Read on Twitter
Know what& #39;s worse than trying and failing?
Trying and SUCCEEDING but being unprepared.
This is how I failed a business due to too much demand...
THREAD
Trying and SUCCEEDING but being unprepared.
This is how I failed a business due to too much demand...
THREAD
In 2017 I launched a venture with a friend of mine
It played to both of our strengths, I was a good promoter and he was great at web design.
So we came together and made a company. We would manage websites and build them for people. Pretty simple.
It played to both of our strengths, I was a good promoter and he was great at web design.
So we came together and made a company. We would manage websites and build them for people. Pretty simple.
Within 2 days, we had our first customer. Now I know I& #39;m a good promoter but this was FAST. We knew we were onto something.
We got that website up and running with ease.
4 days later we had ANOTHER customer. This was literally life-changing for me, why?
We got that website up and running with ease.
4 days later we had ANOTHER customer. This was literally life-changing for me, why?
At the time I was dead broke - not even $0 in the bank account broke. I& #39;m talking thousands of dollars worth of debt as well as upcoming bills.
So 2 customers in this short amount of time? There couldn& #39;t have been anything better.
We got to work, promoting and designing:
So 2 customers in this short amount of time? There couldn& #39;t have been anything better.
We got to work, promoting and designing:
To promote: I didn& #39;t have much of a twitter account, so I would do it through my blog and email list.
The payment would come through, and I would "plugin" a theme for the website to their domain, and get the basic site running.
I then would pass it onto my friend
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Down pointing backhand index" aria-label="Emoji: Down pointing backhand index">
The payment would come through, and I would "plugin" a theme for the website to their domain, and get the basic site running.
I then would pass it onto my friend
He would handle all of the details of the website, making it uber-personalized.
We could have just kept it as running a basic website, but one of the best parts about the offer was the uber-personalization. The client was able to choose 3 custom details about the website...
We could have just kept it as running a basic website, but one of the best parts about the offer was the uber-personalization. The client was able to choose 3 custom details about the website...
But it was this unique promise that we couldn& #39;t keep up with which was the downfall of this business.
Within 1 month we had 4 customers. It doesn& #39;t sound like a lot, but due to certain commitments, it stretched us thin. Let me explain...
Within 1 month we had 4 customers. It doesn& #39;t sound like a lot, but due to certain commitments, it stretched us thin. Let me explain...
On the "side" I was flipping things on craigslist and my partner had a few other clients as well.
So pile those businesses on top of running 4 different customized websites through our own servers?
We were ridiculously short on time.
Despite this however, we didn& #39;t stop...
So pile those businesses on top of running 4 different customized websites through our own servers?
We were ridiculously short on time.
Despite this however, we didn& #39;t stop...
We kept the gears turning for another 3 months after that stressful first month.
Was it a smart decision? No. It was purely out of pride.
The profits were terrible compared to our other ventures, and it took up a tonne of our time.
So eventually, demand got too high...
Was it a smart decision? No. It was purely out of pride.
The profits were terrible compared to our other ventures, and it took up a tonne of our time.
So eventually, demand got too high...
And we made the decision to shut the business down.
It was a brilliant idea, it clearly had demand, we obviously had the skills to pull it off.
But the one thing we didn& #39;t have was time. Our other hustles had better work to profit ratio.
Morals of the story?
It was a brilliant idea, it clearly had demand, we obviously had the skills to pull it off.
But the one thing we didn& #39;t have was time. Our other hustles had better work to profit ratio.
Morals of the story?
1) If you& #39;re going to do something, only do that ONE thing
2) You must be prepared for best-case scenarios as well as worst-case scenarios
3) Know when to quit, don& #39;t be too proud that you end up wasting a huge amount of your time on something useless.
2) You must be prepared for best-case scenarios as well as worst-case scenarios
3) Know when to quit, don& #39;t be too proud that you end up wasting a huge amount of your time on something useless.
If you’re tired of seeing the same cold showers and type 200 words a day feel good tweets...
And you’re ready for real lessons from learned the real world.
RT this threadhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Down pointing backhand index" aria-label="Emoji: Down pointing backhand index">
https://twitter.com/realdylanmadden/status/1253294107948179457?s=21">https://twitter.com/realdylan... https://twitter.com/realdylanmadden/status/1253294107948179457">https://twitter.com/realdylan...
And you’re ready for real lessons from learned the real world.
RT this thread
https://twitter.com/realdylanmadden/status/1253294107948179457?s=21">https://twitter.com/realdylan... https://twitter.com/realdylanmadden/status/1253294107948179457">https://twitter.com/realdylan...
