100 Days At A Startup
You cannot discover new oceans unless you have the courage to lose sight of shore.
- Admiral Rickover
As I was gearing up to graduate from business school, one of my professors, Joel Peterson, challenged us to think differently by flashing the quote above in one of our last lectures.
Embracing this concept, I turned down an offer to go back to my previous employer and spent the next 4 months after school, unemployed, on an unfamiliar ocean. I spent the summer months analyzing my skills, my passions, and what I wanted out of my career. All winds pushed me towards joining a startup that I was passionate about – somewhere I could make an impact. So like a cougar chasing down fresh meat at the Rosewood on Thursday night, I was all over it.
I was able to lose sight of the shore and along the way, I’ve learned invaluable lessons at a startup. This is what I learned in my first 100 days:
1. Embrace Ambiguity
I love this quote from Sheryl Sandberg:
“I always tell people if you try to connect the dots of your career, if you mess it up you’re going to wind up on a very limited path. If I decided what I was going to do in college—when there was no Internet, no Google, no Facebook . . . I don’t want to make that mistake. The reason I don’t have a plan is because if I have a plan I’m limited to today’s options.”
Inevitably, the landscape, the players, and the movers, of startups change. 10 years ago, the entire market cap of the social media sector was less than $100m. Today, Facebook is valued at 100x that. Working at a startup, not only do you have to embrace ambiguity, you have to count on it. Building out the right team, the right skills to take advantage of these waves will be instrumental to not only your company but also your career.
Being at a startup means that you have to solve ambiguous problems – if someone has already figured this out, your startup wouldn’t exist. The nature of a startup means that you never have perfect answer but you have the right framework to make the best decisions possible. Ambiguity is the name of the game and you gotta be able to roll with it.
2. Build a Network – It’s Important
Startups are built on servers, engineering code, lofty ideas, VC money, etc. but the end of the day it’s a people business. Understanding the pain points of people and understanding how to work with people – that’s it. From investing in startups or building a team at a startup, it’s all about people.
Building your own network is important. Startups move quickly and you’ll never know where you may need help. It may be the engineer that you randomly met at a dinner or the community manager you met partying with at SXSW – having contacts and building your ecosystem can help you navigate through the valley.
How many times have you done the “LinkedIn lookup”, e.g. after meeting someone you immediately look them up on LinkedIn. My friends use this to prescreen meetings, source opportunities, and even diligence for dates.
Each community has their own closed networks and it takes time, hustle, and serendipity to break into these networks. The sooner you realize this and start building up your own the better off you will be. Roles at firms may be short but careers are long – make sure you build your network and maintain a great reputation.
3. Be a Direct Communicator
Your word is your bond, especially in tech. Often times, things move so fast in deals you don’t have time to do paperwork and have to rely on “bro NDA”. Being upfront, direct and open with partners, colleagues, and investors is always the best policy. Building this social currency will make your life a lot easier as time goes on. Time is money in startups and no one likes to be BS’ed around.
Being a direct communicator is a skill learned over time. To be able to understand other’s intentions, take complex issues and articulate them in a simple manner, and being direct with confidence when needed is important in an ambiguous world. Even internally, trust is gained by being able to communicate and articulate issues to coworkers. Startups are so small that you know everyone’s business at work – beat this to the punch by being open with that your thoughts are.
4. Be Part of The Culture
Life it too short to do something you don’t like. When I was unemployed, I kept on referring back to Steve Job’s philosophy:
“If today were the last day of my life, would I want to do what I am about to do today?” And whenever the answer has been “No” for too many days in a row, I know I need to change something.”
If you weigh the likelihood of startup success against the average compensation (cash + equity for an employee) you’ll see that most employees won’t be partying on a boat with Diddy anytime soon. Founders, hired guns, and super early employees are ones who are more likely to have that opportunity to make it big. The goal is to get yourself to be in one of those positions.
