Success Stories Vs Processes

Why we like success stories but hate the process to get there

(as published on my blog www.romo.vc/essay/success)

A few months ago I learned something powerful while talking to a good friend. Startup founders like success stories but few like success processes. While they debate about great stories of achievement, they rarely love the slow day to day. The step by step process to get there. Few people stick when times get hard, when motivation is scarce and cash is running low. That hit me really hard. [1]

A theory

When people listen to great founders’ stories they picture themselves as already successful. They daydream about how it might feel to achieve that glory and they get a kick of serotonin that makes them smile. They actually feel the rush of success (or our idea of success). It feels like the real thing.

However, when it is time to get back to work, dealing with all the crap and facing the harsh truth of almost zero cash in the bank, people flake. Reality storms in. The startup does not grow (or worse, it stops growing), investors pass and the founder’s team tears apart. It’s like waking up hungover after a night of extreme fun and joy.

That’s when most people feel bad and go back to Twitter, Flipboard or Hacker News to find the new WhatsApp story that keeps their hopes high. Many entrepreneurs live out of hope rather than work and focus. [2]

The problem with entrepreneurship is that entrepreneurs get those kicks of serotonin many times a day. Yet they have to face disappointment minutes later. It’s a sick ride, every freaking day. And I guess what is worse is that final IPO or huge exit day might never come.

A possible solution

Maybe the answer is to focus on what is real. Entrepreneurs already grabbed the bull by the balls and decide to start a startup. They are already outliers, one of the few. The game is on. They are supposedly doing what they like the most in life. They are free. I dare say they are already successful. [3]

What if the game of entrepreneurship is not exits or IPOs. What if the game is just not giving up?

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Notes

[1] I myself daydream a lot. And I work hard to stop that. Lately I’ve been reading stories of founders or companies that struggled their way to success. I like to learn how people got through hardship not just a recount of their past glories.

[2] Examples of hope in a startup: “If only I close this deal” “When I finally close my series A round” “ When we reach X number of users” etc. Basically every thing out of your control in a startup is just hope.

[3] I realized this a few months ago. I was on an island near Cartagena. I could see an amazing starry night. I was reading amazing books that made me a better person, a better entrepreneur and a better investor. I was actually working. I was planning how to face the challenges this year is bringing. I did not need millions to do my job. I had everything I needed to go through that day. I felt grateful to all the people that have supported and trusted me along the road, even when I have screwed up. I felt lucky. Almost four years after I am still in the game.