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ArticleThe Right Way to Ask for an Introduction

The Right Way to Ask for an Introduction

TL;DR "I saw someone in your social network that I'd love to get an introduction to. How can I make that ask while making you feel good about doing it?"

Founders are really bad at asking for introductions.

On a daily basis I get a request that looks something like this: "Hey Wil, I see that you know , would you mind introducing me to them? I just had this idea 9 seconds ago and I'd love to see if they'd invest in me!"

Now, mind you, I make a living by helping Founders (my dream job) so making introductions is a huge part of my job. The problem isn't my willingness to make them, it's the inexperience of Founders in how to ask for an introduction.

As Founders, our ability to get introductions is the lifeblood of our growth. Here's how to do i...



ArticleHow do I leave my Startup Stress at Work?

How do I leave my Startup Stress at Work?

Decoupling startup stress from our "regular life" is one of the biggest challenges we deal with as Founders. Running a startup isn't like working at a job. The startup is a part of who we are, so our stress feels like it's imprinted into our very DNA.

Yet, at the same time, if we can't decouple our startup stress and our home lives, we risk destroying both. What we need is an actual strategy for freeing up our minds so that we can actually enjoy both sides of our lives.

Isolate and Attack the Problem

As Founders, we are awesome at attacking problems all day long at our startups. So why is it that we never isolate the problem of our "take-home stress" and attack it with the same intensity?

The first step is to isolate the problem as an actua...



ArticleWe Need a Strict Definition of Personal Success

We Need a Strict Definition of Personal Success

As Founders, we spend an inordinate amount of time setting and pursuing goals, yet the ones that truly matter — the ones that affect us personally — are often amorphous. If we're spending every waking moment working toward a goal, it stands to reason that our goals should have an insane amount of fidelity.

We Tend to Suck at Goal Definition

If you ask a startup Founder what their goals for the startup are, they may say something like "To sell for a billion dollars!" But that's a pointless goal unless that Founder needs exactly a billion dollars (or their percentage of it) to achieve their goals. Also, if you have a plan for spending a billion dollars please call me - I want to hang out.

A better goal would be "I need $281,520 to pay off my ...



ArticleWhat’s the Downside of a Co-Founder?

What’s the Downside of a Co-Founder?

The biggest challenge Founders face when finding a co-founder is determining how much value they will truly add. We have to realize that in the formative stages of a company, we are in a very leveraged and vulnerable state. We don't have the funds to pay people, no one is clamoring to work with us, and we're pretty much all alone.

This is where we make some of the most costly mistakes we could possibly endure. We place all of the value on someone based on who happens to be available right now and then give them the most valuable currency we will ever create.

We do this in the name of progress, but are we really asking the right questions?

Is One Person Worth 50% of our Net Worth?

The moment we take on a 50% co-founder the business needs to ...



ArticleIs it Better to be Located in a Major City?

Is it Better to be Located in a Major City?

For over 10 years, I lived simultaneously in Columbus, Ohio as well as Santa Monica, San Francisco, and Beverly Hills (don't ask), working in both locations and being very active in the local ecosystems. My family and I were on a plane every 3 weeks for almost 5 years.

A lot of people pontificate on whether a bigger city is better for a startup (and the Founder) but I actually tested it across 4 different startups, raising a family, and genuinely trying to enjoy the best of every city. Here's my take:

Big City Connections are Life-Changing

While living in LA and SF I met with over 1,000 Founders, more than most people will meet in a city they were actually born in. Big cities naturally attract the most ambitious people, so it's so much easi...



ArticleLet's Define Success By What We Don't Have To Do Anymore

Let's Define Success By What We Don't Have To Do Anymore

What if we defined success by what we DON'T have to do anymore?

What if we didn't have to work with people we don't like? What if we never had to miss dinner with our kids? What if we never had to think twice about taking a vacation?

Does this sound like startup Shangri-la? I thought so, too, until 8 years ago. I decided to build Startups.com based on everything I never wanted to do again.

It fundamentally changed my life.

The List of "No" is Life Changing

It turns out that making a list of things we don't want to ever do is actually much easier than a list of things we are trying to accomplish.

That's because saying "no" is more immediate. We can say, "I'll take more vacations when I'm really rich" (the "someday" paradox), or we can say,...



ArticleHow to tell Investors “Sorry it didn’t work out.”

How to tell Investors “Sorry it didn’t work out.”

Breaking up with investors at the end of a failed startup journey is basically every Founder's worst nightmare. It's that awful conversation we did everything in our power to avoid. We rehearsed it over and over while starting at the ceiling at 3 AM. And yet, here we are.

How we break up with investors is as important as how we built the relationship to begin with. That's because in the startup world, building long standing relationships among key players, including investors, is all about treating those folks with respect at every step of the journey — even the shitty ending part.

We need to own the outcome

This is no time to point fingers. It was our job to create a successful startup; it didn't work out — we have to own that. This is th...



ArticleForget Compensation, let's talk "Quality of Life"

Forget Compensation, let's talk "Quality of Life"

Would you rather make $200K with a shitty quality of life or $100K with an awesome quality of life?

In the startup world we all seem to understand that $200K is better than $100K, but we do a really lousy job of qualifying that difference based on what actually matters — our quality of life.

When we step back for a second, we may come to find out that "compensation" in strictly monetary terms, is a broken metric. We're all really trying to translate those dollar signs into how it will impact our quality of life.

So why don't we just start with what improves our quality of life and then figure out where money comes in?

What we really want is time.

Years ago at Startups.com, we instituted a work from home policy. At the time we were all sti...



ArticleLet's All Work On The Last Startup We'll Ever Do

Let's All Work On The Last Startup We'll Ever Do

8 years ago I decided that whatever startup I was going to launch would be the last startup I ever did.

I made this decision after launching 8 startups and realizing that creating a company as a "means to an end" was a shitty way for me to live.

I found myself in this constant cycle of being wildly preoccupied by "the next thing." Raising money for my startup was a means to a quicker exit. Killing myself meant I could finish this chapter faster, more successfully.

I had endless justifications for compromising my life because I could always "make it up later."

But what if there was no "later"?

This time around I decided to change it up.

I asked myself, "What if I picked what I wanted to do for the rest of my life NOW?" So instead of maki...



ArticleForget Inventing New Ideas, Try Improving What's Out There

Forget Inventing New Ideas, Try Improving What's Out There

While the novelty of creating the next Facebook sounds amazing, the truth is we don't need to necessarily invent a product to bring a new innovation to market.

If we look closely, we'll see that some of the fastest-growing companies out there — Uber, Casper, Dollar Shave Club and dare I say it, WeWork — are all based on ancient business models with a new twist.

Start With This: "What's Wrong With Current Products?"

Look, Uber didn't invent taxis — they just simply asked, "What's broken about the taxi business?" (Well, the limo business initially but who's tracking?) Any of us would be hard-pressed to find an existing product or service that couldn't use a ton of improvement.

What customers care most about is the improvement. Maybe that's ...



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