Ready to start a startup? | Shreyas Doshi (Former PM leader at Stripe, Twitter, Google)
Nov 18, 2024
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In this engaging discussion, Shreyas Doshi, a product leader turned founder with experience at Stripe, Twitter, and Google, shares valuable insights on the journey from employment to entrepreneurship. He highlights the key traits that successful founders possess, such as thriving in ambiguity and embracing personal motivations. Shreyas challenges the mainstream belief that venture-backed startups are the only path to success and offers strategies for avoiding burnout. Listeners will discover the importance of niche markets and enhancing product sense for startup success.
Individuals who excel in ambiguity may find greater success as founders rather than adhering to traditional product management roles.
Reflecting on personal motivations for entrepreneurship is crucial, as there's often no perfect time to start a startup journey.
Mastering storytelling is essential for founders, as it significantly influences engagement with customers, investors, and team members.
Deep dives
Identifying Founder Traits
Individuals who thrive in ambiguous environments may possess traits better suited for founding rather than traditional product management roles. This demographic often feels like impostors as product managers, believing they’re not meeting expectations in structured roles that rely heavily on established systems. Conversely, these traits can translate into exceptional success as founders, where they can exercise greater freedom and agency. Embracing their unique strengths can lead to fulfilling entrepreneurial journeys that align more closely with their intrinsic abilities.
Exploring the Right Time to Found
Determining the right moment to transition into founding a startup is complicated, as there may never be an ideal time to jump in. Founders are encouraged to deeply explore their motivations, reflecting on why they wish to create a startup and why they're considering this path now. Preparing for a lengthy journey often characterized as a 10-plus year commitment helps in setting realistic expectations. Such thorough self-exploration can prevent rash decisions spurred by short-term challenges like job insecurity.
The Importance of Storytelling Skills
Effective founders and product managers share a critical skill: storytelling. Being able to convey a compelling narrative is essential for gaining buy-in from customers, investors, and team members alike. If individuals struggle with storytelling in their product roles, it signals potential challenges in a founding position where captivating narratives are crucial. Enhancing storytelling abilities, alongside other essential competencies like strategic insight and customer understanding, significantly bolsters one's capability as a founder.
The Distinction Between Context and Agency
Success as a product manager can stem from operating effectively within established systems, while founding a startup often requires creating momentum from a blank slate. Many product managers excel due to the existing context provided by larger organizations, which can mask individual contributions to success. Founding demands a shift in mindset to create and navigate through initial uncertainties without the support structure of a larger company. Reflecting on past experiences of creating momentum can illuminate one's readiness to embark on the entrepreneurial path.
Finding Your Path and Alternatives to Venture Funding
Many aspiring founders mistakenly equate the entrepreneurial journey with needing to establish a venture-backed business, overlooking alternative paths that may better suit their ambitions and context. Smaller, cash-flow positive ventures can fulfill entrepreneurial spirits without the overwhelming stress of chasing venture capital funding. By exploring niche markets and developing businesses that meet specific needs, founders can avoid competitive pressures and foster sustainable growth. This approach not only relieves the burden of high expectations but can also lead to fulfilling and profitable enterprises.
I'm joined by product leader turned founder Shreyas Doshi to discuss the founder's journey and when starting a company might be the right move for you. We challenge common startup wisdom and explore why traditional career advice often misses the mark for aspiring founders.
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Timestamps
(00:00) Teaser: Why average PMs can make great founders
(01:17) Introduction
(02:34) The essential first step before founding
(06:21) Successful founder traits
(10:48) Managing at scale vs managing uncertainty
(18:25) Thriving in ambiguity
(21:29) Red flags: when founding isn't for you
(23:34) The surprising link between average PMs and founding success