I have come across several occasions where people have often asked “Is it okay to mention my failed startup on my resume?” People often make the mistake of assuming that a failure might have a negative impact on the recruiters. What they fail to understand is that a gap in the career path would give a much more negative impression than a failed attempt.
Even if you have failed in a start-up, you should never shy away from mentioning it on your resume. You may approach a professional resume writer for advice, but I am pretty sure that you would get the same suggestion. By mentioning the failed start-up, you are giving adequate reasons to explain the gap in your service employment. Recruiters find this to be of utmost importance as they appreciate the genuine efforts of a person.
The trick to communicate the failure in a constructive manner is to present the reasons for the failure in an introspective manner which would demonstrate a great deal of self-awareness, insight, and humility. If you simply mention the failure without adequate reasons, then it would indicate that you are an incompetent start-up founder. This would make the recruiters hesitant towards selecting you for the position as your incompetence could result in more failures.
Start-ups may fail for several reasons and it may not be your fault all the time. Usually, the path for a new business venture is rather uncertain and a lot depends on timing and market readiness. For example, if you try to remember the market conditions prevailing during the initial stages of the growth of the ecommerce environment, there were many businesses which did not make it.
The reason behind the failure was that the market was just not ready for online shopping with major concerns being related to the security of the transactions and safety of personal information. Today, ecommerce has become an integral part of our lives and this is the reason behind the immense growth of brands like Myntra, Jabong, Lenskart, etc. Ecommerce is the choice of business in the current scenario.
Unless you are good with words and are able to present your situation in a constructive manner with key learnings mentioned in the resume, it would be a good idea to get it prepared by a professional resume writer. This would reduce the risks that you would be exposed to. It is important to mention the learnings from the failure and the steps that you would take to avoid the development of such circumstances in future. So make sure you cover all the essential points and then send in your resume to recruiters for reviewing.