Imagine this: you’ve worked so hard to get your business idea out there. You thought you’ve got everything figured out, it seemed as if you were on the right track, you felt excited about becoming an entrepreneur and then…
Heck, how did that happen? You knew that nine out of ten startups fail, but you really believed you’re going to end up in the group of that fabulous 10% successful ones. Startups that are in the initial phase usually lack the guidance of experienced mentors and successful professionals. Everything’s new to you, you rely solely on trial and error and, if you’re lucky enough – you pick the right path once the burden of choice falls heavy on you.
However, entrepreneurs often get stuck because they cannot get the feedback they need so easily and as fast as it would be of use to them. Luckily, there is a way to connect with peers and those who already made it and shorten the process of getting it right.
Bevy.me is a social platform that aims to reduce the high startup failure rate. It was released in September 2016 by an IIT Bombay alumni. Designed for entrepreneurs and all those who are a part of the startup eco-system, the goal was clear: it is supposed to enable effective communication, instant exchange of ideas, and real-time advice from relevant experts regarding the future business steps you plan on taking or the current issues you’re struggling with.
Maybe you have a conflict with a co-founder? Or you don’t know how to handle the placement of your product? This sort of things can make you lose both your money and the motivation to continue pursuing your business dreams.
So, what exactly can Bevy.me do for you and your startup?
Connect With the Global Startup Community
Bevy app is a specialized social platform that has multiple amazing features. In case you need some help with the market analysis or you’re looking for an expert to professionally assess the potential of your idea, or assist you with the proper way of business execution – Bevy’s got you covered.
There are several options you can choose from when signing up to Bevy.me. You can sign up as an entrepreneur, as someone who wants to join a startup, as a mentor/investor, or as a service provider. It’s important to choose the correct profile for yourself (i.e. what you actually do or plan on doing) because your app experience will be customized accordingly.
Within the app, startuppers can post about the problems they’ve encountered and share their experiences with others. In addition, they can receive professional advice from fellow entrepreneurs who have already been through those business phases. The app is a unique communication channel where all enthusiasts can contribute while informing themselves about the latest resources and savvy business hacks.
Taking in mind the need and offering segment within the app, Bevy also functions somewhat like a job seeking platform as you can connect and communicate with people of different profiles, find the perfect teammate or a co-founder you’ve been looking for, or even find new office space for your business. In addition to startups, Bevy brings four crucial groups of people together:
- Job seekers
- Service providers
Startups can post their hiring requirements and give candidates an opportunity to instant message them about the job vacancies. This eliminates the recruiters out of the equation and creates a better fit between companies and job seekers.
Bevy can also help you seal the deal with your future clients or customers: with the growing base of users, it’s becoming easier to reach people who would be interested in purchasing your service or product.
All the decision makers, potential partners, and mentors in one place! The Bevy app might be pretty useful, don’t you think?
An Opportunity for Investors
According to the statistics provided by Fundivo which focuses on the U.S. market, the average equity received by angel investors in 2014 was 12.3%, while companies managed to raise an average of $328.500 for their companies. Needless to say, both sides have benefits from this type of cooperation.
So, investors and venture capitalists have something to look forward to: what better way to assess the phase of early traction than by directly communicating with startuppers? There is a segment within the app called Funding Requirement where startups can post their idea and seek for investors. Startuppers are expected to write a high concept pitch of their idea (50 characters, a single line sentence, something that defines your startup’s mission) and a short description (300 characters). Once they do that, investors will message them if they are interested in investing.
The fact browsing different business ideas is enabled repositions the usual dynamic of how the companies get funded. Pitching an idea to investors is a usual way of raising the initial capital, but here the first contact can be much less formal and perhaps – more productive, as the conversation is direct, can go back and forth, and is not as official.
Looking For a Mentor? Bevy Can Help
We all know mentors are important for those who are just plunging into the world of entrepreneurship. Having someone to learn from is valuable for inexperienced startuppers who have a great idea, but don’t know how to make it real: according to the statistics by Endeavor Insight, 33% of top-performing entrepreneurs were previously guided by some mentor.
In the near future, Bevy plans to get tech-heavy in its approach. We’re already in the process of building tools to affect Product/Market fit and we anticipate that it will go on to be really useful for the startup community.Mukesh Naraniya, CEO at Bevy.me
Mentors can have various shapes: from supporting peer groups to individuals who are experienced business gurus or actual programs – such as startup accelerators. Bevy app can be a valuable ally on your entrepreneurial journey as the growing network enables you create great connections.
If you’re seeking for an actual mentorship, you can post a Mentor Requirement after registering so that you let those who are willing to share their expertise know you seek guidance. In many cases, business enthusiasts need guidance as undirected passion can burn your company to the ground.
And remember we said advisors are also present on this social platforms? They can be of different roles: for example, a startup lawyer who has experience with networking and solving legal issues and formalities can join Bevy and offer their guidance through some of the processes. Newbies confused about certain aspects of their scaling businesses will certainly appreciate insider tips.
Current Position of Bevy App and Future Plans
Bevy app is currently available only for Android devices (4.4 and up), but the iOS version is on its way. As we mentioned, the app was released in September 2016, so it’s fairly new on the market and needs more time to spread. It has no in-app purchases and it can be used free of charge. The founders had in mind their target group (the entrepreneurs, specifically those who are just getting started), which is why they didn’t want to burden the users with any additional costs.
Truly a noble gesture of giving it back to the community!
Bevy currently has 3.8 star score on Google Play and the team is going back and forth with fixing bugs, removing issues, and improving functionality within the app. The idea is certainly worthy of admiration, but there are some of the technicalities that can still use some improvement. This is not a surprise as it is a new product brought to users with much enthusiasm. It has to got through some ups and downs until it reaches its stable phase, but the team seems to be working hard to better the app as they continuously seek feedback from the users.
There are currently between 1000 and 5000 installs and the latest update is from March. Users can now enjoy new features such as search functionality improvements, inbox UI enhancements, daily updates on the trending topics in the Menu bar, etc.
We’re looking to see in which direction will Bevy continue to grow. Undoubtedly, the idea has huge potential but the main two obstacles are the following. Firstly, it has to do a magnificent job at attracting new users in order for it to become an actual global partner. Secondly, it has to improve user experience so the speed and smoothness of the way it functions makes the newcomers stay.
What about you, startupper – will you make an account on the Bevy app? Give it a try!
Or maybe you have your own idea for the app that could make us connect easier or solve a problem entrepreneurs have been struggling for years? Count on .ME for the most unique domain on the web: check if your name is available here.