Embracing Failure: How Many Times Has Your Startup Journey Hit a Roadblock?
Vlad Zivkovic
2 replies
Hey fellow founders! š
I'm excited to share a topic that's close to my heart and often overlooked in the startup world: the inevitable failures we face along our entrepreneurial journeys. We're always celebrating success stories, but let's have an honest conversation about the struggles and setbacks that have shaped our growth as entrepreneurs.
š How many times have you failed with a startup?
I'll start by sharing my own story. I've failed with two startups so far, and each experience has been a valuable lesson that helped me become a better founder. First time I pretty much didn't know anything about startup world and I believed I will be sitting with Bezos in no time. Second time I raised way too much money which I didn't know how to manage and eventually my burn rate burned a big hole in the ground where I buried my second startup.
Each failure taught me something new, and I've embraced them as stepping stones to success.
Share your stories of failure and what you've learned from them. Failure is not the end but rather a new beginning.
Share the number of times you've failed with a startup.
Reflecting on the lessons you've learned from those failures.
Offering advice or encouragement to fellow founders.
š” Remember, every failure is an opportunity to learn, adapt, and come back stronger. Let's embrace our past mistakes and use them as fuel for our future success!
Replies
Brandon Scott@skillprepare
Hey Vladimir!
Sorry to hear about your two startup failures. I've had a few myself:
1st Startup Failure: A Kickstarter way back in 2012. This was my first startup and my baby. Haha I actually laughed at your first startup because I had the same mentality. Just launch it and we are the next Apple. Farrr from the truth haha.
The sad thing about startup #1 was that it wasn't a market failure, an internal one. We raised 50K on Kickstarter in a few days. But then, cofounder issues started to arise, and accountability failed to exist. We made some big mistakes and ended up cancelling the project.
2nd Startup Fast forward few years later. We had a production ready prototype, just didn't have funds or anyone to believe in us to get our first inventory run made. We tried bootstrapping to the last minute but we just couldn't afford it.
Startup 2.5 - So I tried again at Startup #1 a few years back. Older, wiser, and partnering with the right people. Market has changed and hardware performance has too. Our shiny useful product in 2012 would need major upgrades for todays acceptance. So a quick half fail on Kickstarter again.
I am now on Startup #3 and to be honest I am glad to be in this one. Although I thought I loved the other startups, I love this one the most. I feel its a combination of all my skills, lessons, & experience over the years. I thoroughly enjoy working on it every day. Even though the past was really hard, in a way it was a blessing in disguise, as it gave me the strength, knowledge & tools towards startup 3.
and hey, 3rd times the charm right?
Best of luck on your startup endeavors!
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@skillprepare Oh yes, I can see the similar points of failure, but I always say there is no failures, there is only mistakes that we learn from!