330. What To Do When Someone Pitches You An App Idea

Once your friends know you're developer, Once your friends know you're developer, they're probably going to pitch you they're probably going to pitch you they're probably going to pitch you their app ideas or their game ideas or their app ideas or their game ideas or their app ideas or their game ideas or their cool website ideas. Most of these their cool website ideas. Most of these their cool website ideas. Most of these ideas are going to be terrible. A few ideas are going to be terrible. A few ideas are going to be terrible. A few will be decent and once in a while will be decent and once in a while will be decent and once in a while you'll come across some truly great you'll come across some truly great you'll come across some truly great ideas. ideas. ideas. So how do you evaluate these ideas and So how do you evaluate these ideas and So how do you evaluate these ideas and how do you respond to these pitches? And how do you respond to these pitches? And how do you respond to these pitches? And how do you let people down gently when how do you let people down gently when how do you let people down gently when you don't want to take on their idea? you don't want to take on their idea? you don't want to take on their idea? This is what we're going to discuss in This is what we're going to discuss in This is what we're going to discuss in today's episode of Dev Questions. Software development is more than just Software development is more than just writing code. So let's talk about the writing code. So let's talk about the writing code. So let's talk about the rest of it. Specifically, let's talk rest of it. Specifically, let's talk rest of it. Specifically, let's talk about evaluating app pitches from about evaluating app pitches from about evaluating app pitches from others. others. others. And let's start with the basics. Most And let's start with the basics. Most And let's start with the basics. Most pitches are terrible. pitches are terrible. pitches are terrible. That isn't the fault of your friends. That isn't the fault of your friends. That isn't the fault of your friends. They just don't know what they don't They just don't know what they don't They just don't know what they don't know. know. know. And this is a great place to start.

And this is a great place to start. And this is a great place to start. Rather than just shooting down their Rather than just shooting down their Rather than just shooting down their idea and telling them no or that it's a idea and telling them no or that it's a idea and telling them no or that it's a horrible idea, provide a little horrible idea, provide a little horrible idea, provide a little education with your response. education with your response. education with your response. And that way you can help them And that way you can help them And that way you can help them understand why they should be saying no understand why they should be saying no understand why they should be saying no too. For example, not long ago I had a too. For example, not long ago I had a too. For example, not long ago I had a friend reach out to pitch me a game friend reach out to pitch me a game friend reach out to pitch me a game idea. He had a multi-page design idea. He had a multi-page design idea. He had a multi-page design document for the game that he expected document for the game that he expected document for the game that he expected to take about a year for one developer to take about a year for one developer to take about a year for one developer to build. to build. to build. After looking over the document, I After looking over the document, I After looking over the document, I explained how complicated the game explained how complicated the game explained how complicated the game actually was. I talked through what each actually was. I talked through what each actually was. I talked through what each part would take in a bit of detail. Not part would take in a bit of detail. Not part would take in a bit of detail. Not a lot, but just enough to understand, a lot, but just enough to understand, a lot, but just enough to understand, oh, that's that's a lot of work. oh, that's that's a lot of work. oh, that's that's a lot of work. In the end, it was clear the project In the end, it was clear the project In the end, it was clear the project required multiple developers, a required multiple developers, a required multiple developers, a designer, and then other people as well designer, and then other people as well designer, and then other people as well such as, you know, voiceover and and the such as, you know, voiceover and and the such as, you know, voiceover and and the rest. So instead of saying no, explained rest. So instead of saying no, explained rest. So instead of saying no, explained why the conclusion was no, why it just why the conclusion was no, why it just why the conclusion was no, why it just wouldn't work that way. wouldn't work that way. wouldn't work that way. Not long ago, someone else pitched me an Not long ago, someone else pitched me an Not long ago, someone else pitched me an app idea. Their idea was simple enough, app idea. Their idea was simple enough, app idea. Their idea was simple enough, but their proposal was that I would do but their proposal was that I would do but their proposal was that I would do all the work and they would get half the all the work and they would get half the all the work and they would get half the profits.

