Seconded. Start smaller. The simple concept to remember is: if you need $13M to start this business, it's a business you can't start right now; it's instead an opportunity for larger businesses.
We had a similar problem: we started with "let's build the city of the future", which would have probably required a large capital (of course, we wouldn't have done it alone, but still...), and ended up focusing on creating innovation at the financial layer of real estate, which we started with a few 100,000s of $$.
"The simple concept to remember is: if you need $13M to start this business, it's a business you can't start right now; it's instead an opportunity for larger businesses"
True. I should look at the smallest thing that I can do that can provide value and that can somehow pivot into a bank.
We had a similar problem: we started with "let's build the city of the future", which would have probably required a large capital (of course, we wouldn't have done it alone, but still...), and ended up focusing on creating innovation at the financial layer of real estate, which we started with a few 100,000s of $$.
Doing good so far.