Common Sense Advice for When You Fail

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From Chris Yeh

I ran across Startups Anonymous, and a post entitled, “We’re Shutting Down and I’m Scared” caught my eye:NibzNotes21
http://bit.ly/1gc2r95 

For better or worse, I’ve either been through or participated in shutting many companies down, so I thought it would be fun and potentially useful to provide my blow-by-blow advice:

After over two years, backing from a well-known accelerator, nearly one million in funding and a decent amount of traction, we’re shutting down.
> Over half of all *VC* funded startups go belly up, so you’re definitely not alone. 

I’m scared. I’m also sad, disappointed, ashamed, embarrassed & deflated. But mostly just scared.

> That’s natural. The way to get past the fear is to take action. 

Nobody but my cofounder and I are aware we’re shutting down yet. It’s been a few days since we made the decision and I haven’t even gotten up the courage to tell my family.

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One comment

  1. 1

    Even more annoying than the hipsters that are walking away from their pipe dreams after they blew all the VC money are the VCs themselfes whose stupid behavior and outrageous life style is financed with pension fund money from unassuming ordinary people. The entire valley is running on it. This has to stop.

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