Startup Founding Advice

Inspired by YC and PG

Key Founder Traits

1. Determination: Startup founders need relentless determination to overcome obstacles and succeed. Intelligence is important, but determination is crucial.
2. Flexibility: Founders must adapt their dreams and ideas as the unpredictable startup world demands, like a running back adjusting their path on the field.
3. Imagination: Intelligent founders generate innovative ideas that may seem crazy at first but turn out to be just the right level of unconventional, like Airbnb.
4. Naughtiness: Successful founders often have a mischievous side, delighting in bending rules without causing harm. This trait may be connected to imagination.
5. Friendship: Startups thrive with multiple founders who genuinely like and work well together, as strong relationships are vital for navigating challenges.

Primary Advice for Founders:

• Launch now and build something people want
• Do unscalable things initially; remain small and nimble pre-product market fit
• Find the 90/10 solution and focus on one problem at a time
• Aim for 10–100 passionate customers
• Write code, talk to users, and prioritize their feedback
• Growth is the result of a great product; don’t scale until it’s built
• Valuation doesn’t guarantee success
• Avoid long deals with big customers, corporate development queries, and unnecessary conferences
• Maintain strong founder relationships and open communication
• Be prepared to fire customers if needed and ignore competitors
• Focus on unit economics and ensure profitability before scaling
• Choose one or two key metrics for success and prioritize tasks accordingly
• Embrace ambition in company direction
• Balance work and personal life; be nice and take care of yourself

Extra advice:

• Equity distribution: It’s important to have fair and clear equity distribution among cofounders early on to avoid conflicts later.
• Hiring: Focus on hiring the right talent and maintain a high bar for quality. Early hires have a significant impact on the company culture and future success.
• Mentorship and networking: Seek advice from experienced mentors and network with other founders to learn from their experiences and challenges.
• Customer acquisition: Develop a clear customer acquisition strategy, focusing on cost-effective channels and optimizing your marketing efforts.
• Pivoting: Be prepared to pivot your product or business model if necessary, based on user feedback and market conditions.
• Legal and compliance: Ensure that your startup is compliant with legal and regulatory requirements, including proper incorporation, IP protection, and data privacy.