20 Hard-Earned Truths About Startups
A candid look at the realities of the startup world, based on personal experience and observations.
20 hard-earned truths about startups that might make me sound cynical.
But I’m not, really.
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The startup ecosystem is a small pond full of piranhas.
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Everyone wants you to stop, friends and foes alike.
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While anyone can start up, most really shouldn't bother.
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The average startup investor is not as useful.
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99% of startup advice is worthless. That other 1% is pure gold.
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A mentor who doesn't frequently say 'I don't know' needs to be replaced.
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The supply/demand in the mentorship market is skewed.
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Mixing family and business is not a problem. The advice not to is.
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Silicon Valley is most likely not for you.
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Startups are a giant beauty pageant.
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Pitch competitions are a waste.
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You probably shouldn't be raising money.
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Startup playbooks don't work.
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Old-school business acumen > Startup growth hacks.
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Startup accelerators are rodeo shows.
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You're probably better off losing certain customers.
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Competition is overrated. Don't buy into it.
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Headcount is a vanity metric.
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Startup valuations are made-up numbers.
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Everyone writes their own story eventually.
These lessons, I learned them the hard way and lost precious time in the process.
But I wouldn’t exchange them for anything. They've made me who I am.
And yes, given the chance, I'd happily learn them all over again.