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Richard Fang

What's the biggest mistake you've made as a founder?

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This sounds silly but when I launched my first startup 5 years ago, we didn't put in a vesting schedule 😅 Wanted to see what others have done but also things we know to avoid in the future!
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Jake Strouse
Procrastinating. It has always been a huge issue for me, and has lead to some great ideas never being pursued.
Devanand Premkumar
@influxes I know how you feel. Been there, its quite a pain and I have lost quite a lot because of that alone.
Angelina
@influxes i feel that means you weren't really excited about them. perhaps led you to something better: you have passion + good idea.
Jake Strouse
@angelina_magr I was excited for them to be a reality. But I was not excited about the pains of building them. So I procrastinated.
Angelina
@influxes not excited enough then? :P
Jake Strouse
@angelina_magr hahaha, fair enough I guess :)
Daniel Kyne
One big one - we tried to unnecessarily re-invent the wheel too many times, like designing our own onboarding flow and trying to define a new category. Learned over time that copying incumbents is part of the startup process, you have to pick what to innovate selectively in order to be able to spotlight those differentiators without getting lost in the details.
Richard Fang
@daniel_kyne That's a great tip on copying incumbents and then picking out what to innovate selectively
Ismael FINNAOUI
My biggest mistake is actually trying to Avoid mistakes by applying a specific framework. (lean ... ) Mistakes might be very different depends on products type. Sometimes trying to release as soon as possible can get you troubles but sometimes you have to release asap and go further to reach potential customers. Not Trying AB testing outbound vs inbound marketing for software based product.
Richard Fang
@ifinnaoui Some good points! I think finding the fine line between releasing early and taking too long comes with experience haha
Ismael FINNAOUI
@richardfliu that's it ! EXPERIENCE. There is always something to learn as a founder.
Andrew Thompson
OH GOD, so many mistakes. Overpaying employees and not negotiating influencer contracts.
Utsha Sarker
did a lot of that
Uku Kudu
Waiting too long to start
Maria Zacharia
Waiting for around 6 months for US registration when we could have started off with an Indian Company.
Vivek
Not validating idea!
chris jansen
There are too many, but if I look at the recent times, not buying Dogecoin on time.
Richard Fang
@chris_jansen1 Haha I had dogecoin at 1 cent and then I sold it at 10 cents 😅
Devanand Premkumar
@chris_jansen1 @richardfliu Oh what you gonna say for the people who bought it at 60 cents and waiting now
Ari Cohen
Settling for mediocrity in people I worked with. Always need to have everyone around you lift you up with their work ethic and capabilities.
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