How to Survive Startup Failure
The 5-step approach to getting something good out of a bad situation
And so the unthinkable happened, your startup failed and now you feel like a failure. It’s easy to feel like that when you invested months or even years into living and breathing your startup, while all around you are widely publicized stories of big success.
I invested one year into a startup that led to debt, burnout, and failure, so I know how devastating that can be. But debt, burnout, and failure weren’t all I was left with.
Only it was hard to see anything good coming out of it when I had to decide whether to kill it or not to kill it.
It was not a hard choice, though, for I had no choice. I ran out of money (a small loan, to be more precise) and couldn’t find an investor or other available funding in time to save it. This was despite receiving two awards for the project and making sales as soon as I launched the landing page.
What I didn’t know back then when I despaired over my failure was that there is no such thing as a failed startup. What we call a ‘failed startup’ should be known as a ‘major lesson.’ The lesson you wouldn’t be able to learn and master any other way but by trying and doing it.
