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So many red signals...where to start? Creator asks for feedback while simultaneously stating that he probably won't listen Creator got the idea to ask the 'ma

by pknight 14y ago

So many red signals...where to start? Creator asks for feedback while simultaneously stating that he probably won't listen Creator got the idea to ask the 'market' because a business mentor suggested it...not because there was an original interest in discovering a consumer problem big enough that people might pay for to solve. You're already dead set on creating your own 'dream software' in the way you see it. I think the most audacious thing is asking a bank or anyone for a 50k loan for a pet project that - by the sound of it - has no reliable indicator that it will be a commercial success. Definitely wouldn't pin my financial success on it. Why not continue to create what you want in your spare time and then when it reaches a mature enough stage show it to your target audience and see how they react. Are they blown away? Do they want it? Would they pay for it? Is it just a little bit better than existing solutions, or is it leaps better? Hope his business mentor gives this kool-aid drinking dude a wake up call.

mrschwabe 14y ago
Creator is relentlessly, passionately motivated to deliver a rock-solid product. Asking a bank for a $50k loan to fund a new business idea is perfectly legit. Sure, there is risk in market assumptions & potential flaws in the model. But that doesn't mean you have to wait for a functional version of the product or market validation in order to begin fundraising. It's your risk to take (and the lenders). That's how you make great strides in business: embracing risk. Besides that - if you're a seasoned, competent entrepeneur with proven success there is a good chance most of your assumptions may be correct. If not, pivots will be made - and nothing can stop the bull-headed determination of a passionately motivated creator ;)
- agscala 14y ago
  You're right, but why dive head first into something that is doomed for failure right from the get go? Sounds so very wrong to me.
  - mrschwabe 14y ago
    Front page of HN and hundreds of survey submissions in my inbox this morning tells me that this isn't necessarily doomed. Diving head first is a prerequisite of success.

by pknight 14y ago

mrschwabe 14y ago

Creator is relentlessly, passionately motivated to deliver a rock-solid product. Asking a bank for a $50k loan to fund a new business idea is perfectly legit. Sure, there is risk in market assumptions & potential flaws in the model. But that doesn't mean you have to wait for a functional version of the product or market validation in order to begin fundraising. It's your risk to take (and the lenders). That's how you make great strides in business: embracing risk. Besides that - if you're a seasoned, competent entrepeneur with proven success there is a good chance most of your assumptions may be correct. If not, pivots will be made - and nothing can stop the bull-headed determination of a passionately motivated creator ;)

agscala 14y ago
You're right, but why dive head first into something that is doomed for failure right from the get go? Sounds so very wrong to me.
- mrschwabe 14y ago
  Front page of HN and hundreds of survey submissions in my inbox this morning tells me that this isn't necessarily doomed. Diving head first is a prerequisite of success.