The 3 Biggest Mistakes We Made at Goldphish (So You Don’t Have To)
- Esteffan Coetzee
- May 23
- 3 min read
If building a startup was easy, everyone would do it. Spoiler: It’s not.
When we started Goldphish, we were full of ideas, optimism, and enough coffee to power a small city. But for all the wins we’ve had, we’ve also made some spectacular mistakes—mistakes that could’ve derailed us if we hadn’t learned from them fast.
Here are three of the biggest screw-ups we made, why they happened, and how we course-corrected.
1. Focusing Too Much on Building 🛠️ and Not Enough on Selling 💵
Ah, the classic trap: “If we build it, they will come.” Yeah... They didn't.
In the early days, we poured all our energy into making the product as polished and feature-packed as possible. We told ourselves that the better the product, the easier it would be to sell. Turns out, no one buys something they’ve never heard of, no matter how great it is.
What we learned:
Selling starts on day one, not “someday when it’s ready.”
Talking to potential customers—even with a rough product—teaches you what they actually need, not what you think they need.
The feedback you get during the selling process will make your product better than any brainstorming session ever could.
How we fixed it:
We shifted focus. Instead of adding more features, we started reaching out to SMBs directly, demoing the product, and listening to what resonated (and what didn’t). It wasn’t easy—it’s hard to hear “no” after you’ve poured your heart into something—but it was essential.
2. Neglecting Customer Onboarding 🚀
We thought we had built such a simple, intuitive product that customers wouldn’t need much help getting started. Big mistake.
Without clear guidance, some users struggled, got frustrated, and eventually left. It wasn’t because the product didn’t work—it was because we hadn’t set them up for success.
What we learned:
Customer success starts the moment they sign up. If you’re not showing them how to win with your product, you’re losing them.
Great onboarding reduces churn and increases engagement. Customers who know how to use your product stick around longer.
How we fixed it:
We built a step-by-step onboarding process, complete with tutorials, FAQs, and real human support. The result? Happier customers who not only stayed but also referred us to others.
3. Flying Blind on Metrics 📊
In the beginning, we weren’t tracking the right metrics. We got distracted by vanity stats like website traffic and social media likes while ignoring the numbers that actually mattered: churn rate, customer acquisition costs, and lifetime value.
You can’t run a business on vibes and hopes—and we learned that the hard way.
What we learned:
Churn is the silent killer of startups. Even if you’re signing up new customers, a high churn rate means you’re running on a treadmill going nowhere.
Customer lifetime value (LTV) and acquisition costs (CAC) are your north stars. If CAC is higher than LTV, you’re burning money.
How we fixed it:
We started tracking the metrics that mattered and adjusting our strategies based on what we saw. It wasn’t glamorous, but it worked.
Mistakes Aren’t Failures—They’re Lessons
Every one of these mistakes sucked in the moment. They were frustrating, sometimes embarrassing, and always humbling. But here’s the thing: mistakes are the best teachers, as long as you’re willing to learn from them.
At Goldphish, every screw-up brought us closer to building a better business. It taught us to focus on what matters, listen to our customers, and never assume we’ve got it all figured out. 🤙
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