Upstarts | Life After Startup

Welcome & Introduction

Hello!

I am a recovering founder writing about my time in the startup ecosystem. I would love to hear from other founders that did not have the ending they hoped for when they launched. From my own experience, I know this is a difficult subject. Information gathered from this survey may appear in content on the Upstarts website, in a book project with the working title "Upstarts: Founders, Failure, and the Startup Paradox" and related publications and broadcasts.

Your story is important. If you would like to connect with me directly, please send me an email. Thank you for participating: the survey should not take more than five minutes. It is anonymous, unless you choose to share your email address for follow-up conversation.

Thank you!

Kara

Question Title

* 1. What is the current status of your startup?

In the process of closing

Closed in the last 24 months

Closed more than two years ago

In the process of selling

Sold in the last 24 months

Sold more than two years ago

Still active

Other (please specify)

Question Title

* 2. Why did you start your business? (Check up to 2)

There was a problem I thought I could solve.

I had a cool technology that I wanted to bring to the market.

There was a gap in service I thought I could fill.

Someone approached me to get involved and I jumped in.

None of the above

Other (please specify)

Question Title

* 3. Please indicate which off the following factors informed your decision to leave your business? Check all that apply.

We needed more investment and could not find investors.

We ran out of runway and decided not to seek further investment.

The business was not profitable.

There were issues with the partners.

I did not have partners.

I did not have the right partners.

I had a hard time recruiting and retaining employees.

Supply chain issues.

Impacts from COVID-19 or other external factors.

There was not a market for the idea.

We were not able to reach our market.

There was too much competition.

We grew too quickly.

We could not grow more.

Poor execution.

Bad timing.

Needed a mentor.

Focused too much on fundraising and not enough on the business.

Is there another reason not included in the Upstarts list? Please describe.

Question Title

* 4. Are you able to describe the most significant things you learned from the start-up experience?

Yes

No, I am still reflecting

Please describe your most important take-aways from this business experience.

Question Title

* 5. Please describe the business sector in which you operated. You may choose multiple responses if there is overlap.

Technology

Health & Wellness

Education

Arts, Culture, Entertainment

Media

Environment

Professional Services

Retail

Hospitality

Construction

Automotive

Financial Services

Manufacturing

Other (please specify)

Question Title

* 6. How was your business financed? (check all that apply)

Bootstrapped

Self-financed

Grants

Friends and Family Investment

Strategic Partners

Outside Investment

Personal Loans

Business Loans

If you had to do it over again, knowing how things played out, would you take the same approach? Why or why not?

Question Title

* 7. What did you find most difficult about closing or selling your business? Please identify the top three (3) reasons.

Feeling of failure, embarrassment

Letting employees go

Giving up on an idea I believed in

Financial losses

Telling investors

Telling clients/partners

Telling friends and family

None of the above

Please elaborate on your answers.

Question Title

* 8. How involved were you with the start-up ecosystem?

Very involved, I participated in things like pitch competitions, incubators and accelerators

Somewhat involved

Not involved at all

If you had to do it over again, would you take the same approach? Why or why not?

Question Title

* 9. What are you doing now for work?

I have taken a full time job

I have taken a part time job and continue to work at side hustles

I am a consultant

I have retired

I am working on another start-up full time

I am working for another start-up full time

Would you consider starting another business? Why or why not?

Question Title

* 10. Thank you for your participation. Would you be open to a phone interview?

Yes

Maybe

If "yes" or "maybe" please provide your email address and your country of residence.