What i learned from my First almost failed startup ?
My writing may be harsh but it is my personal Experience. Writing is Personal.
How it was started ?
It is about me when i was in last year( 7th semester) of my B.tech Course in my college when a enthusiastic myself thought about starting a startup.
I was very keen to develop a B2C business in the Education Field. The biggest problem i faced was that who will develop it because i am very bad in Technical and coding skills.
It took me alot of time to choose a techie guy because no one from friend circle was interested and no one was ready to take risk. So as all say when no one is there for you Google is always there.
So I searched for a technical co-founder on Google and found a website called Cofounderslab . I created my account on it and started searching on it.
After many discussions with other folks on Cofounderslab , a guy contacted me through facebook and after many discussions he agreed to work with me.
We started building website for our startup. All went good but later that guy lose interest in the Startup , I don’t know the reason but there may be many reasons. God Knows.
Now after working for almost 2 month website in between so much chaos as the website got suspension from Hosting company and they that the problem is due to Wordpress as we had used wordpress template for building website.
What I learned from this ?
- You must choose co-founder whom with you have worked earlier or awork with her/him for atleast 1 or 2 month so that you can develop some understanding.
- Don’t believe directly on anyone until and unless you know that person and have patience.
- Do complete research of the sector in which you want to develop the product.
.How much is the target market ?
. How much is the valuation that sector have ?
. What problem you are solving ? Is there any Competitor ?
So do complete research.
4. Don’t seek for fund until you haven’t build the prototype of the product ?
because investors want to see whether your product is making revenue or not.
Is it profitable or not ?
So for all the Entrepreneurs out there. Stand up ,Start it , Startup it.
Whatever i learned from the failure of my first Startup it provided me Experience.
“ One who has courage to except failure can achieve Great again.” — Amitabh Songara
Startup = Start + Art +Up
“The best time to plant a tree was 20 years ago. The second best time is now.” — Chinese proverb