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Calling it quits? When do you think enough is enough HN?

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Calling it quits? When do you think enough is enough HN?

#1

Post by Stonewall9093 »

Hey HN. I'm a budding entrepreneur, with a team equally as enthusiastic as me. We're still in college, which makes things a bit different in various regards. Nonetheless, we've been working on a startup for about two and a half years now (www.criticrania.com).

We still like the idea, and think we have executed on the concept decently well. The problem? We have no substantial business plan to entice supporters, and we are experiencing the ever dangerous chicken and egg problem.

We always have more ideas, and we have the time, but when do you know when enough is enough?

Re: Calling it quits? When do you think enough is enough HN?

#3

Post by Stonewall9093 »

jnorthrop wrote: post #2

Spend some time to write a business plan and try with all you've got to pitch it. Success or failure that is a worthwhile learning experience.

Thanks jnorthrop.

I guess I should have added more detail. We've written out a full business plan, it's just very weak (knowingly). We've pitched a few different times and just finished up a Business Plan competition at our school.

It was a fantastic experience and we learned an absolute ton (a lot of it being how much we did wrong from the start, but still very valuable). It's just so hard to tell the difference between "quitting" and spending your time more wisely, i.e. on a new idea.

Re: Calling it quits? When do you think enough is enough HN?

#4

Post by silentscope »

You should love what you do. Idealistic, I know. But if you don't get up in the morning and don't feel a certain level of gut certainty that you like doing this, regardless of success, than re-evaluate.

The passion for what you do will lead to success. On that there is no question. How you define success is very much in the air. But if you're doing what you love, it really doesn't matter, does it?

Keep in mind that at the end of the day you are more valuable than the idea. You're still in college, it's early in the game. You can create new ideas, change the world in ways you haven't even thought of yet.

Re: Calling it quits? When do you think enough is enough HN?

#5

Post by silentscope »

silentscope wrote: post #4

You should love what you do. Idealistic, I know. But if you don't get up in the morning and don't feel a certain level of gut certainty that you like doing this, regardless of success, than re-evaluate. The passion for what you do will lead to success. On that there is no question. How you define success is very much in the air. But if you're doing what you love, it really doesn't matter, does it? Keep in mind that a…

oops, double negative.

Re: Calling it quits? When do you think enough is enough HN?

#6

Post by Stonewall9093 »

silentscope wrote: post #4

You should love what you do. Idealistic, I know. But if you don't get up in the morning and don't feel a certain level of gut certainty that you like doing this, regardless of success, than re-evaluate. The passion for what you do will lead to success. On that there is no question. How you define success is very much in the air. But if you're doing what you love, it really doesn't matter, does it? Keep in mind that a…

See and therein lies the problem! I love working on the idea (Far more than I like doing school, that's for sure). It's practically my baby. But of course I like my idea...

But you raise very good points. I am quite stuck on this one, as you can see.

"You can create new ideas, change the world in ways you haven't even thought of yet." - What if this one isn't it. When do I move on? Haha

Re: Calling it quits? When do you think enough is enough HN?

#9

Post by salemh »

Stonewall9093 wrote: post #3
jnorthrop wrote: post #2

Spend some time to write a business plan and try with all you've got to pitch it. Success or failure that is a worthwhile learning experience.

Thanks jnorthrop. I guess I should have added more detail. We've written out a full business plan, it's just very weak (knowingly). We've pitched a few different times and just finished up a Business Plan competition at our school. It was a fantastic experience and we learned an absolute ton (a lot of it being how much we did wrong from the start, but still very valuable). It's just so hard to tell the difference bet…

Are you validating any of these ideas with even 10x random strangers of your target demo? I mean with potential users vs pitching the plans to schools or potential investors.

5x different ideas x10 targets = 50x engagements, not out of the realm of an intensive time-suck. Could eventually lead to an alternate plan point of focus.

Re: Calling it quits? When do you think enough is enough HN?

#10

Post by AznHisoka »

If you've been working on this for 2.5 years, with little traction, I think that's more than enough. Noone is expecting Facebook-like success of course, but after 2.5 years, you should have at least a good thousand regular users a day (do you?)

I think the first rule is you need to build something people want. Focus first and foremost on that. It sounds easy, even too simple, but people make the mistake of doing the opposite.

For you, I don't know what people are getting of value from signing up for your site. They get to express themselves, but they can do that anywhere they go. How are you providing value to people? Why should they invest more than 5 mins in your site? In today's world, ppl have their fingers ready to click the back button. You need to come up with a compelling reason for them to stay.

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