Questions

I have been in the app business for the last 4 years. We have mainly worked at building our own smaller projects. I have an idea for an app that I see as potentional massive. Bigger then Uber and possibly the end of Uber - I don't want to take the chance of taking too long in making this happen. I was thinking of finding a VC or partner that not only has the funds but actually has the connections required to make this the next billion dollar app. What criteria should I be looking for and where should I start.

I am a corporate lawyer and business adviser for over 7 years. I worked mainly in Israel, "the startup nation" and at least twice a year an entrepreneur comes over with a similar question. Don't know how to say it better but straight forward - no one EVER starts as a billion dollar company. Did you try your idea on a small market first and saw that it's working? A lot of experts (ask Dan Martell the founder of Clarity) will tell you that you cannot take the whole world by a storm at once. You start small and you scale it little by little. I'm not saying your idea is not good or that it cannot kick out Uber, what I'm saying is that since you don't have to start big, you can take a co-founder that complete your skills - if you are good in developing and lack the marketing, take someone that is great in marketing. If you cannot pitch, take someone who can talk and sell.
But first of all - show a proof of concept.
By the way, if you didn't do it till now, I recommend you read Zero to One by Peter Thiel one of the founders of PayPal. It's a great book where he discusses the creation of something new - from 0 to 1 in oppose to from 1 to n, i.e. adding more of something familiar. Don't define who you are by others, say what's unique about you.
If you wish to elaborate, just give me a call.
Y


Answered 9 years ago

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