Entrepreneur

0 readers

1 users here now

Rules

No Personal Attacks - criticism of ideas is allowed, attacking people is not.
Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.

Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.

founded 1 year ago

MODERATORS

communick@indiehackers.space

I fear failure, and it's crippling me (alien.top)

submitted 11 months ago by mathbeliever@alien.top to c/entrepreneur@indiehackers.space

36 comments fedilink hide all child comments

I joined a business someone started, personally invested $200k, and forwent income for a year. This is after leaving a prestigious finance job after 5-6 years in the industry and quitting a senior role at a Fintech.

Company's sales is flat, and it's running out of money. If this doesn't work out, I'm a guy who quit the previous start-up (not doing very well rn) after 1 year, blew money, and joined another one that's also not doing well.

I feel like I'm not employable and that maybe my judgment is poor. Has anyone experienced or gone through this?

you are viewing a single comment's thread
view the rest of the comments

[–] shaqule_brk@alien.top 1 points 11 months ago

Yeah, I have. I got the offer of a ~1% share of a company I worked for in exchange for my overtime payout, and turned them down. Joke's on me. I left some half-year later or so, and the product I built for them worked so good and reliable that they could successfully scale up. Being honest, at the time I gave that company 50:50 of crashing vs. succeeding, because I thought it might as well go south for reasons beyond my control. They are quite healthy still and growing, so I made a bad coin flip on this one as it would have been a share nice-to-have.

Don't beat yourself up over failure like this. Figure out what's inside your control and what's outside of your control, and take ownership over what you can do.

Everything outside of that, it's always good to seek council. You must have someone with a law-degree in your circle, right? Perhaps friends or family you can trust? Talk to them, and ask for guidance. I found that lawyers make excellent dialogue partners when it comes to situations like that. I didn't do that. If I had talked to literally anybody about it, who knows what could have been negotiated instead.

Perhaps there is something you can do to turn it around. Like they say, a chip and a chair. You still got that. You're not out of business yet.

Hope this helps to lift your mood a bit!