Entrepreneurship Archives - Chromaplex

Is Your Idea Good? Part 5 – On Venture Capitalists

You should present your idea to a venture capitalists. They might not say yes, but these are people who invest in ideas for a living. If they don’t think it’s a good idea, it might not be. Even if you are capable of self-funding, bringing the idea to VC’s is a good idea because it can give you an outside perspective. Friends and family have a hard time being objective.

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Is Your Idea Good? Part 4 – Scoping a Minimum Viable Product

MVP and scoping are important because scoping impacts budget, and budget is king. Scope creep is inherent in software development, and it’s the biggest threat to the success of a good idea after marketability. If you cannot reduce the scope of your MVP below 75% of your development budget, your good idea faces a very real chance of failing.

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Is Your Idea Good? Part 3 – Know Your Market

Social media is overblown. Expecting to “go viral” is like hoping to start a modeling career by walking down the street. This post goes over several very important misconceptions about how marketing web apps works, and how a good idea is actually a bad idea if you cannot effectively reach the potential customers.

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Is Your Idea Good? Part 2 – Know Your Audience

In this second part of our five-part series, we address the failed assumption of “if you build it they will come”. We explain how to determine who your audience is, and how attracting an audience is done in the industry. Even a really great idea can fail if there’s no clear way to reach the audience that you’re building it for.

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Is Your Idea Good? Part 1 – Initial Considerations

We’ve spent the last decade working with entrepreneurs to bring their ideas to life. It’s a real passion of ours and nothing matches the pride of knowing that we made a real contribution to a new success.

Unfortunately though, not every idea is a good one and even great ideas fail all the time, for any number of reasons. In this first post of our five part series, we’ll help you figure out if your idea can be turned into a real app, and whether or not you should try.

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