Question
I have developed a software programme which guides managers in real time while they are conducting coaching sessions. It has a lot of IP built in to help managers coach across a wide range of issues combined with the connection software. We have some initial traction with some big companies but it is very small and only in the pilot stage. I had a great conversation with Kevin McCathy. One option he suggested was to develop a freemium version to build up a customer base. Would like to do this but really need some income right now so concentrating on building income from companies. There is only me in the company, funded from savings and friends. Would appreciate advice on should I try and get some funding and get the freeium version going or should I stick to what I am doing? Or try a new approach altogether.
Answer
My assumption from your question is that a company would buy this for their managers to use. If that is the case, building a freemium version would not guarantee that the company would actually turn around and purchase the product (or premium version) in the future. If you have pilots with companies that are well established names, that should be enough to start trying to get new customers and generate revenue. The surest way to know if your product is good enough is to ask people to pay for it. The fact that you could use some money at this point, only reinforces the decision.
