Should You Start a Startup?
Notes from Y Combinator’s Startup School Curriculum
In his seminal 2005 essay, “How to Start a Startup,” the impetus for the incubator that would later be Y Combinator, Paul Graham says the three things you need are: good people, a product people actually want to use, and the ability to raise money.
According to YC Group Partner Harj Taggar, people working at FAANG companies do not always make the most successful entrepreneurs. While talented software engineers tend to have really impressive initial MVPs, they typically struggle with next steps.
The hustle needed to acquire testing users often ends up being a stumbling block for people who are used to having a sizable user database at their disposal.
Acquiring users willing to test your product is something that is taken for granted at large corporations, but it’s something you have to fight for as a first-time founder.
Taggar argues that the most important trait in a founder is resilience.
How do you know if starting a startup is the right decision for you?
- Curiosity is sufficient. Don’t dwell too much on your specific motivations; having some general curiosity about ideas and startup life is enough to get started.
- Consider the worst-case scenario. If you were to spend a year developing your idea, and it failed, would that be okay with you? The answer will be different for each person and depend on your personal set of circumstances.
- Collaborate with smart people on side projects and launch them to get an idea of whether you would enjoy startup life. If so, find a cofounder and make the jump!
