The Startup Velocity Question: The Human Element

I am acutely aware of how painful it is to have raised venture capital and then not hitting rocket speed.

The pressure is enormous, of the kind that first time founders have no prior experience of.

The media hype makes you believe that fundraising is the end game.

No, fundraising is only the beginning.

You have to deliver on precise metrics.

Velocity takes the highest priority.

And when velocity falters, the stress on the entrepreneur is inhuman.

From being a hero for raising capital, you are overnight reduced to feeling like a failure.

The possibility of an inglorious shutdown looms large, taking away sleep, making relationships rocky and unpleasant.

My one piece of guidance at the face of such turbulence is to seek the Truth.

Do not deceive yourselves.

Try to diagnose the problem with the business truthfully.

Do not take the market’s reluctance personally.
Do not let it destroy your personal self-esteem.

If you choose to work with an outside expert to get a diagnosis, be open to candor.
Do not shoot the messenger.
Keep your ego in check.

Listen.
Learn.
Course correct.

If you are a first-time entrepreneur going through such an experience, reach out to experienced mentors for help.

Strategy change often requires organizational changes.
They can be extremely complex in a high pressure setting.
Lots of pointing fingers, lots of defensive behavior boils in these hot waters.

To lead through all this is not for the faint of heart.

But it can be a tremendous learning experience.

Key Takeaways:

• Fundraising is just the beginning.
• Achieving velocity is the REAL goal.
• Stress on entrepreneurs can be immense when velocity falters.
• Diagnosing WHY is essential.
• Working with outside experts requires openness to candid feedback.
• Organizational changes during strategy shifts can be complex and challenging.

My Question to You:

Have you diagnosed your startup’s velocity issue?

If you think you need help, consider 1-on-1 Private Consulting with me. I will diagnose and create a path forward in an hour.

Photo by Mubariz Mehdizadeh on Unsplash

This segment is a part in the series : The Startup Velocity Question