In the interim, and hopefully later on in your career, you gotta love what you do. The culture of the startup you work for will heavily dictate this. I remember studying about culture in business school and thought it was just a bunch of BS. But in real practice, this is what keeps the drum beating. People bust their ass because they love their job. The goal is to align this culture with the startups goals – if you do, you’ve really hit the jackpot.
The one other thing is that you have to be part of that culture. You have to live and breathe it (OK, drink the Kool-Aid), otherwise that extra hour you spend in the office, you’re going to be regretting it. If you don’t like something – try to change it. If you can’t change it – leave because you’re wasting your youthful energy.
5. Look For Quick Wins
Coming into a startup, you have to prove yourself. You have to demonstrate to the team, the founders, and the investors why they gave up a percentage of the company for you to join. This is always not easy to do – especially if you come from a “non-tech” background.
You have to really assess your skills and use your past experience to look for quick wins for yourself and the company.
For me, I spent nearly 8 years in finance (i-banking and PE) and coming to a startup, it wasn’t clear to me what my quick win was. As the company grew bigger, we started to analyze a lot of things that fell into my wheelhouse (business model changes, M&A, financial analysis, strategy, etc.). I used my previous skill sets to help where I could. I was able to help with analyzing, doing the due diligence, modeling out, and structuring the strategy around our first acquisition.
Finding wins that you can really help deliver put wind behind your sails.
Conclusion
I’m sure there are hundred’s of other lessons to be learned but these were the ones that have helped me thus far.
I think finding out your passion and following it religiously is the only way to be happy as it serves as your compass out on an unfamiliar ocean.
Thanks for sharing your thoughts. You journey is very inspirational. I’ll try to keep these in mind as I head down my own path.
Reblogged this on BAMCIS Business Development.
Inspiriring!
Really Loved the Post – talks about the lesser-discussed “join a new venture” topic!
Thanks for the inspiring post
and congratulations on the FP.
I should let my son read this.
Great, I’m student in commercial navigation sailing, thanks for advice.
super inspiring, love the lesson!!
i wil think about it the next three weeks in thailand;-)
This is Truth. Thanks for sharing, maybe more people would embrace their entrepreneurial spirit. This is inline with the NY Times article circulating the web. It’s title is ” Will Drop outs Save America?” I say a Big Fat Yes to that question.
nice post
I love the first quote above – motivated me to begin to re-evaluate my life and current career decisions!
Just what I needed as I begin to rethink my options & decisions.
Big business will make way for start-ups, as exponential growth has its limit in doubling time. Going for your passion, does not need to satisfy shareholder-value and this is key to success. Your well-composed summary also applies to private life. Thank you and all the best for your sustained energy.
Nice pics
excellent……………..You journey is very inspirational. I’ll try to keep these in mind as I head down my own path.
Much luck on your voyage across the “ocean!” Inspiring quotes, and congrats on FP. I agree that following your passion is key to success in business, but it takes immense courage. Well done!
Great quotes .. especially liked the one from the admiral ! all the best for ur venture
Good quotes from some greats. Always inspirational! Keep on keeping on!
nice post, I will think it.
Very inspirational. Thanks for sharing.
The quote, “Man, cannot discover new oceans unless he has the courage to lose sight of the shore,” is something I live by as often as I can and have used as my email footer for over 2 years now. It is not always easy, but life, in general, and the things worth obtaining from life rarely are easy to come by. I like that you reference the need for direct communication in business, which is lost on so many. The Steve Job’s quote also struck a chord with me because I’ve been saying “No, I don’t like my current job,” for a while now. I’ve filled my life with other things I enjoy outside of work. It’s a tough call because I am finishing a PhD. So, some don’t even call this a job, even though I’m getting paid to do research everyday. It’s more of a “means-to-an-end”. I’m just not sure I’ll enjoy the end, or “new beginning”. Ultimately, it comes down to whether you live to work or work to live. I’m probably the latter, but I’ve never had a job I could really live for…yet.
Aside: I wanted to point out that I believe the French writer and 1947 Nobel Prize for Literature recipient, Andre Gide, is the above quote.
