This is my list of 10 learnings in no particular order:
- Having a passion for an idea is not enough. Use your head as well as your heart!
- Setting up an .com company is lonely on your own. Don't do it without a partner!
- If you prefer not to sit behind a computer all day/night, then a .com is not for you!
- Taking a copy of a site and adapting it doesn't work. Start with a fresh canvas!
- If the site is not built in a search engine friendly way, you may as well give up now!
- Don't bite off too many segments too soon. Make a niche target segment a success first!
- A consumer need for something doesn't always materialize into wanting your solution!
- Rather than setting up a Ltd co., start with as sole trader, it costs less money and hassle!
- Never regret taking a risk and following your passion. At least you had the guts to try!
- Cutting your losses and stopping something, is a strategy, it doesn't mean failure!
Hmmm the fact that I incorporated the company and site on the "13th" (of July 2007) may also have had something to do with it not being a run away success! But what a lot of valuable learnings and I also got a a personal signed letter from Sebastian Coe [ex-Olympian & London 2012 champion] thanking me for my sports community idea!