Retirement is a beautiful lie we Founders tell ourselves.
We fantasize about one day selling our startup, retiring, and living this gifted life that makes all of our sacrifices worthwhile. We see this perfect existence that was only constrained by the shackles of our work and the drudgery that was our startup.
Yet it turns out while it may be a fantasy for us, many enterprising Founders before us have actually playtested this fantasy for real. As it happens, nearly all of us develop some version of the same fantasy and later on come to the same (much more sober) reality.
It turns out, it's really easy to tell ourselves what we're going to do when we retire, but actually doing any of that stuff is harder than building the startup it took to ...
The worst advice Founders get consistently comes from their hometown.
I call these the "local yocals" and every hometown has them. They are well-meaning advisors who try to guide a Founder through the startup stages but instead fill their head with irrelevant, outdated, and in many cases straight-up bad advice.
Every single time I talk to a Founder that's been clearly led astray, I ask where they got that advice. And in almost every case, it's from someone that simply isn't relevant to the startup ecosystem. It's their well-meaning uncle who made a boatload of money in commercial real estate, or a local angel investor who has no idea who YCombinator is, or the "startup guru" who had the one exit in town but has never left the state.
From a ...
What if I told you that you and your startup have all the time in the world to do what you need to do?
Perhaps you'd exclaim "Heretic! How dare you question the gods of startup urgency and scale!"
Yes, yes, I know. Time is our enemy and it's slipping through our fingers by the second. If we don't get done by this date, we're all doomed. But is that actually true?
What if instead of assuming that time is running out and killing ourselves to beat the clock we tested those assumptions to determine how much time we actually have? What if we actually had a ton of time?
"Good hell, I'm almost 30! If I don't get this startup scaled and sold, what will possibly become of my life?" No matter what stage we're at in our life, we a...
Sometimes the biggest financial startup success comes one paycheck at a time.
In our startup ecosystem, we've become infatuated with the concept that in order to be a successful startup we've got to have some massive IPO or sale. We sometimes forget that 99% of startups actually don't have that outcome and those people are buying Ferraris just the same.
The way most startups get rich isn't by that fairy tale exit (those are awesome BTW!) but by chipping away at growth and financial outcome over a longer period of time that gets them to the same outcome.
Imagine we've got two different paths toward creating our financial success. We're all pretty familiar with the first one, which is "digging a hole" beca...
Faking it as a startup is pretty much what being a startup is all about.
As first-time Founders, we just don't realize that it's the norm. Instead, we worry ourselves about not being a big enough company, not having a full staff, or not having a proven product.
Well, guess what? If we're just starting out, we fake everything!
"But wait, won't people find out that all we have right now is a cheap landing page that my cousin created and just a couple of products available?"
Yes, and they generally won't care. When is the last time you deliberated on the corporate structure of a company before making a purchase? Probably never. Most customers assume there is some level of functionality and deliverability in our product becaus...
Founders don't get the luxury of sharing openly — at least not without consequences.
Unfortunately, we learn this lesson the hard way, from acting and sharing like we used to do as an employee, only to find out that Founders don't get the same "safe space" we once enjoyed as employees.
Our startups are now a complex web of relationships, responsibilities and again, consequences that we need to understand and respect every time we're about to open our mouths about, well, anything.
When we were in our last job as an employee, we didn't really understand consequences the way we do now. If we got really pissed about something a co-worker did, we could hop on a Slack chat or if we were really clueless about this stuff,...
I have a confession — I am in a very unhealthy relationship... with my work.
Here's the thing — I absolutely love my job. I get to sit around and bullshit with Founders all day. This is my dream job, by design. We're normally conditioned to believe that our jobs are some sort of liability that we should try to escape from whenever possible. We want to retire so we don't have to work anymore. I think of not doing my job as Michael Jordan would have thought about no longer playing basketball — it's not how I'm built.
But over time this obsession has created some brutally bad habits that have become a massive liability later in life. Fortunately, I know there are many other Founders dealing with the same issues (because I talk to them all the ...
Being a startup shouldn't be a goal, it should be a milestone we're doing everything to get beyond.
As it happens, a "startup" is just the formative years of our existence. And while the term itself is rife with excitement, it really masks our true ambition which is to become a plain ol' "company" without the "startup" in front of it.
It's perfectly fine for us to revel in our startup years, but in the back of our minds, as Founders, we should be thinking "How quickly can I stop being a startup?" and work our tails off to drop that title as soon as possible.
To be fair, being labeled a "startup" is sexy as hell at first. We're associated with wildly important terms like "growth," "opportunity," and "big outcomes...
Competition tends to be a distraction that's 100 feet taller than the reality.
As startup Founders, we've all had that moment when we thought our very existence was going to end because some competitor made some announcement that would crush us. We worry constantly that we're going to "lose to our competition" when in fact who we really lose to is our customer, and by way of that, our own product.
We need to rethink how competition really affects us, or in many cases, sorta doesn't.
We have this mentality that one company, whether it's ours or our competitors, will "dominate" the market and take all of the market share. We will be insane and penniless wondering how we ever succumbed to that evil genius and their ...
A war cannot be won on two fronts — especially if you're a startup Founder.
When I talk to Founders, I often ask them, "OK, so things are tough at work — what are they like at home?" and it surprises them. First, it surprises them because it's a very personal question. Then, it surprises them because they realize why I'm asking.
I ask because I care about them as a person, and I know if they are fighting a war at work (aren't we all?) the only way to make it much worse is to go home to an equal or greater fight.
Our support at home is our greatest strength or Achilles Heel depending on what we have going on — and boy, do we all have a lot going on when it comes to our home life.
I think of everything like a video...