Founder Journey Series Introduction
2 Feb 2021 · 2 min
Podcast-style transcript featuring Ray Walia and several guest speakers reflecting on the realities of founding startups. Key themes: building and pivoting products, raising venture capital and its expectations, the value of networking, personal resilience and founder well-being, and candid anecdotes about founder relationships and outcomes.
Chapters
3, 2, 1.
I always knew I wanted to do startups. I just had no freaking idea how to even start.
But starting a company requires so much more than wanting to solve a problem.
And in doing so, ended up being in this position where all these large industries were kind of laughing at us in the beginning, and 10 or 15 months later, we had eight of them trying to buy us. Now, that's like the glory story. What you don't hear in that journey is, you know, me and the guy who started that business, we don't really speak anything. This is the first time I've ever talked about that publicly.
You know, you can't just love your product and slowly die by a thousand cuts. You know, if it's a product that's not working, you need to be agile enough to notice that. You need to be quick enough to be able to pivot to get that validation you need first step is really.
To really decide for you as a founder. Do I want to run a company that actually becomes venture capital fundable?
The biggest thing that I had to overcome was to be comfortable and happy with the business I wanted to build.
That's great, but no one really tells you, well, here's how you actually go and create a product and take it to market.
Once you raise venture capital, the expectations are high that you turn that capital into revenues and into growth, most likely into the next round of financing. And as you say, it's only a starting point. Usually it doesn't get easier looking at.
People when I just started and looking at people who had raised $20 million, like, whoa, that is craz. They must really have a bank. And now we've raised, like, six times more than that, and we still feel like we've got so far to go.
So when somebody asked me back then, like, oh, what can spatio be? Where do you want to take it? I told them an answer that I didn't authentically believe.
You know, one day, and you're like, hey, how are you? And I think I started just talking, right, about the business, right? And you, like, stop me, like, no, how are you? Right. And that's something that, you know, people don't really ask enough. And it was good because, like, I wasn't in a good place at that point. Just to be able to kind of talk to someone about it was really.
I think the bigger your network and the more that you've helped out, the more people will help you, and it's how you succeed. Because I think one of the common things you hear about entrepreneurship is that the companies that succeed are the ones that have been able to navigate those really difficult moments time and time again.
I want a full heart, a clear mind, and a fit body.
It's always difficult to be an entrepreneur and you just gotta keep going.
Launch Ventures is for entrepreneurs by entrepreneurs. Every Friday, starting February 5th, we will be releasing an episode of Founder Journey Series. Please like share and follow. We're excited to share the series with you. If you're interested in taking our courses, head on over to our link in bio and get started or visit our website at Launch VC.
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