My Failed Startup Story.

This is the story of how I lost all my savings and wasted two years of my life working in a failed startup. Most startups fail, but we don't hear about them because the founders and people who worked there are ashamed of the fact. I know, because I was one of them.

In this video I wanted to share my failed startup story, and some of the mistakes I made along the way. I am not saying all startups are doomed to fail, but many won't become the amazing success that people assume.

If you have been part of a failed startup hopefully this video video helps you feel less alone, and know that you can always reinvent and find new ways forward in your career and life.

#startups #funding #epicfail

[heyyo]

90% of all tech startups fail within 1 year. When I started my own, I simply decided that $50'000 was the money I'd put into it, and Im FINE with losing it all at least for the pursuit of a dream. I would never forgive me if I didn't try that. Better losing it for a good shot rather than spending the rest of my life being bitter and regretful that I wasn't brave enough to do something I truly believed in.

[johnkirstein]

I failed 4 times before starting the successful business. Part of the process for me was to find out what things about myself I need to improve, and another part of it was finding a business that I enjoy enough to work through the rough days.

[aaronflynn]

Whenever I watch a video about how someone "made it", I become intuitively curious about all those who risked it all and "failed". It doesn't mean that you made a mistake by giving it a shot.

[Wasdenkstdu]

Hearing your story really gives me some peace with my own story. I worked on my own startup for the past 2 years and we are at the point where we will shutdown. We just never got the traction that we needed and lost our USP, because we were unable to create the product we inteded to develop. What really striked me in your video is that I feel excatly the same, as you, I also went into the startup world mainly to earn big money and get the feeling of doing something special, but i never loved the work. I had no passion for our product or the things we wanted to do, so even when trying I couldnt give it my all. I hope i will sooner or later find my passion and be brave enough to go for it, whatever it may be. Atleast i know now that it is not the start up world for me, even if it really hurts right now.

[omarsaad]

Thank you so much. This made me thank again before stoping my college.

[hansolo.]

Thanks for the honest sharing! I’ve been in a very similar situation to yourself pursuing startups, and it’s important to know that building a business is a team effort and many factors are outside of our control. As long as we learn from the experiences and grow as a person, it is worth it. Stay blessed! 🙏🏼

[gordonwong]

Thanks for sharing. You won't die wondering and that experience and insight is priceless.

Anyone doing a startup should seek to fail fast and if it's not a fail then that could be a sign that you're onto something :)

[trevsblog]

Nice one Daniel thanks for sharing your story. Tis a cliché to say but you only regret what you don’t do. My own business that I closed after operating it for seven years still brings me the greatest joy when I think back and lessons learned ever… I’ve had some affirming experiences lately with people passing and I’m convinced that money holds little value. An old friend who was always very concerned about money wouldn’t get a plumber to fix his kitchen tap because he was worried about being overcharged, this was days after being told he had weeks to live! He died shortly after owning three houses in the same road he lived in and had a bank balance fit to burst. I have many similar stories and all of these people would suggest that having a venture fail would be the worst thing in the world to happen. I guess what I’m trying to say here is that people hold money in greater importance than life itself even when money or possessions hold no value after your death. It’s the money that has them, they never truly have the money or a life outside or their concerns about money.

[al-zayyadnalado]

Awesome video, I'm close to launching my start up and although I love my idea and love seeing it come to light I'd be lying if I said im not a bit terrified of failure. Thank you for making this video.

[lewisburton]

Business is an intense game. I'm now on my second venture, and the first one is doing well and going strong 💪, but not without learning some excruciating lessons 🥵.

Keep your head up, shoulders back. You had the guts to go for it rather than fantasizing all day about it. Trust me if you have the entrepreneurial itch you’ll be back 😂 build MVPs they will save you pivot as you gather insights.

[jeffdavisauthor]

Phenomenal video, Daniel! One of your best. Powerful what you said here, on several levels. The truth about people often caring about the money more than the passion/impact. Also, quitting is often a great thing to do, when done consciously and for the right reasons - which is exactly what you did here. Really enjoyed watching this while on a break from work today!

[uyeqhgs]

I've been running a small business for 10 years. Right now the finances are not looking good. There is $200, 000 of business debt and I have $65, 000 of personal debt and it's looking like we are heading toward bankruptcy. I'm scared and depressed. This week I'm going to see several bankruptcy attorneys, but I'm probably going to lose everything if I'm able to file Chapter 7 for myself and the business. Worse yet, there are many customers in the business with substantial amounts in preorders... but there's not even close to enough cash to refund them all and the business might only be able to survive financially for a few more months. If I am able to file for bankruptcy I will lose my vehicle and most of my belongings and will probably have to move back in with my mom or a friend. This is the scariest and darkest time of my adult life.

[robbylebotha]

One of the secrets to success is learning how to fail fast. Its not failure, its a shot at basket, shoot again. Once you score a winning shot, it wont matter how many times you missed.

[zokrqit]

Thanks a lot for sharing your story sir!

[ActualLivingHuman]

Good share, buddy. Thank you for bearing your soul for our education.
Let us keep a stiff upper-lip.

[moritz]

Although I am really scared of failing this Video really inspired me and took this fear a little bit. I realised that the only thing I really fear is what others will think, but then again it just doesn’t matter

[peekhub]

Thanks for sharing bro! The honesty was so true and great 🍻

[suzannestrutt]

Thank you for your video, it was very encouraging. ❤

[lablel]

Thank you for sharing your story. It takes courage to put your story out between all these success stories.

[markhever]

Hi Daniel. This is one of the best videos I ever found. You reminded us that there is a way back from failure. I hope things are working out for you now.