Long after our startup is done, no matter what the outcome, our Founder reputations will live on.
And for many of us, that could actually present a real problem.
Unlike our resumes, which present essentially one dimension of our lives (our job performance), our Founder Reputation is built on how our performance affects so many people — employees, investors, customers, the media, and even our personal relationships.
From the get-go, we have two huge obstacles working against creating a great reputation.
First, we're about to build an organization that will likely (statistically) fail. It's sort of hard to build a winning reputation on the back of a potential failure that could result in the loss of job...
Decoupling startup stress from our "regular life" is one of the biggest challenges we deal with as Founders. Running a startup isn't like working at a job. The startup is a part of who we are, so our stress feels like it's imprinted into our very DNA.
Yet, at the same time, if we can't decouple our startup stress and our home lives, we risk destroying both. What we need is an actual strategy for freeing up our minds so that we can actually enjoy both sides of our lives.
As Founders, we are awesome at attacking problems all day long at our startups. So why is it that we never isolate the problem of our "take-home stress" and attack it with the same intensity?
The first step is to isolate the problem as an actua...
You don’t have to have an original idea for a startup. Original ideas are difficult. And unproven. What if you find a business model that you like, and improve upon it?
I’ve heard it a couple times since, but once I was listening to some podcast and someone said to do “R&D… rip off and duplicate.” Oh the hilarity, right? Usually R&D means research and development, but instead, this guy was talking about copying someone else’s work.
It’s fine to do that. And it happens all the time.
Don’t let the business model already existing out there stop you from creating a similar business of your own.
As Founders, we spend an inordinate amount of time setting and pursuing goals, yet the ones that truly matter — the ones that affect us personally — are often amorphous. If we're spending every waking moment working toward a goal, it stands to reason that our goals should have an insane amount of fidelity.
If you ask a startup Founder what their goals for the startup are, they may say something like "To sell for a billion dollars!" But that's a pointless goal unless that Founder needs exactly a billion dollars (or their percentage of it) to achieve their goals. Also, if you have a plan for spending a billion dollars please call me - I want to hang out.
A better goal would be "I need $281,520 to pay off my ...
For over 10 years, I lived simultaneously in Columbus, Ohio as well as Santa Monica, San Francisco, and Beverly Hills (don't ask), working in both locations and being very active in the local ecosystems. My family and I were on a plane every 3 weeks for almost 5 years.
A lot of people pontificate on whether a bigger city is better for a startup (and the Founder) but I actually tested it across 4 different startups, raising a family, and genuinely trying to enjoy the best of every city. Here's my take:
While living in LA and SF I met with over 1,000 Founders, more than most people will meet in a city they were actually born in. Big cities naturally attract the most ambitious people, so it's so much easi...
Last week I had a great conversation with a Startups.com employee who was leaving to join another company. During the conversation I repeated the same thing I've told hundreds of departed employees, "This isn't the last time we'll work together, so while I'm sad to see you leave, I'm pumped to team up again later."
Why would we tell someone that's leaving how excited we are to be working together in the future? Because if we've been in this game long enough, we realize how many of those relationships do in fact come around again... and again... and again.
As Founders, especially veteran ones, we begin to learn that every single person we work with is part of a larger "workforce" of future hires that becomes some of our most reliable talent...
What if we defined success by what we DON'T have to do anymore?
What if we didn't have to work with people we don't like? What if we never had to miss dinner with our kids? What if we never had to think twice about taking a vacation?
Does this sound like startup Shangri-la? I thought so, too, until 8 years ago. I decided to build Startups.com based on everything I never wanted to do again.
It fundamentally changed my life.
It turns out that making a list of things we don't want to ever do is actually much easier than a list of things we are trying to accomplish.
That's because saying "no" is more immediate. We can say, "I'll take more vacations when I'm really rich" (the "someday" paradox), or we can say,...
Would you rather make $200K with a shitty quality of life or $100K with an awesome quality of life?
In the startup world we all seem to understand that $200K is better than $100K, but we do a really lousy job of qualifying that difference based on what actually matters — our quality of life.
When we step back for a second, we may come to find out that "compensation" in strictly monetary terms, is a broken metric. We're all really trying to translate those dollar signs into how it will impact our quality of life.
So why don't we just start with what improves our quality of life and then figure out where money comes in?
Years ago at Startups.com, we instituted a work from home policy. At the time we were all sti...
8 years ago I decided that whatever startup I was going to launch would be the last startup I ever did.
I made this decision after launching 8 startups and realizing that creating a company as a "means to an end" was a shitty way for me to live.
I found myself in this constant cycle of being wildly preoccupied by "the next thing." Raising money for my startup was a means to a quicker exit. Killing myself meant I could finish this chapter faster, more successfully.
I had endless justifications for compromising my life because I could always "make it up later."
This time around I decided to change it up.
I asked myself, "What if I picked what I wanted to do for the rest of my life NOW?" So instead of maki...
There's an incredible amount of magic in having very little time to get things done.
That's why at Startups.com, with over 200+ people, we manage our entire workload based on what we plan on getting done by Friday. That's it. No long term planning sessions, no confusing Gantt charts or Trello boards. Just 5 days to get stuff done.
And damn it's effective.
The problem with creating longer planning cycles is that every additional day, week, or month decreases the visibility and accountability for a single day of work. Our focus needs to be reducing the amount of time we can cheat on our time.
Imagine we wanted to lose 10 pounds this year. At lunch, we can order a cheeseburger, because hey, we have all year t...