My 4th Startup failed and lost millions of my own
Those days I told everyone that I am building Unicorn
When we did ₹100 crores(₹Billion)in sales our first year.
I thought it is easy to make unicorn.
As an Angel Investor I Invested in 30+ startups.
But I could not ask for my startup,Thats my weakness
My first 3 startups had multi million dollar exits but 4th time I failed to make it big as I dreamed
I could never raise from external investors.
Invested my own millions in 4th startup But our competition raised 10 times
I use to get excited on GMV while losing millions in
bottom line
It was foolish to focus on wrong metric GMV and
realised later
It became clear without external funding we can’t make big.
I was not good at raising so I had to find alternatives.
We changed Business model to become positive
cashflows and we did.
Rather than feeling as I failed considering as lessons
learned.
Those lessons probably worth more than millions I invested.
My Two cents:
Just focus on your business try to create best unit
economics with profit. Unit level bottomline is important. Learn to ask,When you show investors you can multiply money then you got magic wand in your hand that creates FOMO in Investors mind.