Share your failure stories !
Olivier
2 replies
Only reading about success stories can distort your perception because of survivorship bias.
Those of you who launched a product and experienced partial or complete failure :
- What happened ?
- What did you do wrong and what did you do right ?
- What will you do differently on your next launch ?
Replies
Tammy Martin@tammy_martin1
When I launched my first product, I experienced a mix of partial success and significant failure, primarily due to several critical missteps. Initially, I underestimated the importance of market research and didn't fully understand my target audience, leading to a product that didn't quite meet their needs. Additionally, my marketing strategy was underdeveloped, relying too heavily on assumptions rather than data-driven insights. On the bright side, I did manage to create a high-quality product and built a robust supply chain, ensuring reliability in production. For my next launch, I will focus heavily on comprehensive market research to truly understand my audience, and I will develop a more strategic, data-driven marketing plan. Learning from these experiences and incorporating insights from successful platforms like https://oakcover.com which provides valuable resources for product development and marketing strategies, will be crucial in avoiding past mistakes and achieving greater success.
Share
My failures came in the early part of my journey due to lack of experience in judging people correctly.
First fail: got offerred 50% in a San Diego based startup whose core tech was built by me. i passed as the founder was not from tech world and being an young engineer with already published book on programming my ego told me I needed a tech co-founder at the least. Three years later, the startup eas acquired by a public tech company. My cuy would have been $12M post tax.
Second failure: Got my compmay VC funded but when my team built the tech in record time, the VC, which was also feeding us enterprise customers due to their ownership of the 5th largest advertising agency on the world, wanted to merge us with another company where they had minor stake and make me combined CTO but leave two of my partners in passive role. We refused and had to sell the tech to get out clean. Should have been more careful getting the the bed with a vicious VC. Another failure to judge partners.