Startups

A Basket Full of Startup Nonsense

unicorn

This guest column is by Anjli Jain, Managing Partner at EVC Ventures

Startup people, one of the busiest species on the planet have their own version of cat videos. It is called startup reports.

First Round Review has recently published the results of their State of Startup 2016. Looking at the report gave a giggle and that oh-not-again ticklish feeling when you open something and you read just to figure out how useless it has been all this scrolling ‘till the bottom.

Numerous media houses are doing a great job of turning entrepreneurship from mindset to a sellable product and this report is yet another attempt. So where do we start first?

There is still elan for Elon.

You don’t need Elon. You will never be Elon and you will never reach Elon. About time you stop obsessing yourself with Elon and instead obsess with your first 50 customers. Stop idolizing Elon Musk and start worshipping your first paying customers instead. Do you realize what does it mean for someone to open their wallet for you?

Investors will hold the upper hand.

Since when did startup founders turned cowards? The report claims that 67% of startup founders believe that investors will hold the negotiating power this year compared to 54% last year.

By the time you reach 50 paying customers you should stop obsessing yourself about Elon Musk. By the time you reach 500 paying customers you should stop obsessing yourself with investors and their negotiating power.

More founders see an opportunity for exit

And I’d like to stick with those few who looking forward to build a long lasting company for the next 20 years at least.

Nearly 1 in 5 founders say they’re raising a unicorn.

I am so glad the number is not higher than this. Just build a company and let the unicorn come to much from your hand when the time is right.

Now is time to launch companies and set sail

There is never a bad or a good time to start a company. Ever. If people can start companies during war times why can’t you start today?

The Bubble is deflating..

Why in the world do you a startup founder concern yourself whether we are in a bubble or not? Are you an investor? Keep building your company and delight your customers, leave the bubble talks to the bubblers.

Men and women disagree on the cause of tech’s diversity problem.

Name one thing on which men and women agree. Man – What compromise can you make to get a woman co-founder? Ladies – your role models are all around you. But others can’t make the choice for you.

Image Credit – Business Insider

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