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I lost $209k of my own money trying to start a business

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Re: I lost $209k of my own money trying to start a business

#11

You mention to not build the website, iOS app, and Android app all at once before getting market fit. Which of the three would you start with to quickly iterate and get feedback? When you mention that you had to often walk into like a scuba shop to try to get a sign on, were people more receptive if you 'had an app for that' already?

I mean, everyone can use a website. I've seen people launch with iOS first, but then it's like, call me when you're ready for everyone else

Re: I lost $209k of my own money trying to start a business

#12
There is something I've been repeating to people younger than myself lately (and I'm only in my early 30s): don't be a contrarian in your career. The so-called mainstream is mainstream because it works.

Anyway, why isn't the main lesson "not doing a travel business in the middle of a pandemic where we are trying to implement world-wide lockdown for the first time in human history" ?

Re: I lost $209k of my own money trying to start a business

#14
> I'll never depend on a 3rd party dev as the main means of production again.

He spent over half of his money on it as well.

I've had more than one person come to me with their business idea, and they have a terrible website (or app) that they have spent 100, 200, or even 300k on. And it doesn't even work.

If you aren't staring out WITH customers, you either have to code it your damn self, or have a technical co-founder.

It also makes me realize that I'm in the wrong business.

Re: I lost $209k of my own money trying to start a business

#15

The first heading reads “marketplace for last-minute tours and activities”, followed by a paragraph that says “industry where 80% of bookings were still done using pen and paper, months ahead of time” How is something done both “months ahead of time” and “last-minute”?

“Normally, it’s done manually, and requires months off notice. Be we can do it digitally, on short notice”

Re: I lost $209k of my own money trying to start a business

#17

You mention to not build the website, iOS app, and Android app all at once before getting market fit. Which of the three would you start with to quickly iterate and get feedback? When you mention that you had to often walk into like a scuba shop to try to get a sign on, were people more receptive if you 'had an app for that' already?

Do Flutter and cover all 3. Okay Flutter Web is pretty bad, but if you are cash strapped and need to move fast, Flutter is the way to go.

I expect more and more startups to embrace Flutter, it is easily currently the best solution on the market (for 99% of app ideas). Yes native will always be better, but if you are a startup, your focus should be building an MVP and getting to product-market-fit as fast as possible at the lowest cost.

Re: I lost $209k of my own money trying to start a business

#18
post #9

I have a very high level of scepticism towards non-technical founders without deep pockets: 1. There's an agility to being able to change things yourself, at 2am if necessary. That's very important to startups. 2. There's a discipline to not accruing unreasonable technical debt of the type that will sink you two years in that you can't expect from someone who doesn't deeply care. 3. Managing devs generally requires u…

Yep, and to his credit. This is listed as Lesson 4. "Don't make everything reliant on code if you can't code."

Re: I lost $209k of my own money trying to start a business

#19
Starting an App Marketplace without knowing how to code and without being a salesman.

What could go wrong?

Add to that not having an original idea and not even willing to test the market-fit beforehand.

Startups are looking everyday more like the stock market: plenty of suckers read y to empty their pocket into a few giants who take all the profit.

Re: I lost $209k of my own money trying to start a business

#20

The first heading reads “marketplace for last-minute tours and activities”, followed by a paragraph that says “industry where 80% of bookings were still done using pen and paper, months ahead of time” How is something done both “months ahead of time” and “last-minute”?

The status quo was "months ahead of time", but their startup idea was to cater to "last-minute" types of travelers, and challenge that status quo.

Have a sudden urge to have a nicely planned and well-put together weekend in a new cool place? Too much of a hassle to deal with yourself, maybe, but a whole lot nicer if you can just see what someone has packaged for you.

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