Favoriot’s Odyssey: Navigating the Rough Waters of Early Revenue

Starting a new business is a lot like setting sail on uncharted waters. There’s a hope, a dream, and a sense of adventure. As the founder of Favoriot, I embarked on this entrepreneurial journey with enthusiasm and high hopes. Little did I know that the waters would be so turbulent when it came to generating early revenue.

The Hopeful Beginning
Launching a product is a moment of pride for every founder. In our minds, we believe we’ve built something exceptional that the market needs. This confidence often leads us to assume that customers will be quick to recognize its value and make a purchase. But for Favoriot, like many other startups, this was far from reality.

Facing Harsh Truths
Our early days were sobering, to put it mildly. We believed our product was ripe for quick adoption. Yet, the sales figures told a different story. In the initial two years, our revenue was so low that it’s almost embarrassing to mention. Our financial earnings were so minimal that they couldn’t even cover basic monthly salaries. Such a situation would make any founder question their choices and direction.

Lost in R&D
Our primary focus during the inception phase was on Research & Development. While innovation is essential, we overlooked the need for diverse revenue streams. We were engineers at heart, passionate about perfecting our product, but we didn’t give enough thought to the business side of things.

A Market Playing Hard to Get
In those early phases, most interactions with potential customers were frustratingly non-committal. They seemed interested and often asked us to draft proposals, but they seldom proceeded to request official quotations or place orders. It felt like being on a perpetual first date, waiting for the call that never comes.

Turning the Tide
But, as they say, night is darkest just before the dawn. After several long months, the market began to shift. We noticed an uptick in genuine inquiries, more requests for quotations, and then, the golden ticket—actual purchase orders. The sight of official documents, bearing commitments to our product, was like a balm to our stressed spirits.

A Ray of Hope
With the first few projects and consistent revenue streams, our confidence began to rebuild. It signaled that we were finally on a trajectory that aligned with the market’s needs. The pain and struggles of the initial years started to make sense, as they had shaped us, refined our product, and honed our approach.

In Retrospect
This journey, fraught with challenges and financial strain, was undoubtedly painful. But in its wake, it also brought satisfaction—a kind that can only be derived when one sees their brainchild find its rightful place in the market. Today, as I reflect on our early revenue pains, I believe they were necessary. They taught us resilience, the importance of adaptability, and above all, the value of perseverance.

To every startup founder reading this, remember: the journey might be strenuous, but when your product finds its market fit, every sleepless night and every hurdle will seem worth it.

Author: Mazlan Abbas

IOT Evangelist

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