Startup Success Series: Winding Down your Startup
In LaunchVic’s Ecosystem Mapping Report, they shared that founders with previous experience of starting a company are more likely to be successful, with around half of Victorian entrepreneurs falling into this category. Only 1 in 12 entrepreneurs are successful in achieving their goal of setting up a successful business – failure and multiple attempts are simply a part of many founder’s journeys.
This begs the question – if you’re not seeing the success you had hoped for, should you wind down your startup? It can be incredibly difficult to know when it’s time to kill your startup, and on top of that even harder to do so gracefully. For many early-stage founders, their startup is a labour of love – it can be as difficult emotionally as it can be logistically.
That’s why for this edition of the Startup Success Series, we’re speaking with expert panellists on winding down your startup.
Specifically, we’ll aim to cover:
- What are the signs you should wind down?
- How to think about failure.
- How to close your business gracefully if your startup is failing.
- What’s involved in winding down a business and what your options might be.
- What can go wrong if you don’t have a wind down plan?
- Important considerations you should keep in mind (legal, investor relationships, employee communications, etc.)
- What new pathways might exist once you’ve exited your startup.
The session will be run as a virtual fireside chat. There will be time allocated for participant Q&A and resources will be shared on the Startup Victoria website after the event.
The first 100 tickets are free of charge.