Idea factory

2021-11-07 17:00:06 ​#StartupNews
Cappasity: 3D content is the future

Country: Russia
Total of investments: $7,4 million
Business model: software

Idea
The startup develops complex platforms for creating 3D content. Currently, the key product of the company is 3DShot. This is an app that enables users to take 3D photos of goods. The company offers businesses solutions for designing 3-D images of goods and their integration to the website. Besides, the startup develops AR technologies.

Background
Konstantin Popov is the founder of Cappasity. He used to do graphic design, develop websites and games. Over time, the localization of video games seemed more and more interesting to him. Therefore, in 2011, Konstantin decided to establish his own business — Biart Company. It specialized in selling and licensing 3D games and software products. The project turned out very successful — annual revenue reached $800,000.

In 2013, the market of games started to actively consolidate, which led Biart to customer loss. Konstantin was in two minds: to switch into developing games or keep risking their own products. He chose the third option — Konstantin dissolved the company and started a new business designing tools for 3-D content. That’s how Cappasity was created.

The first sales started in 2018. It was a very hard work — the company developed both platform and software product. Though the project interested many people, they didn’t sign any deal yet.

After surveying potential customers, Cappasity found out demand for turnkey products which would allow creating and integrating content. So that’s what the startup proceeded to develop.

Investments
Lately, Cappasity has raised $1 million, wherein its valuation amounts to $20 million. The company is intended to spend the funds on developing their inventions. It is also planning to attract large investments within a new funding round.

Prospects
The startup has truly grand aims. They scheduled a launch of a metaverse for 2022. Konstantin announced: ‘It’s high time we combined all the inventions and maintained more content formats. Business is ready to go into 3D. A new generation is looking for innovative formats. The audience of traditional brands is getting older.’

How do you feel about Cappasity’s concept? Is 3D content promising? Share your ideas in the chat Open / Comment

2021-11-07 12:20:00 ​#BusinessEducation
How to set smart goals

A correct aim setting — ground for successful business. Evidently, you are more like to accomplish more concrete goals. The point is the way you organize things and how well you understand what you need for this. The logic is simple: once you define an aim, you stop dreaming in the abstract. You start to regard recourses, formulate tasks, set deadlines, and design the desired result carefully. In other words, you get down to business.

SMART method
This is the best method for setting both short-term and middle-term goals. Each of the letters stands out for a particular criterion:

S – Specific
Formulate what you are eager to achieve more clearly. ‘I want to earn tons of money’ is a wrong aim. ‘I want to increase net income by 20% in 6 months’ is a correct one. 5W is a good way to make sure you have set a specific aim which meets your needs. Ask yourself the following questions:

- What exactly is necessary to achieve?
- Why do I want to achieve it?
- Who is engaged?
- Where is it held?
- Which requirements and limitations are there?

M – Measurable
Track the progress in achieving the aim. Otherwise, you will not understand how far you went and whether you actually move in the right direction. Set an interim reporting period and interim goal. Additionally, measuring progress motivates other workers. This way they can feel more responsible for their job and, subsequently, more willing to do it.

A – Attainable
There is no sense in setting obviously unachievable goals. It will only lower your self-esteem and demotivate employees. Think of whether your aim is actually achievable. Consider if you have all necessary resources, and whether the business will handle it. Set sub-aims to understand clearly.

R – Relevant
Estimate sound reasons to seek your aim. Analyze it thoroughly in terms of meaningfulness: whether you do need this or not. Consider of the aim is worthy, if it’s the right time, and if it complies with your ultimate goal.

T – Time-Bound
Set aims with a clear deadline. It helps better manage the process of accomplishing tasks within a global aim.

Once you made sure you set a SMART aim, don’t give up — keep following it. The results will be about what they should be.

Which criteria do you find the crucial one? Share in the comments below Open / Comment

2021-11-07 11:30:01 #ExpertTips
Hey, everyone!

Gleb Ganenko — an experienced graphic designer. He appreciates the importance of design thinking and is ready to teach you how to think creatively.

Today Gleb keeps speaking about Design Sprint: what solutions will satisfy your clients’ needs in the best way.

Check it out! Open / Comment

2021-11-06 21:24:34 #AskIdeaFactory

Tonight we are answering the most interesting questions from our subscribers!

Leon Rebelsky gives an answer to the following question:

How to know that idea which i got is already been pitched or it is already there in the market?

