review: Internet video games website PlayCafe founder Mark · Gao Dengsen (Mark Goldenson), the author summarizes the ten lessons, his business failed. The following is the main content of the article:
a year and a half ago, and my company co-founder David · naige (Dev Nag) with the founder of the Internet video games website PlayCafe, we hope to run a personal overweeningly ambitious and ginseng and highly interactive game show. Game player can watch our program, answer questions and win prizes form teams, real-time chat and run their own game, this is a huge project, although the game player enthusiasm is high – the user can watch the averaged 87 minutes of the show, 40% of users will visit again within a week, but the user the scale is still small. We may resume operations, but for the time being, we have decided to suspend the operation of the website and return the remaining funds to investors.
this is the reflection on our understanding of past experience and lessons and how to improve the next time, I feel there are many entrepreneurs are afraid to discuss their failure, thus losing an important opportunity to learn, I hope you can get help from our lessons.
1, first looking for fast money
we were lucky enough to meet some of the top investors, but we spent too much time negotiating the terms of the investment. There are only about 30 top investors in Silicon Valley, who usually have enough investment projects at hand and wait quietly to minimize their investment risk.
money is more valuable than investment advice or networking. Next time, we will focus on expanding the investor network, targeting people who are willing to make rapid investments in the early stages of their business, even if they don’t have much of a reputation. Holding a three meeting with an investor can take too long to show that your relationship network is not big enough. In addition, smaller investments will give you more time. For example, investor David ·, Shen (David Shen), made a thorough assessment of our website, and he only decided to give us money once after a meeting. So you have to find ten investors like David · and shen.
and, as long as your project is good enough, big ticket investors will come naturally.
2, don’t do it yourself,
producing quality content every day is an extremely difficult task, especially for real-time content. In television, for example, studios focus on production, and the television network is responsible for playing. The reason for this pattern is that both television production and playback are very hard work. David and I realized that we were production is completely new, but we find that most probably it did not actually happen, beauty is a thing about playing the game an easy job to do in front of the camera and the users, but the fact that we are wrong, this is not our > content production