How to Recover From a Failed Startup An organized, orderly shutdown will be quicker, less stressful, more legally sound, and easier on the people around you.
By Deanna Ritchie Edited by Mark Klekas
Key Takeaways
- As you prepare to close your business, closely audit your finances
- Consider initiating a postmortem analysis
- It's tempting to think of your startup's failure as the end of a journey, but it's also the beginning of a new one
This story originally appeared on Readwrite.com
Most entrepreneurs who start new businesses understand that failure is a significant possibility but optimistically hope that their startup will defy the odds and become massively successful. No matter how hopeful you are — or how skilled you are as an entrepreneur — a failed startup is never more than a few bad decisions away.
A startup failing isn't necessarily a reflection of your abilities, but it can hurt both your ego and your wallet. How do you recover from a failed startup and maximize your chances of success the second time around?
Make the Final Decision
The rest of this article is locked.
Join Entrepreneur+ today for access.
Already have an account? Sign In