Startupwithmike.io

❌ 3 Startup failures I will never make again

startup failures

In this blog post I will talk about 3 failures I’ve made with my first startup and how I make sure I don’t make the same mistakes again with my latest startup Upvoty.

Benefits from starting a second startup

So, first of all, since Upvoty is my second startup 🚀, I’m blessed by having the benefits of being more experienced now than I was when I started my first startup. I know I need to do things differently comparing to when I launched my first startup. That doesn’t mean it will guarantee success, but I’ve learned some things that worked well and what didn’t. This can be a big advantage.

So let’s talk about 3 failures I never make again.

Focus on your product, not on your logo

In the first phase of your startup it’s really all about your product. The name, branding or things like the business cards, are really not important. I know that building your startup comes along with pride and you want to show it to everyone, but focusing too much on trivial things like your logo 🎨, isn’t going to help it get of the ground. For Upvoty we’ve made a really simple logo, just to have at least something, but it’s not sure this will be the final logo. But who cares, people know we are calling ourselves Upvoty and they know what we are building. That’s more than enough for now. The next step is up to us; blow their minds with a great product!

Keep it simple

At my first startup I had this big vision about how the product should look like and all of the cool features that needed to be in it. Yes, having a big vision is more than ok, but when you launch; keep it simple. Don’t overwhelm 😱 your potential customers with too much features and stuff. The time they have to try-out your product is limited. Start with the bare minimum and make sure they are feeling the real value.

Don’t overspend marketing budget

I was so convinced about my first startup, that I instantly started to advertise with it on multiple channels; Google Ads, Facebook Ads, Advertisement on website, etcetera. The thing is. Your product is never as good as you think and you really need feedback from the first few users in order to optimize it. So start with free marketing channels. Everyone can make an Instagram, Facebook and Twitter account. And everyone can start a blog 💬 on their website. Start making content that fits your target audience, and the first sign ups will be a matter of time. And once you’re confident enough based on real feedback. Just start with 1 paid channel and try to gain more traction. Don’t burn money for nothing, burn it wisely.