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What do you guys do when a Venture fails?

Discussion in 'Making Money' started by Ander, Aug 7, 2016.

  1. Ander

    Ander Registered Member

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    I've spent the last 8 weeks working non stop, coding some software that I have finally started selling. I'm still in the very early marketing phase but from my ad campaign/marketing results so far it doesn't seem like many people will be buying.

    Gets me down thinking about it because of how hard i worked and how much time i put in. Wondering now should I keep pushing this product or just move on? What do you do when your website, product, business, etc. don't yield the results you were expecting?
     
  2. TheExecutioner

    TheExecutioner Junior Member

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    I wait it out for 2 weeks or more. If it's a definite fail I move on. I don't get upset. I've just learned some things that don't work when marketing apps.
     
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  3. mancar487

    mancar487 Jr. VIP Jr. VIP

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    Don't assume the project is a fail just because you are not selling. Try to dissect it and identify where the problem lies, eg.
    -are you getting the product in front of the right audience?
    -are you getting it in front of enough audience?
    -are you pitching it correctly to the right audience?
    -are the audience not buying because the product lacks some particular functionality?
    -what about your price, security seals, after-sales, refund policies, etc?
    .....
     
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  4. cnick79

    cnick79 Jr. VIP Jr. VIP

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    This right here. Figure out why you aren't selling before moving on. Some people think if you build it they will come which is not the case. Don't give up! Promote, get feedback, improve.
     
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  5. blommas

    blommas Senior Member

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    You'll always learn.
    Keep on grinding.
     
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  6. MisterF

    MisterF Jr. VIP Jr. VIP

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    How long did you spend researching the demand for the product ?
    How deep did you dig into the competitors ?
    Did you do a SWAT analysis etc ?
     
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  7. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Analyse what went wrong, start again.
     
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  8. Conor

    Conor Elite Member

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    It's not the product that's failing. It's your marketing. How long did you spend on that? Do some research on your target market and try different ways of reaching them.

    If Adwords fails, try Bing, for example.
     
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  9. IamBlackhatter

    IamBlackhatter Elite Member

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    Know your target audience get feedback from them and do it right the next time.
     
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  10. drey2k

    drey2k Power Member

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    Try a different angle and at the same time work on another project.
     
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  11. charto03

    charto03 Regular Member

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    This is the million dollar question on why things work and some do not.

    You have two options at this juncture:

    Option A) Start to pivot strategies to something that is viable and can start to generate users, clients, and or cash flow. From there you can start to target an audience that your software can be useful to and go all in on trying to dominate that niche.

    Option B) Decide if its best to cut your losses and start on the next venture. No hard feelings we all fail multiple times but it only takes one success to "make it".

    No decision is easy but such is life. Glad to take a look at the software and give you feedback.
     
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  12. Ander

    Ander Registered Member

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    well you guys were right. i have two versions of my product, a standard and premium version. After reading some of the responses in here I realized my ads were linking to the premium version so a lot of people would bounce due to the higher cost. Changed my ads to link to the standard version and got a sale an hour later.
    I guess marketing properly really is 80% of the battle :)
     
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  13. Conor

    Conor Elite Member

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    Congrats dude. Glad to hear you got it working.
     
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  14. mancar487

    mancar487 Jr. VIP Jr. VIP

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    Glad to hear that buddy!
    BTw on the premium landing page, you should also add in a pop-up/ exit intent pop, that offers the visitor the standard version.
     
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  15. Elin Dotsya

    Elin Dotsya Junior Member

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    Stuff like this makes me happy. You have no idea how excited I now get when I get up and do BHW methods. Even if I won't make a dime for months on end, the pay off will be worth it. ;)

    I can't even explain it. I used to be so lazy and always looked for the "how do I make $10 on autopilot" or "best way to make 100 dollars daily" and now I don't even care about that. I'm following @meathead1234's 100 a day method not because I only want to make 100 daily but so that I could eventually move on to better stuff, lol.

    I'm going to be honest with you guys. Remember a certain jokester by the name of @XileZaturo from a few years ago who didn't make a dime from most ventures but used to talk a lot of shit? That was me. I've since realized how full of shit I was and will never make it to even 10 dollars a day with my attitude.

    I know it's difficult to bite your tongue and just do what needs to be done. I'm still working on that.

    Never give up, dude. I once put in up to 16 hours/7 days a week for 12+ weeks of work and ended up losing over $300. It wasn't small money for me as it was my dad's hard earned money.

    Now I read everything I can, ask questions from people with knowledge and dedicate my time to a method until it works for me.

    You will succeed if you keep at it, but not just by doing hard work, but also smart work. Know your method like the back of your hand and you will be successful. I truly believe that.
     
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    Last edited: Aug 21, 2016