What are your next steps after a startup fails?

After experiencing a startup failure, my personal approach is to view it as a valuable learning opportunity. It's crucial to reflect on what went wrong and why. In my case, when a content platform startup I was involved in didn't gain traction, we analyzed user feedback and market trends. The next step involves leveraging the lessons learned. I've found that many successful entrepreneurs have faced setbacks before achieving success. Using the knowledge gained, I pivoted to a new venture that addressed a different market need, and this ultimately led to a more successful outcome. So, my advice is to stay resilient, adapt, and consider each failure as a stepping stone to future success.

When your startup journey hits a roadblock, it's crucial to wrap things up effectively. Here's how: 👉🏻 𝗡𝗼𝘁𝗶𝗳𝘆 𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿𝘀: Immediately inform investors, employees, and customers. Transparency builds trust and can open future opportunities. It's a small world, especially in startup ecosystems! 👉🏻 𝗦𝗲𝘁𝘁𝗹𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗢𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀: Prioritize paying off debts and outstanding invoices. This step is vital to maintain a good reputation and avoid legal complications. 👉🏻 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗥𝗲𝗳𝗹𝗲𝗰𝘁: Capture lessons learned. This isn’t just about acknowledging failure but preparing for your next venture with enhanced wisdom.

Una de las cosas que más aprendizajes me dejó como founder y experto en finanzas, es justamente fallar en un plan de expansión, sin recursos suficientes para lograr pasar la curva de aprendizaje propia de cualquier nuevo entorno. Para mis nuevos retos, tendría en cuenta un fondo de reserva por si la cosa no va bien. Esto no solo es sano para el negocio y para darle un cierra a algo que no salió bien, sino también para la salud mental propia.

Closing a startup can be a difficult decision, but it's important to handle it with professionalism and respect for all stakeholders. Here's a breakdown of key steps to follow: • Transparent Communication • Fulfilling Commitments • Account Closure • Debt Settlement • Tax Compliance • Asset Disposition • Legal Closure • Employee Support • Detailed Documentation By following these steps, you can ensure a professional and respectful closure of your startup, minimizing negative impacts on stakeholders and preserving your reputation in the business community.

After a startup fails, it's essential to perform a detailed analysis to identify the root cause of the failure. This should involve reviewing different business areas, such as operations, marketing, product development, technology, and sales. By examining each department, you can pinpoint where the shortcomings occurred. This comprehensive evaluation helps in understanding what needs to be corrected, ensuring that similar issues are not encountered in future ventures. The aim is to learn from these mistakes for better decision-making and strategy development in subsequent endeavors.

It's a tough blow, but the key is turning that setback into a setup for future success. Here’s how: 👉🏻 𝗘𝗺𝗯𝗿𝗮𝗰𝗲 𝘁𝗵𝗲 𝗣𝗼𝘀𝘁-𝗠𝗼𝗿𝘁𝗲𝗺: Dive deep into what went wrong. Was it the market fit, financial management, or something else? Honest reflection paves the way for growth. 👉🏻 𝗚𝗮𝘁𝗵𝗲𝗿 𝗙𝗲𝗲𝗱𝗯𝗮𝗰𝗸: Talk to customers, employees, and investors. Their insights can reveal blind spots you missed. Remember, it's not personal; it's educational. 👉🏻 𝗦𝗽𝗼𝘁 𝗣𝗮𝘁𝘁𝗲𝗿𝗻𝘀: Look beyond this single failure. Are there recurring issues in your approach to business? Identifying these can be crucial for avoiding similar pitfalls in your next venture.

"It is interpreted more modernly and flabbyly in the saying: "Fall - get up - straighten the crown - go on! Behind this is the idea of dealing with falls, new situations, changes like a queen: not to lose pride and simply to continue after reflecting and learning from it.

A thorough post-mortem analysis following a startup closure is essential for professional and personal development. It can significantly enhance your prospects of success in future ventures. Here's a structured approach to conducting such an analysis: • Goal Review • Strategy Assessment • Metrics Examination • Seeking Feedback • Identifying Root Causes • Extracting Learnings • Documenting Insights • Planning for the Future Remember, a post-mortem analysis isn't about dwelling on past mistakes or assigning blame. It's about learning and growing from the experience. Frame failure as a stepping stone to future success, and leverage it to become a stronger and more resilient entrepreneur.

First step is retrospective of all results, actions and communications that you and your team had. Second is focus on Learning, Not Blame: Avoid assigning blame and instead focus on extracting lessons. Understand the root causes of the failure and use them as stepping stones for improvement. Learning from mistakes is an integral part of entrepreneurial growth.

