Share this
Previous story
← Unlocking the IPO Part 2: Understanding the ProcessNext story
The Secret to Profits: Performance →Success is meeting a customer’s need. Too many think of success as having money, but that’s not true success. True success is having a product that meets customers needs, and a proven method for customers to pay for and consume that product.
So why do so many feel that their idea or business model is only valuable if they have raised money? Why put so much stock into what investors think about you, your business, or your product?
Consider these interesting points:
Raising capital is not meeting your customer’s needs. Raising $500,000 does not guarantee success. In fact, consider the potential tradeoff: you may spend the same amount of time acquiring $10,000 in customer subscription revenue as you would raising $500,000 in investment capital with no customer revenue by the time you’re finished. Which to you would hold a higher chance of success?
Customer validation is at the heart of success—keep your eye on the prize, and success will come.
These Related Stories