When you’re running a bootstrapped business, the number one goal is to get profitable as soon as possible. And the best way to achieve that is to start charging immediately. Build a basic version of your product and put a price tag on it.
Here’s why you need to start charging ASAP:
1) Reach profitability sooner
The primary reason to start charging for your product or service immediately is to start generating revenue as soon as possible.
2) Get over the fear of asking for money
Asking for money can be uncomfortable, especially when you’re just starting out. But charging for your product or service early on can help you rip the band-aid off and get over that discomfort. By putting a price tag on your product, you’re signaling to potential customers that you believe in its value and are willing to stand behind it.
3) Get REAL customer feedback as early as possible
One of the biggest advantages of charging for your product or service early on is that you’ll start to get feedback from real customers. By speaking directly to your customers, you can find out what they like and dislike about your product, what features they find most valuable, and what they’re willing to pay for. This feedback can inform how you build and improve your product or service over time!