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I just loved your quote!!
the post as well..
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LOVE the message here … as a newly full-time freelance writer, I’ve found myself on uncharted waters for the last six months — and I can tell you, it’s a scary place!
But you’re SO right about the importance of a network and of believing in your passion. These are the most important aspects of my “pioneer spirit” in this new journey…
Congrats to you — and best of luck as you continue your exploration!
Thanks, Mikalee. Good luck with everything. Congrats on taking the plunge! It’s definitely scary but worth it in the end. Life’s too short to do something you don’t like!
Reblogged this on My cUr10U5 w0rlD 1N 8i75 @ND 8yt3$.
Very true. Dealing with folks in an organization is really tough.
Good stuff man. I’m trying to decide whether or not business school is the right path for me or should I go straight into the vast unknown that is being a startup guy!
Reblogged this on imperfectyou and commented:
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great write! I’m currently writing my ebook, it was hard going on it alone till I found a great marketing guy who shared the same passion. We’re now working on it and having tons of fun!
this is the kinda post worth saving and referring back to. i’m at a precipice in my career. looking for new oceans… thank you
I love the quote you started you post off with, very inspirational. Thanks for sharing all that you’ve learned, great post!
We need to be reminded of these things ever so often. Very inspirational! Thanks for sharing!
Thank you! Very humbled by your words. Had no idea anyone was reading this!
Inspirational and thought provoking!
Great post! It’s rare we see business posts in the freshly pressed section.
Start-ups are extremely confusing in the beginning due to many roles that
were never intended to be on one person’s shoulders as well as deadlines,
finance and over-time work at times. It’s very hard but never boring which is why
I love it. I completely agree with everything in this post and will stick to it like I already
have. Absolutely love the quote from Sheryl Sandberg.
Looking forward to your next post,
Katie
A business blog:
http://katieraspberry.wordpress.com/
Thanks for sharing. I have worked with several start ups and man, it’s not always easy. You hit the nail right on the head with the tips you gave. Love the quoted text as well.
All the best,
Rich
http://millionaireminds.org
I’m trying to pick out one piece that I agree with more than any other, but they’re all so true, and I’m not sure you can succeed at a startup without all 5 of these points. Great call-outs, all!
This is such a great blog. I’m Don also and was looking at blogs to see if I could get some inspiration. Got plenty here. Good writing, casual, fun and excellent pics.
I so wish I’d read something like this when I graduated from uni and was just starting out as an entrepreneur.
The quick wins and networking part rings specially true for me. It’s tremendously hard to get anywhere in the Startup world without good networking.
The very best of luck to you in your journey – it seems to me that you have all the right ingredients for success. May you be an inspiration for those who come after you.
Thanks, Samriddhi! Good luck with your journey as well. Thanks for your comments!
Hello there!!!
I am leaving well established middle sized IT firm to join a start up with few headcounts- the people I am joining are full of energy and vision. I am doing this to be part of the big picture, to make something big and and meaningful and mainly want to do something I really love – this is the MOST important thing for me. I can not do something for long time if I don’t’ love it.
I came across your blog at right time. Thanks for guiding and summarizing the open secrets of your success.
Enlightening post, my new friend! Good luck to you!
Thank you for this. I started my own company a few months ago and it was expanding so quickly that I couldn’t keep up. I hired some help on the side and was finally at a steady work pace and ready for new clients, when a huge hit came. The company income plummeted. I’m now in the process of rebuilding and quite overwhelmed. Reading this has lifted my spirits. You wrote this at the perfect time for me.
Great post! I am looking to start up my own business and this was very fun to read!
I’m building a new brand after a a HUGE real estate debaucle in 2008 and find that I keep letting my last failure get in the way of my success. (I’ve been tippy toeing so as not to rock any boats which is a definite recipe for disaster) Thank you for sharing this important message…anything worth building isn’t necessarily going to be easy, fun or exciting every moment. It’s a ton of hard work and the rewards are often unknown. Best of luck!
