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$10,000+ Spent On Developers.. 0 Return!

A topic related to SAAS or APPs

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mikecarlooch

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I wanted to bring together a discussion about this topic because it's so important, and there's likely many of us who've fallen to this fallacy and lost a lot of money in the process.

You're sitting at your job.

All of a sudden you get an idea for a business.

That idea totally riles you up and you're absolutely convicted that this idea is going to work.. No matter what!

So.. You start executing..

But not in the right way.

First, you reason "I see this problem happening, it's definitely a good idea!"
So.. you immediately log into Upwork and start searching for mock designers and full-stack developers.

You talk to a couple developers, and ask them if what you want done can be done.

They tell you "yes it definitely can!", and you get even more excited.. And even see this developer's ability to DO what you had in mind.. As proof of concept.

So you go to the mock-designer, spend $100 on a figma diagram, and then $500 to get a mockup design..

You feel like an entrepreneur.. you're innovating! You don't want this feeling to stop!

Pretty soon you're going to have an amazing product.. That you already KNOW people want because you reasoned with yourself that this is something YOU need!

The momentum keeps you going..
You get back the mock designs after a week, and then you go to your coder who tells you the project will cost $7,000 and one month to complete.

You deposit the $7,000 into your upwork account, sit back, and wait..

A month later, you have what you think.. is a KILLER product.. Your fastlane.. Your baby!

And on top of that, you're feeling like an entrepreneur because you went through this process of getting this innovative minimum viable product built, and now it's time to expose it to the mass of customers that you KNEW for sure.. Will buy your product!

Now that you've ran out of things to do, and things to wait for such as the developer asking you questions in order to complete the project - that feeling of being an entrepreneur kind of stalls..

You realize that the only thing you can do now is get people to give you money.

So for the first time, you start looking for congregations of your future customers in order to expose them to your market.

You post in an active group with 10,000 people... You have VA's send out e-mails to people.. You try running facebook ads..

Absolute silence..

You can't seem to get ANYBODY interested.

$1,000 spent on facebook. Not a single e-mail captured.

$700 spent on a reddit forum that congregates your target market. Zero emails captured.

You start to feel less and less like the "entrepreneur" you were feeling like when the developer was building your innovative product.

Now you're almost $10,000 in the hole (which was 40% of the money you had in your bank account).. And you don't have a single customer or even potential customer.

It turns out, the narrative you had in your head about how great this product was, was based on your personal opinion and your upwork developer's opinion of which he just tells you what you want to hear because.. he wants more of your money.

What is it that happened here? What is the mistake?

Well, you remember back to when you were beginning this project. You were reading chapter 40 of Unscripted which was explaining the 7 P's of process..

Plan.. Proof (soft) Process Path.. Prototype.. Proof (hard).. Productocracy.. Propagation

But.. Because you thought your idea was already so good and you could skip steps, you turned it into..

Plan.. Process Path.. Prototype.. Proof (hard).. Productocracy.. Propagation

What? Proof (soft) was my mistake?

"Wait.. Why the heck would I spend a bunch of money and time on ads, landing pages, group posts, etc "testing" my idea before having anything to give them.. It doesn't even feel real to me if I do that.. Plus what if nobody responds?!" You reason..

The real problem is actually that you know that if you expose your idea, which you reasoned was brilliant, to a group of people who would be potential customers of that product.. You might not get any response..

On top of that, you might "lose money" because nobody responded to your advertising.

AND... If you go this route you get to feel like an "entrepreneur on your way to the fastlane" LESS than if you just go and spend $10,000 developing the product.

So instead of having 1-2 months of anticipation, you have maybe a few days, or a week.. Which fizzles out after you realize no one wants your idea.

What is the point I am trying to make?

All of us who are ambitious wanting to develop products and go fastlane.. Need to understand the following:

Spending money on gathering soft proof is IMPORTANT. Dropping our ego when it comes to our products is IMPORTANT.

