When it comes to personal wealth, people always say that “the first million is the hardest.” With startups, the first dollar is the hardest. There are so many things that can go wrong. Making your first sale – no matter how small – is a significant achievement.
Earning your first dollar helps in a variety of ways – it gives you feedback from the market, the cash flow extends your runway, and it shows you who will buy and why. This is all valuable, but the psychological boost is probably the best part of your first dollar. Getting your first customer can take months – or years – in product development. The buildup to launch is always a trying time, riddled with uncertainty and doubt. Getting to that first sale gives you the confidence you need to keep going.
The vast majority of founders say that they wish they got to market sooner. Do everything you can to quicken your pace to market and get that first sale under your belt. Do this and you’re well on your way.