Eimri Bar ??的动态

Lots of "founder and entrepreneur wisdom" in Eimri Bar ?? 's post. Here are additional tidbits from my eBags + Iterate.ai experiences: 1. if you raise VC, know 70% of those fail ... employees and founders make $0 in those 2. don't start a company unless you're ready to dedicate at least a decade 3. only raise VC if you think you can deliver a BIG exit within 5 years ... their LPs require cash back fast ... it's contacted 4. know that "too much money" can make you stupid ... while it's uncomfortable to be cash constrained, "necessity and cash constraints" are the mothers of invention 5. know that common sense is better than a college degree 6. live by a "mind-over-money" business philosophy 7. hire missionaries, not mercenaries 8. know that a profitless startup is just an adventure ... it's not "a business" until it's profitable 9. be as careful choosing board members as co-founders; they have enormous say in your company, your strategy, your VP hires; money-oriented board members make different decisions than founders and employees 10. to a VC, your startup is 1 in a portfolio of ~25 (our eBags' situation), only a few need to work ... to an entrepreneur or employee, you're all in (all or nothing) at your startup, it HAS TO work ... VCs and founders have very different perspectives ... neither is right or wrong ... it just is. 11. VCs and angel investors are very different. Angels or bootstrapping can be the best option Heck, there are dozens more tips. Most are only learned after experiencing what Eimri did. I've been very fortunate once, having co-founded eBags with some extremely talented people, and hiring scores of talented, dedicated people. We sold that for $105 million, after turning down earlier offers. Peter Cobb Frank Steed Andy Youngs Mike Edwards Mike Frazzini That's another learning. Think hard before before turning down a good offer. We did that at eBags, because the VC wanted 2X the offer. A VC on your board may look at an offer differently than a founder. The one I co-founded 10 years ago, Iterate.ai , is likely to be far more successful. But, we need to keep our hands on the steering wheel. They can go south fast. It's grow or die. It's be profitable or die. Brian Sathianathan Magnus Tagtstrom Kevin J. Homer Emily Giltner One of my coworkers, Dave Jenkins, shared Eimri's article with me. Thank you!

I can relate to most of the points mentioned here.

Why 90% of Startups Crash and Burn (And How We Didn't) Hey there! Did you know that 9 out of 10 startups fail? Yep, it's true. When I first heard this, I thought, 'Well, that's scary!' But here's the thing - we used this scary stat to push us forward, not hold us back. So, why do so many startups fail? Here's what we learned: 1. No market need (42% of failures) 2. Ran out of cash (29%) 3. Not the right team (23%) 4. Got beaten by competitors (19%) When we started our digital agency, we looked at these reasons and thought, 'How can we avoid these traps?' Here's what we did: - We talked to real businesses about their real problems before we even started. No guessing games! - We watched our money like hawks. No fancy offices or crazy parties for us. - We built a team that balanced each other out. No 'yes' people allowed! - We kept an eye on what others were doing, but focused on being uniquely us. It wasn't always easy. There were times when we thought we might become another failure stat. But by keeping these pitfalls in mind, we pushed through. Now, two years in, we're not just surviving - we're thriving. Our client base has grown by 200%, and we're actually hiring (pinch me!). So, here's my question to you: Which of these startup killers scares you the most? Or have you faced a different challenge? Drop it in the comments! Let's learn from each other and beat those scary stats together! #StartupLife #BeatingTheOdds #EntrepreneurshipJourney

90% of Startups Failed in 2024, but I’m Profitable Since Day 1 2024 has been a tough year for startups. 90% of them? Gone. Failed. Bankrupt. But I started my journey in the middle of all the chaos during Covid 19 and I’ve been profitable from day one. What’s the secret? Luck? Hard work? Timing? Here’s the reality most founders ignore: It’s not about the next big idea, it’s about focusing on the right fundamentals. Let me share what my 8 years of entrepreneurship journey taught me about the startup ecosystem: 1. Burn Rate vs. Profitability Many startups raise millions, only to burn through it without a clear path to profit. I knew that every penny had to work for me, not just fund an extravagant launch. Profit first, scale second. 2. Stop Chasing Trends The hottest startups are often built on the trendiest technologies. AI, Web3, you name it. But what’s forgotten? "Real customer needs". Instead of building something for the hype, I focused on solving a problem that people were willing to pay for. When you align with the basics, you don’t need a billion-dollar valuation to survive. 3. Forget Vanity Metrics User growth is great for the headlines, but what about customer loyalty? While others chased 100,000 installs, I focused on retention. I’d rather have 1,000 paying, happy customers than a million who’ll never return. 4. Resilience in Uncertainty 2024 wasn’t easy, markets crashed, investors pulled back. But those who survived understood one key thing: adaptability. If you can’t pivot when the storm hits, you’re already sinking. It’s not that I’ve figured it all out. But in a year when most are closing shop, my startup is growing because I prioritized value over vanity and sustainability over scale. If you’re building or dreaming of starting a business, here’s my advice: focus less on what looks good and more on what makes sense. Building for profits, not applause, is the way forward.

