So, this weekend the Dev Shop created Miss Nev for the E-Commerce Hack Day… and won. Check out this GigaOm article for details: http://gigaom.com/2012/08/06/miss-nev-apwants-to-recruit-local-businesses-to-help-receive-your-packages/.

Miss NevOur app helps you get packages when you’re not home and it drives more foot traffic to local businesses.  A few of the judges were VCs and our team was asked after the competition: so… are you all going to turn your app/hack into a real company?

When asked by a GigaOm reporter in my office yesterday after the hackathon, I deferred the question to my team. The answer was a resounding and unanimous “yes.”

But there’s a big difference between a company and an app. Our app needs a sales force to sign up merchants, an inventory management system, a customer acquisition strategy, and quite a few other things.

Really, when it comes down to the difference between an app and a real company, in my opinion, it’s all about the team around the app and the business model. Fortunately for us, we happened to have a former attorney, a web product manager from Conde Nast, a former financial analyst, a former marketing consultant, a graphic designer/UX pro, an innovation expert, some people in sales, and few other tricksters up the sleeves, so it looks like we’re going to try a company, but first…

One of our team members sent this out this morning… and it’s crucial. In order to turn your app into a startup, you have to fill out this (complements of @collaboracion):

Executive Summary
The Company
Recent Developments
Summary Financial Data

Business
Description of business
Type of business – what is your business? Status of business – start up?
Form of business – sole proprietorship, partnership, corporation
Names of owners
Hours of operation
Location
When was the business founded?
Mission Statement
Licenses needed

Products and Services
Be specific

Sales and Marketing Strategy
Target Market
Pricing strategy and Accounts Receivable Collection Process
Promotion
Distribution

Industry Overview
Outlook
Trends in your Industry
Competition
Who are they?
Strengths and Weaknesses
Competitive Advantage
Operations

Organization
Management (Attach resumes)
Personnel

Board of Directors


Financial Data
Financial Narrative

Cash Flow (be realistic)

Projected and Historical Financial Data Three-year summary
Balance sheet
Income projections (profit and loss statements)
Capital equipment and supply list

Funds required and their use, including cost of setting up, inventory, overhead, working capital, and personal living expenses.

Advertisements