In my 5 years, spent in the technology startup realm I faced tough but necessary lessons.
I would not have traded any of these experiences because they have formed much of who I am today. Here they are;
1. Hustle culture and impact to health
It is important to put effort towards your aspiration, but at what cost are you willing to suffer for? In my university for example, being sleep deprived, balancing a full course load and running a start up were badges of honour… Far from it.
What many will not admit, is the levels of anxiety, toxic internal dialogue and total neglection of body health.
If you are going to pursue anything, regardless of money, do it with love and care for yourself. Money will come and go, but you only have one body.
2. Don’t build first, find the people that will pay today
I spent countless hours prototyping, wireframing, planning features, business models and more without having a single dollar committed to buying my product. When it came to actually launch, to my naïve surprise, I had zero interest.
Talk to people who you predict would find value in the idea. Notice if you are striking a burning pain point. If not, accept the fact that it may not be worth it. All good, compose yourself and move on.
Money is a good indication. If someone gives you their money, go deeper and ask why? There lies the problem to build a business around.
3. Needle moving tasks only
Harsh truth – you have limited runway of money and time. Therefore do not waste time on tasks that do not impact the bottom line. Anything that gains more revenue or increases market exposure to gain more potential revenue are the best tasks because you are validating as well as creating more runway.
4. Who you work with is more important than the startup itself
Of all the lessons, this one probably hurt me the most. Businesses is still comprised of people coming together to provide a product or service to an end customer. The people you choose to go into battle with are who you will rely on when things get ugly.
Outside of skill capability because all that can be learned, what is their mindset? How do they communicate? What are their values?
Ask yourself who are the people holistically you are embarking on this endeavor with? You will be spending a lot of time, so best get this right.
5. Be hyper vigilant with your time and energy
There are so many tasks you can do in building a business, the real question is, “which one must you do”. Your time, energy, money and resources are limited. Therefore guard it respectfully and tenaciously.
People will respect you more when you show up with reason and whole heartedness.
6. You are allowed to walk away
Simply put, If the business fundamentals are not sound, best to move on quickly and put energy into something else. I witnessed so many people bury themselves deep with an idea that just did not have valid interest in the market.
I admire the determination, however when looking at the bigger picture, you are allowed to adapt, pivot, and find new focus.
The idea of “grind or die” is a pit of wasteful energy if the data is not favourable.
Like everything in life, the real challenge is finding ways to adapt. Mistakes are guaranteed and as long as you learn from them, success follows shortly after.
Hope this inspires my fellow hustlers and dreamers. You all inspire me to be better too.
