3 ms·

My Startup Failed. F#*k.

• MarkTanamil 13y ago
  > After that moment we basically stopped talking to artists for a year and built (and rebuilt) the software until we thought it was acceptable. And there is the biggest mistake. Just throw a MVP together over a couple of months and invite some people to have a look. > Our first beta test was a disaster when Amazon (who was our payment processor) suspended our account for not complying with money transfer issues. No, it was a disaster because you were focused on money. You didn't need money, you needed feedback. Working with payment processing was a waste of time. > From that beta test we found out that our software needed to be rewritten to comply with Amazons terms. More importantly though, people really didn't really LIKE anything about our product. Ding! Ding! Ding! Better strategy: Release MVP. Whole thing is free. Collect feedback from close contacts, friends, networking etc (i.e. no spending money on advertising or wasting time with social media or SEO). Then implement features based on requests. Continue with this for quite a while until it has some noticeable improvements. Now go public, still remain free. Amass users. Collect more feedback. Amass users. Now you have something that is actually worth something and you have leverage. Next thing you know Justin Bieber is knocking on your door, he wants to throw a few million in and release it under his name. THEN the monetization can begin.