What's the best transition path after your startup?
I grew my bootstrapped startup 900% during the pandemic to $150k GMV, but the long term opportunity is not as big as I anticipated.
There's not a lot of information out on the best path after your startup doesn't work out. Perhaps you've worked on it for sometime and realized you should move on, after all good founders seek the market truth.
Would love to discuss the best path forward with the goal of creating another company.
At the moment I'm considering joining a startup with a product role, in order to:
- Build my network (find potential co-founders and investors)
- Build my skill-set (pm role would lead to better management experience and experience speaking with users to build the right product)
- Learn coding (I've already started and taking time to work would give me more time to improve my skill-set)
Would love to hear your guy's thoughts!
ps just made a Twitter - connect with me to stay tuned to how things go or speak to me about anything you like https://twitter.com/arshiagm :)
Can I ask why you think your startup is going to pan out? Are your customers not coming back? Are your costs to acquire customers too high? Did you not find a good advertising channel? is it finding vendors?
Hey @sharemywin - it's a few things, I plan on publishing some material on the specifics once I'm ready. DM me I'd be happy to share with you in detail!
You probably have some really useful learnings and experience. Have you documented what you’ve learned?
I’ve heard that some investors only work with people who have tried and failed to create a business, as they better understand the challenges!
Whilst I haven’t been in your position, I think it’s a great idea to find a stop-gap where you can use your learnings to help another business succeed.
It’s only a matter of time until you have your next idea, so you can be patient and work on your skills!
Hey @cjpete thanks for the motivation.
Yeah I've documented most of it, and can definitely understand why investors would choose to do that.
I spoke with a guy at the end of 2019 working on an unsuccessful marketplace. Today I just found out his new startup funded by YC and raised a few million of seed.
Let me know if you got anything on your mind that I may be able to help with