profits. profits. The app was a mobile app going into a The app was a mobile app going into a The app was a mobile app going into a crowded market space. crowded market space. crowded market space. I explained how difficult it would be to I explained how difficult it would be to I explained how difficult it would be to stand out from the crowd and how the stand out from the crowd and how the stand out from the crowd and how the odds were stacked against the success of odds were stacked against the success of odds were stacked against the success of the app. the app. the app. I pointed out other apps that I had been I pointed out other apps that I had been I pointed out other apps that I had been commissioned to build that were commissioned to build that were commissioned to build that were technical successes and overall failures technical successes and overall failures technical successes and overall failures because of the lack of traction in the because of the lack of traction in the because of the lack of traction in the market. market. market. I then discussed the inequity of me I then discussed the inequity of me I then discussed the inequity of me doing all the development work and them doing all the development work and them doing all the development work and them just providing the idea. just providing the idea. just providing the idea. Ideas are a lot cheaper than actual Ideas are a lot cheaper than actual Ideas are a lot cheaper than actual work. work. work. I outlined all the work that I would I outlined all the work that I would I outlined all the work that I would need them to do and how I would still need them to do and how I would still need them to do and how I would still require a bigger share than just half. require a bigger share than just half. require a bigger share than just half. And that's only after they could provide And that's only after they could provide And that's only after they could provide a clear plan of how they intended to a clear plan of how they intended to a clear plan of how they intended to market the app. market the app. market the app. By explaining the reality of the By explaining the reality of the By explaining the reality of the situation and then by showing them how situation and then by showing them how situation and then by showing them how much work that they would have to do, it much work that they would have to do, it much work that they would have to do, it made it easier on them to say no from made it easier on them to say no from made it easier on them to say no from their end because and I was already their end because and I was already their end because and I was already saying no from my end, but but by that saying no from my end, but but by that saying no from my end, but but by that point they understood, yeah, I'm saying point they understood, yeah, I'm saying point they understood, yeah, I'm saying no, too, right? So, we're kind of no, too, right? So, we're kind of no, too, right? So, we're kind of mutually saying, yeah, this isn't a good mutually saying, yeah, this isn't a good mutually saying, yeah, this isn't a good idea. Just because it it's it's a lot of idea. Just because it it's it's a lot of idea. Just because it it's it's a lot of work and often people think that once work and often people think that once work and often people think that once they have the idea, they're done.

they have the idea, they're done. they have the idea, they're done. And yet they can kind of reap the And yet they can kind of reap the And yet they can kind of reap the rewards of telling somebody else to do rewards of telling somebody else to do rewards of telling somebody else to do this and out pops an idea and that this and out pops an idea and that this and out pops an idea and that somehow makes them money. Um somehow makes them money. Um somehow makes them money. Um they just don't know what they don't they just don't know what they don't they just don't know what they don't know. And so, helping to educate them know. And so, helping to educate them know. And so, helping to educate them helps to kind of ease that no from being helps to kind of ease that no from being helps to kind of ease that no from being a harsh no to a, oh, that makes sense. a harsh no to a, oh, that makes sense. a harsh no to a, oh, that makes sense. And it also helps kind of round or like And it also helps kind of round or like And it also helps kind of round or like head off any any future pitches they head off any any future pitches they head off any any future pitches they might have where they go, oh, wait. might have where they go, oh, wait. might have where they go, oh, wait. Yeah, it's going to take more than that Yeah, it's going to take more than that Yeah, it's going to take more than that or I don't really want to spend this or I don't really want to spend this or I don't really want to spend this much time working on this idea. I just much time working on this idea. I just much time working on this idea. I just want to pass off to somebody else and want to pass off to somebody else and want to pass off to somebody else and that's not going to work. that's not going to work. that's not going to work. So, those are just a couple of the So, those are just a couple of the So, those are just a couple of the dozens of examples I have personally of dozens of examples I have personally of dozens of examples I have personally of handling pitches from my friends and my handling pitches from my friends and my handling pitches from my friends and my colleagues. colleagues. colleagues. So, let's talk through some of the So, let's talk through some of the So, let's talk through some of the important things that I use to evaluate important things that I use to evaluate important things that I use to evaluate any new pitch. any new pitch. any new pitch. Because this is going to happen a lot. Because this is going to happen a lot. Because this is going to happen a lot. Number one, is it even feasible? Like Number one, is it even feasible? Like Number one, is it even feasible? Like sometimes you get app ideas where you're sometimes you get app ideas where you're sometimes you get app ideas where you're like, like, like, yeah, that's not really possible, right?

yeah, that's not really possible, right? yeah, that's not really possible, right? Like it's just not, you know, the the Like it's just not, you know, the the Like it's just not, you know, the the technology's not there or the technology's not there or the technology's not there or the limitations of technology require that I limitations of technology require that I limitations of technology require that I can't do that. You know, for example, um can't do that. You know, for example, um can't do that. You know, for example, um for a long time I wanted to create an for a long time I wanted to create an for a long time I wanted to create an alarm clock for my iPhone because I alarm clock for my iPhone because I alarm clock for my iPhone because I think the the iPhone alarm is think the the iPhone alarm is think the the iPhone alarm is dumb. Um there's just so many things dumb. Um there's just so many things dumb. Um there's just so many things that I wish I would I would like that I wish I would I would like that I wish I would I would like differently. But for a very long time, differently. But for a very long time, differently. But for a very long time, Apple wouldn't allow you to actually Apple wouldn't allow you to actually Apple wouldn't allow you to actually build an alarm clock because it had to build an alarm clock because it had to build an alarm clock because it had to run in the background and all this other run in the background and all this other run in the background and all this other stuff and they just didn't allow those stuff and they just didn't allow those stuff and they just didn't allow those features. Well, for a long time it just features. Well, for a long time it just features. Well, for a long time it just wasn't feasible. So, if someone came to wasn't feasible. So, if someone came to wasn't feasible. So, if someone came to me because I had this happen, where they me because I had this happen, where they me because I had this happen, where they say, well, I want to build a different say, well, I want to build a different say, well, I want to build a different alarm clock for the iPhone. alarm clock for the iPhone. alarm clock for the iPhone. Nope, can't do it. It's just not Nope, can't do it. It's just not Nope, can't do it. It's just not feasible. feasible. feasible. Of course, now it is and it's still my Of course, now it is and it's still my Of course, now it is and it's still my radar of things that at some point I'll radar of things that at some point I'll radar of things that at some point I'll have to do. But, you know, if it's not have to do. But, you know, if it's not have to do. But, you know, if it's not feasible, then you're done. You say, you feasible, then you're done. You say, you feasible, then you're done. You say, you know what? Here's why this won't work. know what? Here's why this won't work. know what? Here's why this won't work. Uh number two, Uh number two, Uh number two, do I have time for this?