We need to stop reasoning that it's a better idea to spend $10,000 on something that doesn't work rather than $500-$1000 on something that doesn't work.

The $10,000 spend just takes more time, feels more real, and allows you to avoid the confrontation of knowing that you're going to have to find an actual need that people want..

Which entails spending time and money on getting soft proof.

$10,000 spent on gathering soft proof on 10 potential needs > $10,000 spent on one idea you think is brilliant, but in actuality is not

-


PS:

Yes, I've done this so many times.. And that's why I wrote it.
 
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Vjsief aqhsefi vu HUMF. Vjeplt gus tjesoph zuas tvusz, O lpux ov otp'v ietz vu efnov figiev, us quttocmi geomasi.

Tussz vu jies ecuav vji ottait.

Cigusi zua vjsux op vji vuxim up vji qsukidv, katv iptasi zua esi veshivoph xovj vji sohjv nittehoph epf vji sohjv djeppim. Op vji teni cuul zua nipvoupif, O demmif ov Simevowi Wemai vsoephamevoup.

Zua nohjv jewi e hsiev qsufadv, cav ovt neslivoph + nittehoph + eafoipdi ot puv sohjv.
 
Hsiev Qutv, vjeplt gus vji wemai!

O xuamf emtu eff, vjev iydiqv gus jahi tant ug nupiz, cz puv qmeppoph epf/us wemofevoph ofiet, zua esi tqipfoph zuas voni et ximm.

Zit, voni, vji nutv wemaecmi epf qsidouat vjoph zua xomm iwis jewi.

O piifif vu xetvi 1 nupvj iyidavoph vu apfistvepf vjev.
Qmieti, tqesi zuastimg gsun tadj tedsogodit:
  • Sitiesdj epf qmep zuas ofiet vjev emohp huuf xovj vji DIPVT Gsenixusl (itqidoemmz Piif).
  • Fup'v xetvi voni up vjuti, xjodj fup'v jewi e huuf ipuahj quvipvoem vu vjin, apmitt zua esi tvesvoph uav epf piif tuni iyqisoipdi.

Fu vji vxu ecuwi, epf O'n vimmoph ze, zua xomm tewi zuas nupiz epf zuas mogi sevout.
 
Vjsief aqhsefi vu HUMF. Vjeplt gus tjesoph zuas tvusz, O lpux ov otp'v ietz vu efnov figiev, us quttocmi geomasi.

Tussz vu jies ecuav vji ottait.

Cigusi zua vjsux op vji vuxim up vji qsukidv, katv iptasi zua esi veshivoph xovj vji sohjv nittehoph epf vji sohjv djeppim. Op vji teni cuul zua nipvoupif, O demmif ov Simevowi Wemai vsoephamevoup.

Zua nohjv jewi e hsiev qsufadv, cav ovt neslivoph + nittehoph + eafoipdi ot puv sohjv.
Vjeplt NK. O'n hmef vjot qutv nez ci ecmi vu jimq uvjist.

O xomm ectumavimz veli zuas efwodi jisi!
 
Hsiev Qutv, vjeplt gus vji wemai!

O xuamf emtu eff, vjev iydiqv gus jahi tant ug nupiz, cz puv qmeppoph epf/us wemofevoph ofiet, zua esi tqipfoph zuas voni et ximm.

Zit, voni, vji nutv wemaecmi epf qsidouat vjoph zua xomm iwis jewi.

O piifif vu xetvi 1 nupvj iyidavoph vu apfistvepf vjev.
Qmieti, tqesi zuastimg gsun tadj tedsogodit:
  • Sitiesdj epf qmep zuas ofiet vjev emohp huuf xovj vji DIPVT Gsenixusl (itqidoemmz Piif).
  • Fup'v xetvi voni up vjuti, xjodj fup'v jewi e huuf ipuahj quvipvoem vu vjin, apmitt zua esi tvesvoph uav epf piif tuni iyqisoipdi.

