Being both a technology veteran (I assume after 28 years in tech I can get away with that term) and a first-time startup CEO, I thought it would be interesting and hopefully mildly beneficial to share my experiences and learning’s from the startup process.
While I always liked to think of myself as somewhat of an entrepreneur within large companies, Formation Data Systems is my first independent startup. I’m not sure why I didn’t do something sooner. I think it was because, in large part, I was very fortunate to have had great roles at great companies and the comfort overcame the urge to jump ship…. and throw life into chaos.
At some point I realized that if I wanted to do something big, it required getting small. The biggest change was just talking the time to ask myself what I really wanted to do. It sounds funny, but you can get so busy in your job that you often fail to step back and evaluate what you really want to do (those of you the know the story about the frog in boiling water can insert it here).
OK so you have decided to create a new company and change the world or at least your part of it. With all the venture money floating around, how hard can that be? Gen up some power point, hook up with a couple VC’s, get a hip office with a slide and an open office concept that looks like a permanent Oktoberfest party and wait for the huge offers from the big guys.
Some make it look easy and, for a few, it might be easy but for most it is not going to be easy. If your not passionate and determined about what you want to do, then I suggest another option.
So much for the preamble; I have 10 key learning’s that I took away from the initial funding process. I will share them in this blog over the next weeks. I hope they are helpful.