{"id":950,"date":"2022-11-10T17:49:29","date_gmt":"2022-11-10T17:49:29","guid":{"rendered":"https:\/\/www.microsoft.com\/en-us\/startups\/blog\/?p=950"},"modified":"2024-10-15T01:13:58","modified_gmt":"2024-10-15T09:13:58","slug":"early-stage-founders-insidevc","status":"publish","type":"post","link":"https:\/\/www.microsoft.com\/en-us\/startups\/blog\/early-stage-founders-insidevc\/","title":{"rendered":"Advice for early-stage founders &#8211; #InsideVC"},"content":{"rendered":"\n<p><em>This is the first of four posts offering practical advice to early-stage founders from an entrepreneur turned venture capitalist. <a href=\"https:\/\/shriftman.medium.com\/\" target=\"_blank\" rel=\"noopener\">Jonathan Shriftman<\/a> is a partner at <a href=\"https:\/\/xcap.vc\/\" target=\"_blank\" rel=\"noopener\">Expanding Capital<\/a>, a growth stage VC fund that invested in companies like Coinbase, Cameo, Classpass, Postscript and Astra Rockets. Previously Jonathan founded Humin, an AI-powered address book that was acquired by Tinder, and <a href=\"https:\/\/www.solebicycles.com\/\" target=\"_blank\" rel=\"noopener\">Sol\u00e9 Bicycles<\/a>, the first direct-to-consumer online bicycle retailer.<\/em><\/p>\n\n\n\n<p><em>We sat down with Jonathan and asked him for his best advice for young entrepreneurs at the earliest stage of forming a startup.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Pursue your passion<\/h2>\n\n\n\n<p>One piece of advice that I have for startup founders early in their journey is to build something that you are an expert in. It should be something that you&#8217;re going to be committed to for the next seven to 10 years of your life. Ask yourself these two questions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Is this business going to be something that you&#8217;re excited to wake up to every single day?<\/li>\n\n\n\n<li>Is it a big enough problem to solve?<\/li>\n<\/ul>\n\n\n\n<p>If the answer is \u201cyes\u201d to both of those questions, then get going. Run, don&#8217;t walk. If it&#8217;s worth solving, it&#8217;s worth solving right now. When you&#8217;re building your business and you&#8217;re committed to it, remember that patience is a virtue, but persistence to the point of success is a blessing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Look for mentors not board members<\/h2>\n\n\n\n<p>At the pre-seed and seed stage level of your company, you don\u2019t need to be thinking about giving away board seats to investors. Most companies at pre-seed don\u2019t have a board.<\/p>\n\n\n\n<p>There are things that you should do, like surrounding yourself with positive mentors. This might be a professor, an old colleague, or a boss. It might be someone that started a business similar to yours, or in a similar industry. Oftentimes, with mentors, if they believe in what you&#8217;re building and they believe that it&#8217;s meaningful and worth spending their time on, you might decide to give them advisor equity. Advisor equity is a small percentage of stock in your company, usually through stock options.<\/p>\n\n\n\n<p>If you have enough mentors, you might create a board of advisors. When you surround yourself with the right group of advisors, it can help launch your business \u201c<a href=\"https:\/\/www.diamandis.com\/blog\/line-of-super-credibility\" target=\"_blank\" rel=\"noopener\">above the line of super credibility<\/a>,\u201d as defined by one of my mentors, Peter Diamandis.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"video-container responsive-youtube oembed-container\"><p id=\"ariaLabel_68017f8b0455b\" class=\"screen-reader-text\">YouTube Video<\/p><iframe loading=\"lazy\" title=\"YouTube Video\" aria-labelledby=ariaLabel_68017f8b0455b\" title=\"Advice for early-stage founders - #InsideVC\" width=\"100%\" height=\"560\" src=\"https:\/\/www.youtube-nocookie.com\/embed\/Bnss7gsXM-I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p><em>For more tips from venture capitalists and access to the resources you need to see your startup through its next challenge, <a href=\"https:\/\/foundershub.startups.microsoft.com\/signup\" target=\"_blank\" rel=\"noopener\">sign up today to Microsoft for Startups Founders Hub<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ask yourself these two questions: Is this business going to be something that you&#8217;re excited to wake up to every single day? Is it a big enough problem to solve?<\/p>\n","protected":false},"author":1,"featured_media":952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ms_queue_id":[],"footnotes":""},"categories":[201,72],"tags":[197,118,122],"coauthors":[610,611,609,612,509],"class_list":["post-950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-founder-advice","category-fundraising","tag-insidevc","tag-fundraising","tag-venture-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Advice for early-stage founders - #InsideVC - Microsoft for Startups Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.microsoft.com\/en-us\/startups\/blog\/early-stage-founders-insidevc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advice for early-stage founders - #InsideVC - Microsoft for Startups Blog\" \/>\n<meta property=\"og:description\" content=\"Ask yourself these two questions: Is this business going to be something that you&#039;re excited to wake up to every single day? 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