RE: [newtech-1] What would you do with $10,000?

From: Mikhail G.
Sent on: Tuesday, December 11, 2012 7:36 PM

I would suggest to spend first $15.50 on “Automate This: How Algorithms Came to Rule Our World” by Christopher Steiner to understand the reality of the game :-) --Mikhail Gorelkin

 

From: [address removed] [mailto:[address removed]] On Behalf Of Peter Bell
Sent: Tuesday, December 11,[masked]:25 PM
To: [address removed]
Subject: Re: [newtech-1] What would you do with $10,000?

 

Spend the first $40 or so on a copy of "the lean startup" and "running lean". Read them.

 

Spend the next $200 on 20 coffee meetings at a local starbucks doing some basic customer development to make sure you've clearly identified the problem space and the solution space and are getting some useful initial expressions of interest.

 

At that point, determine what the biggest risks/hypotheses remaining are and brainstorm the simplest, cheapest ways to validate those hypotheses - from a simple landing page to a video to a marketing brochure to getting some real code written. Invest in those and depending on the feedback, look for the next biggest risk hypothesis and brainstorm the cheapest way to get some validated learning around that. Rinse and repeat.

 

Best Wishes,

Peter

 

On Dec 11, 2012, at 5:37 PM, Rich Berrebbi <[address removed]> wrote:



Hi

Hope everyone is doing well.

 

The question pertains to the most optimal use of initial funds for a start-up on Day 1.

 

Finally able to focus some on a new start-up I believe has merit. Obviously, this idea will take more than the $10K to get started but looking for different technical perspectives on the optimal way to start. Consider the money initial seed funding as it were.

 

Ideally I would like to have a beta/demo/video something to show other (thus making it real) so they can begin to see the vision for themselves. 

 

Would you start with wireframing? Use something like justinmind.com

 

Having someone do the wireframing, what would be a reasonable range of hourly charge for someone domestically? (Even though I have used overseas outsourcing, I believe it to be best utilized for specific functions)

 

Better off starting with a completely non-technical video? (My limited intelligence has pretty much guaranteed that I will not be breaking new ground technically lol)

 

Really looking for some insightful perspective to consider as well as any recommendations. 

 

In case it is space dependent, consider it  music-social space.

 

Thanks for any feedback.

Rich





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