So I made something and it didn’t work. I think I know why.
“Assumption without data”, With all the info online about being lean and bean on validating and getting people to pay ahead, I didn’t do them and I don’t regret it.
All that is good for people to read and sell a book. I knew that I can’t do that thing unless I had a helping hand every step of the way. It’s like walking or swimming, you need someone at the start.
It felts like learning to swim reading a book. The books will float you wont.
I had to do those mistake myself, bleed and sweat to get the right instinct to survive. yes survive, the startup is a fight not with other but with the inner self.
So what was my idea? I want to make a crypto web app which will inform the user about the chances of any coin rising or falling based on historical statics. It answered questions like “based on the last 50 days whenever BTC fall which coin is likely to raise the most tomorrow” Sounds good right?
The plan was people will use this info to make trade plans and that was the value proposition. The issue was it didn’t help at all. The reasons?
The first reason was all crypto rise and fall at the same time and the probability of the prediction was between 40 to 60%. Which wasn’t an actionable signal, my expectation was 98.3 % and I got 50%. I thought like I am making an AI app however what I was making as a simple statistic app. My aim and expectation didn’t match.
The second reason was an overloaded Database. I still don’t know what went wrong however the loading time was like 60 seconds for each query which felt like a year with a big loading disc in the middle of the page. I am not a tech founder and thus I was aiming to make the product looked and the tech part took a back seat which was the feel of the app. A simple consultation with an expert on the app architecture could have avoided this from happening.
The third reason was I am not a tech guy, this is not a reason why the web app failed as much as its the reason the web app didn’t succeed. It actually worked but never really worked as I wanted. I feel its best to focus on your strength hence don’t regret it, if the idea and marketing are your plus points do that but always focus on finding a good tech founder or freelancer. Avoid a freelancer who doesn’t understand the purpose of the app. Best way to know a good freelancer when they challenge your idea.
So the app was called Cryptohodl.in and its shelved however the learning as with me forever.
So what the lesson I learned:
- Make things that you need, scratch your own itch and stop assuming for others need.
- Find better Freelancer even if it costs a bit. Ask for the demo to check if work quality and communication.
- Focus on your strengths be it subject matter expert of the app or marketing genius.
- Map the app in your mind, things like how the app works, feel and response should be clear in your head. Saves a lot of back and fro.
- Make small, break small. I could have seen the end early if I worked on it’s in a smaller piece. Smaller doesn’t mean slow by the way.
What next! I am working on a new idea related to crypto, it’s more like a pivot, however, this time the idea is bit personal and related to a problem I am having my self.
Do comment and let me know what I missed, Do you have any such experience and more. Follow me on twitter @shakks