Has Your Mom Hurt Your Chances of Launching The Next Uber?
If you’re anything like me when I first started out, you have a great business idea and have likely spent countless hours dreaming of what your product will look like and how your service will run flawlessly.
But, when reality sets in, you find yourself not knowing where to start or how to move your idea forward.
The consistent idea tweaking and time spent thinking, thinking, and analyzing has got you in a permanent stall, or your launch is just a side project.
What’s going on here? Did some of us over learn lessons at an early age that were ingrained by our moms, dads, or caregivers such as “do things right or don’t do it at all”.
Is this constant search for perfection holding you back?
Well, I can tell you from launching over 180 products and services that when in comes to entrepreneurship or launching any new product or service, the worst thing that you can do is try to be perfect, or keep kicking the launch can down the road.
Lessons You Can Take From Uber’s Launch
Back in 2009, Uber was just a side project for one of it’s founders. The idea for the startup originated in 2008. But, it wasn’t until 2010 that the initial test of the service kicked off. Uber started with just three cars in a test in New York City.
So, from the original idea in 2008, Uber’s founders, Garrett Camp and Travis Kalanick took about two years to officially launch. And the rest is history.
But, just imagine had they went all-in in 2008 and launched Uber then! An already wildly successful company may have exploded sooner.
That means two years sooner people could have avoided the agony of hailing a cab, drivers could have had more money in their pockets, and the Uber logistics machine could have have been capturing the market.
Now, in all fairness Camp and Kalanick, each had already carved very successful multi-million dollar exits in separate startups before joining forces (StumbleUpon and Akamai, respectively)… and from all accounts they were likely not ready to go all-in on another startup.
But unless you’re either of these guys, what’s your excuse? What’s your excuse for not launching your product or service now?
- Are you caught in a never-ending maze of ideas and don’t know where to start?
- Do you think you need to do more research?
- Are you listening to the voice in your head that says your launch must be perfect?
Bottomline, you do not need to have all the answers about how your product or service will run, or that it needs to be perfect. But, you do need to start, and you need to start today.
If you keep delaying your dream, then you run the risk of never getting your idea off the ground. You also run this same risk if you are trying to create a flawless launch.
The Cost of Over Analysis
I can tell you from experience that analysis paralysis gets you NOWHERE. Sure, it makes you feel like you are doing something, but what do you have to show for your work? Where’s your product or service?
Even if you have gotten started or already have a team of people supporting you, you likely haven’t been able to actually build anything yet, or show something tangible for the hours you have spent. And not to mention the money you have spent.
Spinning your wheels like this is just an insane waste of time!
We can measure the costs of any of these reasons too. For example, if you estimate that your product or service will bring you $100,000 in revenue per month, then you can imagine that over the course of one year that you are actually losing $1.2M.
Just think, this loss is all because you haven’t started. And, over ten years that amount comes to $12M … ouch!
If a one million dollar business sounds like too much for you, let’s calculate a modest $10,000 per month in revenue. Well then that means you are still LOSING $120,000 per year or $1.2M over ten years.
Come on!!! Get out of your own way and get on with it.
Perhaps you are listening to your mom’s voice in the back of your head that says everything must be 100% perfect. But, the reality is you can’t blame mom because you now know the cost of inaction.
So, unless you’re already sitting on millions from successful exits and have the track record like the founders of Uber, you can’t afford to wait.
The longer you wait, you are just burying your dream and potentially throwing away or delaying a product or service that could be a game changer.
founder, eLuminate Entrepreneur Network