Having worked at a startup out of college and invested in startups as a vc since 2002, there has never been a better time to start a company than today. At the same time, there has never been a harder time to focus on what it takes to truly build a world-class team and product.
From day one, every team must learn to cut through the noise of the industry and discern what is truly awesome (people! product! potential!) from those telling you how awesome you are (because they want something from you).
Imagine the world of the early internet days, where founders were building companies without the noise of social media constantly swirling around them (gasp!). Startups had to prove themselves almost entirely on their financial statements alone. Ah the good ole’ days…
“Success” today can mask itself in many ways. Twitter presence and followers can exude massive product demand while actual growth can look much different. User downloads in consumer-facing companies mean little if the DAUs aren’t there. Startups can hide under the clout of investing vcs, and just because a team raises institutional capital doesn’t suddenly put them in the promised land.
The founders that stick out are the ones that don’t stick out:
- Their time is better spent coding or building their business than constant tweeting or blogging.
- They stay focused on small list of things and say no often.
- Fundraising is a nuisance rather than a drama-filled mini-series that never ends.
- An evening is better spent with their friends or spouses/kids than off at yet another startup gathering.
- They stay true to their gut on product and company vision, and not let the industry sway them into what they should be building. Product should emit responses of “that’s crazy” and “not sure about that” more than “that’s awesome!” As my friend Paul Singh recently tweeted:
You can’t build a strong cornerstone without cutting some rock. Put your head down and build a world-changing company, and try to ignore the riff-raff as best as you can. You will never be able to prove yourself to others (others always want more), but inwardly you can prove yourself daily. And that’s what matters in the end.
Recipients of this post are not to construe it as investment, legal, or tax advice, and it is not intended to provide the basis for any evaluation of an investment in any fund. Prospective investors should consult with their own legal, investment, tax, accounting, and other advisors to determine the potential benefits, burdens, and risks associated with making an investment in any fund.
