What My First Failed Startup Taught Me — and How I Finally Got It Right 20 Years Later

They say that time is everything – and this is a lesson I have learned difficult.

Today, I am making a startup that I really believe. But the fact is that the journey did not begin last year. It started more than 20 years ago – a big idea, wrong time and some painful but essential lessons I am doing now will create everything.

How did it start

In 2007, the Craig List and LinkedIn were impressed by the platforms like them, I came out to live a new type of online platform. I had a strong concept, but not just technical skills to make it. So I partnered with a close friend who can fill this gap.

At first we were excited. But over time, cracks broke out. Finally, we had to walk.

It was disappointing, even disastrous. But I never stopped believing the basic idea. Instead, I paused to consider what went wrong, what I learned, and what I need to do next time.

This reflection helped create both of them and how I work today.

Related: When my start failed, I was disappointed and left in tears. Here are the lessons that helped me resume and launch three successful companies.

What i learned (for the first time)

• Never stop learning: Your best insights often come from others. Tilt in your network – teachers, colleagues, even critics. Learning from others and sharing your experience creates a powerful loop of development.
• Be ready for adaptation: Even despite a good idea, you have to be flexible. Whether you are launching or scaling, being able to axis when needed, is not a weakness – it is a survival skill.

Getting ok the second time

• Start with the explanation: The joint vision is important. Before launching, make sure you and your co -founder (individuals) are linked to goals, character and long -term expectations. Initially misunderstandings will cost you later.
• Be honest with yourself and your team: Ask hard questions: Why are we doing this? What are the problems we are solving? For whom are we solving it? If your answers are not similar, the time has come.
• Culture is just as important as code: Yes, you need technical skills. But you also need people who share your values, cooperate well, and develop with the company. Don’t waste cultural fit – it makes or breaks teams.

If you make it, will they come?

This time, I contacted things differently. I just didn’t think that the idea was good – I experienced it. I asked:

Are we solving a real problem?
Does the market need it now?
What is our unique value proposition (UVP)?
Why would anyone choose us?

The customer’s first thinking became the basis. Instead of building what we considered valuable, we built what the market actually needs – and ensured that our solution is related.

Getting strategies: What every founder needs to consider

• Do your homework: UUnderstand your industry, track trends, study user behaviors and know your competition.
• Make a strategy: Write a business plan. Predict your financial affairs. Learn your funding options.
• Make the business regular: rExtecrate your company, get your EIN, licenses, permits and make your legal basis properly.
• Create the right team: Use your network to find people associated with your mission and culture.
• Sell ​​Vision: Learn your customer, improve your message and make a product or service they really want to win.

Related: 10 lessons that I learned from failing my first acquisition

The final views

Be aware of sales and market. Learn your audience – where they find information, what problems they have to do, what resonates with them. Your customer’s acquisition strategy should be informed not only through real data but by real data.

And the most important thing is to keep the open mind. Privacy can come from anywhere – conversation, failure, a new connection. The more you listen, the more likely you look at the ideas that change these games.

It takes time to build a meaningful thing. For me, it took more than 20 years. But every blow, Mustap and Restart has made this trip – and this version of Startup – infinite more found and more real.

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