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The best moment of my 5 yrs of startup life was not when we raised VC funding or launched the product.
The best and the most memorable moment was just after we shut down the company.
Yes, it sounds counter-intuitive. But here is the story
The best and the most memorable moment was just after we shut down the company.
Yes, it sounds counter-intuitive. But here is the story
1/
Sometime in Sept 2016, we sent a candid mail (snapshot attached) to our customers that we are shutting down our business owing to unfavorable unit economics.
And then, the unexpected happened!
Sometime in Sept 2016, we sent a candid mail (snapshot attached) to our customers that we are shutting down our business owing to unfavorable unit economics.
And then, the unexpected happened!
2/
The response we got from our customers was overwhelming. Within a week, we received 400+ emails from our customers, literally begging us not to shut down, telling us how our service was a life savior for them. Some even canceled their plans to buy washing machine.
The response we got from our customers was overwhelming. Within a week, we received 400+ emails from our customers, literally begging us not to shut down, telling us how our service was a life savior for them. Some even canceled their plans to buy washing machine.
3/
Most of them express sadness that we no longer will be able to service them. Some even suggested us to increase our prices. It was unbelievable for us to see emotions pouring out from the customers. I still get goosebumps after reading these emails. They just lift me up.
Most of them express sadness that we no longer will be able to service them. Some even suggested us to increase our prices. It was unbelievable for us to see emotions pouring out from the customers. I still get goosebumps after reading these emails. They just lift me up.
4/
Unexpectedly, some even apologized for being an unethical customer for misusing our discounts. I have never seen such empathy from customers for utility businesses.
Unexpectedly, some even apologized for being an unethical customer for misusing our discounts. I have never seen such empathy from customers for utility businesses.
5/ Those emails taught me a great lesson - the single most real reason why one should start a company is to solve customer's problems and make their life better. For whatever scale and for whatever time-period you are able to achieve it. It is worth it.
