3 lessons learned from building a 10.000 User Startup and FAILING!

Before I start with this article, for all of you analytics guys, I know that the metric “number of user signups” is a vanity metric so, just for your, I had around 2000 MAUs with 300–500 DAUs.

Just as a quick background, I created a dating app that served a small ethnic group of expats.

Lesson #1: Befriend two guys, Qualy and Quanty!

The single biggest reason why my startup failed is because I didn't properly understand metrics and analytics, didn't utilise analytics tools to their max as well as didn't talk to customers and get their feedback. I didn’t understand the power that is created by firstly understanding and then combining qualitative and quantitate data and then implementing features supported by that data. Best advice that I can give you as far as qualitative data is concerned is to implement vehicles that provide you with user feedback like those annoying popups and modals that ask users if you they are satisfied with the product and rate their product experience from 1 to 5. When it comes to the quantitative data aspect, take a basic course on product analytics and read a book called “Lean Analytics” by Alistair Croll and Benjamin Yoskovitz. It will give you a solid understanding what metrics you should track and focus on.

Lesson #2: Love the problem, not the solution!

This is something that most Startup founders get wrong and I did too until I read this quote in a book called “Running Lean” by Ash Maurya. I too was in love with my product/solution and was too attached to it. I didn’t get enough customer feedback and when I did, instead of looking for a way to implement new features, I tried to explain to the end user why I thought they were wrong and I was right. Don’t get me wrong, I didn’t dismiss every suggestion that others told me and have implemented many of them, but in my mind, especially in the beginning, I was the king of my products and loved my solution. I didn’t spend nearly as much time as it was required to fully understand the problem and in the end, didn’t reach product-market fit.

Lesson #3: Find a mentor that has already created a FEW ventures and is actively building a new one!

This one is so crucial. I see so many Startup founders getting mentored and advised by guys who only created one successful Startup and after that went into conservation mode. Don’t take this the wrong way, those guys are really smart, you can learn a lot from them but in my own opinion, I don’t want them as my primary north star mentors if you will. Why? Because they are not active anymore, their brains aren’t producing those juicy inspirational ideas and thoughts that are relevant to stay sharp and on the ball. Also, I like people who are always hungry for success and who no matter how much money they have, feel a sense of urgency to do, create something and leave their impact because I myself am always hungry for new mountains to climb and to take risks. Luckily, I had a pretty good primary mentor Faris Zacina, who even though is massively successful, continues to grind and work harder no matter what!

I have made a plethora of other mistakes and errors in the last 3 years and thankfully have learned so much. I am 20 years old now and have gained tremendous Startup experience and will definitely try to implement these lessons in my next venture.

I hope that you learn from my failures and implement these lessons into your journey!

Cheers!