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IMO: Launching early saves you from building the wrong product. First version of BrainBankHQ.com was the wrong product. I found that out 2 weeks (48 hrs of dev

IMO: Launching early saves you from building the wrong product. First version of BrainBankHQ.com was the wrong product. I found that out 2 weeks (48 hrs of dev time) into the venture. v2 (current) is closer but still the wrong product (200+ hrs investd). v3 (in dev) will likely be the right/marketable product.

AndrewWarner 18y ago
That's fast. On the opposite end, I just talked to a co-founder of a VC-backed company who told me they took their funding and built a company in a vacuum. When they released, the product was a monster that couldn't be made into a prince. I'm planning to interview him about it but it's touchy because he doesn't want to hurt the investors or the company.
aaronblohowiak 18y ago
What are your key metrics? Is there a way to test the market without significant development time?
- melvinram 18y ago
  My key metric is simple: When i talk to potential customers, how ready are they to shell out money? My sales approach is very consultative and consists of asking lots of questions. It's usually clear whether BrainBank is right for them or not... both to me and them.
  - aaronblohowiak 18y ago
    Ah, I had assumed you would have had an automated sales process -- I didn't realize your sales channel would involve actually talking with your customers. I'm really intrigued by the idea of creating marketing campaigns and sites before you build the product, but I can see how that might not apply to your niche.
    - melvinram 18y ago
      Eventually, it may all be automated and online... but for now, I need real feedback.
whughes 18y ago
What about obligations to external parties, though? Family, VCs, employees, whatever -- one may not have enough leeway to fail on the first few shots. What was your situation?
- melvinram 18y ago
  No employees or VCs. Family doesn't care what I do as long it's what I want to do and gets the bills paid. They trust me to do the smart thing. I think quitting when you're only down by $100 at a casino is a smart thing.

AndrewWarner 18y ago

That's fast. On the opposite end, I just talked to a co-founder of a VC-backed company who told me they took their funding and built a company in a vacuum. When they released, the product was a monster that couldn't be made into a prince. I'm planning to interview him about it but it's touchy because he doesn't want to hurt the investors or the company.

aaronblohowiak 18y ago

What are your key metrics? Is there a way to test the market without significant development time?

melvinram 18y ago
My key metric is simple: When i talk to potential customers, how ready are they to shell out money? My sales approach is very consultative and consists of asking lots of questions. It's usually clear whether BrainBank is right for them or not... both to me and them.
- aaronblohowiak 18y ago
  Ah, I had assumed you would have had an automated sales process -- I didn't realize your sales channel would involve actually talking with your customers. I'm really intrigued by the idea of creating marketing campaigns and sites before you build the product, but I can see how that might not apply to your niche.
  - melvinram 18y ago
    Eventually, it may all be automated and online... but for now, I need real feedback.

whughes 18y ago

What about obligations to external parties, though? Family, VCs, employees, whatever -- one may not have enough leeway to fail on the first few shots. What was your situation?

melvinram 18y ago
No employees or VCs. Family doesn't care what I do as long it's what I want to do and gets the bills paid. They trust me to do the smart thing. I think quitting when you're only down by $100 at a casino is a smart thing.