The Truth about a Failing Startup
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The Truth about a Failing Startup
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Re: The Truth about a Failing Startup
#2This is why I fundamentally don't like investments. This is why profitability is king. Not users, not revenues, nothing except profits! This is why self funding is so important.
In life there is a right way to do things and a wrong way. The 37 signals (bootstrap) model is the proper way to do web business. Taking other people's money is the wrong way.
To author: Dude, you probably care more than the investors. Make it into a good thing, raise awareness on why the investing model should be approached with trepidation and skepticism. Then move on.
Re: The Truth about a Failing Startup
#3really strong words. thanks for sharing this. keep your chin up, the investors knew the risks of angel investing / venture capital. be proud that your gave it your all.
if you didn't take this risk, you would always look back and wonder what if. Ik that's cliched to high hell but it's true
Re: The Truth about a Failing Startup
#4[deleted]
Re: The Truth about a Failing Startup
#5Things may not be as bad as they seem.
Don't worry about the investor's money - it's called venture capital for a reason.
You've probably learned a tremendous amount from the experience.
Think about what the next step for you is after this company. Sounds like you're a developer and can easily get a well-paying job. Sounds like there is still some money left and you can take some time and decompress from the experience.
This isn't doom. It's the first step of what you're doing next.
Re: The Truth about a Failing Startup
#6If you've set up your company correctly, you should be personally protected from liability if the company fails, right?
Assuming that's true, then perhaps you'll end up with a tarnished reputation, but your life isn't crumbling apart. It shouldn't be too difficult to find a more conventional job with a decent salary, especially if you've managed to create a product that people wanted to invest in.
Re: The Truth about a Failing Startup
#7Things may not be as bad as they seem. Don't worry about the investor's money - it's called venture capital for a reason. You've probably learned a tremendous amount from the experience. Think about what the next step for you is after this company. Sounds like you're a developer and can easily get a well-paying job. Sounds like there is still some money left and you can take some time and decompress from the experien…
Agreed. Part of the job of being an investor is to balance your portfolio, and losses are to be expected. Such a world doesn't exist where investments are risk free.
There are many entrepreneurs who have raised again from VCs even after they didn't make it from their first raise. As long as you tried your hardest, there isn't much else more you can do. Keep at it.
Re: The Truth about a Failing Startup
#8It can be hard to keep your head up in this situation, but, you should try. Just because this startup fails, don't let it effect you forever. Sure you have a right to be upset for now, but know that you have to move on.
In the way that you sold your idea to the investor (whether it was by way of having a product to show, or just fancy talking, or a combination of both), you will have to rise from the ashes and prepare to do it again.
You can, and probably should eventually frame this as experience, because thats exactly what it is. A lot of investors will look at this as a learning experience for you, if your able to keep yourself from being rattled out of the game.
The next time around, you will be able to look back on your experience, and hopefully make different choices that will help you stay at the edge of your seat.
Lastly, sometimes ideas just don't work, despite all your best efforts. Sometimes there is little you can do to change the course of history. Often, its a combination of both bad decisions, and being in the right place at the wrong time, or the wrong place at the right time.
Re: The Truth about a Failing Startup
#9Been there, done that. You know what? Failure is just an event. Its not you. You havent lost your "touch", because there wasnt one to lose from the start. You just got lucky. It didnt work out. Now, understand that being average is OK, and pretty awesome too. So you didnt hit it big, but you had an average run. You did not become Instagram, but you had average sales. You made average money and had average success. Again, average is awesome. You got further down the line than most other people have (me included).
So you failed. Dont obsess about it. Tell your family the company is not working. Dont try an be a hero. Be honest, they appreciate that more (fuck them if the dont). Entrepreneurs have to meet these weird social standards that are never within reach. You think Warren Buffett has ever getting a break? He gets shit every day from deals gone sour.
But keep your head up. Failure is not you. You are a person, and you did pretty good. Your investor lost the money the minute he decided to play investor. Doesnt have to do anything with you.
If you want to talk about it with someone who fails hard every month, just send me an email (on profile). I wont make this public.
Also, dont be ashamed. You got to the NBA, but you were not Michael Jordan. Who cares? I bet you played a good game, and got some good stories from it. Best wishes!
Re: The Truth about a Failing Startup
#10Been there, done that. You know what? Failure is just an event. Its not you. You havent lost your "touch", because there wasnt one to lose from the start. You just got lucky. It didnt work out. Now, understand that being average is OK, and pretty awesome too. So you didnt hit it big, but you had an average run. You did not become Instagram, but you had average sales. You made average money and had average success. Ag…
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