Here’s the bottom line: Whether Truemors succeeds or not, I learned a helluva lot. One thing is for sure: no entrepreneur can tell me that he needs $1 million, four programmers, and six months to launch this kind of company. With products like WordPress, MySQL, and Salesforce platform, things are a whole lot cheaper and easier these days.
For not a whole lot of money and time you can get something out there and see if it works. If it does, hallelujah: there’s no better time to raise money than after your prototype is scaling up. Indeed, you may not ever need to raise money. Fyi, there is no worst time to raise money than when you have nothing but an idea. Actually, there is a worst time: When you’ve burned through the first million, and you haven’t shipped or gotten any dogs to eat the food.
I end with a truism (as opposed to truemor): There’s only one way to find out if your idea will succeed, and that’s to try it, so go for it.
In the field of prediction markets, once can think of Inkling as the cheapest and faster incubator. (Whether what’s out of Inkling will last, that’s a horse of another color.)
