$80m founder – revisiting after 4 years :D

Earlier today, a fun post I wrote four years ago re-surfaced under a different author and reached the HOT list before being removed by mods for plagiarism.

The original post is here: https://www.reddit.com/r/Entrepreneur/comments/jz0236/80m_founder_telling_it_like_it_is/?share_id=yqNypYHrUxunREo9Pk9bW&utm_content=1&utm_medium=android_app&utm_name=androidcss&utm_source=share&utm_term=1

Four years have past since I wrote it and it got me thinking…have any of my views changed!

What happened to me?

As for those who are wondering about my company, its worth about $100m today. Revenues grew a lot, then flatlined. The rocket ship ran out of juice!

Although the business was loss-making when the post was written, it has since turned profitable. That was really nice to see.

I sold secondary through the journey and own just under 10% now.

I also stepped down from my day to day role at company 1 and started my second company. My new company is worth about $15m and I own the majority of it. It's also profitable already – not sure I want a second venture journey!

Am I still lurking on this thread?

Nope. I actually left the subreddit. I got tired of reading the same old get rich quick schemes and the constant posts from people who were worried that their incredible ideas would be stolen.

So, four years on – have my views changed?

Entrepreneurship is NOT about big ideas – I am firm in my belief that entrepreneurship is not about big ideas. The longer I've been in this game the more founders I've met who have relatively normal ideas, executed very well. With generative AI, the floodgates to big ideas have opened. Now is the best time to build!

Successful entrepreneurs spend more time empowering others to build their business – Still believe this and perhaps even more so today. This time around I have delegated my core responsibilities to others much faster and have been rewarded with faster growth and a better work life balance (I've got a bigger family now).

Businesses aren't built for you – This time I've given away a lot more equity in the business to my team. This was only possible because I own a much larger stake this time around.

Essentially, my views haven't changed at all.

Any new learnings in the last four years? A tonne! A few that spring to mind that are not total cliche:

1. Investors create politics. You may not want to play but its in the company's best interests to do so.
2. Losing the majority stake is harmful to your strategy
3. The superstars in your org are often difficult to manage because they need your attention. But it is so worth giving it.
4. Hiring the right people is so much more important than I thought it was
5. Use every single unfair advantage you have
6. MVPs are over!
7. It is an advantage when you own the majority and your competitors have to strategize with a board.

Anyways, best of luck!