What a Startup Founder wishes they had known before entering the startup industry
As a founder, Jorrel wishes someone had told them that original ideas are less important than execution, because "everyone has the same ideas;" therefore, the most important preparation for this space is building a "deep expertise of knowledge" and a strong, unmatched professional network to establish competitive advantages. Jorrel suggests "some foundational prep" in these areas would have been more effective than diving in headfirst and learning from mistakes.
Entrepreneurship, Networking, Expertise, Execution, Self-Development
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Jorrel Sto Tomas
Entrepreneur, Founder
Early Stage Start Up
UC Berkeley
N/A
Economics, Political Science, American Studies
Technology
Business Strategy
Took Out Loans, Worked 20+ Hours in School
Video Highlights
1. Originality of Ideas vs. Execution: Everyone has similar ideas, so success in entrepreneurship hinges on effective execution.
2. Importance of Deep Expertise: Building a deep expertise of knowledge is crucial as it serves as a personal competitive advantage ('moat').
3. Value of a Strong Network: Developing an unmatched network is essential because the tech world is interconnected, and relationships matter significantly.
Transcript
What have you learned about this role that you wish someone had told you before you entered the industry?
Being a founder, you'll go through many ideas that you think are really good. Before I became a founder, I believed I had original thoughts or unique ideas no one else had.
The truth is, everyone has similar ideas. It all comes down to execution.
If you want to be in this space, even before starting your own company, two things are crucial. First, build deep expertise. This will be your personal moat.
Second, build a network that no one else can match. These are the only two things that matter. Everyone will have the same ideas, and the tech world isn't that large.
Everyone will know the same people. So, it's important to build these moats as early as possible.
The most important thing I'd tell you is to develop yourself before entering this space. It's easy to jump in headfirst, but some foundational preparation would have served me much better than making the mistakes I've made over the last five or six years.