Hey there everyone!
The Background:
Over the last year, I've built two projects that relate to this new concept I'm starting to build out (both failed to reach their ultimate goals, but, I learned a TON from each project and created a large community/following because of them, and an email list of around 80k). The new concept is very much in the "this is incredible and exciting!" phase I know many of you have experienced building your own businesses at one point or another, but I truly believe this is a massive opportunity. The problem I'm facing is that, although the idea is great, my ability to build it out is nonexistent; at the moment.
I've taken the first steps by taking several courses that can help me start; a few for coding (which I'm unfamiliar with) and another to further my understanding of more advanced economics (which will be imperative to the design of this concept once it's fully operational).
I'm going to work on a prototype that my community can test, analyze the feedback and consider the options moving forward.
The Questions:
The more I learn about the back-end processes of this concept the more advanced and difficult it seems to build. to be clear, this isn't the least bit discouraging, and in fact, it's a great sign in terms of Barrier-to-Entry. However, it's looking more likely that I'll need a team to develop the final product.
My questions to those of you who've needed a team to build out a product/business are:
The Background:
Over the last year, I've built two projects that relate to this new concept I'm starting to build out (both failed to reach their ultimate goals, but, I learned a TON from each project and created a large community/following because of them, and an email list of around 80k). The new concept is very much in the "this is incredible and exciting!" phase I know many of you have experienced building your own businesses at one point or another, but I truly believe this is a massive opportunity. The problem I'm facing is that, although the idea is great, my ability to build it out is nonexistent; at the moment.
I've taken the first steps by taking several courses that can help me start; a few for coding (which I'm unfamiliar with) and another to further my understanding of more advanced economics (which will be imperative to the design of this concept once it's fully operational).
I'm going to work on a prototype that my community can test, analyze the feedback and consider the options moving forward.
The Questions:
The more I learn about the back-end processes of this concept the more advanced and difficult it seems to build. to be clear, this isn't the least bit discouraging, and in fact, it's a great sign in terms of Barrier-to-Entry. However, it's looking more likely that I'll need a team to develop the final product.
My questions to those of you who've needed a team to build out a product/business are:
- How did you manage to find like-minded, talented people that you can trust? (any specific resources, communities, strategies?)
- How have you managed the financial distribution for your team? (especially if a specific skill is needed that you yourself couldn't acquire in a reasonable amount of time?)
- At what point did you decide "I need to hire someone for this," because the time commitment for a skill was too consuming or the development of that aspect of your business would be best left for someone who already has a skill so you could focus on other attributes of the business?
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