Recently, my wife-turned-business-partner and I had the chance to pitch our business, Dance It Yourself, to a venture capitalist while parked in an Uber outside of our apartment building.
It was a promotion from Uber. For one afternoon, anyone could request a chance to pitch a VC. For free.
As we've formed a strategy for getting funding, I've always known that the first investor we pitch would not be successful. Almost no matter what. There are so many nuances and "rules" for every new endeavor, so the first go at something is always a learning experience.
In this case, our meeting went really well, but we still learned so much. Since we're not quite ready for funding, this opportunity was a perfect "first try."
Now we're more prepared for the next investor we talk to— we've increased our chance for success exponentially.
It's the same thing on the product side of the business.
DIY requires new frameworks and server setup that I haven't used before.
I know that I can't build a product that will scale and last if it's the first time I'm using these things, so I'm building side projects with each to get all of that learning and mistaking out of the way.
The DIY platform as a whole can even be put in this category. It's not a "failure," but it's the first attempt that I've always known will get completely redone.
That's just the nature of things. How unlikely is it for anything to be perfect on the first try? It's almost ridiculous.
This relates well to another philosophy I follow: the rule of threes.