Money WondersPlay

Building a BusinessValidation

Your First Customer

Sell it before you build it

Your friends all say they'd buy your idea. So why do so few of them actually pay when you ask?

You'll find out

  • How many of the yeses really pay
  • A store with no shoes that worked
  • $10 million before a watch existed

Why it matters

Building costs months and savings. Asking for money first costs a conversation, and tells you the truth.

About 3 min6 interactive slides · 5 questionsLesson 164 · Zone 19

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More in this zone

  1. 163IdeasFind a Problem People Pay ForBusinesses sell solutions to real pain
  2. 165InventionsPost-it Notes Were a Failed GlueA weak adhesive became a bestseller
  3. 166Small BusinessA Business Needs EmployeesAbout four in five US businesses have none
  4. 167StartingSpanx's $5,000Sara Blakely sold fax machines door to door, cut the feet off her pantyhose, and built Spanx from $5,000 of savings
  5. 168PricingCost-Plus or Value PricingCharge for what it costs or for what it's worth
  6. 169Side HustlesHow Many Customers to Quit Your Job?Your escape number in customers
  7. 170FundingBootstrapping or InvestorsUse your own money or sell a piece of the company
  8. 171Fear of JudgmentThe Spotlight EffectPeople notice you far less than you think