D
Deleted50669
Guest
Yet again, I've failed.
There are always lessons to be learned with each of these landmines, but this one hit deep.
In this episode, 404 violates the Commandment of Need. I've spent 7 months diligently developing a SaaS product that I told the market it needed, but not one that the market told me it needed. That is a fatal error.
I developed a web-based solution designed to guide young leaders through leadership skill development training. This idea came to me when I thought "Gee, there seems to be a lot of talk about millennial leadership disparity. Maybe I can design a scalable solution that helps them improve as leaders."
Good in theory, horrible in practice. People learn leadership through experience, and communication with other more experienced people. I ignored this fundamental fact, and went on to invest $3,000.00 in developing a piece of shit. Having recently been let go from a full time job, and now experiencing this, I am bitter, disappointed, and my self-esteem is in the dumpster. I won't quit, because I've got no quit in me, but it's back to the drawing board with my tail between my legs.
A few things I'll do differently going forward:
1) Build certainty that any business or product I'm building satisfies a real problem - not a problem I'm pretending is a problem.
2) Have more conversations with people. I am horribly introverted, and I am usually averse to social interaction. But it's the social interaction that allows people to uncover real problems. I'll need to swallow the social anxiousness and hit the streets to communicate with people now.
3) Stop drinking my own damn koolaid. I know I'm a smart, educated guy, but that means nothing in the world of entrepreneurship. I need to go back to a learning and growth mindset, instead of a "I have all the answers I need" mindset.
I deserve whatever ridicule I get from this post. But I do hope others avoid making the same mistake as I. Never rush into a hunch, and never act on a business idea through emotion. Validate the demand, or validate the lack thereof.
There are always lessons to be learned with each of these landmines, but this one hit deep.
In this episode, 404 violates the Commandment of Need. I've spent 7 months diligently developing a SaaS product that I told the market it needed, but not one that the market told me it needed. That is a fatal error.
I developed a web-based solution designed to guide young leaders through leadership skill development training. This idea came to me when I thought "Gee, there seems to be a lot of talk about millennial leadership disparity. Maybe I can design a scalable solution that helps them improve as leaders."
Good in theory, horrible in practice. People learn leadership through experience, and communication with other more experienced people. I ignored this fundamental fact, and went on to invest $3,000.00 in developing a piece of shit. Having recently been let go from a full time job, and now experiencing this, I am bitter, disappointed, and my self-esteem is in the dumpster. I won't quit, because I've got no quit in me, but it's back to the drawing board with my tail between my legs.
A few things I'll do differently going forward:
1) Build certainty that any business or product I'm building satisfies a real problem - not a problem I'm pretending is a problem.
2) Have more conversations with people. I am horribly introverted, and I am usually averse to social interaction. But it's the social interaction that allows people to uncover real problems. I'll need to swallow the social anxiousness and hit the streets to communicate with people now.
3) Stop drinking my own damn koolaid. I know I'm a smart, educated guy, but that means nothing in the world of entrepreneurship. I need to go back to a learning and growth mindset, instead of a "I have all the answers I need" mindset.
I deserve whatever ridicule I get from this post. But I do hope others avoid making the same mistake as I. Never rush into a hunch, and never act on a business idea through emotion. Validate the demand, or validate the lack thereof.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