do I have time for this? do I have time for this? This is a harder question for developers This is a harder question for developers This is a harder question for developers who often have um you know, bigger eyes who often have um you know, bigger eyes who often have um you know, bigger eyes than their stomach kind of thing. You than their stomach kind of thing. You than their stomach kind of thing. You know, I remember when I was growing up know, I remember when I was growing up know, I remember when I was growing up that was always a a phrase I heard a that was always a a phrase I heard a that was always a a phrase I heard a lot. Well, you know, if you if you took lot. Well, you know, if you if you took lot. Well, you know, if you if you took a lot of food on your plate and then a lot of food on your plate and then a lot of food on your plate and then just couldn't finish it, you you were just couldn't finish it, you you were just couldn't finish it, you you were too full, too full, too full, people would tell you, "Well, you had people would tell you, "Well, you had people would tell you, "Well, you had your eyes were bigger than your your eyes were bigger than your your eyes were bigger than your stomach." stomach." stomach." This same is true for developers. We This same is true for developers. We This same is true for developers. We often think, "Oh, that's a weekend often think, "Oh, that's a weekend often think, "Oh, that's a weekend project." Which my wife knows this point project." Which my wife knows this point project." Which my wife knows this point to laugh at that. Any kind, you know, to laugh at that. Any kind, you know, to laugh at that. Any kind, you know, project that I say is a weekend project, project that I say is a weekend project, project that I say is a weekend project, yeah, it's going to take months to do. yeah, it's going to take months to do. yeah, it's going to take months to do. Because it's you always forget about the Because it's you always forget about the Because it's you always forget about the complexity. You always kind of gloss complexity. You always kind of gloss complexity. You always kind of gloss over that. So, part of this is just over that. So, part of this is just over that. So, part of this is just evaluating honestly what it's actually evaluating honestly what it's actually evaluating honestly what it's actually going to take. But then also, do you going to take. But then also, do you going to take. But then also, do you actually have the side, you know, side actually have the side, you know, side actually have the side, you know, side time to do this? What are you What are time to do this? What are you What are time to do this? What are you What are you giving up you giving up you giving up to say yes to this? Because your time is to say yes to this? Because your time is to say yes to this? Because your time is always full. Whether you know it or not, always full. Whether you know it or not, always full. Whether you know it or not, every 24 hours of a day, you use all 24.

every 24 hours of a day, you use all 24. every 24 hours of a day, you use all 24. Just sometimes you use them for watching Just sometimes you use them for watching Just sometimes you use them for watching Netflix or sleeping or Netflix or sleeping or Netflix or sleeping or wandering out in the in the wilderness wandering out in the in the wilderness wandering out in the in the wilderness just to kind of have fun. just to kind of have fun. just to kind of have fun. You're going to have to give up You're going to have to give up You're going to have to give up something in those 24 hours to be able something in those 24 hours to be able something in those 24 hours to be able to do this project. to do this project. to do this project. Are you willing to give that up? Do you Are you willing to give that up? Do you Are you willing to give that up? Do you have time for this? And by saying yes to have time for this? And by saying yes to have time for this? And by saying yes to this, this, this, you're probably saying no to almost you're probably saying no to almost you're probably saying no to almost everything else when it comes to other everything else when it comes to other everything else when it comes to other pitch ideas or other ideas you have of pitch ideas or other ideas you have of pitch ideas or other ideas you have of your own. your own. your own. So, are you willing to say no to a whole So, are you willing to say no to a whole So, are you willing to say no to a whole bunch of things in order to say yes to bunch of things in order to say yes to bunch of things in order to say yes to this? Do you have time for it? this? Do you have time for it? this? Do you have time for it? Number three, Number three, Number three, is the monetary split fair? Now, this is is the monetary split fair? Now, this is is the monetary split fair? Now, this is not the time to have a detailed not the time to have a detailed not the time to have a detailed negotiation on percentage points and and negotiation on percentage points and and negotiation on percentage points and and all the rest. But just take a rough all the rest. But just take a rough all the rest. But just take a rough sketch look at it and go, "That doesn't sketch look at it and go, "That doesn't sketch look at it and go, "That doesn't make sense." Like my example of I have make sense." Like my example of I have make sense." Like my example of I have the app app idea, therefore I get 50% of the app app idea, therefore I get 50% of the app app idea, therefore I get 50% of the profits. No. No, that's not fair. Um the profits. No. No, that's not fair. Um the profits. No. No, that's not fair. Um if I'm going to do all the work, then if I'm going to do all the work, then if I'm going to do all the work, then I'm going to get most if not all the I'm going to get most if not all the I'm going to get most if not all the profit because I can't can't expect to profit because I can't can't expect to profit because I can't can't expect to say that you know an idea is worth that say that you know an idea is worth that say that you know an idea is worth that much. So instead we're going to talk much. So instead we're going to talk much. So instead we're going to talk about how you're going to contribute a about how you're going to contribute a about how you're going to contribute a lot more lot more lot more in order to meet some reasonable in order to meet some reasonable in order to meet some reasonable percentage for you too.

