Dear SaaStr: What Should One Do After a Failed Startup?

Dear SaaStr: What Should One Do After a Failed Startup?

If it “failed” after < 12-24 months or so, and you didn’t raise any or too much money — it doesn’t matter too much. No one will care. And there’s no need to explain yourself, apologize, or feel like a failure. No need.

Dust yourself off, and decide if you want to do another one.

And if you do — the key is, just consider that one-year start-up an experience. That’s it. The key is:

• Be matter-of-fact about the experience. I know it wasn’t just “a job”. But sort of act almost as if it was. You tried. You gave it your all. You learned. And. It’s done. You’re ready for the next challenge.
• Don’t act like it was Such a Big Deal. It wasn’t (in good and bad ways). I don’t want to hear 20 minutes about your failed start-up. I want to hear 120 seconds.
• Don’t act like you learned that much or are a big expert now. You learned a lot, don’t get me wrong. You took a risk. You worked for nothing. You tied. I respect that. But if you never got to at least $100k in ARR, you didn’t build a business. You started a start-up, but you didn’t build a >business<. Don’t act like you did.
• Be humble, but not bitter. Be humble about the experience. We’re all human. But don’t be bitter. We don’t like to see that.

In Silicon Valley, a quick failed start-up, especially one that didn’t raise any real money, isn’t a negative.

But making a huge deal out of it is a maturity flag.

And dwelling on it will worry people about working with you.