So You've Got A Great Idea - ADD2014

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So you've got a great idea for a technology product which you want to turn into a business. Here's a few things you should think about...

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So You've Got A Great Idea - ADD2014

  1. 1. Funky Android Ltd. - http://www.funkyandroid.com/ So you’ve got a great idea… Al Sutton, Funky Android Ltd.
  2. 2. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Is it a great idea?
  3. 3. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Don’t jump at the first idea you have. • Don’t spend months switching ideas. • Bounce the idea off a few people. • See if people would buy it. • Don’t be sentimental about an idea, there are plenty more out there. Is it a great idea?
  4. 4. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Hardware is Hard
  5. 5. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Hardware is Hard … really Hard!
  6. 6. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Start with a reference design • Parts get changed to cut costs or offer new features • Parts get changed due to supply issues • Enclosure has to use the right glue, screws, etc., etc. • Enclosure can affect the performance. • Everything needs testing Hardware is Hard
  7. 7. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Pay for components 30+ days in advance • Shipping can take several weeks • Paid by retailers 30+ days after delivery • Delivery estimates can be out by 50% or more
 
 • That means you can have several months between when you pay and when you get paid. Hardware is Hard
  8. 8. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Does your idea rely on a “Network Effect”?
  9. 9. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Each new user makes the service more useful for everyone else • Problem: How to get people to initially use it? • Solutions: Have a unique service, spend lots of money, use existing networks. Network Effects Picture from Wikipedia - http://en.wikipedia.org/wiki/File:Network_effect.png
  10. 10. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Existing networks;
 
 Google
 Facebook
 Twitter
 Any existing site with an API and users
 • Use a network you trust, but one that is relevant. • Look at the APIs, they have to do what you want. Network Effects
  11. 11. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Existing networks;
 
 Google
 Facebook
 Twitter (?)
 Any existing site with an API and users
 • Use a network you trust, but one that is relevant. • Look at the APIs, they have to do what you want. Network Effects
  12. 12. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Crowd Funding
  13. 13. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Most crowd funding sites are actually pre-order mechanism. • People who crowd fund you tend to want to be more involved in your company • Although you get their money, you still have to produce their product and you still have to send it to them. Crowd Funding
  14. 14. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Build a team
  15. 15. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • You can’t do everything all of the time (Illness, personal situations, etc., etc., etc.) • If you can get others to join you it validates your idea; They believe in what you believe. • Choose people who you know are better than you at things you need (sales, etc.). • Always be comfortable with who joins. There will be stressful times ahead. Build a team
  16. 16. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Very, Very, Very few single person products succeed for 5, 10, 15, or more years. • Common thinking: If one person can do it, then a team can copy that idea in less time, and probably cost less • Supporting your users can be a headache. You’ll need someone to sanity check you’re not being unreasonable. Build a team
  17. 17. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Avoid deadlock: You should always have a way of making sure that a decision can be made. • Avoid being unable to make a decision because of the way decisions are made (e.g. 50/50 vote split). • Even the most junior member of your team may be a way to avoid deadlock (49%, 49%, 2% voting split). Build a team
  18. 18. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • If you can’t build a team, something needs to be re-thought. Build a team
  19. 19. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Stealth Mode
  20. 20. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Stealth Mode
  21. 21. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • The biggest problem most start-ups have is getting know, not having their idea copied. • If your idea is good, others are likely to be working on a similar idea already. • If your idea isn’t good you should avoid creating a small bubble around it that doesn’t represent the wider opinion. Stealth Mode
  22. 22. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Others will copy your idea if it’s successful. There’s very little you can do about it. • Someone, somewhere will let details slip out; Even if they’re not accurate. • Creating something big and complex and then releasing it usually creates a problems for new users who need to learn your system. Stealth Mode
  23. 23. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Minimum Viable Product (MVP)
  24. 24. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • The smallest feature set to make your product useful. • Doesn’t have to be profit generating, but there should be route to generating profit. • You may not be proud of the implementation, but it’s the best way to get your product out there. MVP
  25. 25. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • The more you spend on your MVP, the more you’re risking. • A small, feature focused MVP is the best way to get feedback about where you’re heading. • You may not be proud of the code in the MVP, but it’s the best way to get your product out there. MVP
  26. 26. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Optimise and Pivot
  27. 27. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Optimise : Small changes to current product ! • Pivot : Big change to go in a new direction Optimise and Pivot
  28. 28. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • Optimise : When things are going well. ! • Pivot : When things aren’t. Optimise and Pivot
  29. 29. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Contracts
  30. 30. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 • If you’re working with another party, always have a contract in place. • If you don’t have a contract it’s far harder to resolve disagreements • Contracts don’t need to be huge, just well thought out. Some contracts are less than one page. Contracts
  31. 31. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 If it’s so difficult - Why?
  32. 32. www.funkyandroid.com “So you’ve got a great idea…” - Al Sutton, Funky Android Ltd. at Android Developer Days 2014 Because you may end up spending most of your life doing something you love.
  33. 33. Funky Android Ltd. - http://www.funkyandroid.com/ Funky Android Ltd. http://www.funkyandroid.com/ Questions?

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