relentless_j
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- Joined
- Mar 22, 2022
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Hello @Ravens_Shadow
Im a developer, and was recently presented with a concept by a dental practice owner, who thinks theres some value in modifying existing dental practice management software to solve a need
My question is, since i have a lot of potential opportunities like this that i constantly bounce back and forth on, how do you determine
- potential success/ROI of a potential solution?
- the hiring offer proposed to initial team members when VC is not an option, and initial funding is limited?
- build something from the start with the intention to sell it?
For example,
The potential solution: the dentist who spoke with me has said hes discussed this problem with other practice owners at conventions, and everyone seems to have the same problem. Ok, so we have a market needing a solution, with constituents who can afford to pay. We have a biz model that can scale ~infinitely. But how do you REALLY evaluate the opportunity here? What i mean is, Dental Practice Management software is a niche that is spoken for. for multiple decades now. We're definitely not breaking new ground with this concept (at least i dont think). In my mobile dev experience of hearing people's "App ideas", 99% of them are crap. either they would have low enterprise value, they dont solve a significant enough problem, or theyre catering to a market that cant pay. So what framework could be used to really eval if the juice is worth the squeeze on something like this, assuming your goal is a solid exit valuation?
The Hiring Offer: software projects, esp disruptive ones, are never simple to achieve. to get a minimum viable product out takes a whole team, and not just developers. How do you craft your hiring offer to attract top tier talent when youre not VC funded, and have little funding to start?
Build To Sell: name of a book ive read on the topic, but aside from managing books early on, making sure employee retention is good, having solid enterprise value etc, how do you approach ensuring the project youre building is something thats sellable within a year or two of its creation?
Thanks!
- Jim
Im a developer, and was recently presented with a concept by a dental practice owner, who thinks theres some value in modifying existing dental practice management software to solve a need
My question is, since i have a lot of potential opportunities like this that i constantly bounce back and forth on, how do you determine
- potential success/ROI of a potential solution?
- the hiring offer proposed to initial team members when VC is not an option, and initial funding is limited?
- build something from the start with the intention to sell it?
For example,
The potential solution: the dentist who spoke with me has said hes discussed this problem with other practice owners at conventions, and everyone seems to have the same problem. Ok, so we have a market needing a solution, with constituents who can afford to pay. We have a biz model that can scale ~infinitely. But how do you REALLY evaluate the opportunity here? What i mean is, Dental Practice Management software is a niche that is spoken for. for multiple decades now. We're definitely not breaking new ground with this concept (at least i dont think). In my mobile dev experience of hearing people's "App ideas", 99% of them are crap. either they would have low enterprise value, they dont solve a significant enough problem, or theyre catering to a market that cant pay. So what framework could be used to really eval if the juice is worth the squeeze on something like this, assuming your goal is a solid exit valuation?
The Hiring Offer: software projects, esp disruptive ones, are never simple to achieve. to get a minimum viable product out takes a whole team, and not just developers. How do you craft your hiring offer to attract top tier talent when youre not VC funded, and have little funding to start?
Build To Sell: name of a book ive read on the topic, but aside from managing books early on, making sure employee retention is good, having solid enterprise value etc, how do you approach ensuring the project youre building is something thats sellable within a year or two of its creation?
Thanks!
- Jim
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