7 Lessons That Will Make You a Better Entrepreneur

I mean, I could be terrible. You don't even know if it's going to be good yet. You can't. You can't clap that much at the start. It's just. It's a false. False positive. Okay, first off, thank you so much to Jose and to everyone here at HubSpot for having me back at Inbound. I think this is year seven, maybe eight of mine. And I'm excited. Many of you probably know that I started a company called Moz, based in Seattle. That company made SEO software. Still does. And I was there for 17 years, so a very long time. This is the first time. Yeah, first time I've ever been here, not under the auspices of Moz, which is a curious thing for me. I left that company on February 28th and started a new company on March 1st because I wanted to have some time for vacation and to center myself. And one of the things. So one of the things that I did in the first few months was raise some money from investors, including HubSpot's co founder, Dharmesh. And Dharmesh and I had a call, I think, probably just a few days after I left Moz, and he encouraged me to think very saliently about things that I wanted to do differently, things that would have made me a better entrepreneur at Moz, that'll make me a better one the second time around. And Dharmesh himself, who's long been a friend and a mentor of mine, HubSpot was not his first company. I think it was his third company. And he himself has reflected on things, things that he did better and worse. And so this presentation is inspired by that conversation. And before we get started with that, though, I do have a few caveats, which is that, first off, I want to say that this is my personal experience, and I think that if you disagree, if you have disagreements, I welcome them. Certainly Twitter is a great place for disagreeing with people in a respectful manner. Right. Isn't that what their CEO said to Congress yesterday? Yeah, that seems. But you're welcome to email me or you can tweet at me. I'll do my best to have very kind conversations there. Second, this is intended to apply to early stage companies. I think that if your company is in the hundreds of people and the tens or hundreds of millions of dollars of revenue, you'll find lots of things in here that make you scratch your head. But if you're earlier stage, I think that a lot of this can apply, and a lot of these are, I'm gonna take the stage on this side because I think I need to be closer to that. A lot of these are patterns that aren't universally true and you will find absolutely counterexamples. Right. So if your tweet to me is. But Rand, this company is doing this thing, so the way, that's great, I welcome that tweet, that's totally fine. I think that what I'm trying to do is publish pattern match to things that I've seen work well and encourage you to potentially think differently from how we do think. One of the biggest things that I think I've changed my mind about is that I don't think the only successful outcome for an early stage company is to be a unicorn. I think that is ludicrous. I think it prevents a lot of people from entering this field. I think it's is the reason why even though it seems like we are swimming in startups, we have the fewest small businesses that we've had in the United States in the last 39 years, 40 years. We have the fewest number of people working at small and new businesses that we've had in the last 40 years. We are in the trough of just no startups at all. Compared to what the United States was like in the 60s, 70s, even early 80s, the percentage of Americans and the percentages of businesses and the percentages of GDP that are produced by small and new companies is tiny. It's nowhere. And I think that is because this culture keeps a lot of us out. Keeps a lot of us out. And I think that's bullshit. A big part of that is the environment that we live in, right? The culture that surrounds us, what the world around us tells us we can and should be. And I will tell you that from the time I dropped out of college until, you know, probably just a few years ago, the only thing I thought I could and should be, the only thing I thought was worth a damn was being a unicorn, right? Was being one of these incredible companies that was, you know, going to make the VC investor, you know, 10x or 20x or 50x their returns. That is where all the attention, all the media attention is paid. That's where all of us go. I don't know if any of you have been to Silicon Valley lately, but if you ever go to a networking event there, which is very transactional in nature, it's sort of a who are you? Right? And what do you do? And no, you don't sound interesting enough. So walking away. And I think that biases us a lot of us. So seven things that I'm going to do differently this time and that I encourage you to at least consider for your own companies. First off, doing one thing and one thing extremely well is very hard as a startup, because the attention that we get and the messages that we receive from sort of the investor class and startup media class is that we need to have enormous ambition. How big can this company be? Is the question that folks are always asking. And I don't think that is the right question for 99% of us to ask. I think if you're a venture investor, that's a reasonable thing. If you're an entrepreneur, that is a dumb question. The question that you should be asking is, what's the thing that I can be best at that's going to make me happy, that's going to make my customers incredibly happy, that's going to make me known. Because it turns out that one of the things that is easiest, this is a very sticky clicker. That being well known is actually a cheat code for everything that startups need to do. And many of these things are very, very difficult. This is true for both individual and brands. So if you are well