My Tech Startup Failed...

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Tech With Tim

Tech With Tim

Күн бұрын

Пікірлер: 234
@TechWithTim
@TechWithTim 2 ай бұрын
Here's the link to a FREE resource on "How To Land a Developer Role in the World of AI" from myself and HubSpot! clickhubspot.com/ic2f
@nachiketnasa
@nachiketnasa Ай бұрын
The free PDF is decent but I'm not too sure about one thing listed in "KZbin and Other Resources". GeeksForGeeks is mentioned as one of the resources (mixed reviews, but reddit mostly hates it for inaccuracies in their content, lack of citation of other sources and forced login for no reason).
@danieljohnmorris
@danieljohnmorris Ай бұрын
I strongly doubt this hubspot pack would have saved your business, you are referencing it as such because it's the sponsor.
@rafaelrios5250
@rafaelrios5250 2 ай бұрын
Thanks for this video. It's nice to see people who have attained a status such as yours fail and share the lessons you came away with
@journeytothevoid2899
@journeytothevoid2899 Ай бұрын
At what point did you realize the business was not feasible. Was it in the financial model, a people issue or combo of both?
@camerawman
@camerawman Ай бұрын
Learned a long time ago from my mentor ,that failure is way much better than no efforts. COngrats tim ,,,I am sure your journey is going to impact a lot of lives brother...
@journeytothevoid2899
@journeytothevoid2899 Ай бұрын
At what point did you realize the business was not feasible. Was it in the financial model, a people issue or combo of both?
@WackNoir
@WackNoir Ай бұрын
yo bro you are real as hell for this, this video is going to be something that garners more support for you and your endeavors since most startup founders are not willing to be necessarily be open about their failures. appreciate you
@TechWithTim
@TechWithTim Ай бұрын
Thanks bro!
@linearnorth1233
@linearnorth1233 Ай бұрын
Thank you for not gatekeeping these valuable lessons! You are right on so many points that I have experienced myself before, but you just have to move on.
@jamespeters1617
@jamespeters1617 Ай бұрын
And lastly this was one really honest video, I think the advice is absolutely incredible and thanks tim for all your videos
@Faroghar
@Faroghar Ай бұрын
Here are the five key lessons the author learned from the failure of his tech startup: 1. **Validate the idea before building**: The author regrets not validating the idea enough with users before starting development. Getting quick and plentiful feedback is crucial to knowing if the market actually needs the product. 2. **Build the minimum viable product**: Instead of creating a complex product right away, he should have focused on a simple and functional version to gather immediate feedback and avoid unnecessary coding. 3. **Release early and iterate quickly**: The author advises launching an imperfect product quickly and then using user feedback to improve it over time, rather than spending months perfecting a product before releasing it. 4. **Detach your ego from the product**: It's essential not to take criticism personally. The product doesn't define the creator’s worth, and every piece of feedback should be seen as an opportunity for improvement. 5. **Fail fast**: It's important to recognize early when an idea isn't working and not hold on too long. Failing quickly allows you to move on to the next opportunity and learn from the mistakes made.
@garic4
@garic4 Ай бұрын
the summary comments should be pinned top. This is hero service thank you
@TheSilverGlow
@TheSilverGlow Ай бұрын
I like nearly all of your list, but your #3 is a huge mistake. Your brand, your name, your reputation and that of your company is EVERYTHING! Fast launch + iteration is a fade these days, and you see this wrong thinking all over the internet. Sure, a few people who have made it big did this, but most did not. The app, version 1 should never, ever be released too early, fast, and not placing quality first and foremost. Quality decides when the app is launched, not this wrong thinking of early + lots of interactions. Sure, you want to be planning v2 shortly after v1 is released, and iterate often, but v1 should not be rushed...quality should rule the day. And when I say quality, I am not talking perfection...better to launch a v1 high quality product with fewer features, than a fully featured app that is buggy, and lacks detailed touches to get a great UX. Quality, quality, quality, quality...why do you think the Apps Stores all are filled with junky apps? They did not put quality first.
