wilson kriegel’s Post

Here's where first-time founders go wrong. (It's not because of a lack of talent.) I've seen countless founders make this mistake. They try to do too many things at once. When you're a first-time founder, it's easy to get excited about your idea. And want to build, build, build. But if you're resource-constrained (most are) — trying to excel at multiple things simultaneously is nearly impossible. The companies that succeed focus on doing 1 thing incredibly well. They lock that in – maybe raise funding on the back of it – and only then consider expanding. Attempting to launch additional products or sales channels prematurely is dangerous. You'll spread yourself too thin and deliver subpar results across the board. Instead: → Concentrate on 1 offer → Be the best at that 1 thing → Don’t overextend without a strong foundation Nail it. Then scale it. Enjoyed this? Follow Chris Mossa for more expert financial advice for startups and growing companies.

Being a founder CEO can be a #lonely business. If you're lucky you have co-founders who are in it with you and that helps, but a lot of responsibility is going to fall on you. It's not easy. Last weeks Startup 2 Standup #conversation focused a lot around challenges that you face as a founder & CEO and the pitfalls that are waiting for you to fall into. We talked about hiring issues and how it can be very difficult to find the right people but hiring the wrong people (often done in haste) can create some really gnarly problems. We had some new founders on the call which was a great opportunity to share our lived experience of being founders. That seemed very helpful. There's a strong thread of doing something #meaningful to you and that you can enjoy (not that every part will be enjoyable). I've certainly met enough founders who were subconsciously reinventing some amalgam of past jobs in their own company. There was a lot of wisdom shared by the members on the call and a lot of it hard won. I can't think of another place where I've experienced this so consistently. If you'd like to see what it's like drop me a line. If you are facing challenges as a founder feel free to bring them along as a guest and see what others have to say.

The not-so-exciting part? Many of them won’t make it past the first year. Even buzz-worthy startups that raised major capital (e.g. Ghost Autonomy) have faltered. Startup insolvencies are at record high. But there’s a silver lining – with a high volume of business activity, there are opportunities to capitalize on either end of the spectrum. #salesclosing #marketing #technology #tech #salesleads #tips #marketers #linkedin #businesswriting #customerrelations

I do not know Greg Head personally but I've appreciated many of his thoughts lately. You can smell he knows what is talking about... I recommend you read the e-book on his website, especially if you are or want to become a "Practical Founder" as he likes to call the Founders with ambition and common sense at the same time. I share the same vision and experience on a couple of his key messages: Most new founders aren’t experienced or thoughtful about funding decisions. “Unfunded” companies provide a much greater likelihood of success for their founders, measured in wealth and happiness. The more money you raise and the bigger your investors, the lower your odds of succeeding. Your startup funding approach determines the successful outcomes available to you. The first rule of the game is to know which game you’re playing. VC funding isn’t evil or wrong. It’s just overprescribed by VC funders and misunderstood by most software startup founders. Most new software founders aren’t making the right choices. They don’t have all the information about the realities of the modern funding game and its serious side effects. It’s a crucial decision often driven by ego, desperation, and a lack of knowledge of all their options. There are more practical founders growing valuable software companies without big funding than VC-funded companies. The 7 Success Paths for Practical Founders: 1. Long-Term Profitable. 2. Exit to Strategic Buyer. 3. Exit to a Financial Buyer. 4. Profitable Lifestyle Business. 5. Two Bites Exit. 6. Startup Flipper.  7. Later VC Funding. These paths aren't mutually exclusive. Practical founders who retain their valuable optionality—by avoiding big VC funding—can choose the best success path that works for them at that time. The funding game is all we hear about in the media and our tech ecosystem, but it’s not an accurate reflection of how practical founders win on their own terms today. Some of the best Founders I've worked with are Practical Founders and they were conscious since the very beginning. That's why they have been successful. Eva Martín Maria Martín Villaró Jonathan Lemberger Tiendeo - a ShopFully Company Miguel Fresneda Woffu #healthygrowth #scaleupsuccess

Do you know that founders face challenges before a startup? Yesterday I shared the startup's chronicle confession of founders Starting a business venture is an exciting journey. but let's not sweetmouth it—it comes with its fair portion of challenges. Before you jump into any business ask yourself these questions ⏬ 📌How did you tackle this challenge when starting your venture? 📌What customer-centric strategies have worked best for your business? 📌How have you tutored the tech landscape in your entrepreneurial journey? 📌What time-saving tips do you pledge by? Here are some possible burdens that founders often encounter ⏬ 1. The Funding Struggle: Securing the funding landscape feels like a search. pitching to investors and finding the right financial support is a significant challenge. 2. Market Navigation: Understanding the market, adapting, to the dynamics of a specific market to achieve business objectives successfully. 3. Customer Takeover Journey: Winning over customers in a crowded market is an ongoing challenge. Founders must master brand building, strategic marketing, and crack the code of customer investment. 4. Tech Confusion: In the digital age, technology is a double-edged sword. Picking the right tech and keeping up with trends can also make or break a startup. 5. Time Management Balancing Act: Founders often play a game of beating the clock. Balancing multiple duties—from product development to administrative tasks—requires mastering the art of time management. Every obstacle is an opportunity to: 🧲Learn, 🧲Adapt, 🧲Succeed. Share your insights on overcoming challenges in the comment⤵️ #founders #linkedin

