Ade in Business

I ran across a very interesting post by Philippe Chrun, who writes with much detail and honesty about his failing startup, mycarpoolstation.com:

I am quietly distancing myself from my pet project, my baby which I poured my heart and soul and mind into…. We invested 30,000 US$ of our own capital, excluding an estimated 50,000 US$ of sweat equity. With that, we built a working prototype but did not manage to get a customer-ready product out the door. No customers equals no revenues, and since we have not yet secured additional funding, we are officially stuck.

The story of a failed dot com startup with a so-so idea, an inexperienced team and weak business model is not unique. But Philippe’s transparency is refreshing, and it’s definitely worth the read for anyone who’s working on a startup.

Philippe: while the situation might be excruciatingly painful now, I’m confident that when the dust settles you’ll be sure that it was better to have failed than to have never tried at all. Best of luck on your next venture.