What does success look like for you and your startup?
Are you in a race? Is winning that race all that matters?
Do you feel like you need to be obsessively working on and thinking about your startup ’24×7′?
Is the end goal the biggest fattest possible pay check?
The answer to the all the above is ‘yes’ for many startup founders.
And yet many (most) founders burn out and their startups fail. Friendships and families are neglected and worse. Sad but true.
Last Summer Josh Pigford of Baremetrics had an epiphany…
He started with the realisation that the above line is fake. That living by the traditional startup mantra is “…not a way to live. It’s not healthy. It doesn’t make you interesting. It’s not fun building anything that way. It, statistically speaking, likely won’t even make you very much money.”
He took time out and asked what if…
What if “success” was “paying yourself $150,000 a year and building a real sustainable business that you build up for 10 years and sell for a few million? (No, that’s not considered a success in Silicon Valley.) Or maybe you never sell it?”
What if “success” was “paying yourself $30,000 a year and traveling the world with your family?”
What if “success” is “building an amazing place to work where your team is paid really well and actually enjoys working there (instead of having people who jump from startup to startup playing the equity game)?”
What if “success” wasn’t “attached to team size but instead was attached to customer happiness?”
Food for thought.
Soft Skills Separate ‘Men from Boys’
Seth Godin argues that “what actually separates thriving organizations from struggling ones are the difficult-to-measure attitudes, processes and perceptions of the people who do the work.” And yet we keep hiring on easy-to-measure ‘vocational’ skills – because they’re easy-to-measure.
Julia McCoy calls out common words that blunt the effectiveness of your writing.
Marketing With Emoji
Aleh Barysevich illustrates how and why using emoji can make your company more approachable and even ‘human’ in the eyes of your audience. Lots of hand-on tips.
Bryce Roberts crunches the numbers to find that “a founder selling at the Series D price of $210M, would make the same amount of money at exit as they would have if they’d sold for $38M after having only raised a seed round.” Yet, “an exit at $210M would not even qualify as a home run for even the smallest fund” by many VCs. So, given the sacrifice and probabilities involved, take stock of what you as a founder (vs the VC) consider a meaningful exit!
Tips on Raising Money – for non-startup ‘types’
Benjamin Benichou is not from the startup or tech world but had to learn some valuable lessons on how to raise money from investors. He shares them here.
Bold Predictions for 2017
Members of the Nine Point Capital team share their ‘bold’ predictions for 2017.
Artificial Intelligence 101
Here’s an excellent (and beautifully illustrated) introduction to the world of AI by Pawel Sysiak.
Banks are Failing to Adapt
According to a new study by Deloitte Digital & MIT Sloan, 90% of banks acknowledge their industry is being disrupted and yet just 43% are actively preparing for it.
AI’s Can Detect Our Feelings
AI software is now starting to read our emotions! There are exciting uses for this such as coaching for anxiety and Asperger’s. Equally I can see some marketers licking their lips…
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