Startups · Entrepreneur

How does it feel like when your startup fails?

sofia tabassum Attended Sarhad University of Science and Information Technology (NTI)

September 7th, 2016

Keeping in mind that 9 out of 10 startups fail I wonder how it feels when you realize that is time to move on and what is the best way to do it with your head up high.
You’re ready to turn your idea into a business. But how do you protect it from competitors and copycats? In this course, an experienced patent attorney explains the different types of legal protections to help you determine which is best for your business.

Janis Machala Senior business executive and entrepreneur

September 7th, 2016

Communication, lessons learned, failure is not failure it is learning.

Kevin Taylor I'll turn your startup or consultancy into a thriving, profitable, acquirable business.

September 8th, 2016

If you have investors, you'll feel bad.
If you have employees, you'll feel worse.
If you have neither, you'll feel relief.

Peter Crane Managing Director at Remington Capital

September 7th, 2016

It's just like a breakup. It can be quite painful but stay focused and positive and always keep moving towards your next goal. Most successful founders have one (or several) failures under their belts. Learn from your mistakes but don't dwell on them.

Mike Moyer

September 8th, 2016

It feels somewhere between a punch in the gut and an enormous relief! 

Always be asking yourself this question: Knowing what I know now, would I start this company today? If the answer is "no" you are probably headed towards failure....

-Mike
Author of Slicing Pie

Shel Horowitz I help organizations thrive by building social transformation into your products, your services, and your marketing

September 8th, 2016

Maybe a better question is how do you define success. My first full year in business (1982), I only made four figures. But it was enough to know the concept was viable and I haven't had an outside job since. The business has evolved into something very different (and better-paying), but that's how it started.

Rod Abbamonte Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute

September 8th, 2016

Opportunity to learn, prove resilience and capacity to survive. 

Michael Hartzell Entrepreneur, Addicted to "Yes" - When Everyone Wins

September 7th, 2016

How it feels when you realize that is time to move on

It can feel like a piece of you is being left behind - even when the obvious choice is to move on.  It might feel like a relief as the burden and risk is removed.

The feeling is not very relevant to what needs to happen next - which is move forward.

And what is the best way to do it with your head up high.

Do it. Hold your head high.It is a choice.  

How do you make it easier?  

The future has new discoveries. The people you meet in the future will be important to the next success. (Make introductions)

Write the story down. The mission. What happened. What was the critical point? What will happen next?  

Serve others. Volunteer to help another get something done. You will inspire and as a result, be inspired.

Listen to "The Dip" audiobook by Seth Godin on Audible.   It will have the answers you hope for.
Or... "Poke the Box" - another outstanding audiobook relevant to your question.

Jonathan Smarjesse CEO at Jonathan Louis Smarjesse

September 7th, 2016

Bad

Lucia Guh-Siesel CEO & Founder, Bandalou

September 7th, 2016

I'm sorry, what is the point of this question??

Is it rhetorical?  Are you asking how to fail gracefully?  As any entrepreneur knows, it's painful.  But Janis is spot on - you learn, you change, you make it work no matter what.

Candidly -- questions like this don't add to the FD community...but stories of failure do because we can all learn from the mistakes of those that came before us.

Nizamudheen Valliyattu Co-Founder & Digital Marketing Specialist at SocialTiger.in

September 7th, 2016

Another big lesson