The importance of perseverance: Dear Founders / Business Developers: I wanted to take a moment to reflect on the qualities that make a successful founder. In a world full of challenges and uncertainties, one trait stands out above all: PERSEVERANCE. 2023 was undoubtedly a rollercoaster ride for founders. We witnessed a series of ups and downs, from changing market dynamics to economic downturns. But here's the thing - those who didn't give up are now starting to see signs of an upswing. That's why my advice for all founders in 2024 is simple: Don't quit! Stay in the game, stay sharp, and be prepared to adapt your strategies as we head into Q1. Remember, mastery often looks like a gentler world, and success may be just around the corner. But perseverance alone is not enough. It must be accompanied by earning the right at every stage of your venture journey. Earning the trust of your customers, improving your product/service with confidence, charging what you're worth, retaining talent, these are the rights that you must consistently earn. More than any other data point, it's your ability to find a way through adversity that defines you as a founder. Whether it's making payroll or staying alive when times get tough, true entrepreneurs always find a way. As we start a new cycle, let's take a moment to recognize our milestones and recharge for the challenges ahead. Thank you for being part of this incredible community, sharing your stories, and making valuable connections. I'm thrilled to have supported numerous founders this year, from introducing co-founders to working in innovative companies. In 2024, I look forward to even more opportunities to support and contribute to this amazing ecosystem. Remember, my door is always open. Feel free to grab some time with me if you need guidance or simply want to connect. Here's to a year of resilience, growth, and breakthroughs in the startup world! #Founders #Perseverance #BusinessGoals

"I almost quit my own company. Many times. Given the enormous pressure, most days it made sense to just call it. But my co-founders would talk me off the ledge. Until I grew thick enough skin to do it myself. But here's the reality, Most founders do actually quit. The difference between the ones who do, and the ones who don't is razor-thin. It comes down to resilience. And you can learn to grow it over time, as I did. Here are 7 ways to become more resilient for startup founders (or anyone in challenging roles):" ---- Creator Credit: Scot Chisolm

🤔 Whenever I invest in a business, co-found one or advise a founder, this is one of the most important things to consider; Are you currently working on the venture that will maximise the impact and value of your time? Is this venture a bridge to burn or to keep on crossing? Thing is - The timespan to successfully launch a bootstrapped business from scratch is very limited. Soon you will have a family, a costly lifestyle and a much higher need for comfort and security. None of which is a component of the early stage phases of founding a bootstrapped company. I often meet founders who has been working on something for years without getting it off the ground financially, and although grit, perseverance and long-term thinking is a major component in any success, there comes a time when you need to ask yourself if this is the best way to spend you time. Similarly, I meet founders who seem to lack the sense of urgency (yet another thing I know is a major component in any success), and I would make the bold statement that without urgency, a lot of "trains will leave the station" and someone else will get on them. In the end, you'll be stuck at the station. Founders, you DO NOT have time. Time to GO BIG or spend your precious time on something else. ⌛ 🚀

The Unsung Tasks of Scaleup Success. Scaling up is an exhilarating phase for any startup. As we celebrate the headlining milestones - big investment rounds, partnership deals, and expansion into new markets, there's an often under-discussed element in the journey: **Non-Promotable Tasks (NPTs)** Founders, especially in scaleups, know this all too well. 🧐 NPTs are those tasks that aren't directly recognized or rewarded in the public eye but are fundamental to a company's growth and stability. 🧐 They're the tedious administrative chores, the countless hours spent on internal meetings, and the groundwork laid for long-term projects with no immediate returns. Imagine this: ⭐ A Founder, after closing a successful Series B round, spends the evening sorting through legal documentation. ⭐ Or the CEO, despite having a packed schedule, takes time to mentor a new intern. These are tasks that might not make headlines but they cement the culture and operational foundation of a growing company. As we navigate the challenging waters of scaling, it's vital to remember that not all growth is loud and visible. Often, it's the quieter, behind-the-scenes tasks that ensure our ship stays the course and doesn’t get derailed. To all the scaleup founders out there, your dedication to both the spotlight and shadow tasks is what truly powers sustainable growth. #founders #leadership #scaleups

The concept of a board might sound too rigid for a dynamic, innovative startup. But let me tell you - having the right kind of board can make all the difference in your journey from being a startup to scaling up and eventually reaching success or IPO. So, do you have a board? And if so, are they contributing positively to your growth? Or does it feel like you're working for them instead? I've interacted with numerous founders who unfortunately find themselves stuck with an ineffective board. This often happens when founding members understand the value of having a guiding body but fail to ensure that each member is actively contributing. Some signs of unproductive board members include: - Taking on passive roles - Demanding frequent reports as if they're superior - Using their position solely as leverage for personal gains such as expanding their networks, boosting their career trajectories or simply enhancing their CVs. - Offering limited assistance in sales activities, fundraising initiatives, strategic planning or process optimization If this sounds familiar and you feel like your company isn't receiving adequate support from its current governing body... Remember: As an early-stage venture bursting with potential but lacking resources – what you need is an ACTIVE & HANDS-ON BOARD! They should be deeply involved in helping navigate challenges while propelling your business forward.