Episode Details

In today’s Startup Therapy Podcast, Wil and Ryan talk about the truth about Startup shutdowns. Shutdown cycles always happen to Startup businesses, several bad decisions don’t mean a complete failure, and second chances can happen when you’ve asked the critical Why’s.

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Resources:

• https://www.startups.com/begin

What to Listen For

• 00:00 Intro
• 00:59 Startup shutdown is always part of the process
• 07:05 Shutdowns had been happening even before COVID
• 12:15 When you assume you’re a failure because of several bad decisions
• 14:27 How bad was the mindset?
• 16:47 What was the turning point?
• 19:56 Rising back after a 48-hour downtime
• 24:59 Do-overs are what defines some of the great companies
• 28:46 Tips on how to restart a Startup
• 34:06 The looming danger when you can’t ask all the critical “Why?”
• 35:54 It starts with seeing a version 2 of the business to restart