Last week, I was talking to a friend after a long time. He and I bootstrapped a few ideas and failed to execute on them. We burned ourselves out and blamed the market. Emotionally, that was the right thing to do. Now, what I think is, it was our inexperience that caused us to burn. We got many things wrong like the inept kids running their first business from the basement. But, our biggest fault was to not wait long enough and dismiss our own ideas early. Besides, we didn’t know the scientific way of building a startup.
Failure rarely gets any media attention unless you are Theranos and screwed up big time. Stories about Unicorns fail to focus on the fact that they all struggled when they started. Be it Dropbox or Microsoft, the path to building a product that users love is never straight to success. But, we got sold by the popular stories and thought it to be so.
Definitely, these failures won’t prevent us from building more and trying again. What we have learned though these failures are priceless. We learned every successful startup founder failed in their life at some point. Some were more miserable and public than others. But, those who waited long enough were certainly won one day. After all, you have to be right only once.Written on December 16th, 2016 by M Yakub Mizan