2 days ago
- Founders should carefully select cofounders based on character and commitment, not just ability, and must actively maintain that relationship.
- Startups completely take over your life; the constant work and thinking about the company can feel intense and time-altering.
- The emotional journey of a startup is extreme, with rapid highs and lows that can wear founders down without significant success.
- Despite challenges, startups can be deeply fulfilling and fun, offering freedom and creative work, though not for everyone.
- Persistence is more critical than intelligence; it can dissolve obstacles and is key to overcoming difficulties.
- Long-term thinking is essential as everything takes longer than expected; patience reduces stress and improves work quality.
- Success requires handling many small tasks rather than relying on a single big idea; consistency and iteration matter.
- Launch with a minimal viable product to start user conversations quickly, avoiding over-engineering.
- Engage with users early and often; their feedback can reveal valuable and unexpected insights.
- Be willing to change your idea based on feedback; flexibility in problem-space can yield better results.
- Don't overreact to competitors; execution matters more than ideas, and many perceived threats are not real.
- Acquiring users is challenging; focus on customer acquisition as a distinct effort, not just feature-building.
- Deals often fall through; assume the worst about external funding and focus on revenue.
- Investors can be clueless; impress them with confidence, but recognize their lack of deep understanding.
- Luck plays a significant role in startup success, alongside skill and determination.
- Leverage the startup community for support and opportunities; the environment encourages helpfulness.
- Founders often face a lack of respect outside the startup world, even in social situations.
- Roles evolve as the company grows, with less coding and more management; employee motivations differ from founders'.