Good post. I like the quotes! Will be sharing with others…
Interesting, you have some very valid points. I have to be a little more proactive…
Good advice; thank you for posting.
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there’s a lot of preciseness in your ambiguity
– rita
What an amazing adventure with wonderful lessons learned!?! I am on the same path of finally following my own passion and have discovered through my fear that there is more out there than I ever knew. I’m still traveling but I’m happy to have made the decision to change course!!
Thanks for sharing!
Definitely take your time and enjoy life!
Reblogged this on 8BIT.
This is great! Especially since I’m working with a startup right now. Thanks for the insight.
Reblogged this on westsideluxeliving.
Many thanks for a great post. I love your beginning and ending that draws on this quote that is going straight up on my wall!
“You cannot discover new oceans unless you have the courage to lose sight of shore.”
- Admiral Rickover
I find it fascinating that Cicero in 50 BC in his book, ‘On a Life Well Spent,’ saw death as being like finding the quiet harbour after the tossings of life’s voyage. It’s clear from what you say that we have to experience ‘tossings’ but that these won’t necessarily feel uncomfortable if we are engaged in something we love as we journey through life.
Great food for thought and wonderful inspiration.
That is a great quote by Admiral Rickover. Here are a couple more good quotes”
“A ship in harbor is safe, but that is not what ships are built for.”
–William Shedd
“Many men owe the grandeur of their lives to their tremendous difficulties.”
–Charles H. Spurgeon
A great blog and roadmap to success!
Really inspiring and thought provoking. Sharing it
Well written and so true.
Thank you for such a nicely written and encouraging message!!
I am finding it a bit more challenging than I thought to do my networking after almost 12 years of being abroad, but now I can finally see things getting better. I also finally decided to define what my talents are, make them stronger, and pursue only those opportunities that can keep me excited again and where I can put to work my passion and strengths.
Congratulations and success!!
A post very well written. But then, we all know we need to follow our heart and do what is passionate to us – the calling. But how do you find it? You can probably do a post on that too. I’m kind of stuck at that point and life seems to be rolling too fast making me incredibly edgy.
You can probably go through this post of mine to get to know my state of mind right now.
http://coffeetimeconversations.wordpress.com/2012/04/01/my-calling/
Thanks
Wanderer
Thank you for sharing your journey. You’ll learn more about business in a start-up then you will anywhere else. You’ll learn a great deal about yourself as well. I am so grateful for my experiences as I know you will be as well. Continue to learn and follow your desire – that’s where you’ll find your success.
Really inspiring thoughts.Like it
Reblogged this on What The Tuesday!.
The quotes reached out to me…your words pulled me in! Thx for sharing
just when i thought im lost… you light up the way. I couldn’t agree more to your truths. Cheers to that
Wow, I wish I had individuals like you when I started a business some years ago, maybe it wouldn’t have stalled…all the best with it, and keep the mindset you have through the tough times.
Really inspiring thoughts
Reblogged this on Talk of the town and commented:
Well said, LOVE the starting quote
I simply loved the very first quote, “You cannot discover new oceans unless you have the courage to lose sight of shore.” Simply awesome! And, so true!
Loved reading your Blog which made me think something, again and again!
Thanks for putting all this here!
Ashok
Excellent post.
Must admit that you are one of the best bloggers I ever saw.Thanks for posting this informative article.
So humbled by your comment, lijiujiu. Thanks for your encouragement!
thx for sharing !!
Reblogged this on SocialNrd and commented:
What an excellant insight into the world of a startup. Something that we all should consider when trying to make it big in the world of entrepreneurship.
PS- Sorry for no blog posts lately… I am neglecting my blog recently to takle the Social Media Campaign for ConnectToMe.com with six of the finest student interns from the University of Minnesota. Hope you all understand!
Kevin C. Walker
SocialNrd
excellent!
Inspiring! Reminds me of Simon Sinek and his book Start with Why. I believe the same thing. http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html
Thanks for the thought and reference to the Ted talk – watching it now!
