

5 Lessons Learned From My Last Failed Startup - cschmitt
http://oakcitylabs.com/2012/10/26/5-lessons-learned-from-my-latest-failed-startup/

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ghettoCoder
Not to be a jerk, but if you had the inside track on a largish contract to
launch yourself with what happened over 3 years that your lost a lot of money?
Couldn't land other clients or did you get bogged due to contract that failed
to outline expectactions.

Rule one is to always be working on your next income stream. As much as
clients hate that behaviour from vendors that's the game. Either you play it
or you lose.

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cschmitt
No problems, I left at lot of the details out because I didn't think it was
relative to the posts. The contract was a fixed price to deliver the system
and only gave me 18 months of income. This was the first large contract for
both of us, so the language was not as crisp as it code of been. Finally 2
months before our release date they switched almost the entire executive
management team and everyone I had spent the last 17 months building
relationships with. The new team wanted additional capabilities and looked to
build out an internal team. I then got a small retainer from them for 3 months
worth of support why they transitioned support and enhancements to inside
developers. After that I struggled for the next year of so picking up the odd
client here and there. The loss of money came during the last couple of months
when I tried bootstrapping my own idea (which ultimately failed) and increased
advertising to find new clients. So it was a little of both.

Thanks for the question.. I would love to know if you have any other feedback
for me. As you can tell I am somewhat new to blogging.

