Questions

Pre-revenue, what metrics did you use to know that you are not starting an illusion? At what point did you decide to go to production/crowdfund/raise money etc.?

I started my second business which was a pre-paid telephone service and products to credit challenged customers.

To answer your question, after I researched to find that there was a market for my product, I also looked at is that market reachable? How would I be able to reach it effectively with my current limited budget.

At that point, to be completely honest, I had no idea. BUT, I decided to give it a shot. I then, created partnerships that did not require any money. I partnered with a business who also targeted my specific market. I began selling my product and services to those clients without it costing me any money.

I believe that big money should be used for investing in proven concepts so it is important that you do test and get some revenue as soon as possible. It will not only create a proven model, but will also prove it to yourself.

I would love to answer any more questions for you if you would like to set up a call. Good Luck!


Answered 9 years ago

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