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Ask HN: My startup has basically failed. What now?

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Re: Ask HN: My startup has basically failed. What now?

#31

Earlier quoted context omitted.

> Contact me for marketing I'm not OP, but how?

This is slightly off topic, but I have noticed that about half the time on HC when someone says contact me that they have no contact details in their profile.

I suspect that's because HN doesn't make it clear that your email isn't publicly visible on your profile.

Re: Ask HN: My startup has basically failed. What now?

#32

Earlier quoted context omitted.

>The answers are laying right in front of you but you seem deterred by doing the work ...i've been the sole full-time founder for 9 months. i have worked every single day of those 9 months (doing everything - sales, customer success, investor relations, product). i am not deterred by work - i am deterred by the prospect of burning money chasing a delusion. the users didn't adopt for the same reason every users of eve…

If it makes you feel any better it took me 11 years to make any money with my startup.

Why did it take you 11 years? This doesn’t sound like a startup, more like a monetized hobby.

Re: Ask HN: My startup has basically failed. What now?

#33

I'd give the somewhat cliched advice of whether you believe you will fail, or believe you can succeed... you are correct. If you do choose to go forward, the fact that you have failed so far is not relevant. You had pilots. They failed. You know why. Dig deeper into the causes of the failures. Fix them. Get feedback from the customers, and fix the product. Fix the operational issues. And try again. That is no differe…

Most times there are shades of the true answer spread across multiple HN comments. That isn’t true here. This (the comment I’m replying to) is the only realistic way of looking at it. You need raw grit. My brother hit his tendon with a hatchet an 8 hour hike from civilization deep in the Canadian wilderness. He hiked back. Every step hurt. Sometimes you just need to move forward step by painful step. If you don’t you will fail. Sometimes it’s ok to fail. Sometimes it’s not. If not, just keep moving forward.

Re: Ask HN: My startup has basically failed. What now?

#34
post #21

Jason Lemkin recommends giving it 24 months to start a B2B SaaS. B2B SaaS is a long road despite the big splashes sometimes seen like Slack or Intercom. https://www.saastr.com/if-youre-going-to-do-a-saas-start-up-... Also watch the CEO of Segment talk about their journey to product market fit. https://www.youtube.com/watch?v=_6pl5GG8RQ4

Slack was developed internally for years at Tiny Speck before being released.

So they aren't like most startups who generally start their 24 month period with a lengthy period of product development.

Re: Ask HN: My startup has basically failed. What now?

#35
I'm on year 2 of my startup, and around month 9, I felt similar to you, so I can relate. Real traction began around month 20, and its still modest. Here are a couple of issues I see:

1. 9 months isn't long enough, as others have said. There are exceptions, but those are the exceptions. I can't think of any startup in recent history truly reaching product/market fit within its first couple of years. Facebook, I guess. It's not abnormal for it to not happen years out. pmarca's material on it suggests this, as well.

2. You not only raised money very early, but you raised it from non-professional investors, as far as I can tell, so you're un-nerved about losing their money, while they want to push you to turn their thousands into millions. Raising more money at this point is only going to exacerbate everything you're going through.

3. High-touch sales are absolutely the norm in B2B. Your efforts are a good thing. If you take a lot of the typical YC advice at face value, you'll be lead to believe that you should be measuring your conversions, etc, and having a nice hockey-stick shaped growth curve. This is absolutely not going to be the case for a B2B company on month 9, unless they've struck platinum. There was a startup school segment where Kevin Hale (IIRC) advised the founders not to measure sales, since they'd likely be in the single digits for the first year and not yield anything meaningful. Instead, you should be measuring your own outreach. Any other metric is going to be close enough to zero to be meaningless at this stage. Your product is going to be crappy, your presentations and pitches are going to be awkward and sloppy.

At the end of the day, you have the best idea of your chances for survival. With what you've mentioned so far, there's promise, but it'll be up to you to make it happen. Even if you stick it out for a year or two longer, the odds, of course, are still against you.

Re: Ask HN: My startup has basically failed. What now?

#36
I'd say that sometimes the raw economics works against you and it can be very difficult to change that. As an example take micro-payments, I'm sure hundreds of startups have tried to make it work but the economics don't stack up in a way that works. The problem you are working to solve may be unsolved for a reason. Your investors may be thinking very naively; on the face of it some problems seem easy to solve but actually are almost impossible.

On top of that it sounds like you're pretty smart and business focused but you aren't hugely passionate about the problem you're solving.

I would probably advise you to go away and find a different problem to solve; one that you're more passionate about and one where the economic model stacks up. If you've got a good team of people then you can probably leverage that to become successful in a new space.

Re: Ask HN: My startup has basically failed. What now?

#37
1. I think giving up at this stage is the the easiest thing to do - and I think it common due to the uncertainty about the future

2. Check that you can imagine yourself spending next few years doing what you are doing, just even more harder

3. If so, double down, as suggested above ask why, why and why. If needed, pivot.

Re: Ask HN: My startup has basically failed. What now?

#38
>> the main investors/advisors (from the 220k friends/family/fools round) pretty much feel like it's time to pull the plug

Given your statement above, there's really no question beyond this point. You promised riches and success to family and friends and it is not currently looking like you will do that, and their message is "stop please before its all gone". Do so.

If you still have money and it is from family and friends then stop right now - on Monday (tomorrow) and give back all that you can. If you burn the rest of that cash then for the rest of your life those relationships will exist for you only in the light of that money. It would be different if the money you had was from an angel or VC who are taking calculated risks.

Your family and friends relationships are worth infinitely more than any startup.

You should instantly kill all business costs, go get a job, and continue marketing what you have built on the side.

Re: Ask HN: My startup has basically failed. What now?

#39
Events and tradeshows are in a category of their own, but anything that goes wrong in front of an audience comes with a large emotional burden. In events, there is never such a thing as perfect, but learning to execute well means less surprises. If you're burnt by recent catastrophes, know that there is also an amazing feeling that comes when things do go right. If you like/trust the people you are doing it with then stick with it until you can get a win, then decide if you want to keep at it.
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