7 Lessons From 100+ Failed Startups
Anastasia Mudrova
1.98K37

Not exactly startups, but we built 10 new products in 18 months, 9 of which failed and here are the lessons we learnt from them:

  • Solving emotional problems is much harder than solving functional problems.
  • Solving for consumers is much harder than solving for businesses. Making a profitable business from them even harder.
  • Understand core problem and target market really well before jumping into execution.
  • Think about business model and go-to-market as well before pursuing an opportunity. What’s the point of solving a problem if we cannot reach users at scale and make meaningful revenue from it?
  • When validating an idea, do not validate in isolation. Validate it in the larger context it exists in.
  • We cannot beat Facebook or Google at their own game. Let’s be real about our capabilities.
  • Confirmation bias is a very real thing.

If you want to know more about the products themselves and why they failed, you can check this post out https://growth.wingify.com/building-10-new-products-in-18-months-at-wingify-and-how-they-turned-out-fd94fd4bd970

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