So You've Got A Great Idea - ADD2014

Funky Android Ltd. - http://www.funkyandroid.com/

So you’ve got a great idea…Al Sutton, Funky Android Ltd.

http://www.funkyandroid.com

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?




• 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?




Hardware is Hard




Hardware is Hard … really Hard!




• 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




• 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




Does your idea rely on a “Network Effect”?




• 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


http://en.wikipedia.org/wiki/File:Network_effect.png



• 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




• 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




Crowd Funding




• 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




Build a team




• 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




• 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




• 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




• If you can’t build a team, something needs to be re-thought.

Build a team




Stealth Mode




Stealth Mode




• 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




• 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




Minimum Viable Product (MVP)




• 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




• 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




Optimise and Pivot




• Optimise : Small changes to current product

!

• Pivot : Big change to go in a new direction

Optimise and Pivot




• Optimise : When things are going well.

!

• Pivot : When things aren’t.

Optimise and Pivot




Contracts




• 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




If it’s so difficult - Why?




Because you may end up spending most of your life doing something you love.


Funky Android Ltd. - http://www.funkyandroid.com/

Funky Android Ltd. http://www.funkyandroid.com/

Questions?



So You've Got A Great Idea - ADD2014

Technology

google facebook twitter

crowd funding

al sutton

funky android

stealth mode

existing networks

existing site

great idea