Perfectionism may be a key to failure.
Let’s admit it – most startups fail. Working with startup companies for many years, I came to the conclusion that a lot of companies share one problem that sucks their budgets, motivation, and as a result leads to failure or dramatic over-spending. The problem is called perfectionism.
I mean there’s nothing bad about being a perfectionist, but in most cases MVPs don’t require pixel-perfect design or dozens of “amazing” features that stakeholders try to design and deploy before the initial launch.
Smart ways to use your time and money
Here’s a bunch of ideas we have, which will hopefully help new startup entrepreneurs work on their products more effectively and efficiently.
- Instead of creating a perfect product, focus on MVP. Let it be simple and plain, but really working.
- Use iterations. Quick wireframing, testing, design, testing, deployment, testing, and then launch. Then you can switch to perfecting and polishing your solution. But at this point you will get real users’ feedback that will help you wisely channel your energy (and investors’ money).
- Distribute your budget gradually over a longer period of time. Don’t spend $120 within a month. Better to spend $10 each month over the course of a year. The results will be fascinating.