For the past several years, I’ve read every book on entrepreneurship I could get my hands on. It was a terrible waste of time, and now I realize it was probably textbook analysis paralysis.
Throughout this time, I had plenty of product ideas, but I always found myself getting stuck in the planning and strategizing phase, never taking action. And when I did manage to release a product, it never seemed to catch on. I realized later that I had developed these products before finding product-market fit, which was a big mistake.
But everything changed when my son was born. As a new parent, my priorities shifted. I realized that the most important thing was setting him up for success, and with how expensive college is getting these days, that will require a lot of money. I knew I needed to get out of “analysis paralysis” and take action if I wanted to provide for my family and give my son the best possible future.
That’s when I decided to take a different approach. Instead of trying to come up with the perfect product and business plan, I decided to build a portfolio of small bets. I wanted to quickly release a product, gauge the market and the idea, and then act based on what I learned.
This year, I released my first SaaS product: TeamDynamic. TeamDynamic offers online activities to help managers build stronger teams.
TeamDynamic is a small bet, but it’s a step in the right direction. I’m learning a lot about the market and how to build a business.
Overall, I’ve learned that the key to breaking out of entrepreneurial analysis paralysis is to take action and be willing to pivot as needed. It’s not about having the perfect product or business plan; it’s about learning from your mistakes and constantly adapting to what the market is telling you.
So, don’t be afraid to take risks and try new things. You never know what might work out.
How I started the journey of learning 3D printing.