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The Truth about a Failing Startup

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Re: The Truth about a Failing Startup

#71

Been 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…

Dead post (curiously, the account is dead with no obvious cause; perhaps it was associated with accounts that were up to no good?)

zerocool1989 3 hours ago | link [dead]

I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed. -- Michael jordan

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Re: The Truth about a Failing Startup

#72
Startups, like any love, suffers from the lack of reality checks. One must keep the balance - too much reality checks - and you ruin the magic, too few - and you become disconnected from reality which lead to the pain of cognitive dissonance when eventually you face it.

So, delude yourselves responsibly.)

Re: The Truth about a Failing Startup

#73
post #63

Once your startup actually fails and is behind you, here's the surprise: You will feel an immense sense of freedom and lightness. It's pretty obvious why: a weight is about to be lifted from your shoulder. Where your path was a narrow funnel leading to one specific destination, you will now have the infinity of all possible and reachable paths ahead of you. You couldn't do anything but worry about the startup - now y…

Having just gone through this I concur 100%. Everything, and I mean everything, now seems just a little bit more achievable. The good things in life feel better, the bad things not as bad. I smile more, and am sleeping better.

A weight has lifted, and I'm slowly regaining energy - almost feel like I might one day have enough again to start on the journey of another startup.

Re: The Truth about a Failing Startup

#75
You cant let this failure stop you. Many of the worlds most successful people have failed many times before finally achieving success.

Nor can you let the fact that investors were involved get you down. Investment is about risk, not guarantees. Your investors knew, or should have known that.

Investment is speculating.

The only guarantee you owe them is that you did your best. If your best wasnt good enough this time, so fucking what?

You can only do your best today. Tomorrow's best is different, because you learned from today.

Dust yourself off, reach into your idea drawer, pick out the next one and start again. Maybe it works maybe it doesn't.

Some will, some won't, so what? On to the next. You learn from each attempt.

Re: The Truth about a Failing Startup

#77
post #66

The investors are adults. They made an educated decision, and as long as you acted in good faith you have upheld your end of the bargain. They took a risk, and my sense is that they are probably more aware of how the game is played than you do yourself. How many startups have they invested in? How many do you think have failed? This is probably incredibly difficult to internalize in the moment, but it's true. Remind…

My thoughts exactly! ...and Paul Graham's too as it seems, as it must be also the thoughts of every realistic investitor. This is a high bet and if that failed antrepreneur is sincere and acted in good faith, it still stays as a candidate future investment in my book (considering also the fact that he must have some experience after his first enterprise).

Re: The Truth about a Failing Startup

#78
"If I had failed using my own money, I could live with it. But having a team of investors believe in you, only to let them down is an incredibly difficult thing to deal with."

While I understand this completely, they also realize the same. Investments are always risky. Especially in the startup world. They know what can happen. Don't worry, it's just money, and money isn't the most important thing in life.

You haven't failed. You have learned something out from this experience. This isn't the end of the line. Last but not least, don't give up. Unless you want to work full time for an employer. Failure is something that everyone runs against in their life and it shouldn't stop you from doing other things.

For all you know, this time next year, you could be booming with some other amazing idea you get.

Re: The Truth about a Failing Startup

#79
If

  If you can keep your head when all about you
  Are losing theirs and blaming it on you;
  If you can trust yourself when all men doubt you,
  But make allowance for their doubting too:
  If you can wait and not be tired by waiting,
  Or, being lied about, don't deal in lies,
  Or being hated don't give way to hating,
  And yet don't look too good, nor talk too wise;

  If you can dream---and not make dreams your master;
  If you can think---and not make thoughts your aim,
  If you can meet with Triumph and Disaster
  And treat those two impostors just the same:.
  If you can bear to hear the truth you've spoken
  Twisted by knaves to make a trap for fools,
  Or watch the things you gave your life to, broken,
  And stoop and build'em up with worn-out tools;

  If you can make one heap of all your winnings
  And risk it on one turn of pitch-and-toss,
  And lose, and start again at your beginnings,
  And never breathe a word about your loss:
  If you can force your heart and nerve and sinew
  To serve your turn long after they are gone,
  And so hold on when there is nothing in you
  Except the Will which says to them: "Hold on!"

  If you can talk with crowds and keep your virtue,
  Or walk with Kings---nor lose the common touch,
  If neither foes nor loving friends can hurt you,
  If all men count with you, but none too much:
  If you can fill the unforgiving minute
  With sixty seconds' worth of distance run,
  Yours is the Earth and everything that's in it,
  And---which is more---you'll be a Man, my son!
Rudyard Kipling

Re: The Truth about a Failing Startup

#80
Isn't being on the brink of bankruptcy, staring death in the eye and beating the odds what running a startup is all about (at least initially)?

Reading "The money will run out within a couple of months, and the debts won’t be able to be paid", I couldn't help but think: "wait, you have a couple of months?". People have gone by on less.

Maybe failing to innovate for a few years has doomed your company to fail. Then again, maybe not. The party's only over when the lights go out :)

I know it's cheesy to quote PG on HN, but what the hell: "Startups rarely die in mid keystroke. So keep typing!" – http://www.paulgraham.com/die.html

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