TREX vs Journ
It has been four months since Martin and I started with TREX. Compared to the six months with Journ, things have moved way faster. One of the reasons for the accelerated workflow was because we have reframed our working process since Journ, and has optimised it a little. Plus, having an office space for work meant that back-and-fourths are now immediate rather than once a week.
Besides the speed, one significant difference is the scope that we’ve had to cover. While Journ was an idealistic, let us build and perfect a product, funds-will-come-later kind of thinking, TREX is a lot more holistic as a business, which made me realise our shortsightedness with Journ.
Having gone through a whole round of business planning with TREX, there were many things that we did not even accomplish with Journ. These include
- A thorough market analysis (of market size, segments, characteristics)
- A competitive analysis (not to even include SWOT, or Porter’s model)
- A market penetration strategy and marketing communication strategy
- A sustainable revenue model with revenue and cost projections
On hindsight, the biggest problem for Journ was the sustainable revenue model. And the reason for that problem, was a lack of experience and advisors/mentors. Nonetheless, it was also because of that, that led us to seek sustainable full-time options and landed us with TREX.
So yep, now we are operating faster, more efficiently, and more holistically, with a common end goal in mind. TREX is still in product development phase, till end August. Stay tuned.