Shutting down a startup is painful, but there’s nothing to be ashamed of as long as you learn from the experience, writes Poornima Vijayashanker, who recently closed down a company called BizeeBee. “The truth is customers will find alternatives to use, your investors will find other founders to fund, and your employees will have learned, grown, and become even more valuable to a new employer,” she commented during an interview with Alen Brandman.
Nathan Carey, founder of ProYo, says one of the biggest challenges associated with leading a startup is figuring out how to act and grow quickly without crashing the enterprise. “You obviously can’t go slow; you’ve got to go at a pretty decent speed in order not to get passed up by the big companies,” he said in his talk with Alen Brandman.
So-called vanity metrics can be useful for attracting investors and building buzz, but they won’t help you improve your business, said Lloyd Tabb, founder of Looker, in his interview with Alen Brandman. On the other hand, “clarity metrics,” which focus on factors such as customer behavior over time while using your product, can point the way toward a better future.