3 ms·

Hi, any advice for solo founders, if the startup isn't launched yet, but expected to launch in 1 month? Thanks.

keithwhor 10y ago
As a solo founder: my main advice is just do everything you can to create value and hustle. I don't want to paint a rosy picture --- being a solo founder is a hell of a lot of really, really hard work. It's not enough to just be good at writing software. My top recommendation is to find a cofounder you have worked with before that you really trust, and barring that, make sure you have a solid support network of friends and (hopefully) a supportive partner. The emotional rollercoaster is real and it can f_cking hurt. The number one skill you can have as a solo founder is a tremendous amount of self-awareness and self-reflective ability. You're not going to have a business partner telling you when you're f_cking up, and you can't rely on really early stage investors too much for this, either (even after they've invested) because as empathetic human beings it's often better to give somebody the chance to figure it out on their own than risk alienating them. So be the person that figures it out on their own. Aside from that, listen to the advice people give you, and take it seriously, but judge them by their motivations and actions, not necessarily the content of the advice at face value. A question from a prospective investor like, "how do you compete with [X]" isn't necessarily looking for an answer - if their action is they don't invest, it's probably more of a signal that the story you're telling them is raising red flags about [X] and you're not going to convince them today and move on. Figure out how to take [X] out of the equation in your story. (But it's good to know, for the sake of the business, how you plan on dealing with [X]. Storytelling-by-pitch is only a high level overview of a robust business strategy.) Similarly, keep in mind many active founders have motivations around self-interest of talent / IP acquisition first and foremost --- there are many, many helpful ones but at the end of the day they all have a business to grow just like you do. Finally, with all of that in mind, trust your gut. If you believe in what you're building, and you're creating value for your customers, that's all that matters. Find believers. They're out there. Love others and accept love that others are willing to give. Listen to your believers when they speak. (Early investors, employees, etc.) They've already made actions you can trust (re: above), so their words are an order of magnitude more valuable. Re: YC specifically, I can't be helpful there, but thought I'd jump in. I hope Michael has valuable advice about timelines and such.
- crisanionel 10y ago
  Thanks for the advice.
  - keithwhor 10y ago
    No problem. For what it's worth, I'm still pretty close to the beginning of my journey and wouldn't be here without a fantastic group of amazing, supportive friends, family, colleagues and investors. I wish I had received more advice like this earlier on, and hope that's helpful for you. You'll probably hear, "find a cofounder" a heck of a lot but it's not necessary. It is extremely helpful, so always have your head on a swivel looking for the right people, just try to understand what you're getting into from the start. :)
no1youknowz 10y ago
I'm a solo founder. Like yourself, about 4-6 weeks away from launching. I'm going to offer a different perspective than @keithwhor. Yes, you need to have many skills than writing software. You need to know how to cold call/email, how to cultivate relationships over many mediums, how to ask for more things that are offered, how to push for that sale, how to essentially moon-shoot and to know everything is a negotiation. Oh and work 18+ hour days as well. There may be skills that you don't have yet. Don't worry, being an entrepreneur means that you'll gradually get better at each skill and with each attempt will get stronger until it feels second nature. Keep pushing your own boundaries. Want to know the difference between a founder with his first company and a CEO (with his first company) at 3 years? He's just 3 years ahead of you and been through the mill and gained experience. There's nothing you can't do by yourself. Should you get a co-founder? As someone who has gone through the carousel of missed opportunities such as: - Starting a venture with 2 other people as a team, who through they brought in a lot of strengths and relationships, but when push came to shove, had squat to offer. It went nowhere quickly. - Trying to start ventures where for the other person was a side hustle and for me, was the only thing going. You can't have 1 co-founder betting 100% and his time, where the other is giving 50% or less and is distracted! - Finally, to then being a potential co-founder myself to a company that imploded after making them a monumental success (multiple millions generated - NET) in 12 months of joining and getting nothing. To then being a co-founder of another company with a parter and then getting nothing at the end! To say things haven't gone well is an understatement. But with each step, a lot of lessons were gained. Now that knowledge and lessons are being applied to my venture and I'm making great strides. For me personally, the only thing a co-founder could do at this point. Is dilute my share of the company to 50%. Hmmm, no thanks. As a solo-founder, everything is done your way. You know the vision, the path to getting there, the sales pitch, the numbers, how you want to grow your company. The company should really bend to your will. I see the company as an extension of your will. If done right, the gaps that you have are either filled by 3 things:- 1) Companies that exist to fill it for you. If it doesn't work out, fire them and find one better. Your equity still stays the same. 2) Employees, hire fast and fire even faster. Again, you didn't lose any equity. 3) Contractors, have clear goals and time-schedules. Even reward with bonus for being early/on-time. Nope, no equity lost here. As for me. I have multiple vendors which are going to fill gaps in my startup. I have contractors when the time is right and I already have potential employees when I have the funds. I have a business plan which lays out the roadmap for the next 12 months post launch. Sure, things can change, but if you have guidance, you know when it's right to do something. Having a co-founder(s) dilutes all of this. Now you have someone else's perspective you need to take into account. Oh that perspective conflicts with yours? Now you have to either give in or get them on board. If you give in, where are you going. Can you completely trust that what they say will work out? What does your gut tell you? From previous experience, good luck with that and/or the outcome. I've been through plenty of mistakes where my gut was proven time and time again. Oh and that co-founder, is he as good as you, or better? My previous co-founders were not a match to my technical skill with the skill they were bringing in. This lead to conflicts of understanding, both the vision and what technically could be possible. You know what lower smarts gets you? The co-founder coming into your realm and second-guessing you because his "friend" is now running some new stack/shiny object and you aren't. My ethos. Don't get a co-founder, get an employee. An employee you can lead the direction and get what you want implemented. Oh and employees scale, more co-founders will just dilute equity until there's none on the table for an investor. ---- Btw, if you have a co-founder and it works. Great. Understand, It's not for everyone.

