Starting a Product: From Idea to Launch

1. Where to Start: The Big Picture

If You Don't Know How to Code

If you dont know how to code, I want you to think very carefully about whether or not you want to know how to code. It's an invaluable skill - easily the greatest skill I have acquired over the last 3 years - and will help you with much more than just building an AI product. So with that piece of unwanted advice - let get going.

Where Do I Learn?

If you're planning to build a software product but don't know how to code, the first step is to learn. Coding is a valuable skill that will make the process of creating your product significantly smoother. There are numerous resources available for learning to code, including online courses, coding bootcamps, and tutorials. Websites like Codecademy, Coursera, and freeCodeCamp offer a range of programming languages and are ideal for beginners.

If You Know How to Code

Planning a Product

If you're already versed in coding, the next step is planning your product. This involves several key stages:

  1. Problem Identification: What problem does your product solve?
  2. Solution Outline: How does your product address this problem?
  3. Methodology: Determine the approach or technology stack you will use.
  4. Unicorn Feature: Identify a unique feature that sets your product apart.
  5. Landing Page: Create a landing page to introduce and market your product.
  6. Platforms: Decide on which platforms your product will be available.
  7. Functionality and UI: Define the functionalities and user interface.
  8. File Structure and Functions: Plan the file structure and outline functions in natural language.
  9. Final Coding: Begin the actual coding process, turning your plans into a working product.

Forming Your Business

Once you have your product idea and plan in place, it's time to establish the business side of things.

Obtaining an EIN

An Employer Identification Number (EIN) is essential for any business. You can apply for an EIN online at the IRS website: Apply for an Employer Identification Number (EIN) Online.

Opening a Bank Account

Choose a bank that aligns with your business needs. For example, Chase is a popular choice for its business banking services. Ensure that the bank you choose offers the features and support necessary for your business operations.

Get an Account Software

Get QuickBooks. Learn how to use it. Keep expenses and things organized. You will thank me later.

Make your business a one-click-buy

In the event that your business actual makes money there is also a very real possibility that some day somebody may want to buy it. That means that you need to make sure that they can learn about your business and feel comfortable with purchasing it. You want this process to happen as quickly as possible. So in short, you want to be organized. And this will be helpful in many other ways too. All this is to say you need to establish a data room and keep it updated!

You can download a wonderful google drive template for a data room here.

For further insights and inspiration, I highly recommend the book by renowned creator Peter [Title of the Book]. This book offers valuable perspectives on creating and managing successful products and can be found at ReadMake.

In conclusion, starting a product involves a blend of technical knowledge, careful planning, and business savvy. Whether you're learning to code or already an experienced developer, the journey from idea to launch is filled with learning and growth. Remember to stay focused on your goal, be adaptable, and continuously seek knowledge and advice from experienced professionals and resources.