Posted on April 23, 2009 - by Eric

MyMicroFund Proposal Tips

Following the great italian PROgrammer’s lead. Here are our tips and thoughts on how to pass a strong proposal for the MyMicroFund.com.

• Determine if you really need it. The fund is compatible with a certain scope of ventures.
• Have a clear vision on your project
• do a little SWOT (strength, weaknesses, opportunities, threats) analysis on your venture
• Believe in yourself enough to make anyone believe in what you plan to do.
• pratice the “anal” in analysis. analyze the market you are in to death. It really helps that you know how the market works even if its just on research.
• You should have a website running.
• Be communicative, what you see in your head cannot be glimpsed upon by others. Words is only enough if both you and the person you talk to understand what you are telling him. Use pictures, references or draw something up to get everyone one the same page in imagining anything.
• Have a worst case scenario exit/retry plan.
• Have some proof of your ability to execute, commit and finish projects.
• Be responsive and anticipate what might be in the head of the other person and address them beforehand.
• Be patient.
• The venture should be measurable and have clear metrics for success and failures.

Why did we get the fund?

Cavalcade Games is made up of two people, me and a skilled programmer. We both have families to support so we can’t just quit our day jobs. My partner has an inflexible working schedule and this left him just around  15-40 hours per week to work on projects. We were just one or two flash games away from being sustainable enough to try and compete in a market where we feel a bigger opportunity awaits us. The Iphone market <cue horror music>. We are fully aware of the challenges in that market but we believe in our abilities and the ideas we have lined up for the market. These ideas are 100% market conscious and user focused which we believe are major determinants of a successful app. We are timing our release on the  speculative debut of the 3rd gen iphone (around june – august) so hopefully that will help. MyMicrofund has accelerated our plans and that is truly important in getting to a white hot market like the Iphone platform.

How to submit your ideas.

Consider the following things;