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Few things that came through my mind reading that: 1. In average you're giving each project about a year. That's not really enough for determining if something
by flyinglizard 12y ago
Few things that came through my mind reading that:
1. In average you're giving each project about a year. That's not really enough for determining if something is good or not. It seems like when you're encountering the brick wall that's real world market penetration, you fall out of love with your venture and move on to the next thing.
2. You're focusing on very general problems where it seems like you either don't have a horse in the game (as you're not suffering from those problems personally) and don't have any kind of specialized domain knowledge.
That makes your job much harder. You don't understand the dynamics of the market, the competition or what users are looking for.
3. If you want to win in really big markets, you need to have a strong financial backing from great investors, and make world-class execution. Getting the right idea is never enough. Focus on smaller problems - or at least less alluring ones.
4. Being in the Czech republic doesn't help your ideas get traction, as you're somewhat culturally removed from the trendsetters and the networked individuals who could make your product popular.
5. You can - somewhat - use #4 in your favor by focusing on your local market (and to a lesser extent the EU market). But ultimately good products win globally, which is why its best to think smaller.
6. You may have prevented yourself precious experience and understanding of business processes by going with the startup game too early instead of getting some real world experience first.
7. Don't count on your admirable determination carrying you through. You can only stress yourself so much before something breaks. At some point you're going to need a success to your name. Going to venture #15 might not be enough.
Ultimately I'd advise you to go work for a successful startup somewhere like Berlin, London or ideally Silicon Valley. Go to a place where you can focus the same determination on your dayjob, learn and network. Save some money too.
You need a change. Different people, challenges and atmosphere. Your time and ambition are the most precious thing you have and between these two, one is lost forever and the other can irreparably disappear if siphoned too low. Now, making this change is hard.
The EASY thing, for you, is to start another venture (although it seems the other way around, even to yourself). Don't fall into the trap of starting yet another venture instead of changing your situation around and thinking of yourself as someone who does the hard thing, just because you chose entrepreneurship yet again.
Keeping the same course is always easier than changing things around.
- michalsobel 12y agoFirst of all, thanks for your detailed response! 1. Yes! That's exact. 2. You're right, of course. There was always bad reasons why to do some of the projects. The term „spray & pray“ is accurate. 3. Today I would do it differently. We made mistake on every corner we took. 4., 5. We wanted to go out of the Czech Republic, but that phase never happened. Of course, it should be the phase one. 6. This was an ego problem. We thought we're ready. How foolish of us. You're right. That's actually why I left the WeLoveMail (last project that is still in progress). There have to be some real change. But hey, thanks again for your advice! I really appreciate it.