{"id":20052,"date":"2021-09-16T17:11:14","date_gmt":"2021-09-17T00:11:14","guid":{"rendered":"https:\/\/foundersnetwork.com\/?p=20052"},"modified":"2022-02-27T08:21:19","modified_gmt":"2022-02-27T16:21:19","slug":"7-personal-lessons-i-have-learned-about-building-great-startups","status":"publish","type":"post","link":"https:\/\/foundersnetwork.com\/7-personal-lessons-i-have-learned-about-building-great-startups\/","title":{"rendered":"7 Personal Lessons I Have Learned About Building Great Startups"},"content":{"rendered":"

Serial entrepreneur <\/span>Micha Breakstone<\/span><\/a>, co-founder of Chorus.ai, which was <\/span>recently acquired by ZoomInfo<\/span><\/a> for $575M, has every reason to focus exclusively on his many successes, but he prefers to speak openly about his experiences as a founder and startup advisor. He believes that success is only possible when individuals are willing to learn from challenges, as well as wins.<\/span><\/h3>\n

\u201cIn my experience, most startup founders that learn from their mistakes end up succeeding. It may not be a multi-billion-dollar success, but they end up building something of real value and in that sense succeeding,\u201d he says.\u00a0<\/span><\/p>\n

Breakstone presented a keynote speech at <\/span>fnSummit 2021<\/span><\/a>, in which he\u2019ll detail seven lessons for founders. He\u2019ll tell personal stories and offer advice on topics such as the importance of choosing the right co-founders, knowing market size, building your team and pushing for speed to market.<\/span><\/p>\n\u201cAs a founder, you\u2019re selling the future. You're selling a vision.\u201d - @MichaBreakstone <\/a><\/span>Share on X<\/a><\/span>\n

Create perceived momentum<\/b><\/p>\n

According to Breakstone, being the fastest at getting a product to market is critical, but that\u2019s just the start. A company must also create the sense that they\u2019re moving even quicker than they are, a concept he calls \u201c<\/span>perceived momentum<\/span><\/a>.\u201d<\/span><\/p>\n

\u201cAs a founder, you\u2019re selling the future. You’re selling a vision. Your company is getting a valuation of $50 million before you have earned a cent because people believe that you understand something about the future that they don\u2019t yet, and that you can get them there,\u201d he explains. <\/span>Perceived momentum can be generated by hiring people or appointing board members who are stars in their field. \u201cIf you have 10 people on your development team and four are out of Google, you\u2019re already looking bigger than you are,\u201d he says. Breakstone also suggests that founders publish thought pieces that position themselves as leaders and that they invest in a compelling design language.\u00a0<\/span><\/p>\n

\u201cAnother trick to build momentum is to space out your company announcements. If you have made five advancements quickly, announce them over a few weeks, so that you create the sense that you are continuously moving forward,\u201d he suggests.<\/span><\/p>\n

However, Breakstone cautions not to create a false sense of reality. Honesty and authenticity are key. \u201cYou don\u2019t have to have all the answers. You just have to convey the confidence that you are moving quickly to find the right answers,\u201d he says.<\/span><\/p>\n\u201cYou're selling a dream, so it better be a dream that is worthwhile. I think it's important to be motivated from a deep place. If it's only for money, it's going to be hard to maintain over time.\u201d - @MichaBreakstone <\/a><\/span>Share on X<\/a><\/span>\n

Believe in your mission<\/b><\/p>\n

Creating a buzz only works if you believe in what you are creating. He explains: \u201cYou’re selling a dream, so it better be a dream that is worthwhile. I think it’s important to be motivated from a deep place. If it’s only for money, it’s going to be hard to maintain over time.\u201d<\/span><\/p>\n

Breakstone will share some of his own experiences with finding a <\/span>sense of mission<\/span><\/a>, detailing how the objectives of a company may change over time, but the mission and vision can be maintained, anchoring decisions in deeply considered company values.<\/span><\/p>\n

\u201dAt the end of the day, getting employees, investors, and customers to follow you is so much easier if (a) you have a deep and compelling vision of the world, and (b) you actually believe in it.\u201d<\/span><\/p>\n\u201cYou can scare people into working hard. You can try to \u2018buy\u2019 people into working hard, but one thing you can\u2019t do is buy their hearts and souls.\u201d - @MichaBreakstone <\/a><\/span>Share on X<\/a><\/span>\n

Put people before product<\/b><\/p>\n

Of all the lessons he presents, Breakstone is most passionate about the need to treat people \u2013 the team, clients and co-founders \u2014 with respect. Aside from it being the right thing to do, he also adds that he believes it is a predictor of success.\u00a0<\/span><\/p>\n

\u201cI\u2019ve worked with over 200 companies in the last three years, and I can tell you that people who take care of others succeed more than those who don\u2019t.\u201d\u00a0<\/span><\/p>\n

He cites a <\/span>Google study<\/span><\/a> that found that \u201cpsychological safety,\u201d a state in which people feel comfortable being vulnerable and <\/span>empowering others<\/span><\/a>, was the number one predictor of a successful team.\u00a0<\/span><\/p>\n

\u201cYou can scare people into working hard. You can try to \u2018buy\u2019 people into working hard, but one thing you can\u2019t do is buy their hearts and souls. The only way to truly motivate them is by treating them well, treating them as partners in your journey.\u201d\u00a0<\/span><\/p>\n

Check out our <\/span>video<\/span><\/a> from the event and see if you <\/span>qualify for membership<\/span><\/a> to attend upcoming Founders Network events. <\/span><\/p>\n

 <\/p>\n

fnSummit<\/span><\/i><\/a>, taking place from October 13-15, 2021, is an annual event where <\/span><\/i>founders, investors and partners<\/span><\/i> come together to <\/span><\/i>explore the theme of growth. Located in a beautiful resort in California\u2019s Carmel Valley, the event offer participants a chance to network, share ideas and enjoy a variety of recreational and team-building activities.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Serial entrepreneur Micha Breakstone, co-founder of Chorus.ai, which was recently acquired by ZoomInfo for $575M, has every reason to focus exclusively on his many successes, but he prefers to speak … <\/p>\n

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