Sold my startup for nothing just before it took off. Now i'm broke. Need advice.
How do you recover from a success (first success after a multitude of failures) that you let slip through your fingers - by selling just before it took off?
It is eating me alive. I'm almost back to square one (broke, no ideas) and can hardly hold myself together.
I try to pump myself up to try something new but the thought that had i held on just a little longer i wouldn't even be in this position saps my productivity.
Faced with the prospect of having to reenter the job market (after having actually built something that works) is a nightmare that i never thought would be realised. But here i am.
Every day - completely paralysed by the outcome of my decision.
Really would appreciate anyone's advice here.Thank you.
In this 2014 acquisition retrospective, @ahugefool reflects on the journey of bootstrapping and successfully selling their business.
Hacker News peers debated transaction structures (cash vs earnout), founder tax strategies, and life after liquidating a long-term indie asset.
Get out of bed and stop feeling sorry for yourself. Life goes on. Do the following actions:
1. Get at least 8 hours of sleep every day. Go to bed at a reasonable hour, and get up when you wake up.
2. Get a small notebook and a pen. Carry them with you everywhere.
3. Eat properly. No excessive junk-food. Don't skip meals.
4. Ever day for at least 1 hour, go to a quiet place and bring out your notebook. Spend the entire hour writing out ideas. It doesn't matter if they are good or bad. Just write them out. Do it. The point is to use your "idea muscles".
5. Spend at least 1 hour every day walking, running, moving, or doing something to make your body active and actually get your blood pumping. Even if it's just 5 minutes here, and 2 minutes there... do that a bunch of times every day.
6. Repeat step #4 at least two or three times per day.
With the above steps, you will condition your body and brain to be a thinking machine. You'll find after a week or so, it will become easier and easier to think up ideas for your notebook. Soon you'll have hundreds of ideas written down. Eventually you'll get an idea for a new startup that just work. Pursue it! (Don't stop the steps above, though... maybe just limit them a bit.)
Remember, your brain is a muscle. Exercise it. Keep your body in decent condition because it feeds your brain.
You're paralyzed because you now believe that you are 'ahugefool'.
Step one would be to try to find some way out of that pattern of thinking. No wait - step zero is to not give yourself usernames like that.
If you're an ordinary human like the rest of us, your brain goes haywire with low-probability/high-consequence outcomes. You'll want to punish yourself in proportion to what you missed out on. But maybe you should consider evaluating yourself on what knowledge you had at the time?
I think you need to engage in some "accounting" of everything you did, with someone you trust, like a therapist or a person whose business advice you trust.
Maybe you can try cognitive-behavioral therapy, with a trained therapist. You start with your negative thoughts like "I'm a huge fool" and recursively break those down until you arrive at baseline observations and facts. If you're a programmer this highly rational mode of therapy may work well for you. You will almost certainly find that your negative conclusions about yourself aren't warranted.
Give yourself courage , i started mine left me broke and i closed it stayed without work for an year but did some mear jobs here computer hardware repair and enhanced my knowledge nowadays when people ask me i feel good telling them i got broke and closed it but am better now knowledge wise and am planning to start it again and this time it will pick up ... be proud you started it and remember the way and the ideas you had are still there and you can even start and enhance it more ..... i read the guy who started Github left to stsrt another you can also do so ... think of an idea you will succeed again.
- What was it that your startup lacked while you were in charge? Be honest with yourself so you can learn from this experience and do it better next time.
- Perhaps this will come across as cynical, but your current position has several advantages too: a) you don't have much to lose, b) your potential is higher than what you're currently going through, so it's likely that your situation will improve, c) you are experiencing a situation that is very common these days, it might inspire you to create something that will be of use to many people
Find yourself a job to stay afloat and plan for the future. Of course you can do it again!
Congratulations!
You managed more than most of the start-ups! Your idea was worth it and it will go and change part of the world. It was your doing.
By now, you have experience in starting, you have confirmation on your ideas. This is bigger win in long term.
Bummer that you didn't get paid in money, but money comes and goes. You will do fine. being a employee for a while, might be a nice change to reflect on your experience and work on your ideas. Less hectic and more stress free change.