
My Startup is failing – What should I do? - mohameddev
https://www.indiehackers.com/forum/my-startup-is-failing-what-should-i-do-4a0144975d
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ohiovr
Looks like some pretty good comments in there. I'll offer my comment even
though I'm not exactly a success either at this point. The most important
thing I think you should do is to learn why this enterprise isn't working out
and try to document it to examine it at a later time. Failure is the not an
option, it is the default option actually. So it takes a special angle to make
things work long enough to be worth while. Tear everything down in your head,
look at it from beginning to end. Where was the problem? Craig's comment might
be the biggest issue and that is that the original concept of the business may
be the problem.

If that is the case, then 4 months is not going to be enough time for you to
"pivot" to something different, or something completely different.

But you could shut down and lay off all your employees. If you are a
developer, you could manage the website or whatever and make some beer money.
I would not take on debt the risk is way to great for the reward.

What you need is time. If you have no employees, that time can be vastly
extended. Slash your expenses. Be honest with yourself; can you even maintain
your business with existing sales (if any) by your self. If not, might be a
good time to get out and shut everything down.

And next time start with the idea of crushing expenses. Teach yourself to
write software if you don't already. You need to create something that
provides value. The GDPR thing at least as you approached it didn't have
enough value. Either that or sales and marketing couldn't make it go. Some
ideas just don't have merit and have to be abandoned. Edit: should mention
that I've abandoned several ideas. Though I did get lucky with some of them
for a while.