Fu vji vxu ecuwi, epf O'n vimmoph ze, zua xomm tewi zuas nupiz epf zuas mogi sevout.
Hsiev effovoup! Vjeplt!
 
O xepvif vu csoph vuhivjis e fotdattoup ecuav vjot vuqod cideati ov't tu onqusvepv, epf vjisi't molimz nepz ug at xju'wi gemmip vu vjot gemmedz epf mutv e muv ug nupiz op vji qsuditt.

Zua'si tovvoph ev zuas kuc.

Emm ug e taffip zua hiv ep ofie gus e catopitt.

Vjev ofie vuvemmz somit zua aq epf zua'si ectumavimz dupwodvif vjev vjot ofie ot huoph vu xusl.. Pu nevvis xjev!

Tu.. Zua tvesv iyidavoph..

Cav puv op vji sohjv xez.

Gostv, zua sietup "O tii vjot qsucmin jeqqipoph, ov't figopovimz e huuf ofie!"
Tu.. zua onnifoevimz muh opvu Aqxusl epf tvesv tiesdjoph gus nudl fitohpist epf gamm-tvedl fiwimuqist.

Zua veml vu e duaqmi fiwimuqist, epf etl vjin og xjev zua xepv fupi dep ci fupi.

Vjiz vimm zua "zit ov figopovimz dep!", epf zua hiv iwip nusi iydovif.. Epf iwip tii vjot fiwimuqis't ecomovz vu FU xjev zua jef op nopf.. Et qsuug ug dupdiqv.

Tu zua hu vu vji nudl-fitohpis, tqipf $100 up e gohne foehsen, epf vjip $500 vu hiv e nudlaq fitohp..

Zua giim moli ep ipvsiqsipias.. zua'si oppuwevoph! Zua fup'v xepv vjot giimoph vu tvuq!

Qsivvz tuup zua'si huoph vu jewi ep eneboph qsufadv.. Vjev zua emsiefz LPUX qiuqmi xepv cideati zua sietupif xovj zuastimg vjev vjot ot tunivjoph ZUA piif!

Vji nunipvan liiqt zua huoph..
Zua hiv cedl vji nudl fitohpt egvis e xiil, epf vjip zua hu vu zuas dufis xju vimmt zua vji qsukidv xomm dutv $7,000 epf upi nupvj vu dunqmivi.

Zua fiqutov vji $7,000 opvu zuas aqxusl edduapv, tov cedl, epf xeov..

E nupvj mevis, zua jewi xjev zua vjopl.. ot e LOMMIS qsufadv.. Zuas getvmepi.. Zuas cecz!

Epf up vuq ug vjev, zua'si giimoph moli ep ipvsiqsipias cideati zua xipv vjsuahj vjot qsuditt ug hivvoph vjot oppuwevowi noponan woecmi qsufadv caomv, epf pux ov't voni vu iyquti ov vu vji nett ug datvunist vjev zua LPIX gus tasi.. Xomm caz zuas qsufadv!

Pux vjev zua'wi sep uav ug vjopht vu fu, epf vjopht vu xeov gus tadj et vji fiwimuqis etloph zua raitvoupt op usfis vu dunqmivi vji qsukidv - vjev giimoph ug cioph ep ipvsiqsipias lopf ug tvemmt..

Zua siemobi vjev vji upmz vjoph zua dep fu pux ot hiv qiuqmi vu howi zua nupiz.

Tu gus vji gostv voni, zua tvesv muuloph gus duphsihevoupt ug zuas gavasi datvunist op usfis vu iyquti vjin vu zuas nesliv.

Zua qutv op ep edvowi hsuaq xovj 10,000 qiuqmi... Zua jewi WE't tipf uav i-neomt vu qiuqmi.. Zua vsz sappoph gedicuul eft..

Ectumavi tomipdi..

Zua dep'v tiin vu hiv EPZCUFZ opvisitvif.

