Expect To Be Told ‘No’ 500 Times Before You Make A Dollar
I count how many times I get told ‘no’.
‘No’ from investors.
‘No’ from potential customers in B2C campaigns.
‘No’ from potential customers in B2B campaigns.
‘No’ from potential partners.
And here’s what I’ve learned after pitching investors over 700 times and running more marketing campaigns than I can remember.
For every new business model you should expect to be told ‘no’ 500 times before you make your first dollar of monthly recurring revenue (MRR).
500 no’s for $1 MRR.
This isn’t about getting someone to pay you once.
This is about consistently delivering repeatable value regardless of whether you’re running free-to-play, freemium, subscription or any other model.
If you nail the first dollar of MRR before you reach 500 no’s, you’re onto something. If not, keep testing and evolving. And don’t bother whinging about being rejected (like I heard three times today).
Building something new is a state of mind. It’s hard, worthwhile and opt-in.
Remember the ‘opt-in’ bit.
If you learned something hit that ❤️! This piece was originally published at @philhsc.