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The Truth about a Failing Startup

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Re: The Truth about a Failing Startup

#161
post #88

Hey, fellow failed entrepreneur here. My startup failed about 6-9 months ago. It was a very difficult time, our business partners went back on their promises and with that 3+ years of my life went down the drain. It was a terrible couple of months, lots of lost sleep, high blood pressure, I'm still dealing with it. I was unemployed for a couple of months, then finally took a job at a great company, where I feel great…

>Don't lie to your parents. This. During a bad period, I moved in to live with my family for a couple of weeks. It helps to eat and talk together, and if you had a happy childhood, you'll feel safe and refreshed.

>This.

Samefag detected.

Re: The Truth about a Failing Startup

#162
In Islam, the most fundamental principle is the worthlessness of this life. It is simply a bridge to the afterlife, and it's the afterlife that's the true reality, this is simply an illusion. This does not mean you should not live it to your fullest, but accept that it will never give you the peace and satisfaction you need. You're poor? You grieve. You're rich? Then you grieve for your family members and friends, you grieve for your inevitable death and the death of your loved ones. This is simply what life is. We try to mask it, but it is what it is.

My wife lost a brother (40's) and a sister (20's) to cancer. Her parents watched their children die in front of them. What amount of money could make that easy? My brother's got a tumor in his ankle and we're eagerly awaiting the biopsy results. Just hoping for the best.

I should note again that Islam does not tell you not to be happy or feel happy. It doesn't tell you not to try to achieve or become. It doesn't tell you not to help. But it tells you never to forget the nature of this life. People who are trying to make sense of life simply fail to know it is as it is by design. It was meant to be unjust and unfair, and overall, incomplete.

Finally, a few verses in the Quran that are quite interesting (the plural is the plural of majesty):

"Those who do not hope to meet Us and are content and satisfied with this life and are unaware of Our verses. Those are the ones who are destined for hellfire because of what they do"

"He who does good, being male or female, whilst being a believer. We will grant them a good life and will give them their reward from the best deeds they used to do"

"We have created man to live in pain. Does he think no one is able to defeat him? He says, I have squandered money in abundance. Does he think no one has seen him? Did we not grant him eyes, a tongue and lips? And have given him the two choices (obedience and rebellion)?"

context: God speaking to Adam and Satan after being banished from paradise "He said, get out, all of you, from it. You are from now on enemies of one another. Whenever my guidance comes to you (on Earth), he who follows my guidance will not go astray nor live in hardship. But he who turns away from my revelation, he will live a life of misery, and on the day of judgment, he will be left blind. He will say: My Lord, why have you made me blind when I once could see? He says, so have my verses come to you and you forgot them, and likewise today you're forgotten"

Finally, anyone who would like to bash Islam or religion. Don't reply. I don't care for your opinion. These are simply my two cents. Or as the Quran puts it "he who wants, let him believe. And he who wants, let him disbelieve". Wondering if I can sneak links in here?

http://www.youtube.com/watch?v=C8Unyg83194 http://www.nation.com.pk/pakistan-news-newspaper-daily-engli...

Re: The Truth about a Failing Startup

#163

Earlier quoted context omitted.

"The buddhists are right, the only constant in life is change" Not totally true. I want to point out that there's a huge gap between what Buddha saw and taught and what is said by the teachings in modern Buddhism. Gautama Buddha went to people basically every single day for 45 years and tried to awaken them. He absolutely did not teach people that it's possible to eliminate suffering while alive, and he never taught…

I'm not sure exactly what the correction that you're supposed to be issuing is. He cited the buddhists, not Buddha, and you say right away that "there's a huge gap between what Buddha saw and taught and what is said by the teachings in modern Buddhism." What is your objection, exactly?

That modern Buddhists don't have the correct teaching - so they are not right as stated. We shouldn't say that truth can change (as implied by the statement everything changes except change) as when truth changes it's not truth anymore.

Re: The Truth about a Failing Startup

#164

My company failed (unexpectedly) in 2008. I had signed piercing agreements on a large contract, and on some financing before the failure, so I ended up on the hook for a little over $500,000. The risk/reward payoff looked much better the odds were in favor of reward. Here's my progress to date: http://i.imgur.com/IGQ3rz6.png It's an anchor. It's killing my dreams. I worry that the stress will literally kill me.

Good luck! You'll get there.

Re: The Truth about a Failing Startup

#166
post #164

My company failed (unexpectedly) in 2008. I had signed piercing agreements on a large contract, and on some financing before the failure, so I ended up on the hook for a little over $500,000. The risk/reward payoff looked much better the odds were in favor of reward. Here's my progress to date: http://i.imgur.com/IGQ3rz6.png It's an anchor. It's killing my dreams. I worry that the stress will literally kill me.

Good luck! You'll get there.

Thank you. It's a grind, and it's likely to go down as my life's biggest mistake, but it will probably end.

Re: The Truth about a Failing Startup

#167
post #88

Hey, fellow failed entrepreneur here. My startup failed about 6-9 months ago. It was a very difficult time, our business partners went back on their promises and with that 3+ years of my life went down the drain. It was a terrible couple of months, lots of lost sleep, high blood pressure, I'm still dealing with it. I was unemployed for a couple of months, then finally took a job at a great company, where I feel great…

>Don't lie to your parents. This. During a bad period, I moved in to live with my family for a couple of weeks. It helps to eat and talk together, and if you had a happy childhood, you'll feel safe and refreshed.

I agree. In late 2009 when my startup tanked and my SO left me I was in a really bad place. Having a large family (parents, but also siblings) really helped me stay sane.

Re: The Truth about a Failing Startup

#168
post #16
post #2

This 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 i…

ugh Maybe...maybe not. Sometimes capitalization is what your business really needs. Sometimes it isn't. I can provide a whole list of "web businesses" that bootstrapped to profitability, but I can come up with an equally impressive list of companies took really significant capital. I can certainly find businesses that would have not succeeded without the capital to sustain them through their early years (I experience…

Cool you could provide a list of exceptions to the rule. Aquisitions, IPO, Unsustainable Co's., and companies that fund themselves through continuous investments are exceptions to the rule.

I don't get why web business people want to change the way business had been done for all of history.

You make a product, you sell it, you use that money to grow. Don't dilute that process, and if any key part of that process is being omitted you should be very skeptical.

Re: The Truth about a Failing Startup

#169
post #20
post #2

This 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 i…

If you restrict yourself to only doing things the "proper way", then you are going to be competing with people doing it other ways, including what you consider to not be the proper way - taking investment to go for hyper growth before profitability. Can your bootstrap startup compete with a startup that has outside funds to hire more than you, market more than you, release more often than you, and learn more than you…

Again your just exposing that you value the wrong things.

Who cares about growth? I don't. Not when it means I need to compromise my board, take on debt, ect.

I don't know how else I can get the point across but all you should care about is profitability.

And again those big deals are such a small percentage that you shouldn't even plan for that. Just make a profitable company.

I'd rather be profitable at a significantly smaller scale, because this isn't a sprint and in the end you actually have sustainability.

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