startup-costs, growthIt’s a tech based company, think of AirBnB.
Now I only have an idea, but would like to bring it to life.
I have 2 options.
Option 1.
Build a basic viable product (still looks professional and presentable, TaT 30 days) using Wordpress -> see if the idea is working -> apply for funding and build a professional website
Option 2.
Start building the app from scratch (will allow me to customize it exactly how I want, but will take around 90-180 days to build), but on the downside, requires much more time to set up and a lot more initial investment.
Which is the best route for action?
As a third option , You can collect market research data on the similar service that already exists. The market research should cover all the pros and cons on the current service. Then try adding some extra creamy layer by solving the problems of the current services. Reach out to some technical person who can build a website or app for your idea , giving him/her a small equity . Then present it to investors . Hope this helps.
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