On Failure and Following Through
About a year ago I had an idea brewing in my head. Get rid of paper road cards and replace them with a system better than the current scanner tech on the market. I’ve sat through countless college fairs as a student and alumni representative of my alma mater—students hate them. It’s not a secret. I have also probably entered thousands of road cards as a student employee. I hate them. And so, I thought there had to be a better way.
I’ve got a serious passion for higher education enrollment management. I love marketing. I have an MBA. What better way to combine these things than by creating a business product that solves a problem in the higher education industry?
So I went about building a team. As a team, we went about creating detailed financial models, extensive technical specifications, and exhaustive marketing analyses. We met with institutions and school counselors in person, online, and over the phone. We got lots of feedback but one overwhelming response kept coming in: this is fantastic.
And so we entered a business competition because we needed some money to hire a developer. And also, why not enter a business competition?
Well. We lost. Like, didn’t-make-it-to-the-second-round kind of loss.
And six months later I’m here--finally okay with the fact that we lost--writing about it.
After we lost, the reality of losing really set in. I didn’t know how to respond, personally. The product sat in a state of stagnation for the entire summer. Sure, we still had some great conversations with schools and reps and continued to refine our pitches to always be prepared for that random angel to give us a call. But I personally struggled with how to move the company forward.
As I come up on the date when the idea first hit me, I’m reminded that this setback will be the first of many. A strong competitor will enter the marketplace. Development will be delayed. The team will change. The idea will evolve.
That’s the business of starting something. But the real business is following through.
Over the past three years I’ve made significant connections on both the institutional and corporate side of this industry. As leadpath moves into its next phase with renewed energy, I just want to extend thanks to everyone who has offered advice along the way, whether it was business strategy, product development, or simply allowing me to ping you with a million questions. It meant—and means—a ton and I’m excited to see what the future holds.
And if version 3.0 doesn’t come to fruition in the way I hope, well, I suppose I’ll just keep following through.