What strategic mistake do startup founders make?
Evgeniy Yakubovskiy
2 replies
Most aspiring entrepreneurs dream of finding an investor for their startup. The goal is excellent; investor money helps you capture the market faster.
The problem is that a startup founder, having found an investor with money, may make a strategic mistake fraught with the risk of losing the business later. Many entrepreneurs give control of their company to an investor in exchange for the money they need to grow. But this step often immediately puts an end to further success.
Can you tell me how the process of finding investors went for you and whether you transferred control of your startup to an investor?
Replies
Geri Máté@geri_mate
darklens
I think the worst mistake any founder can make is committing hubris. It's a little similar to going to a casino: you start to win, you feel like you understand the system and you're invincible. You get so crazed on your own genius that you don't consider how luck impacted your success, and that it's maybe time to be more cautious because what luck gave you, it can take it away at ease.
I think many founders fail when they perceive their own merits and don't consider outside factors that contributed to their success. So they're ready to commit to bad contracts, unfavorable or risky terms because they think they can outsmart the other guy when the time comes. And more often than not they fail at their attempt, and the project is gone.
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