@MyWatermelonz
@MyWatermelonz Ай бұрын
Thanks Google Gemini.
@bossgd100
@bossgd100 Ай бұрын
Thanks
@sultanhanga
@sultanhanga Ай бұрын
ChatGPT huh ?
@Oodle-ox2vf
@Oodle-ox2vf Ай бұрын
Yep, you make some good points, good video. I am retired, been a self employed Hardware/software developer for 50 years. Some of my cleverest work, that I was really enthusiastic about, never sold. But, I made good money on many of the boring things that did not really interest me. Ya gotta remember that you are making it for others, with different needs, not for yourself, that is what hobbies are for. Getting customers to realize that showing "commitment to the product" is in their own interests, can cover most of the development costs.
@blissfulDew
@blissfulDew Ай бұрын
There are not many people who would admit all these lessons, even to a closed group... much less to the whole world. so I applaud you for your honesty
@taxlord-Germany
@taxlord-Germany Ай бұрын
Awesome video! I am in a similar point of situation with my company. We develop a tax software and 3 weeks ago we needed to make a hatd cut on a very important process part. But we now made it much simpler and now the developing process starts accelerating. Starting with the MVP (minimum valiable product) is the absolute best lesson learned on this project. Thanks Tim and all the best for you. Failure is very important as soon as you learned your lessons from. Impressed by your self reglection in that young age. Best greetings from Germany!
@CupOfCoffee1
@CupOfCoffee1 Ай бұрын
Thanks for sharing. There is one book - The Lean Startup by Eric Ries, where covered almost every lesson mentioned in the video, worth a shot.
@nufh
@nufh Ай бұрын
Ego is something real for me, so I’ve learned to detach myself from my work to accept criticism. When people who don’t know you say it sucks, they’re sincere-they have no attachment to you and nothing to gain by lying.
@abbasuccess3155
@abbasuccess3155 Ай бұрын
"Nothing to gain by lying". Real.
@esrx7a
@esrx7a Ай бұрын
"No regrets", this says everything about the person, awesome man...
@vijaynadkarni
@vijaynadkarni Ай бұрын
Thanks for the video and for sharing your lessons learned, which I agree with. Having done 3 myself (1 success, 1 failure, 1 ongoing) I can say that there’s rarely a pure correlation between success and the effort one puts into it. Success depends greatly on the factors you’ve correctly identified, but there’s usually a measure of being in the right place at the right time, which is often discounted. In short, there’s no “formula” that works all the time.
@jamespeters1617
@jamespeters1617 Ай бұрын
As long as you’ve gain insight like your giving right now, the knowledge is golden. You never fail if your learning.
@cusematt23
@cusematt23 Ай бұрын
Man. Such a value add video. I bet people won’t appreciate it as much as they should.
@maxivy
@maxivy Ай бұрын
I really appreciate this video and respect you for putting yourself out there like this.
@OmriTurge
@OmriTurge Ай бұрын
tim I hope that u see this just wanted to say that you are a legend for using the default vs code monokai theme dude! you love this theme so much that the under lines don't even bother you hahahah I really love monokai sublime too, but doesn't use the default because of the lines, but it looks amazing
@davidpatry4195
@davidpatry4195 Ай бұрын
Reals gems here. Any engineer, myself included, will greatly benefit from Lesson 4. Thank you sir.
@PushkinMan
@PushkinMan Ай бұрын
Very good stuff, I suggest everyone to listen carefully, remember and even write it down. And of course - apply it! The plan for me to start getting my startup with essential functionally into production as soon as possible. Good luck everyone!
@5464654135756
@5464654135756 Ай бұрын
Really appreciate your bravery to share with us your failures! Really learned sth from you. Kudos!!!! ❤
@fleboho
@fleboho Ай бұрын
You're not alone on this Tim, most of what you said in this video is definetly on point. We get too attached to our works to the point where we can't take criticism too well.