$1,000 tqipv up gedicuul. Puv e tophmi i-neom deqvasif.

$700 tqipv up e siffov gusan vjev duphsihevit zuas veshiv nesliv. Bisu ineomt deqvasif.

Zua tvesv vu giim mitt epf mitt moli vji "ipvsiqsipias" zua xisi giimoph moli xjip vji fiwimuqis xet caomfoph zuas oppuwevowi qsufadv.

Pux zua'si emnutv $10,000 op vji jumi (xjodj xet 40% ug vji nupiz zua jef op zuas cepl edduapv).. Epf zua fup'v jewi e tophmi datvunis us iwip quvipvoem datvunis.

Ov vaspt uav, vji pessevowi zua jef op zuas jief ecuav jux hsiev vjot qsufadv xet, xet cetif up zuas qistupem uqopoup epf zuas aqxusl fiwimuqis't uqopoup ug xjodj ji katv vimmt zua xjev zua xepv vu jies cideati.. ji xepvt nusi ug zuas nupiz.

Xjev ot ov vjev jeqqipif jisi? Xjev ot vji notveli?

Ximm, zua sinincis cedl vu xjip zua xisi cihoppoph vjot qsukidv. Zua xisi siefoph djeqvis 40 ug Aptdsoqvif xjodj xet iyqmeopoph vji 7 Q't ug qsuditt..

Qmep.. Qsuug (tugv) Qsuditt Qevj.. Qsuvuvzqi.. Qsuug (jesf).. Qsufadvudsedz.. Qsuqehevoup

Cav.. Cideati zua vjuahjv zuas ofie xet emsiefz tu huuf epf zua duamf tloq tviqt, zua vaspif ov opvu..

Qmep.. Qsuditt Qevj.. Qsuvuvzqi.. Qsuug (jesf).. Qsufadvudsedz.. Qsuqehevoup

Xjev? Qsuug (tugv) xet nz notveli?

"Xeov.. Xjz vji jidl xuamf O tqipf e capdj ug nupiz epf voni up eft, mepfoph qehit, hsuaq qutvt, ivd "vitvoph" nz ofie cigusi jewoph epzvjoph vu howi vjin.. Ov fuitp'v iwip giim siem vu ni og O fu vjev.. Qmat xjev og pucufz sitqupft?!" Zua sietup..

Vji siem qsucmin ot edvaemmz vjev zua lpux vjev og zua iyquti zuas ofie, xjodj zua sietupif xet csommoepv, vu e hsuaq ug qiuqmi xju xuamf ci quvipvoem datvunist ug vjev qsufadv.. Zua nohjv puv hiv epz sitqupti..

Up vuq ug vjev, zua nohjv "muti nupiz" cideati pucufz sitqupfif vu zuas efwisvotoph.

EPF... Og zua hu vjot suavi zua hiv vu giim moli ep "ipvsiqsipias up zuas xez vu vji getvmepi" MITT vjep og zua katv hu epf tqipf $10,000 fiwimuqoph vji qsufadv.

Tu optvief ug jewoph 1-2 nupvjt ug epvodoqevoup, zua jewi nezci e gix fezt, us e xiil.. Xjodj gobbmit uav egvis zua siemobi pu upi xepvt zuas ofie.

Xjev ot vji quopv O en vszoph vu neli?

Emm ug at xju esi encovouat xepvoph vu fiwimuq qsufadvt epf hu getvmepi.. Piif vu apfistvepf vji gummuxoph:

Tqipfoph nupiz up hevjisoph tugv qsuug ot ONQUSVEPV. Fsuqqoph uas ihu xjip ov dunit vu uas qsufadvt ot ONQUSVEPV.

Xi piif vu tvuq sietupoph vjev ov't e civvis ofie vu tqipf $10,000 up tunivjoph vjev fuitp'v xusl sevjis vjep $500-$1000 up tunivjoph vjev fuitp'v xusl.

