What was the biggest mistake you made in your startup?
Ghulam Abbas
26 replies
Replies
Kabir@shownotes
Trust our VC to do the right thing!
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@shownotes What you mean Kabir bhai?
@abbas143official In my 2nd startup, we trusted a VC to not only provide continued funding but also bring major clients from their advertising agency relationships. They provided two customers and then demanded that we merge with one of their other companies and really wanted to steal our tech. So called "smart VC" was a nightmare for us. I learned hard lessons that round.
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@shownotes I'm sorry to hear about your experience with that smart VC. Navigating such challenges can indeed be tough.
Before partnering with a VC, conduct thorough research on their past investments, reputation, and business practices.
Keep your intellectual property secure and be cautious about sharing proprietary technology without proper legal protections in place. Learning from such experiences can strengthen your approach in future ventures.
@abbas143official Yep! Learned the lesson hard. Third company running 22 yrs without VCs and going well.
I’m seeing comments on VCs. That also brings me to talk about investors in general. Almost 90% of the time, their opinions are wrong. All these people do is take a bet on you by funding your startup. That’s it. They do not know your product, your market and your audience so taking their opinion for which direction to head with your product is the number one mistake you can make in later stages.
Talk to your customers, your team, have a vision, and answer the question “where do I wanna see my product in a few months/years?” yourself.
Thanks for the information see more
[url=http://www.google.com]see more[/url]
Hire loves one
For me, not taking payments from the start. I wasted 2 years and a whole beautiful project, just as a result of implying the wrong income strategy.
Nevermind now, I got precious experience! :)
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Proceeded with incorrect interviews so started to build product based on my view and idea, either than on customer pain
Launching soon!
@valentyna_zakharova Building a product based solely on your own ideas, rather than customer needs, can lead to challenges.
I overestimated my options a bit. It turned out that my co-founder and I can't work 16 hours a day without a day off for more than a month, because there are all sorts of unpleasant consequences. I had to slow down, but that's probably the case with all bootstrapped startups, although this one is far from my first. I was referring to https://www.watchfulai.co/
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@eugene_lipski It's common for founders of bootstrapped startups to overestimate their capacity and work excessively long hours, leading to burnout and other issues. Balancing intense work periods with proper rest and strategic planning can enhance productivity and sustainability.
@abbas143official I'm sure you've been in those shoes too. Yeah, hopefully we'll have work-life balance in our lives soon
Ah, the biggest mistake in my startup? Let's just say it involved trusting Excel to handle all our data like it was some kind of superhero. Spoiler alert: Excel had a kryptonite for large datasets!