Too Long; Didn't Read
The idea was something we were working on since college and we were damn sure it would work. For it had no code, fintech, automation, etc buzz words associated with it. We didn't do any user interviews, no competitive analysis and did not get a designer on board. The product shaped decently well after spending another 1 year on it, but it was something that was in the middle like you get a B+ on your assignment. You haven't failed but you are also not getting into MIT with a B+.