As a solo founder: my main advice is just do everything you can to create value and hustle. I don't want to paint a rosy picture --- being a solo founder is a hell of a lot of really, really hard work. It's not enough to just be good at writing software. My top recommendation is to find a cofounder you have worked with before that you really trust, and barring that, make sure you have a solid support network of friends and (hopefully) a supportive partner. The emotional rollercoaster is real and it can f_cking hurt. The number one skill you can have as a solo founder is a tremendous amount of self-awareness and self-reflective ability. You're not going to have a business partner telling you when you're f_cking up, and you can't rely on really early stage investors too much for this, either (even after they've invested) because as empathetic human beings it's often better to give somebody the chance to figure it out on their own than risk alienating them. So be the person that figures it out on their own. Aside from that, listen to the advice people give you, and take it seriously, but judge them by their motivations and actions, not necessarily the content of the advice at face value. A question from a prospective investor like, "how do you compete with [X]" isn't necessarily looking for an answer - if their action is they don't invest, it's probably more of a signal that the story you're telling them is raising red flags about [X] and you're not going to convince them today and move on. Figure out how to take [X] out of the equation in your story. (But it's good to know, for the sake of the business, how you plan on dealing with [X]. Storytelling-by-pitch is only a high level overview of a robust business strategy.) Similarly, keep in mind many active founders have motivations around self-interest of talent / IP acquisition first and foremost --- there are many, many helpful ones but at the end of the day they all have a business to grow just like you do. Finally, with all of that in mind, trust your gut. If you believe in what you're building, and you're creating value for your customers, that's all that matters. Find believers. They're out there. Love others and accept love that others are willing to give. Listen to your believers when they speak. (Early investors, employees, etc.) They've already made actions you can trust (re: above), so their words are an order of magnitude more valuable. Re: YC specifically, I can't be helpful there, but thought I'd jump in. I hope Michael has valuable advice about timelines and such.

