My app failed: lessons learned

I imagine their churn is fairly high, but they can also capitalize on new graduates or folks looking to up their game to keep revenue flowing in so that by itself is only part of the story. Likewise their active count maybe falls off a cliff after 4-6 months for users who actively engage with platform, and I’m sure some of them make the purchase and either never use it or give up fairly quickly.

To toy with your question specifically let’s use LC as an example. Some percentage of users need to be engaged and referring it via word of mouth for it to be validating. As for retention and engagement, once you have a decent cycle of customers coming in that becomes a game psychology. Think Reddit emailing you on every comment you get, notifications, gamey mechanics like Robinhood, or some other mechanism to reinforce behavior

The thing is, having a ton of competitors in the space means you will have to work extra hard for your app to be seen and then picked. "Lesson 4: Distribution" in the post is probably the most important thing here. Marketing and SEO are huge in terms of getting people to know about your app.

I have an app of my own in the iOS app store and the times I've had jumps in sales have been tied to either me posting about it somewhere or someone else posting about it on their own. If I don't get the word out, nobody is going to know about my app.

Like the poster, my app is in a crowded space (flash cards), and so a search in the app store doesn't even show my app, at least not until you scroll for a minute or so...

> So the lesson is that while all businesses have a product, not all products are a business.

And even products that look successful may not actually be good business, if they have negative net income and surviving on venture capital that eventually runs out.

By heading in the right direction, I mean that I've built the 'minimum viable product' entirely in one year. Now it was time to go after putting it in the market somehow, search for a venture capitalist or anything like that. But, no, we didn't even try.

We had many features that other sites didn't have back then. Such as the 'Google-like' search with auto-complete, auto-refresh appeal, etc. not so common back then, but we never went out after a single potential consumer or investor.

I was in a situation that I had to stop developing on my own and focus on other things in my life. However, my business partner didn't want to stop adding new features. He wanted a few more things that I could achieve in a month or two to start looking for an investor, but I just didn't have the throughput (no time due to new endeavors + saturated), and things died off.

I blame him for chickening out when we had possibly a tremendous competitive advantage that might make it an easy sell. I blame myself for not doing my own research for investors once I noticed that we reached a point of stagnation.

Context: He had great designing ideas but was not technical. I wasn't good at communication back then and counted on him too much to make this happen. If this was today, it wouldn't happen again, thanks to my experience now.