Experience from the failure of startups

In Silicon Valley, the founder failed to start a business, this is the most common opinion, or even an honor, every day business people, every day failed, here we look at the founders who have failed eight, despite They have succeeded now, but they have all experienced failure.

1. The goal is not clear

When we first started our business, we set a very high goal. Later, we discovered that there was a lack of continuity and detail. This not only changed our habits, but we also thought that such sustainable gamification would be a Important elements. Education about sustainability is also a key element. At the same time, we think that social sharing is also important. At that time, we still had a lot of ideas.

If we start over, we will focus on one idea or idea, starting from a small one.

Aaron Schwartz, Modify Watches

To enter the market too early

My first corporate failure was due to a rush to bring the whole idea to market, when we wanted to help people understand the risks behind social media at the enterprise level, when customers simply did not know what social media was and marketing social risk was simply To play the harpsichord. We explained to them a long time did not explain what is social media.

If we do it again, we start by training our corporate clients and tell them that there is social risk. Later, the second venture, found the right market, users do not have to explain we understand that there is social risk.

enish Shah, Vicaire Ny

3. No good cash flow

Sometimes the data is not only the status of the business, but also the signal of a company. When I was young I just did what I liked to do, create, sell, grow ... until one day I found myself tossing up the money, leaving just a big box of IOUs left. If I had better tracked my money flows before and tracked accounts receivable, I could avoid the ultimate failure of the company.

In the second successful business I learned how to think, how to interpret the financial report, if your financial report chaotic, your company may be maintained for a long time.

Kent Healy, The Comom Life

4. Venture time is wrong

The first start-up is very successful, have also been the seeds of investment. Our founders also borrowed 25,000 U.S. dollars. At that time, our business model was based on job advertisements. To be honest, it was very difficult to sell advertisements in 2008. Soon after we borrowed the money and seed investments, we had only two options: to borrow more money And close the door directly.

Afterwards I asked myself: Does this idea deserve to invest my whole life? The answer is "No." The best decision I made was to start my first startup and the second best decision was to close it.

Kasper Hulthin, Podio

We have no audience

The only thing I learned before starting a business was learning many experiences of failure. The most important thing was that I learned that products were proven to be useful to the user, otherwise the sales program was perfect and useless, only when my users approved it Will produce value.

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6. Do not attach importance to recruitment

My first brother and I started the company, but was hijacked by employees. All I want to say now is to hire those who are sincere and trustworthy, learn to protect themselves, and learn to run lean.

Ziver Birg, ZIVELO

7. Founder motivation is different

At first I tried to build an apartment listing website with my roommate. At first, they were very excited. But when I realized there was a lot of work to do, such as going to Wisconsin in the winter to disperse, photographing apartment photos and collecting information about the landlord. Their excitement subsided, and they began to return to academic studies, parties, and girlfriend dating days.

Now that I start a business I start a business myself and then employ two co-founders to help me.

Nathan Lustig, Entrustet

Do not spend too much time on bad things

I have been through three companies, the first time, increased to 7 digits, the partners are good.

The second company has not met its expectations. Once there is any "X" time, the partners did not handle it well, and I personally invested a little less.

So be sure to anticipate and ask yourself before something happens. If something bad happens, how do you deal with it in an emergency? If you do not deal with the problem in time, you will lose strong motivation and your morale will decline. Then business started to stagnate.

Trevor Mauch, Automize, LLC