RE: The Fuckup Files Series - Episode Three: "It Must Work, I Just Know It"
Bummer, I missed this one, but clad I read now.
And third - which kinda sums them all - we simply "thought" it will work out. We simply took a much bigger risk than we could afford.
Sometimes it is a good thing to just jump in, but one shall always know the risks and have a budget allocated that can go down the pipes. Your experience with the Ad-association: logical that something like that is required as you explain why so, but this generally forms entry barriers which is difficult to overcome for any new startup. In one way it is good, it prevents for just anybody to bring whatever on the market with the result of even more failures and bankruptcies. On he other hand, I suppose quite a few good ideas are never make it to market because of these type of barriers, which is a tremendous waste of good ideas as well.
In itself that organization was - and still is, 10 years after - a good thing. It was our responsibility to know that and to adopt the best strategy in the current context. From that point of view, the risk was bigger than we could afford.
Of course we learned a lot, but a business doesn't pay in diplomas, you know? At the end of the day you have to put money on the table.
I fully agree. I just wish we would have better ways to bring good ideas to the right entrepreneurs, since quite a few non-entrepreneurs have really really good idea, but do not know how to get these of the ground, or even be able to find the entrepreneurs who will be able to market it. Anyway, this 'issue' is as old as humans live on this planet, I suppose, but became bigger in todays times with us being so global.