I spent the last year building a Software Agency. These are 3 big mistakes I made. What are yours?

Question

1: Product has to be the best, especially when there's competition. You cannot afford to be sub standard in any way, or you're just going to have a struggling business. Initially, I didn't realise how hard this was.

2: Do the obvious things, that you know you should be doing. Reply to leads faster, spend more time marketing, etc. – you actually know what to do a lot of the time. Sometimes, I didn't do those things.

3. Celebrating too early / assuming people will pay you. Too many times, people turn back last minute, or cancel things halfway through, and leave me unpaid. It happens, and it's not fun.

Christopher Nguyen · Accepted Answer

@shajedulkarim_ Best wishes for you 💪

Bryan McAnulty · Answer

Not turning down clients who were obviously going to be trouble because the project was exciting and the money was great. Learned that it isn’t worth the headaches.

There are always more clients out there, so avoid the ones that will cause problems.

Shajedul Karim · Answer

@joao_nina_matos 🫶🏻

Shajedul Karim · Answer

@semigrownkid yes mate, we are a team!

Shajedul Karim · Answer

hey there, mate, appreciate your honesty and reflection. let's unpack this a bit.

1. on striving for the best product: indeed, it's crucial. but remember that 'best' is often subjective and context-dependent. your product needs to solve a problem effectively for your target audience. knowing them deeply can help align your version of 'best' with theirs.

2. on doing the obvious: yes, the basics are foundational. but, it's worth noting that as we grow, what's 'obvious' can change. remain open to the possibility that what seems obvious today might evolve tomorrow.

3. on payment uncertainties: it's tough, no doubt. maybe set up a clear payment plan or require some upfront payment? it could give you some security and set expectations with the client.

the beautiful thing about mistakes is that they offer a chance to learn, iterate, and grow. so keep going, keep growing. 🚀

Italo Costa | System Developer · Answer

I'm wanting to go down this path. Thanks for sharing your journey.

Akanksha Singh · Answer

Thank you for sharing your journey!!

Working on my upcoming AI product and here are mine:

1: Acknowledge the market's needs and pain points to ensure the product meets real demands effectively.

2: Strive for consistent improvement and embrace feedback to fine-tune product.

3: Plan for scalability and potential challenges in user adoption and monetization to stay prepared.

Answer

I appreciate you sharing your experience, João! It's indeed a learning curve. In my journey, here are three mistakes that resonate with me:

1. In the early stages, I didn't prioritize clear communication within the team, leading to misunderstandings and delays. Communication must be a cornerstone.

2. Focusing too much on acquiring new clients instead of nurturing existing relationships caused some missed opportunities for growth and referrals.

3. Trusting verbal agreements led to some payment disputes. Having proper contracts and clear terms became essential in avoiding these issues later on.

The lessons learned from these mistakes are invaluable, and they have shaped the way I approach business today.

João Nina Matos · Answer

@italo_costa no problem, follow me on twitter if you like, since I post more updates there :) https://twitter.com/joaolucas_nm

João Nina Matos · Answer

@shajedulkarim_

1. Yeah, ultimately 'best' is defined by listening to your users. They vote with their dollars and words on what's working and what's not.

2. Most of the time, you know what to do, if you're struggling to grow– you can be your own coach

3. yes, we did payment plans & upfront payments– the missing payments were often when clients started, but didn't finish projects, and stopped paying halfway through.

But yes, I'm putting my mistakes here so others can avoid them

João Nina Matos · Answer

@shajedulkarim_ @semigrownkid thank you!

João Nina Matos · Answer

@sarvpriy_arya still operating!

Kunal Mehta · Answer

Congratulations on building your Software Agency! Learning from mistakes is essential for growth. As a fellow co-founder, I understand the challenges you might have faced. My top three mistakes were underestimating the importance of market research, not prioritizing customer feedback, and scaling too quickly. Sharing our experiences can benefit both of us. Let's connect on Product Hunt, and I'd be thrilled to be there to support you when you launch your product. Looking forward to learning more about your journey!

Apostolos Toptsis · Answer

Great insights

Sarvpriy Arya · Answer

So is it still operating, or did you end up closing it?

I spent the last year building a Software Agency. These are 3 big mistakes I made. What are yours?

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