Every successful entrepreneur was terrible at their venture when they started out. And that is how they made mistakes. That is how they failed. And that is exactly what makes them successful!
Being terrible at building your product, raising funds for it, launching your product or marketing it means that you’ve got a whole world of opportunities to get good at it.
Because only when you make mistakes is when you learn what not to do the second time round, or the third. Or fourth. In my entrepreneurial journey, I’ve failed thrice before successfully running my fourth venture Arkenea for over two years now, growing at 100% year on year.
So fail fast and do that often; early on in your career, not necessarily age, so that you have collective immense learning to do what is right for your product or company.
Here’s how to fail fast and fail often to become successful.
Validate Before Writing Code
Don’t begin to start building your product the moment you come up with the idea. You need to check whether someone actually needs it, or they or you think they do.
If you’re building a tech product, the easier way to do this is to make a prototype and then take it to your potential customers. Not your family or friends, but someone you don’t know personally. Don’t ask them if it works for them. Rather, observe how they behave with the product. Are they behaving the way it is intended to or in some other way.
These are your early adopters and they will give you valuable feedback on your ideas. If it does not work, that particular idea fails and you need to make changes. You need to constantly iterate to come up with a product that finally works for your target audience.
Get Your Customers To Pay For A Prototype
If your customers are willing to pay for a prototype, beta or fund the development of a product which is in the concept stage, that’s a true validation for your product.
Most people would say yes they would buy your product when launched simply because people do not like to disappoint others. But ask them to put money where their mouth is and you’ve got the real picture.
The first few customers who are ready to pay for your product or solution before it is fully developed is the best way to make sure your idea works. If not, pivot.
And when you do fail, remember that it is not the failure of your company or yourself, but your product or idea and the way it was executed. Don’t take it personally, pivot and start getting traction. Being terrible should make you want to do better!
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PPS: need advice on starting up, growing your business, marketing or launching a mobile app and Internet venture? Schedule a call with me today!