Having a solid product is important, but very far from the only important thing. That's why you see some bad products achieve success and some good products fail. There are a whole lot of other, equally important, factors such as timing, running a solid business, marketing, etc.
But one that people tend to discount that is just as important is just plain luck. Having a great product improves your odds but is no guarantee of success. It just gets you in the game. Literally everyone I know that has achieved success has a string of failed attempts behind them before they finally hit.
The real key to success is simple: you try again after each failure, applying lessons learned, until the dice come up good for you.
Totally agree on the luck factor, it's humbling how much of it comes down to timing and being in the right place. The persistence part is what got me thinking about this though. Like, if most of us are going to fail multiple times anyway, why not at least fail with someone who's been through it before?
The pattern I keep seeing is founders who are incredible builders but treat each launch like their first time (because it usually is). Seems like there's got to be a better way than just grinding through the same mistakes everyone else made and rolling the dice??
> Seems like there's got to be a better way than just grinding through the same mistakes everyone else made and rolling the dice??
There is! What I recommend is, to use a term I hate, networking. That is, get to know, on a social basis, other people who have experience starting and running businesses (not just businesses that are like yours, either). You'll hear war stories. Pay attention to them and learn their lessons vicariously.
Also, read books and articles that analyze business failures. That's far more valuable than reading about business successes. The odds of you replicating the successful path of someone else's business are much lower than the odds of you replicating someone else's mistakes. "Make your own mistakes, not somebody else's."
Be an optimist, but also be honest about the reality that even under the most ideal circumstances, there's a significant chance that your venture will fail and plan accordingly. Hope for the best, plan for the worst and all that. I do think the key to success is resiliency. The people who win aren't the ones who never fail, they're the ones who get back up and try something else.
Because people have to know about the product and give a care for it.
In other words, Marketing is hard unless you
1) have a ton of money or
2) get "lucky" (right time/place)
3) have the right network/connections already in place to supercharge the 'launch'.
That is why, IMHO.
That is also why 1) being prolific and 2) very persistent are important for success. (Hence, always be launching.)
They're not buying the product. They're buying what it does for their ego or life. People buy on emotion, in addition to whatever it does for them.
But they have to know it exists, first.
Hence, why Ads / "influence" is such a big biz online.
The network/connections point hits hard. It's wild how much easier launches are when you already know the right people in your space.
That 'always be launching' mindset makes sense too - treat it like a skill you have to develop, not a one-time event. Most of us approach our first launch like it's some magical moment instead of just another thing to get good at through practice. It really is alot work and you have to keep motivated, i find i switch between projects too much which doesn't help too
That's an understatement. I've started a few businesses, some failed and some succeeded, but with each one it was the hardest work, with the longest hours and most stress, I've ever done. But the rewards are immense (not really, or just, talking about money).
Having a solid product is important, but very far from the only important thing. That's why you see some bad products achieve success and some good products fail. There are a whole lot of other, equally important, factors such as timing, running a solid business, marketing, etc.
But one that people tend to discount that is just as important is just plain luck. Having a great product improves your odds but is no guarantee of success. It just gets you in the game. Literally everyone I know that has achieved success has a string of failed attempts behind them before they finally hit.
The real key to success is simple: you try again after each failure, applying lessons learned, until the dice come up good for you.
Totally agree on the luck factor, it's humbling how much of it comes down to timing and being in the right place. The persistence part is what got me thinking about this though. Like, if most of us are going to fail multiple times anyway, why not at least fail with someone who's been through it before? The pattern I keep seeing is founders who are incredible builders but treat each launch like their first time (because it usually is). Seems like there's got to be a better way than just grinding through the same mistakes everyone else made and rolling the dice??
> Seems like there's got to be a better way than just grinding through the same mistakes everyone else made and rolling the dice??
There is! What I recommend is, to use a term I hate, networking. That is, get to know, on a social basis, other people who have experience starting and running businesses (not just businesses that are like yours, either). You'll hear war stories. Pay attention to them and learn their lessons vicariously.
Also, read books and articles that analyze business failures. That's far more valuable than reading about business successes. The odds of you replicating the successful path of someone else's business are much lower than the odds of you replicating someone else's mistakes. "Make your own mistakes, not somebody else's."
Be an optimist, but also be honest about the reality that even under the most ideal circumstances, there's a significant chance that your venture will fail and plan accordingly. Hope for the best, plan for the worst and all that. I do think the key to success is resiliency. The people who win aren't the ones who never fail, they're the ones who get back up and try something else.
Why?
Because people have to know about the product and give a care for it.
In other words, Marketing is hard unless you 1) have a ton of money or 2) get "lucky" (right time/place) 3) have the right network/connections already in place to supercharge the 'launch'.
That is why, IMHO.
That is also why 1) being prolific and 2) very persistent are important for success. (Hence, always be launching.)
They're not buying the product. They're buying what it does for their ego or life. People buy on emotion, in addition to whatever it does for them.
But they have to know it exists, first.
Hence, why Ads / "influence" is such a big biz online.
The network/connections point hits hard. It's wild how much easier launches are when you already know the right people in your space. That 'always be launching' mindset makes sense too - treat it like a skill you have to develop, not a one-time event. Most of us approach our first launch like it's some magical moment instead of just another thing to get good at through practice. It really is alot work and you have to keep motivated, i find i switch between projects too much which doesn't help too
> It really is alot work
That's an understatement. I've started a few businesses, some failed and some succeeded, but with each one it was the hardest work, with the longest hours and most stress, I've ever done. But the rewards are immense (not really, or just, talking about money).