This article made me think, that as a young entrepreneur, one has to realize that the big exits that are presented as success, actually require a very specific state of mind, which most of normal people would never submit themselves to.
Yes, if you are a startup entrepreneur and you hope for a billion dollar exit, chances are it’s not going to be smooth like Instagram’s, but convoluted like Facebook‘s, and you’ll have to piss off and disappoint a lot of people on the way.
Was the Social Media Tech IPO Boom a Big Scam? Billion-dollar cash-outs at Facebook, Zynga and Groupon. Abysmal stock performance. Tweet Jake Rajs / Getty Images Over the last year-and-a-half, several of the most prominent social media companies in the country have sold shares to investors in high-profile initial public offerings.
via: business.time.com
Are you sure you want to do it? I’m not.
Deutsch: Stolperstein, Gertrud Pincus, Windscheidstraße 8, Berlin-Charlottenburg, Deutschland English: "Stolperstein" (stumbling block), Gertrud Pincus, Windscheidstraße 8, Berlin-Charlottenburg, Germany Koordinate: 52°30′31″N 13°17′54″E / °S °W / ; latd>90 (dms format) in latd latm lats longm longs (Photo credit: Wikipedia)
strange news in my feeds today, two fellow startups are struggling – Profitably and Seesmic.
profitably situation is breathtaking, as venturebeat just broke this story about misunderstandings between founders, employees and investors. well worth reading, and key takeaway should be – in a startup, you have nothing to build on but trust. if you loose trust, you’re gone.
luckily none of them are loosing hope and closing doors yet, as loic puts it in the interview about seesmic layoffs:
“I don’t give up, that’s how I am. I always have faith in my team, and I keep going. Success is going from failure to failure until you reach success. There are many examples; one of them is Mark Pincus, who couldn’t raise money for Zynga… I think he’s probably laughing right now when he thinks about that.”
… he is exactly right, persistence is the key to success, if nothing else because most people are less dedicated than the true entrepreneurs, who simply don’t take no for an answer, but rather make the world change.
