How can I tell if I am failing at my entrepreneurial venture or start-up? • Hacker News Board

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#11

Post by jkresner » Wed, Mar 16, 2011, 3:48 PM UTC

From two of my own baby ventures. Defining success is only a tool to keep you temporarily focused because the more you grow the bigger your idea of success becomes and evolves. As Entrepreneurs we are driven people who always strive to get bigger and better as we improve.

It is those people that only see 12 months or 2 years through an idea that often fail. The realization that comes with experience is that if you want anything to be HUGE is takes more than 2 years. I'm really only coming to grips with that after 5-6 years on naively planning and following dreams.

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#12

Post by macournoyer » Wed, Mar 16, 2011, 4:19 PM UTC

"free customers"? Leads or prospects perhaps.

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#13

Post by dsl » Wed, Mar 16, 2011, 4:24 PM UTC

Find the meaningful stats in your company (customer churn rate, monthly revenue, etc) and show them to your investors.

If you are doing a bad job, they will scream bloody murder. If not, they don't care, and you are doomed anyway.

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#14

Post by bigsassy » Wed, Mar 16, 2011, 4:27 PM UTC

bryanh wrote: post #8

I think that in the beginning you really have to redefine success as: "Am I Making Progress?" After lots and lots of progress and zero results, then you are probably on the verge of failure.

No, no, a hundred times no. "Am I Making Progress?" is the worst question you can ask yourself. It results in answers like:

"I've decided on which web framework to use, so yes."

"My tests now have 100% code coverage, so yes."

"I added a new feature that I think may or may not help 1% of my hypothetical customer base, so yes."

As someone who hasn't launched yet, it's easy to wrap yourself in the security blanket of "progress". But progress that doesn't involve customers paying you more money than yesterday is bullshit.

/me leaves to lock himself in his office until he launches.

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#15

Post by cenedella » Wed, Mar 16, 2011, 4:31 PM UTC

bigsassy wrote: post #14

bryanh wrote: post #8

I think that in the beginning you really have to redefine success as: "Am I Making Progress?" After lots and lots of progress and zero results, then you are probably on the verge of failure.

No, no, a hundred times no. "Am I Making Progress?" is the worst question you can ask yourself. It results in answers like: "I've decided on which web framework to use, so yes." "My tests now have 100% code coverage, so yes." "I added a new feature that I think may or may not help 1% of my hypothetical customer base, so yes." As someone who hasn't launched yet, it's easy to wrap yourself in the security blanket of "p…

you're entirely right bigsassy. the very polite woman in my post was definitely making "progess" - progress on her studies to create plans to set a schedule to discuss launching a site.

launch, launch, launch, launch.

marc

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#16

Post by rokhayakebe » Wed, Mar 16, 2011, 4:32 PM UTC

bigsassy wrote: post #14

bryanh wrote: post #8

I think that in the beginning you really have to redefine success as: "Am I Making Progress?" After lots and lots of progress and zero results, then you are probably on the verge of failure.

No, no, a hundred times no. "Am I Making Progress?" is the worst question you can ask yourself. It results in answers like: "I've decided on which web framework to use, so yes." "My tests now have 100% code coverage, so yes." "I added a new feature that I think may or may not help 1% of my hypothetical customer base, so yes." As someone who hasn't launched yet, it's easy to wrap yourself in the security blanket of "p…

I think progress means : How many users, pageviews, leads (or whatever other metrics matters to your bottom line) you are adding daily/weekly/monthly.

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#17

Post by cenedella » Wed, Mar 16, 2011, 4:32 PM UTC

pxlpshr wrote: post #5

Once a year it often feels like your business is about to fail until it truly reaches the point of a sustainable business. I think what separates real entrepreneurs from wantrepreneurs is how they handle the barriers and low periods that are natural with any startup.

only once a year pxl? that's better than i did! :)

marc

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#18

Post by cenedella » Wed, Mar 16, 2011, 4:33 PM UTC

chopsueyar wrote: post #9

cenedella wrote: post #4

Earlier quoted context omitted.

Awesome! You are learning the lessons well... ;)

How did you get the illustration of yourself (on the right side of your blog)?

It is a Photoshop effect. Fortunately, if you focus on getting real paying customers, you can eventually afford people who are better and smarter than you and know how to create cool effects!

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#19

Post by bryanh » Wed, Mar 16, 2011, 4:34 PM UTC

bigsassy wrote: post #14

bryanh wrote: post #8

I think that in the beginning you really have to redefine success as: "Am I Making Progress?" After lots and lots of progress and zero results, then you are probably on the verge of failure.

No, no, a hundred times no. "Am I Making Progress?" is the worst question you can ask yourself. It results in answers like: "I've decided on which web framework to use, so yes." "My tests now have 100% code coverage, so yes." "I added a new feature that I think may or may not help 1% of my hypothetical customer base, so yes." As someone who hasn't launched yet, it's easy to wrap yourself in the security blanket of "p…

I totally agree, but we're on different wavelengths here. I've always had the impression that launching was the first thing you did, and progress was what happened after that.

And then there is that whole thing about results...

Re: How can I tell if I am failing at my entrepreneurial venture or start-up?

#20

Post by rokhayakebe » Wed, Mar 16, 2011, 4:50 PM UTC

cenedella wrote: post #17

pxlpshr wrote: post #5

Once a year it often feels like your business is about to fail until it truly reaches the point of a sustainable business. I think what separates real entrepreneurs from wantrepreneurs is how they handle the barriers and low periods that are natural with any startup.

only once a year pxl? that's better than i did! :) marc

I agree. I think it is more like 99 times/day. Luckily the one time you feel like you are going to make it, it's give you enough high to not worry about the other 99.