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One thing I learned about startups is that you have to detach yourself from the success and failure of your work and concentrate on two things: The first is ru
by spyckie2 9y ago
One thing I learned about startups is that you have to detach yourself from the success and failure of your work and concentrate on two things:
The first is runway. How much time and resources do you have? How are you generating runway? Runway is the master summary of your revenue, expenses, and investment. If you are good at managing runway, you can exist forever until you find a good idea. Being good at runway is knowing when to raise, when to focus on revenue, and when to invest.
The second is willpower. This is not motivation. Your willpower should be a combination of many things - your stubborn personality maybe, your insistence on finding a solution, your determination to succeed, your obsession with the space that you are working in. Motivation should never be relied on as it's an emotional state and not a character trait.
Willpower is your tank size. Morale is how much fuel is left. Make sure to upgrade your tank and keep it full.
Managing these two things is the primary goal of founders. Finding product market fit is the goal of a startup, but your responsibility as part of the founding team is, using the runway you have, to maximize the combination of time, skillsets and expertise to generate as much forward moving business activity that you can.
As a founder, you should also get into fighting shape. This means that you need to step back and look at yourself. Learn to detach yourself emotionally from failures and success; none of that matters, there is only your current state of productivity.
And learn to guard the resources that matter; specifically in this case, your morale. It's run dangerously low. When it is this low, you can be unconsciously reducing the morale of the team as well, which you should never do. (If you quit, quit gracefully, don't drag the team morale down in order to shut down).