Generating Income
You can’t run a successful business without earning some kind of income.
One option is to delay revenue and put yourself in a constant cycle of acquiring funds. This will dilute your equity, control and take your focus away from what matters the most - the product.
The other is to create a functional product and have it generate revenue from the start. This will let your users fund your progress based on the value they are receiving and give you a sense of the actual market response.
New startup founders might feel that their product isn’t good enough to justify charging people money, but ironically, it’s having to pay for something which makes people value something more. A free product with ads is also generally perceived as lower quality.
As you start earning revenue, the market validation in the form of direct income will motivate you to improve your product. This will let you provide even further value to your customers and spark a feedback loop of continuous positive change.
In the spirit of following my own advice, Startup Flyby will now be offering a premium subscription. You can subscribe directly to access upcoming premium-only posts and help support firing my positive feedback loops. This will allow the publication to improve and evolve into its highest potential.
No Pressure, and thank you for reading! :)