percentage for you too. percentage for you too. So is a monetary split fair? So is a monetary split fair? So is a monetary split fair? Talk about the process, talk about you Talk about the process, talk about you Talk about the process, talk about you know how much work you put in versus know how much work you put in versus know how much work you put in versus them them them and what's what's really fair? Um and to and what's what's really fair? Um and to and what's what's really fair? Um and to see if there's even a a common ground see if there's even a a common ground see if there's even a a common ground here because if they say you know what? here because if they say you know what? here because if they say you know what? No. I'm not going to give you more than No. I'm not going to give you more than No. I'm not going to give you more than 50% 50% 50% then it's probably not worth it if then it's probably not worth it if then it's probably not worth it if you're doing all the work. you're doing all the work. you're doing all the work. Now here's the other thing. Now here's the other thing. Now here's the other thing. When it comes to splitting money this is When it comes to splitting money this is When it comes to splitting money this is where you're talking about potential where you're talking about potential where you're talking about potential partnerships. Try it if at all possible to avoid Try it if at all possible to avoid partnerships. Just don't do it if at all possible. Just don't do it if at all possible. So many companies struggle and fail So many companies struggle and fail So many companies struggle and fail because of partnerships. because of partnerships. because of partnerships. Where there's two people it's like a Where there's two people it's like a Where there's two people it's like a marriage. You're marrying your business marriage. You're marrying your business marriage. You're marrying your business partner in a in a you know business way partner in a in a you know business way partner in a in a you know business way where you're tied to them and how they where you're tied to them and how they where you're tied to them and how they work and at some point you know at first work and at some point you know at first work and at some point you know at first it's sunshine and roses later on you're it's sunshine and roses later on you're it's sunshine and roses later on you're like you know you're breathing too loud.

like you know you're breathing too loud. like you know you're breathing too loud. Right? So at some point you're going to Right? So at some point you're going to Right? So at some point you're going to get frustrated where get frustrated where get frustrated where someone's going to come up and someone's going to come up and someone's going to come up and you don't like their decision or you you don't like their decision or you you don't like their decision or you don't like how they're doing things or don't like how they're doing things or don't like how they're doing things or they don't you don't think they're they don't you don't think they're they don't you don't think they're putting enough effort in and all of a putting enough effort in and all of a putting enough effort in and all of a sudden you're frustrating each other and sudden you're frustrating each other and sudden you're frustrating each other and the business can fail just because of the business can fail just because of the business can fail just because of that or the partnership can fail because that or the partnership can fail because that or the partnership can fail because of that. So I would encourage you to not of that. So I would encourage you to not of that. So I would encourage you to not go into a partnership when doing this. go into a partnership when doing this. go into a partnership when doing this. It should be something where like if If It should be something where like if If It should be something where like if If comes to me and pitches and they say "I comes to me and pitches and they say "I comes to me and pitches and they say "I want to build this." And I if I were to want to build this." And I if I were to want to build this." And I if I were to say, "Yes, I think that's a good idea." say, "Yes, I think that's a good idea." say, "Yes, I think that's a good idea." Then what I would do is talk through the Then what I would do is talk through the Then what I would do is talk through the fact that we're going to do it under my fact that we're going to do it under my fact that we're going to do it under my business. And you will have you'll be business. And you will have you'll be business. And you will have you'll be the client essentially. the client essentially. the client essentially. But instead of paying me to do this, But instead of paying me to do this, But instead of paying me to do this, we'll do this in percentages. So, we'll do this in percentages. So, we'll do this in percentages. So, that's how I I would pitch it so that that's how I I would pitch it so that that's how I I would pitch it so that um we're this is not a partnership. This um we're this is not a partnership. This um we're this is not a partnership. This is a uh uh a a business and client is a uh uh a a business and client is a uh uh a a business and client relationship. Because those are much relationship. Because those are much relationship. Because those are much more easily separated.

