Do you know, when to stop making a product?
Slava Grimalsky
3 replies
If you read startup advice and success stories, you will find two major systems of thought:
1. Never stop doing what you already started
2. Know when to stop and change direction
How should we never stop while being ready to stop at any moment? How do you find the balance here?
Replies
Imran Razak@imran_razak
I think you know when to stop when you aren’t seeing the users come in but that necessarily isn’t when to stop it’s more so you might have to pivot, dig deeper and talk to more customers (which a lot of people don’t do) and figure out how else the product can evolve. So technically you don’t stop, you evolve. You stop, recalibrate, rethink, go back to the drawing board and try again.
Share
Important metrics to look at are:
- cash burn: how much do you burn per month to maintain the product?
- runaway: how long can you afford to maintain the product?
- retention: if your product has bad retention it will be hard to scale.
If your product has bad retention and you don't know how to improve it, I recommend to kill the product.
Knowing when to stop making a product is crucial in the startup world. Balancing persistence with adaptability is key. Stay committed to your vision but be willing to pivot if needed. Remember, it's all about finding that sweet spot between determination and flexibility in the ever-changing tech landscape.