Ask HN: My startup failed, now what?

28 points by quotz ↗ HN
I was a non-tech cofounder of a hard tech startup that raised a seed round of 500K. The startup failed for a bunch of reasons unrelated to this topic after 2 years of existence. Now I need to get a job, and I have no idea what kind of job I am qualified to get in the tech world. Before the startup I have one brief business development stint but nothing major, and a degree from a prestigious university. I don't even know where to start regarding what positions I can get? I can certainly try business development again, but I want to be more involved in the product.

21 comments

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You have many options. Joining another startup seems like an easy fix. If you want to go corporate why not join a bootcamp to level up your skills. General Assembly has a good product management program.

Everybody fails at many things multiple times in their lives. Just try to manage failure gracefully and get things in order before trying again.

> You have many options. Joining another startup seems like an easy fix.

I have an honest but blunt question: how enticing is the idea of hiring a non-tech founder of a startup that failed only two years in and at best raised only 500k in funding?

This is going to be very contextual. Hear me out; what if they had some revenue and were on the verge of default alive.

"I led the team to ramen profitability and we had to raise only $500K in our two year of survival. We grew from $10K MRR to $100K MRR in 16 months. Unfortunately, we missed the target for our next fundraising round.

I heard you are talking to Saint-Gobain (or insert some big MNC) and I have done similar studies in their cement sustainability approach. Do you wanna talk more and see if I can help you fill in some blanks."

Now, I would or any founder love to talk more with that person.

I'm a founder (multiple times, with failures) and I would be interested in talking to this person for sure.
There are plenty of Product jobs out there. Product Manager is a direct application of the same skills. They love ex-startup founders as opposed to someone who worked in some corporation and did focus groups and week-long UI/UX workshops, but never talk to users.
"I'm a business/product/xyz co-founder and good with product/people/business/pre-sales. In our prior Startup, I took the product team from a person of one to XYZ and sustained the company's growth for two years. Unfortunately, we had to shut down our company. I'm looking for a founding or early-founding team role in a seed/or-something funded Startup taxing on its runway. I can do this/that to achieve that/that/and-that/. I don't consider myself technical but can understand and translate the technologies to meaningful business outcomes and sell it externally to customers or the internal stakeholder."

Now, change/edit/enhance that narrative and approach Startups with cash in their bank. This is if you still want to fight it out and become an experienced founder. Your third attempt, if you have to, might have a much better story and outcome.

If you want to go to a big corporation, then I believe you have many choices.

Ask yourself: was the startup a failure due to macroeconomic conditions or something else outside your control, or did it fail because of internal mistakes and lack of experience?

I fear too many people get into the startup world and end up cosplaying as executives, when in reality they haven't put in the hard work to earn that position. If this feels uncomfortably close to home, I suggest focusing on a "normal" job in a corporate environment, and being humble about what your experience really counts for when it comes to levelling expectations.

I'm going to steal this lines. You have put things in a clear and concise words.

"You cosplay long enough till you become a superhero."

Or fake it till you make it..
The majority of funded founders are replaced for this reason of cosplaying a leader or not being able to prioritize learning it.

I believe the number I heard read was over 90 percent.

Yes, but as a counter-point; how do you determine if someone is cosplaying? You seem to imply that there is some skill that makes startups a deterministic job, but it isn't.

Everyone is cosplaying until they meet some challenge for which there is no script.

I don't think it is deterministic - and the things which make someone a good CxO are obviously (to me, at least) not something which you can teach easily, otherwise MBAs wouldn't have such a shoddy reputation. It is more of a fusion of age (which implies experience, even if not a linear relationship) and diversity within the experiences a person has had. It's a continuum. The OP stated some limited amount of experience in bizdev right out of college, which doesn't qualify you for the role of dog-catcher as far as I'm concerned. The startup experience itself is probably worth 2-3x the equivalent years in that bizdev role, but still I'd say they are on the low end of the spectrum for someone I'd trust being in charge of a company. If they had a couple more years of corporate experience or another startup on the resume, it would be a different matter.
I would argue most executives everywhere are "cosplaying", but the ones at big stable companies have a huge headwind in that the company has already figured out how to make enough money to pay their inflated salary. Startup executives are in the business of figuring out how to make that happen, and I get the impression that most of that is just hard work and luck rather than any skill or experience.

