Before You Incorporate Your Estonian Company
There’s one common mistake that I experienced too many times in the early days of my journey as an entrepreneur. Here’s how it goes:
- I see an opportunity in the market.
- I think of a solution.
- I build something.
- I show it to the world.
- No one cares.
- No sales, nothing.
It’s a pretty common thing for young entrepreneurs to go through. The problem is spending too much on building the product or service before getting any response from the market.
In reality, you don’t even need a company in order to start speaking with potential clients and getting their feedback. Yes, the feedback alone isn’t sufficient, because people tell all kinds of things and disappear when it’s time to pay. But still, it’s better than mere guesswork.
Too many entrepreneurs start with an idea in mind before testing out the market. They assume there’s a demand for what they plan to sell. I still make that mistake when I get too excited about something and want to build it very quickly.
But I’ve learned to build good looking landing pages and waitlists to test if I can get some traction.
If there’s no interest nor signups, I will re-evaluate my approach. I tweak and test.
But I do it without spending too much time or money. And if the traction doesn’t get any better, I will not spend tens of thousands of euros on building the product. Here’s a case study of our client on validating the product idea.
So, before you incorporate your Estonian company – are you sure that there’s a demand for what you’re selling?
If you know that you have clients and are ready to proceed with incorporating the Estonian company, get in touch with us at email@example.com. You can also read about our Zero to Scale company management hub for e-residents by clicking here.