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Harris Cheng

💔 What's your worst ever experience as a founder?

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I've been a startup founder for 7 years.🙌🏻 The worst moment I've been through was a potential acquirer ditching the deal at the last minute. I went full-time working on this deal for 6 months. ✅ 50+ confidential docs (e.g traction, strategies) for DD submitted. ✅ 20+ meetings took place. ✅ Term sheets signed. ✅ Lawyers hired. ✅ $ structure and shareholder distribution - all settled. They ditched at the last minute and even said something very disrespectful. Feel free to share yours! Love to collect more stories and learnings🙌🏻

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Jacob Gonzales
my most challenging moment was when our lead investor pulled out after months of negotiations, leaving us in a precarious financial situation and forcing us to bootstrap, renegotiate contracts, and rethink our entire business strategy, while managing the morale of the team amidst this setback.
Harris Cheng
@jacob_gonzo5 I know that feel. What I've learned from a similar experience is that traction judges founders' destiny. When momentum goes off, everything just don't fall into place. But this is also what distinguishes between good and great founders.
Harris Cheng
I'm still gutted today. But hey, that's the tipping point that changed me as a founder who is more humble and with more empathy.💫 I'm proud that I've gone through it, stand back up, and above all, I think I'm now a better human being💛