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A common trend I've noticed with successful founders in my small circle - little responsibilities to dependents and a ridiculous abundance of just-in-case-it-fa
by RikNieu 8y ago
A common trend I've noticed with successful founders in my small circle - little responsibilities to dependents and a ridiculous abundance of just-in-case-it-fails funds.
- onion2k 8y agoAnecdotally, that's the opposite of my experience in startups. The founders who had funds to fall back on (or a job they could easily return to, or parents who could help them through tough times, etc) mostly either failed outright or ran their startup for years without really getting anywhere. I think the reason is that they didn't need to succeed. They were 'playing' at startups. It didn't matter if they failed. The fear of actual, real failure is a fantastic motivator. Failing should have consequences for it to matter and for it to drive you to succeed. That doesn't need to be financial ruin of course; it could be that you truly believe your startup is important and necessary, and that you're solving an actual pain. I believe that startups with that are more likely to succeed. It'd be interesting to study it.
- achow 8y agoThat is true. But what one of the two points of OP is while you are running a startup, which would fail if you take your attention away, your chance of making it a success would be orders of magnitude higher if you don't have to care about your aged parents medical bills, or home mortgage, etc.