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Hi! As your post seems to indicate, you're scared shitless right now and it seems like the entire world is coming to an end. Trust me, even if it really seems
by GuiA 13y ago
Hi!
As your post seems to indicate, you're scared shitless right now and it seems like the entire world is coming to an end. Trust me, even if it really seems that way, it's not.
For now, grit your teeth and go through the bad stuff. Tell your wife. Be honest with her. No matter what, she's your wife for a reason- she'll support you through all of this. If you neglected your relationship with her a bit because of the startup thing, then she comes first now. Then tell your investors. Tell your employees. Tell whoever else you need to tell. Be honest, genuine and straightforward. The next few weeks are going to suck big time, but you'll get through them.
Once the big stuff is behind you, take a few weeks to breathe, if possible financially. You're coming to the end of a long, arduous journey, and that's always something hard to process. Try to find joy in the little things that you didn't have the time for during your founder mode. Have brunch with your wife. Go take a walk alone in the forest. Read a book. Take time to recover.
You will find another job. You don't realize this right now, but having run a startup for 2 years gives you more skills and experience than others have developed in a lifetime. If you have to take a job right away because of financial hardships, take something low stress (consulting/freelance could be a good choice, for the flexibility, although it can be hard to get started with no leads). Now is probably a bad time to do another startup. Also, you probably want to use this as a lesson to remember that you should always have ~6 months of expenditures in the bank that you NEVER touch precisely for situations like this one.
Don't worry about the investors. It's part of their job - you're not the first startup that they funded that failed, and you're not the last either. Be professional with them- if you want to do a startup again in the future they will remember your honesty and ethics more than the fact that your startup failed.
You ran a startup for 2 years. Solely by doing that, you've gone further on the path of entrepreneurship than 99.999% of people who call themselves "entrepreneurs" have. Take time to grieve, but also take time to see all that you have accomplished.
If you still feel depressed after a month or two, go talk to a professional therapist/psychiatrist. Sometimes we need a little external help.
It's going to be OK. :)
- jlebron2 13y agoI haven't started a company (yet!) and can't imagine what the OP is going through but reading this made me feel better :). I will definitely save this for future reference for when I do start (and more than likely fail) my first company. Thanks and cheers!
- keithpeter 13y agoThe bit about 6 months money in the bank sounds good to me (never ran a startup but been made redundant &c)
- oscargrouch 13y agoi thinks this piece of advice its cool in almost all of it.. but there are some pieces of it that i think sounds a little overoptimistic: > she's your wife for a reason- she'll support you through all of this Maybe not.. a lot of marriages brake because of financial bankrupcy.. but this guy will have to face it anyway.. it will depend of how much the materialistic/spiritual type she is and how much she love him.. this will be definetly a good proof of love from her, if she stands up with him... (but these sort of people are rare) > they(investors) will remember your honesty and ethics more than the fact that your startup failed I think it will be harder for him to raise funds later if he try to do it again some other time.. but nothing that will do things impossible for him.. also there are other ways (you know, companies existed before VC funding :)) .. but maybe this make his charisma and charm to raise even more money.. like superpowers that come from a mature characther This guy need to face the truth no matter how hard its gonna be.. and i dont think trying to make things look better will help him much.. there are times life sucks, and this can be a proof of the strenght or weakness of our character.. Let me make it clear that you advices are very nice.. i was just spoting some overoptimism in some areas and i dont think in that particular case, this would help.. its reality time for him now.. time to take the red pill .. the blue pill will only make things worse.. Again, everything can serve for good in our experiences.. even, and specially the ones that are bad.. it needs a superior point of view to spot the good things from everything and make ourselves better.. but we have a lot of examples out there of people that just can't see the things that way.. and never "come back".. its important to know this and never be one of them.. Its the end of a war or its just the end of a battle in life?
- Xcelerate 13y ago> Maybe not.. a lot of marriages brake because of financial bankrupcy.. but this guy will have to face it anyway.. it will depend of how much the materialistic/spiritual type she is and how much she love him.. this will be definetly a good proof of love from her, if she stands up with him... (but these sort of people are rare) Rare, but hopefully that's the case with her. A good person stands by their partner's side in times of trouble.