Andrey I really admire your dedication to the projects and your willingness to share openly your step-by-step process. I think that’s what makes truly great content! Good work. So detailed and authentic.
On another note, I also really love how you look at this “failure” as an opportunity to learn and grow which is what all “failures” really are. So you described an idea you had, the way you went about developing it, your fears and frustrations and solutions to the problem as well as your process in marketing your idea and pre-selling. That’s amazing. HOWEVER, if I am reading the numbers right from $1,000 in income you were only planning to get $160 in profit (which you call revenue), is that correct? If I read it correctly then it would be clear to me not to pursue such a project with only a 16% margin. A good margin would be 35–40% and that would make it worth it. But I also speak from the info-products marketing and business background and not from e-commerce background so the numbers in that industry might be different.
I think that side projects are awesome and always such a great opportunity to learn and grow however I always ask myself “Is that really worth pursuing and why? Is this important and why” and if I have clear answers about the whys then I go into it. I’ve become a really big fan of focus and deep work and deep work comes from really focusing on what’s important and not on “Wasting” my talents on something exciting and shiny :) I see so many projects being started like this and are truly great but the founders haven’t really thought it through and asked themselves why? BUT there is also another side of the coin where people do it for the sake of simply doing it as for fun and hobby. Kind of like writing is for some people.
Just a couple of thoughts from a writer and a fellow entrepreneur :)