Why I Quit My Job to Launch a Startup, Failed and Would Do it All Again

StartupNation

Why I Quit My Job to Launch a Startup, Failed and Would Do it All Again

My plan was to launch a startup and make a load of cash. Here’s how the past 12 months unfolded, along with five big lessons I learned along the way.

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Kyle Gantzer

Really excellent piece, Liam. Your point about stop loss is SO important. Startups are started on a hope and a prayer and so for many founders the calculation to quit can seem like giving up on hope (a much more profound decision than a simple stop loss). I would love to read more of your thoughts -- especially about how you would do things differently if you were to make the leap again.

Liam Kelly

Excellent post with lots of fantastic advice for aspiring entrepreneurs.

Liam Smith

Kyle Gantzer said:

I would love to read more of your thoughts -- especially about how you would do things differently if you were to make the leap again.

Thanks Kyle I'm in the process of living the sequel! The main thing I'm planning to do differently is to maintain a fairly regular income to live on and invest in my future, and use what I can afford to explore and test entrepreneurial pursuits - outsourcing as much as makes sense to avoid burning out.

Liam Smith

Liam Kelly said:

Excellent post with lots of fantastic advice for aspiring entrepreneurs.

Thanks Liam!

nmeck

Excellent post Liam i'd be keen to know what forum you found?

Liam Smith

nmeck said:

Excellent post Liam i'd be keen to know what forum you found?

Thanks nmeck. In reality, there was a number of forums, books, websites and Facebook groups. If I had to pick two, I'd recommend the Warrior Forum (http://www.warriorforum.com/) - it's great for internet marketing newbies and has loads of people ready to lend a hand - and Russell Brunson's Expert Secrets book for an awesome perspective on branding, marketing and storytelling.