When to throw in the towel?

A presentation on when it might be time to give up on your startup.

Transcript

1. When to throw in
   the towel?
   Ricardo J. Méndez
   
   ricardo@samsungnext.com
   
   @argesric
   
   October 12, 2019
   

   View Slide

2. ● Technical Director @ Samsung NEXT
   ● Venture investments on software
   innovation, early stage
   ● Recovering entrepreneur
   ● Software engineer
   ● Privacy and open source advocate
   Who am I?
   

   View Slide

3. Speaking, not a speech.
   What are we talking about?
   

   View Slide

4. When to throw in the towel?
   What are we talking
   about?
   

   View Slide

5. Failure states and how to spot them.
   What are we talking about?
   

   View Slide

6. Failure is defined by what you want to
   achieve.
   What are we talking about?
   

   View Slide

7. Know what you want to achieve. 

   

   Keep going for as long as it is
   achievable.
   What are we talking about?
   

   View Slide

8. When to throw in the towel?
   Failure states
   

   View Slide

9. If it’s not running out of money, it’s
   not a startup.
   Failure states
   

   View Slide

10. “A startup is an organization formed
    to search for a repeatable and
    scalable business model.”
    Failure states
    — Steve Blank
    

    View Slide

11. ● When the market invalidates your
    premises.
    ● When you missed your window.
    ● When the timing is wrong.
    ● When you are the wrong person for
    the job.
    ● When you end up running the wrong
    kind of business.
    ● When you have commitment issues.
    ● When you are a zombie.
    When to stop
    searching?
    

    View Slide

12. Not on this list: investors passing.
    Failure states
    

    View Slide

13. When your premises are invalidated.
    Failure states
    

    View Slide

14. When you missed your window.
    Failure states
    

    View Slide

15. When the timing is wrong.
    Failure states
    

    View Slide

16. When you are the wrong person for
    the job.
    Failure states
    

    View Slide

17. When you end up running the wrong
    kind of business.
    Failure states
    

    View Slide

18. When you have commitment issues.
    Failure states
    

    View Slide

19. When you are a zombie.
    Failure states
    

    View Slide

20. When to throw in the towel?
    Anything I missed?
    Ricardo J. Méndez
    
    ricardo@samsungnext.com
    
    @argesric
    

    View Slide