Quote:
Originally Posted by uusunn
Going to let you in on a secret. Nobody knows what they're doing, but the most successful entrepreneurs are the ones who act, are capable enough to control their own destiny (ie, not overly reliant on outside talent or investors), can establish an "unfair advantange" (relationships in manufacturing, sales team, or personal talent/credibility) and are able to build long-term solid reputations by having strong character and vision. You are doing well when you have a high degree of confidence when something will work (R&D, distribution), and the money you might fundraise just serves as access to that vision.
Entrepreneurship is a dogfight with everyone and most importantly, yourself. You are constantly wondering if you are good enough every day, and stepping in one direction to see where your compass is going to lead you on the next.
You should be waking up in cold sweats if your revenue plan isn't working and pumping every last ounce of intellectual curiosity into finding out what does. If you're really really serious, you should move yourself to a growing city close to a manufacturing hub so you can get things done and have a product to sell, if you deal in physical goods.
Getting into YCombinator will be a milestone, but it's not an end goal. It's a startup school, but I also know a lot of people in YC that come out of that program, give up equity, but don't make anything of what they've learned. Yes, there are outliers, but those are folks also went into the program already with high marks.. YC does wonders for generating investor demand if you already have a solid foundation or prior background with progress to show (because this is what their investor network wants to see when sourcing deals). If you don't have prior expertise or traction, or know someone who can vouch for you that's very reputable in the industry, then your chances of admission are extremely slim.
If you feel like you have good ideas and lack execution, be really honest with yourself if entrepreneurship is right for you right now. You might have ideas, but you also might not be well-prepared to tackle the vertical you want to be a part of. It's one of those things that's truly a meritocratic battle, and if you aren't as hungry as the next person to make things work, it will be an uphill struggle where you will burn time, a lot of money, and your self confidence may be at stake in the process.
If it sounds like that's a bit too much, then get started working under someone way more successful than you in an industry you want to be in. Cold e-mail them and learn the business, and become the best at it. When you feel like you've hit a peak, you'll know you're ready.
But if diving right in is your thing, then the best time to get started was yesterday. Cheers.
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I like this man!
Followed you on Insta too haha
but OP here's my 2 cents: this idea you're talking about, is it something like "uber for X" or "we're implementing blockchain in (common item/platform) to promote synergy through collaborative efforts" sorta thing aka just buzzwordy and not really a stable idea,
or is it something that you think you have an advantage in already/can easily create that advantage?
The reason I'm asking is this: if it's the former, I would tell you to go back to work. The market is saturated with college kids working on useless solutions to problems they've created (ask me how I know this), and most of the time the VCs/Investors can see right through the BS.
But if it's something you can truly create an advantage in, by all means, go get em champ. We're probably at two very different stages of our lives but I'd love to help you out as much as I can!
Best advice I can give you is this: if it's even a semi-solid idea (aka not repackaging two things into one) try to work on a business plan. If you can show how people can make money from this you'll have better luck with finding investors!