Unveiling the second-time founder magic
Unveiling the second-time founder magic
Round 2? Shall I do it again?
After selling my first company I was devastated. Round 2, meaning starting something new, truly wasn’t my first thought. Rather the opposite.
Selling sounds so cool at first, but sometimes it’s the only good option you have.
When you’re getting started, you’re planning to build something big, something that changes the status quo, something that has a lasting impact.
Selling isn’t necessarily what you dream of... Although it still might be a better outcome than many others, e.g. just shutting down or insolvency.
Many people give up at this point and return to being employed. It might appear safer, less lonely, and offer more structure. And I don’t blame them. It depends on your life’s circumstances and your current priorities. Then there are others, that have reflected and understood that founding just isn’t for them. Fair enough.
But I’d argue, that most are just scared. Scared? Yes, scared. Because the first journey was so deeply painful. And again, I don’t blame them. They got themselves a bloody nose. The journey can be very (!) painful. The highs are high but the lows are even lower.
When we told our investors, we were going to stop working on Remi, our lead investor said something that I still remember as if it was yesterday, he said: “Don’t worry. PayPal was only successful on the third try.“
I heard him say those words but they didn’t catch me. I just wasn’t very confident anymore. Most other investors were mad at us and had been slapping us in the face while we were already lying on the ground suffering.
But even worse were the thoughts I had about myself:
I thought I might not have what it takes to be a successful founder. I thought that I wasn’t good enough… everything felt hard & heavy. The sleepless nights. The anxiety. I knew that 9/10 startups fail… but it didn’t matter. I wanted to be the exception! Don’t we all?
I was emotional and irrational.
But after a very low period, taking some time to reflect and recover, thinking about the words of our investor, I said to myself: F**k it! You’re always shit at something when you’re doing it for the first time. Let’s do this again! Let’s do it better and let’s see what happens.
So I kept on trying and in Round 2 I truly understood:
Things get easier when you’re doing them more often. You learn. You do things differently. Many times the circumstances just aren’t ideal on the first try (team, network, economic situation, you name it). You might go with a different team, a different problem, or a different funding source. You become less anxious & more confident. You know what to watch out for. You know what you want and don’t want. And the best part: You have more fun!!! 😍💥
What counts in life, also counts in entrepreneurship.
Big shots are only little shots that keep shooting. The more shots you take the more successful you will be. It’s no guarantee for success. But the probability of winning drastically increases.
Keep trying. It’s worth it. Let’s go for Round 2! 💪🏽
btw, if you feel seen at this point and can relate, whatever the outcome:
Take a deep breath and be proud of yourself for jumping! Be proud of everything you’ve achieved. It was extremely brave to jump into the unknown. You’re further than many others who’ve never even tried. Instead, you’ve learned a trillion things that will help you achieve big things — no matter what you do next: Round 2 or Employment. You’ll know best.
This was more of a motivational piece :) My next editions will be about my biggest learnings as a first-time founder and the Bento Story — a series of articles about the behind-the-scenes of launching & growing Bento, let’s call it “Behind the Grid”.
Stay tuned and subscribe to not miss it.
About the Author:
Valerie is a founder and passionate community builder. More here.
About the newsletter:
Her newsletter is sent every 2-6 weeks directly to your email inbox. In this newsletter, she captures thoughts, good reads & learnings. Think 0-1, early growth & GTM strategies, community building, brand & product positioning as well as her founder journey.