4 ms·
rajacombinators advice is probably the best on here TBH. Always remember this: nearly everyone is bullshitting you. What I mean by that is a very small number
by arudland1987 9y ago
rajacombinators advice is probably the best on here TBH.
Always remember this: nearly everyone is bullshitting you. What I mean by that is a very small number of people are actually worth listening to. Look at these comments on here. I would disregard 99.99% of the advice you receive. Ben Horowitz has a great story of this, when he finally sold Loudcloud and came to find out everyone he spoke to during the hard times was full of shit and ended up going bankrupt. Be very careful who you listen to.
Now - the truth is 9 months is not enough time, this fail fast approach is complete BS IMHO, you need 5-7 years to make something work. Unfortunately LEAN has completely screwed with what people think is required. Now when I say 5-7 years, I don't mean 5-7 years on the same idea. I mean 5-7 years for the LTD/LLC/Inc to get to cash flow positive. So this could be pivot numero 50 by the point you get there. Fundamentally you have to rationalise your product the following way, are you really ADDING value (people are receiving more than they pay for the product/service) and do your potential customers actually give a shit. Things are much easier when customers really really love your product, I know it's obvious. But it took me years to stop listening to my own BS. As founders we rarely see the 100% truth due to the failing of our biases.
Giving back capital to investors is the last thing you should ever be thinking of doing. I would cut every single cost down to near zero (in the biz) and make sure you're own personal expenses are extremely low ($1k-1.5k/mo). That way you have time to make this work.
NEVER EVER GIVE UP.