Wil Schroter

About

Wil Schroter is the Founder + CEO @ Startups.com, a startup platform that includes Bizplan, Clarity, Fundable, Launchrock, and Zirtual. He started his first company at age 19 which grew to over $700 million in billings within 5 years (despite his involvement). After that he launched 8 more companies, the last 3 venture backed, to refine his learning of what not to do. He's a seasoned expert at starting companies and a total amateur at everything else.

Articles

Startup Financials

A Startup's financial health isn't just about updating financial statements and balance sheets — it's about understanding basic business financials, and guess what? It's not that hard. This primer is designed for Founders and operators who know little to nothing about startup financials.

How Big of a Failure Can I Survive as a Founder?

For some Founders, when they experience failure, they immediately think that it’s the end. But failure has always been a part of the process and it will teach us valuable lessons along the way.

Why Are All My Founder Friends Ahead of Me?

Sometimes, we look at the success of others and immediately think we’re falling behind. Remember, success is a process, and we go through it in different phases.

We Have SO Much Time Left in Our Careers

Most young entrepreneurs feel that they should rush things just because others seem to be doing well in life already and they’re feeling left behind. Everyone has their own timeframes and maybe this year is just not your year, and that’s okay — because you still have a lot of time left in your career.

Live to Fight Another Day

Is it important for Founders to identify problems early on? Survival is the strategy in Startups, so finding solutions as soon as possible is the name of the game.

How Being a Founder Made Me a Better Parent (and vice versa)

As they say, “Being a Founder is like being a parent, you always stay involved.”

How to Build a Culture of "I'm Wrong"

In startups, you can’t always be right and have a smooth sailing path, in the beginning. Normalizing a culture of admitting and allowing mistakes will help companies know how they can perform better in the future.

Where There's Smoke, There's Fire

Sometimes companies have employees who suddenly start performing poorly. What could be the reason? Whenever there are small problems, there must be a root cause of why it’s happening, so it’s up to the Founders to identify what’s causing it.

What I Would Have Told My Former Self

Now that you’re a wiser and more experienced Founder, there are many things that you wished you would’ve done differently. If you could go back in time, what would you tell your past self?

We Need a Culture of Accountability

The two main components of accountability are ownership and consequences — having these things can make a huge difference in a company’s overall success. And a Founder should be able to know how to instill accountability in their employees.

Am I a Good Manager?

What does it take to become a good manager? The truth is, one becomes a good manager when they can push the entire team to transform themselves and become exponentially better at what they do.

Letting People Go: Ego and Safety

We’ve been talking about it and now it’s happening. People are losing their jobs fast and they are left with little to no option in these trying times. As Founders, what can we do to help?

Sacrificing Our Health for Our Startup is Not OK

When we push ourselves to the limit in the name of our startup, we not only hurt our own well-being, but we hurt the well-being of our company, too. It's time we change that.

What if Our Startup Anxiety Never Quits?

"My never-ending anxiety is awesome!" said no Founder, ever. We feel on edge most of the time from this sense of urgency to get one thing done right after another. But here's a secret: it can benefit our mental health if we just let things take their course.

This Is Fun and All, but When Do I Get Rich?

In the Startups community, many Founders expect immediate returns and instant success. The truth is, outside of the community, it takes several years (decades even!) to reach significant growth in returns.

We're All Afraid of Paper Demons

When you focus your attention on something that has not happened yet it will create anxiety that will hinder everything. Stop worrying about the things that didn’t happen and start planning based on what’s happening now.

What a Market Downturn Means for Startups

Let's talk about putting a freeze on your resources when returns take a downturn. You can definitely weather the storm when you understand where to find the opportunities unwanted downturn provides.

What if I Fired Everyone and Started Over?

As your business grows, everything changes. All things evolve, and skills must upgrade. This includes everyone in the entire organization.

This Could be Our Last Shot

In our early years, when we fail to succeed in growing our Startup, it’s okay. We can always start again. When we’re already in our mid-40s and 50s (or older), screwing up comes at a high price, and a restart may no longer be possible.

Will Investors Let Me Take Money Off The Table?

What is the likelihood of Founders taking money off the table? In reality, the possibility is close to zero for most Founders.

Being Leveraged Means Having Zero Choices

Early on, Founders tend to believe that choosing an investor is an option. It's possible, but unless we're in the top 5 percent of those that have been on this route more than once, we don't get the luxury of choice here.

I Failed. What Will People Think of Me?

We always worry about what other people might think of us when we fail. But the truth is, no one will remember. So, dust it off and start creating a new narrative!

Don't be Afraid to Take Big Swings

Successful Startups did not succeed because they fear failure. Success comes when the Founder keeps taking swings and managing failure as they come because they’re focused on getting a hit!

When Founders No Longer Have Any Upside

Having new investors is good. Stacking up more funds to expand the company is good. Although, it can turn dreadful real quick when as a Founder you are left with no more room to grow.

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