Check it out! Open / Comment

2021-11-06 20:35:45 IDEA FACTORY official pinned a video Open / Comment

2021-11-06 17:02:25 ​#BusinessEducation
Most common mistakes of business beginners

Doing a successful and lucrative business is easier said than done. In order to reach regular profit, optimal capital structure, and a sufficient number of assets, entrepreneurs have to put a much effort. Therefore, one of the main business rules is learn from others’ mistakes. Indeed, it’s better to be aware of possible mistakes and the ways of avoiding them beforehand.

Wrong aims
An aim is what guides you on your way to success. Hence, if you set wrong aims, you go in a wrong way. We have told you about what aims are considered wrong and why you should avoid them. So, read our article and set proper aims.

Take too much on
In the beginning, many entrepreneurs seek to do everything by themselves. However, it leads to lower productivity, professional burnout, and demotivation. Today’s rule is ‘delegate everything you can’.

Undoubtedly, at first you have to do a bunch of things on your own. Though as your startup grows, employ more workers who could be in charge of each particular thing. The more your business develops, the fewer responsibilities you should take on.

Procrastination
In the constantly developing business world you have to react very quickly. So it’s better to make a quick decision and save your time rather than thinking over it for a while. Maybe further you could change something but you won’t get the wasted time back. Thus, don’t lose the momentum.

No business plan
Inability to count finances leads companies to fail. That’s why you should keep financial records properly in order to successfully invest in your project. Unless you have a credible financial analyst, you have to gain insight how it works by yourself.

Security gaps
Information security and work safety don’t seem major essentials at the first sight. However, many entrepreneurs can get trapped this way. Your business idea itself is not a secret. Though the technology of your business is confidential information you should care about.

Believing on bare word
All agreements should be fixed in a written form. First of all, it concerns partners and staff. Frequently, after speaking and agreeing on something, things don’t work properly. People may misunderstand each other or forget about what they have agreed on. So put everything in your papers to prevent misunderstandings.

Which mistake have you made? Share in the comments Open / Comment

2021-11-06 15:56:53 ​Dear community!

We are grateful to each of you for your valuable ideas. So we do want you to grow with us further. Therefore, we strive to make the process of idea application as simple as ever.

This is our new bot @StartUpPitchbot

We have refined it to let you easily share your ideas with us. This is what you can do with the help of @StartUpPitchbot:

- submit your business ideas;
- receive all the necessary information;
- quickly address our support in case of any problems.

Hope it facilitates the process of applying and you love it Open / Comment

2021-11-03 18:17:34 #ExpertTips

Zach Gershon is one of our regular mentors who gives you his assistance throughout your way to the business dream.

Today he would like to speak about what startups actually mean and how they develop.

Check it out and feel free to give your comments on the video! Open / Comment

2021-11-03 15:30:53 #ElevatorPitch #WeeklyContest #PitchYourIdea

CLOUD FREELANCE by @WilliamElias6199

Idea:
Сreating a freelancing website and company in Africa.
The uniqueness of this idea is that it will be the first freelance work platform in Tanzania.
Also it will be the first freelancing platform to offer spots for entertainment industries: athletes and musicians to build up their careers

Problems:
- It will help keep individuals off the streets and focusing them on earning income
- i beleive there are many talents so this program will help connect them
- develop country’s economy as alot of people will be working and earning good income
- creating a generation of skilled individuals
- the program will act as a fair ground in acquiring competent workers as they will be screened without bias

Potential:
A pool that will offer work and allow companies to improve their work demands.

My idea has a huge market potential as what i am selling is a chance for people to fight for their lives and earn decent income Open / Comment

2021-11-03 14:30:09 #PitchYourIdea #WeeklyContest #ElevatorPitch

Digital Clinic by
@Yakamata Umar Musa

Idea:
An app, that people can pay to book an appointment with a licensed medical professional, will go a long way for them, where they can have a choice to share their problems physically, virtually or anonymously, records can be saved automatically as an end to end encryption for privacy.

Problems:
It’s difficult to talk about their health problems, some feel really ashamed to discuss their health, making millions dying slowly all around the world, some feel too lazy to go for a check up.

Potential:
This will go a long way in helping millions of people struggling in silence, or people running on a busy schedule to feed their family and keeping them from having time for a professional advice to keep them healthy.

With this medium we can help lower the number of people dying from different illnesses that mostly can be treated easily if consulted the right person. Open / Comment