Remove Burn Rate Remove Customer Development Remove New York Remove PR
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Lessons Learned: Achieving a failure

Startup Lessons Learned

Launch with a PR blitz, including mentions in major mainstream publications. Worse was the large staff in departments appropriate to a mainstream-scale product, especially in customer service and QA. The passionate early adopters who flocked to the product at its launch could not sustain this outsized burn rate.

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Lessons Learned: Don't launch

Startup Lessons Learned

Announce a new product, start its PR campaign, and engage in buzz marketing activities. Marketing launch) Make a new product available to customers in the general public. Do your customers really read TechCrunch? Do some Customer Development instead. First off, what does it mean to launch?

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Lessons Learned: Cash is not king

Startup Lessons Learned

The full formula works like this: runway = cash on hand / burn rate # iterations = runway / speed of each iteration Very few successful companies ended up in the same exact business that the founders thought theyd be in (see Founders at Work for dozens of examples). Were talking PayPal -sized variations.