I chatted with an aspiring founder recently. He’s a senior software engineer at a start-up valued at a few billion dollars. He’s been there for several years. He joined when they were a team of one hundred—it’s now one thousand. His equity is fully vested, and he’s excited about leaving to start his own company.

He’s currently in search of the problem he wants to solve. He’s investigated a few problems and done discovery, but none panned out. He’s also looking for someone to join him. Specifically, he’s been looking for someone technical. This stuck out to me, and I asked why. His response was simple: I want to be CEO and need someone to build the product.

As we chatted, I shared my learnings as (1) a nontechnical founder who regretted not having a technical cofounder and (2) an investor who’s talked with countless aspiring nontechnical founders who deeply understand a problem and have an idea of how to solve it but lack the technical skills necessary to build a solution:

• The problem is where it all starts. The more painful it is and the more people who experience the pain, the better. If you haven’t found the problem you want to solve, there’s nothing wrong with listening to the problems other aspiring founders want to solve. Nontechnical aspiring founders with deep understanding of a problem (i.e., founder–market fit) are always looking to connect with aspiring technical founders.
• Building a team best suited to solve a particular problem is the goal. Great team members have complementary, not overlapping, skills. Hiring people to do what you don’t want to do will likely lead to overlapping skills and team gaps (in his situation, great technical abilities but no deep understanding of a problem—or no problem at all).
• Titles don’t mean much in early-stage companies and often change. Having the CEO title is great for the ego, but it isn’t worth missing out on solving a great problem or working with a strong team.

These points resonated with this aspiring founder. He’d recently realized he was limiting his cofounder prospects by focusing only on people with technical skills and had been thinking about changing his approach. What I said about my experience confirmed some of what he was already thinking. 

This founder is super smart and has the drive to build an amazing business. I can’t wait to see where his entrepreneurial journey takes him!

I love talking shop with entrepreneurs. Today I was at a social gathering where an established entrepreneur told me about his approach to acquiring new customers. He runs his business out of Atlanta, but there’s heavy competition (i.e., low margins) in Atlanta. He’s from a smaller city three hours from Atlanta. The people in that community don’t have access to the caliber of products his company sells. They’re used to paying top dollar for low to medium quality and driving an hour to do so.

He devised a simple marketing strategy. He’s an alum and former athlete at the local high, so he sponsors the football and basketball teams. His company logo is painted on the football field, and every time the home team scores, the announcer reminds the fans that his company backs the team. He bought the scoreboard for the basketball team with his logo displayed front and center. His goal is to stay top of mind with the people in the community, and it works. When they’re ready to buy, they think of him. He makes the sales process electronic, simple, and smooth. He arranges for purchases to be delivered to their door. They get a better product at a fair price and support a business that supports the community. This strategy is highly effective. He gets a steady stream of customers from this low-tech approach, and his average cost to acquire a customer is ridiculously low.   

What this entrepreneur realized was that there’s an underserved customer niche that he understands better than most. He focuses narrowly on them. He markets to them in a way that resonates with them and that has the dual benefit of doing good in the community. He made the sales process something they could do from their home, which they weren’t used to. The end result is that he’s built a thriving business and is the market leader in that city using a very low-tech and inexpensive marketing and sales strategy.

I like to keep my finger on the pulse of new technologies and emerging trends, but it’s easier said than done. One of the ways I do it is by catching up with early-stage founders who are building in that space. The founders in the early days of launching a company are typically as close to ground level as you can get. They’re usually hands on keyboard and in the weeds of everything. Hearing how they’re applying new technologies and what positives and negatives they’ve experienced helps me understand things from a practical perspective. I also try to make sure these conversations are bidirectional by providing feedback on anything that’s on the top of their mind (that I can help with).

I’ve found that this is a great approach to staying abreast of new things and maintaining relationships with and giving back to early founders.

I recently had a conversation with an aspiring entrepreneur. He wanted my thoughts on a company he was considering starting in a space I’m familiar with. During our chat, I learned that he’d been an early employee at a tech start-up and stayed for several years. That company recently sold for a few billion dollars. His equity as one of the first few employees gave him a financial windfall. Because he was on board so early, he worked closely with the CEO for several years, and they still talk regularly. The CEO encouraged him to start a new company and offered to back him once he settles on an idea.

I love to hear stories like this. An early employee is part of a company that turns out to be a massive win. He gets a significant financial reward. Seeing his former CEO’s journey firsthand makes him want to take the same journey. And he already has the backing of his former CEO, who knows his drive and worth ethic.

These are the kind of stories that, when repeated, lead to a city having a thriving start-up ecosystem. We need more stories like this!

As I’ve been researching more public-market companies, I’ve noticed that most of the CEOs aren’t the original founders. That makes sense for companies that have been around for many decades. But it’s true even for companies started within the last twenty years.

This got me thinking. It’s difficult to take a company from zero to, say, ten million in annual revenue. Many founders struggle to level up as the company goes through various transitions. Going from zero to hundreds of millions or billions of dollars in annual revenue must be a gargantuan task—one that only the rarest and most talented founders can accomplish.

I’m now wondering, what traits do these founders have in common that help them go from zero to billions? They level themselves up continuously—what’s their secret?

