Most project holders start by buying a 600€ logo, registering the company, ordering a 40.000€+ app, investing in extensive business tools and take months to be ready.
Finally, they launch! And... they flop. Nobody signs up. 😞 Or nobody cares about the features and users leave after a day.
What happened? The target's need is misidentified, the value is poorly delivered, and it is full of bugs as a result of too many unfinished unddesired features. They finally understand they should really listen to their future clients and build with them while minimizing expenses. But it's too late; they ran out of cash, drowning under too many early expenses and not enough tangible results to get investors.
Right way
Your idea is only as valuable as the execution. Sad story, right? But it's very common. The right way to approach this is to validate your idea before investing a lot of time and money into it. This can be done through prototyping, and testing with a small group of users. By gathering feedback early on, you can make sure you are building something that meets the needs of your target market and has a high chance of success. Additionally, it's important to prioritize essential features and focus on delivering a minimum viable product (MVP) before adding unnecessary features. This will help to keep costs low and allow for more flexibility in making changes based on user feedback. Finally, it's important to have a solid business model in place to ensure that you have enough resources to sustain the development and growth of your product.