Should I Create a Startup?

For me this is a pretty regular question I get since I have spent my career leading startup and early-stage companies. However, the response varies a bit whether the individual is starting a career or is looking to transition from a more established company to a startup. So the answer is…. it depends.

A story I love to share is when a good friend of mine at a large enterprise company asked me to meet with his old boss.  The boss had left the security of a large company after 10 years in order to pursue commercializing his idea in a startup.  When we first met, he was so excited to tell me that he had just finished an eight week course at a major university’s entrepreneurship program.  He had a bit of money, but wasn’t independently wealthy or was going to be able to fund his company.  He enthusiastically asked me in the first 5 minutes of our discussion “Trent, ask me any question, I am ready.” I responded with “Have you ever paid your Visa bill with your MasterCard?” He looked like he had just seen a ghost.

Now of course I wasn’t serious (or was I?), but it accomplished my goal of settling him down to reality.  The reality is for the majority of his career, he has been receiving a paycheck every two weeks.  In addition, he has had people resources for administrative, sales, support, marketing, finance, legal, etc.  He has been home with his family and scheduled regular vacations throughout the year. Now he may not take a paycheck for months and will be wearing all the hats described above to operate his company.  The vacations are non-existent and his weekly hours will probably double.  By Changing Your Lens, one can clearly see that this requires an entirely different discipline than what he is accustomed to.  I am not saying one is better than the other, they are just drastically different.

I think people see some of the success stories, and set out to be the next Uber, AirBnB, Facebook etc.  For every startup company that succeeds, there are a lot more who failed or realize this game is quite different than they are used to. But the ones with unmatched passion, and are willing to let others provide them guidance, are some my favorite clients to work with.

If you would like to learn more about how I can help you with your startup, please reach out to me.