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I've never been in this position so you can just throwaway my input if you want. Some questions: - You're burning through $60k/month. What are you spending i
by mattm 12y ago
I've never been in this position so you can just throwaway my input if you want.
Some questions:
- You're burning through $60k/month. What are you spending it on if you're getting no sales? Can you cut the expenses to just focus on the necessities?
- Your co-founder is not interested in the pivot. Why not? Does he see something you don't? Maybe your side project is only getting growth because it's free. If you could "very easily" add paid models, why not try that first to see if it actually works. If it does show some promise, then I think at that time, it would be better to approach your investors as you've at least validated it a little. I don't know what the side project is but is it legit? You talk about uploading files so perhaps people are using it in a way that might be a legal grey area?
> "I have a moral issue with making money on the side while my main startup is doing so poorly"
- I'll challenge you here and say that I don't think you do have a moral issue with this. After all, you started this side project while having this startup which took away time from it so you didn't have moral objections with that. That being said, the fact that you did go out seeking something else either tells me a) you're not good at focusing on one thing in which case a startup may not be a good path for you or b) you have an inclination that the startup is not going to work in which case you should get out of it. Unless I'm missing another possibility, both options point to the same conclusion - you want to leave the startup behind.
In that case, tell your investors and give them the option that they can put the remaining money into this side project or they can have the money returned.