The Story Behind Favoriot – Part 7: The Task of Finding Favoriot’s First 10 Customers

They say the first real breakthrough for any startup is securing ten paying customers. It sounds simple, doesn’t it? Just ten. But the journey to reach that number felt like climbing Mount Everest—without oxygen.

I still remember the day we got our first paid Favoriot subscription. The notification popped up, and I felt a rush of disbelief. “We did it!” I shouted loud enough to startle a few birds outside the window. My team and I were ecstatic, high-fiving like we’d just won a championship. For a moment, it felt like the floodgates had opened.

But reality had other plans.

Why Is It So Difficult?

Late at night, I found myself lost in thought, asking the universe, “Why is it so hard?” Was our product not good enough? Did it fail to solve real problems? Was our pricing scaring people off? My brain became a broken record, playing these questions on a loop.

We tweaked the product, experimented with pricing models, and added new features. “This has to work,” I thought after every adjustment. But the results? Meh. Crickets.

Then, I started comparing Favoriot with other platforms like ThingSpeak and Blynk. “Why do they have so many users?” We even offered free subscriptions, thinking it would open the floodgates. However, only about 5% of free users converted to paid plans. While that conversion rate wasn’t terrible, it wouldn’t pay the bills either.

A New Strategy

“Maybe we’re looking at this all wrong,” I wondered during our team meetings. That’s when it hit me—what if we bundled Favoriot with something people already wanted?

So, we paired the Favoriot platform with our IoT courses. “Let’s give them value beyond just the platform,” I suggested. And guess what? It worked. Slowly but surely, interest grew. We weren’t just selling software anymore; we offered a learning journey.

But we didn’t stop there. We introduced the Enterprise Favoriot IoT platform with a perpetual license. This was a game-changer. System Integrators loved owning the platform outright without worrying about subscription renewals.

“This feels right,” I thought, cautiously optimistic. And for once, my optimism paid off.

Lessons Learned

This rollercoaster taught me a few things:

1. Getting the first 10 customers is brutal. It’s like trying to push a car uphill with flat tyres. But every small win counts. “Celebrate the little victories,” I always tell my team.
2. A great product isn’t enough. You can build the most advanced platform in the world, but if it doesn’t solve a real problem, it’s just digital clutter. “Understand your customers’ pain points,” I remind myself daily.
3. Pricing is tricky. Too high, and you scare people off. Too low, and you undervalue your product. It’s a balancing act—like seasoning a dish just right.

Moving Forward

With the new Enterprise Favoriot IoT package, our confidence grew. “This is just the beginning,” I told my team. We’d faced countless challenges, but each one taught us something valuable.

Success doesn’t show up overnight with a bow on top. It demands persistence, creativity, and a healthy dose of stubbornness. We’ll keep refining, learning, and evolving. Because that’s what startups do—we adapt.

Hopes for the Future

When I reflect on our journey, pride wells up. “We didn’t give up,” I whisper to myself during quiet moments. Our story is far from over. In fact, it’s just getting interesting.

I dream of Favoriot becoming a leading IoT platform in Malaysia and globally. And I believe we’ll get there—not through luck, but through relentless effort and the unwavering support of people who believe in us.

To everyone who’s been part of our journey—thank you. “Without your support, we wouldn’t be here,” I say from the bottom of my heart.

Favoriot’s story is one of grit, growth, and endless possibilities.

More Entrepreneurship Stories

1. The Story Behind Favoriot – Part 6: Expanding The Business Models
2. The Story Behind Favoriot – Part 5: Finding the Right Fit
3. The Story Behind Favoriot – Part 4: How Favoriot Became More Than Just an IoT Platform
4. The Story Behind Favoriot – Part 3: Why No One Wanted Our IoT Platform—And How We Turned It Around
5. The Story Behind Favoriot – Part 2: Turning Failures into Milestones
6. The Story Behind Favoriot – Part I: The Humble Beginnings of Favoriot
7. Building My Personal Brand: The Stepping Stone to Favoriot’s Success
8. From Research Lab Critiques to Startup Pitches: My Slide Story
9. The Illusion of RFPs in the IoT World: Managing Expectations as a Startup
10. Favoriot’s Odyssey: Navigating the Rough Waters of Early Revenue