“The most successful founders in the world could spend a lifetime showing you all of their failures before their eventual success.”
It’s difficult to know when it’s time to shut down your struggling startup.
It’s such a personal decision. Maybe it was the wrong time for that idea. Maybe you don’t have enough cash to make your product competitive. Maybe a shift in the economy has made your business much less attractive.
Maybe you were just flat-out wrong.
The number one thing preventing founders from pulling the plug is their fear of disappointing others. The people who invested in them, supported them, and believed in them.
In my experience, those are actually the people in a founder’s life who are most understanding.
In fact, I frequently invest in 2nd-time founders. If they're honest, hardworking, and have a good thesis, I love doubling down on entrepreneurs with prior failures.
Remember, time is one of the greatest limiting factors in life. Sometimes, moving on is the right thing to do.
A failed company doesn’t mean you’re a failure.
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