Do You Need the Patience to Run Your Startup?
“You have the patience of Job,” Tucker, a potential investor in my company, said to me. Tucker and I were strategizing on how to close our funding, and I was walking him through my strategy.
We had multiple problems to solve in order to close the funding. To start with, one of our existing investors, the infamous “Raul,” had blocked every term sheet we’d received.
The problem Tucker and I were trying to sold today was being caused by “Robbie.” Robbie was our new lead investor, and he and his partners were in the process of potentially backing away from the deal.
But the problems didn’t end with Robbie. We also had to replace another member of the syndicate, Jim, our investor from Boston. Jim, who had originally tried to lead the round, pulled his term sheet because of Raul’s shenanigans.
Yes, you’re going to need to be patient as a startup CEO.
All through your life as a startup CEO, you’re going to need to be patient. Everything takes longer than you expect it to.
Here’s some of the things that will test your patience:
A. Building your founding team requires patience.
B. Developing your MVP requires patience.