known, you're gonna have an easier time attracting attention and press. Is there any way we can. Is there anything that's like closer to it or. No, I have a lot of things to click through. Ooh, what is about this? Yeah, the mouse works. Screw you, clicker. Okay, we're gonna go very old school. This is a look, it has a wire, it's fancy. These. So if your startup, if your company and you are well known already attracting customers attention is vastly easier. Getting press is much easier. Earning all the things that you want to do in sort of inbound marketing world, right? Content, SEO, social links, all of those are much easier. Your ad click through rates will be higher and your ad costs will be. Will be much lower because Google, Facebook, Instagram, all of them prefer brands that people know well. When you are well known, every visit you get is more worthwhile because you get higher conversion rates from those visits. Because people who know you, like you, trust you are more likely to convert on your website. I think this is something that I sort of learned painfully over a long period of time and stumbled into, but it is absolutely a cheat code and you can benefit from these as well. All right, so we're going to play a little game. I'm going to show you a logo and you're going to just yell out to me what the company does. All right? Ready? Crowdfunding. Yes. Indiegogo. Zencastr, Podcasting, freshbooks, Invoicing, accounting and invoicing. Mailchimp. Email. Email. Oh, very well known. It was like a chorus, the mailchimp. If anyone in here is from mailchimp, they're like, yes, that was so good. All right, how about some of these. Yes. That every. Someone said everything. It is lots of material. Good. Yeah. Like some real estate. Yep. Absolutely. All sorts of things. Tons and tons of things. Lvmh luxury goods. Yes, lots of luxury goods and some less luxurious goods. I don't know. Some people think Johnnie Walker is a luxury good. Sorry, no offense. If you like blended scotches, you go to town. Honeywell Security. Yes. Security, I think is like almost a quarter of their business. Yeah, they do lots of other things, but yeah, they. They make lots of airplane parts. They're a big competitor with Boeing on a lot of stuff too. So all of these companies, which are giant, big conglomerates, they all started by doing one thing well. In the case of lvmh, it's pretty obvious that they did two things well. Champagne and handbags, which I think can all agree are great. Every experience I've ever had as a marketer helping other companies, doing it for myself, has sort of led to an experience like this, which is that simpler products are easier to market. And I think one of the key things that kills early stage businesses, that makes it so that we can't get off the ground, so that we are constantly struggling, so that we need investment and can't get going on our own, is that we can't affordably attract enough customers. And that is insanely frustrating. And. And one of the problems is that it is hard to explain what it is that we do or we do a lot of things. For those of you who might have read Lost and Founder or some of my blog posts over the last few years, you probably know that I've. I've talked a lot about this. This big mistake that I made a number of years ago, which was to essentially try and expand Moz from being an SEO software business to all sorts of inbound marketing software business. Right. So helping with social media and content marketing and press and PR and SEO at the same time. And that effort really tanked the company's growth rate and made it much harder for people to describe us. And I think today, you know, interestingly, interestingly enough, what our. What our board of directors, what I feared all those years ago was that we would lose our ability to grow quickly because we didn't have a big enough market because SEO wasn't a big enough market for us. And instead today, whereas Moz was probably the market leader for maybe seven years, something like that, from about 2007 to 2014, I think today Semrush, Brightedge and Ahrefs are all bigger SEO software companies than Moz is. And I think a huge part of that is because of this critical error. And it was fast to realize. We probably knew it six months in, but recovering from that and then rebranding and trying to get back to a good place with SEO, incredibly, incredibly hard. Our most successful products were always simple, obvious products that did one thing well. My guess is if most of you are using Moz today, you're using it for either Pro and the Site Crawl or Keyword Explorer or Link Explorer. And even though there's lots of other tools sort of in the tool set and have been historically, the things that perform best were the ones that are simple, easy to explain, consistent. This is not just about marketing, though. It's also about how easy it is to build, how easy it is to maintain, how easy it is to recruit for, how easy it is for a team to work on. For those of you who have worked on complex multi tiered products versus singular products, I think you're very well aware of this. All right, Number two story often beats tactics, which doesn't sound very compelling. It sounds like, wait a minute. I, you know, often as a founder and as a marketer, what I'm looking for is like the next great tactic, the little growth hack that I can use to transform my business. And you know, for a long time I believed sort of the classic advice around startup world, right? Which is, you know, better products are. I must be scrolling wrong, right? That big markets are more important than small markets, that execution matters more than ideas, that low CAC and high CLTV is going to be product and that better product is more important than better marketing. I think these are myths that are sort of ingrained by startup culture especially I think most