People talk about "chances of success" as it was a lottery with binary output win (you are millionaire) vs lose (make no money and close).
Well this is false:
- Define success: these tiny one-man digital businesses ran from home have so little expenses that going profitable is infinitely easier than any traditional VC funded startups with offices and teams.
- Speed: this is counterintuitive, but true: a one man band can take decisions and, pivot, optimize, and iterate at least twice faster than any team (no meetings, no presentations, no democracy).
- Time: when you are profitable, maybe you're not rich yet, but you have time. Time to add value to the product day after day. And you will get better and better at it.
If you create a subscription based business, even if you fail for the whole year at improving your conversion rates (you won't), your yearly recurring revenue will grow linearly. Meantime, your expenses are still minuscule.
Well this is false:
- Define success: these tiny one-man digital businesses ran from home have so little expenses that going profitable is infinitely easier than any traditional VC funded startups with offices and teams.
- Speed: this is counterintuitive, but true: a one man band can take decisions and, pivot, optimize, and iterate at least twice faster than any team (no meetings, no presentations, no democracy).
- Time: when you are profitable, maybe you're not rich yet, but you have time. Time to add value to the product day after day. And you will get better and better at it.
If you create a subscription based business, even if you fail for the whole year at improving your conversion rates (you won't), your yearly recurring revenue will grow linearly. Meantime, your expenses are still minuscule.