The second approach is to take
That being said if you want to raise capital a Ccorporation structure will give you more benefits than an LLC but will also require more paperwork and compliance which will add to your administration cost. For both entities you will need to hire a registered agent Like Northwest Registered Agent If you are looking for resources Financepond has handpicked the best registered agent services. Setting up a legal entity can be confusing and you can always consult a local CPA or business attorney if you need help with this. Set up an MVP Now that you have validated your idea and have the proper legal entity in place its time to focus on building an MVP .If you sell services what is the simplest service you can provide an existing product and remove features so that it has as few features as possible. The bottom line here is that we want to test the most basic assumptions behind your business with phone numbers data potential customers. Rotate if necessary Now that youve tested your MVP and understood your customers needs use it to your advantage. Do you need to make some small changes to your product or do you need to make adjustments If product feedback is positive and your customers are your SaaS great! But if not then make the necessary small changes.
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Its important to remember that an MVP is not a final solution nor is it about creating a completely minimal product. You need to find a balance between building the smallest version of your product and keeping in mind all the features you want to include. The last thing you want to happen is to build an entire product only to find out that customers dont really need it or just want some minor changes. A common saying about transformation is to fail fast but some would argue that this isnt always the right approach. Its important to think about how many transformations you can go through before your business no longer has a chance of success.
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