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A quick video from me on the (big, big, big) difference between a product that actually functions and a business that really works.

Roughly;

  • Getting the product to ‘function’ means you can use it.
  • Getting the business to ‘work’ means that you optimise it so that it creates lots of value.

And my rough guide for your budget;

  • 20% – on your first version. Most will be thrown in the bin as you learn so much about the business.
  • 20% – on your second version. So much better than first version.
  • 10% – refining the second version so it’s really good (UI, design, optimise).
  • 50% – to market, manage, maintain towards traction/profit.

So try not to put 99% into the first version…

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