more easily separated. more easily separated. So, that kind of leads into number four, So, that kind of leads into number four, So, that kind of leads into number four, which is who makes the final decisions. which is who makes the final decisions. which is who makes the final decisions. You need to understand and be very clear You need to understand and be very clear You need to understand and be very clear about who makes the final decision. about who makes the final decision. about who makes the final decision. Because if they come at to the idea, and Because if they come at to the idea, and Because if they come at to the idea, and their idea is two sentences long, which their idea is two sentences long, which their idea is two sentences long, which is very common. is very common. is very common. There's a lot of work that has to be There's a lot of work that has to be There's a lot of work that has to be done to flesh out that idea. done to flesh out that idea. done to flesh out that idea. And at some point, And at some point, And at some point, the two of you are going to disagree the two of you are going to disagree the two of you are going to disagree about about about where which direction to go with one of where which direction to go with one of where which direction to go with one of those fleshed out points. those fleshed out points. those fleshed out points. Who makes the final call? It can't be an Who makes the final call? It can't be an Who makes the final call? It can't be an equal partnership. equal partnership. equal partnership. Again, Again, Again, partnerships are problems, and you've partnerships are problems, and you've partnerships are problems, and you've got to have a clear pecking order where got to have a clear pecking order where got to have a clear pecking order where you say, "This person's in charge. you say, "This person's in charge. you say, "This person's in charge. This person makes the final call." This person makes the final call." This person makes the final call." And usually it's the person who has the And usually it's the person who has the And usually it's the person who has the most to gain or lose most to gain or lose most to gain or lose based upon based upon based upon making that call. So, making that call. So, making that call. So, that's that's that's important to know up front. Number five, important to know up front. Number five, important to know up front. Number five, is there a market for this product?

is there a market for this product? is there a market for this product? It does not matter how great the product It does not matter how great the product It does not matter how great the product is. It does not matter how cool the idea is. It does not matter how cool the idea is. It does not matter how cool the idea is. It does not matter if it solves all is. It does not matter if it solves all is. It does not matter if it solves all kinds of problems. kinds of problems. kinds of problems. If there's not a market for it, or if If there's not a market for it, or if If there's not a market for it, or if you can't get to that market, if you you can't get to that market, if you you can't get to that market, if you can't prove that you can get to that can't prove that you can get to that can't prove that you can get to that market, market, market, it's just not going to be valuable. it's just not going to be valuable. it's just not going to be valuable. If you ever want to kind of prove this, If you ever want to kind of prove this, If you ever want to kind of prove this, go to the App Store. Go to the Android go to the App Store. Go to the Android go to the App Store. Go to the Android App Store or the the iOS App Store and App Store or the the iOS App Store and App Store or the the iOS App Store and look through not the the the home page, look through not the the the home page, look through not the the the home page, not the the top 50 page of games or not the the top 50 page of games or not the the top 50 page of games or apps. apps. apps. Do a search and search for basically any Do a search and search for basically any Do a search and search for basically any topic and then just scroll through all topic and then just scroll through all topic and then just scroll through all of the options because you will find of the options because you will find of the options because you will find that there are lots of solutions. Search that there are lots of solutions. Search that there are lots of solutions. Search a simple one, to-do list. a simple one, to-do list. a simple one, to-do list. Figure out how many apps do to-do lists. Figure out how many apps do to-do lists. Figure out how many apps do to-do lists. And there's going to be some big market And there's going to be some big market And there's going to be some big market players in there, too, where they have players in there, too, where they have players in there, too, where they have word of mouth, they have major word of mouth, they have major word of mouth, they have major advertising budgets and all the rest, advertising budgets and all the rest, advertising budgets and all the rest, and they can kind of force their way to and they can kind of force their way to and they can kind of force their way to the front of the line in front of little the front of the line in front of little the front of the line in front of little old you has old you has old you has basically no marketing budget.

