#317 - This Was Probably My Biggest Mistake Ever

Wannabe Entrepreneur

Have you ever made a critical mistake that had a significant impact on your business? In this episode, I'll be sharing my own experience as the co-founder of Podsqueeze. Blocking the upload feature to combat fake accounts seemed like a good idea at the time, but it ended up causing a decrease in user engagement and revenue. I'll be discussing the importance of data-driven decisions and monitoring metrics. Plus, I'll be sharing my frustrations with high taxes and corruption in Portugal, and why I believe in advocating for change rather than relocation.

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Timetsamps

Blocking the Upload Feature (00:02:42)

Tiago discusses his decision to block the upload feature on Pod Squeeze to prevent fake accounts and the impact it had on reducing the number of fake accounts.

Revenue Decline Concerns (00:07:02)

Tiago and Joanne express their worries about the declining revenue of Pod Squeeze and discuss the possible reasons behind it.

Increase in Empty Accounts (00:09:19)

Tiago analyzes the increase in empty accounts on Pod Squeeze after blocking the upload feature and realizes that it may have negatively impacted conversion rates.

The Mistake (00:10:23)

The speaker discusses a mistake they made by not testing a feature, resulting in a decrease in conversion rates.

The Confusion (00:12:13)

The speaker discusses their confusion about the unexpected increase in conversion rates despite fewer people trying out their product.

The Changes and Decisions (00:16:27)

The speaker talks about rolling back changes, allowing one upload per free account, and the importance of plotting and monitoring metrics.

The taxes in Portugal (00:20:28)

Discussion about the complexity and high rates of taxes in Portugal for entrepreneurs.

Corruption scandal in Portugal (00:21:39)

Frustration and powerlessness regarding the corruption scandal involving the prime minister and ministers in Portugal.

Interviews and podcast updates (00:23:50)

Mention of an interview with Dagobert about mental health and an upcoming interview with Andrew Decky. Also, mention of Mark selling his business and his AMA episode.