3 ms·
I know I learned a ton my first time out (actually second, but first failure :), but only after a year or so of reflection (once the sting wore off and I could
by lux 17y ago
I know I learned a ton my first time out (actually second, but first failure :), but only after a year or so of reflection (once the sting wore off and I could see everything clearly and spend time thinking about it).
Unfortunately, my second time out I didn't encounter the same issues (probably because I learned from them) so the new issues we encountered we couldn't draw on what we learned to solve them anyway. Learned a ton that time too, so now I have experience with twice as many reasons for failure. I won't repeat those, but hopefully can draw on some of them when approaching future challenges.
The odds do go up each time. I lucked out and my very first company was successful (9 years and counting), but the next few endeavours weren't, even though the one was gaining traction (costs were rising faster than profits, didn't see the obvious ways of reversing that trend until too late), and the other was technically superior to other solutions out there (weak sales/marketing side, since the other two seemed to gain traction too easily, I took those things for granted that time out).
Now I'm doing my homework big time before leaping into the next venture, and setting more modest goals short term and stretching out my definition of success. Basically, I'm working on a 10-year plan on a music career with milestones along the way. I know it takes time and perseverance in this industry (as with any), but I do have a wealth of previous business experience to draw from and that is already helping in several ways. I don't believe we don't learn because I know I have.