A product must fit the market and still leave profit
The first major challenge for a startup is finding . That means building something people truly need and are willing to use or pay for.
The next challenge is the . Revenue alone is not enough if the is too high or the is too low.
Hardware often have to solve and cost structure at the same time. Software es can often focus first on , then improve the later.
Key points
- first need to prove that people truly want the product.
- After demand is clear, the still needs a that leaves money after costs.
- Hardware often face product demand and cost pressure at the same time.
- Software es often have more room to find demand first and tune pricing later.
- Solo web and app operators should track both user demand and profit per customer.