What was the biggest mistake you made in your startup?
Ghulam Abbas
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mjkabir@deleted-3351664
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Paillor
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@shownotes What you mean Kabir bhai?
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Paillor
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@shownotes I'm sorry to hear about your experience with that smart VC. Navigating such challenges can indeed be tough.
Before partnering with a VC, conduct thorough research on their past investments, reputation, and business practices.
Keep your intellectual property secure and be cautious about sharing proprietary technology without proper legal protections in place. Learning from such experiences can strengthen your approach in future ventures.
AIWatchfulCompanion
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I overestimated my options a bit. It turned out that my co-founder and I can't work 16 hours a day without a day off for more than a month, because there are all sorts of unpleasant consequences. I had to slow down, but that's probably the case with all bootstrapped startups, although this one is far from my first. I was referring to https://www.watchfulai.co/
Paillor
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@eugene_lipski It's common for founders of bootstrapped startups to overestimate their capacity and work excessively long hours, leading to burnout and other issues. Balancing intense work periods with proper rest and strategic planning can enhance productivity and sustainability.
AIWatchfulCompanion
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@abbas143official I'm sure you've been in those shoes too. Yeah, hopefully we'll have work-life balance in our lives soon
Paillor
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WebCurate
For me, not taking payments from the start. I wasted 2 years and a whole beautiful project, just as a result of implying the wrong income strategy.
Nevermind now, I got precious experience! :)
Paillor
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@hosseinyazdi Thanks for sharing bro!
WebCurate
@abbas143official You're welcome Ghulam! 😊
Proceeded with incorrect interviews so started to build product based on my view and idea, either than on customer pain
Paillor
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@valentyna_zakharova Building a product based solely on your own ideas, rather than customer needs, can lead to challenges.
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Ah, the biggest mistake in my startup? Let's just say it involved trusting Excel to handle all our data like it was some kind of superhero. Spoiler alert: Excel had a kryptonite for large datasets!
Paillor
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I’m seeing comments on VCs. That also brings me to talk about investors in general. Almost 90% of the time, their opinions are wrong. All these people do is take a bet on you by funding your startup. That’s it. They do not know your product, your market and your audience so taking their opinion for which direction to head with your product is the number one mistake you can make in later stages.
Talk to your customers, your team, have a vision, and answer the question “where do I wanna see my product in a few months/years?” yourself.
@sreenington this is great response!
Paillor
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@sreenington Absolutely! Thank you!
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Hire loves one
Paillor
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@ali_hassan95 Ohhh