Meet Lindsey Ivie, Founder of FailedFest, who took center stage as the Featured Founder at November’s Startup Stories. Here are three lessons we learned from Ivie at the event.
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Ivie has worked with multiple startups selling their tech. Over and over again, she saw the same mistake.
“All three startups I worked for made the same mistake. They raised money, outsourced their tech, and built this beautiful MVP. But when they went to integrate it, it didn’t work. The tech fell flat on its face.”
Her advice is simple: functionality trumps aesthetics in early-stage products. “Don’t stress about making it beautiful. Just make sure it works. Get your first 10 clients, make sure it’s functioning well, and then go to market.”
Ivie also underscored the importance of having a technically skilled co-founder. “Outsourcing is a mistake. You have to know [your product] in and out. It’s worth the capital or the investment in getting your co-founder to build it in-house to make sure it’s done right, because otherwise, you’re going to have to start over.”
When it comes to building partnerships, Ivie advocates for going beyond transactional relationships to foster mutually beneficial collaboration.
“It happens all the time,” she explained. “You’re trying to convince [partners] to sell something for commission, but they’re not fully invested in it because it’s not built into their day-to-day. Naturally, they’re just not going to do it.”
For Ivie, partnerships succeed when both sides feel deeply involved. “You have to go a little bit further, a little bit deeper into strategies where it makes sense for them. It’s not just about handing them a partnership agreement and hoping they’ll sell for you.”
One of her key strategies is co-hosting events that bring mutual value. “Let’s do an event together—you bring your key clients, and we’ll bring ours,” she suggested. “You’re helping each other get in front of the right people. That kind of collaboration creates a deeper level of investment and energy from everyone involved.”
This personal, intentional approach extends to consistent relationship-building. “You’re dropping in, going to lunch with them, hopping on Zoom calls, and checking in regularly. You’re asking, ‘What can I do to add value to you?’ and in return, people naturally want to help you succeed.”
Ivie shared an example from her experience in tax strategy, where she organized intimate events to foster connections. “We did fly-fishing trips, theater nights at Hale Center, and pulled in partners like a private bank. These events were all about creating deeper relationships that felt natural and human.”
The results were clear. “We saw so many sales and introductions come out of those events because we weren’t just hosting a lunch-and-learn where you get pitched. It was personal. It made it easy for people to continue making introductions and referrals.”
“I had to shut the doors of my own company last year. It was a dark time,” Ivie shared about closing Sharehouse, a marketplace for e-commerce brands. “I disconnected from social media for four months just to process it.”
Reflecting on the emotional weight of failure, Ivie said, “This isn’t my first rodeo where I’ve had the rug pulled out from under me. [And many founders] carry a weight of, ‘I let down my family, I lost all this money, I wasted my time.’ But I think there needs to be a place to feel comfortable letting it go and just healing from our failures. So much of our identity is tied to what we’re building, and when things don’t work out, it’s devastating.”
These experiences inspired Ivie to launch FailedFest, an event designed to reframe failure and create a safe space for entrepreneurs. “Our why behind [FailedFest] is we are looking to create a way for founders to disconnect their identity from their failure. That is not who you are; you are not a failure. Maybe you shut the door, but that is not who you are.”
Beyond reframing failure, Ivie wants to foster a community where entrepreneurs feel supported in their journeys, overcome imposter syndrome, and discuss more taboo topics openly. “You’re not alone in this, and there’s strength in realizing that others have been through it too.”
By redefining failure and addressing the emotional realities of entrepreneurship, Ivie’s message is clear: failure is not the end—it’s a critical step in the path to success.
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Startup Stories by RevRoad is a monthly lunch-and-learn event for entrepreneurs, highlighting a Featured Founder who shares their entrepreneurial journey, including the highs, lows, and valuable lessons learned along the way. Check out our upcoming events, and grab your free ticket, on Eventbrite.
