In a continuation of last week’s theme about what usually happens day-to-day at startups, this week I take a moment to remind us all how this whole thing usually ends up:
If you clicked any of the above links, you noticed that some of the announcements were post-mortems from the founders.
My friend, Matthew Douglass, CTO and co-founder of Practice Fusion, shared a great post which collected 51 of these “lessons learned” posts from failed startups.
It’s so great that it inspired me to write a whole post here just so I could link to it. With strong emphasis.
One excerpt in particular from a company called Schnergle resonated with me. I feel it speaks to the startup founders who think they’ll build a venture-backable company in the education sector simply by giving their product away for free:
Find some way of charging money from day one. You can still use a freemium structure to up-sell later.