The Power of Learning from Failure: Insights from Failory
Hello, Hexagonians! Welcome to our newsletter where we bring you the latest posts, success story, tips and maybe a joke or two to brighten up your day.
"We write to taste life twice, in the moment and in retrospect."- Anaïs Nin
Today’s Success Story: Failory
Nico, who lives in Buenos Aires, Argentina, began Failory newsletter for Startup Founders in 2017.
Subscribers- over 30,000
Revenue- Unknown
👉 See Failory
What is Failory?
Failory is a content site for startup founders and entrepreneurs.
I started as a website where I interviewed the founders of failed startup. That's where "Failory" comes from: failure + story.
I send weekly emails with the latest content, some updates on the behind scenes of Failory and some startup-related articles and podcasts I find interesting.
How is Failory monetized?
Sponsorships, Affiliates, Digital products
Things we can learn from ‘Failory’ Success
From this success story, we can learn the following important lessons:
Learn from your mistakes: It's important for entrepreneurs to embrace and learn from their mistakes. Rather than being discouraged by failures, view them as valuable learning opportunities. Reflect on what went wrong, identify the lessons, and make adjustments accordingly. By continuously iterating and improving, you increase your chances of achieving success with your startup.
Validate your idea: Before fully committing to launching your startup, it's crucial to validate your idea. Create a minimum viable product (MVP) that showcases the core features of your product or service. This allows you to gather feedback from potential customers and gauge their interest. If the feedback is positive and you can generate hype around your product, it indicates a greater likelihood of success. However, if the response is lukewarm or negative, it may be necessary to pivot or explore alternative ideas.
Build an audience: In the early stages of your startup, focus on building an audience and generating interest. Invest time and effort in creating a compelling landing page and showcasing your MVP. By attracting people who resonate with your idea, you can gather valuable insights and feedback. Additionally, having an audience creates a foundation for future growth and can increase your chances of success when you officially launch your startup.
Listen to your customers: Your customers are a vital source of information and guidance. Actively listen to their feedback, suggestions, and concerns. Pay attention to their experiences and preferences, as they provide valuable insights into improving your product or service. By consistently incorporating customer feedback into your iterations, you demonstrate that you value their input and are committed to delivering a solution that meets their needs.
In summary, learning from mistakes, validating ideas, building an audience, and listening to customers are crucial aspects for entrepreneurs to consider on their journey to startup success.
POSTS you can Read
BUSINESS:
SPORTS:
TECH:
TIPS for writing an effective newsletter
Clean your newsletter’s subscriber list at certain intervals.
Send a welcome email to each new subscriber, incentivizing them to reply to it.
Don’t send too many emails. But send emails regularly enough that subscribers don’t forget about who you are.
Thanks for reading The Hexagon Newsletter! Subscribe for free to receive new posts.
Until next time; Stay informed, stay inspired, and stay connected with The Hexagon Newsletter
SUBSCRIBE because maybe you are the next one to get featured in the Success Story section.