Your startup tanked. What's next? Change your mindset first. Treat failure as a lesson, not a disaster. Ask, "What worked? What flopped?" Mental health? It's crucial. Beyond chatting and yoga, dive into CBT. Mind strategies to combat stress. They're straightforward and effective. Sum up your flop and its whys on a single sheet. Make it your daily view. Aim to learn quickly and avoid repeat mistakes. Keep it clear and factual. Note down the missteps and their causes. Let it be a daily lesson, not a source of regret. Choose action over mulling. Advance smarter.

Forgive yourself! I can you tell you from experience it’s not easy, it’s a work in steps but you need to find the route to self forgiveness.

Talking to family can backfire on you. Talk to people who understand you, and those might not be family and friends but other founders and entrepreneurs. The least needed thing during that stage is the judgement or someone telling you “I told you so”. I was not able to get any support from family, but random strangers who have been in my shoe before. Avoid any toxic comments or criticism at this stage. That can cause the situation when you feel stuck in that traumatic experience, as instead of support you have been judged and criticized for trying.

Embarrassment is toxic. Speak as openly as you can about your startup’s challenges and failures. You will find this will earn you a lot more respect than always trying to put lipstick on the pig (especially from people who matter!)

it's not a reflection on you. ive had plenty of failures over the years 3 failed businesses before I hit the right rhythm. 1) Take time to reflect 2) Speak to other founders 3) Be kind to yourself, you're not a robot. 4) ignore the negativity, you're going to piss people off when you close a business and it's an unfortunate fact they need someone to hate on, it's them, not you. Most importantly, dust yourself off, and go again. You can't beat a person who doesn't give up.

Founders rarely can go back to working in 9-5 job. Network with other founders and entrepreneurs. Startups value hand on experience and respect people who have previously went through that journey. Tap into your network and see where you can utilize your skills the most.

Transitioning to your next opportunity after a startup can be a smooth process with a well-structured resume. Here's a step-by-step guide to effectively showcase your experience: • Analyse and Reflect • Define Your Role • Quantify Your Achievements • Highlight Skills and Tools • Showcase Credibility • Recognize Accolades • Craft a Strong Summary • Target Each Application By following these steps, you can effectively update your resume after a startup experience and position yourself for success in your next career move. Focus on the valuable lessons learned and skills gained, demonstrating a positive and growth-oriented mindset.

Traditional resumes are for people who want a job. Most entrepreneurs I’ve met never want to go back to being just an employee (if their financial situation allows). Focus instead on networking, and just make sure your LinkedIn profile reflects your recent startup experiences and the learnings/insights you took away from them.

Don't downplay your startup experience! Highlight the valuable skills you gained – leadership, problem-solving, and navigating challenges in a fast-paced environment. Consider framing your experience as a "founder" or "CEO" to showcase your initiative and entrepreneurial spirit.

É sempre bom manter-se atualizado. Faça curso, busque mentores de carreira e o máximo de ajuda que conseguir. O Linkedin é uma ótima ferramente para ajudar a se realocar novamente ou ter uma nova ideia de negócio. Caso o caminho seja a realocação, basta atualizar o seu curriculo e começar a criar conteúdo relevante. Caso queira volta a empreender, é importante entender o que está em alta no mercado e como você consegue se encaixar.

👉🏻 Leverage Your Network: Your previous venture likely introduced you to a plethora of individuals, from investors to fellow entrepreneurs. Reach out, not just for opportunities, but for insights and mentorships. 👉🏻 Dive into Emerging Fields: Keep an eye on industries that are gaining momentum. Whether it's AI, renewable energy, or biotech, immerse yourself in learning and identify how your skills can contribute. However, avoid jumping in solely based on trends; passion and expertise should guide your choice. 👉🏻 Consult or Freelance: Utilize your accumulated skills by consulting for other startups or freelancing. This not only keeps you in the entrepreneurial ecosystem but also offers flexibility to explore new ideas.

Even if your startup is successful, you will have learnt more from your mistakes than your successes. 9 out of 10 startups fail! There are so many reasons why it might not have worked out the way you hoped, but the most important thing is to not feel too down about it. Failure is a huge part of the founder journey! As a first time founder, there's so much you don't know and some things, such as economic downturns, pandemics etc. are out of your control. Start looking at the positives. The skills, experience and network you've acquired through your journey. How can you best utilise those skills in your next opportunity?

Mesmo que você tenha falhado, é possível tirar aprendizados disso. O maior deles é se realmente empreender é para você. Outro ponto importante é aprender que você pode ir sozinho, mas vai chegar muito mais longe acompanhado. Tente participar de grupos de empreendedores, respire mais desse ambiente para te ajudar a se desenvolver.

