Ask YC: Advice on shutting down startup

Re:Ask YC: Advice on shutting down startup by robotrout on Friday December 25, 2009 @12:08AM (#1014772)

First, you need to write up a post for HN, detailing what niche it was that you were trying to fill, some of the obstacles you overcame, and why you think you failed. It will be educational for you to do it, and for us to read it.

Second, I think you just pull the plug. You can put an announcement on your homepage, giving your users notice, and email them, as well, if you have their emails. You could even send them the post detailing your journey and why it is ending, to give them a bit of a feeling of closure, and not feeling just left out in the cold.

Take the code. A lot of that back end stuff that you've written, you'll build off of for your next site.

Good luck in your next venture. 2010 could be your year.

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Re:Ask YC: Advice on shutting down startup by prashantdesale on Friday December 25, 2009 @01:34AM (#1014816)

Certainly.. I do plan to write all my experience on what we were trying to do, what went wrong and what I myself will correct when I build next startup.

About pulling the plug, We are thinking around couple of months process. Like putting announcement as you suggested, and informing users and then pulling the plug.

Thanks

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Re:Ask YC: Advice on shutting down startup by jmathai on Friday December 25, 2009 @01:09AM (#1014806)

Couldn't agree more. It is a fine line but start ups both require you to stick out the tough times but also know when to walk away. Definitely communicate with your users and don't drag it out. Reflect on what went right and wrong and use that at your next start up.

We wasted a lot of time because we knew our technology was worth something. In hindsight I wish we didn't drag it out. Weigh you options and make the best decision you can and don't look back.

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