One of the most common problems for entrepreneurs is the issue of failing to launch. Oftentimes this is self-imposed and the hurdles that hold us back from actually going to market are placed in our way by none other than ourselves! This failure to launch syndrome is what we will be discussing today and we will be looking at why it happens to business owners, signs that point to this issue and then how to avoid this pitfall and ultimately get your offer out into the world and making you money! In our discussion, we break down each of these three sections, so that you might understand, recognize, and steer clear of this big problem. Do not fear, failure to launch is a problem that faces almost all entrepreneurs at some time in their careers. There are a ton of great tactics and ideas in this episode, from launching first and iterating later, to letting go of too much control in order to grow, we give you all the tools you need to overcome the obstacles in your path. We touch on the ego, fear, minimum viable products and why there is good pivoting and bad pivoting. So for all this and a whole lot more join us on the 60 Day Startup Podcast to get your business launched and flying high!
Key Points From This Episode:
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The beginnings of 60 Day Startup and the challenge we put together!
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Reasons why people experience a failure to launch moment: fear of success and failure.
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Getting used to the constant fear and loss of control that comes with entrepreneurship.
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The relationship between control and growth: you cannot scale and remain in complete control.
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Hang-ups of the ego and separating yourself from possible business failures.
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The importance of feedback and why ignoring customer reviews could equal your peril.
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Over-planning, over-strategizing, and going endlessly deep into a project.
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Aiming for a minimum viable product (MVP) and avoiding shiny object syndrome!
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Different kinds of “pivoting” and why it can be a distraction tactic dressed as something else.
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Launch first, iterate later! Wait for the post-launch data to make changes!
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Practicing discomfort and getting accustomed to situations with some risk or strangeness.
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Thinking your way out of irrational patterns of reasoning with fear-setting.
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Keeping yourself accountable; public commitment, partnering up and testing the waters.
Tweetables:
“It was just so surprising to me, that… we couldn’t convince anyone to just take that final step. They had already done all the work.” — @whatsPaulUpTo [0:05:06]
“Probably the biggest reason, I think, that people have some failure to launch is fear.” — @michaelshoup [0:07:01]
“The thing that’s funny about fear is that it is almost always overblown in your head.” — @michaelshoup [0:07:56]
“If I am trying to run a business and I want to control every little piece of it, it will never become bigger than just me.” — @whatsPaulUpTo [0:10:15]