saliently, sort of the joint worlds of TechCrunch and Tech Meme. And then like the essays that Paul Graham puts on Hacker News and that somehow get amplified. I'm not sure what comes first, but those, those seem like big sources. So I want us to imagine if some of these companies were merely kind of their, their tactical take on their markets, right? Which is we're a better taxi if you ignore the ugly externalities and rampant sexism. Slim, fast for tech bros. Right? It's just a meal replacement that doesn't taste as good as Slim, fast, and gives you much worse diarrhea. Just FYI, we gotta be transparent here. I recommend it if you need that, but I'm not sure we work. It's Regis, but with a hip Seretha. Oh, wait, that's the wirecutter. It's product reviews with affiliate links. These are all technically accurate, but I think that in a lot of these cases, a great story. A great story about the startup that is easily conveyable to many people, to customers, to the market, to investors, to the founders and the team, to people that you're recruiting works wonders. And I'm not gonna get into criticizing Theranos here, but I think that they had a phenomenal story, a really exciting story, a story that myself and tons of other people believed in and hoped was true and were very disappointed to find out wasn't true. And this is because stories tend to build memories far better than features or benefits, right? And so when you hear that classic startup adage of, oh, benefits, beat features. Talk to your customers about your benefits, not your features. I think you might want to take that one step further and have the great story. So, all right, A great story contains really simple elements. You remember your high school, what was it? English or writing? Class settings and characters, tension and conflict, a climax of some kind, a resolution, and then a new normal. And in fact, most startups exist because of a story that works just like this. Before things were like this, it was a problem. Our company is this solution. Things are better now. Here's how. And so when I see, for example, tire company, right? Features. Meh, Benefits. Okay, they're better than features, right? This. This tire is designed for the. While. That sounds somewhat interesting, but story, I think, is what consistently works for a lot of these companies that have found it most saliently. I think all of us today, if we're talking about a brand, might be talking about Nike and how they picked up a story over the last week and stuck to it. And some of you might feel that they were extremely courageous. Some of you might feel like it was a foolish move. I don't think any of us could say that it wasn't a brave move. I mean, if you want my opinion, which you don't, but sorry, we're all here. Colin Kaepernick is a. An obviously great player. The Seahawks clearly should have signed him. I'm very disappointed in my team and I haven't watched since, so that's where we stand. That's bullshit. And I think that if you can make it so that the problem in this statement triggers a negative emotion that people can identify with, that they can concretely feel in their minds, especially if that negative emotion is something that your customers or your target audience has. And then you can make this resolution trigger the alternate positive emotion. You are on to an exciting story. I think that when a lot of folks talk about, like, okay, well, what's the story behind the company? This is where I would urge you to spend a lot more time than most of us spend time right now. I think we try and answer a lot of questions tactically. How are you going to attract an audience? How are you going to build a product affordably? How are you going to make a high lifetime value? These things? How are you going to scale? But to craft a story, I would urge you to start with the most emotionally resonant problem that your company solves and then center that story on individuals, not groups. But most of us have probably seen, like, all the superhero movies that come out, right? And they're, you know, what happens in every superhero movie that comes out? There's like 10 million people who die. Just millions of people. Mass slaughter, casualties off the Richtersdale. And yet I have never been in a theater. I have never seen anyone shed a tear. 10 million people die. Oh, damn, that bad guy is really badass, right? But in the first five minutes of up, one old lady dies. One. One old lady. And she has had a good, long life. And we are all bawling our eyes out. We can't keep it together, right? There's like, these big, tough guys, haven't cried since they were seven and skinned their knee, and they're in the theater, like. And why is that? Is because we as human beings resonate with individuals vastly more than groups. And so if you can tell your story in a way that speaks to an individual, a single person that talks about a single person whose problem you're solving, that will often work much better than right? So I'll go back to Nike. I don't think that Nike's ad would be extremely powerful if their ad was centered on a large group of people who had experienced, you know, racism and police brutality. That's not to say that that's not a huge problem, but I think that by centering it on one person, on Colin Kaepernick, who is sort of, you know, taking a stand for this, who's been blackballed by the NFL for this, right? Who's been hurt. Not as much as many, but certainly more than most of us about this. They correctly identified, like, oh, that is a that is an emotionally resonant individual about this. And we can do it in that way. I'm going to urge you to do this as well. To tell the story in a way that resonates with your own emotions, that triggers your own emotions, that gets you fired up or choked up or whatever emotion that is. And the reason is because you have to tell