I found this great post on VentureBeat, 10 Lessons from a Failed Startup, where entrepreneur Mark Goldenson tells you the ten things he learned from his failed internet TV network for games, PlayCafe.
Here’s a summary of the ten things Mark learned:
- Find quick money first
- Content businesses suck (or, do it for love and expect to lose money)
- Know when to value speed vs. stability
- Set a dollar value on your time
- Marketing requires constant expertise
- Control and calculate user acquisition costs
- Form partnerships early, even if informal
- Plan costs conservative and err on the side of raising too much [money]
- The key to negotiating is having options
- Knowing isn’t enough
You can read the complete post here, which is passionate and full of first-hand, hard-earned wisdom.
Let’s hope Mark has better fortunes on his next try which, per the bio, is going to be an innovative venture in web health care. Good luck with it!