For some context, my product is a loyalty program for bars and restaurants based on Facebook's check-in. I talked with 50+ restaurant owners, and social proof is very important. But i also learned that no restaurant is totally satisfied with my competitors' products. I learned where I need to perform (final customer's adoption, as it is a B2B2C product). And I am testing my premises on these 5 clients. These next two months will be crucials to validate my business. I actually put a hold on sales to take good care of these clients. If in two months there are willing to pay for it and let me put their logo and cases on my marketing material, then I have a business. If not, then it is time to quit (or pivot). Either way, I still need a month or two, at least, to know if it is a good idea (or if I am good enough executing it). So I am taking this angel money to validate a promising idea. Sound exactly what angel investment is designed for.
This is something I worry, but I am still convinced it is not time yet to quit or pivot. I have 5 clients: 3 are on a 3 months free-trial, 2 are paying about $80/month, starting in January.
You will eventually come to learn that your time is precious, and that wasting it on an idea that can't be made to work is worse than failing to make one (of many possible) viable ideas succeed.