It has been one year since my startup launch - few prospects but no converted customers yet. Is it time to quit?

SanjayS Passionate, Business-oriented Software Architect

December 29th, 2016

Greg Dizzia Founder // Product, UI+UX, Engineering at Omatum

January 1st, 2017

Do you feel like it's time to quit?


If yes - then yeah, get out. Your heart and head need to be in the company.


If no, or even 'not sure' (maybe that's why you're asking the question) it might be time for you to have someone external do a serious audit of what you've got going on. Bring in a consultant to look at what you're doing.


You're asking the wrong question... You're asking if it's time to quit - when you should be asking "What have I done wrong in xyz area".


Where are you seeing the problems? Why haven't you converted? How manual is your sales cycle? What's the UX look like for onboarding? How's the general UI? How's the brand portraying? Are you bringing enough traffic in to the sales funnel to properly assess it? Is your product appealing? Is your product buggy? Etc.


Lots of questions need to be asked and answered. This is in the land of consultancy and you need that perspective shift. You're 12 months out from launch and if you're even slightly interested in making this thing you've built successful you need to invest in that outside opinion and be willing to hear some hard things.


Whatever you do, be prepared to spend a few weeks or months executing a completely new strategy - because the one you've been using is obviously not working.

David Pariseau

January 2nd, 2017

There may be other alternatives. At this point you have to look at what you've built that has value. Is it a team, some IP, a client base (or valuable contacts), expertise in a field, etc. It may be that some of this is attractive to a potential buyer or partner. Approaching a competitor, customer, vendor, etc. with what you have with an eye to either bringing them on-board or selling what you have may allow you salvage your investment or leverage it into something else...

Biswajit Singh

January 3rd, 2017

Building your product is only half of the journey, while marketing it, selling it, and hitting conversion rate goals is the other half. Both halves are necessary for success and both require a lot of work. Before you simply quit it, i would ask you to find out the pain points ... ideally why your prospects are not converting? You can it's all about finding the reasons behind failure and then taking it as a lesson to craft your next plan.


As an entrepreneur i have learnt this from my experience that even when a prospect doesn’t initially convert, it doesn’t mean the game is over.


Be persistent without being annoyinH: Yes; i am serious when i say so. Unless your prospects unsubscribe or tell you to leave them alone, don’t give up!


It's pretty possible that your prospect is rejecting your product because they don’t understand its significance or value. Take the time to educate them.


Seek feedback. Uncover why your prospect hasn’t signed up for your product yet.








April Benson Relationship Marketing Rockstar

January 3rd, 2017

On average, it takes 2-5 years to build a successful company. You are only beginning to get your bearings in the first year, give it some time. Make sure you have a system to implement your strategy.

aven reddy I am in love with Business

January 6th, 2017

Keep fighting! Never give up!

Chuck Solomon

January 2nd, 2017

I'd be asking questions to your prospects on why have they not converted. Find out the reasons. Perhaps you can work through those reasons and convert them. At the very least you will learn why they aren't buying and that will provide you with more data points to make a decision to perhaps pivot before you decide to quit.


Mathew Aird Ambitious and business minded

January 4th, 2017

Hi Sanjay,


As mentioned by some of the other respondents the key is whether or not you know the reasons why you don't have any paying customers yet.


If you know the reasons and you can fix them then carry on.


If you have no idea why no one has bought, then find out.


If you can't get detailed feedback from at least 20 prospects then you probably haven't pitched enough prospects and you need to get out from behind your Mac and talk to more of them.


Once you've done that I think the answer should be pretty clear.


Hope that helps,


All the best,


Matt

Deborah Callahan Founder of Wanderstarr.com

January 7th, 2017

Don't give up on your dream! Trust the process.

Best of luck to you.

Anh Dao Web and Mobile Developer

January 4th, 2017

It depends on your situation, customers and product.


Some products are harder to sell than others. What are the users' feedback like? What are you selling?


I need more information to answer it.

Sean Xie Founder of Zendo Media, Startup Empire

January 4th, 2017

More details would be great, maybe provide us with a link of your website, tell us about the product, what you trying to achieve / problems you are trying to solve for your customers?