That said, there is probably soon to be lots less demand for "executives" that have only a little bizdev experience and a failed startup. If you are a good bullshitter you can maybe find another one and roll the dice again. More likely you will want to find a "boring" job and keep your head down for a while (if you can).

It’s failure if you didn’t learn anything from it that you can’t transfer.

What skills and lessons can you transfer and build on? There surely are some. That’s the part of your story you can write next.

If it’s product, no one gets good at it by doing it once or only doing it right.

Lean product is finding your way to do as many build, message, learn iterations possible to learn most efficiently.

If you’re looking to get in touch with the creator and product side in you, you might like the book the war of art, or revisiting it.

Good luck and for those who might find this later , post an update sometime.

I write resumes for a living and give career consultations. Maybe 5% of my clients come to me with similar issues - they have accomplishments and work history, but really struggle to identify direction for their next move. During the writing process, I ask questions about things they did, and I've typically found that the things people talk about the most (or in the most detail) tend to be the things they are best suited for.

Start writing about what you did at your startup - things you were ultimately responsible for, things you are comfortable 'taking credit' for, etc. When you've done that, look back and see if you can identify any themes in there.

Don't worry about the startup failing, there are literally millions of people with similar stories of being part of a failed startup or even several. Look ahead while also thinking about what you learned during the process - what would you do the same way, what would you do differently.

Starting a company and having it fail can be a difficult and emotionally challenging experience. However, it's important to remember that failure is a natural part of the startup process, and many successful entrepreneurs have failed multiple times before achieving success.

First, it is important to take some time to process and reflect on what you learned from your startup experience. Reflect on what went well, what didn't, and what you would do differently if you were to start again. This will help you learn from your experiences, which will be valuable for your future endeavors.

As you start to look for your next job, it's important to remember that you have valuable skills and experience that can be applied to a variety of roles in the tech industry. The fact that you have experience working in a hard tech startup is an asset and should be highlighted in your resume and in interviews. You can also consider focusing on roles that align with your interests such as Business Development and product development roles.

You can also reach out to your professional network, such as former colleagues, classmates, and mentors, to let them know you are looking for a job and ask for their advice or if they know of any job openings that would be a good fit for you.

It's also important to remember that you don't need to have the perfect job right away or have everything figured out. It's okay to take some time to explore different opportunities and find something that is a good fit for you. Be open to different types of roles and companies, and don't be afraid to take a step back if you need to in order to gain more experience or skills.

Finally, you can consider going back to school or pursuing additional education if you think that would be beneficial to you, but make sure you weigh the cost of the education against the potential benefit before making the decision.

This is definitely ChatGPT
ahaha you guessed it right! I was interested to see the reactions:

1) If a discussion had started from chatGPT's comment then it would have been interesting for the future of ChatGPT 2) If, as it was, it is discovered to be a robot then it makes me wonder if chatGPT is just yet another hype.

In your opinion, will chatGPT be included in HN's spam filters to limit the noise?

Today I learned that I speak roughly like a robot.
Are you good at sales? Are you based in the USA? Do you mind working on straight commission? (50% - 70%) Would you like to have input on expanding products ? If so please DM me
Believe in yourself and try to build cash flowing systems. Or... Lots of existing companies that are very scrappy are constantly looking for 'bolt-on' mad men builder types that can get things done. Perhaps looks for companies that have the shortest distance between your actions and revenue generation for the business. ie: sales has 3 leaps. Contact, chit chat, sale. Opposed to a position that commoditizes your time. The latter is a negative option because the supply of available talent familiar with the internet jungle has just multiplied not to mention its been saturated with international talent for atleast the last 5 years.