
Entrepreneurs, not investors, kill startups - charlieirish
http://mystartuphas30daystolive.tumblr.com/post/54097344851/entrepreneurs-not-investors-kill-startups
======
7Figures2Commas
When I read things like "it was teaching me to be an opportunist rather than a
visionary" and "I thought that I could try to disrupt an industry" I can't
help but think that there's more to this story than just an inability to stick
to one's guns.

I empathize with the author, and I have no doubt that in retrospect he may
have legitimate reason to question the quality of at least some of the advice
he received from his investors, but at the same time, in my experience, most
successful businesses aren't built by those _trying_ to be visionaries and
disrupt industries either.

~~~
atwebb
I think that the word visionary gets taken to mean, someone who can see and
gap in a market/process/product and fill it. Rather than, someone who has a
vision and is driven to see it through to completion.

------
OldSchool
I have to admit I learned something here: getting investors can be just as bad
for the business itself as many acquisitions, and it's much worse for the
founders.

In my opinion, if you're sitting on a profitable company, with a sustainable
lifestyle, in a market that really can continue to expand, keep others out
unless they let you put 10 years' profits in your own pocket first.

------
arbuge
It is quite important to realize before taking angel money that angels are
like VCs in one important respect - they need a liquid exit of some kind
within a few years, generally via an acquisition. This may not be what you had
in mind for your future if you want to build a lasting standalone company.
Have a conversation with prospective angels at some point and discuss this
scenario. Ways you could make it work for them in the absence of a liquid exit
are via dividend payments when your company is sufficiently cash flow
positive, or by buying some/all of their share outright when you can afford to
do that.

Once angels are ok with that, they'll be less likely to give you colored
advice which may be oriented (even if just subconciously) towards getting your
company sold pronto.

------
volaski
When my startup went down, I felt i was left alone, I felt betrayed by
everyone, including cofounders and investors, even more so than this guy. But
here's what I did: I shut up and spent most of my time making sure my co-
founders and employees suffer the least. I really don't get the point of
anonymously broadcasting your rant about your own team and the investors.
That's not cool.

------
djim
this guy has a lot of time on his hands for someone who has 30 days to save
their business.

~~~
kordless
I think 'crashing into the ground' indicates it's a done deal. No saving is
possible, so what's left is talking about it. I'm thankful for that much, at
least.

------
wellboy
It's incredible how many successful entrepreneurs have become followers, think
the latest trends are the ones on techcrunch etc.

There are very few entrepreneurs left who still think for themselves and are
in for the interest of others and not for themselves.

The vast majority has become what investors have been forever, followers.

------
slaxman
Interesting argument. I guess he's trying to emphasize the importance of
selecting the right investor/ accelerator. Many startups see VC investment as
confirmation of what they are doing is right (thanks to all the media hype)
after which they may tend to forget basic principles.

------
bitcrusher
These are interesting, but for some reason they read a little too much like AA
self help books. Perhaps because it's difficult to be informative and vague at
the same time.

------
thesausageking
Can we keep these off of HN ? They're whiny, sensationalist drivel that's the
opposite of the hacker ideals the HN community was started on.

~~~
HackNewsNoob
Hacker ideals? Really? Sharing experiences is fundamental in building
knowledge and anticipating the future. I enjoy these 'whiny, sensationalist
drivel' because as a coFounder of a noob startup I don't hear enough of
failed/failing startups. Instead all I hear is 'chest pounding howls' on why
it's so cool to do a startup, seek VCs, join an incubator and make a killer
exit. I welcome a different story. Especially a story everyone can learn from.

~~~
silverlight
Completely agree.

