Without a Sale, You Have an Expensive Hobby
Investor Steven Dossou says new founders should sell a basic version first, and save the registration and slides for later.
Concrete Pastures Podcast · S6 Ep 19 Steven Dossou Action Man— The Upside of Losing MomentumSteven Dossou, a Togolese-born entrepreneur and angel investor, a person who puts his own money into very young companies, learned by selling. He worked his way up in sales in South Africa to regional sales manager for one of the country's biggest companies. He is called Action Man because he tries to do everything he says he will do, and to do it as well as he can.
His test for a new founder is blunt. As Steven Dossou puts it, "without sales, you have an expensive hobby."
For aspiring founders, Dossou says to put selling before paperwork. Dossou says: "Forget about registering the business. Forget about, you know, pitch deck. Forget it." Start by turning the idea into something small that people can actually use, what startup people call a minimum viable product, and try to sell it.
He says action is the reason: without it, you cannot tell whether dreams, goals, or ideas are valid. Inaction never turns into action, and a product never turns into sales. Getting sales is the action he urges.
If you cannot close a sale yet, get at least a commitment. That phrase is his. To be clear, the following examples are mine, not his. They could include a paid deposit, a preorder, or a signed letter of intent, which is a short written note saying someone plans to buy if certain terms are met.
His closing instruction is simple. Get sales. Start getting sales.
Questions people ask
What exactly counts as a minimum viable product?
It means minimum viable product, the simplest version that still solves the problem well enough that someone would use it and pay for it. That could be a one-page service, a handmade prototype, or a basic website that takes orders. The point is to test demand before you build the full thing.
Do I really not need to register my business?
You will need to register eventually to take payments properly, pay taxes, and limit your personal liability. Dossou's point is about order, not legality. Validate that someone will pay first, then formalize, so you do not spend weeks and fees setting up a company nobody wants.
What counts as a firm commitment to pay?
A useful commitment is specific and costly to the other person in time or money. Examples are a paid deposit, a preorder, a signed letter of intent, or a spot on a paid pilot. A polite 'nice idea' does not count, because it does not show they will open their wallet.