After several weeks of email prospecting and doing cold outreach by email and over the phone, I decided that BrewCube would not be a viable business in the specialty coffee market. I thought the value proposition was strong, but prospective customers didn't see it.
The market is incredibly tough to crack, and I couldn't find a reliable way to prospect that was free. I tried some facebook advertising and I could get clicks, but only 2 people added their emails and didn't respond to the email sequence that was sent out.
I also tried cold calling the customers of other businesses in the same industry to ask about the products they were currently using. The person who made the buying decision was almost never present, so it was difficult to unearth any real insights. Too much chasing people around for the kind of business I want to start.
I do have another market in mind that might be interested in the same value proposition and has A LOT more cash to throw around, but I don't think I'm going to pursue it.
Instead, I'm working on something for independent massage therapists. Something about helping small businesses and indie entrepreneurs excites me.
Oh well, you live and you learn.