that story again and again and again. You have to tell it to your team, you have to tell it to your customers, to your market, to the press, to potential investors, to people that you're recruiting, to friends, to family. If you can do that in a way that resonates with you, that will come out. It will, it will naturally come out. I think that's a much more powerful way than to just find something that think is going to trigger. And then finally, you are welcome to take pictures of the slides. I will say I did tweet the URL for the SlideShare so you can find it online if you want sort of high res ones, but it's in Arial font instead of this beautiful Montserrat. So I mean, maybe, you know, maybe you want the photos. I would urge you. And I've been doing this a ton myself over the last. Is that five months, six months, which is to practice that story over and over again with different variations and learn which pieces resonate, right? As you have those phone calls with potential customers, you have those coffee meetings and you're talking to team members and all those kinds of things, you will find like one variation of the story just works incredibly well. And then you can refine and refine that. Number three, I like an audience that cares a lot over a big market. So an insane amount of difficulty is you build for an audience that you don't have any connection to, but you have a belief that they have money and a solvable problem, right? And you chase a market that's big enough to have a multi billion dollar outcome by pursuing broad mainstream appeal so that you can reach the maximum number of people as quickly as possible and you try and serve this hot growing market that dozens of other well funded companies are going after. This is crazy hard. Massively, massively hard. Now granted, if you're in the 0.01% of companies that maybe should be trying to raise tens or hundreds of millions of dollars in institutional financing, then this could make sense, right? 99 out of 100 of us are going to fail. But the one that does needs these things to be generally true. A much lower difficulty level. Build something for people who you Already know, who already know you, who like you and trust you. Earn amplification from a group of passionate, raving fans who like what you're up to and are underserved. Right? Try and try and find a market that's underserved, because nobody believes this is a big enough market. Nobody believes in this market enough. And avoid competing against firms with millions of dollars in funding. There's this company in Seattle that I absolutely love, and now that I've visited their website, my Instagram feed is covered in their advertising, which I'm sure happens to you as well. So it's going to sound odd. I'm saying this now so that if any of you happen to get a hold of my Instagram account, start scrolling through. You're not weirded out. So they make sort of boy shorts underwear for women, and they're very GLBTQ friendly. It's called Tomboy X. And they are. They're doing an amazing job. I don't. I don't know that they would be super exciting to an institutional investor, but they're super exciting to me because they're nailing all of this stuff, right? They have that passionate group of raving fans who love what they're doing. They're building for people they already know, and they're recruiting incredibly well because Seattle is filled with lots of people for whom that mission resonates. So people who are easier to reach, know you personally, happy to meet you for coffee, know of you like you, follow your work closely, already connected via email, follow you on social, visited your website, heard of your company, are in your target audience. I think it is insane. I think it's insane to say, I'm gonna only go after the people in the bottom group, right? And yet most of the time, when I see startups, and especially in our field, talking about how they're gonna reach people, it is the bottom of this, not the top of it. Okay, So I know what you're gonna say. You're gonna be like, wait, hang on. But Mark didn't start Facebook with, oh, wait a minute, he totally did. Ah, that's all right. But Dharmesh and Brian didn't start HubSpot with, oh, yes, yes, indeed. I think Dharmesh loves to say, right, that HubSpot's first customer was Kirsten, his wife, and that, in fact, they were building for her. And many people like her in the early days, right? Brian and Joe didn't start Airbnb with, oh, yes, they did. They totally did. It was all their friends allowing people to stay in their spare rooms in San Francisco back in the early days. And then it grew from there. That's the same way Jeremy started Yelp, right? These companies, even these big massive world changing companies, right, they all did this. So a big tip for you. If before you build your startup, you can build a network of people, a group of people who care about you personally and who are in a field that you feel like you can serve, that can be a wonderful, wonderful cheat code. All right, Number four, minimum viable products are not necessarily launchable products. So I'm sure you've all seen graphics like this that say, okay, you're not supposed to make an mvp, right? Your initial early product, that's sort of become a mantra in the tech startup world. You're not supposed to make it like this. You're supposed to make it like this. The skateboard still works for people who want to skateboard. So the problem here is that a lot of people who want that product, right, want a, looks like a Prius, do not want and will be very disappointed when you give them a skateboard. That's not to say that the skateboard doesn't function and maybe it's a perfectly good skateboard, but it is not the desired product. And an alternative to this is if we sort of graph, right, Product quality and attention evangelism on a scale, on two axes. Lots of