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

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181–190 of 229 posts

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

#181
Be more optimistic, it’s easy to be negative. This is what I took from being a startup employee when I was an aspiring founder.

I went from a science undergrad (with some coding for simulations of experiments) to SWE at a startup where everyone knew each other. It was a very convivial and trusting atmosphere. Eventually I made charts for board meetings, and dug into the financial data. I was so surprised! So much churn, so few customers, so few sales, so much support and work per customer, all at a 3yo startup. I knew the last round of funding money was drying up, and I thought, man, this thing is gunna end. But money came through, many rounds more. At every time I talked with the cofounders and anyone like investors or board members at the company, wow, optimism.

My lesson was that I was too skeptical from the natural sciences. Businesses are about people, and people can be convinced, some immediately, some over time, or since there are a lot of people and a lot of money in the world, you might find more receptive people and money later. So it is about putting on the face and convincing whoever with confidence (if that is what you’re into).

So cheer up dude, you made it his far, you can keep going. I moved away from my company to my own hustle, but man, that company is a boomin. I won’t say if it’s profitable, but it’s a great place to work, everyone is happy, somehow investors still seem super happy, more people are being hired, and there is some customer testimony that is very positive.

I think there is a difference between a startup and a business, made possible by the swell of VCs, and this means you can chase your dream longer, as long as you find the right investors.

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

#182
post #106

Hi, I had a startup fail after we (I had 1 co-founder) invested ~4 years into it. Some thoughts: A startup failing is not a rational thing. At this time emotions (regret, fear, stress, depression) take over, it's a tough time to handle. If it's tough for you, take comfort in knowing that it's tough for everyone. When I was going through this, I couldn't handle the stress, so it spilled over into my personal life, and…

As someone who worked as a CTO at what I like to call a "zombie" startup I agree with the poster above me, and it hurts just to recollect the history. You can keep this shit up indefinitely. We're in a weird environment where, with enough endurance, a startup, even one with a miserable high touch sales cycle and poor business model, can live month to month like some sort of crime family looking for the next big score…

That – hit too close to home.

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

#183
post #106

Hi, I had a startup fail after we (I had 1 co-founder) invested ~4 years into it. Some thoughts: A startup failing is not a rational thing. At this time emotions (regret, fear, stress, depression) take over, it's a tough time to handle. If it's tough for you, take comfort in knowing that it's tough for everyone. When I was going through this, I couldn't handle the stress, so it spilled over into my personal life, and…

As someone who worked as a CTO at what I like to call a "zombie" startup I agree with the poster above me, and it hurts just to recollect the history. You can keep this shit up indefinitely. We're in a weird environment where, with enough endurance, a startup, even one with a miserable high touch sales cycle and poor business model, can live month to month like some sort of crime family looking for the next big score…

Firstly, that was one of the most well written comments I’ve read here.

Secondly, I have seen part of this scenario play out exactly as you stated (hire contractor, fail to deliver, delute investment, repeat); it’s as as if there’s a program to be optionally run by stumbling founders.

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

#184
post #180

I have about 10 years working in the tech side of large B2B events, so comments are based on that. It’s fine to start a business in an industry you’re not crazy about but most people who make a success this way know there’s a ready and waiting market to earn money in with an existing product. People need plumbers and roofs need tiling. Most “start-ups” should be founded on the principle of “We’ve identified a problem…

Re: networking I don’t know how many networking apps (including hardware devices) I’ve seen over the years. They’re at best a novelty and more commonly unwelcome. I suspect the friction with just scribbling down an email, exchanging a business card, or later connecting on LinkedIn is superior to people using the tech to mass spam people.

That's definitely the case for me. Digging in my pocket, pulling out my phone, searching around for the app while trying to continue to ignore SMS notifications that I'd ignored during our conversation, then getting an error that the app can't connect to the Internet (because the conference Wifi is terrible)... that is so much more of a hassle than reaching into my pocket and exchanging business cards.

For a big event, sorting through the cards after the fact is a little bit of a hassle, but I get to do that on my own time, not when there's a (often rushed) social encounter going on.

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

#185

Earlier quoted context omitted.

Your attitude isn’t helpful or welcome here. We all struggle with complex decisions from time to time; we all make mistakes, and most of us are far less perfect than we’d perhaps like to admit. Seeking advice from a peer group is a good step towards learning how to avoid the mistakes in the future. “You’re an idiot and so is everyone you know” is not advice.