@ys02k
@ys02k Ай бұрын
Thank you for sharing this information! I and several others appreciate this video
@masked00000
@masked00000 Ай бұрын
I have thought about every point you discussed. This was helpful and has given me reassurance on what not to do!
@justinbliske1402
@justinbliske1402 Ай бұрын
I struggled with Lesson 4 for a very long time; I still do from time to time. This is a very important lesson to learn in order to grow.
@DuaneDonaldson
@DuaneDonaldson Ай бұрын
Learned in University, public surveys in the genre of the App, in this case, survey athletes and resurvey based on info gathered from the beginning to date. ALPHA then BETA testing with the users and getting constant feedback, listening to them more than yourself. Look at Microsoft, get the software out by a certain date, any upgrades will be in version 2 & 3, etc, get the software working 100% for the 60% that is complete on the intended schedule, it must be published on time, ready or not. Then work on found bugs and iterate with free updates to a certain level. Your failures were taught to me in my CS Degree at a low-level Uni in a foreign country. Thanks for your lessons in life Brother.
@dineshgct
@dineshgct Ай бұрын
Great lessons shared, the experience has been immense. good luck with your next venture bro. These lessons will be very handy
@AndreTJones
@AndreTJones Ай бұрын
My ex is a lawyer and wants me to build an app with all of these features off the bat. I think you’re right. Simpler is better
@aar0n709
@aar0n709 Ай бұрын
You Wild son
@AndreTJones
@AndreTJones Ай бұрын
@@aar0n709 🤷🏽‍♂️
@aar0n709
@aar0n709 Ай бұрын
@@AndreTJones yes start a startup with your ex and no market research
@growingisgood
@growingisgood Ай бұрын
Thanks for sharing Tim. Lots of devs need to hear this bro 👍🏽🙌🏽
@brianmungai1070
@brianmungai1070 Ай бұрын
Nice video, Tim. Thanks for sharing these honest insights from your experience. It's really eye-opening.
@TheCulturedSwine
@TheCulturedSwine Ай бұрын
Thanks Tim! Im starting new platform right now and these are definitely helpful tips, currently I’m only using 2 of the 5 and will keep the rest in mind.
@wscrivner
@wscrivner Ай бұрын
Thanks for sharing your experience and advice. I think this will be a big help to me on a project that I'm about to work on for a family member. It's not for pay but for experience but your advice can still he applied. Sorry your endeavor didn't work out but good for you for keeping a good attitude and taking it as a learning experience.
@anargasanov174
@anargasanov174 Ай бұрын
You should read “The Lean Startup”. It covers all of the topics that you’ve mentioned.
@carlwratten6200
@carlwratten6200 Ай бұрын
This is a really good video. Useful lessons for life generally, not just for creating IT projects.
@abdullahnaim10
@abdullahnaim10 Ай бұрын
Valuable insights. Will be implementing them for my projects. Thank you!
@benjaminchow5502
@benjaminchow5502 Ай бұрын
Thank you for sharing this Tim! Respect.
@kipfitpal
@kipfitpal Ай бұрын
This is gold! Thank you Tim.
@vuquangtruong5950
@vuquangtruong5950 Ай бұрын
Really really really appreciate it. Wish you all the best .
@philipc9000
@philipc9000 Ай бұрын
Good pointers about the mistakes that you have made through building a startup that failed. One can learn from the mistakes of others apart from successes...
@chiedozieonyearugbulem9363
@chiedozieonyearugbulem9363 Ай бұрын
Thanks for sharing. I admire your transparency on the learnings from your failed start-up. I'm currently working on an internal project and I can see myself making some the mistakes you pointed out. Would be an opportunity for me to take a course correction and get things right
@rohanrobinson6839
@rohanrobinson6839 Ай бұрын
awesome video Tim, best of luck with the next one
@Jesupemiabere
@Jesupemiabere Ай бұрын
Thank you so much for this video Point one and two hit me most We want to grt out into the wild as fast as possible
@williamwhitehead374
@williamwhitehead374 Ай бұрын
Great video man.