basically no marketing budget. basically no marketing budget. So, is there really an app a market for So, is there really an app a market for So, is there really an app a market for this product and can you make a dent in this product and can you make a dent in this product and can you make a dent in that market? Can you get in front of that market? Can you get in front of that market? Can you get in front of people and say, "Yes, this is more people and say, "Yes, this is more people and say, "Yes, this is more valuable." and have them say, "Yes, I valuable." and have them say, "Yes, I valuable." and have them say, "Yes, I want this product over all the hundreds want this product over all the hundreds want this product over all the hundreds or thousands of other products on the or thousands of other products on the or thousands of other products on the market." There are thousands of apps market." There are thousands of apps market." There are thousands of apps that have that have that have one or fewer users. one or fewer users. one or fewer users. There are thousands of apps that have There are thousands of apps that have There are thousands of apps that have never been downloaded by an actual user never been downloaded by an actual user never been downloaded by an actual user other than the actual owner. Not every app succeeds just because it Not every app succeeds just because it got to the App Store. got to the App Store. got to the App Store. You need to have a plan for marketing You need to have a plan for marketing You need to have a plan for marketing it. And it. And it. And you know what? If you don't have a you know what? If you don't have a you know what? If you don't have a market for it or if you can't figure out market for it or if you can't figure out market for it or if you can't figure out how to break in, you probably won't how to break in, you probably won't how to break in, you probably won't succeed with that app. succeed with that app. succeed with that app. Number six, and this kind of goes along Number six, and this kind of goes along Number six, and this kind of goes along with this, with this, with this, what would be the outcome what would be the outcome what would be the outcome if the app failed? if the app failed? if the app failed? So, you put in this work. You decide, So, you put in this work. You decide, So, you put in this work. You decide, yes, we're going to do this. You build yes, we're going to do this. You build yes, we're going to do this. You build this app, whatever it is, a web app, or this app, whatever it is, a web app, or this app, whatever it is, a web app, or if it's a desktop app, or if it's a if it's a desktop app, or if it's a if it's a desktop app, or if it's a mobile app, or whatever it is, game.

mobile app, or whatever it is, game. mobile app, or whatever it is, game. You build this thing. And you spend, you You build this thing. And you spend, you You build this thing. And you spend, you know, you estimate how much time you're know, you estimate how much time you're know, you estimate how much time you're going to spend. Let's say you're just going to spend. Let's say you're just going to spend. Let's say you're just going to spend 6 months on this. You going to spend 6 months on this. You going to spend 6 months on this. You spend 6 months on it. Your partner in spend 6 months on it. Your partner in spend 6 months on it. Your partner in the meantime has built up a a a a the meantime has built up a a a a the meantime has built up a a a a marketing campaign and worked on that marketing campaign and worked on that marketing campaign and worked on that and hired, you know, contractors to and hired, you know, contractors to and hired, you know, contractors to design flyers or whatever they're going design flyers or whatever they're going design flyers or whatever they're going to do, and you've gone through the to do, and you've gone through the to do, and you've gone through the process, and at the end of it, you have process, and at the end of it, you have process, and at the end of it, you have five users. five users. five users. Okay? Okay? Okay? What happens then? What happens then? What happens then? Is that going to be devastating to you? Is that going to be devastating to you? Is that going to be devastating to you? Because if the answer is yes, Because if the answer is yes, Because if the answer is yes, you're gambling. You're not actually you're gambling. You're not actually you're gambling. You're not actually doing good development. doing good development. doing good development. This is a This is too much of a gamble. This is a This is too much of a gamble. This is a This is too much of a gamble. So, you need to know, can I So, you need to know, can I So, you need to know, can I make it if this does not succeed? Don't make it if this does not succeed? Don't make it if this does not succeed? Don't look at, you know, the the top app in look at, you know, the the top app in look at, you know, the the top app in the category and go, oh, you know, this the category and go, oh, you know, this the category and go, oh, you know, this app just sold for a million dollars, or app just sold for a million dollars, or app just sold for a million dollars, or this app just has 500,000 users. Look at this app just has 500,000 users. Look at this app just has 500,000 users. Look at the apps that have five users. the apps that have five users. the apps that have five users. Could you survive if that's the case?

Could you survive if that's the case? Could you survive if that's the case? Are you putting too much money and too Are you putting too much money and too Are you putting too much money and too much effort into this? much effort into this? much effort into this? Or are you saying, you know what? I can Or are you saying, you know what? I can Or are you saying, you know what? I can take a chance. I can I can put a little take a chance. I can I can put a little take a chance. I can I can put a little bit of money in this, and it won't hurt bit of money in this, and it won't hurt bit of money in this, and it won't hurt me. I can put some time in this, and it me. I can put some time in this, and it me. I can put some time in this, and it won't hurt me. And if I get nothing else won't hurt me. And if I get nothing else won't hurt me. And if I get nothing else out of it, I have a good portfolio out of it, I have a good portfolio out of it, I have a good portfolio project, right? project, right? project, right? If that's the case, cool. Go for it. If that's the case, cool. Go for it. If that's the case, cool. Go for it. Number seven, Number seven, Number seven, do I have the experience necessary to do I have the experience necessary to do I have the experience necessary to build this type of app? build this type of app? build this type of app? It takes a lot of work to build new It takes a lot of work to build new It takes a lot of work to build new things. And often you'll find that things. And often you'll find that things. And often you'll find that there's a lot more to different areas there's a lot more to different areas there's a lot more to different areas that you haven't done than you thought that you haven't done than you thought that you haven't done than you thought initially. Um, initially. Um, initially. Um, you know, example of this, simple you know, example of this, simple you know, example of this, simple example, might be maybe you've never example, might be maybe you've never example, might be maybe you've never dealt with authentication before. dealt with authentication before. dealt with authentication before. That can be a big hurdle because not That can be a big hurdle because not That can be a big hurdle because not just slap a username and password in just slap a username and password in just slap a username and password in front of that. How do you do password front of that. How do you do password front of that. How do you do password resets and how do you do resets and how do you do resets and how do you do locked out users and how do you do uh locked out users and how do you do uh locked out users and how do you do uh lost passwords and so many other things? lost passwords and so many other things? lost passwords and so many other things? How do you do two-factor authentication? How do you do two-factor authentication? How do you do two-factor authentication? There's tools out there for that. But, There's tools out there for that. But, There's tools out there for that. But, that's a simple example of if you that's a simple example of if you that's a simple example of if you haven't done it before, haven't done it before, haven't done it before, that's going to be a bigger hurdle, that's going to be a bigger hurdle, that's going to be a bigger hurdle, learning how to do it first and then learning how to do it first and then learning how to do it first and then implement it in your app.

