Brief: Learning the whole process of making an app and make it to a Pitch Deck.
Start from problem and do research on possibility of the solotions. plan out business model, Assemble the team. Estimate the cost.
I chose to work on an app for non verbal kid and name it “You words”
Takeaway from this project: UX is huge, From research to business model to developer. UX is a hub for each member of the team. The better you know all the skills of the product pipline, The better UX Designer you can be.
Must show pain.
Needs to be a solution to a problem rather than a technology looking for an application.
Should be a “must have” rather than a “nice to have”.
Must be a basis for a full company, not just a new feature or incrementalextension for an existing product offering.
3. Market Potential
Most show a large and growing market in the billions.
Should have third party validation of market size and growth.
4. Management Team
Past success together is a plus.
OK to have holes that need to be filled.
5. Go-To-Market Strategy
Direct, channel, OEM, viral? Remember that customer adoption is often the hardest part of growing a company.
What method for what market at what stage?
Competition is good, it validates the market.
Differentiate from your competition.
7. Financial projections
Five years with Revenue and EBITDA is sufficient.
Most VCs will want to see a path to $50 million or more in revenue.
8. Funds Requested and Use of Proceeds
VCs like to see sales and marketing as use of proceeds, and they understand the need to support product development
They don’t like to see back pay, legal fees, excessive R&D.