WHY YOU SHOULD BUILD IN PUBLIC

You have probably heard motivational speakers say that you should build in silence (secret) WRONG! I say build in public

Building in public is a strategy that involves sharing one’s journey, challenges, successes, failures, and learnings with a wider audience, usually through social media, blogs, podcasts, newsletters, or other platforms.

THE CASE OF PAVEL DUROV AND ELON MUSK

If you asked many people who Pavel Durov is, few will recognize him. Worth over $15 Billion Durov is the Zuckerberg of Russia. To cut the long story short, Durov is the owner of Telegram.

When Musk took over twitter, few, including myself thought he would succeed. This is a guy who is not afraid to say what he thinks and put his money where his mouth is.

You may be asking where I’m going with all this.

Elon and Durov are classic examples of people who build in public. I will explain later.

MY FOREX EXPERIENCE

I usually trade the FX Markets once in a while and whether its a startup you are building or you are trading, the game is the same. I have been lucky to see people move from armature traders to intermediate just by sharing what the are doing and being in a community.

While I don’t trade as much as I would love or share my forex setups, when it comes to startups and tech, I have found a place/space and I love the growth that I have had.

WHY YOU SHOULD BUILD IN PUBLIC

When Durov and Musk want to introduce a new feature and they are not sure about it, they usually throw the idea out as a casual remark to gauge users reaction. While that doesn’t they will do exactly what users say, it helps them when introducing an unpopular feature like the Twitter Blue for example.

Here are a few reasons you should build in public:

1. Increases the Potential of attracting Like-Minded People: Once you start sharing your journey, you will notice very many people are either at the same stage as you, have passed through that stage or are eager to see how you pass the stage. Building in public can also help you validate your assumptions, test your hypotheses, and find product-market fit faster by getting feedback from real users.

2. Humanizing your brand : There is nothing more important than building a connection with your users. By sharing or say building in public, you not only build connection, you also build trust, loyalty and empathy.

3. Meeting Those Deadline: I wanted to push this piece to some other time because I did not feel like writing. I also have a few other things on plate that are urgent but then I remembered I made a promise to you. By announcing your goals, milestones, deadlines, and progress to the public, you can motivate yourself to work harder and faster. You can also avoid procrastination, distraction, and perfectionism by focusing on delivering value to your audience.

4. Build a strong relationship with customers: Building in public can help you engage with your customers more frequently and effectively. You can communicate with them directly through comments, messages, surveys, polls, or other channels. You can also involve them in your product development process by asking for their feedback, suggestions, opinions, or ideas. This can help you create a loyal fan base that feels valued and appreciated.

Of course there are cons such as attracting copycats, exposing your weaknesses and mistakes to others and facing criticism and very harsh and negative comments. These are things you cant escape as a founder.

Overall I believe the pros are more when it comes to building in public.

Don’t be shy. Go out and share. Talk about that which you are building with conviction.

Have a lovely week!