I’ve been trying to understand the most raw, basic, lowest common denominators about startups since January 2010.
I’ve done a lot of reading between then and now, I’ve learned a lot in the process and I keep learning every day.
Those types of underpinning principles, that once understood, you can really start thinking on your two feet.
Well, it all came together nicely after I started the “How to Start a Startup Course”.
Last July I wrote about why build a startup, especially if you can’t write code.
The best reason to start a startup is because you know the world needs what your service or product will deliver and therefore you can’t not do it.
Furthermore, you should be the best, most qualified person to do this ‘for the sake of the world’, otherwise you’d be better off leaving the right person to execute on the idea instead of you, even if it means for you not doing that particular startup altogether. If you outcompete the individuals who are better suited to the task, you are essentially shortchanging the world of the benefits it would receive from having that team who can best deliver.
Doing a startup is really hard and will require an unbalanced life while you build it. You will need drive, passion, obsession, tenacity and resilience in order to suffer through the process and assemble and lead the team that will execute at a high level and ultimately win against all odds. It will likely take 5 years out of your life if you fail, and more like 10 if you succeed.
Employee #100 at Facebook has made $200,000,000 — more than 80% of startups founders have ever made at a successful exit.