Hello startup entrepreneur, let’s start off with flashy headlines like these which inspire and depress us both at the same time :
Ultra-Hot Secret Sharing App Whisper Raises $3 Million From Lightspeed, Trinity, And Others
Secret Raises $10M At A $50M Valuation
Our VC’s, advisors and “smart people with exits” always start their conversations with “this is a great app but….”
Where’s the revenue?
If there’s no revenue how are you going to make money?
What’s your differentiator and value proposition?
Next time I get asked these questions I plan to ask a follow up on if they invested in Whisper or Secret or 100’s of other products which have no revenue model, fairly similar to products already in market and only play is a buyout. Anyhow, I digress.