This is something that needs to be said. Let me elaborate: give up on your business idea, not your business. I’ve failed at so many startups and have been lucky enough to have succeeded with a few. Almost every single time, the initial idea morphed into something completely different by the time we launched and/or started picking up traction. One of the biggest problem with first-time startup founders is that they are too afraid to deviate from their initial idea.
I’ve had to learn this the hard way.
For 3 years I worked away at an idea I thought was what people wanted, a pretty unique software solution for competitive monitoring, without ever doing the proper research and market validation. Needless to say it didn’t take off the way that I had hoped. My latest venture, which I’ll drop in here for those who are curious: EvermailAI.com (a software that automatically collects information about your prospects and leverage artificial intelligence to create personalized messages) which has seen considerable success - 700+ signups at the time of writing this - initially started as an internal tool for our marketing team!
My point being, you never know where you or the market is going, so be open to changing the initial vision. I see too many people stubbornly sticking to the same idea without listening to their customers, their team, and their supporters. It might be time for you to give up on your business idea, but not your business! Go you! 📈
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Great advice, I’m going through the same now. Started something a year ago, not really catching on, trying something else now with the same business.
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Astonishing when you see the brain farts turned business fling, clear nobody put in much effort or thought. Yet they hang onto the McGuffin like they actually tried.
You would have done well to at least mention how many successes were ‘pivots.’ Expressly examples that canceling a project in no way, shape or form means giving up.
On the other hand, wantrepreneurs have a genuine talent for taking any advice then twisting it so they can screw themselves over. They’ll always find a way to snatch failure from the jaws of victory. Bless their hearts.
I’d say the lesson is actually do your market research upfront.