products launch when they are down there, right? The product quality is very basic and it barely fulfills what it's supposed to. But we're putting out an MVP because I think mostly because we are told that if we're not embarrassed by our first launch, we waited too long, right? And there's this time to market speed, to market thing out there that I think is actually no longer true. I'm not sure if it ever actually was, but I don't think it is actually true. So long as you can afford to maintain your business, right? If, if you're doing consulting or you're working on the side, or this is a side project, I think that taking three extra months, six extra months, sometimes maybe even an extra year to get up here is the right way to go. Especially if you already have an audience that's paying attention. If you're going to struggle to even get 10 sets of eyeballs on this product, yeah, go ahead and launch an MVP. It's not going to hurt you, right? Those 10 people aren't going to go tell all their friends, hey, this company you've never heard of, whose name I can barely remember, had this product that didn't satisfy me. Right? No one's gonna say that. But if hundreds or thousands of people are paying attention to what you're doing when you launch that mvp, you can burn your reputation with the group of early adopters who are the most important evangelists of what you're building. So my suggestion instead is to beta test that MVP with a small, private group and instead launch an exceptional, viable product. And not really to let your brand be associated with these. I even considered putting it on the scooter, but I like scooters. All right, number five. I'm not sure there's a more pervasive myth, not even in startup culture, just in business culture. I think we wear the hours that we work, the busyness that we have, like a badge of honor, right? As though it is something to be rewarded, as though simply by saying, I am very busy and I don't have time. We are showing our own importance to the world. We're showing that we are not lazy people. Right. That we don't procrastinate. We're on it. We are one of my least favorite startup words. We are hustling. I don't know when, like, I always have the association with the magazine and the people who steal things from you, and so I don't understand the hustle, glorification personally. So. Okay, but even if you like it, we have seen messages like this from people like Elon and many, many, many others. And I think what is true in all the research is, and this is an imperfect me trying to represent this as best I can in my own version here. Right? But the quality and quantity of work that we can put out in the first, you know, few hours that we work in any given week is relatively high. Think you, you've just come back from vacation and you're plowing through your inbox and there's, you know, 200 messages in there that you haven't responded to and a ton of tasks. And you're always so impressed. You're like, gosh, I got through that in 24 hours. I was out for two weeks. How did I do it all? Hmm? How did you do it all? Maybe it's. Maybe it's possible that. So one of the reasons that the French government adopted their, you know, I think it's. What is it? 36 hour maximum. And was that basically they. All their research told them. Is someone here from France who can correct me? Is it not 36 hours? What's the 35? Thank you so. Right. But in the, in the report that they put out around it or all the press that made its way here anyway, the, the French government had all these statistics, like, look, after hour 35, you're not doing positive, impactful work anyway, right? It, it drops off a cliff pretty fast for most of us. Maybe there's a few of us who feel like we could be the exception, but you're probably not the exception. You know, in the.01%. And so after hour 60, you're not just getting less done and less quality work done. You are also almost certainly burning yourself for the quality of work you will do in the following week. Besides doing, you know, besides the terrible thing of you are giving yourself no personal life and you're giving no room for your family and your friends and your romantic life and all the wonderful shows on Netflix that people worked very hard to make. I don't think there's a more compelling argument than this research. So basically, these researchers watched thousands of employees at a few dozen companies and then they, they asked the managers, right, to sort of rate the employees. They had half of them working sort of their normal, you know, crazy hour work weeks, 80 hour work weeks or whatever. They had the other half only working 40 hours, but saying they worked 80. No manager could tell the difference, could not tell the difference. However, the managers were quick to punish people who looked like they were not putting in the hours. So if you want to know where the culture comes from, it's there. Guess what the wonderful thing about startups is? You're the manager. Yeah. You get your own culture. You get to ignore this crap. I think there's one thing above all else that a founder's job truly is make good decisions. Everything else is number two through a million, right? And if you are getting low amounts of sleep because you feel like I have to burn the candle at both ends, I've got to. Look, everyone has, I didn't sleep a ton last night, but everyone has a few days a week where maybe that's the case. But if you regularly do this, the quality of your decision making will suffer dramatically. And I think that this becomes a self reinforcing cycle where we don't sleep, we work too much, therefore we feel unproductive, therefore we feel like we have to work more and we make bad decisions which lead us to having to make more to do more work than we should, which lead us to getting not enough sleep, which, and that cycle is vicious. It