Ask HN: My startup is running out of fund. What should I do?

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Re: Ask HN: My startup is running out of fund. What should I do?

#41

Post by Melting_Harps » Tue, Nov 01, 2022, 10:21 AM UTC

GianFabien wrote: post #35

whentojoin wrote: post #20

Earlier quoted context omitted.

Why would you enter a market that requires that much in run-way and think that this is a viable option let alone that could succeed given the current incumbents? >> To answer your question, we enter this industry as completely new-comer. If we know what we know now, we agreed we should have never started this business in the first place. Also we have 0 founder-market fit, and that should be a big reason why no VC fun…

>> "If we know what we know now, we agreed we should have never started this business in the first place." You have answered your own question. should never have started this business .

> You have answered your own question. should never have started this business.

Listen, I'm sure it sounded like I was attacking you, but that isn't what I wanted to do as I know what I feels like and that never helps.

I'm sure you have a lot on your plate right now, and I wanted to just say that these things happen in startup-land, it's not the exception it's the norm you aren't a bad person for that.

Internalize and learn from this, but don't let it get you too down after that. Just be honest with yourself and your team and go from there.

Starting over is like getting over an intense relationship, in the moment it seems insurmountable, but with time it gets easier to want to try again.

Best of luck!

Re: Ask HN: My startup is running out of fund. What should I do?

#42

Post by blacksoil » Thu, Nov 10, 2022, 11:43 PM UTC

whentojoin wrote: post #14

tsol wrote: post #12

> My cofounder is telling me if I don't keep working on this startup (using the money out of my cofounder & me's pocket after the company die) You should establish what that would actually look like. How long would you guys realistically run like that? What would you need to accomplish to make it work? How much time would you have to accomplish your goal?

For me I want to move on something new. There is no point on saving something would almost certainly not work. But I am feeling guilty. He left his job to join me, and we are cofounder for a couple of years. He told me I am wasting his time if I don't keep working with him. That makes me feel very bad.

To keep working without clearly defined goals and deadline is a waste of time as well. There needs to be a clear KPI as to what product features should be completed by when, as well sales plan and concrete sales KPI to hit. After that, use the money and resources at hands to give them a shot. After the deadline is reached, sit down together, evaluate, and decide what's next. The expectation has to be very clear (I.e to make X amount of profit within Y months) and it should be evaluated very objectively to avoid any hard feelings

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