What do you do if your startup isn't working? #startups

1. 0:00 – 0:02

   Defining the question: finding “escape paths” for stuck startups

   1. SPSpeaker0:00

      What are good escape paths?

2. 0:02 – 0:10

   Step one: admit the startup has a problem

   1. SPSpeaker0:02

      I think that like a lot of things in life, step one is to admit you have a problem.

   2. SPSpeaker0:07

      Mm-hmm, mm-hmm.

   3. SPSpeaker0:08

      [laughs] And to be honest about it.

   4. SPSpeaker0:09

      Mm-hmm.

3. 0:10 – 0:20

   Denial and “zombie startup” coping mechanisms

   1. SPSpeaker0:10

      And it's, it's surprising how often people are just in denial-

   2. SPSpeaker0:13

      Yeah

   3. SPSpeaker0:13

      ... where, like, part of their brain knows they're a zombie startup, and part of them is like, "Well, you know, but, but..." There's, like, all these excuses. There's all this cope.

   4. SPSpeaker0:19

      Yeah. Yes.

4. 0:20 – 0:26

   Get real: acknowledge trajectory and momentum

   1. SPSpeaker0:20

      And so I think you just have to, like-

   2. SPSpeaker0:21

      Yeah

   3. SPSpeaker0:21

      ... get real. This isn't working.

   4. SPSpeaker0:24

      Yes.

   5. SPSpeaker0:24

      We're not on the right trajectory.

   6. SPSpeaker0:25

      Yes.

5. 0:26 – 0:36

   The “come to Jesus” moment: commit to radical change

   1. SPSpeaker0:26

      And then what I would usually tell people is to kinda like have, like, a come to Jesus moment about how you're gonna radically change something about the business-

   2. SPSpeaker0:36

      Yeah

6. 0:36 – 0:46

   Why incremental improvements fail after long stagnation

   1. SPSpeaker0:36

      ... because a bunch of small incremental changes that you've been trying for the past year or two, that hasn't been working, right?

   2. SPSpeaker0:42

      [laughs] Yeah.

   3. SPSpeaker0:43

      So you need to do something radical.

   4. SPSpeaker0:46

      Yes.

7. 0:46 – 0:52

   Risk calculus: radical and wrong vs. staying “dead anyway”

   1. SPSpeaker0:46

      And there is a risk that you do something that's radically wrong, but I'm arguing you're kinda dead anyway.

   2. SPSpeaker0:51

      Yeah.

   3. SPSpeaker0:51

      So again, this is the logic is if, if-

   4. SPSpeaker0:52

      It is

8. 0:52 – 1:12

   Do what you’d never do: choose uncomfortable, scary experiments

   1. SPSpeaker0:52

      ... if, if none of your current efforts have worked, you need to do something that you would never do on your own.

   2. SPSpeaker0:57

      That you could explain.

   3. SPSpeaker0:57

      You need to do something so unc- uncomfortable-

   4. SPSpeaker1:00

      Yes

   5. SPSpeaker1:00

      ... 'cause your current tactics haven't worked.

   6. SPSpeaker1:01

      Yes.

   7. SPSpeaker1:02

      Right? And so I'll encourage founders to be like, "What's something that seems way too radical or scary that you never would've thought trying before? This is permission. Why don't you try it?"

Episode duration: 1:12