If you’re creating something interesting then you should expect other teams to be working on similar ideas. It’s just the way it is. Any new idea is had by 3 other people at the exact same time as you had it. So, don’t be surprised if you hear about other startups launching in your space. The challenge is to not let it distract you. He why I think early startup competition doesn’t matter.
Most startups will fail. It’s just how the numbers work. The issue I have is with the definition of failure. Is it a failure when you get to work on something you’re passionate about? Is your day a failure when you learn something new? No. This post comes after the announcement that Sprouter will be closing their doors on August 2nd.
To say that I’m a fan of Sprouter would be an understatement. I’m a loyal supporter, contributor and consider Sarah one of my best friends. How the startup community and next generation of entrepreneurs interpret this event is very important. It’s critical that we understand what’s happening and put things into perspective. Below are my thoughts on why we must celebrate failures, especially amongst technology startups.
As an entrepreneur I love risk, moving fast and taking action. When I come up against a challenge I scheme to overcome it. But as I travel around speaking to entrepreneurs regarding lean startup philosophies, I hear stuff like this.
- “I’m scared to launch cause I might not be able to handle the demand”
- “We don’t want to charge because we want to make it easy for businesses to sign up”
- “We need to add a few more features before we invite anyone to use it.”
Most startups aren’t accountable to anyone but themselves. That’s not always optimal.