Music Industry startup: Everyone is telling me its hopeless. I’ve not exactly proven them wrong yet. All my projects have failed; hits me hard and makes me feel like a fool with ‘I told you so’ attitudes apparent. I try and stay positive but its hard
6 answers from the community
Just like every other entrepreneur that has failed. You are too emotionally invested in your startup to actually look at logistics and realistic details. Either do something unique or change the startup.
Failure is a pretty normal part of the entrepreneurial journey. It's really only a true failure if you failed to learn and grow. That said, you've got to know when to move on. I find the easiest way to do this is setting up milestones. If you're unable to achieve them in the time you set out to achieve them then move on. Be objective about this.
I had two failures before my first win. Hard, uncomfortable lessons came from each. But you've got to play the long game. It doesn't matter if this one project dies, as long as your entrepreneurial life doesn't die with it.
Nothing beats a failure but a try! if you're that concerned with failure, then don't fail.
Examine why your past projects didn't work and go forward fixing those errors. For example, did you research before doing the last one? Did you target the right market? Did you solve the problem? Did you do any marketing? Who are your customers? How much will they pay?
Do better this time and remember that naysayers sometimes have the tendency to see with a limited scope. Customers and the market need your solution and step up with their dollars. So when people say no, ask if they are the market and a customer. If the answer is yes, find a new solution. If the answer is no, go find a real customer.
Do this now and in the future and i garantee you total professional and personal success : audit your friends ! Whoever is not there with you, kick them out! You dont need deadweight
Did you listen to what your friends told you? Were you able to counter it with facts, data, or something rather than blind belief that your idea was super awesome?
When I vet ideas, I approach a lot of people and tell them that I dont want you to agree, I want to hear why its stupid. If my concept can counter most of the valid negative feedback, it gives me confidence to push through.