"Move Fast and Break Things" Zuck said it, and suddenly it became the holy grail of startups. I believed in it too. When I started my agency, I wanted to build fast, launch quick, and figure things out along the way. The startup way, right? But here's what actually happened: - Rushed work that needed redoing - Unhappy clients who needed extra attention - Team stress from constant firefighting - More time fixing than building Funny thing is, slowing down actually helped us move faster. Now we: - Think before we build - Test before we launch - Listen before we change - Build to last, not just to ship Sure, we might not have explosive growth stories to share. But our clients stick around, our team isn't burnt out, and we now feel increased stability and lower risk of compounding errors. My Takeaway? Giving projects the time and attention they deserve might not yield 100% of the expected results, but it does come with no regrets. Sure, not everyone will agree. Some swear by “moving fast.” And maybe that works for them.

I know no one wants to talk about this but… When is it time to quit your startup? I know, we hate thinking about things not working out. But the reality is that sometimes things don't work out. Everyone has to come to that realization in their own time. But here is how I knew it was time for me to quit my first venture. ? Broken code base. We couldn’t adequately address market needs because we couldn’t change our code fast enough. ? Slow market adoption. We struggled to secure classroom adoption quickly. A killer for any VC-backed startup. ? Overwhelming market bureaucracy. Publishing is a beast and so is higher education. Things take time, which young, uncapitalized companies don’t have. ? Broken cap table. Our cap table was full of phantom operators that had come and gone over the course of the 6+ years building the company. We had no chance of raising a Series A or an extension round of funding to secure more resources to keep going. ? Significant time + personal investment. I spent 6+ years trying to build that company yet we could never truly move it forward in a meaningful way.?That combined with over $20K of personal capital allocated over the years. The time came to make a hard decision based on the outlook of the business. Sometimes the best thing you can do is accept defeat and try again. Have you ever been through a startup failure? --- Hey, I’m Nelson, founder of TeachOne. Follow me for regularly scheduled posts about startups, business, and life.

An open letter to all first-time founders – 99% founders fail on their first attempt. I failed thrice before founding Floworks. You will most likely be no exception. Because exceptions are rare. Our social media feeds are full of success stories because no one is comfortable sharing their failures. - Millions of dollars raised - Successful exits - IPOs Here is the reality- - Co-founder breakups - No salary for years - 5+ years to reach PMF - Running out of savings My genuine advice - 1. Do not start a startup unless you are ready to commit to it for the next 5-10 years. 2. Do not startup if you cannot face failures. 3. Do not start a startup for getting rich and famous quick. If you have made your mind to startup, here is ???????? ?? ?????????? ???????? ?????????????? ???????????? ????: 1. Pick up a problem statement and just “start”. This will change likely change throughout the journey. 2. Talk with at least 100 customers even before building a product. 3. Iterate (fast) your product until it's the best in its “category”. 4. Deliver a product that saves users time or best, increases revenue. 5. Develop simple, complementary tools that enhance your main product. 6. Do “things that don’t scale” to get your initial customers. 7. Understand that different markets need different “product”. What you build for India/Europe might not work in US and vice versa. #startup #advice #founder

The worst and most popular way of building a startup: 1- Build an MVP without understanding what problem you’re solving and for whom 2- Buy an article on TechCrunch to announce the launch 3- Close a few enterprise deals because your besties work there 3- Raise funds 4- Buy another article on TechCrunch to announce you’re “out of beta” 5- Hire more sales 6- Realise that you don’t have product/market fit 7- Fire the sales team 8- Go to your board meeting every quarter promising that the next feature will drive “big growth” 9- Run out of cash 10- “Exit” the company for $0 after 5 years 11- Call yourself an exit SaaS founder for an “undisclosed amount of money” 12- Become a LinkedIn influencer as a "startup coach" The best way to build a startup: 1- Find the problem you’re truly passionate about 2- Talk to 20+ people having this problem 3- Find that ONE thing that can solve it for them 4- Have people pay as soon as you’ve launched the BETA 5- Build in public from day 1 to build a strong audience (it costs $0) 6- Keep a lean and agile team 7- Be profit-focused to make sure to understand the unit economics of your business 8- Scale at your own pace Build to last #enterpreneur #startup #enterprenureship #startupbusiness #softwareengineering

I spent 1000's of hours building my own 5 startups only to discover my passion lies in helping others build theirs. Indeed, today I dedicate my time to: - Guiding idea-stage founders through their journey - Building digital products that make a real impact - Supporting startups in developing their MVPs And I wouldn't have it any other way. People often question why I shifted from building to enabling. They say consulting lacks ownership. ? But I own the success of dozens of startups. They say it's less prestigious than being a founder. ? Yet I find immense pride in being the catalyst for others' success. They say you can't scale impact this way. ? But through Clarity, we're shaping the future of multiple industries. The startup world told me success means building a unicorn. Instead, I found joy in building 1000's of other people's dreams. There's something profoundly satisfying about transforming complex ideas into tangible products. Watching founders' eyes light up when their vision comes to life - that's what drives me. Developing products for myself has taught me exactly what these founders need. We're not just service providers; we're partners in their journey. It's safe to say I've found my calling. — ??Follow me to learn how to transform your startup vision into reality. — PS:?If you’re ready to build your MVP in 6 weeks, let’s talk. Happy to turn your ideas into reality—fast.

Top tips for new founders, thanks Rob Snyder Having worked within a startup that ran out of money it is certainly not fun, but I think my favourite here is about the non-linear opportunities. Keep your eyes peeled for additional revenue streams that present themselves along the way! #founder #entrepreneur #startup