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Thanks for sharing this. I found these comments very helpful. A few thoughts from what I learned at my first company, and from someone possibly a bit more reven
by bsims 14y ago
Thanks for sharing this. I found these comments very helpful. A few thoughts from what I learned at my first company, and from someone possibly a bit more revenue minded.
-First, I recommend doing some personal strength tests such as the Gallup Strengthsfinder test. If you have a better idea what you are strong at, this may help how you approach solving the question of how to monetize things.
-Sales will not just appear, you'll likely have to email/call/meet/blog/do everything it takes to get the initial buyers group. I had no idea how to "Sell" something but I picked up a sales book, read it, put on a suit by myself in my apartment while I made sales phone calls (the suit was a confidence booster). Once you get the first sale everything gets easier...at least for a while until you hit Phase 2 which is too many people buying but that is a different Q&A.
-Have you thought about asking people or companies what they need, what XYZ would be worth to them, and then building it for them? This decreases your risk since they have already told you what they would buy. Make them pre-pay.
One of my favorite stories is of the entrepreneur who goes to a company and asks, "What product do you guys really need right now?" They inform the entrepreneur and he responds, "That's interesting, I make that!" He hadn't even built the product out but did it under their specifications. Once that was complete he went back to them and said, "What other product do you really need right now?" They informed him and he said, "I make that too." Thus started his business.