The whole month of January we’ve put together a series of podcasts to help you think through making your first product. Omitting one important question from the myriad stories, best practices and advice…
BUT WHAT IF I FAIL!?
Like Jenny Blake mentioned in her awesome story: it takes so much bravery to put a page up and ask people you don’t know to pay you money for something you’ve made.
So let’s talk about why that takes guts, why it’s a vulnerable to do this stuff… because failure is possible.
In this final episode of the First Product Series we want to walk through the idea of failure with you… help you navigate it. It’s not as scary as you may think.
What would make your product a failure?
What will you do if it fails?
If you sell exactly $0 on launch day, but make 30 sales over the next year is it still a failure?
The answers to these questions will help you make better decisions NOW… before the launch of your thing.
This is the fourth and final installment in the First Product Series. Throughout this series we’ve brought on successful business builders to share stories about making their first product.
It’s our hope that hearing these folks share their stories will help you realize an idea and a plan for your very own “shitty first draft” of a product to grow and improve over time.
(Find the other parts of the series right here: part 1, part 2, part 3)
I’ll ask you the same question I asked Corbett and Caleb: if you had these on CDs in your car, who’s interview do you think would listen to the most?
Guests on todays show:
Tara Gentiles — Business strategist and creator of the Customer Perspective Process for building truly social business models.
Brett Kelly — Founder and creator of Evernote Essentials. He literally wrote the book on Evernote (and it was so good Evernote hired him).
It’s better to listen on the go! Subscribe on iTunes
“I’m working to set my expectations up front and define failure on my own terms”
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More From The First Product Story Series
- Finding The Idea for Your First Product
- Pricing Hangups
- Conversion Essentials
- The Failure Plan (this one)
- 13 Successful Founders Share First Product Stories
Show Notes
Writing Wednesdays: Sticking Points — “Have you ever hit the wall? I have. Over and over. On any project–I don’t care how dazzlingly it starts out–inevitably the truck runs into a lake of goo.”
Know When to Quit, Pivot or Persevere (FS017) — “We all face what Eric Ries calls the hardest part of any startup: deciding whether to quit, pivot or persevere. Why is it the hardest part?”
What I Wish I’d Known Before Starting My Business (FS016) — “Some of our favorite indie entrepreneurs share their most important mistakes and lessons learned.” Our most popular episode of the show thus far.
Learn how to set goals that actually stick!
The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil' guide. Get the 10 Most Common Mistakes in Starting an Online Business here »
+1
If you guys were Muppets – Chase would be Fozzy Bear (the natural comedian – wakka wakka), Corbett would be Kermit (the wrangler of all the other Muppets and what holds them together) and Caleb is Dr. Bunsen Honeydew (methodical and always testing things in his lab).
I think all your intros have crept into my subconscious, so it’s possible that I’m thinking of something you’ve already used, but here goes.
If you guys were characters from a classic Hanna-Barbera cartoon. Corbett would be Ranger Smith, the guy responsible for the park’s smooth operation. Caleb would be Boo-Boo, the soft-spoken voice of reason. And Chase would be Yogi, lovable, if not a little verbose, with an unparalleled desire for pic-a-nic baskets.
I’ll be launching next week. Not exactly my first launch but I’m really nervous about this one. Wish me luck…
Really interesting topic. Although a little too “buttoned-up” for me. Chase was this episode accidentally sped up a little bit? Everyone’s sounds a little higher, especially Corbett’s.
Fellas, thank you so much for putting out this content.
Amazing quote from Corbett at the end.
Also, Caleb. I feel like you’ve spoken up more on these last two episodes (especially FS037), and hearing more of your voice has been incredibly helpful. Having that product in your mind for a while and just finishing it so you can move on is basically the product I’m trying to launch right now. I’m definitely in “the dip” right now and trying to finish the last 20%.
Also, if y’all were bagels/languages/VWvehicles/flavors of mustard/musical instruments/continents/letters of the alphabet/legends of the 80s/MTV VJs/Disney movies, what would you be?
You would…Be well!
Is anyone out there capable of keeping these 3 in check and on track? Or is it mission impossible. Hey! Got me thinking: If you 3 were Mission Impossibles, Corbett would be perfectly formed Ethan “Cruising” Hunt, Chase would be Simon “Cheeky Chappy” Pegg and Caleb would be … Ving “Are They Dead Yet” Rhames.
Hmmm …!
Great episode. Cheers!
Ha! Awesome, Tom :)
This episode was awesome wish we had heard this when nearly gave up 2 years ago.