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This is all a very sad state of affairs obviously. I think, though, cautionary tales do have some value - and hopefully allow a small silver lining to the acco
by richardjordan 14y ago
This is all a very sad state of affairs obviously. I think, though, cautionary tales do have some value - and hopefully allow a small silver lining to the accompanying cloud.
In this is, as the post outlines, an important lesson to founders from the sales/marketing side to not oversell yourself, not just to others but to yourself. This is part of the reason many VCs are reluctant to back companies founded by pure sales people, because such folks will oversell their own ideas to themselves and not look as critically. You MUST get to grips with fundamentals. You MUST understand the financial details of your business and not hand that responsibility off to someone else. I would also argue, though many disagree, that you MUST understand on some level of detail the engineering behind your product, even if you are not the level of coder your engineering team members hopefully are.
Pitching ability is necessary but not sufficient qualification for success as a startup founder. It's a very sad situation when someone pitches so far ahead of the curve they feel like they have no way out. Depression and despair is a frighteningly common situation to find yourself in as a founder. Help yourself by owning knowledge of all aspects of your business and THEN let the subject matter experts own the deep dive and the execution on those.