The High Price I Paid for Not Being Agile

This is a true story about how I learned the hard way why agility matters.

My life is full of failed attempts, but each one has taught me something valuable. I believe mistakes are more powerful teachers than successes. You can’t judge my journey unless you’ve walked in my shoes — so let me share a lesson I learned firsthand, one that cost me a lot of time and money.

I didn’t become an agile/product coach after a two-day training course and a multiple-choice test. It took me years of experience — working across industries, in different roles, as both an employee and an entrepreneur. And today, my biggest challenge is telling this story briefly. 🙂

The Birth of an Idea

In the late ’90s, I was searching for a new business to invest in. The stock market was booming, so I immersed myself in learning everything I could about it. I became an active investor, spending 12 hours a day trading. I quickly realized how hard it was to find quality information for small investors like me.

There was no Stack Overflow. Google was just getting started. The internet was nowhere near what it is today. Finding reliable market data and analysis was a challenge.

That’s when I had an idea: Why not create a website where small investors could access all the information they needed to make better trading decisions?

I founded Mind Crusher Technologies, a small company focused on online content. With the help of my own capital and some strategic partners, we built the first Stock Market Website in the Balearic Islands. It provided stock market data, news, and market analysis, with content authorized by EFE and The Madrid Stock Exchange between 1998 and 2001.

One of our biggest partners was a major stock data provider. They didn’t want to repeat the mistake of ignoring fintech opportunities, like what had happened with Patagon, one of the first fintech startups, which was acquired by Banco Santander for $540 million in 2000.

My Biggest Mistake

Now, let me be clear: I was the worst kind of stakeholder.

I thought I knew exactly what users needed. I wanted every feature to be perfect before launching. I pushed development to include everything, convinced that we couldn’t go live without having it all.

But here’s what I didn’t consider:

• I never tested if my assumptions were correct.
• The world was changing while I was stuck in my own vision.
• I ignored the advice of my own developers, who suggested testing early to see if the product was worth pursuing.

Instead of adapting, I insisted on the whole enchilada — gold, silver, and diamonds included. I thought I knew what users wanted better than they did. Silly me.

The Dot-Com Bubble Burst

We finally launched. The product was fantastic — fully loaded, polished, and ready to go. I had poured in my own money, plus stock shared with partners. “Build it, and they will come,” I thought.

But then, reality hit.

Money was running out. The dot-com bubble burst. Investor confidence in online businesses collapsed. Hedge funds shut their checkbooks. The Nasdaq crashed. Companies folded.

I desperately tried to find new investors or a bank to buy us out. But no one wanted to touch anything related to dot-com businesses. My startup closed. I lost everything I invested.

The Hard Lesson

The biggest mistake? I never truly engaged with users before going all in. I didn’t prototype, didn’t test early, and didn’t gather feedback.

By the time we launched, the world had changed. We weren’t able to adapt.

What I Learned

I was lucky. I managed to pivot my company into where people were flocking after the dot-com collapse. But that’s a story for another time.

The experience changed me. Since then, my journey through agility began.

Agility isn’t just a trendy buzzword. It’s not about sticky notes, rainbows, and unicorns. It’s about adapting quickly, working with real users, and staying flexible in a changing world.

That’s why, wherever I go, whatever role I take on, I carry this lesson with me:

Test early. Adapt fast. Focus on what truly matters.

Francisco Cobos

🐢 “Poc a Poc” (Little by Little)