In 2011, Hunter Gray turned his app idea into the capital needed in order to get the product built. In this episode of the podcast, he shares exactly how he pitched his idea for the original version of Klutch to investors, and how the venture capital world has changed in just a few short years. Not everyone will be able to turn their ideas into cash, but Hunter explains the methods that worked for him and talks about what might work for you, too.
There’s so much discussion of bootstrapping today (and for good reason, it works), but it’s nice to have a different perspective on building an app business. If you’re dying to get your app idea in front of investors, Hunter explains exactly what you need to do to make that interaction as successful as possible.
Here’s what we chat about:
- Narrowing down your idea into individual “points of friction”
- Why scheduling on mobile is particularly difficult and how Hunter turned it into opportunity
- The presentation that Hunter gave that attracted investors before he had a product
- What happens when you’re 70 percent done with development and realize you’re short on investor money
- What it takes to build a killer team that attracts investors
- Angel investors versus venture capital firms
- How a Series A funding round today is more like a Series B round of yesteryear
- When Hunter realized that he needed to scale back the calendar in a calendar-based scheduling app
- How planning get togethers and events have changed now that everyone has mobile phones
- Where the name “klutch” came from
- What made Hunter give up all the branding he had done for Atlas to rename it Klutch
- How Klutch got articles in the NY Times and Washington Post (among others) and featured in the App Store
- NEW: Hunter answers one of your questions! Ask your own question here.
- Hunter explains exactly how to pitch your app to investors if you want to raise money
- How investors are trading their money for your time
Links mentioned in this show include:
NEW: Ask a developer
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