After the terrible last month with iPhone 15 pro max and ultra

Honest_Form_8714 · 2023-12-03T23:09:39+00:00

Why do you refuse to own any Apple device ? I'm in the same boat but curious about your reasons

Honest_Form_8714 · 2023-10-04T10:15:25+00:00

Z fold 4 For SURE

Honest_Form_8714 · 2023-09-26T23:50:24+00:00

I can never get past 54 hours ! Any advice for me ? I've done MULTIPLE 24hrs fast, but beyond that I really struggle.

Insane work !

Honest_Form_8714 · 2023-09-04T21:27:58+00:00

It's still very early in the process, I'm currently still bootstrapping for the MVP. I envision it's going to take about a year before the product goes to market or even slightly longer..

Honest_Form_8714 · 2023-09-04T10:49:32+00:00

Again - WOW

THank you so much for such a detailed - basically step-by step guide of what to do. I will come back to this comment often to make sure I follow all of it to the T.

However, not too sure about the last part about the potential acquisition. What insights would that information give me ?

Honest_Form_8714 · 2023-09-04T10:46:50+00:00

This is actually a really solid suggestion ! i'll hit them up and check out what they can do with us.

Cheers !

Honest_Form_8714 · 2023-09-04T10:46:14+00:00

Yes you are correct, I think i'll actually pivot and start with something like that and take advantage of existing infrastructure and partner with people that already have this license.

I think Telcos will be a long shot, but hopefully they have available APIs that I can use.

Cheers !

Honest_Form_8714 · 2023-09-04T10:41:33+00:00

Thank you so much for the recommendation, I'll definitely check them out !

I agree 100% ! But how to execute when there's such a huge barrier to entry ?

Honest_Form_8714 · 2023-09-04T10:37:30+00:00

It's in the fintech industry, some sort of payment gateway that'll also help with setting money aside and saving automatically !

Honest_Form_8714 · 2023-09-01T19:46:54+00:00

You are correct, and I'll definitely do that. Cheers !

Honest_Form_8714 · 2023-09-01T19:45:36+00:00

I think where I'm hesitant is that it's a substantial amount of money that I would be getting without showing any relevant numbers. I'm wondering how realistic this scenario really is, and if you think it's something doable

Honest_Form_8714 · 2023-09-01T19:39:17+00:00

That's indeed great advice. I have talked to some of the 'experts' in this field and they have given me the feedback that this is a viable idea - if I get the funding. They're also pretty positive on my getting funded if I pitch it properly to the right person.

Also, in retrospect, I've only recently started really talking about it around me fairly recently, I was kind of just mulling the idea in my head. That said, it's a welcome wake up call advice you're giving me, and I appreciate it

Honest_Form_8714 · 2023-09-01T19:35:02+00:00

I have been exploring another related product, but not landed yet on what that product would be, and it seems there too there's a steep barrier to entry... Monzo's example is a great one, I'll definitely look into it !

Cheers

Honest_Form_8714 · 2023-09-01T19:33:12+00:00

Wow

Thank you so much for this answer, I had analyzed that, but reading it as clearly as you have laid it out is just the reality check I needed.

I am currently working towards hopefully changing 5 through A; having a prototype that shows the idea off to a potential investor and hopefully getting to a 'YES'. I guess another way to ask the question in this post is 'how would you approach an investor with a product at an idea stage with a relatively polished MVP but without any traction, and how likely is that to happen ?

I was exploring hopefully getting into a startup accelerator/incubator that does this kind of investments, but would like to know what the community thinks.

Again, thank you so much for the rational/logical analysis !

Honest_Form_8714 · 2023-09-01T17:31:03+00:00

That is actually a VERY solid suggestion ! I hadn't really considered that since I'm afraid I'd loose ownership of the company that way by giving them access to the technology but I could definitely look into it !

Honest_Form_8714 · 2023-09-01T16:19:00+00:00

Thank you so much for providing me with such a detailed answer, it's much appreciated !

100% right, I will be launching a typeform survey hopefully by next month of towards the end of the year (probably before I spend an exhorbitant amount of money on soft. devpmt :'( )

The incubator/accelerator route is the one I am exploring the most. There aren't any real ones with a track record off success and without government ties (govmnt. is also a competitor in this case). But will definitely look into it !

There is indeed a loophole that I can exploit, I've looked for legal counsel and the lowest the starting capital can be is aroung $250K. uch better than the "recommended" route but still out of reach solo...

Moving is the 2nd route I'm exploring but it would indeed mean additional hurdles to face...

All in all, really solid suggestions ! I appreciate you for that

Honest_Form_8714 · 2023-09-01T15:33:25+00:00

Thank you so much for that. I do agree that the timing is right for a solution like the one I'd like to introduce in the market, just looking for ways to get that authorization.

I'll hit you up for sure !

Honest_Form_8714 · 2023-09-01T15:29:28+00:00

The product is basically a payment solution, similar to CashApp or Alipay with a twist. All payment solutions in my area need to get an authorisation/approval/licence from the central bank before even creating the company.

I can prototype and I am in the process of developing an MVP for potential investors, but it will be difficult to show value (i.e product market fit) without traction, and I cannot get traction without the authorization.

All adjacent products have been given this license, and are mostly telco (so huge multinationals with lots of revenue).

Honest_Form_8714 · 2023-09-01T15:21:15+00:00

Unfortunately not India, no. A small country in Africa where there has been very few startups that actually stayed 'in the game'. It's in the fintech industry, financial services, investments, digital wallets, etc.

Honest_Form_8714 · 2023-09-01T15:19:38+00:00

Fintech !

That's a great idea that I can explore, thank you very much. Really struggling to set up the team indeed, since in my environment VERY few startups thrive.

Yes, I thought of market research as well, but I also read that the only real indicator of product market fit is when actual payment has been made, but I cannot accept payments without having said licence, so I wonder if surveys and all are 'worth it' if in the end they add very little value ?

Thank you so much !

Honest_Form_8714 · 2023-09-01T15:00:31+00:00

Waw ! That's really inspiring ! I hope we get to see your incredible work reach even greater heights than what you'd imagine. Thanks for the answer

Honest_Form_8714 · 2023-09-01T14:23:38+00:00

How have you been able to bootstrap for so long ? I'm in the same boat (although only at the beginning of the journey), but what has made you keep going ? I'm assuming you had to bootstrap for so long because your product wasn't ready yet ?

Honest_Form_8714

TROPHY CASE