A founder who raised $50 million and shut down explains why testing customer demand first matters. Use a Minimum Viable Test to validate your riskiest assumption before you raise big money, especially for SaaS.
I raised $50 million and then shut down the company sort of move that happens all the time. And that move happens because of this mistake, I think. And so in a minimum viable tested scenario, you say, all right, I have this idea, but I think there's a good chance that I could be wrong. If I was wrong, what is the riskiest thing that I need to test to figure out what, you know, that would make it, make this company fail? And in most companies, the riskiest thing is whether people will want your product, right? So for a SaaS business, you might have this great idea, but when you go out into market and actually sell it to people, like they may not want it.
