Lately, I’ve been thinking about why projects in my past have succeeded or failed. Was it the idea? The team? The market? Access to funding?
Yes… and no. For the projects that failed, I think actually most problems could have been solved:
Wrong idea or market? We could have pivoted.
Wrong team? I could have found more and better people, or removed team members that didn’t perform well enough.
Lack of funding? We could have bootstrapped further, found more “soft money” (grants and loans), asked friends and family.
All in all, I’m becoming more certain that commitment is what determines success or failure. All problems can be overcome if you’re dedicated enough.
If you want your company to succeed, prepare to commit:
Get yourself a financial runway so you have (at least) 6 months where you can focus 100% on your company. I’ve tried several times to start a company while consulting half-time, and I can’t recommend it.
Find co-founders and advisors that can support you, but who you are also accountable to. It’s very easy to quit if it’s only up to you.
Align your priorities with your family. My wife is also an entrepreneur and we have two small kids. It’s not easy, but it can be done.
And with Weld, I’m committed as hell. I will drag it by its hair, kicking and screaming, if that it what it takes. I will make it work.