From a product idea to funding with Allcancode

The journey from idea to funding with Allcancode as a partner.

From a product idea to funding with Allcancode

At Allcancode, we help founders bring their new product ideas to the market and raise funding. Our lean approach, tools that minimize time and cost, and our online time/cost estimator powered by AI are all in that direction.

However, we soon realized that even a budget of $5K-$8K to bring an MVP to life is beyond the capacity of many founders, especially when they are early in their customer discovery journey and their access to funding is limited.

We also noticed how anxious you are to get a tech co-founder on board, which is difficult nowadays but not necessarily a prerequisite to success in the early stages. There is a blog post explaining why you don't need one.

Therefore, we developed a step-by-step approach (on the foundation of Steve Blank's The Startup Owner's Manual) that enables you to go through as many iterations as possible with customers while keeping your budget low. As you get more feedback and market validation, you become more confident about your product and its value to your customers; therefore, you can unlock the next level of funding and proceed:

  • Business model hypothesis: in this stage, you define your market, your customer, the problem you are trying to solve, your solution, and the model that can lead to a successful and scalable business.
  • Test the problem: in this stage, you test with potential customers to ensure that you have understood all the parameters of their problem and that it is crucial for them to seek an alternative solution. A prototype of your MVP would help you prepare for the next stage. It can be a mockup, not the actual product. We can definitely help you with that.
  • Test the solution: in this stage, we will build a functional MVP that you can rapidly evolve over several iterations as you validate that it meets your customers' needs and delivers value they are willing to pay for.
  • Verify the model: in this critical stage, you will validate that the product and the whole model work and will lead you to a profitable and scalable business. You will decide whether to scale or pivot based on the outcome. A pivot requires revisiting the business model hypothesis. We will support you through all your iterations as you refine your product to better server your customers.

We have a new page (work in progress) explaining all those stages in detail.

Regarding an indicative budget and possible sources of funding for each stage, here is a handy table:

StageBudgetFunding sources
Business model hypothesis$0Bootstrapping
Test the problemfrom $500Bootstrapping, friends & family
Test the solutionfrom $4,000Friends & family, angel investors
Verify the modelfrom $10,000Angel investors, accelerators, pre-seed VCs

Feel free to book a call with us to find out how we can help you build your product and succeed step-by-step.

At Allcancode, we're committed to helping startups get their products to the market in weeks while empowering them with the best resources and insights. If you found this post valuable, please consider sharing it with your network. Let's grow together!

Photo from Unsplash

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