When people start to build a product, they always think about if they should focus on one single product first or multiple products. I remember one of the investor in the early days of MoneyHero always mentioned a theory.
Given you have five equal task and each task takes one month to build and then it will start to generate money.
Option A: Work on 5 tasks together (20% on each of the task every day)
Option B: Complete each task first before next task
Results:
Option A: After first month, Task A,B,C,D,E all are 20% in progress; 40% after second month…and the company start to make money from the 6th month
Option B: After first month, Task A is completed and start to make month. After second month, Task B is completed and both Task A and B have started to make money and so on.
Definitely, Option B is a wise choice, not only financially, but also in mentality. Confidence is important in the early times of start-up and even some small achievement can bring this feeling.
In reality, we can also see mega-company like Amazon also focused on selling books in beginning in 1990s before they fully expand the product coverage. Tencent focused on its instant messaging QQ before it becomes the mobile monopoly, etc.
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