality ready for trial - which I think is a very good position to be in - however, we're both a bit clueless on what to do next!!!!


The below are some of the things floating around my head:

1. We don't have a business name/aren't a registered company

• Before pushing this out to certain business in the industry do we need to have these in place?
• I assume there are accounting/tax obligations once these are in place - but we don't expect to be making any money in the short term - do we have options here?
• Facebook wasn't a business initially (though I definately don't have the next FB), do you just turn it into one (i.e.do the above, and more) when you want to start making money?

2. We haven't patented the idea (but are pretty sure it doesn't exist currently - in Ireland anyway)

• I've heard/read you can't patent a software programme, is this the case?
• Software is easier to duplicate than actual physical products (so it would be easier for someone to 'steal' the idea) so does a patent (if possible at least) give SOME level of protection for us?
• Any other way to stop the idea being implemented by someone else (with more money/backing)?

3. We haven't engaged with any enterprise board (yet)

• Is this a must/should do for anyone starting out with a new business/business idea?
• Do they have specific industry knowledge (i.e. will they give useful input into our specific product) or are they just experts in general business?
• Do you need to have anything ready before going to them or is what we have enough (i.e. a product ready for consumption and ideas around how it will be of benefit)?

4. Is approaching venture capitalists/investors a viable option at this (early) stage?

• Does anyone have any experience with these?
• Do they only invest in certain types of opportunity?
• Do they expect you've completed market research yourself and bring that to the table or do they have the contacts/knowledge to take the idea at its infancy and see the potential?

5. The app requires gathering and storing personal information from customers in the industry (e.g. age range, maybe even pictures)

• Do we (legally) need to provide specific terms and conditions to customers to ensure we're allowed to capture and store this information?
• What if we want to share this information with other customers (that is, allow them see the information instead of actively sending/sharing the information) as opposed to just storing it and using it ourselves - is there a further legal concern/further T&Cs to be considered?
• What about storing this data - considerations here (apart from technical security ones)?

6. Cost Model

• How do you come up with one of these, or who would be best to advise?
• I'm thinking allow the app be used for free for first year (but advise that there will be a cost in second year, for example) then if/when people on board, start charging per month/year (with the premise that it's part of their way of working now so they won't want to stop using it).
• Once we can build a native app we can charge for download of the app also/instead, but that would require investment which we can't provide currently.
• There's a possibility of whitelabelling here too - anyone any experience with that and how you go about approaching a company (and idelly not have them implement the idea themselves)?

Any input you could give into any of the above would be very much appreciated


Thanks a lot in advance.

anbrutog

mlocmcgash wrote: »

Hi,

I'm a long time member/browser but a newbie (enough) poster and I'm looking to harness the vast experience (and good will) on here, if possible


I came up with an idea a few months ago now for some software (smart device app) that could be used by a specific industry to potentially change the way that industry carries out (an element of) its work (sorry for the vagueness, hope you appreciate why!!).

My brother got on board with me very quickly both in terms of functional input/ideas and on the technical side of things also (he is a web developer, I have 8+ years experience in IT also, but am in the management side of things now and don't have tech experience in the relevant technologies). He has now completed the build for an initial version of the app (web app, not native app). He is also talking to a web designer friend of his to see can we make it look professional before we move forward (currently it's just functionally working but fairly ugly/messy looking).

Our costs (not taking into account time investment) to date have been <€30 (i.e. just registered a domain name for 2 years) and yet we have a product with all the key functionality ready for trial - which I think is a very good position to be in - however, we're both a bit clueless on what to do next!!!!


The below are some of the things floating around my head:

1. We don't have a business name/aren't a registered company

• Before pushing this out to certain business in the industry do we need to have these in place?
• I assume there are accounting/tax obligations once these are in place - but we don't expect to be making any money in the short term - do we have options here?
• Facebook wasn't a business initially (though I definately don't have the next FB), do you just turn it into one (i.e.do the above, and more) when you want to start making money?

