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How to intelligently use UI/UX Design Services to get the funds your tech-enabled Start-up requires?

  • Software Development
  • Software Outsourcing
  • Startups

17 May 2018

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You are an entrepreneur, you have a great business idea and you want to carry it out. Even though you have not implemented it yet, you know you have something valuable to offer. Despite this good scenario, you do not have the economic resources to finance your dream so that is why it is so important to intelligently use UI/UX Design Services.

What better way to show your tech-enabled Start-up than a working model of your App Development?

In this article, we will discuss how the four stages of the User Interface (UI) and User Experience (UX) of your App Development will improve the chances to sell your idea?

Let’s start by defining the difference between a Wireframe, Mockup, Prototype,  and MVP:

Wireframe

A wireframe is a low fidelity representation of a design. It should clearly show:

  • Main groups of content “The What”.
  • How to access information “The Where”
  • A basic visualization of the interface and interaction model “The How”

Consider Wireframes as the backbone of your design and remember that wireframes should contain every important piece of the final product.

Mockup

A mockup is a middle to high fidelity, static, design representation. Very often a mockup is a visual design draft or even the actual design. A well-created mockup should:

  • Represents the structure of information.
  • A visualization of the content and a demonstration of the basic functionalities in a static way.
  • Encourages people to review the project.

Now your web or mobile application has a UI.

Prototype

A prototype is a middle to high fidelity representation of the final product, It should demonstrate:

  • The experience between content and its interactions with the interface.
  • A working representation of the final product.

A prototype is a simulation of the final interface. It might not look exactly like the final product but should be as close as possible (it’s not a greyish, sketchy thing). Interactions should be modeled with care and have a significant resemblance to the final experience. Interdependence between interface and backend mechanisms is often omitted to reduce costs and speed up development cycles.

Now your web or mobile app has a UX or a least a shorter version of it.

Minimum Viable Product (MVP)

It is a basic and robust product with enough features to satisfy the initial customers, a testing ground for future development.

Entrepreneurs use MVPs to get feedback from real users or customers, but having spent the minimum necessary resources. Using an MVP approach instead of spending time building a full-featured product will allow you to:

  • Know whether or not your product can attract customers.
  • Plan the next stage of your product based on feedback and not only ideas from your internal team.

Now your web or mobile application has the UX and UI and is ready to be tested

Ok, know we can answer the question: How the four stages of the User Interface (UI) and User Experience (UX) of your App will give you a better chance to sell your idea to your investors?

At Teravision, we have worked with hundreds of entrepreneurs and many of them have successfully raised funds for their ventures. So, according to our experience, here are the six steps to get funding based on leveraging the UI/UX Design Services of your App.

  • Build your wireframes the way you imagine them and a list of features of your App.
  • Quote the development UI/UX Design Services for your wireframe, mockup, Prototype, MVP. Now you know the required investment to develop your project
  • Use your Wireframes to start raising money from Family and Friends. In our experience Angel Investors, VCs and Incubators do not pay attention to ideas on a wireframe stage, but we have seen entrepreneurs raising funds to build up to an MVP from close relatives just with wireframes on a napkin.
  • Use your initial funding wisely and start building Mockups, Prototype and MVP only with the most basic functionality required, so your budget will last as much as possible until you can open your next round of funding.
  • Once you reach your prototype level, it is time to fly high. Several of our entrepreneurs has raised money from Angels and Incubators at the prototype and MVP level. Now they see that you have a great idea, but now they want to know if your team can execute. Remember, they are not only investing in your idea, but they are also investing in your ability to launch it successfully.
  • Once you have your MVP launched and you already got “traction” (you can show that your App is being used by final users and your business model is clear, only then VCs will start paying attention to your project

Are you ready to start your dream, we at Teravision Tech have worked with hundreds of entrepreneurs in the US successfully helping them get funded with proper UI/UX Design Services.  Request a free no commitment quote and get it in less than a week.

  • Mobile App Development

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