building a service that makes no money
what's really hard is that everyone keeps asking how i will monetise. I dont know. I'm more interested in reducing congestion by getting people parked ASAP. the tech i've build auto-detects when a person leaves a parking spot, and suggests that to someone else using the app in the vicinity. Currently trialling in Melbourne, Australia.
How do i stay focused on getting people off the streets and sustain my home and mortgage!? scary as , but i'm so driven! help! :)
Hey - I don't know what your personal financial situation is, but I firmly believe you should take care of yourself and your family first before taking "the plunge" and going full time on a new business.
Idea is cool - you could get some location based advertising going like someone else said. You could also consider charging a premium version for those that need your app many times a day or at a specific time every day etc.
First of all, your idea is great, and the design of your brand is very nice. That being said, I would advise that you figure out your financial situation first. No matter how badly you WANT to get your app out there, it will inevitably fail if you have no financial planning for yourself and your product.
Are you building this by yourself? One idea is to seek out someone who is financially-oriented to partner up with on the project. It sounds like you're not interested in the business side of things, so if you can find someone who is, you'll have a MUCH bigger chance of success with this app.
Grants? Why not do this part time?
I was in the same boat for a while. I was able to focus and pay the mortgage once I got a much easier job, which also pays much less than my past positions. Once that happened, I had to dial down my commitment to about 40 hours a week on my project
Yep well I've got a bit of runway and was quite senior in my previous management role. But the fear and doubt was what kept me from acting. When i finally did i realised I needed to go all-in for a while just so i had enough momentum to not stall at the edge of the leap-off point. its been a great learning curve, and there is lots of validation. I'm teaching myself to code to become more self reliant, but that takes longer than i'd like to admit :)
So you have a mortgage and you are doing this full-time with no income? Or did I misunderstand something?
I would have thought injecting advertising for the local businesses around where the people are parking would have been the model.