my startup learnings

key learnings from my first startup

from startup to

f_ck up

For those, who are considering to start new business tomorrow.

This is not a theory or text book.It´s based on the real experience

A few years ago I established my first company with great and very appreciated mission.Everybody liked it. I was passionate. I got easily money from investor. I failed.

These are my learnings...

„The first unsuccessful startup without major damage or loss is the best experience you can get.“

„It´s normal to fail during first trials, but the point is to leverage it to strenght and return to the game and win“

me

me again

see my learnings..

even before the start

magic 2

1st customer

idea !!

scenario B

money

idea checkno emotions

people

even if it´s fancy brutal questions

experience

content

read the stories and wisdoms from those who made it and learn from them

but don´t take it as your experience !

Idea? Congratulations !

Now ask yourself:is it unique/new ?does it solve any real issue?does it break the rules ?would I pay for it ?now turn off your emotions and

ask again!

Don´t be surprised when you realise, that somebody is one day ahead. That will probably happen once you start to browse the web seriously

Slow down, turn off your emotions, no rush

Check your idea with othersDon´t ask them whether they like it.Ask them whether they will (not would) order your service and how much will they pay

Is it attractive ?

Test offer without speaking

Think twice, make the critical business model, not the optimistic one. Divide expected sales and revenues at least by two.

But be sure, it will be anyway at least twice worse !

Prepare scenario B before you start to investQ: What if you don´t have any income?

You have to answer before you start. Later might be too late.

Ask yourself brutal questions

Why shall I buy what you offer ?What´s the source of business ?

Who will pay ? How ? How will you approach the

market ? ..and don´t say it´s WOM only!

What´s your USP ?Are you better than the others ?

.....

the simplier the better

1st hungry customer

must appear

before you start

Money is not a problemThere is a lot of smart investors ready to take a risk. If you can´t get them, the idea is poor and you´d rather think again.

People are just human beings – don´t expect more. Fan does not mean hardworker. But you need hardworkers first.

No rush with recruitment If you can do it alone, do so

Last, but not leastrather focus on business you know well and you´re good at. If you start from scratch, you´ll hardly be the best in the first year. But you should...

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