- Thread starter
- #31
To count all of my entrepreneurial ventures, this business has been my fifth attempt over a period of around 3-4 years.
I have failed to make any sales from this business. Why? I will outline that below.
Although painful and disheartening at times, my experience has taught me many lessons and skills. My direct time investment into this business has been roughly 530 hours over a period of 13 months. Monetary investment = USD $2149.59
Lessons I have learned from building this business
Here is a quick list of some go the larger lessons I have learned, interesting “I knew” all of these before starting. These are all clearly written in TMF , knowing and application are two different animals.
1) Identify a customer need first. ITS ALL ABOUT THE CUSTOMERS.
2) Be prepared to spend at least as much energy/time on the marketing of a product as you spend on creating the product.
3) Your product is nothing without good marketing.
4) Best not to talk to most people about your projects, the vast majority stare back at you cross-eyed.. Keep it with like minded people.
Where I have gone wrong
Firstly, I fell victim to the “Do what you love” mindset, though I genuinely did believe there was a void that needed to be filled. This was the result of a blend between arrogance and ignorance. I was looking in the wrong places, or just thought my product was different. Additionally, there is still much I must learn about marketing. My enthusiasm led me to believe that once my website was live, all that was required was some google ads… Unfortunately, this didn't leave me laughing all the way to the bank.
What is stopping me from making sales
I have reached a point where the initial version of the product is ready, though my marketing is shit. The product is in a crowded niche. IT DOESN'T STAND OUT.
DAMN WTF AM I DOING. Get marketing!
I wrote this as I had lost direction in my project, I felt it was over. I wrote it more for myself than others, though perhaps you may learn something from it.
I am happy to answer any questions you have.
I have failed to make any sales from this business. Why? I will outline that below.
Although painful and disheartening at times, my experience has taught me many lessons and skills. My direct time investment into this business has been roughly 530 hours over a period of 13 months. Monetary investment = USD $2149.59
Lessons I have learned from building this business
Here is a quick list of some go the larger lessons I have learned, interesting “I knew” all of these before starting. These are all clearly written in TMF , knowing and application are two different animals.
1) Identify a customer need first. ITS ALL ABOUT THE CUSTOMERS.
2) Be prepared to spend at least as much energy/time on the marketing of a product as you spend on creating the product.
3) Your product is nothing without good marketing.
4) Best not to talk to most people about your projects, the vast majority stare back at you cross-eyed.. Keep it with like minded people.
Where I have gone wrong
Firstly, I fell victim to the “Do what you love” mindset, though I genuinely did believe there was a void that needed to be filled. This was the result of a blend between arrogance and ignorance. I was looking in the wrong places, or just thought my product was different. Additionally, there is still much I must learn about marketing. My enthusiasm led me to believe that once my website was live, all that was required was some google ads… Unfortunately, this didn't leave me laughing all the way to the bank.
What is stopping me from making sales
I have reached a point where the initial version of the product is ready, though my marketing is shit. The product is in a crowded niche. IT DOESN'T STAND OUT.
DAMN WTF AM I DOING. Get marketing!
I wrote this as I had lost direction in my project, I felt it was over. I wrote it more for myself than others, though perhaps you may learn something from it.
I am happy to answer any questions you have.
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