Think of it as not a failure, but as a learning opportunity. The founder (in most cases) does not drive the startup to crash. And it's not that the startup failure that makes people judge the founder. It's all about the mindset and how the founder owns the narrative.
Yep would like to know the mindset after the failure. What drives them or how they motivate themselves.
Genuine Entrepreneurs (and not those pseudo entrepreneurs who want to be founders) have this "keeda" that they'll always work on a new problem. They might take up a job while looking for a new problem or take a break in search of a new problem to solve.
Pseudo entrepreneurs will have a loser's mindset when a startup fails. Real entrepreneurs will have a learner's mindset.
Very very hard.. unless you have contacts or your startup life is less than 1 year.
This is probably true only if the person had zero relevant experience before their startup. Anyone with experience starting up and failing usually finds a better job than peers without the startup experience
And the entire process of running a startup gets you a rather large set of contacts. Even VCs who invested would help failed founders join other portfolio companies
It would be challenging. Besides ego, they might not feel the passion and connection they most likely had with their own startup, loss of control in ownership and decision making can be hurtful.
But, it all comes down to mindset and willpower. If the person wants to rejoin 9-5 workforce with a mindset that he/she is accepting defeat, anything and everything around would feel offensive (even if others didn’t intend it that way) and mundane.
If taken in a positive spirit, one can learn from experience and either take a break temporarily and bounce back or to share one’s expertise with another awesome company and being valuable part of it.
Interviewers in this case are likely to judge the candidate based on his/her past achievements, social image and professional network all put together. (Eg: Say the person has an elite educational background like IIT, IIM etc, they won’t be quick to judge because there is a presumption of excellence. On the other hand, if it’s a grad student with a normal college degree who founded his company and it crashed shortly, in this case he/she might be judged massively.)
Regardless, all that matters is how one introduces oneself, skill set that he/she offers to the new company and makes the best but honest narrative of unfortunate experiences.
Are speaking from experience, or speaking out of your ass?
Neither. It’s an observation based on people around me. Again, networking is important. One can learn a lot from experiences of acquaintances.
We are all grown ups, be polite.
So it’s happened to me ; I work in the hospitality space , hotels and about 1.5 years back started an asset management company as a founder ; however due to the investors not keeping their part of the bargain ended up looking out for the same rank and pay (GM) of a hotel in the multinational , branded space ; no go …. See hotels in India have a tough class system ; Five Star Deluxe, Five Star , upmarket four star , three star and down the line to the time share space and anytime you move you should not move down the chain …. Anyway, Crux of the matter was that I did not get anything , however due to networking and having a great equation with my last multi national branded hotels owner , have got the position of heading his hotel vertical head of ops …. So there it is …. Raw and bleeding …. Though frankly speaking this role has more meat than what I would be doing as a GM of one property ……
Not hard. Much easier to get hired for leadership roles actually. Plenty of real world examples on linkedin. Look at the profiles of younger folks at leadership roles at startups - you will find a failed startup (1-3 years) there. Beyond 3 years startups don’t really ‘fail’ - some form of buyout or acquisition happens (eg even nestaway sold for 10mn after raising 90mn)
I’ve worked with plenty of folks with a failed startup. At junior levels they become PMs or EM/architects, founders office, At higher levels - heads of a vertical. Much higher levels- Exit to a VC firm role
Are there any examples of early startup founders who failed in their startup idea and then went back to regular jobs?
The point of this question is not to insult rather than to understand a different perspective of a founder’s mindset. ...
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