implement it in your app. implement it in your app. So, do you have the experience necessary So, do you have the experience necessary So, do you have the experience necessary to build this type of app? to build this type of app? to build this type of app? Because sometimes that just means it's a Because sometimes that just means it's a Because sometimes that just means it's a bigger unknown which expands your bigger unknown which expands your bigger unknown which expands your timeline and your expenses. timeline and your expenses. timeline and your expenses. Number eight, is this app reliant on Number eight, is this app reliant on Number eight, is this app reliant on things outside of your control? things outside of your control? things outside of your control? This is one field that often think This is one field that often think This is one field that often think about. Um, a big one right now is AI. about. Um, a big one right now is AI. about. Um, a big one right now is AI. Let's just say you decide I'm going to Let's just say you decide I'm going to Let's just say you decide I'm going to create a an AI chatbot, which don't do create a an AI chatbot, which don't do create a an AI chatbot, which don't do that. That's just a wrapper for ChatGPT. that. That's just a wrapper for ChatGPT. that. That's just a wrapper for ChatGPT. But, let's say you create this wrapper But, let's say you create this wrapper But, let's say you create this wrapper for ChatGPT that's somehow different or for ChatGPT that's somehow different or for ChatGPT that's somehow different or better. You you put a prompt in there better. You you put a prompt in there better. You you put a prompt in there that makes the AI talk like a pirate. that makes the AI talk like a pirate. that makes the AI talk like a pirate. Okay, whatever. Okay, whatever. Okay, whatever. You're reliant now on ChatGPT. You're reliant now on ChatGPT. You're reliant now on ChatGPT. Which means that if they decide to Which means that if they decide to Which means that if they decide to change their API, you're in trouble. Or change their API, you're in trouble. Or change their API, you're in trouble. Or if they decide to raise their rates, if they decide to raise their rates, if they decide to raise their rates, which they have done, which they have done, which they have done, you're in trouble. you're in trouble. you're in trouble. So, is your app reliant on things So, is your app reliant on things So, is your app reliant on things outside of your control?

outside of your control? outside of your control? One that that I would love to do is, you One that that I would love to do is, you One that that I would love to do is, you know, I play fantasy football. I just know, I play fantasy football. I just know, I play fantasy football. I just did my draft recently. Um, did my draft recently. Um, did my draft recently. Um, can't tell you when my this video's can't tell you when my this video's can't tell you when my this video's being recorded. But, um, being recorded. But, um, being recorded. But, um, I love fantasy football and I love the I love fantasy football and I love the I love fantasy football and I love the idea of getting that data and doing idea of getting that data and doing idea of getting that data and doing different things with that data. Maybe different things with that data. Maybe different things with that data. Maybe not a fantasy football app, but not a fantasy football app, but not a fantasy football app, but something different. The the is, that something different. The the is, that something different. The the is, that data, I'd be completely reliant on data, I'd be completely reliant on data, I'd be completely reliant on different company providing it to me. different company providing it to me. different company providing it to me. What if they decided to go out of What if they decided to go out of What if they decided to go out of business? Does my app go away? That business? Does my app go away? That business? Does my app go away? That could be a real risk. And is it a risk could be a real risk. And is it a risk could be a real risk. And is it a risk I'm willing to take? So, is your app I'm willing to take? So, is your app I'm willing to take? So, is your app reliant on things that are outside of reliant on things that are outside of reliant on things that are outside of your control? your control? your control? Number nine, Number nine, Number nine, do we know enough about this field? do we know enough about this field? do we know enough about this field? One of the benefits here is if your One of the benefits here is if your One of the benefits here is if your friend is pitching you an idea, friend is pitching you an idea, friend is pitching you an idea, sometimes, not always, but sometimes, sometimes, not always, but sometimes, sometimes, not always, but sometimes, they know a lot about the field and know they know a lot about the field and know they know a lot about the field and know where a gap is. And they can pitch the where a gap is. And they can pitch the where a gap is. And they can pitch the idea for how to fill that gap. idea for how to fill that gap. idea for how to fill that gap. But maybe they don't know quite enough But maybe they don't know quite enough But maybe they don't know quite enough about the field. And again, about the field. And again, about the field. And again, Dunning-Kruger raises its ugly head, and Dunning-Kruger raises its ugly head, and Dunning-Kruger raises its ugly head, and they might think they know, or you might they might think they know, or you might they might think they know, or you might think you know, enough about the field think you know, enough about the field think you know, enough about the field when you don't have any experience at when you don't have any experience at when you don't have any experience at all in the field.

