Lessons learned from shutting down a startup


Hi friend!

This week's video is one that I took some creative risks with and is one that is pretty personal to me. I went back to the place where I launched my last startup and talked all about the experience of what it's like to shut down a company. Curious to hear what you all think of this one.

What's a hurdle you're struggling to get over with your startup? Happy to help if I can. Just reply to this email :)


Here's this week's video:

5 years ago, I was shutting down the startup I co-founded.

We had raised 190k on Kickstarter, went through Techstars, and even pitched to Daymond John from Shark Tank. By April 2019, despite our best efforts and successes, we were officially out of business.

The topic of shutting down a startup is rarely talked about, yet it’s the reality for most founders.

To tell the story of what it’s like to shut down a startup, I decided there was only one place I could record this video: the place where we recorded our Kickstarter video.


Helpful Content from Others:

Should you BOOST your Startup with an Accelerator?

I joined "the EntreProfessor" and his podcast to talk a bit about my story, no-code tools, and accelerators.

Being a founder and mental health

Given how poor mental health has been for founders in many studies lately, Founder Reports has put together some interesting resources to help founders take care of their mental health.

Speaking in sound bites

As I edit interviews more and more, I'm constantly impressed by those that can take a snippet of a conversation and turn that into a really engaging short form video. It's WAY harder than I originally expected. Nathan Barry put together a nice run down of how you, yourself can talk in soundbite format in interviews.

Another newsletter you should check out:

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NY Tech Week

Monday, June 3rd - Sunday, June 9th

Really bummed to be missing this, but this will be an awesome week for the NY ecosystem. Excited to hear how this goes and see what comes out of it! If you're in the NY area, I highly recommend attending some events this week.

Advanced AI Prompt Writing Skills

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Join us and our skilled presenter to learn beyond our introductory AI sessions as we delve deeper into Chat GPT, across key HR domains. This 90 minute advance prompting session is designed to equip HR professionals with the cutting-edge insights and advanced prompting skills needed to harness the full potential of AI in:

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How to run your creative business like a machine

Thursday, May 30th from 1:00-2:30pm on Zoom

Usually, most of us go into business to solve a problem or fill a need. We never anticipated we’d also have to be our own accountant, bookkeeper, human resources, insurance specialist, and personal assistant too! This workshop will help you set up your business to run like a machine. We’ll go deep on topics around taxes, business structure, bank accounts, etc. You know, the fun stuff :)

Craft & Commerce by ConvertKit (I'll be at this one!)

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FORGE Manufacturing Readiness Workshops

Monday, June 10th from 12:30pm-1:30pm on Zoom

In this workshop, startups are guided through the intricate steps of selecting their primary contract manufacturer, both on a technical and personal level. Through a practical case study, participants evaluate potential manufacturers, equipping themselves for real-world decision-making. Emphasizing essential communication skills pivotal in engaging with suppliers, this workshop provides startups with the necessary tools to discern and choose the ideal manufacturer tailored to their needs.

Thanks for reading!

Matt

P.S. Looking for recommendations on software or content? Check out my personal recs here.

Station

Build your bootstrapped business to $250k in revenue. Each week, I share tactics and strategies of how founders build sustainable ventures without venture capital

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