CoVenture Development

NoonRock has developed a new methodology for payment and implementation of web application development.  We call it CoVenture Development.  The idea deviates greatly from traditional development methods.  It aims to share the risk of the development project between both you, the client, and NoonRock, the developer.

Traditional Development

In traditional development schemes, the client receives a project quote require a deposit before commencement of the project or in some instances may commence the project on an hourly basis.  The incentive of the developer to complete the project on time and correctly is based solely on the prospect of the remaining project balance.  In the case of the hourly basis, what is the incentive of the developer to complete the project in a timely fashion?  The developer could easily take to long to develop the application and leave the client frustrated and confused.  The client is then left without their deposit and still doesn’t not have their application, they have wasted time and money.  As you can see, the risk is with client.

The cost over time graph below shows how a typical traditional development project, fully-completed, generally plays out. 

traditional-method

 

How Does It Work?

The keyto CoVenture development is providing incentive for the developer to complete the project in a timely fashion and to maintain it and make sure it is the best possible application.  The idea is…drum roll please…REVENUE SHARING.  Consider this, if we don’t get paid until the application is completed and we can earn more on the project by marketing and promoting it through my channels. Do we have an incentive?  Sharing the risk is the result of this idea. 

The nature of the best provides a tremendous benefit to those who are just starting out and have no expertise is the minimal out-of-pocket expense for the development.  For example, with the traditional method upon completion of a project it may cost $10,000 for the complete project, before you have made a dime from the rolling out the site.  However, the CoVenture method, the development costs come after you earn the money.

The CoVenture Development process can be summed up in the following steps:

  1. Design project with client.
  2. Obtain payment for hosting and domain name registration and deposit based on term of CoVenture Agreement.
  3. Develop application.
  4. Approval by client of requirements met and initial project completion.
  5. Role out application to the world. (Marketing)
  6. Collect revenues.
  7. Share revenues with NoonRock.
  8. NoonRock maintains and markets the application.

coventure-method

What’s The Catch?

The catch is in the term of the CoVenture Agreement, meaning the length of the development and maintenance period.  NoonRock is a profit organization and the intent is to earn money.  Why would we subject ourselves to this risk?  The answer is long-term profits.  We are not a fly-by-night web development shop.  We have been providing application development services for over 9 years.  We are here to stay and one of the methods we are using is to develop a long-term customer base.

In the long term, in most cases, we will make more than if we would have used the traditional development method.  It will be over a longer more sustained period and we have all the incentive to make sure your venture is successful, because when you get paid – we get paid.

Not All Projects Are Created Equal

The truth is we use the Traditional Development ideology occasionally, because not every web application or site is a candidate for CoVenture Development.  Good candidates are applications or sites that have the following characteristics:

  1. They must make money.  E-commerce sites or applications that provide utility are good candidates.  If you have an idea for the next Twitter, don’t call. However, if you have an idea for the next eBay, please call now!
  2. Must be a web application or web site – I hope that has been clear.
  3. Must collect payments online.

Who Does What?

Responsibilities

 

NoonRock

Client

 

Who owns the web application?   check24
Who pays for the marketing, including PPC, email marketing, logo design, and banner design?   check24
Who manages the paid online marketing efforts, including PPC? check24 check24
Who develops the web application? check24  
Who maintains the web application? check24  
Who pays for the domain name and hosting?   check24
Who designs the application functionality? check24 check24
Who provides the site/application and email marketing content?   check24
Who manages the non-paid online marketing efforts including SEO and affiliate marketing? check24  
Who completes the email marketing setup? check24

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    • NoonRock Software, Inc.
      330 South 100 East
      Fillmore, UT 84631
      435.743.6976
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