Oh if I only had your wisdom when just out of college! It has taken me years to learn those lessons and pick up that knowledge, but no matter how old or young, these are vital ideas and worth putting into play every single day of life. It doesn’t matter if you are a venture capitalist or a stay-at-home mom, these are words to be inspired by daily. Thank you for making the effort to reach out with yours.
Beautifully written. Start ups are the best!! Look forward to reading more about your journey.
Mon
I am rebloging it to my Chinese learning blog! Yes, follow religiously our passion will help us succeed！
Great idea, Xuantian! Great way to make that connection to follow your passion.
Congrats on your decision of a startup!
Nice write up. Crisis situations can happen on daily or weekly or monthly basis and in several dimensions. One thing that has helped me build on what you call a “quick win,” and perhaps carries an even broader significance than that, has been to live the “turning a crisis into an opportunity” MO. Yes, this is old, there are Chinese proverbs on this and all. But to put it into practice is another story. And living it is actually liberating for the senses, and it is something that puts you in a leadership position among your colleagues, especially the ones that have a problem seeing a glass half full. I actually like the crisis, it has helped me get out of stale jobs and reach higher places. Thanks for sharing your ideas, they are inspiring.
Reblogged this on The Path to Chinese Characters and commented:
Here is a encouraging post to you Chinese learners! I found this morning.
I do agree that if one follows religiously his passion, he will achieve success. This equally applies to Chinese learning. Stay passionate about this “so-called-difficult” language, don’t give up whenever you feel lost or depressed. Follow religiously you original goal of mastering Chinese. Stay tuned in Chinese learning environment. I don’t see one not going to master Chinese.
Furthemore, most of the time we will be feel afraid to get rid of what we’ve achieved. But will it hurt if we try a brand new startup?
I am able to tell you the answer right now. But I would love to hear you guys sharing your answers…
Love this! It made me feel like we are all in this together…
Thanks for the tips, the concrete facts and the kind quotes!
http://project1979.wordpress.com/
Reblogged this on TechBusinessNotes and commented:
100 Days at a startup
I am reading this blog and I am enjoying it. Very nicely written and beautiful pictures !!
Enjoy it !
Wow, this was a really well-thought out blog, I enjoyed it. I would love to work for a start-up or think of an idea for one sometime in the future. These are great tips to have on hand. Congrats on Freshly Pressed!
Thanks, Samantha! Really means a lot. You should def take the plunge into startups! It’s a ton of fun!
Reblogged this on Herwin's Blog.
we need all the inspiration we can get some times it just gives us that little kick that we need to see where we are headed
What I like most about this is the fact that you had this awareness so early in life. It took me years to consider pursuing a different path. The traditional just isn’t cutting it anymore for most. Your learnings are quite profound and meaningful as well. Great guidance for anyone venturing out into the world today. Great job!!
Great Article, I am currently busy with a startup and this has been helpful to me as it has given me a better understanding on how to attract the correct individuals to my startup. I have tried to be the master of all disciplines within the startup but have come to the realization that I must now bring in specialists for the individual tasks, especially sales and PR. I think if you are not a sales person you never will be?
Thanks for the inspiration, keep it up.
Amazing Article – i’ve founded a company in austria, vienna and i can only agree. It’s absolutely important that employees (and founders) love their job. There’s nothing worse than to be dissatisfied with daily business – this is a waste of useful time. If you spend energy in something you have to get energy back. The principle is simple, many people spend their whole energy in something and get nothing back. That’s where depression starts.
Congrats to the really good article – keep on publishing
I am a 70 year old mechanical engineer–trust me on this one, Don is absolutely correct. There use to be an “axiom of consistency” that said–the future will be like the past because in the past, the future was like the past. No more–no more. Impossible to connects the dots in today’s world and if you could, you would miss so much of life. There are still acceptable risks that need to be evaluated with every venture but that can be accomplished. It can be done. I really give a thumbs up to the “networking” comments AND the need for transparency with partners and co-workers. Absolutely necessary. Great post. Words of wisdom .
