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Many startups haven't figured out monetization at the beginning, that's why they search for Product Market Fit. If you do MVPs properly, you won't have burned
by mathattack 10y ago
Many startups haven't figured out monetization at the beginning, that's why they search for Product Market Fit. If you do MVPs properly, you won't have burned much money on the way.
- disiplus 10y agosometimes its hard to do a MVP properly, and sometimes doing MVP and getting insufficient or wrong data is also the case. like, here are some people that showed interest in this feature, lets build it, and after you build it you see that you simply did not have enough data. like in A/B test if you stop it to early an you get some screwed data. we had some external company do a FB ads for our company, and indeed we did get a loot of new signups, but after examination we saw that all those signups where garbage. you really need to do it properly, and i dont think thats easy.
- rockarage 10y agoNot figuring out monetization at the beginning is a problem, typically leads to issues see "Inside Medium's meltdownMedium's meltdown", most smart founders have figured it out they are just being coy. If one of your monetization scheme involves selling your company you're not going to announce that to everyone. Monetization is not hard to figure out if you're solving a problem, having no strategic monetization plan early is poor strategic planning.