Show notes
Are you working yourself into the ground without making much progress, if any?In this episode of the Startup Therapy Podcast, Wil Schroter & Elliot Schneier break down the failure of their company AffordIt, what actually happens when you run out of VC money, and when you should drop the ego & focus on doing what’s best for your mental health instead.Listen in to hear what our VC’s did when we ran out of money!Episode Resources:Send us your questions - [email protected] up for the Startups Newsletter - https://www.startups.com/newsletterWhat To Listen For:[00:00:12] - Welcome Elliot![00:01:12] - The failure of AffordIt[00:02:42] - What happens when you run out of money from your captial raise?[00:05:19] - Obtaining VC in hard economic times[00:07:35] - What happens if you take on investors and don't become a unicorn?[00:10:12] - How to fail gracefully & maintain relationships[00:11:12] - Is it the investor's job to call when to fold the business?[00:13:08] - What we wished our investors would have done[00:15:35] - The importance of mental health in leadership and why no one cared at the time[00:18:04] - If investors won't advise you in critical moments, who will?[00:22:34] - The group that shatters your ego as a Founder the most[00:28:12] - AffordIt's breaking point[00:31:10] - The perfect person to tell you you're done[00:32:32] - Not sure if it's time for you to fold the tents or have a question? Email us at [email protected][00:36:57] - You don't have to run out of money to fold the tent