So, I'm creating software for cryptocurrency mining that will enhance the mining experience and help miners increase their efficiency and profits. I have released the "Alpha"/MVP to the community (~5,500 subscribers) and received some great feedback on it! I'm ready to expand the features and turn it into a real product, but my programming skills have taken me as far as I can get and I don't have the money to hire someone to help take it further.
The revenue model is a % of the amount of cryptocurrency mined, so it doesn't allow for preorders. I only generate revenue if I have users using it.
I'm in Southern California and stumped on how I can make this work. I've tried reaching out to my "programmer friends" but they all say they're too busy or just have no interest in it. Any ideas on how to move forward?
I faced a similar situation couple of years back and decided to take matters in my own hand rather than look ahead to crowdsourcing platforms or even close friends. I took courses in UX Design (from https://www.interaction-design.org), as well as improved my programming skills (I was a programmer back when I started). Now I work as a tech and design consultant for a tech company in my vicinity. Most of what I earn from my consulting goes into the product I am building. As a startup founder, I would rather bet on my own abilities than chase money outside. Hope that helps! Let me know if you need further guidance. I will be glad to share my contact details.
I'm going to come at this from a different angle. Firstly, well done on getting this far. Your product sounds quite clever. And you have 5500 subscribers. So i disagree, you've probably got a real product and just don't know it.
I think a lot of people mistake what an MVP is. An MVP is not just the product, but also must include fundamental parts of your wider business model. Otherwise all that happens is that you end up being a solution looking for a problem. Your adding of features isn't going to help. You have to figure out how you can generate revenue with what you've currently got.
So for example, if your revenue model is a % of some kind, from target customers who are miners of say bitcoin in the US, between the ages of 25-35. And your channel to market is the web, then part of your MVP must include a website that attracts your target customer to it and paying.
You say you have 5500 subscribers. Start there. Why are they not using and consequently paying you for what you've already built. If you can't answer that question with those users then i suspect that no amount of additional features by another programmer will change that. If they are asking for additional features before paying then, you don't have an MVP. There are 5500 subscribers, that is a community. If you have created a painkiller and not a vitamin, and that community has bought into your vision, then i'm convinced you should be able to go back to that "well". Figure out which ones of those will pay for using your product. Carefully analyse why your product is important to them, what problem you solve for them, and who they are. Your assumptions about the answer to those questions may well be different from theirs. Their opinion is what matters. Adapt your target customer persona based on that and then use your channel to market to find more of those. As more and more pay you, and you can afford it, add the features that expands your target customer set.
If this sounds like a long a$$ process then you'd be right. The grind is necessary in creating a long lasting sustainable business.
Hope that helps you look at the problem differently ... good luck :-)
If you're interested in recruiting developers, I would suggest you include the type of development for the existing components and the components yet to be implemented (web/back-end/embedded) and what languages/frameworks (Java, C, etc) you are using along with some kind of pitch. What do you see as the earning potential for the product and why? Why should a developer spend his/her weekends helping you? If you've pitched the idea to programmer friends, post that same info here.
It's a usual situation entrepreneurs find themselves in. You have a few options:
1. Get VC funding to get you to the next level. Funds will likely be used for development and then marketing
2. If you can't hire local S. Cali talent you can defer to companies with local management and offshore dev resources. With this option you will save more than half and likely get similar results as in house resources
If you go with option 2, you will likely be able to get your beta users feedback in and have a product which you can then present to VC's from option 1. Feel free to reach out to me to discuss... i am SF based and run a software dev company with partial specialization in crypto and blockchain. firstname.lastname@example.org or www.getcider.com
Hi Shane, well done on your early wins!
No BS, this is a TOUGH niche but, if you have the right concept, code and skin in the game then deeper understanding of the market demands could uncover some gold - excuse the competitive pun.
Ok, flick me all the details you have on your platform, a business plan and a dummy account so my developers can see what you're doing.
Thereafter, we will get back to you with 7 days with our recommendations,
I was curious to follow up on your progress, I'm sure we all are.
Are you really in need of some great programmers?
I, LayrCake offers a solution that automates the bulk of the software that you'd need to develop, minus your business logic, this maybe of some assistance to move you forward without the huge 'programmer' overhead.
Otherwise, would love to find out how you're doing.
Can you pm me with some details, interested in this as well and might be able to help.
Congrats on receiving such a response. There's still a lot to discover in crypto-currency. I'd suggest you to not to take any investors in, but focus on your friends/relatives/etc(technical person). If this doesnt work-out you can hire contractors on Platforms like Upwork to make it stable. You can find developers with inexpensive costs their. Have a look at this interview on indie-hackers: Vacayrx
For a start, you're much better off than most of us, you just don't seem to know it... you're in Southern California! so, at least you've got some sun!
I'm going to apologise first, because this may sound a little depressing, so I'm sorry dude!
Cryptocurrency mining? what made you get into this? something soo difficult.
You're going to go through the stages of depression if you try to continue in this direction, unless ofcourse you're a serious programmer and 'geek', who does it just because you can.
You're a good looking guy who I'm sure wants to meet good looking girls and 'have a life'... but from what I have read, e.g. https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064
It seems that this is an expensive, high risk, low reward business, unless of course you've really stumbled upon the solution to mining gold dust and have hit a gold mine.
I, myself, am an idiot... I'm good looking also, so meeting girls was always pretty easy; I'm a very good programmer and I wanted to do something hard. I sat down for years and built a product that writes software, simplifies the whole backend data access / transfer and business logic process. It's really good.
The problem is, that not many non-tech people know that there is a problem area here, and the tech people, well they're all in California, I'm in London.
Whilst, I have been labour intensively building this painful framework to solve, what I believe to be a big and possibly profitable business model, whilst building this, I have seen a guy with a simple idea of... Snap & Chat (SnapChat) turn into a multi-billionaire.
Snapping and Chatting are very popular things to do, as is, listening to music. So if you could turn Cryptocurrency mining into something that is fun and therefore popular, and cheap, then you'd have a great business.
So, you have to decide... do I want to be an entrepreneur or do I want to be a programmer?
Your 'friends', you don't have any friends! non of us really do; there are people that we meet up with, chat with and share life horror stories with, but this isn't an episode of Friends. No one helps anyone in life, anyone who does help anyone finds out that really, the person doesn't return the favour. If you want one of your programmer friends to help you, then you need to make a genuine trade (unless you're a college student, when you have no financial worries).
Other than all that I've said... I'd listen to Parvez... he has written the right kind of advice for you... a community of 5500 subscribers... you could try to sell them all a Wolf Mug... and then, you'd be an entrepreneur!
Yes check out https://github.com/