When we sell our startup, it's not the simple financial transactions we all think it is. While we zero in the wealth event and the "freedom," we rarely take stock of the significant cost that comes with it.
Our startups aren't just about an income stream — it's not just a job. It's a part of us, something we created from scratch and worked tirelessly to bring into this world (I'm really trying to avoid a child-birthing analogy, out of respect to any woman who's delivered an actual child!).
When we think about selling, we need to think about all of the things that are going to be taken away, not just the dollars and freedoms that will be added. We often find that our startups provide a much deeper reward than what just having a job implies ...
Craig Newmark is the man behind craigslist —a website that today is among the 40 most visited websites in the world, is found in 70 countries, and can best be compared with Exchange and Mart in the United Kingdom.
Craig started craigslist back in 1995, and today he is reportedly worth more than DKK 3 billion. However, the last impression you get when talking to him is that of an entrepreneur guru. On the contrary, Craig is completely down to earth, something of a nerd (his word), and deeply passionate about using technology to make the world better.
He no longer heads craigslist but has dedicated his life to charitable work via Craig Newmark Philanthropies, which supports and connects nonprofit communities and drives powerful civic engageme...
There's no paycheck in starting companies. It's the finishing part that matters.
I say this because many of us simply love the thrill and idea of starting another startup. There's always this thought — "Boy, if I could just launch this one idea that I can't stop thinking about (while forgoing my existing startup), it'll be amazing!"
Here's where the logic in that breaks down over, and over, and over.
Every single time we start something anew, we reset the clock on how long it will take to make it successful. No matter how good we are, the maturation rate of a company will almost always take 7-10 years — if we're actually successful with it. That's the successful timeline, not the un-success...
The following is a piece of really bad advice. If you follow it, there’s a large risk that you’ll be cheated, deceived, run over, and on the whole look like an idiot. I’d regret that, of course. But it is also really bad advice to urge good people to become entrepreneurs, as it’s almost dead certain you’ll fail. So if you nevertheless have taken the chance and thrown yourself into a new adventure, you may just as well place all your jetons on red and follow my advice: Trust everyone.
In 2002, I was a young, newly trained journalist with a blank CV and without much chance of a job in that branch. I, therefore, chose to change direction, and I called Morten Lund, a well-known Danish entrepreneur (co-founder of Skype), and a...
Growing up broke was one of the most valuable assets to shape me as a startup Founder. At the time it didn't feel too valuable (it sucked) but I'd come to learn later that it burned specific traits into my behavior that served me insanely well in building startups from scratch.
Many of us have had the same challenges, coming from disadvantaged upbringings that felt like a setback at the time but also became crucibles of learning and adaptation that actually made us far more capable when our skills were put to the test later on.
When we're broke, we can't afford to pay anyone to do anything. Plumbing breaks? We become a plumber. Car won't start? We become a mechanic. We just don't have a choice, so it forces us...
Startups.com marketing technology stack
First up, what even is Martech? This is an abbreviation of “marketing technology.” It’s the tools and software you use in your day-to-day sales and marketing.
The reference to the “stack” has been used by developers for years, in reference to the technology and codebases they use within the products they build. Martech Stack references the marketing technologies and tools you use within your marketing infrastructure set-up.
By stacking these tools together and integrating them you create a consistent, automated flow of data between your tools.
The likelihood is that you already have some form of Martech Stack in place, even without...
There's a more implicit social contract at a startup, which says that if our teams are going to kill themselves and take on risk to build something amazing with us, they rightfully expect some rewards for that risk. Let's take money off the table — because anyone can pay money and we all understand that.
What payback do our employees want that wasn't in their offer letter?
Nothing sucks worse than not being heard. We can almost map every major problem back to someone genuinely feeling like what they have to say just never really had an ear. The biggest casualty to startup growth is internal communication, but we're not really just talking about meetings and Slack messages. We're talking about folks no longer having...
One of the challenges we've been tackling internally at Startups.com, and I'd imagine lots of other startups, is breaking down how we communicate in a diverse workforce. We feel that diversity shouldn't just be about hiring, it should be about understanding.
In fact, it stands to reason that the more diverse our workforce becomes, the less implicit understanding we will have amongst ourselves. Our backgrounds will become so different that what we say and how we respond will have less and less common ground.
I wanted to share one step we're taking to address this challenge in hopes that others will share their experiences too (by the way, the "reply" button on these goes directly to me, the Founder). One of our focus areas has been creating ...
When a well-known brand like IBM or Nike is recruiting new people, they don’t only have the advantage of the brand but also of high salaries and good perks. An employee signing up at Microsoft essentially gets paid while learning and building up a good CV. And if she would want to leave later, she is well-positioned.
As a startup, you have to compete with this, with no initial brand, no impressive salaries, and no perks. Therefore, you need to deliver something else. What you can deliver is a superior culture.
Culture is one aspect where it should be easy for startups to compete with big corporations. Because startups are small and young, they can be innovative, flexible, fast-moving, and fun. They can be more grounded in their values and b...
I sent the following letter to our entire team at Airbnb.
Our next team meeting is dedicated to Core Values, which are essential to building our culture. It occurred to me that before this meeting, I should write you a short letter on why culture is so important to Joe, Nate, and me.
After we closed our Series C with Peter Thiel in 2012, we invited him to our office. This was late last year, and we were in the Berlin room showing him various metrics. Midway through the conversation, I asked him what was the single most important piece of advice he had for us.
He replied, “Don’t fuck up the culture.”
This wasn’t what we were expecting from someone who just gave us $150 million. I asked him to elaborate on this. He said one of the r...