"I Wish I'd Known this before My First Start-up": 25 Helpful Advice
Bangalore: There is a common thing about all the startups. When the entrepreneurs who founded their startups look back on its inception, they get a better idea of what was important and what was not. It generally happens a couple of years after working on the business when they realise what was worth worrying about and what wasn’t as big of a deal.
Since entrepreneurs are the most qualified to give other entrepreneurs advice about starting a business, here is a collection of advice from 25 entrepreneurs about the number one thing they wish they’d known before founding their first startup.
This collection will help everyone who has recently started a business or is looking to start one, as compiled by David Hauser.
25. Neil Patel
Co-founder: Crazy Egg
“I wish I knew how to price test. When we first released the product we based pricing based off of what we wanted to charge, versus optimizing price to achieve maximum revenue and profitability.
At one point in time our customer base requested a lower pricing option. We did it because their was a high demand for it. Although it increased the total number of signups, it decreased our overall revenue. If we knew about price testing during that time, we wouldn’t have made this big mistake.”
24. Dan Martell
“That you’re not supposed to know how to do anything right, and that’s o.k.
It wasn’t till I sold Spheric and started working on Flowtown that I realized that you didn’t need to know how to do anything in the beginning - you just needed to get good at finding the right answers quickly. If you focused on learning, getting the right advice, in near real time - then you could take on any challenge. It’s quite liberating once you realize that.”
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