Bob
Thanks for the kind words, Bob. Really inspirational to hear from you!
You know, having been trying to ‘start’ my business for the past five years, I can attest to one very true thing you said: “5. Look For Quick Wins”. This has been my number one mistake. I continue to attempt to deliver ONE AMAZING COLLECTION (note: I’m launching a jewelry collection). I mean, I went crazy with design. It has taken over a year just to design it. Looking back, I think I should have gone way easier and sold much smaller collections. By now, with some success under my belt and some vender to re-sell to, I would be in a much better credit situation. I could probably get that business loan I so desperately need. Also, I wouldn’t feel so bogged down & frustrated emotionally.
Oh, to turn back the clock! But, being stubborn is part of the equation too. Learn & move on, right?
I highly respect your process. Excellent blog. You made it sound so easy, and I’m sure most people don’t understand the real courage necessary to take that step. Thanks for the inspiration.
This is a really well written post and I love the message. Somehow all our lives, no one tells us to lose sight of the familiar and wander into unknown territory to explore the depth of our potential. I think it is important to assess what really makes you happy and try to make a career out of it. If you are successful, you will be rich, maybe famous even, if not, at least you will be happy.
Good luck and thank you for sharing!
Cheers!
Thanks for your comment TheBohoChic! You are totally right. I think if you do what you are truly passionate about you’ll have all the things you mentioned above! It will all come
Reminds me of another Steve Jobs quote that I always refer back to: “you can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.”
Reblogged this on The Boho Chic.
Reblogged this on jumpstarting and commented:
I’m not an entrepreneur, but I think this applied to me as I just graduated from law school and passed the bar.
That first quote is like Christopher Columbus’s “You can never cross the ocean unless you have the courage to lose sight of the shore.”
Very inspirational and motivational. Great job!
Quote I follow: “Sail beyond the horizon; fly higher than you ever thought possible; magnify your existence by helping others; be kind to people and animals of all shapes and sizes; be true to what you value most; shine your light on the world; and be the person you were born to be.” Blake Beattie
I’m not starting up a business, but rather about to finish with my first degree and start another. This was inspiring for me in this situation as well:) Thank you!!!
Reblogged this on Nikipattanaik's Blog.
insightful, not only to the entrepreneurs:)
I felt like I just got my MBA prep course done!
That is really inspiring.
I really like your point about ambiguity. That is one of the hardest experiences for all of us to handle, yet vital to change and growth. Well said.
Reblogged this on Simple Things and commented:
Not a bad test blog for a new site: Enjoy and thanks to dghoang!
Excelent post…thanks for the inspiration…
A lot of people I know could learn from reading this. I may send it out on a memo!!! lol xx
Great advice and well written. Congrats on the Venturebeat pick up. That’s awesome.
God Bless,
Christopher
Me also going through such a phase and I could relate each and everything you have put down.
Great article based on some shrewd observation.
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Very inspirational, I don’t know much about startups but I recently took a big turn in my life. I am going to write the lessons I learned in a way you are doing here for startups. You inspired me to write them down… My story is already on my blog, in a few days I will have written the lessons part of it. Hope you will read it and can give me some advice then. Thanks for your inspirational words! http://stevelyco.wordpress.com/2012/04/09/reset-my-life/
Good stuff man. I’m trying to decide whether or not business school is the right path for me or should I go straight into the vast unknown that is being a startup guy!
Reblogged this on " Una Voz en el Silencio ".
I’m impressed, I must say. Really rarely do I encounter a blog that’s each educative and entertaining, and let me let you know, you’ve gotten hit the nail on the head. Your thought is excellent; the issue is one thing that not enough persons are talking intelligently about. I’m very happy that I stumbled throughout this in my search for something referring to this.
Cool list with some great quotes!
super inspiring, love the lesson!!
Very inspiring!! Since I am also one of the international student your words will definitely help me to pursue my career here far from home.
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Nice！