A startup failure, while challenging, can be a valuable learning experience that propels you towards future success. Here's a roadmap to navigate this period and emerge stronger: • Reflection and Learning • Market Research • Leverage Your Network • Seek Mentorship • Collaboration is Key • Explore Programs • Embrace Agility • Take Decisive Action By following these steps, you can effectively navigate the aftermath of a startup failure and position yourself for future success in the entrepreneurial landscape.

With your lessons learned and a refreshed resume, start exploring new opportunities. This could mean diving into a new venture, joining another startup, or even taking a role in an established company. Each path offers different learning and growth opportunities. Consider what aligns best with your skills, interests, and the lifestyle you envision for yourself. Sometimes, stepping into a different role or industry can provide fresh perspectives and inspire your next big idea.

When a startup fails, it’s not a personal failure. Pick yourself up, dust yourself off, rewatch Carol Dweck’s Ted talk, and get back to work. You got this.

Failure doesn't define you. It's a stepping stone. Approach your next venture with the wisdom gained from this experience, but also with the same spirit of innovation and drive that fueled your startup dream.

Following a startup failure, maintaining a growth mindset and adaptability are essential for future success. Here are some key steps to consider: • Reflection and Learning • Opportunity Exploration • Iterative Development • Building a Network • Resilience and Persistence • Adaptability and Innovation By adopting a growth mindset and remaining adaptable, you can transform your startup failure into a valuable learning experience that fuels your entrepreneurial journey and future innovations.

I said it in another article, and I'll say it again, failure is SUBJECTIVE. Keeping an open mind means that you are willing to rethink it and to redo it. Since for many, money is in issue, think about how it could be done cheaper. Maybe you don't need to kill the project, just place it on a back-burner where you can keep it warm until the dust settles and you decide on the next moves. This might take years! But in the meantime you stay attuned to the industry, the players, and keep your ideas floating around in your head and on screens & paper, which may help you stay in the game when mentally you feel failed, or checked out, or exhausted from the journey. The Web can keep a brand alive too, it's not too expensive to run a minimal website.

When a startup fails, it’s not a personal failure. Pick yourself up, dust yourself off, rewatch Carol Dweck’s Ted talk, and get back to work. You got this.

When I was CMO at recruiting software company Lever, one of the other players in our space was struggling to scale its client base and ended up being acquired by an entity which took its software off the market. Rather than leaving existing customers high and dry, the startup leaders reached out to us to ensure that we were on standby to migrate any of their existing customers over in a timely manner and at favorable rates. A lot of leaders talk a good game about being customer-centric. I thought it said a lot that in the midst of a stressful transition, the leadership team at a rival company were still thinking about the customer experience and wanting to leave their customers in a good place.

Cuando fracase, tome una decision clave y fue un día decidir que era el ultimo día de esa compañía y al otro día empezaría nuevamente. Para los emprendedores, es difícil encontrar trabajo en empresas tradicionales (en mi experiencia) por lo que el único camino que tenia era volver a empezar. De modo que mi concejo es pasa la hoja rápidamente, aprende del fracaso y crea un nuevo plan. Solo los que intentan fracasan, así que a volver a empezar.

After your startup fails, ask yourself WHY you were doing what you were doing. It's super enlightening when you do. 🧘♂️ And for many founders, they realize that the things they actually WANT to do are now possible with the blank slate. 💡 For example, when I ran my last company, by the end, I was just still doing it because it's what I was already doing but I was burnt out and done way before I was out. 😫 For many founders (not all), by the time their company fails, momentum or a desire to not fail was driving them and not passion. 🥺 Bright spot. It sucks when a company fails but often for anyone with the founder traits it's extremely possible to turn lemons 🍋 into something sweet 🍯 Keep at it! For many it's a new beginning.

Clarity and purpose are key to happiness and success. They help you set goals, stay motivated, and avoid feeling lost. In business, they’re essential for building a strong brand and making meaningful decisions. The Japanese concept of IKIGAI, which combines what you love, what you’re good at, what the world needs, and what you can be paid for, is a powerful tool for finding your “reason for being” and living a fulfilling life.

While experiencing a startup failure can be discouraging, it presents a valuable opportunity for learning and growth. Here are some key considerations for navigating this situation: • Reflection and Analysis • Learning from Mistakes • Financial Assessment • Stakeholder Communication • Well-being and Support • Next Steps • Networking and Relationships • Upskilling and Re-evaluation • Persistence and Resilience • Seeking Guidance By effectively responding to failure, you can shape your future success. Embrace the learnings gained and utilize them to propel your growth and resilience on the path towards achieving your goals.