Interesting points, but a lot of it is contradictory to the advice you hear from successful startups, so I'd take this with a grain of salt. "I believe that my previous two ventures failed mainly because of the founding team (which I’m included in). How do I know? Because companies with almost identical products and value propositions succeeded afterwards. " I'm not sure if you're drawing the correct lesson there. So…
Why I'll be a solo founder next time
131–140 of 156 posts
Re: Why I'll be a solo founder next time
#132A partnership is more work and harder than marriage because you have to: - get on and stay on the same page - agree on both of your live's direction and commitment to a path has to be the same for the next 2-3 years - have the ability to defer to each other in your area of competence - have to be skilled at learning and getting anything done, whether its business or tech. - know that your entry and exit goals have to…
It is a great point that partnering with a friend is generally dangerous. From my point of view partnering with a friend automatically give you two problems; you have to maintain a friendship while developing a demanding business relationship. The cost of loosing the friendship will make it harder to make demands and walk away if necessary, even if that is objectively the better path. I would also caution against par…
I've had partnerships fail with friends. And have one succeeding right now.
What it taught me is that not all friendships can handle pressure and you are only friends to a certain depth, intensity, and commitment to each other.
It's a stoic truth that I think can be explained by those friendships that we maintain over the years with little to no effort... with whom spending 24 hours is more than spending months with the wrong people.
There is an absolutely necessity to being able to turn the friendship on/off as well as work. I didn't start working with a very close friend until we were in our early 30's, and I'm glad we waited. As mature as we already were, having 10 years away from each other working on projects has increased the appreciation on both sides of the tables.
Re: Why I'll be a solo founder next time
#133Earlier quoted context omitted.
I'll chime in here and say that reading this article sounded exactly like reading about my own 3 previous (failed) partnerships. My sole successful venture has been solo all along (not including employees), and has outlasted the rises and falls of the other businesses (during the amateur entrepreneur "too many fingers in too many pies" phase). I don't think I'd do a partnership again. But maybe I just don't play well…
If you have visionary guy in your startup, he should come with good marketing skills and that should be his main job, so that he can do what he is good at. Selling the vision to customers and investors can be very valuable. Guy who knows the product sells the vision and not the actual product can be very valuable, because the actual product is moving target anyway. "Every successful enterprise requires three men - a…
Re: Why I'll be a solo founder next time
#134For example, in my first startup I had a very good co-founder but we were both very young and inexperienced. We didn't hire the right people to surround us and help us in our journey. As a consequence we had a great run but were out maneuvered by other companies. In the startup I'm doing now, I started with great co-founders and we then proceeded to hire more great people to surround us. We haven't completed our journey yet but the driving force in the company now is not only me (the other co-founder left to pursue other interests) but many others that share my passion and goals.
Take your time and look for people that share your vision and passion. These people are out there it just takes time. And remember, no one can do it by themselves.
If you never read it, by a copy of Good To Great (http://www.amazon.com/Good-Great-Companies-Leap-Others/dp/00...). There's a whole chapter devoted to how great companies need great entourages.
Re: Why I'll be a solo founder next time
#135Earlier quoted context omitted.
omg, secret political correctness police, please go away!
Whiddershins' comment has nothing to do with political correctness, but rather with actual historical correctness. The comment is polite, sincere, and provides a further source of information for those who seek it.
This is silly and trivial. Two reasons:
[1] The phrase is the analog of an idiom. It is shorthand for "hierarchy" and used as such. The parent is explaining its use.
[2] There are many tribal organizations. This cuts both ways. Provided there is a single one that was historically rank-hierachical, the data is not even a counterfactual.
[3] Provided [2] is ok, so is [1]. We know [2] is ok. Hence, the comment is logically ~gratuitous.
See, for example:
http://www.usingenglish.com/reference/idioms/too+many+chiefs...
Re: Why I'll be a solo founder next time
#136If you take that profile and suggest that success as a solo founder is possible, well, you would be wrong. The road to success is actually a mine field for most. And these young entrepreneurs, for the most part, are simply not prepared to have a steady hand at the tiller in a storm. So, yeah, that the probability for success goes up exponentially for teams is no surprise. So long as everyone is pushing in the same direction reasonably well things move forward. Add to that guidance and adult supervision (I don't mean that in a derogatory sense at all) and it could and does work well.
Of course, there are lots of examples of teams that self-destructed as things got difficult. I watched a documentary on indie game developers a while ago and that seemed to be a common theme: As they started to get stuck in the mud that can be a never-ending project partners started to become enemies and things went from bad to ugly fast.
It is my firm conviction that a well-rounded, experienced solo founder does not need a co-founder in order to succeed. You still have to hire good people to work with you, which is a fact regardless of how many founders might be at the top.
Outside of the tight-knit university-centric circles of places like SV, finding suitable co-founders is hard and fraught with problems. And this is particularly true as you get older. Everyone can get excited about launching a new business. Few are willing to put it all on the line to make it go. I've experienced this first-hand with friends. When you finally say "OK, let's do it" and start to discuss the reality of what's expected from each founder things slow down very quickly. That's when "we should do this together" turns into "Well, let me check with my wife" or "I don't think I can put in the time". The co-founder pool is smaller and smaller as you get older and/or accumulate responsibilities.
I'd be willing to bet that the vast majority of businesses in the world are started and run by solo founders. I know a bunch of them. I am talking about everything, from a mechanic's shop to a software company. Partnerships are far more difficult than marriages to get right and the consequences of failure can be just as dire, if not more.
A lot of these discussions on HN tend to be software-startup-centric. There's far more to the world than web and mobile software startups. By comparison software startups are easy. That's why people can write these really amazing zen sounding introspective pieces with revelations on how they did this or that, failed and then did this or that, learned, pivoted, raised some money and eventually succeeded. Try doing that with a self-funded (from savings, loans, credit cards, second mortgages or all of the above) hardware startup, a restaurant or a dry cleaning business. The phrase "I'm all in" comes to mind. Most businesses cannot be built sipping latte's at Starbucks while listening to cool tunes. Be sure to consider context before reaching some of these conclusions.
Re: Why I'll be a solo founder next time
#137Or boiled down: less dependency on a single person.
Re: Why I'll be a solo founder next time
#138Starting a company solo is worse than starting it with bad co-founders because you don't know at start that your co-founders are bad and then you still have a chance.
Re: Why I'll be a solo founder next time
#139I'm a single founder and can only say the experience is rather grinding. I'm all up for the "If you don't help, at least don't get in the way" motto. I decided to pursue my current venture without a cofounder precisaly because I didn't find enough people that had both the skills and (understandably) the willingness to quit their nice paying jobs. For me, it doesn't really make sense to have people aboard unless they…
Re: Why I'll be a solo founder next time
#140I'm a single founder and can only say the experience is rather grinding. I'm all up for the "If you don't help, at least don't get in the way" motto. I decided to pursue my current venture without a cofounder precisaly because I didn't find enough people that had both the skills and (understandably) the willingness to quit their nice paying jobs. For me, it doesn't really make sense to have people aboard unless they…
I agree that it is exhausting. I'm 2 months into a solo founded startup and the mental fatigue is not what I expected. Reflecting on it now, it certainly makes sense, but I just didn't know that it can be so taxing. I've told myself that if I make it to a next round of funding I need to find a partner stat.