Proposition HN: I will pay $8000 for you to build your side-project/MVP
241–250 of 395 posts
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#242In the 50k/year scenario the investor get's a 5x on investment for years to come. That would be an awful feeling for the developer who's putting in the ongoing maintenance effort.
A better idea would be for the investor to claim 50% until capital investment was recouped, then gradually scale back.
- So, 50% until the $8k was paid back. - Then 25% until a 2x return. - Then move to a 10% ongoing royalty fee.
This excites and incentives the developer to keep building things out knowing that one day they will get the the 90% lions share of profits. It also works for the investor who can rinse and repeat the process with multiple developers.
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#243As tempting as it seems, a big project like that requires a team. A Lone Ranger cannot finish it in two months and even so it would not be of good quality and patched potential security holes. By the time the 'beta' is released to the public after two months, who exactly is the target market? You don't know what I am developing, you don't know who is going to use it, or who will pay for it, and of course no business plan either.
Work on the business plan first, research the market doing a SWOTT (Strengths Weaknesses Opportunities Threats Trends), pick the platform and language best suited for the project, write the proof of concept or 'beta', and then recruit beta testers to work out the bugs, and then after patching all the bugs and security holes you can release it and raise money to go public or whatever.
I'm not like these other guys, I have experience, I know what I am doing and how to turn a profit. I can smell failure like your offer. I don't want to create yet another Dotbomb that self-destructs.
Sure I got countless project ideas, why don't I do at least one of them? Well I have to do a feasibility study and all I mentioned above.
I've been throwing around project ideas with former business partners of mine. I ran two small businesses before, I've worked for FORTUNE 500 companies, I worked for small and medium businesses, I've worked for a college, I've done software consulting for the US Army and Federal Government. We don't do anything until we've done all the research first.
As tempting as that $8000 offer is, I'd be doing 100% of the work writing the software, and then you get 50% of the stock. I put in $2M USD worth of labor for a multimillion dollar project, and for your $8000 you get half the stock? I can find users and promote my web site for free you know.
Anyway thanks for the good laugh, I'd rather take my time and do it right than rush into two months with no research done at all.
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#244To the naysayers in this thread: You have several options here other than just saying 'oohhh, this is mean and nasty'. - match the offer with a better one, so all those that would take up the OP would flock to you instead - build your MVP, keep 100% and then do your own marketing. $5000 for 50% difference but you get to do all the work. Either one of those would be so much more effective than just berating the OP or…
Actually it is $8000 for 50% difference because it isn't just the initial $5000, you also would have to pay $3000 for marketing. And if the OP knows more about how to market than you do, you'd actually need to spend more than that to market your idea as well as the OP will.
I hold dual degrees in computer science and business management. I think I can do my own marketing, thank you. If not I know people who will for a small fee.
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#245This is something that I half completed, but stopped because I lacked the marketing chops: http://www.mailreceipts.com/
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#246Pre-emptive FAQ: Isn't this a horrible deal? Incubators typically inject more money for far less equity! I earn $10K a month, I could easily save up $8K in a few months, and do this myself for 100% equity. True. If you can get into YCombinator, for example , you should obviously go for it. I can't compete with that. If you're earning $150K+, or you've already been working on your side-project for a year, this may not…
If interested, drop me a line at hnproject2013@gmail.com If you have questions or HN-style critic on the structure/proposition, write below and help me build proposition version 1.1!
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#247This is strictly a better offer than the OP's: I get paid for about the same amount of time, and I get to keep 100% of the creation (so does everyone else, since it's Open Source). In other words everybody wins.
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#248I can afford to build and host a product that I would use. I am looking for someone that can validate and grow the business, leaving me to do what I am good at, which is Product.
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#249OK, I'll put something concrete on the table to get away from the hypothetical. Here's one of my MVP's (yes folks, I am working on more than one idea at a time): http://www.tommyteaches.com/ Go on, check it out and come back. This is actually a finished product. There's nothing new to build at this stage except for additional installments of Tommy Teaches apps (additional subjects) and a few that will require slightl…
You might want to look at iOS and iPhone review sites and give them your link for possible reviews. If you get more reviews on it from third parties who are neutral, it will help promote your app. Find target users by posting to K-12 education forums with your Tommy Teaches web site in your signature, find Homeschooling forums and post in them with TT in your tag line as well. Form partnerships with other makers of children's learning apps to link to your web site and your will link back to their web site.
I can think of more titles for Tommy, there is a big market for foreign languages as most schools don't teach foreign languages due to budget cuts (my son's school did that) and the school advises parents to go online and have their children learn there. You could make Spanish, French, German, Latin, Chinese, Japanese learning apps and market them to parents who need to have their child learn a foreign language. I haven't seen many children friendly foreign language apps on the App Store. They are mostly for adults. Tommy Teachers can fill that gap.
Write some eBooks based on the Tommy Teacher graphics and materials. Start out with an Alphabet book, and work on each title. You can publish them with Kindle and Nook as well as Apple iBooks.
Make some pages for Tommy Teaches at Facebook, GPlus, LinkedIn, Twitter, etc to promote new products and have people sign up and refer your pages to friends.
You might want to make some apps as Autism-friendly, I hear there is a big market for that. A Tommy Teaches app that autistic children can use that speaks for them, when they can't speak. They just click on icons and it forms words for them. Use most common words that a child might say and have cartoon pictures of them.
Good luck on Rev 2, this is all free advice for you. You don't need that guy's $8000 investment.
Re: Proposition HN: I will pay $8000 for you to build your side-project/MVP
#250Ah how about no? As tempting as it seems, a big project like that requires a team. A Lone Ranger cannot finish it in two months and even so it would not be of good quality and patched potential security holes. By the time the 'beta' is released to the public after two months, who exactly is the target market? You don't know what I am developing, you don't know who is going to use it, or who will pay for it, and of co…