Having the business model from the start, so that you can actually make lots of money is really of utmost importance.
There is a clear difference between the new entrepreneurs and ones that old in the business.
I still recall our initial meeting in February 2018 where we filled a whiteboard with what this opportunity resembles. The young enthusiastic entrepreneurs persist that there were opportunities out there to make $3,000 and then another $6,000 for any unit we migrate to. I persisted that since neither of the other two founders ever worked in this specific industry segment, they needed to validate the business model. However, I started the creation of the online platform and apps.
Fast forward 10 months to a meeting in some weeks ago and after nearly a year of dragging their feet, they finally got some advisors with a few connections with some promise of equity who said that the revenue potential was actually closer to $300 and $600 for $800 and not $3, 000 and $6,000 for $8,000. Their revenue numbers were off by a factor of 15x. Their incompetence 26-year-old wannabe “Chief Executive Officer” had made the greatest mistake that many early time entrepreneurs make, they don’t know their actual numbers and their dream is not actualised in reality.
To worsen the matter as the first time Chief Executive Officer rather than concentrating on what matters he was busy paying for the 4th time in 10 months to have the logo redesigned to make the colour of it more “gender neutral” to attract more customers. That’s just a few nonsenses that the consultant sold him on. The reason you aren’t making money dumbass isn’t that your logo isn’t gender-neutral enough, it’s because you never managed to bring any reality to your revenue numbers quickly enough, alongside with a dozen other bush league nonsense mistakes you made.
Well, my dear, you burned me and that doesn’t come without a few serious penalties. Just hang on dear, the journey is about to get uneven.
Read Also: How to become a good logo designer