Founders’ Journeys, In Retrospect

What do you get when you put four diverse founders together, each edging success in distinct spaces — education, fashion, marketing and solar energy?
One word: Inspired.
I often organize and moderate events in and around Boston among the AR/VR, product and music-tech spaces. But as the 2017–18 Program Leader for Boston’s Startup Leadership Program, this event dared to be different. To be bolder.
Having founders dish their secrets, hacks, and experiences during their first day, first week, first month and first quarter during their startup journey was as riveting for the audience as it was for me.
For me, balancing the desire to challenge the status quo with a practical evaluation strategy leads to better ideas and finer execution. And that’s just what we heard echoed at the event.
I’ve shared a few of the key takeaways that resonate below.
Panelists
Svetlana Dotsenko of Adian |Lauren Hoehlein Joseph of http://rivitor.com/ | JamesWbowen of https://www.energeticinsurance.com/ | Ashish Garg of http://www.eltropy.com/

8 Key Takeaways
- Before you dive 100% into your startup, have a side hustle because that will help smooth out the bumps of the startup journey
- Beg, borrow or steal — do what it takes to succeed and never give up
- Having a co-founder is a lot like a marriage. Moreover, your co-founder’s partner must be on board too
- Don’t worry about the company name too much; you can change it later.
- Build bridges; don’t burn them
- Be comfortable being a C student in most areas and A student in a few areas
- Seek mentor relationships with those who have done it before, and well
- Keep your competitors close, but your pulse on the changing government and regulatory interests closer
How do you transition from corporate to startup?
Slow and Steady
For two of the four panelists, their shift from corporate to entrepreneurship was more measured. They kept their day jobs, and:
- Asked people to validate their idea;
- Iterated an idea or service;
- Got paid for consulting projects; and
- Attended conferences and pitched their idea.
Growing and Feeding Ideas
Ideas are like babies (just kidding). But, they do require careful planning and nurturing. You might have the desire to work on dozens of ideas, but you might only be able to bring one to fruition. Keeping focused, and on track, is paramount.
Pro Tip 1: Follow trends in your current work
Pro Tip 2: Know your passions to avoid distractions
Pro Tip 3: Select based on market and product fit
What’s In a Name?
SO MUCH emphasis is placed on nomenclature. Naming your company is important, but so is naming your product and brand strategy.
One must consider: how does it represent the values I want to convey about my ideas, my product? Will it be recognizable and resonate? Does anyone else have it? What’s my narrative? What will the logo look like?
Ultimately, know that your company name is changeable. So, don’t feel pressured to be locked in up front.
One founder booked a last minute conference in Vegas and chose the name on the spot. Another’s first company name eventually became their product name. You can also take a common noun or verb that resonates, and swap letters to make it unique.
Incorporation
Most startups begin as LLCs. Know that you can change based on your company’s goals, needs, and funding opportunities. This is where you have to decide what is right for you.
Whether B-corp, C-corp or LLC, it is advised to consult an attorney on your incorporation strategy. One that knows well the startup space you’re entering may be able to forecast your needs to build in this flexibility later.
Conclusion
Getting started is the hard part, but not unachievable. And most importantly, remembering to build in financial flexibility (in whatever form that looks like for you) can help you get there, and help you feel confident in taking the leap. Good luck to all the current and future entrepreneurs out there.
Shoutouts and thank you to: 1) John Dufresne for taking notes during the meeting. 2) First Republic Bank Boston for providing the space and food. 3) Startup Leadership Program for letting me organize this event. 4) To the four amazing panelists: Svetlana Dotsenko; Lauren Hoehlein Joseph; JamesWbowen; and, Ashish Garg. 5) Alexandria de Aranzeta for reviewing this post and providing some valuable feedback.
PS — Applications are due on 8/1/2017 for the Startup Leadership Program. Apply here if you are interested.
