3 Common Mistakes You Will Make As a First-Time Founder

Reading another “Unicorn Pitch”

For the past 7 years, I’ve been failing and succeeding, riding the startup rollercoaster of success within my own ventures and companies that I was consulting or advising.

As a Y Combinator partner Kevin Hale says “Could you please try to fail in some new unique way, instead of all these past ways?”.

There is so much truth to that. I made numerous mistakes of my own and watched hundreds of founder doing following the same path. Let me summarise the top 3 of them, so maybe you will be able to avoid them or at least diversify risks.

1. But Uber is still not profitable, so why should we?!

If I’d be getting a dollar every time I hear this excuse of not making the revenue, I’d be a millionaire by now! Founders live the dream of raising venture capital with a pure idea or a barely working prototype. They look up to Uber and it’s negative balance sheet like a holy bible and an example of business done right.

If you are one of them #GETREAL and ask yourself these questions:
1. Were you born in the heart of entrepreneurship and followed steps of your entrepreneur parent since 18 y.o?

2. Are you a millionaire who sold your company for 23million and raised numerous rounds?