Questions

I'm after my first startup fail and main reason for that was lack of experience, hard idea and due to my age, limitations. Right now my partner wants to create next company, but I've started considering other idea - I'm 16. Cannot I delay my startup for 2 years, for example, and during this period actively learn, gain contacts, do other projects (Currently, I've started one very experiencing) and so on? Also - I'm on a good way to become front&back end developer and I think, mastering it, before getting into startup could be very helpful for my future startups. What do you think? Thanks

Hello, I’m experienced in the startup world, having worked for many startups as well as helped friends start their own.

Experience is important, but also equally important is knowledge of the industry you are trying to break into. What is the goal of your startup, how do you plan to make a profit, and who is your customer. These are important questions. Before anyone starts a business they need to do lots of research and create their own business plan in order to avoid failure. You may need investments for marketing and advertising and other costs to run a successful business, how would you plan to raise this money, etc.

My advice is for you and your partner to take a step back, because another failure will be a tremendous waste of time. Try to find work in a startup that has a similar idea to yours and learn from them, learn how they operate, examine their daily practices and what languages and frameworks they’re using. After you have enough information, you may start developing your own startup in your free time after work. As you are a developer you may need to keep in mind that whatever software you build, if you want it to be successful it needs to be scalable, this means making sure you are using the correct tools, frameworks, devops process that can handle rapid growth. The software needs to be architectured well, so that if it is successful, you can keep building on top of it for many years, and it will perform efficiently.

But most important is the ability to keep the company running. It needs to generate cash and needs to attract people fast. It’s easier said than done because many people have many great ideas and spend lots of time building out the idea only to find that they are unable to attract customers. So it will require lots of research and marketing.

The perfect formula for a startup in my opinion is that it has a great product that works perfectly and solves a problem or fulfills a need that many people are having, with a great team behind it supporting it, and has a lot of potential for growth. Best of luck


Answered 7 months ago

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