@sijian1910
@sijian1910 Ай бұрын
agree as early as possible, simpler is better. however, I disagree about listen to the users, that won't bring the world progress, you should be confident to what you build, never do the project if you are not the user and you do not have confidence it valuable. Also, your user and product manager who's without any engineering background would lack of the ability of abstraction, which puts the creator team and engineers in a better position in startups.
@kfiramar9967
@kfiramar9967 Ай бұрын
“The lean startup” Book - summarized into a video
@thubelihlekupa3339
@thubelihlekupa3339 Ай бұрын
Also thought , this is nothing to do with his experience but he just read the book and summarised it
@Achrafhakim-o1f
@Achrafhakim-o1f Ай бұрын
wow thanks tim,I had plans of a start up ,this is so useful
@ben_hkw117
@ben_hkw117 Ай бұрын
Failure rate of startups are high. Good thing is you can have as many as you want. Keep it up!! :)
@TyronneRatcliff
@TyronneRatcliff Ай бұрын
Sometimes it's better to find an app idea that's already been successful and validated and find a way to build the same kind of app better. Not an easy task but definitely possible.
@christtech
@christtech Ай бұрын
"fail fast" this is a statement I'm gonna hold on to though there's a thing line between this and "giving up" I hope it settles well in my head, thanks tim❤ 8:53
@jamesm.9285
@jamesm.9285 Ай бұрын
Super valuable lessons, thank you for sharing openly! Josh Kaufman's book (or website), 'The Personal MBA' teaches these same crucial lessons. Easily one of my favourite reads on business.
@jamespeters1617
@jamespeters1617 Ай бұрын
Dude great advice I recommend just get it done in Django build somewhat organized and get a idea up
@alsonyang230
@alsonyang230 Ай бұрын
Hey Tim, thanks for sharing these 5 fantastic tips. Although I have no plan running start up, but this will be useful principle for me to keep in mind when building customer facing application for work. Not sure if it's confidential, it would be great if you can share the main reasons (1-3) that the app fails (Issues), and how these 5 tips you provide (solution) could address those issues and potentially avoided the failure. Learning by real example will always deepen our understanding over learning just the theory. It's like when you teach Design pattern for example, it will help us understand more if you talk about the problem exist without the usage of design pattern, and then show us how the right design pattern can help address/mitigate the problem. Again, thanks for sharing, loved it! 🥰
@bahroum69
@bahroum69 Ай бұрын
Main one, is nobody cared. There really is nothing else. No product market fit
@alsonyang230
@alsonyang230 Ай бұрын
@@bahroum69 Thanks for sharing the reason!
@hardbrocklife
@hardbrocklife Ай бұрын
This is a major component of business. Very few individuals who have large, profitable businesses got there without failing in one way or another many times. Im a partial owner in a retail business for regulated goods. Margins are decent and we are profitable. One major issue we didnt anticipate being so severe is that even your employees that fill simpler roles like cashiering have to be nearly as competent as a finacial auditor because of severity of reprecussions if paper work is not filled perfectly. You nearly have to hire someone who could run your business just to be a cashier. Were we to start over we would go into B2B sales instesd of B2C.
@hurric4n3ike
@hurric4n3ike Ай бұрын
Preciate it G💪🏽
@deeplearningexplained
@deeplearningexplained Ай бұрын
Very solid Tim 👍
@equin07x
@equin07x Ай бұрын
Lesson 4 was heavy for me. I had this prof who made us create multiple CRUD apps in a span of one sem; 2 of which are individual and as much as I believe the desktop app the got nitpicked, I felt like was the one being nitpicked because I spent so much day and night figuring it out. Especially when it was my very first desktop app and I thought I was only getting my feet wet. I totally resonate with detaching yourself with what you build..
