Inapptics: Why being a solo founder and running side business is not a good idea
First time in Startup Wise Guys history we have a team from Armenia, and one of the rare times we have two female developers in a startup. Great to have Inapptics in the batch. Read some lessons learned from previous entrepreneurship experience of CEO Ashot and CMO Tigran.
I have started a company as a single founder and I do not recommend it. It is doable, but it will cost you a lot of leisure, health and family time.
Another common mistake founders make is having a side consultancy business or some other non-core activity that generates cash flow and helps to pay bills. Yes, of course, you need money to survive, that’s why having a side business seems to make sense, but it’s distracting. Building a product requires focus. I know it is hard to raise money, but at some point you have to make calls – are you in consultancy business or in a startup.
Important thing to keep in mind is to make sure to build a product that people are willing to use, that delivers value and people are willing to pay for it. Easier said than done. There are so many cases when a startup builds a product and then finds out that people do not want to buy it. Talk to your customers as early as possible, even if your product is nowhere near being ready. Let people see it, use it and touch it. And also make sure that your product is a “painkiller”, not a “vitamin”, as painkillers are must-haves and most successful products are something customers really need, not something that is simply a “nice to have”.
Inapptics helps app developers and designers visually analyze user behavior, identify issues and improve user experience. They have soft launched the product 3 weeks ago and are giving access to the first batch of customers. Team: Ashot Tonoyan, Tigran Hakobyan, Harutyun Hayrapetyan, Arpi Vanyan, and Ani Davtyan.