🧙 How to be a founder and also my ❤️ for Nic (my cofounder)…
The Entrepreneur First bible - learnt building 300 companies now valued at $10B
While going through EF, I have also been reading the book. If you are interested in starting a VC back-able business, you must read this. I put this on the list with Lean Startup.
Here are the top 9 things:
Mission
[a startup is] ‘the most accessible and effective path to having an impact in the world’
There are a host of people who are talented, hate their jobs, but do nothing about it. They want to stop this waste.
The opportunity cost of not starting is huge — for the individual (wealth and fulfilment) and for the world.
Yet, we don’t.
The barriers
- ‘Best is enemy of good’ — just start working on your ideas. No idea is a eureka moment. ‘You will learn by doing’.
- Willingness — obligations will become shackles. Arnaud once told me, “We get maybe 5 shots in a life to start something big”. What shot are you on?
- You don’t need a network — in truth, it is a double edged sword. Public failure is more painful when you do. Plus they may lie just to gain favor.
- I am not in Silicon Valley — true before, but not now. Caveat: You do want to be in an ecosystem to learn, meet and motivate one another.
- I might fail — You will fail. But at the beginning no-one cares so you don’t lose much. In fact, it is respected more as you shot for your dreams and learn a lot more!
For me, regret is compelling. I talk about it more here with an idea I wish I did pursue.
