2. We were looking to raise money from VCs and Angels but we decided to spend on our own and quit our jobs. Although it seems like a great thing to do because it means that you believe in your start up, that’s wrong because you shouldn’t spend money on your start up because it really gives you no other option to live. It makes you more stressful and dependent. It makes your lifespan shorter. You cannot always spend time on your startup because you’re always worried about money. From a financial perspective, when you’re spending money from your own pocket, there is no end to it. There is no budget.
3. We wanted to build the best and most comprehensive product that the world has ever seen which is completely against any idea of lean start up. When we started, it wasn’t there yet where everyone knows about Minimum Viable Product (MVP). We just thought that if a product is not good enough, no-one would use it so we would rather build the best product we can, which is against any common sense.
When you try out something simple, the basic, the core of your product, you collect feedback from your users, you see if you can even get users. Why would you spend so much time building the best future if no one would use it? We built a super complicated and probably useless product which took us more time and more money.
Lior lives in Tel Aviv, Israel.
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