Over the next few months, I’m going to spend time learning about a few founders who are still CEOs of public companies founded in the last twenty years. I’m curious about what I’ll find—and then whether their traits exist in any early-stage founders I encounter.

I had a conversation this past week with an entrepreneur who’s run a successful business for several years. During our conversation, I realized he didn’t know the cash flow of his business—or what that means. After more chatting, I realized that he didn’t understand his balance sheet either. He didn’t know how much he owed others or how much he’s owed. He mainly bases his decisions on his bank account balance and profit and loss statement. This approach to decision-making has hindered the business’s growth over the years.

In college, I was forced to take accounting classes as part of my finance curriculum. I’m not much of a rule follower and hated memorizing countless accounting rules. Many years later, I can’t remember any of those rules to save my life. But the concepts stuck with me. How to read core financial statements and how the statements work together to show you a complete picture of the business are the biggest takeaways from those courses. When I was an entrepreneur, those foundational concepts improved my decision-making. Now that I’m an investor, they’ve helped me spot opportunities and problems early that others have missed. I hated my accounting courses and don’t remember most of what they covered, but they taught me how to understand accounting. 

Accounting is often called the language of business. To thrive in business, entrepreneurs need to speak the language—or at least understand the foundational concepts underpinning accounting. If you’re an entrepreneur or aspiring to be one, consider taking time to learn basic accounting concepts. It may be difficult, but it will likely pay off in the long run.

I recently caught up with a friend who happens to be an investor at a large, Silicon Valley–based venture capital fund. His firm focuses on the seed stage, so they’re used to being the first check into a company before the incorporation papers are completed. He said his firm reviews over a thousand deals every month and he attends countless pitch meetings. 

I was fortunate enough to sit in when a seed-stage founder pitched him. At the end of the pitch, he gave the founder great advice on how to improve his pitch by communicating the company’s potential and his vision unapologetically (i.e., with extreme confidence). He left the founder with a quote that stuck with me:

Good founders help you see up the road. Great founders help you see up the road and give you a peek around the corner. What’s around the corner—IPO, big exit, big impact, etc.?

Seeing what’s ahead on the current path is easy because everyone can see it. No imagination or convincing necessary. But to help people see around the corner, you must paint a picture of what can’t be seen and get people excited about the possibilities. A great founder can do this, and it helps with raising capital, recruiting, and closing deals with customers and partners. My friend’s firm believes that the ability to help others see around the corner is a superpower that great founders have. Building a company is hard, but this superpower increases the chances of outsize success.

If you’re a founder or aspiring founder, ask yourself, “Am I helping people see up the road and around the corner?”

Today I had a chat with an early-stage founder about his origin story. He participated in CREATE‑X’s Startup Launch program at Georgia Tech. He had an idea when he entered the program that he built into a working product with a handful of paying customers with the help of CREATE‑X.

Part of the program involved attending sessions with other founders. At one of those sessions, another founding team asked if anyone could help with ad campaigns and A/B testing, areas this founder was proficient in. He began helping, and after a while he was spending more time on the other team’s solution than on his own. After a few weeks of working well with the team, they asked him to join them as their third founder. He agreed, and now they’ve launched an MVP with paying customers. They’ve all decided to pursue this idea full-time and are looking to raise seed capital.

For entrepreneurs, being around like-minded people who are attempting to accomplish similar things is powerful. Not only do they learn faster because of experience sharing, but being around other founders can lead to serendipitous interactions that result in amazing opportunities. Kudos to this founder and his cofounder for joining CREATE‑X. I’m excited to follow their journey and the company they build!

This week an entrepreneur friend pinged me about an idea. We did a call and he laid out his idea for solving a problem that impacts a large segment of society. He went on to explain how his solution is now possible only because of AI. He was energized by the idea and its possibilities. We talked for a long time, and I left the call with a new perspective.

I can’t predict the impact that AI technology will have. But I can see that AI is having an impact on how entrepreneurs think. It has entrepreneurs more excited than I’ve seen in a long time. They’re overflowing with ideas around potential solutions. They’re thinking bigger about the impact of their solutions. And they’re starting to view challenging problems as solvable.

AI is affecting how entrepreneurs think, and that’s bound to have an outsize impact on society.

I caught up with an early-stage founder considering his company’s next steps. The runway is shrinking. He’s pursuing several paths, including raising more capital or selling the company. The market isn’t as big as he initially thought, and the business doesn’t have the potential to become a nine- or ten-figure company. He’s accepted that fact and doesn’t want to pursue an option that requires a nine- or ten-figure exit for success.

The probabilities are low that this founder’s current company will get him the type of exit he hoped for when he started the company. He feels he has a lot left in the tank and wants to use that energy on something high return.

This founder is an entrepreneur at heart. He has the drive and intelligence to build something amazing. Unfortunately, the market for his first business is smaller than he and his investors envisioned. He also happened to raise capital in the 2020–2022 window when valuations were inflated. These and other dynamics have taught him painful but valuable lessons that he’ll carry forward.

This founder is part of a group of founders who, I think, will experience pain with their pandemic-era companies but go on to have wildly successful second acts. They may not realize it, but the things they’re learning and the relationships they’re building now will be immensely valuable and contribute significantly to their future success.