crisanionel 10y ago
Thanks for the advice.
- keithwhor 10y ago
  No problem. For what it's worth, I'm still pretty close to the beginning of my journey and wouldn't be here without a fantastic group of amazing, supportive friends, family, colleagues and investors. I wish I had received more advice like this earlier on, and hope that's helpful for you. You'll probably hear, "find a cofounder" a heck of a lot but it's not necessary. It is extremely helpful, so always have your head on a swivel looking for the right people, just try to understand what you're getting into from the start. :)

no1youknowz 10y ago

I'm a solo founder. Like yourself, about 4-6 weeks away from launching. I'm going to offer a different perspective than @keithwhor. Yes, you need to have many skills than writing software. You need to know how to cold call/email, how to cultivate relationships over many mediums, how to ask for more things that are offered, how to push for that sale, how to essentially moon-shoot and to know everything is a negotiation. Oh and work 18+ hour days as well. There may be skills that you don't have yet. Don't worry, being an entrepreneur means that you'll gradually get better at each skill and with each attempt will get stronger until it feels second nature. Keep pushing your own boundaries. Want to know the difference between a founder with his first company and a CEO (with his first company) at 3 years? He's just 3 years ahead of you and been through the mill and gained experience. There's nothing you can't do by yourself. Should you get a co-founder? As someone who has gone through the carousel of missed opportunities such as: - Starting a venture with 2 other people as a team, who through they brought in a lot of strengths and relationships, but when push came to shove, had squat to offer. It went nowhere quickly. - Trying to start ventures where for the other person was a side hustle and for me, was the only thing going. You can't have 1 co-founder betting 100% and his time, where the other is giving 50% or less and is distracted! - Finally, to then being a potential co-founder myself to a company that imploded after making them a monumental success (multiple millions generated - NET) in 12 months of joining and getting nothing. To then being a co-founder of another company with a parter and then getting nothing at the end! To say things haven't gone well is an understatement. But with each step, a lot of lessons were gained. Now that knowledge and lessons are being applied to my venture and I'm making great strides. For me personally, the only thing a co-founder could do at this point. Is dilute my share of the company to 50%. Hmmm, no thanks. As a solo-founder, everything is done your way. You know the vision, the path to getting there, the sales pitch, the numbers, how you want to grow your company. The company should really bend to your will. I see the company as an extension of your will. If done right, the gaps that you have are either filled by 3 things:- 1) Companies that exist to fill it for you. If it doesn't work out, fire them and find one better. Your equity still stays the same. 2) Employees, hire fast and fire even faster. Again, you didn't lose any equity. 3) Contractors, have clear goals and time-schedules. Even reward with bonus for being early/on-time. Nope, no equity lost here. As for me. I have multiple vendors which are going to fill gaps in my startup. I have contractors when the time is right and I already have potential employees when I have the funds. I have a business plan which lays out the roadmap for the next 12 months post launch. Sure, things can change, but if you have guidance, you know when it's right to do something. Having a co-founder(s) dilutes all of this. Now you have someone else's perspective you need to take into account. Oh that perspective conflicts with yours? Now you have to either give in or get them on board. If you give in, where are you going. Can you completely trust that what they say will work out? What does your gut tell you? From previous experience, good luck with that and/or the outcome. I've been through plenty of mistakes where my gut was proven time and time again. Oh and that co-founder, is he as good as you, or better? My previous co-founders were not a match to my technical skill with the skill they were bringing in. This lead to conflicts of understanding, both the vision and what technically could be possible. You know what lower smarts gets you? The co-founder coming into your realm and second-guessing you because his "friend" is now running some new stack/shiny object and you aren't. My ethos. Don't get a co-founder, get an employee. An employee you can lead the direction and get what you want implemented. Oh and employees scale, more co-founders will just dilute equity until there's none on the table for an investor. ---- Btw, if you have a co-founder and it works. Great. Understand, It's not for everyone.