It is advice. It means "You've had your shot, you failed, now let someone else have a go." Some people make it sound like raising investment is as trivial as buying a burger from Macdonald's. I haven't been to America yet but it sounds hard to believe.

Please stop trolling.

https://news.ycombinator.com/newsguidelines.html

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

#186
post #180

Earlier quoted context omitted.

Re: networking I don’t know how many networking apps (including hardware devices) I’ve seen over the years. They’re at best a novelty and more commonly unwelcome. I suspect the friction with just scribbling down an email, exchanging a business card, or later connecting on LinkedIn is superior to people using the tech to mass spam people.

That's definitely the case for me. Digging in my pocket, pulling out my phone, searching around for the app while trying to continue to ignore SMS notifications that I'd ignored during our conversation, then getting an error that the app can't connect to the Internet (because the conference Wifi is terrible)... that is so much more of a hassle than reaching into my pocket and exchanging business cards. For a big even…

Exactly and there are apps to process business cards though I don’t use them enough to bother most of the time and only need one or two pieces of information—and LinkedIn for their faults is mostly my Rolodex anyway.

And, as I say, I strongly suspect I don’t want something that is bump wristbands or something convenient or, worse, doesn’t require my permission at all to add me to some list.

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

#187
post #180

I have about 10 years working in the tech side of large B2B events, so comments are based on that. It’s fine to start a business in an industry you’re not crazy about but most people who make a success this way know there’s a ready and waiting market to earn money in with an existing product. People need plumbers and roofs need tiling. Most “start-ups” should be founded on the principle of “We’ve identified a problem…

Re: networking I don’t know how many networking apps (including hardware devices) I’ve seen over the years. They’re at best a novelty and more commonly unwelcome. I suspect the friction with just scribbling down an email, exchanging a business card, or later connecting on LinkedIn is superior to people using the tech to mass spam people.

Then offer attendees 50 business cards waiting for them at the sign in desk.

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

#188
post #106

Hi, I had a startup fail after we (I had 1 co-founder) invested ~4 years into it. Some thoughts: A startup failing is not a rational thing. At this time emotions (regret, fear, stress, depression) take over, it's a tough time to handle. If it's tough for you, take comfort in knowing that it's tough for everyone. When I was going through this, I couldn't handle the stress, so it spilled over into my personal life, and…

As someone who worked as a CTO at what I like to call a "zombie" startup I agree with the poster above me, and it hurts just to recollect the history. You can keep this shit up indefinitely. We're in a weird environment where, with enough endurance, a startup, even one with a miserable high touch sales cycle and poor business model, can live month to month like some sort of crime family looking for the next big score…

True, i've been doing this shit several times in my life now, from all ends - starting with being 'offshore labor' and ending with being a CTO - all it resonates well with my feelings.

Worst part of it is that, after many years doing this, you get cynical. You starts to feel like every company is a bunch of fools burning money of another bunch of even bigger fools, and let it happen as long as money ends in my pocket.

Right now i don't think i can even think of doing coding as some 'real' thing, which is, done with a real intention of succeeding and bringing in revenue.

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

#189

I have worked in a startup which failed, pivoted and now is a billion dollar company. My main rule of thumb is that if your current problem statement is failing then become bigger, in the sense take up a problem that has even more market demand than the current problem and then add features to your existing solution to solve for the bigger problem. The chances of you landing a customer increases this way. You have ta…

Highlevel features I can think of From a seller perspective - contact management - emailing and reminders - text message nudges for customers - showing analytics of previous events - managing previous customers - feedback from previous customers

these tools already exist (and number probably in the hundreds)

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

#190
So my take on it is that your only job as a startup if you don't already have product/market fit is to find it. And then, if you have it, you focus on growing.

Then, quite simply, your options are a) Find product/market or b) Quit.

To decide between a) or b), try to think how close you are to getting it. Do you have a few users that love your product but the pricing is wrong? Did you find something interesting in the market that you think you can compete on but didn't execute well-enough?

I would say if you lost your passion and don't think you've got something interesting enough to get a few users to love your product, then it's time to quit and (maybe) start over on a fresh idea. If on the other side you're still passionate about the space and think you're onto something, then keep trying.

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