You have an innovative idea and have come up with a software solution with the potential to disrupt the market. How do you present it to potential investors and entice them into funding your idea?
Rapid prototyping – quickly developing a high-fidelity prototype of the actual project – is the secret gate to access rapid investments. It will enable you to give investors a view into your technological vision without having to spend large amounts of money in doing so.
Here are five ways to maximize the impact of your prototype and set yourself on the path to landing that first big investment:
1. Focus on prototyping your primary needs
Remember that a typical pitch lasts only 10-15 minutes, so you only have 3-5 minutes to demo your prototype. When architecting quick demo versions of products, your objective is bypassing costly innovation cycles and developing your proof of concept as quickly as possible. While you do want to take your time to find the best solution, your prototype does not need to be perfect. It’s only a means to build the perfect product, not the perfect prototype.
2. Make sure your software partner is really quick
It’s a no brainer that rapid prototyping needs to be done… rapidly. For this, you’ll need a software partner with a smooth, yet agile rapid prototyping process in place that gets clients to quick demo versions of their solutions.
3. Have it look good for investors
Rapid prototyping may be a great help in your efforts to building investor confidence. For that, you’ll need to develop your prototype into a proof of concept demonstrating an actual vision of your product. This will help you show your investors the user flow and how the product will make the life of its users easier.
4. Be bold and experiment
After all, it’s one of the reasons your prototyping in the first place. Prototyping gives you the opportunity to better understand the problem for which you’re developing a solution and experiment on design improvements that will help you get to the best version of the solution. Therefore, don’t shy from asking your software partner to incorporate your new requests and requirements.
5. Find ways to demonstrate trendy functionality
Think Blockchain and AI. Neither is easy to demonstrate visually, but having them in the demo significantly boosts your chances of intriguing investors.
Have a brilliant idea and are looking for creating demonstration-ready software prototypes at light speed? Contact us at Volo and we’ll help you get there.