Hi everyone,
As you can probably tell from the title, I'm one of the cofounders of a VC backed startup. I've been working on this startup for about three and a half years, but we've pivoted a couple of times and have been working on this particular iteration for about two of those years.
In that time we've raised about $10m, have about $7m left in the bank, and are a team of about 15. We are making basically zero revenue (a rounding error amount), and almost for the whole of the three years that has been the case. I find my cofounder very hard to work with at this point - for a variety of reasons.
I feel very tired, and it has been a huge slog to get this latest version of the product out and I have little confidence it will meaningfully impact the metrics that matter i.e. revenue and retention.
But at the same time, I know that I want to build another startup.
Does anyone have any good mental models for how I should think about whether or not to stay at this startup any longer? I feel a sense of obligation to our team, and obviously we have a reasonable amount of cash in the bank (investors want us to return this), and I feel obviously worried about leaving without a clear plan on what to do next.
Would appreciate any thoughts!
Thanks!