HORIZONTAL PORTALS
Startupfailures.com, a Web site for dotcom flops and other busted ventures, has been drawing about 2,500 visitors a day since it was launched in May. And for good reason: Only 6 of 1,000 business plans get venture funding, and 60 percent of those go bankrupt. The site shares horror stories, lists business opportunities, and offers tips ("Your Failure Feedback"). Wired spoke with its creator, Nicholas Hall - who, at age 30, already has three startup failures under his belt.
Wired: Is failure a growth industry?
Hall: Yes. And I consider that a very positive answer. It means more people are trying.
What about your failures?
First, I tried to start up a financial services company. And then I was COO of a beverage holding company. We were gonna do the whole microbrew thing when that was all the rage. That was definitely bad timing. The last one was an Internet startup. We ran out of money. I've learned a lot of lessons.
What's the key to bouncing back?
Have a compelling vision for your life, so you don't have time to worry about yesterday. When I closed out my last startup, it took me maybe an hour to bounce back. I think there's a tendency for people to feel a bit jaded by the experience, especially if they haven't been through it as many times as someone like myself. I understand that "business failure" is not about me. But even with that perspective, at the moment you realize something you tried didn't work, it kind of sucks.
How will the site help people whose startups have tanked?
One thing we're going to do is give visitors a chance to share their failure stories, and we'll pick the best, the Failure of the Week. It lets people share what they went through, so others can get value out of that.
But what if Startupfailures.com fails?
As long as I can afford the monthly Internet maintenance, I'll keep it going. And if it fails, I'll try again. You can count on that.
MUST READ
UU-boatNet
Outgeeking Gore
The New Party Line
Productivity per Square Inch Soars!
Dot Gone
Tekka Mecca
People
Jargon Watch
622-Mbps Laser Tag
Trojan Horse Troubleshooter
Demo or Dye
The Spy Who Funded Me
The Organ Chip
Raw Data
