Loved the personal story. This is such a tough topic for entrepreneurs. No one wants to take the ego hit, but the opportunity cost is such an important factor.
@stevebarsh7727
3 жыл бұрын
100%. Great way to put it and we can say it mathematically -- "Opportunity Cost > Ego Hit". Thanks for watching!
@melshakir7475
3 жыл бұрын
Excellent advice Steve, as always! Its really imp for entrepreneurs to understand the opportunity cost of a startup not going anywhere and to shut it down without giving in to emotions. Shutting down is not losing. It's about making room for your next exciting venture. Most successful entrepreneurs have a story about one or more failures that preceded or followed a successful venture.
@JasonPullara
3 жыл бұрын
Thanks for the sobering reminder. Myself and my two other founders decided that since things weren't working out we're just going to focus our talents on making fun video games we like to play and putting one game out there to see how it goes.
@stevebarsh7727
3 жыл бұрын
Good luck! Thanks for watching!
@josim8908
3 жыл бұрын
It'd be interesting to hear how you reached out about being acquired and how companies should do this or if they should. Great content as always, thanks!
@stevebarsh7727
3 жыл бұрын
We have a guest Dreamit Dose coming up in September on startup M&A mistakes. Your question will be one that we cover. Stay tuned! Thanks for watching!
@josim8908
3 жыл бұрын
@@stevebarsh7727 Awesome, thank you!
@joshb5576
3 жыл бұрын
I absolutely love this series you do and the information you have. After you shut your startup down, aka a "failure", how do future investors view your other ventures? With the baggage of your previous startup, would this be seen as a penalty in the eyes of an investor, or would they value it as a positive thing; that you have experience, and learned from previous mistakes? Fantastic information you are putting out.
@stevebarsh7727
3 жыл бұрын
Most smart investors will ask you what you learned. Investors know it's common that startups fail and founders of failed startups go onto build successful companies. So you just need to be open and honest at lessons learned and what you would/should/could have done differently. Thanks for watching!
@ryankonrath389
3 жыл бұрын
Great video Steve.
@stevebarsh7727
3 жыл бұрын
Glad you liked it. Thanks for watching Ryan!
@kchwophy
3 жыл бұрын
Interesting topic. Are there any huge start-ups that rose from the ashes after seemingly failing to get traction multiple times? What happens to the "keep grinding" advice that seems mainstream? How long is too long to keep grinding?
@stevebarsh7727
3 жыл бұрын
Good questions. Next Dose we are working on right now is knowing How and When to Pivot. That's more what you are asking. Stay tuned. Should be out in 2-3 weeks. Thanks for watching!
@kchwophy
3 жыл бұрын
@@stevebarsh7727 That will be awesome. Always tuned 😁.
@mouradhamoud1495
3 жыл бұрын
Great content!
@stevebarsh7727
3 жыл бұрын
Glad you liked it. Thanks for watching!
@ralphaelxavierrobinson1125
3 жыл бұрын
How much should seed stage founders pay themselves early on?
@stevebarsh7727
3 жыл бұрын
As little as possible. Really - you don't want to be taking a lot of money out of the biz early on. Not great for the company and bad optics for investors. So take out enough to "get by" and not much more IMHO. Thanks for the question and for watching!
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