I met up with a pretty well known Angel investor in town today. I thought I had a pretty good business plan and revenue model figured out. I even had a prototype of the GESTURES camera app to show him, so I was pretty excited.
But as he asked more and more questions about the project, I was having trouble answering some of them and made me question things myself:
- Even though GESTURES is an amazing and unique camera app that has potential to get millions of downloads, what stops other competitors from stealing our user interface?
- If we generate revenue by selling premium filters, how much would we be making a year?
- If we introduce new filters every season, what happens to the previous filters?
- If users decide to keep all of their previously purchased filters, will they end up having hundreds of filters?
Despite all these questions, he still seemed to like the project. I just had to come up with a better revenue model and plans to protect my intellectual assets.