So I have a bootstraped startup that's starting to get some traction. A little background: we make a classroom recording appliance that works with fixed positioned cameras in classrooms to record and stream live high school classes. The appliance handlings the recording, streaming, and viewing of the recordings through a web interface. We've gotten a great response from virtually every educator we've shown it to. The big problem is that schools don't have a lot of money for anything right now. We've had a few sales with some early adoptors who are loving the product. The kids at the schools love it, the teachers love it, and the administrators love it too. Basically it's an all around winner for the people who are using it. I typically see 50-100 views a day and around 20 recordings being made a day on a typical installation.
The problem we're having is getting people to put down the money for it. We're priced at a very reasonable amount for the space we work in. I can't help but wonder if we:
- Built the wrong product
- Are selling to the wrong market
- Are positioning the product incorrectly
Do that we need to hire a sales staff that focuses on bringing more early adopters for awhile to build momentum? This would probably require us to raise outside funding which I'm not oppossed to at all if we need it. I'm also wondering if we need to start more trial programs to get the software into the hands of more schools to get more feedback and start to build interest.
We're pursuing working with some vendors who already have relationships with schools in areas that have more money than where we've been selling lately to see what happens there. So far the vendors have been excited too.
Any suggestions would be most appreciated.