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Ask HN: What was your biggest business mistake?

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21–23 of 23 posts

Re: Ask HN: What was your biggest business mistake?

#21
Getting into a business I didn't know enough about, that wasn't aligned with my core strengths and desires, in anticipation that I could make a stronger income than I could doing the things I actually loved. It was a very poor decision that I stuck with far too long. It nearly killed my spirit and took a huge financial toll on me and my family.

The decision to do this was the direct result of an ego that was out of check. I made a significant hourly rate for many years consulting (to one client - another mistake, btw) - when that contract ended, I didn't want to accept the lower rates and rejection found when trying to find high paying consulting jobs via the web. So, instead of adapting to the situation or finding creative solutions to it, I avoided it by doing something entirely different. VERY, VERY poor decision. I've been humbled greatly - which I actually think is a benefit of this experience.

I did learn a tremendous amount about people and business during this process, but it isn't one I would likely repeat with the benefit of hindsight.

Re: Ask HN: What was your biggest business mistake?

#22
This is hardly revelatory, these days; nonetheless:

Trying to "pay my dues" as expected and/or manipulated by an older generation particularly of middle-management. That may have been the way things worked for them, but more and more of the U.S. employment space doesn't work that way anymore and hasn't for well over a decade.

Employment in the U.S. is becoming de facto class based, and if you permit yourself a) to become over "classified", and b) to let such a role mis-direct your energy in inefficient directions, you can seriously screw yourself.

Neither am I a fan of the know nothing hotshots that e.g. were being parachuted in as excessively paid management consultants. But that resentment doesn't negate the above fact.

Look for the exceptional person who really is competent, and cooperative, and build your relationships that way rather than through whatever formal hierarchy. And keep yourself prepared to jump ship; don't paint yourself into a corner, especially financially.

Re: Ask HN: What was your biggest business mistake?

#23
post #12

I created a helpful product that 9 out of 10 users said they would recommend to a friend, with about 1,000 paying customers. I was too shy to market it or advertise it anywhere, though. I got dejected after being declined from YCombinator in Spring of 2007, and on top of that, my dad was laid off that August. I decided to make the program free to focus on a job I started, and I stopped maintaining it soon after. Anot…

if you're about to a make a third business mistake, then why not stop it before you do?
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