Launch now or Wait?

[MTBLover30]

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

1. Control I maintain complete control
2. 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.
3. 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)
4. 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.
5. 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

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Bounce Back]

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

1. Control I maintain complete control
2. 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.
3. 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)
4. 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.
5. 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

I am going early, lighter features but hitting the pain points, and just going cheaper than competitors that have bloated staff and expenses from not sticking to core features myself. I don't believe they can or will lower their price so the only thing they can do is either suddenly become more efficient (devs suddenly output more code or they cut features - both of which I don't think are going to happen).

Then later as I grow strategically add in the stuff that really moves the needle for the industry I have plenty of justification to raise prices reasonably.

I'd recommend the same but I haven't shipped yet so I am not sure it is the right call and of course is industry specific.

 

[MTBLover30]

I am going early, lighter features but hitting the pain points, and just going cheaper than competitors that have bloated staff and expenses from not sticking to core features myself. I don't believe they can or will lower their price so the only thing they can do is either suddenly become more efficient (devs suddenly output more code or they cut features - both of which I don't think are going to happen).

Then later as I grow strategically add in the stuff that really moves the needle for the industry I have plenty of justification to raise prices reasonably.

I'd recommend the same but I haven't shipped yet so I am not sure it is the right call and of course is industry specific.

That's a great point. I also reached out to a few other successful entrepreneurs and I have been able to come up with what seems to be a good plan of attack. I am going to blend that with what you just said.

Thanks for your time and feedback. It means more than you ever know. Also here's to your future success. Stay executing.

 

[amp0193]

BUT my competitors have more money and larger budgets and can adjust before I hit critical mass to defend financially

Don't worry, no they won't.

Just launch it already.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.