After 6 FailCon conferences in 4 cities around the world, we’ve learned a lot about common startup mistakes and how to avoid them. We’ve heard from dozens of industry leaders and seen common patterns in failures. Here’s 3 key takeaways we see repeated every year:
1) Trust your gut. Early in the process, many that their co-founder isn’t working out, their outsource team doesn’t get it, or their design isn’t clicking, yet they don’t do anything about it. “It will set me back too far,” they say, “or damage my reputation with investors”. Big mistake. It’s tough to be the dissenting voice, but it will only get worse the longer you wait.
2) Good enough is better than perfect. Too many teams take too long to launch, toiling over miniscule problems, without even seeing if the basic idea sells. Just ship it! Users are forgiving, and you can’t make any good changes without solid metrics to build from.
3) Don’t love the solution; love the problem. Many founders find one solution to a problem, build it, and become so passionate about that solution that they are unable to see alternate possibilities when it isn’t working. They iterating in small pieces, refusing to acknowledge that it just may be the wrong product. Keep an open mind and never fall totally in love with your solution; it will change drastically as it develops.
Interested in learning more? Join us in San Francisco on October 22nd to glean lessons from industry leaders like Chip Conley, Braden Kowitz, Danielle Morrill, Ben Huh, Cindy Alvarez and Sean Ellis. Register for your ticket now at http://thefailcon.com and save 15% with the code “grow”.