We are a food discovery startup which tells its user the best dishes to have in a restaurant. The initial growth and retention for us has been quite low and we have not been able to make a single $ in revenue yet. From the initial customer interviews, we were quite optimistic that the product has great potential, however, things are turning out to be opposite of what we anticipated. At what stage should we take the business decision to continue/discontinue the product?
What you didn't explain was your model for making revenue.
Who is your customer?
Is it the end users...or paid advertisers? The restaurants? A third party?
I wonder if you've thought this through.
Loads of people have this SaaS idea...they dump resources into creating it. But why didn't they line paying customers up FIRST?? I don't get the mentality. It's backwards. You prove the thing is viable first; then you develop it. Why people persist in doing the opposite baffles me.
Answered 6 years ago