The ideas behind lean start-ups are great
✅ Build some kind of MVP and get it out for review
✅ Customers test the product and report back
✅ Data is measured and turned into insights and improvements
There’s just one problem.
SAAS products cost quite a lot of money to build.
In fact, lots of money.
And I mean shitloads.
$100,000 MIGHT get you to market, but that’s hardly “lean”.
It doesn’t guarantee you’ll get traction either.
Or revenue for matter.
And success definitely isn’t guaranteed.
And once it’s spent, it’s gone. The bills from the day after launch will still need paying.
I KNOW from talking to many struggling entrepreneurs.
There are of course stories of the successful lean start-ups.
Slack and Dropbox come to mind.
But for every big winner, there are thousands of wrecks lining the SAAS highway, and they failed for a variety of reasons according to the data I can find.
But if there’s one common thread that holds them together it’s this.
Entrepreneurs didn’t invest in their ideas.
They didn’t seek partners and investors.
They didn’t hire advisers to help them avoid the pitfalls.
They instead tried to do it all on a shoestring budget.
So enough with the notions of lean.
It’s time to back yourself and your idea.
So why not swap some of your IP for someone else’s cash and experience.
There’s no prize for failing with style.