Startup: The Value of Persistence and Long-Term Thinking

persistence Startup entrepreneurs are a brave lot. The odds of success are against them and the journey of taking a company from zero to hero, or basement to boardroom, is both all-encompassing and permeates every nook and cranny of a founder's life.

Most startup entrepreneurs inherently know the entrepreneurial road less travelled is paved with blood, sweat and tears. However, one common phrase often used to describe startup entrepreneurship is 'expect the unexpected'. What about the surprises? What are the unexpected twists and turns that most startup entrepreneurs don't anticipate?

That's precisely what Paul Graham wanted to find out. Paul is a partner in the well-known startup incubator Y Combinator which has funded over 100 early-stage companies. Paul recently sent an email to over 100 founders in an effort to learn more about the 'unexpected'.

So I sent all the founders an email asking what surprised them about starting a startup.

Here are some of the most popular things that surprised startup entrepreneurs the most:

* Issues with cofounders - Choosing the wrong cofounder(s) can lead to big problems down the road.

* Startups take over your life - Your startup is your baby, literally. It will occupy your attention morning, noon and night.

* It's an emotional roller-coaster - The highs are high, the lows are low. It's an extreme way to work/live.

* Persistence is the key, think long-term - One of the most common surprises among startup entrepreneurs was how important persistence was as a precursor to success;

"Everyone said how determined and resilient you must be, but going through it made me realize that the determination required was still understated."

"If you are persistent, even problems that seem out of your control (i.e. immigration) seem to work themselves out."

"I've been surprised again and again by just how much more important persistence is than raw intelligence."

In addition to persistence, the actual length of time it takes to grow a successful business caught many entrepreneurs off-guard;

"I'm continually surprised by how long everything can take. Assuming your product doesn't experience the explosive growth that very few products do, everything from development to dealmaking (especially dealmaking) seems to take 2-3x longer than I always imagine."

"The top thing I didn't understand before going into it is that persistence is the name of the game. For the vast majority of startups that become successful, it's going to be a really long journey, at least 3 years and probably 5+."

These are some great tips to be mindful of when thinking about starting a new company. Clearly the value of patience and resilience can not be over-stated.

For more insight on starting a startup, Paul Graham's essay What Startups Are Really Like is a must-read.

photo credit: flickr user: /J

TAGS: Culture, Entrepreneur, Entrepreneurship, Startup

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