2. We haven't patented the idea (but are pretty sure it doesn't exist currently - in Ireland anyway)

• I've heard/read you can't patent a software programme, is this the case?
• Software is easier to duplicate than actual physical products (so it would be easier for someone to 'steal' the idea) so does a patent (if possible at least) give SOME level of protection for us?
• Any other way to stop the idea being implemented by someone else (with more money/backing)?

3. We haven't engaged with any enterprise board (yet)

• Is this a must/should do for anyone starting out with a new business/business idea?
• Do they have specific industry knowledge (i.e. will they give useful input into our specific product) or are they just experts in general business?
• Do you need to have anything ready before going to them or is what we have enough (i.e. a product ready for consumption and ideas around how it will be of benefit)?

4. Is approaching venture capitalists/investors a viable option at this (early) stage?

• Does anyone have any experience with these?
• Do they only invest in certain types of opportunity?
• Do they expect you've completed market research yourself and bring that to the table or do they have the contacts/knowledge to take the idea at its infancy and see the potential?

5. The app requires gathering and storing personal information from customers in the industry (e.g. age range, maybe even pictures)

• Do we (legally) need to provide specific terms and conditions to customers to ensure we're allowed to capture and store this information?
• What if we want to share this information with other customers (that is, allow them see the information instead of actively sending/sharing the information) as opposed to just storing it and using it ourselves - is there a further legal concern/further T&Cs to be considered?
• What about storing this data - considerations here (apart from technical security ones)?

6. Cost Model

• How do you come up with one of these, or who would be best to advise?
• I'm thinking allow the app be used for free for first year (but advise that there will be a cost in second year, for example) then if/when people on board, start charging per month/year (with the premise that it's part of their way of working now so they won't want to stop using it).
• Once we can build a native app we can charge for download of the app also/instead, but that would require investment which we can't provide currently.
• There's a possibility of whitelabelling here too - anyone any experience with that and how you go about approaching a company (and idelly not have them implement the idea themselves)?

Any input you could give into any of the above would be very much appreciated


Thanks a lot in advance.

Is there any demand for this app? What research have you done to verify that people will buy it?

mlocmcgash

anbrutog wrote: »

Is there any demand for this app? What research have you done to verify that people will buy it?

Thanks for the reply.

We've done no market research bar asking friends/family/colleagues what they think. We haven't had a working app until now and didn't want to put the idea out there in case it turns out to be a good idea and someone copies it as it wouldn't be too hard to copy (call us paranoid).

The plan would be to have it free initially to try get people interested and using it (at that point we wouldn't be worried about copying as ours would already be out there and, hopefully, working). If that was successful then we would look at how to charge, I just wanted to get the above questions out there for input as if, for example, someone in the know in that industry though it had potential they may want to invest early but that may be based on future plans (per above questions).

If the enterprise board are in a position to answer a lot of above then that would be great but wanted to harness the knowledge on boards first if possible.

Trojan

1. We don't have a business name/aren't a registered company

Err, well go register one. At the very least, a registered Partnership. Very little cost (under 50 quid) for a more trustworthy story than "we're just 2 guys in a basement".

2. We haven't patented the idea (but are pretty sure it doesn't exist currently - in Ireland anyway)

You can patent aspects of software (even some you shouldn't be able to) but you generally need to show some new technique of solving a problem.

Ideas aren't valuable - implemented ideas are valuable. If someone wants to replicate it, they probably will be able to, so bring something unique to the table.

I believe that most early stage entrepreneurs over estimate the likelihood of a 3rd party both being (A) able to and (B) having the desire to copy the idea.

3. We haven't engaged with any enterprise board (yet)

It can be useful to do that sometimes. If you can, do one of the 1 day "Start Your Own Business" courses, it's useful to give you a run down of some of the basic things you might have overlooked.

4. Is approaching venture capitalists/investors a viable option at this (early) stage?

Not without a business entity of some type, for sure.

5. The app requires gathering and storing personal information from customers in the industry (e.g. age range, maybe even pictures)

Do research on data protection, this is important.

6. Cost Model

Pricing is very complex. Who are your customers? (They may not necessarily be your users)