When To Shutter (Shut Down)/Not Launch Your Product
As a founder I usually get in very very early and sometimes exist even earlier. One of my startups we shut down last month. About a year - based on our small amount of market testing and spend, decided to pull the plug and not launch - we only built a high fidelity prototype but were debating about whether there was a market.
This comes out today.
https://www.linkedin.com/news/story/larry-page-shutters-flying-car-dream-6001994/
Validation we made the right call.
I am used to shutting down businesses even before they have legs.
However curious as to when founders here decide to shut it down and focus on greater ROI elsewhere vs continuing down the murky path?
More importantly, how much customer research do you do where you believe you have enough to validate or negate your initial thesis/hypothesis.
I feel its important to clearly delineate conceptual research from design research at the earliest stages unless you know for sure (from domain experience) that the concept will fly. Otherwise it can be extremely hard to tell the difference between conceptual and implementation problems, even for an experienced researcher.
Agreed. Sometimes you just have to spend money to test.