Failure Before Launch
Passion and commitment are the most instrumental requirements for success. It’s what separates the doers from the wanters, you know… the wantapreneurs.
Last December we embarked on what we thought to be an opportunity of a lifetime. The prospects of launching a business that genuinely solved various pain-points for musicians and venues alike were all too enticing for us to not — at the very least — give it a shot.
We shut down this August.
Not for a lack of traction, we had several early commits, from several local musicians and indie labels to established venues, all ready to go (venuewalkthru’s had already been done, and we were in the process of drafting the legal paperwork).
We failed due to a lack of commitment and passion.
We started Crw back at a Techstars Startup Weekend, originally with a different name and eight team members. We knew from the very beginning that there was a need for a service that would match musicians with venues looking to maximize their time and optimize their venue space.
It was a very simple concept, we’d measure demand for a musician thru crowdfunding and once enough funds were raised, venues would book the musical act along with the fans that contributed the funds. Essentially, we were eliminating the booking agents and bringing data to live music booking.
We pitched and won. Months later we were covered by the media, competed in several competitions, the team shrunk to just three of us, and ultimately made it to eMerge Americas where we pitched in front of dozens of attendees, as a university startup, for a chance at a cash prize. Long story short, we lost in typical Miami shadiness fashion (but that’s another story for another day). It was a great opportunity to say the least, with tons of exposure.
None of it mattered.
With idea in tow and MVP already built, it was up to us to build and deliver the product our customers wanted.
We failed spectacularly. Countless hours and miles driven from our day jobs to our meet-up spot were all wasted. We simply didn’t provide the commitment or level of passion required to carry on and make something out of nothing. Maybe it was because we didn’t know each other all too well, or maybe it was because we simply didn’t have the support system in place.
The lessons are clear: no matter how great your “idea” is or how thirsty you are for entrepreneurship, passion and commitment are the most instrumental requirements for success. It’s what separates the doers from the wanters, you know… the wantapreneurs.