Why the best founders have lived the problem they are solving
I get nervous when I meet people who describe themselves as ‘aspiring entrepreneurs’. Why? Well, it’s not because entrepreneurial ambition is a bad thing, nor would I pour cold water on any desire to enter start-up life. Instead, it’s because those who focus on the idea of ‘running a business’ or ‘being an entrepreneur’ are those who are most likely to fail at it. Conversely, it’s the individuals who have lived a problem directly and decided to tackle it themselves who are on track to set the tech agenda and secure start-up success in the coming years.
In the face of humble brag LinkedIn posts about #CEOlife, or endless blogs encouraging you to quit corporate life and become a self-made millionaire, it can be easy to get swept up in the hype. The potential trappings we’re taught launching a start-up can bring — money, profile, power — can attract the wrong crowd; those who don’t really care what the business is, as long as it brings the caché or material wealth they aspire to. This is a dangerous trap to fall into. Perhaps there was some space for such entrepreneurs in the early days of the tech revolution, but I predict their days are numbered.
Those who aren’t passionate about their product simply won’t be able to hack to realities of start-up life. The tough choices, the personal sacrifices, the lows that come alongside the highs. And that’s why the best ideas and the most successful start-ups are those who have skin in the game. People who have lived a problem and been driven by passion (or often frustration) to create a solution. Those who have seen up close how things are done and decided they could do it better. Individuals willing to sacrifice security and embrace risk in order to improve workplaces, or societies, or lives.
Take healthcare. A complex web of services dealing with human joy, pain and grief every minute of the day. The graveyard of failed tech dreams is littered with healthtech products that have failed to be embraced by the grassroots. Why? Because whilst these products might have been well intended, little thought was given to how they would work in the live environment of a hospital, where even a micro-delay or diversion to normal practices can have huge knock-on effects for clinicians and patients.
It’s not a surprise that some of the most successful healthtech start-ups in the UK today are run by current or former NHS clinicians. Start-ups like Forward Health and Patchwork were founded by NHS staff who have been on the front line and lived the problems they want to solve. They know the culture of the NHS, understand how clinical staff interact, and can genuinely empathise with purchasers and end-users. These are insights that are hard to replicate.
I’m not saying you need a medical degree to go into healthtech, or be a pilot to come up with an aerospace solution, but your experience of a problem or passion for a sector does need to be genuine. Tech giant TransferWise was born after the founders called time on the extortionate bank fees they kept running into. Will Chu, the banker behind Deliveroo, was pushed toward his brainwave after endless nights spent at his desk, wishing there was a service to bring him the food he craved. Or Gareth Williams, whose obsession with comparing the cost of flights via a spreadsheet developed into Skyscanner. These were not have a go Henry’s, casting about for any old idea that they could make them a quick buck and earn them the ‘founder’ accolade. These were bright individuals who, when repeatedly faced with a recurring problem, started thinking about a better way to do things. It’s where the most exciting innovations come from and how the most dazzling founders are born.
As funders and Governments across Europe increasingly champion start-ups solving public sector problems, the future of tech is set to be dominated by those looking to make the world around them better. That means teachers, nurses, engineers, students, parents, linguists. Your insights and lived experience are your most valuable assets. Those who use them, rather than casting about wildly for an idea to cling to, will stumble upon the very best ideas. Let things percolate, keep your eyes open for pain points, trust your gut when something sparks your interest.
Every single person has the potential to become a successful entrepreneur, but the best are those who use their passion, experience, and unique insights to create something that solves real problems for real people. And, often, it’s those we least expect who end up making the biggest difference.
