User Power
Value/Post Ratio
122%
- Jan 6, 2023
- 23
- 28
I have a question for the following entrepreneurs who have been successful and are familiar with MJ’s validation process.
First I’ll give you the background of what I’ve completed.
Then I’ll share where I’m at in the current process.
Third I’ll share the option I’m considering with the fear that’s holding me back. I’m looking for feedback on the option I’m considering.
First
I’m building a digital product in the automotive space. I stumbled upon the potential of this need when I engaged with existing solutions offered by competitors
Everyone I know, saw, and engaged, including me was using pain based language such as:
I hate how….
Why can’t we…
This sucks….
Why are so many people failing to….
Etc….
My current offer has been soft validated and it’s a massive improvement over existing solutions from a value, experience, cost, and risk, standpoint.
Bottom line, I have a superior offering that solves a real problem that is tied to massive market opportunity.
Second - Where I’m at in the current process
I’ve built a MVP to soft validate and proved 8 to 10 sales per day with a CAC of $7.30
Current profit as of soft validation ranges from $93 to $157 per sale.
I have also soft validated on my YT channel via YT analytics and positive feedback from comments.
This soft validation led me to began building the full solution.
BUT I no longer have the time I need to launch at my desired timeframe due to life changes.
This time frame is important because I can launch during peak season and get a massive amount of traffic.
I also have a YT channel that garners 178k to 230k views per month of an audience that could and would use this product.
Currently I still have about 30 to 20 percent left to build. And this is where I hit my fork in the road and need your feedback.
Third - Build and risk delayed launch or presale and potentially alert competitors
Before you judge to harshly judge, let me share how this this stacks up against CENTS
My options and your feedback
Option 1
I can continue to build at a slower pace and potentially miss my peak season deadline.
Pros:
Stay under radar
Cons:
Miss deadline for potential massive sales and still alert competition during slow season.
Option 2
I can pre-sale using existing product as a way to get cash flow now.
Pros
Get hard validation
Get cash flow now (could lead to increased time as I might be able to quit job or purchase time off via vacation days)
Cons
Potentially create adjustment in largest competitors business model (Although they may be slow to adjust due large size)
PS
Competition doesn’t kill the business it just makes it harder and could cause extra cash investments.
Goal is to hit $2M to $5M before competitor seeks direct competition.
By that time I’ll introduce the next evolution of the product. This means my competition will always lag my productocracy
What are your thoughts
First I’ll give you the background of what I’ve completed.
Then I’ll share where I’m at in the current process.
Third I’ll share the option I’m considering with the fear that’s holding me back. I’m looking for feedback on the option I’m considering.
First
I’m building a digital product in the automotive space. I stumbled upon the potential of this need when I engaged with existing solutions offered by competitors
Everyone I know, saw, and engaged, including me was using pain based language such as:
I hate how….
Why can’t we…
This sucks….
Why are so many people failing to….
Etc….
My current offer has been soft validated and it’s a massive improvement over existing solutions from a value, experience, cost, and risk, standpoint.
Bottom line, I have a superior offering that solves a real problem that is tied to massive market opportunity.
Second - Where I’m at in the current process
I’ve built a MVP to soft validate and proved 8 to 10 sales per day with a CAC of $7.30
Current profit as of soft validation ranges from $93 to $157 per sale.
I have also soft validated on my YT channel via YT analytics and positive feedback from comments.
This soft validation led me to began building the full solution.
BUT I no longer have the time I need to launch at my desired timeframe due to life changes.
This time frame is important because I can launch during peak season and get a massive amount of traffic.
I also have a YT channel that garners 178k to 230k views per month of an audience that could and would use this product.
Currently I still have about 30 to 20 percent left to build. And this is where I hit my fork in the road and need your feedback.
Third - Build and risk delayed launch or presale and potentially alert competitors
Before you judge to harshly judge, let me share how this this stacks up against CENTS
- Control I maintain complete control
- Entry is hard as it requires specialized knowledge and equipment BUT my competitors have more money and larger budgets and can adjust before I hit critical mass to defend financially. I can fly under the radar and only launch in 1 to 5 states before I go national.
- Need there is a great need for this as existing solutions are currently a cash grab and only offered by publicly traded companies who are profit squeezing or mom and pop solutions who have failed to innovate and increase value. Current market size is 9 million new customers each year per state (conservative)
- Time I have designed the business to function is a way that will use my time at first to ensure the system functions well. This allows me to work out any unforeseen kinks. Once I have validated and optimized the system I can replace my self with one employee and hire more as the business expands.
- Scale the business solution can be used globally. It’s easy to convert all English parts of the business into other languages to be successful.
My options and your feedback
Option 1
I can continue to build at a slower pace and potentially miss my peak season deadline.
Pros:
Stay under radar
Cons:
Miss deadline for potential massive sales and still alert competition during slow season.
Option 2
I can pre-sale using existing product as a way to get cash flow now.
Pros
Get hard validation
Get cash flow now (could lead to increased time as I might be able to quit job or purchase time off via vacation days)
Cons
Potentially create adjustment in largest competitors business model (Although they may be slow to adjust due large size)
PS
Competition doesn’t kill the business it just makes it harder and could cause extra cash investments.
Goal is to hit $2M to $5M before competitor seeks direct competition.
By that time I’ll introduce the next evolution of the product. This means my competition will always lag my productocracy
What are your thoughts
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