all in the field. all in the field. And that's a big risk for your app, And that's a big risk for your app, And that's a big risk for your app, because you're going to build something because you're going to build something because you're going to build something that that that isn't going to actually work well. isn't going to actually work well. isn't going to actually work well. So, So, So, make sure you know enough about the make sure you know enough about the make sure you know enough about the field to actually understand what the field to actually understand what the field to actually understand what the users really want. users really want. users really want. Number 10, Number 10, Number 10, can I get a proof of concept to market can I get a proof of concept to market can I get a proof of concept to market fast enough? fast enough? fast enough? Maybe app's going to take a year to Maybe app's going to take a year to Maybe app's going to take a year to build. But can you get a proof of build. But can you get a proof of build. But can you get a proof of concept out to the market in 3 months? A concept out to the market in 3 months? A concept out to the market in 3 months? A beta version or something that you can beta version or something that you can beta version or something that you can put in front of users and make sure you put in front of users and make sure you put in front of users and make sure you validate the idea. validate the idea. validate the idea. Can you build a a sample app that Can you build a a sample app that Can you build a a sample app that doesn't actually work, but can you kind doesn't actually work, but can you kind doesn't actually work, but can you kind of walk people through so that you can of walk people through so that you can of walk people through so that you can understand if it's even valuable? If understand if it's even valuable? If understand if it's even valuable? If it's going to be valuable enough, and if it's going to be valuable enough, and if it's going to be valuable enough, and if people are saying, "Yes, take my money." people are saying, "Yes, take my money." people are saying, "Yes, take my money." or if you're like, "Yeah, it's cool. I or if you're like, "Yeah, it's cool. I or if you're like, "Yeah, it's cool. I might I might use that if it's free." might I might use that if it's free." might I might use that if it's free." Like, that's a big difference, and the Like, that's a big difference, and the Like, that's a big difference, and the sooner you know that, the better.

sooner you know that, the better. sooner you know that, the better. So, it's perfectly fine to have a clear So, it's perfectly fine to have a clear So, it's perfectly fine to have a clear no app ideas policy for people where you no app ideas policy for people where you no app ideas policy for people where you auto reject every idea they have. auto reject every idea they have. auto reject every idea they have. Some people do that. Because, you know Some people do that. Because, you know Some people do that. Because, you know what? It's just you get inundated what? It's just you get inundated what? It's just you get inundated sometimes with the amount of things that sometimes with the amount of things that sometimes with the amount of things that people want to do. people want to do. people want to do. But, people with experience in industry But, people with experience in industry But, people with experience in industry know where the gaps are and what might know where the gaps are and what might know where the gaps are and what might fill them. Every once in a while, you're fill them. Every once in a while, you're fill them. Every once in a while, you're going to come across a really good idea going to come across a really good idea going to come across a really good idea that could have a big impact. that could have a big impact. that could have a big impact. Just make sure that your friend has Just make sure that your friend has Just make sure that your friend has contacts in the industry for marketing contacts in the industry for marketing contacts in the industry for marketing the app. And the idea is sound and that the app. And the idea is sound and that the app. And the idea is sound and that you're prepared to take on this app. Go you're prepared to take on this app. Go you're prepared to take on this app. Go through the list of 10 questions to through the list of 10 questions to through the list of 10 questions to ensure ensure ensure that you're giving this decision the that you're giving this decision the that you're giving this decision the proper evaluation before committing to proper evaluation before committing to proper evaluation before committing to it being a possibility. it being a possibility. it being a possibility. Now, just remember that once you say Now, just remember that once you say Now, just remember that once you say yes, you have an even bigger list of yes, you have an even bigger list of yes, you have an even bigger list of tasks to undertake. This list is not tasks to undertake. This list is not tasks to undertake. This list is not about what to do once you say yes, about what to do once you say yes, about what to do once you say yes, because that list includes creating a because that list includes creating a because that list includes creating a business, drawing up contracts, getting business, drawing up contracts, getting business, drawing up contracts, getting legal counsel, and a lot more.

legal counsel, and a lot more. legal counsel, and a lot more. Saying yes is a lot of work. Saying yes is a lot of work. Saying yes is a lot of work. But, it can be rewarding. But, it can be rewarding. But, it can be rewarding. Just make sure you pick the right Just make sure you pick the right Just make sure you pick the right opportunity before saying yes. opportunity before saying yes. opportunity before saying yes. Thanks for listening. As always, I am Thanks for listening. As always, I am Thanks for listening. As always, I am Tim Corey.