@softwareengineer8923
@softwareengineer8923 Ай бұрын
Really helpful, much obliged for sharing
@kylesmith7242
@kylesmith7242 Ай бұрын
I would recommend The Lean Startup Book by Eric Ries. Short read but there's a lot of principles that you went over that are in there and some more.
@hamm8934
@hamm8934 Ай бұрын
Are you just summarizing the Book “The Lean Startup”? Lol
@goodfeather16
@goodfeather16 Ай бұрын
All valid points! This is also true when you work at a company.
@existenceisillusion6528
@existenceisillusion6528 Ай бұрын
Worked for a company for 5 years, tried to convince them not to make these mistakes. They didn't listen, but I think they're still in business, mostly because they have a broad enough range of products that they can absorb a failure. Actually, they have the product and can, at any time, turn it into a success, but they just sit on it. Oh well.
@rishi9224
@rishi9224 Ай бұрын
I do agree with these helpful tips and it’s definitely a good learning experience. However, these points could have been avoided if the co-founder took the time to do market research before assembling a team. Money, time and human resources wouldn’t have been wasted. Also, as for someone who teaches about software development. It’s interesting to see how you didn’t follow any SDLC model. It’s important to keep iterating the feature. At the end of the day, it’s the customer who will be using the app. If they don’t like it then the project will simply fail. All these points are also covered in software development/QA books
@shivthedev
@shivthedev Ай бұрын
Only genuine people share their best learnings!
@sutofana
@sutofana Ай бұрын
love you tim, thank you
@nickmasters5995
@nickmasters5995 Ай бұрын
It takes a strong man to admit that he was wrong and for that alone I love you... and I am a heterosexual male.
@AlmightyFSM
@AlmightyFSM Ай бұрын
Lacking product market fit is generally seen as the reason for failure (as suggested in this video). This is true, but not usually the reason for company failure. The failure is not being able, or willing, to pivot. Many (most?) successful startups find success with something different to what they started with. They usually fail to achieve product market fit initially. Doing more user validation is good, but won't really change the outcome much. The outcome is changed by recognizing that the opportunity is somewhere adjacent to where you started, and being able to quickly steer the ship towards it.
@gabrielbarrantes6946
@gabrielbarrantes6946 Ай бұрын
I am unable to find a job, my health issues have me crippled, no income 3 years, and my only hope is my start-up, wish me luck guys because it might be the only way for me to stay alive.
@aar0n709
@aar0n709 Ай бұрын
Maybe you should get a job first then use the resources from that to do a startup. I doubt if you have the resources to do a startup if your having trouble with your employment
@osamareema3008
@osamareema3008 Ай бұрын
I loved your honsty man !, Thank you so much for shring , And I really hope the next one will be amaizing♥
@adrieladegunju
@adrieladegunju Ай бұрын
my mum always tells me that coding does not take time but i sit here and watch your videos
@BlueBirdgg
@BlueBirdgg Ай бұрын
Thanks for sharing the experience.
@truejohnsolo
@truejohnsolo Ай бұрын
This is golden! Thank you
@blastav
@blastav Ай бұрын
Thanks for video!!! Very informative and helpful
@LuisPerez-ce7fn
@LuisPerez-ce7fn Ай бұрын
Great video. Thank you for this
@carlhopkinson
@carlhopkinson Ай бұрын
Sage advice. Live and learn.
@TaskSwitcherify
@TaskSwitcherify Ай бұрын
I feel your pain... It's all well explained in the book 'Lean Startup' by Eric Ries and 'The Startup Owner's Manual' & 'The Four Steps to the Epiphany' by Steve Blank
@Heisenberg2097
@Heisenberg2097 Ай бұрын
I remember my time in a co-working space in Berlin... seeing the startups burst like bubbles. So many game changers that were only shame gainers... LOL
@studentsheaven-d8v
@studentsheaven-d8v Ай бұрын
boy oh boy...love the video
@raymondchow4947
@raymondchow4947 Ай бұрын
Thanks bro for your sharing and guidance
@Pisakhov0
@Pisakhov0 Ай бұрын
Thank you for letting us learn from your mistakes
@achalasamapriya2701
@achalasamapriya2701 Ай бұрын
great motivational speech .thank you
@Dav-jj2jb
@Dav-jj2jb Ай бұрын
No worries, it's ok. I failed 5 times (so far), big fails, small fails, all the fails. My biggest lesson is that you don't really need a team to validate an idea. Or rather, you don't validate an idea, you validate a business plan. I acutally started as a coder and now it's looking like 20% code and 80% research, business and strategy.
