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Startup Therapy
Trailer
Bonus
Episode 73
Season 1
Why No One Tells Founders, It's Over, Move On
Are you working yourself into the ground without making much progress, if any?
In this episode of the Startup Therapy Podcast, Wil Schroter & Elliot Schneier break down the failure of their company AffordIt, what actually happens when you run out of VC money, and when you should drop the ego & focus on doing what’s best for your mental health instead.
Listen in to hear what our VC’s did when we ran out of money!
Episode Resources:
- Send us your questions - Therapy@Startups.com
- Sign up for the Startups Newsletter - https://www.startups.com/newsletter
What To Listen For:
- [00:00:12] - Welcome Elliot!
- [00:01:12] - The failure of AffordIt
- [00:02:42] - What happens when you run out of money from your captial raise?
- [00:05:19] - Obtaining VC in hard economic times
- [00:07:35] - What happens if you take on investors and don't become a unicorn?
- [00:10:12] - How to fail gracefully & maintain relationships
- [00:11:12] - Is it the investor's job to call when to fold the business?
- [00:13:08] - What we wished our investors would have done
- [00:15:35] - The importance of mental health in leadership and why no one cared at the time
- [00:18:04] - If investors won't advise you in critical moments, who will?
- [00:22:34] - The group that shatters your ego as a Founder the most
- [00:28:12] - AffordIt's breaking point
- [00:31:10] - The perfect person to tell you you're done
- [00:32:32] - Not sure if it's time for you to fold the tents or have a question? Email us at Therapy@Startups.com
- [00:36:57] - You don't have to run out of money to fold the tent