How high should the income be though? A few existing clients of mine were willing and did change to my platform, but how do you know if the business is scalable/will be competitive against other large businesses?
While helpful, I do believe these types of “rules” should not be followed as if they’re set in stone. Adapt them to your own situation.
In my case I had success with a fairly complex big data platform, there would be no way a version could be released in such short a time. This didn’t matter, as I followed a slightly different strategy.
A different way of looking at things is thinking about what can do wrong, and working back on trying to mitigate things. There’s a big, big difference in strategy you need to take if you need, say, a thousand paying clients in order to be “ramen profitable” vs one big client. I work in the latter space, and we managed to find a way for our first customer to partially fund the development of the platform, the money they would get back once the “monthly payments” would otherwise be arriving.
Totally different approach, but it’s one hell of a validation of an idea without taking on too much risk!
In my case I had success with a fairly complex big data platform, there would be no way a version could be released in such short a time. This didn’t matter, as I followed a slightly different strategy.
A different way of looking at things is thinking about what can do wrong, and working back on trying to mitigate things. There’s a big, big difference in strategy you need to take if you need, say, a thousand paying clients in order to be “ramen profitable” vs one big client. I work in the latter space, and we managed to find a way for our first customer to partially fund the development of the platform, the money they would get back once the “monthly payments” would otherwise be arriving.
Totally different approach, but it’s one hell of a validation of an idea without taking on too much risk!