It’s better to have focus, and be wrong, than to be wrong without focus. At least then you’ll know what’s not working.
~ Bill Gross (Founder & CEO of Idealab)
If you’re creating something interesting then you should expect other teams to be working on similar ideas. It’s just the way it is. Any new idea is had by 3 other people at the exact same time as you had it. So, don’t be surprised if you hear about other startups launching in your space. The challenge is to not let it distract you. He why I think early startup competition doesn’t matter.
Having met with hundreds of entrepreneurs and invested in 15+ others as an angel investor, I’ve started to see patterns as to what great startups and founders have in common. In my mind, these three are the most important.
- They would put their head through a wall, for their idea, if that meant success.
- They don’t shy away from things that others would be scared to tackle.
- They are, and continue to be, their biggest user
Have questions you wish you could ask the pro’s? Well, today is your day. I reached out to some of my favorite entrepreneurs and startup advisors to see if they had time to take some calls. Feel free to reach out to them directly. The only thing I ask:
- Have a focused and specific question
- Keep your calls under 10 minutes
Be sure to share this post with your startup friends … I’m not sure how long they’ll be available.
… then don’t sell your company.
As an Entrepreneur we wake up everyday to solve problems that we see in the world. We solve those problems by creating an environment that excites us. We hire the smartest people we can find, build the most amazing products/solutions for these problems, for customers (hopefully like us) that we absolutely love. This is what makes us happy. We certainly don’t do it for the money, because for the average startup, there’s no money to be made. If you sell your company, it’s likely one – if not all of – these things won’t be true.