How startups *really* get started: it’s not all angels and unicorns
If you’re familiar with the startup ecosystem, you’re familiar with the terminology of bootstrapping, unicorns, and angel investors. What do all these things have in common? They’re physically impossible. You can’t literally pull yourself up by your own bootstraps, much less ride a unicorn or be touched by an angel in the real world.
All startups begin with hope that they’ll be the next big thing, because everyone knows the myths of how some of the most successful tech companies in the world started just like them — two guys in a garage with their computers, or a crazy college kid trying to “move fast and break things,” who ends up taking over the world.
But for most companies that don’t rhyme with Mapple or Bacefook it’s not all angels and unicorns.
Oxymoronic flat hierarchies, made up titles like “Disruption Officer,” and all the ping pong and craft beer have made startup life out to be a fairy tale. Today we’re breaking down some of the myths about how startups get started that could keep you from getting your own business ready for liftoff. And why should you listen to us? Grover was founded in 2015, and grew 1000% in the last year alone. We know what we’re talking about when it comes to starting from the bottom.
Startup success myth #1: It’s too late, you’re already too old
The media is saturated with images of hip millennials and even Gen-Zers starting their businesses out of coworking lofts and bedrooms. There’s no right time to start a startup, and if you actually had the best ideas of your life in your early 20s, good for you, but that’s not how most startups happen. The reality is that people over 55 are twice as likely than people under 35 to launch a high-growth startup.
Although our founder does fit the mold, having started Grover in his late 20s, some of the most integral members of our team are in their 50s and 60s! Don’t think it’s too late to launch your startup just because you aren’t some wiz kid in Silicon Valley.
Startup success myth #2: Get money or die
Investor money is the lifeblood of most startups, and while of course it helps to get some big investments in your company, don’t think that money solves everything. Spending hours and hours refining your elevator pitch and talking a big game about how big you’re going to be will only get you so far. If you really want to scare yourself, check out collapsed.co‘s tales from the crypt, and look at how startups that raised something like 100 MILLION in funding still collapsed after a few years.
What’s more important is that you develop a quality product that people actually need or want, and you get it out there to the best of your ability with quality and care for your customers. If you can prove that to your investors, then there’s no reason not to check your ego at the door.
Startup success myth #3: Become a mole person
People know the most successful companies’ founders’ names, and when they try to imagine themselves in their shoes it’s often alone, because that’s the myth of startup lone wolves: working an extra 20+ hours a week, alone all night coding or chasing leads on the weekend while somehow still going to school or holding down other careers.
The value of teamwork, feedback, and insight from the people who will actually use your product will take you a lot farther than holing up in your basement or coworking space like a mole person. Connecting to other startups and learning from each other can give you even more a boost. Nine out of ten startups fail so there’s no reason not to give it all you’ve got, lean on every resource available to you, and be as strategic as possible to increase your chances of being part of that 10% (even if it means asking for help).
Startup success myth #4: Lightning strikes
Even if you don’t picture yourself as a lone wolf founder, some people think that their startup idea is so precious that they have to keep it a secret from the world until they’re 100% ready to hit the market. But once it gets out there, sometimes that lightning bolt of a brilliant idea fizzles, and it’s back to the drawing board.
Don’t put all your eggs in one basket. Your first idea doesn’t have to be your best one — it shouldn’t be. You’re going to have to stay on your toes, ready to grow and change. Put down the craft beer and the ping pong paddle and plan your next move to stay on top, because the tech world changes faster than you can say “pivot.” “Fail fast” is the only startup cliché that is actually useful.
After all this tough love, is there still a tiny baby unicorn leaping in your heart to get out? Are you still ready to face the responsibility of starting your startup? Do you want to do the impossible?
