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  2. Why did your business fail?

Why did your business fail?

Simon🍋
4 replies
They say we learn from our mistakes, what was the one that made you fail?

Replies

Abhimanyu Kapoor
Launching soon!
Lack of vision plus lack of effort for distribution. I thought I would have an idea to launch it, and then it would pick up, but it's not always like that. P.S. I would love to get your thoughts on the discussion that I recently posted and your views on it. - What’s Missing in Your Favourite Startup Newsletters?
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MoneyVision
MoneyVision
- Product-Market Fit I think we did wrong what all first-time founders do wrong: We just focused on building a product. We've put a lot of craft and effort into building a great SaaS product. And it was great! We loved it, and everyone we showed it to loved it. But there was not an actual need. We thought that if we built a well-made product, people would like it and buy it. We were so wrong. So, note to myself: First find an actual pain that exists, then find users and then, only then, build the thing.
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Brandon
Riffo
Riffo
I didn't clearly identify the key value points for my paying users from the beginning. Many times, implementing product features doesn't necessarily mean solving problems at the truly valuable touchpoints.
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Samuel Parker
Lack of product-market fit was a big one for me. Spent too much time building something I thought people wanted vs deeply understanding the customer needs first. Also underestimated the importance of marketing and getting the word out early. Doing things that don't scale in the beginning to get traction is key. Re: your newsletter post - I'll check it out and share thoughts!
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