This sounds silly but when I launched my first startup 5 years ago, we didn't put in a vesting schedule ๐
Wanted to see what others have done but also things we know to avoid in the future!
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everything i do is a mistake, just trying to learn ๐
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being once a co-founder in digital agency, I've made a mistake of hiring first, scaling up later. You should scale up the team after you've scaled up the monthly revenue, not backwards โ otherwise, you will get too many expenses with low income at the very beginning and this is a risk of burying a good concept (that's what practically happened then)
Not taking the time to talk to more customers. We built a B to C platform but we made the product keeping us (three co-founder and some employees) in mind. We did not take the time to speak with our super subscribers (people who benefit a lot more from the product than us) which gave us a low retention rate. Retention is everything while starting out!
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With our current product, we would have put more effort into building a community before building the product itself.
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Sourcing out our MVP and not doing it in-house which cost us a lot of money and headache.
Also, not doing enough research about the partner/advisor we originally teamed with to help us (ended up giving up 15% company share to him while all he did was repeat the same thing over and over without taking one single action to help us).
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The co-founder problem....indirectly became a solo founder with no mentor....mayday!
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Travis
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