is vicious and it has consumed plenty of my co workers and me. And I think we should be done with that. Number six. Hiring right people, in my experience may not be as good as getting rid of not right people. One of the things that I think we'd all agree on is let's go back in time five years, you were not as good, not nearly as good at your job as you are today, right. You've dramatically improved at all the sort of tactical and strategic things and the thinking that you've had to do around your job. And you can probably think of lots of other people you work with who you would say the same thing about, right? They've gotten much better at their jobs over time. How about their values and their beliefs and their culture fit with an organization that they don't necessarily agree with? Probably not a whole lot, right? Probably, probably rarely happens. And yet, and yet what happens in most organizations, in most organizations there's the person who, oh, they're not a great culture fit, but I'm working with them on it, right? And the manager will be working with them on it for years and the improvements will be slow if they ever come. And then there will be the person who's like a great culture fit, but their skills just aren't quite up to par. They're not quite what we need. We're not going to hire them, we're not going to promote them, we're not going to spend time and investment to train them. We are going to let that person go. And that is insane because people are way, way better at getting better at the work and we are not good at getting better at culture fit. Right? And I don't mean culture fit like what sports teams to prefer and do like Star Trek or Star Wars. I mean culture in terms of true values. You know, what, what, what, what are reasons that we would promote someone? What are reasons that we would hire someone? What do we believe is more important than making money that we would not trade for making more money? Those are the things that I mean by culture and values fit. And so I would urge you to think about reversing these two. I have had a lot of success in that and a lot of failures when I failed to get rid of those people. One of the pieces of research that came out a couple of years ago, Google had this project, Aristotle, that was very well received and was sort of a 10 year quest at Google to try and figure out what makes the perfect team, what makes for a high performing team. And what they found is they looked for correlation in all sorts of things. Is it better grades, is it people who are better programmers, is it lines of code produced in A week. Is it other kinds of attributes? The school that they went to or where they came from, what other company they worked at? No, none of these things. What they found was psychological safety, the feeling of the people around me, care about me. I don't have to fear that if I make a mistake, I will be judged for that mistake. Those were the traits that determined the best teams at Google. And the best way to get at that is to take that brilliant asshole who's on your team and fire them. I'm sorry, that's just. I. I have done this several times and been shocked, blown away by a team that was all leaning on this one person, right? Because they were the genius. And then we let them go and the team stepped the F up. It's amazing. Amazing. All right, last one. When you were thinking about what company, kind of company you want to build, I don't think that we should be exclusively celebrating and exclusively recognizing venture backed and institutionally backed companies. It turns out that, you know, the day that you, that you close your venture round, your odds, your five year survival odds go from around 50% to under 10%. And yet, what do we all say to people who just raised their round? Congratulations. I think I, I find myself perplexed by that. I think another problem is that many people do not have the resources to be able to just take off from their job and start a company on their own. Right? I'm very lucky. Moz gave me a nice severance at the end of my tenure, right? So I have sort of time to go and build my next thing. And I saved some money while I was there and wrote a book and sold that, right? And so I have a little bit of money so that now I can go start my next company without, without having to stress. But this is a false dichotomy. This is not the only way to do things right. All of these other things are on the table. You can crowdfund. You can do small business loans, there's revenue loans now there's accelerator programs that are unique in their structures and the exit requirements for these, right? What you have to become is vastly less if you are on the left side of this than on the right side. And your five year survival rate is much lower on the right side of this than on the left side. And in many cases, even these people who we worship and amplify such a tiny percent of them make just sucks. I think we've got to start telling stories and elevating startups that are not just in here. And there's a great movement by a number of women. A few of them are in Portland and Chicago. Mara Zepeda and Jennifer Brandel called the Zebras Unite movement. I would urge you to check that out. I actually asked Mara, because I loved it so much. I asked her if I could put the unicorn versus zebra on SparkToro's about page, because I was like, that's what I want to build next. I want to build one of those. So before you follow anyone else's path, I want you to ask a few of these questions of yourself, especially whether you're doing something, whether you're going down a path because you actually want that thing that is a company you want to build, or because that feels like the only option. That feels like what everyone celebrates. That feels like the path that is talked about and amplified. All right. Thank you very much.