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My Failed Business and What I Learned

· 6 min read
Robert Colley

Introduction

Over the course of the past few months, I have been working on a side project called AthElites.io. I wanted to build a platform that would allow me to be more honest with myself and help me keep track of my workouts better. I built the application using expo and I was very proud of the application. AthElites was published to the app store on June 26th, 2022.

The Idea

AthElites differentiated itself from other mobile fitness trackers by using customizable audio cues to help a lifter breathe, brace, and perform movements. The goal was never to teach a new lifter how to perform a movement, but rather help intermediate and advanced lifters take their workouts to the next level.

I will say, this was the part I was most pleased with of the project. Using the Expo Speech Synthesis API, I was able to get a prototype that was relatively customizable. This idea may be released as a standalone application because I do really like how this operates and has lots of potential. I realized in my own training that I find it hard to accurately count the number of repetitions in real time, and this eased the cognitive load while working out. This is something I will likely strip down and either release as a re-branded application (likely called "Cues" or something to that effect), but I have no desire to work on the project right now.

The Numbers

Here are some super big numbers for my first real project!

Money

Total Revenue$0.00
Total Spent$49.99
Net($49.99)

The only thing I spent money on was the AthElites.io domain.

Users

At the time of stopping the application, App Store Connect looked like:

MetricValue
App Store Page Impressions1,500
App Units26
Proceeds$0
Sessions40
Crashes0

Social Media

I found out the hard way that creating content is time consuming and I find it boring. I think trying to make videos and have a content calendar was a large part of the reason I stopped trying to build this application, since I really hated putting in the effort to slowly grow organic content. My approach was off and I wasn't focusing on actually driving app downloads by trying to sell the application; I thought the application would sell itself through the half-assed content I was creating. I liked twitter the most because it was the easiest to actually create - most of the tweets were easy and I quickly learned that joining the conversation on twitter was the best way to get likes and impressions, especially on trending topics.

TikTokValue
Posts8
Views1,806
Profile views52
Likes18
Comments6
TwitterValue
Tweets92
Impressions3,345
Followers20
YouTubeValue
Posts9
Subscribers5
Views1,848
Watch time4.7 hours
InstagramValue
Posts11
Followers10
Unique accounts reached322
Profile visits61

Why stop?

I've decided to stop working on this application for a few reasons. The main reason is I have decided to shift my goals and I need to cut back on the project I'm trying to do at once. I didn't burn out, but I really am not enjoying this project any more. I had lots of great ideas in the beginning and I think there is still a place for a mobile application to disrupt the current state of the mobile fitness tracking market.

The main reason I am cutting the experiment is that I watched a video discussing how to build a business without taking on debt. The video focused on a “sales first” entrepreneurial mindset. I realized that this project was not following a “sales first” flow because I was focusing too much on what the product actually was, and not trying to sell the project.

Social media is hard. Trying to build social media as a primary means of selling to people via TikTok and instagram without actually knowing what you're doing is hard. I was making videos as quickly as possible, an

Am I Giving Up?

Hell no I'm not! I'm working on another project with a friend and I'm going to take some time for myself to be creative and try and think of new ideas. I like to solve problems, and when I think there is a problem that can be solved with technology or building a website, I am ALL game.

But You're down $50

Yes, I am down $50. I'm very fortunate that this was not a lot of money to me and spending this money to further along my learning was well worth it. I learned so much about what goes into building a product and more importantly, building a product that people will actually buy. This whole experience has me thinking about shifting my focus to figuring out something I'm passionate about and enjoy enough to try and make a business.

What I've Learned

I've learned a few things, but the primary hurdle I overcame was asking people for help. I attended some meetings with SCORE mentors, which was a big deal for me. I tend to like to find the answer online or figure things out on my own. I used these meetings as guidance and confirmation that I was on the right track. I've also learned about my own time management and project management. I tend to work best when I can focus all of my time and attention at the task at hand.

I also learned about SEO and strengthened my understanding of what goes into building a business. I feel like I've gotten closer to building something that people will pay for!