[deleted]
I Lost over $200k
51–57 of 57 posts
Re: I Lost over $200k
#52I like #7 very much. One should talk a lot about your concept before building it. Don’t worry about anyone stealing your idea.
Very true. One can copy the product/idea but cannot copy the process and distribution.
Also, people usually have their own unproven ideas that they would explore if they had time. Copying a proven idea (perhaps with small tweaks, etc.) is much more likely.
Re: I Lost over $200k
#53> Today, I am sharing the learning lessons so that you do not make the mistakes I made. > 1. Do not trust people blindly, especially your team. > This was the number mistake my cofounder Oscar, and I made. We trusted our team blindly. Your number-one mistake was trusting your team? That sounds like it could be finger-pointing downwards by a leader, so you might want to expound, or reconsider. For example, even if the…
Definitely its my fault, I take the blame as a Founder. Hence, I am sharing my learning and not pointing fingers at someone else. There is a difference.
Your big mistake as a leader was trusting the people you were leading?
Re: I Lost over $200k
#54Earlier quoted context omitted.
Definitely its my fault, I take the blame as a Founder. Hence, I am sharing my learning and not pointing fingers at someone else. There is a difference.
Your big mistake as a leader was trusting the people you were leading?
The word here here is "BLIND" trust.
Re: I Lost over $200k
#55I’m sorry that happened - that was hard to read :( In my opinion, in ANY relationship if someone demands full control of all communication, then they are trying to hide something.
You rightly stated it. This was a big learning lesson for me.
Re: I Lost over $200k
#56tl;dr: The author is sharing lessons learned from their experience building and launching a product. They advise against building an all-in-one tool and recommend testing and selling to at least 1,000 paying users before building more. They also suggest following a systematic launch cycle and validating ideas with paying customers before building. They also advise building an audience before building a product, splitting large visions into smaller projects, and focusing on the most requested feature by buyers in the early stages. They mention mistakes they made, including blindly trusting their team, which led to delays and stability issues, and ultimately, a loss of over $200,000 and depression. They also suggest the importance of QA during the early stage.
Good bot yes yes, I'm working on a news summary thingo for myself and this was in my open tabs.
Re: I Lost over $200k
#57Sorry to hear about that. We also bootstrapped our product and put about $60k in it. We built a product within a week and went out to sell. Having a technical founder(that doesn't take salary + someone you have known for years)is important. I understand the stress. Don't let them bring you down. You will come back stronger.