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

1. SPSpeaker0:00

   What are good escape paths?

2. SPSpeaker0:02

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

3. SPSpeaker0:07

   Mm-hmm, mm-hmm.

4. SPSpeaker0:08

   [laughs] And to be honest about it.

5. SPSpeaker0:09

   Mm-hmm.

6. SPSpeaker0:10

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

7. SPSpeaker0:13

   Yeah

8. 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.

9. SPSpeaker0:19

   Yeah. Yes.

10. SPSpeaker0:20

    And so I think you just have to, like-

11. SPSpeaker0:21

    Yeah

12. SPSpeaker0:21

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

13. SPSpeaker0:24

    Yes.

14. SPSpeaker0:24

    We're not on the right trajectory.

15. SPSpeaker0:25

    Yes.

16. 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-

17. SPSpeaker0:36

    Yeah

18. 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?

19. SPSpeaker0:42

    [laughs] Yeah.

20. SPSpeaker0:43

    So you need to do something radical.

21. SPSpeaker0:46

    Yes.

22. SPSpeaker0:46

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

23. SPSpeaker0:51

    Yeah.

24. SPSpeaker0:51

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

25. SPSpeaker0:52

    It is

26. SPSpeaker0:52

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

27. SPSpeaker0:57

    That you could explain.

28. SPSpeaker0:57

    You need to do something so unc- uncomfortable-

29. SPSpeaker1:00

    Yes

30. SPSpeaker1:00

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

Episode duration: 1:12