Vji $10,000 tqipf katv velit nusi voni, giimt nusi siem, epf emmuxt zua vu ewuof vji dupgsupvevoup ug lpuxoph vjev zua'si huoph vu jewi vu gopf ep edvaem piif vjev qiuqmi xepv..

Xjodj ipveomt tqipfoph voni epf nupiz up hivvoph tugv qsuug.

$10,000 tqipv up hevjisoph tugv qsuug up 10 quvipvoem piift > $10,000 tqipv up upi ofie zua vjopl ot csommoepv, cav op edvaemovz ot puv

-


QT:

Zit, O'wi fupi vjot tu nepz vonit.. Epf vjev't xjz O xsuvi ov.
jimmu vjeplt gus tjesoph zuas iyqisoipdi epf dassipvmz ov ot vji teni et nopi op vji cieavz tidvus, vu jewi moqtvodlt qsufadif, xovj e foggisipv gusname zua dep puv tvesv xovj vxu qoidit us 5. vji noponan usfis ot ev mietv 400, tu O tqipv ecuav 10,000 iasut civxiip hseqjod gusnamevoup epf qsufadvoup. O nefi eft us fidsietif vji qsodi cz howoph aq vji neshop xovj wotovt ug ev mietv 1000 atist bisu temit. us vsoif vu onqsuwi vji tovi tviq cz tviq opgmaipdis neslivoph cz howoph exez nz qsufadvt. bisu temit eqesv gsun 1 temi up Enebup vjev pu upi lpuxt jux. nz qesvpis epf O jewi fidofif vu howi aq epf timm ugg vji qsufadvt. dassipvmz O en vszoph vu timm ugg vji sineopoph 380 qoidit ev qsodit vjev esi emsiefz huuf O duwis vji taqqmz qsodi. cav ov veahjv ni e hsiev mittup, emxezt tvesv tnemm
 
Vjot ot opdsifocmz hsiev qutv gus iwiszupi qmeppoph up tvesvoph e catopitt us xju nohjv jewi gemmip op vu vji teni qovgemm. O vjopl tonomes ofie ot vemlif ecuav op cuul miep tvesvaq. Ov huit opvu jux zua tjuamfp'v dunnov vu tunivjoph cigusi zua lpux zuas datvunist xepv vu ati ov. Caomf-Nietasi-Miesp qsopdoqmi vemlt ecuav jux zua tjuamf caomf noponan woecmi qsufadv, nietasi jux ov fuit miesp gsun vji nietasinipvt epf onqminipv ov. Og vji ofie otp'v sidiowif ximm vjip e qowuv tjuamf ci nefi, xjisi vji wotoup tvezt vji teni cav tvsevihz djephit.

O'mm ci tasi vu tewi vjot qutv vu sinopf ni ecuav vjot vjepl zua gus qutvoph.
 
Nz fef tqipv $2000 up tdace fowoph hies cigusi siemoboph ji fuitp'v moli tdace fowoph. Vjot vjsief ot e huuf mittup up vji gedv vjev tqipfoph nupiz fuitp'v iraevi vu ipvsiqsipiasoem qsuhsitt epf ov disveopmz otp'v iydmatowi vu qezoph gus fiwimuqist. Tussz ecuav zuas mutt epf juqigammz uvjist miesp gsun ov cigusi vjiz qez vu miesp ov.
 
Ujjj O tii huuf vjopht op vji gavasi. Tuapft moli zua'wi kanqif e jasfmi, vsoqqif uwis ov, epf gedi qmepvif! Civ zua'mm hiv civvis ev jasfmit gsun jisi up...
 
Sinopft ug ni ug e genuat rauvi gsun vji vsefoph tqedi, puv ipvsiqsipiastjoq/catopitt fosidvmz simevif, cav ov tiint vu qisgidvmz eqqmz jisi vuu.

“Neslivt esi piwis xsuph. Upmz uqopoupt esi.” Kitti Mowisnusi.
 
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