Don't continue to throw time, money and effort at a failed project. Instead, put those toward making your next great idea a winner.

over 1 year ago | From Entrepreneur | Author: Sujan Patel

It's tempting, when your sales are slow, to blame the economy or some other factor outside of your control. But, with Americans spending $1.2 trillion annually on nonessential goods, according to The Wall Street Journal, there's clearly more at work than personal spending freezes.

I'd argue that, in most instances, the issue isn't that people aren't spending -- it's that you're offering them something they don't really care to spend money on. In an article on the Launch Yourself blog, Melissa Anzman shared her own past experiences with failed launches, writing:

"This is where my failed launches have usually gone wrong. I created content that was amazing and it's what I thought my audience needed (hello - you need it, I'm the expert, listen to me!). But at the end of the day, they could care less about the solution I was selling."

This is where the early market research and validation testing I mentioned earlier comes into play. If, in your product or service's earliest stages, you aren't seeing conclusive proof that people want what you intend to offer, it's in your best interest to keep iterating before investing in a full launch.

       

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Not long ago, I was trying to watch a video on YouTube. I got the expected “5-second till skipping” countdown and had my mouse hovering over the skip link, but the video was interesting. I laughed, so I figured I’d give it another few seconds to see what the product was all about. I ended up watc...  ...Read more


Companies looking to build consumer habits should know that monetization is a result of engagement .
Companies looking to build consumer habits should know that monetization is a result of engagement .
Added over 1 year ago | As appeared first on Medium | Author: Nir Eyal

According to the New York Times, when Page looks at a potential company to acquire, he wants to know if the product is, like a toothbrush, “something you will use once or twice a day.” Page clearly understands habits. As I wrote in my book, “Hooked: How to Build Habit-Forming Products,” frequent...  ...Read more


When a startup company is visualizing their product, they tend to forget the moments a user has to wait.
When a startup company is visualizing their product, they tend to forget the moments a user has to wait.
Added over 1 year ago | As appeared first on Hackernoon | Author: Wayne Chang

Contrary to MVPs, where the goal is to get something barely usable out the door and into the market for initial feedback, an MLP takes the opposite approach, treating, among other things, the first-time experience of a new user very seriously. This is the first time they’ll see your product, the...  ...Read more


Working for free is OK in the early days, but later, it gives you an excuse to just “do your best”.
Working for free is OK in the early days, but later, it gives you an excuse to just “do your best”.
Added over 1 year ago | As appeared first on Medium | Author: Jason M. Lemkin

What are the Top 10 things I’d tell myself to do better, if I could go back in time? My top list: Slow down big decisions — when you aren’t sure. You have to move fast and break things, but if the pit in your stomach says “maybe don’t do that” — slow that decision down. My biggest mistakes ha...  ...Read more


Launching is hard work, but if hyperlocal marketplaces works in one market, then it will work in hundreds more.
Launching is hard work, but if hyperlocal marketplaces works in one market, then it will work in hundreds more.
Added over 1 year ago | As appeared first on andrewchen | Author: Andrew Chen

How to build a billion dollar digital marketplace – examples from Uber, eBay, Craigslist, and more Marketplaces are easily underestimated When marketplaces get big, they can get really big. Some of the biggest tech successes ever – eBay, Airbnb, Alibaba, Uber – are marketplaces worth ...  ...Read more


If you release your product too early, users may write it off as not good enough and getting them back may be difficult.
If you release your product too early, users may write it off as not good enough and getting them back may be difficult.
Added over 1 year ago | As appeared first on cbinsights | Author: cbinsights

From lack of product-market fit to disharmony on the team, we break down the top 20 reasons for startup failure by analyzing 101 startup failure post-mortems. WHERE IS THIS DATA COMING FROM? Start your free trial today Email Email SIGN UP After we compiled our list of startup failure post-m...  ...Read more


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