For the last 3-4 years there is a hype around entrepreneurship and startups. Must say, I couldn’t find many resources about this, except of this from 2012, which in Internet terms is like the previous millennium, but I hear more and more people around me talking about this. Check my interview with Richard Robinson exactly on this point
“There is too much attention being paid to these outside successes and not enough attention being paid to how actually unsexy it is.” -> Tweet This
Anyway, the point is more and more people talk about “Starting up”. We’ve got more and more companies with outrageous valuations which blinds entrepreneurs (and investors) and make them want to touch the holy grail of success, the IPO.
It’s no wonder. Thinking how cheap it is to build a product and start working on it. However, starting is easy but surviving is still very hard.
I spoke to an investor a while ago. These guys have seen many many projects and were at a state they had to decide if they are going to invest in a certain company and move on. You can imagine how boring it is for them to listen to a pitch by then. You REALLY have to be super interesting to get those peoples’ attention.
(I do support other ways to get investments though. Yes, “investment”, Not too soon. Get traction and be lean. If you got enough traction getting investment is easier and valuation is higher.)
Among that, part of the investors due diligence before writing that check (Most of the time it’s a wire transfer why on earth dealing with checks?!) is how the team is working together. And more precisely, how the co-founders are working together and communicate.
That investor told me, that when he meet with entrepreneurs he always asks them this one question. “Did you ever had a fight or disparagement about something? Did you overcome it?”
And, there is a right answer here. The answer is: “YES! we did”
That investor said, that if they say “No” they either lie or the don’t communicate enough with each other which makes them a lousy team!
And here is why. When you are along on that ship with your co-founder you both should have the ability to scream at each other but then communicate and solve that problem. This what makes you a team and what makes you successful.
I cannot over emphasize how entrepreneurship is over estimated as I mentioned and how it became the new lottery ticket. Entrepreneurship is F**ing hard! (Yes, quote me on this and Tweet this)
And for Fucking (there, I said it…) hard times you need OUTSTANDING communication with your partner, Not good communication, but OUTSTANDING communication between you two (or more).
You need to be able to scream,
you need to be able to shout,
you need to be able to disagree,
and still make it work. (Tweet This)
If you’ll go with the easier path of going around problems they won’t disappear, they actually grow over time, and then they become too big and explode. Which is not good for you or your investors.
So, that investors’ question actually means a lot. It’s can tell how strong your team is and how well you can survive in a roller coaster not tied to your seat, this is how a startup feels!
So, talk through your problems with your co-founder it will save you!
Now over to you!
How do you communicate on your start up? Do You think you can improve it? How do you overcome that open harsh communication?
Image credit by dalvenjah