2) Doing a startup is a marathon. It's pretty brutal. You have to train. And you have to pace. And you have to rest. But sometimes you have to sprint. But most ppl can't sprint the whole way.
3) In fact, a lot of people don't realize that when you run an actual marathon, a lot of great runners don't even run the whole way.
Jeff Galloway is a former Olympian who hit his best time by doing a run-walk in a marathon. Yes walking. jeffgalloway.com/training/run-w…
4) Why? Just like in a startup, there are many points in a marathon where you'll need to really run.
But you also need to be rested enough / not injured so that when you need to run, you have enough energy to do so.
5) For most ppl -- including Olympians, all of this leads to *faster times* than just trying to run the whole way.
Crazy right? How can some walking lead to a better time than running the whole way?
(FWIW, it's worked well for me)
6) The same applies to startups. @HustleFundVC which has its own startup pressures of fundraising, marketing and revenue, we are fanatical about making sure our team has enough rest.
We now grade our teammates on "how well they vacationed" to keep each other accountable.
7) What does it mean to "vacation well"? It means to
-get off the grid (don't log in / don't respond to emails)
-don't work on anything work related
It doesn't mean to even go anywhere. It just means to rest the mind.
8) I would encourage every company to keep teammates accountable and grade ppl on how well they vacationed.
In fact, rest is necessary in order *to move faster*.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
One of the fascinating things about investing in startups is the risk to reward profile.
A quick thread >>
1) I just tweeted about friends who have done really well in crypto. Eg if you got into Solana at $0.50-0.60 per token just last year (so not even the exclusive pre-sale price), you’d be up 300x!
Capital, knowledge, & networks are 3 key parts to startup success. Traditionally, those have been limited to a small # of entrepreneurs, but now are becoming more accessible to all.
1) This reminds me of what helped me / would've helped me w/ my own startup journey.
I started my co in late 2008 - right as the financial crash was happening. I couldn't raise any $$ for many yrs.
Capital has always been challenging for many entrepreneurs & I was no exception.
2) The recession was certainly part of the problem, but the bigger problem is that I didn't know what I was doing and had horrible business ideas:
Some thoughts and reflections on growing the company over the past few years:
Read on >>
1) Starting your own VC is a lot like starting a tech company. You have to raise $$ (when you have no brand) and you have to create brand so your customers (startups) will find you.
Everyone tells you you're too early. :)
2) A key difference is that you are signing up in increments of decades because you are committed to each fund for 10 years.
Having been a startup founder before, my mode of operation back in the day was thinking 1 year at a time.