Excess expenditure = shorter life of start-up:
You have this big idea, all your friends & family tell you it will be the next big thing – you get so caught up & start looking for every single paid method to get your business out there… WRONG.
You probably got Google AdSense in mind, Facebook ads, PPC, paid email list, billboard advertisement… the list goes on and on.
Don’t do it.
People get so caught up in this “idea” of theirs that they completely forget the word “FREE” exists. Even if you go towards the paid side of things it should be done in very small chunks, these chunks should then be tested. The main keyword here is “Conversion”-ask yourself that if you spend X amount of money to get X amount of users/exposure, is that enough to grow?
If the answer is No then stop what you are doing and move onto something else. However, if the answer is Yes then you might be doing something right so go ahead and continue adding a little bit more sugar to see if the outcome is greater each time.
Put yourself in Battle mode:
Once you launch, it should be a LAUNCH like none other. Think of the way a rocket launches and the impact it makes to the atmosphere, you should picture YOUR business launching in the same way. Keep the energy very high within the workplace, occasionally kick some ass if employees slack and do not take your eye off the main prize.
If you’re still wondering what the main prize is, it should be to take over the world, unless you’re small minded then that’s a different issue completely…
You will find many people go back to their 9 to 5 jobs only because they didn’t know when to stop. People need to understand that ideas come and go and if your idea doesn’t seem to be working regardless of how much you’re pushing it then it probably would never work; full stop.
Failing fast is simple; use every single resource you possibly can, as SOON as you can and as FAST as you can…
After launching make sure your days are so action packed that when you get home you can’t remember your wife’s name…
Even then if your start-up is not working after analyzing the data within the first 2-3 months then it’s time to move on. 9/10 start-ups fail; if yours does too, there is no shame. It just means that the next time you stand up to succeed, the chances of success is higher.