The Business of Engineering podcast is a monthly round table discussion in which startup leaders and entrepreneurs discuss various issues related to working in the tech and electronics market. This is the discussion thread for Episode Seven - Learning From Failure
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Episode Summary
Every startup business reaches a point when the best laid plans go awry. Sometimes it may be possible to recover, but on other occasions the only course of action is to admit defeat and re-strategise. But when you've spent months or years building your tech company from scratch, accepting that your enterprise has reached a point of no return can be incredibly tough. On this episode of the Business of Engineering podcast, we talk to entrepreneurs about their experiences of pivoting, rebuilding and achieving success from the ashes of a perceived failure.
Contributors to this episode are: Daniel Burton - Acceleration Manager at the Natwest Business Accelerator, a program that enables entrepreneurs across the UK to reach their full potential through coaching, mentoring and one-to-one support. Bradley Jensen - Director of For Fork Sake, an online dining community that drives traffic into restaurants on a discount discovery basis. Tia Roqaa - Founder of Roccabox, a subscription-based online beauty box service that allows customers to access regular product samples carefully selected by industry insiders.
Contributors
Daniel Burton
Acceleration Manager at the Natwest Business Accelerator, a program that enables entrepreneurs across the UK to reach their full potential through coaching, mentoring and one-to-one support.
Bradley Jensen
Director of For Fork Sake, an online dining community that drives traffic into restaurants on a discount discovery basis.
Tia Roqaa
Founder of Roccabox, a subscription-based online beauty box service that allows customers to access regular product samples carefully selected by industry insiders.
Mark Walsh
Founder & CEO at KwizzBit, an interactive trivia platform played and operated using a smart phone or Internet enabled device in real time, for seamless interactive entertainment in pubs and other social venues.
Talking points addressed in this episode...
- Introductions [0.00]
- What happens when a business fails [2.00]
- Finding support from your local eco-system [19.30]
- Retaining talent during a crisis [28.00]
- The recovery phase - narrowing focus and visualising the end goal [33.00]
- Red flags and recognising when to cut your losses [38.00]
- Turning a pivot into a positive. [47.00]
Have you experienced any of the issues discussed in this episode? Share your thoughts, questions for our guest contributors and any feedback you might have in the comments section below.
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