@RifatErdemSahin
@RifatErdemSahin Ай бұрын
Well gr8 video feedback > ego > sales
@crono102
@crono102 Ай бұрын
"CEO had the idea..." is a red flag
@MichaelSt
@MichaelSt Ай бұрын
He put the money, not a red flag
@spol
@spol Ай бұрын
Not sure where you got the idea that your leader shouldn’t contribute a broad vision.
@crono102
@crono102 Ай бұрын
@@spol The CEO provides the big picture, setting the overall strategy and objectives. Then, it's down to the leaders to bring those ideas up, and this leaders in turn pass them on to their teams, who then get to work on the nitty-gritty. It's a simple, straightforward process that works really well. But, if a CEO tries to do too much, they might lose out in the market.
@walrexx_2370
@walrexx_2370 Ай бұрын
thanks Tim for this video.
@ErdinudinUdin
@ErdinudinUdin Ай бұрын
Thx for info🙏
@asmedeus448
@asmedeus448 Ай бұрын
I agree with lesson 5 because without experience you wont be better.
@someniac5364
@someniac5364 Ай бұрын
I love lessons like this
@abdulmobinkarimi6846
@abdulmobinkarimi6846 Ай бұрын
sorry for your failure bro, Tim is always great! remember
@shis10
@shis10 Ай бұрын
Amazing video. Which tech stack you used for app ??
@nelmatrix3942
@nelmatrix3942 Ай бұрын
I think he said React Native at the time he posted a video announcing the start-up.
@shis10
@shis10 Ай бұрын
@@nelmatrix3942 Ok
@designedbyeddie
@designedbyeddie Ай бұрын
love your videos
@lszujo
@lszujo Ай бұрын
this failure is probably good for your character..you're a very smart kid,but character has nothing to do how clever you are....get up,learn from your mistakes and succeed next time around...
@gabrielfono844
@gabrielfono844 Ай бұрын
Thanks for sharing this
@the_aialchemist
@the_aialchemist Ай бұрын
I wish they read the book lean startup by eric reiss and he’s hitting this idea home about validated learning
@brettgreiner6977
@brettgreiner6977 Ай бұрын
Thank you for sharing.
@q450062734
@q450062734 Ай бұрын
Things it shows that might be the problem: Being tech employee with no decision making privilege as a tech founder, and even put in own capital. 2. Cognitive training for athlete. Whats the market, how many athletes like to look at the screen for a long time. Is the idea tested at an early stage 3. Care too much. As an employee, utilizing personal relational capital by hiring friends and network for not much value given back to self
@edwardroy3401
@edwardroy3401 Ай бұрын
The key to success is failure 🔑 . In any venture, you either succeed or you learn.
@jamesharris40001
@jamesharris40001 Ай бұрын
Same takeaways from closing my startup also
@megatomek2000
@megatomek2000 Ай бұрын
Thanks for sharing
@Business_101
@Business_101 Ай бұрын
All your points are valid, except for pushing out a garbage product and iterating it through it quickly! That’s just a horrible thing to do in business and what you should do is, push out a very basic version of the product that looks good enough and functions good enough and then roll out the additional features that you have on your plan feature by feature. Also, you do NOT hire FOUR software developers at that stage - you definitely do not need that many at that point of the project and that expense will just kill your business - you should have spent that expense on marketing and growth instead
@danialahmed6438
@danialahmed6438 Ай бұрын
Moral of the story: Don't be a perfectionist.
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