Exploring the viability of a potential business

I'm looking into providing a service that I am developing.

I just did a couple of tests, and based on those tests, it looks like it's going to cost me $360/day to fully do what I want. That's a lot of money.

I can reduce those costs probably by 20% with some tweaking to how I'm developing it, but it's still a lot of money for a startup.

I am thinking of building a landing page with a signup list. That would give me some idea of how many are interested in using the service and help me determine if that service would be financially viable.

I would need a lot of signups to break even/be profitable, so there's a marketing expense involved in getting those signups. I could probably work on that marketing myself and reduce that expense.

The full-blown service doesn't have to happen immediately. I could offer a smaller subset of the service initially and make the costs even lower at first. But I really want to offer the opportunity for the full-blown service right out of the gate.

I have never run a business before. But I have thought about doing so quite a bit.

Any GLPers have any feedback? I know this post is vague about details of what the business is/will be (that's intentional).

Any/all feedback will be very much appreciated, and I think other GLPers can learn from this thread too.

Last Edited by BoatyMcBoatface on 09/16/2021 08:49 PM