That's true.
Ycombinator had a startup that was doing captions for youtube videos! Something even smaller than what I do, and the startup was acquired by youtube for $3 Millions, if my memory is not hanging up.
It's based on facebook, it's one of the business challenges we are aware of, but can be extended to other social media websites and on the websites itself.
we are starting small and then we will replicate and expand as we go.
I need at least $25,000 to push this startup to it's real potential.
It will give me 18 months, a point I would be able to monetize comfortably without worrying about churn rate.
After 18 months, and after burning $25,000... this is the point I would reach the break even point, and I might get profitable as well. It's well calculated!
Ecommerce is booming in the middle east!
I am providing long free trial - up to 1 year!
Still my sellers/users know very well they will be charged after a trial ends.
I have 10+ paying customers.
It won't work if I get a job. I am working alone on this, and I have to work full time on this. otherwise I would not be able to achieve such progress!
I do everything! I code, I sell, I provide customer service!
facebook is not charging users for using it.
still it got a ton of investment!
facebook had a serious trouble monetizing it's service.
so no revenue or monetization method is not enough for deciding that this business is not worth it.
I will make it as my last resort.
I will warn my sellers that I will charge them $6/mo.
This will have a negative impact of high churn rate for sure.
But if I will shut it down, then churn rate would mean nothing - it will be shut down anyway!