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Founder's Journal

Failure is Part of the Journey

Founder's Journal

Morning Brew

Entrepreneurship, Careers, Business

4.8 • 1.1K Ratings

🗓️ 26 June 2023

⏱️ 19 minutes

🧾️ Download transcript

Summary

Episode 07: Clock it. It’s time to lay The Plunge to rest. Alex Lieberman (@businessbarista) closes the books on the backyard plunger game. Any entrepreneur knows, it’s not easy making the tough decision to end a business. You end up questioning your ability, your confidence, and your vision. But Alex is here to walk you through all of it and why it shouldn’t discourage you from your next venture. Timestamps: (01:54): When is it the right time to quit? (05:20): Why didn’t The Plunge work (09:52: What are the next moves? (13:59): Lessons learned from this experience Send us an email and let us know what you think of the idea! foundersjournal@morningbrew.com #FoundersJournal #Startups #Entrepreneur Listen to Founder’s Journal here: https://link.chtbl.com/OV4W93_W Watch Founder’s Journal here: https://www.youtube.com/@FoundersJournal/ Subscribe to Morning Brew! Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! Instagram - https://www.instagram.com/morningbrew/ Twitter - https://twitter.com/MorningBrew Tik Tok - https://www.tiktok.com/@morningbrew Follow Alex! Alex Lieberman (@businessbarista) Learn more about Shopify here: https://shopify.com/crazyones Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

What's up everyone? Welcome to another episode of Founders Journal.

0:04.1

First of all, I want to give a shout out to the literally hundreds of you that have emailed me.

0:09.3

I'm currently looking at just a swath of emails and I'm thinking to myself how awesome this is,

0:15.5

but also I may have made a terrible mistake because I probably have about 12 hours of replies

0:21.6

that I'm going to need to get to, but I don't care. It is so awesome to see so many of you

0:26.7

getting value from Founders Journal. Before we hop into the show, I just want to give a shout out to

0:32.0

a few random names that I'm looking at right now. I'm literally scrolling through Gmail and I'm

0:37.3

looking at David T. JD, Erica H. courtesy, Yoni L. Nathaniel B. Deborah H. and Michael L.

0:47.7

Thank you all so much for writing in and look out for an email from me very soon. Also,

0:53.2

if you aren't one of the hundreds of people that emailed me, what are you doing? Don't put it off

0:58.0

any longer. Just go for it. Shoot me an email at Alex at MorningBrew.com. Just say what's up,

1:03.6

and I will get the conversation going with you. I would love to learn more about my listeners

1:08.0

and also what topics you want to hear me talk about moving forward. Okay, now it's time for the show.

1:14.0

Today on Founders Journal, I am talking about closing one of my businesses. That's right, it failed.

1:21.6

Let's hop into it.

1:31.4

Every startup loves that sweet sound of cold hard cash, especially when you start to hear it

1:37.5

more and more and more. But the safest spot to put all those Benjamin's, that can be a tricky question.

1:44.4

Have no fear. Mercury offers secure banking through a user-friendly product experience that

1:50.1

innovates alongside all your smart moves so you can ensure your hard-earned cash stays safe,

1:55.7

secure, and in the right place. Through partner banks and their sweep networks,

2:00.5

Mercury customers can access up to $5 million in FDIC insurance. That's 20x the per-bank limit.

2:08.6

Sweep networks. What now? Glad you asked. These networks protect your deposits by spreading them

...

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