Should You Start A Startup? | Startup School

Deciding whether to start a startup is complex and success is not determined by traditional achievements. Resilience is the most important quality for founders, and initial motivation is less important than enduring motivations. Before starting, consider the worst-case scenario and if you can handle it. Startup experience improves career opportunities and can lead to valuable connections. To start a startup in the future, having both an idea and a co-founder is crucial. The best environment for starting a startup is working at a startup. When deciding to start a company, focus on creating a product that elicits a deep reaction from passionate users and enjoy the process of turning ideas into reality. Curiosity is enough to begin, and if a compatible partner is found, take the leap together.

Introduction

The video discusses whether or not to start a startup and provides guidance for potential founders.
The speaker focuses on identifying individuals well-suited for startup founders and preparing for the role.

How to decide whether to be a startup founder.

Deciding whether to be a startup founder is a complex task, as success in this role is not determined by traditional signals of achievement. Here are key points to consider:

Being a brilliant programmer or product genius can help, but there are various types of people who can thrive as startup founders.
Academic or professional achievements matter less in the startup world.
Startups demand dedication, resilience, and the ability to handle rejection.
It is challenging to predict who will excel as a startup founder, making self-assessment difficult.

Resilience is the most important quality

Resilience is the most important quality for startup founders.

Confidence does not always indicate resilience.
Some founders who appear confident may not be resilient when faced with challenges.
Quiet and seemingly lacking in confidence founders can be highly resilient.

Founder of Benchling (S12)

The founder of Benchling, Sagi, overcame doubts about selling software to biotech and pharmaceutical companies. It took two years for Benchling to start generating revenue, but now it has top biotech and pharmaceutical companies as customers. Sagi's resilience and leadership were crucial to the company's success.

Sagi faced doubts about selling software to biotech and pharmaceutical companies
Investors were concerned about revenue generation
Benchling took two years after graduating from YC to start making sales and revenue
Benchling now has top biotech and pharmaceutical companies as customers
Sagi's resilience and transformation into a leader played a crucial role in the company's success.

Startup resilience - Initial motivation isn't important

The initial motivation to start a startup is not as important as enduring motivations that develop over time.
Various legitimate reasons to start a company can change over time.
To sustain resilience and overcome challenges, it is crucial to be genuinely interested in the problem being solved.
Having a strong connection with the team is also important.

As a curious founder ask "What do I have to lose"?

Before starting a startup, consider the worst-case scenario and if you can handle it
This may involve not earning a salary for a year and potentially shutting down the company
Decision depends on individual circumstances, such as job prospects and personal commitments
Starting a company provides valuable learning experiences and the opportunity to explore different types of work
Even if the startup fails, it can enhance career opportunities and help individuals identify their strengths and interests.

Startup experience can improve your career opportunities

Startup experience can greatly improve career opportunities by demonstrating qualities such as self-starting, initiative, and leadership. Employers value this experience and often seek candidates with startup backgrounds. Successful Y Combinator (YC) companies like Rippling and Airbnb prioritize hiring former founders. Startup founders who leave unsuccessful ventures often join more successful YC companies or start their own successful ventures. Additionally, startup experience can lead to serendipitous encounters and connections with ambitious individuals, transforming one's career trajectory.

Startup experience demonstrates qualities like self-starting, initiative, and leadership
Employers value startup experience and seek candidates with this background
Successful YC companies prioritize hiring former founders
Startup founders often join more successful ventures after leaving unsuccessful ones
Startup experience can lead to serendipitous encounters and connections with ambitious individuals, transforming one's career trajectory.

Getting ready to start a startup in the future

To start a startup in the future, the most profound aspect is the importance of having both an idea and a co-founder.

Key points:

Ideas and co-founders should not be separated, as they work together to develop and refine the startup concept.
Finding a co-founder who you enjoy discussing and debating ideas with is crucial.
Engage in conversations about interesting technologies and products to prime your mind for potential startup ideas.
If you're struggling to find people to talk to, change your environment and meet new people.

Best environment is working at a startup

The best environment for starting a startup is working at a startup. Here's why:

Gain firsthand experience and understanding of how startups operate
Surround yourself with colleagues who are less risk-averse
Consider joining a startup after college or leaving a big company as an intermediate step
Engage with smart people and discuss ideas with them
Start experimenting with turning ideas into side projects
Look for simple first versions that can be built quickly
Pitch your ideas to potential users to gauge their reaction
Get used to the experience of turning ideas into reality
Enjoy the thrill of launching something, even if it's small
Develop the skills to build your ideas, either by learning to code or finding a co-founder who is a programmer.

When to take the leap and start a company?

Don't rely on side projects gaining explosive traction as a deciding factor
Focus on creating a product that elicits a deep reaction from a few passionate users
Enjoy the process of turning ideas into reality and find yourself energized by side projects
Pay attention to the level of enjoyment and collaboration with side project collaborators
Having a great co-founder who wants to start a startup is a rare and fantastic reason to quit and start one.

Advice

Starting a startup:

Curiosity is enough to begin
Consider the worst-case scenario and ensure you can live with it
Seek out smart people to discuss ideas with and launch side projects
Emphasize the importance of actually launching projects, no matter how small
If a compatible partner is found, take the leap together
Hope for future collaboration within the YC Community