When I began reading this post, it felt like reverse psychology. And maybe it was. The final point, however, is a good one. If you start a company for the future chance of earning millions, you’re a fool. You might succeed, but you’ll likely burn out first.
Working for an early stage startup is exciting and can result in similar financial gain (okay, a few million instead of lots of millions) without the added burden of being responsible for lots of other people’s livelihoods. It is also super frustrating to take on the risk and chaos of working at an early stage startup. If what you want is excitement, frustration and potential financial benefits, JOIN a startup rather than launching your own. If you want to create something from nothing to solve a problem for a specific market and you’re ready to take on some crazy stress, start a company. Don’t listen to people who tell you that you don’t have what it takes. Do it anyway.
Entrepreneurship is not {just} about the money. It’s about the lifestyle and the art / creativity that goes into turning nothing into something.
I agree that not everyone is cut out for the lifestyle or capable of the constant decision making that comes with being an entrepreneur. Where I slightly disagree is that people should return money and put their tail between their legs when things feel a bit wobbly. If you can get a company to a spot where product market fit is obviously there, then you shouldn’t just walk away. Especially not because you don’t think you know what you’re doing. Most people have no fucking idea what they’re doing when they launch a startup. They mitigate this by hiring super smart people to help them get to the next level. If you don’t have the guts to lead a team into fire, get out of the way and hire a CEO who can.
But my main point is to truat your gut and stop comparing yourseld to Zuckerberg or Thiel or Musk. Using them as the bar for early stage entrepreneurship is insanely ridiculous. You think they knew what they were doing on day one? Or even on day 700?
Still thinking they’re a good bar for success? What about the other entrepreneurs who succeeded a bit more below the radar. Put differently, if every decent singer gave up on music because they didn’t have Beyoncé’s talent, we’d all be listening to Lemonade and nothing else.
Similarly, if every entrepreneur closed up shop when they realized they didn’t have a triple horned unicorn…well…let’s just say I’d likely starve and would spend a lot more time on MUNI.
Listen. If you can work your ass off, take on the burden of excessive risk, fight like hell to generate revenue and put literally every ounce of emotional energy into your startup, then you are an entrepreneur. Period. Just make sure you are building a product people actually want so you’re not wasting your life away. If you listen to people who tell you to quit, then you didn’t have what it takes to succeed in the first place.
