4 Ways to Monetize a Community
August 30, 2024
If you’ve built a community, it’s not always immediately clear how you will make money.
Today we’re talking about whether or not you’re ready to quit your job and start a startup. Here are the main things to consider:
In most cases, starting a company will involve some lifestyle choices. Ensure you have a minimum of one year of savings to pay the bills.
Have you found an idea, or at least a market, you’re deeply passionate about? Ideally, the market would have substantial cash flow in the Billions, rather than tight constraints.
You’ll need to talk to at least 25 potential customers to confirm baseline demand and test your assumptions. Your perception of the problem may differ from your customers.
Best of luck out there.
