I met an entrepreneur recently who is approaching a similar market and product that I once did. Before meeting, he realized I had written a book, so read it beforehand. It resonated greatly for him. As we met, he had a few specific questions including: “if you could do it all over again, what would you change?”
There was a lot I would change as I’ve outlined on this blog and in Postmortem of a Failed Startup: Lessons for Success. There are always ways to improve. But one major lesson stuck out at me – start out smaller, more deliberate. Start out with a very specific product addressing a very specific pain.
This would invariably lead to quicker rollout of the product. This would lead to quicker feedback. This would lead to quicker iterations. This would lead to… success? I’m not sure, but I feel this approach would have been much smarter.
Success does not follow a formula. The most brilliant minds have failed. It’s critical to fail at times, too. But the approach to success can be tuned in to mitigate risk. I think my big take-aways after all these years also line up with being loved by customers (the product, at first) to create something wanted… needed. With that, I want to tackle opportunities with a focused effort and building something that enables my customers that also aligns with my vision in mind.
Looking back at your ventures, what would you do different?