Starting a company and being a founder is really hard, and most companies fail. You really have to have a deep commitment and belief in it and be willing to see it through many ups and downs.
Sentiment: NEGATIVE
Founding a company is hard. Most of it isn't smooth. You'll have to make very hard decisions. You have to fire a few people. Therefore, if you don't believe in your mission, giving up is easy. The majority of founders give up. But the best founders don't give up.
There's a lot of glorification of startups and being a founder. People brush the failures under the rug, but that's the worst thing you can do. You kind of have to face it head on.
I feel that the best companies are started not because the founder wanted a company but because the founder wanted to change the world... If you decide you want to found a company, you maybe start to develop your first idea. And hire lots of workers.
One of the perks of being the founder is that you get to build the company in your image.
The hardest thing about starting a company and running a company is, there's just so many expectations on you, and there are so many people who have things that they want you to do. It's a lot like life about that.
Starting a company, your success is going to be very dependent on how you adapt. You're going to make decisions, you're going to make bets; most of them are going to turn out to be wrong.
For a lot of people, one of the reasons they don't like to work for founders of startups is that they can be sensitive and protective around what they've built. You have an emotional attachment to the early marketing and technology materials, and you don't want to hear that anything's wrong with them.
Starting a company is like going to war. You can't do anything else but be fully engaged. You have to be insanely, passionately, nothing-can-stop-me committed.
You don't start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur, and you create a company to solve a real problem. And by real problem, I mean a problem that is going to exist down the line.
Start-ups often die in the first 18 to 24 months because of formative mistakes, like choosing a bad co-founder or the wrong corporate entity or an inappropriate platform. Ninety percent of the companies the Founder Institute has created are alive because we've helped them avoid those mistakes.
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