Entrepreneur Problem #143: Companies Without Customers

Alright, I have a full fledged website: http://www.iqco-op.org, I have a VP. We have business cards. We are hosting 2 events coming up. But... There's only one problem with IQ Co-Op. We don't really have any customers to speak of.

Odd predicament, I know it mus seem: to be a business with everything but the customer base. But believe me, there is a reason for this madness. I am trying to boostrap my company. So unfortunately, that means getting it off the ground with my own out of pocket expenses. I need to have some sort of infrastructure set up before I can even get customers. If the majority of my income is going to come from having my own place, then that means something very simple: I need seed funds before I can go and start a space. And it's not like I can go and get a loan as I am a mere 18 years old. But, that is not to say that I can't find other ways of earning money to save up until I have enough interested members to be able to get this going on a quicker projection.

So I am teaching classes, holding seminars, and hosting networking parties as well as conferences in the near future and start up competitions shortly after that. Once I have enough prospective members meeting and willing to throw down dues to get this started, and I have maybe a sponsor or two, hopefully a Thiel Fellowship, and  enough saved up to open up a space that I can host my own classes out of, then GREAT. I'll be all that much closer to being in the black.

I am not too terrified about not having any real customers, yet. There is a difference between understanding that you are working on creating infrastructure and deluding yourself to think that you never actually need customers. That is your income base. You actually want to make money, not just spend it.

So, no, not too terribly concerned. Although if another month passes and there hasn't been much of a change in... anything... then there will be reason for concern. It is all about being reasonable given the circumstances.

Use good judgment. That is some advice that I think I could impart to all of you would-be entrepreneurs: Use common sense! Have a plan. And revise it. Often.

I am pretty sure my description and aims of IQCO have changed slightly a multitude of times in the past months. I had to. You adapt or you die.

So now, I am waiting to be able to start actually making money. Yes, that will come about in about a week or two, but I want to start working on that now. Not later.