Hang on to Uncertainty

This startup thing is crazy.

As I'm able to share experiences on this blog - I plan to. These are going to act as memos to myself - reflections if you will. 

I always say rocket-ships don't have rear view mirrors but every once in awhile it's nice to reflect on your trajectory (to make sure you know where you're going).

It's no mystery that starting up is like riding a roller coaster... no, make that a vomit comet. Things can be/seem really good and things can seem/be really bad. The harder you work the faster the inflections happen. It's important to ride the hype cycles (the good times) and reflect on your actions/put your head down and work through the lulls.

One thing most of us struggle with is uncertainty. The "what ifs" of your business. It can be discouraging but it's the only emotion/feeling that really drives one to find the answers. An entrepreneur is always looking for the light at the end of a seemingly endless network of tunnels. Sometimes your mind plays tricks on you though - little flashes of light lead to dead-ends and back tracking to the right path is a daunting task.

That's why we fail early and often. Don't let yourself get too far down the rabbit hole - find every reason why your decisions don't make sense.

That uncertain feeling you're having is fuel for your rocket-ship. Get the mixture right and you won't explode.

@michaelrlitt

A Personal Update

It's been awhile - I wish I had the time and initiative to handle this blog AND the business. The reality (and what many of you don't know) is that I'm still enrolled in my undergrad. Fortunately for myself, the business and everyone in my life, I'll be finished my degree on April 19th.

Beer will ensue.

The past 4 months have been very busy. The business is succeeding, we're hiring, we visited some VC's on SandHill road, set up shop with an office in Sunnyvale, CA (at the Plug and Play Tech Centre), sponsored TedX Waterloo, had a booth at the Tech Leadership Conference (where we met Geoffrey Moore) and continually ramped up business for Redwoods Media.

The new news is that we've built a platform for video. We've received traction from big enterprise all the way to small business/startup. The product - vidyard - is still undoubtedly in alpha, but it's robust and useable. Features are being added/implemented every day.

Looking at my blog posts from roughly 6 months ago is fun. I'm amazed at my insight then but also intrigued at how fast things have changed. I plan on sharing some lessons learned on this blog over the next few weeks. Chances are (if you're reading this) - you're following me on Twitter or a friend of mine on Facebook. If you are running a business or thinking about starting one, tune in here. If you have questions or concepts you'd like me to write about - feel free to ask! 

Thanks to everyone for hanging in there - especially those close to me. You know who you are!

@michaelrlitt

Don't be a Wantreprenuer! 

Don't Be a Wantreprenuer

Don't be a wantrepreneur, I used to be one.

I go to a fair number of networking events. I generally use these as an opportunity to develop warm leads for redwoods media.

Since we're not exactly selling bread to a bakery, cold-calling is fairly ineffective and we end up relying on daisy-chained "warm" referrals from customer to customer, lead to lead, and acquaintance to acquaintance.

I often run into people I would wholly classify as wantrepreneurs. These are the people I avoid, as they're often pitching any number of ideas with minimal competitive or market analysis entering the event.


I hate hearing about new social networks, apps and widgets. I hate hearing about startups that require $3M to develop a software product. The catch? The exit strategy is always acquisition based. The reality? VC's aren't investing as much. If you don't have grey hair or a solid team of extremely-talented folk, you'll never get the money.

It's with this in mind that I really condone something VC's hate and rarely ever invest in: the "lifestyle startup".

I classify a lifestyle startup as something that can break even within 6-8 months and perhaps be sustainable within  the first year. These are the companies that start by addressing a customer's need or absorb a small portion of some existing market share by implementing small value adds and innovations.

They don't experience insane growth or make millionaire's overnight. They DO allow you to experience entrepreneurship, management, cash flow and independence. Isn't that what you wanted in the first-place?

Don't be an wantrepreneur. Focus on one thing, that will make you money/be sustainable in the short-term. Make small evolutionary pivots as necessary and recognize when the ship is sinking. That's the key to the city my friend.

@michaelrlitt