{"id":5104,"date":"2020-11-09T23:37:45","date_gmt":"2020-11-09T18:07:45","guid":{"rendered":"https:\/\/www.jodi365.com\/singledout\/?p=5104"},"modified":"2021-07-05T15:19:12","modified_gmt":"2021-07-05T09:49:12","slug":"worries-that-keep-startup-founder-up-at-night","status":"publish","type":"post","link":"https:\/\/www.jodi365.com\/singledout\/worries-that-keep-startup-founder-up-at-night\/","title":{"rendered":"Worries that keep a startup founder up at night"},"content":{"rendered":"\n<p>Every entrepreneur has their variant of &#8220;The Struggle&#8221; that @BenHorowitz described eloquently: <a href=\"https:\/\/a16z.com\/2012\/06\/15\/the-struggle\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">https:\/\/a16z.com\/2012\/06\/15\/the-struggle\/<\/a><\/p>\n\n\n\n<p>I was asked recently about worries that keep <em>me<\/em> up at night. Read on. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>I have had different challenges dominate at different times over the course of building and growing Jodi365.com.<\/p>\n\n\n\n<p>For the background, first, including the story behind my founding a matchmaking platform for a changing India, see: <a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/www.jodi365.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.jodi365.com\/about-us<\/a><\/p>\n\n\n\n<p>The challenges have included:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Finding &amp; recruiting the right talent<\/h2>\n\n\n\n<p>Ask me about the time a potential tech lead a decade ago passed on the opportunity because his *father-in-law* advised him to stick to IT services, &#8220;because 80% of startups fail.&#8221;<\/p>\n\n\n\n<p>(&#8220;Welcome back to India!&#8221;)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Building a product that works <em>and<\/em> scales<\/h2>\n\n\n\n<p>Start with a minimum viable product, they say. Go to market quickly. Learn. Iterate. Over &amp; over. (Thank you, <a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/twitter.com\/ericries\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Eric Ries<\/a> &amp; <a href=\"https:\/\/twitter.com\/sgblank\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">Steve Blank<\/a>.)<\/p>\n\n\n\n<p>Still, easier said than done, more so when it&#8217;s a moving bus (and biz) that you have to overhaul.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Raising the necessary funds &amp; making sure that money doesn\u2019t run out<\/h2>\n\n\n\n<p>It&#8217;s one of the most important jobs of a startup CEO, they say. After all, &#8220;cash flows are more important than your mother.&#8221;<\/p>\n\n\n\n<p>It&#8217;s taken to an extreme at times:<\/p>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Kasu Panam Video Song - Extended Version | Soodhu Kavvum | Vijay Sethupathy | Santhosh Narayanan\" width=\"1320\" height=\"743\" src=\"https:\/\/www.youtube.com\/embed\/075Z7tJC_-I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Yet, they are right.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Retaining talent and<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">5. Dealing with inevitable team churn &amp; ensuring smooth transitions<\/h2>\n\n\n\n<p>We can prolong life, but not prevent death, and need to plan accordingly.<\/p>\n\n\n\n<p>That said, I often derive strength from: &#8220;If I could survive *that* key teammate&#8217;s moving on, I can survive *this*.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6. Figuring out the business model<\/h2>\n\n\n\n<p>Sell something for more than it costs; make money. Simple, right?<\/p>\n\n\n\n<p>Not so when faced with a difficult trade-off: Focus on profitability, or chase growth at the expense of near-term profits?<\/p>\n\n\n\n<p>See: <a href=\"https:\/\/bothsidesofthetable.com\/should-startups-focus-on-profitability-or-not-ae54fc95790e\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">https:\/\/<\/a><a href=\"https:\/\/bothsidesofthetable.com\/should-startups-focus-on-profitability-or-not-ae54fc95790e\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">bothsidesofthetable<\/a><a href=\"https:\/\/bothsidesofthetable.com\/should-startups-focus-on-profitability-or-not-ae54fc95790e\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">.com\/should-startups-focus-on-profitability-or-not-ae54fc95790e<\/a><\/p>\n\n\n\n<p>(Thanks, <a href=\"https:\/\/twitter.com\/msuster\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">Mark Suster<\/a>.)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">7. Marketing &amp; monetizing the business effectively<\/h2>\n\n\n\n<p>It&#8217;s rarely a case of, &#8220;Build it &amp; they will come.&#8221; What&#8217;s less clear is how best to get users to come on board.<\/p>\n\n\n\n<p>Sure, think AARRR! (h\/t <a href=\"https:\/\/twitter.com\/davemcclure\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">Dave McClure<\/a>), but pirates still have to pick the right channels &amp; steer right.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">8. Dealing with user churn<\/h2>\n\n\n\n<p>As if building a two-sided market (having to get men *and* women on board) weren&#8217;t hard enough, what makes the matchmaking business more challenging is the inherent churn.<\/p>\n\n\n\n<p>The better your platform, the sooner you lose customers! No LTV, only ARPU.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">9. Fretting about the competition<\/h2>\n\n\n\n<p>It was a natural worry, especially as others also woke up to the ripe opportunity for &#8220;disrupting&#8221; the staid matrimonial industry.<\/p>\n\n\n\n<p>Then again, seeing a good few dozen players come &amp; go, as I stayed alive, has helped me to stay focused on our game.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">10. Prioritizing continued product development smartly<\/h2>\n\n\n\n<p>I hear you, <a href=\"https:\/\/twitter.com\/hnshah\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">Hiten Shah<\/a>, and startup founders and product managers are wiser thanks to your having shared as openly as you have about *your* missteps:<\/p>\n\n\n\n<figure class=\"wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-product-habits\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"1yHUlTNFKU\"><a href=\"https:\/\/producthabits.com\/my-billion-dollar-mistake\/\">My Billion Dollar Mistake<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;My Billion Dollar Mistake&#8221; &#8212; Product Habits\" src=\"https:\/\/producthabits.com\/my-billion-dollar-mistake\/embed\/#?secret=1yHUlTNFKU\" data-secret=\"1yHUlTNFKU\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">11. Keeping software glitches in check and<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">12. Guarding against hardware crashes &amp; the loss of data<\/h2>\n\n\n\n<p>We can&#8217;t get away with saying, &#8220;It&#8217;s not a bug; it&#8217;s a feature.&#8221; And to paraphrase <a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/twitter.com\/danbharris\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Dan Harris<\/a> (in <a href=\"https:\/\/twitter.com\/10percent\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">Ten Percent Happier<\/a>):<\/p>\n\n\n\n<p>Sufi Muslims have a saying, &#8220;Praise Allah, but also take data backups.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">13. Ensuring that our software and sensitive data remain secure against hackers<\/h2>\n\n\n\n<p>One could say that that&#8217;s a good problem to have (to have a vault worth robbing), but I doubt that anybody says that when the problem actually happens.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">14. Dealing with regulatory overkill &amp; the complications that result from even unintended oversight<\/h2>\n\n\n\n<p>I&#8217;m bullish about India, yet wish that it did better on the ease-of-doing-business metric:<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">If you own a business in India or have a fiduciary responsibility at one, consider this a <a href=\"https:\/\/twitter.com\/hashtag\/PSA?src=hash&amp;ref_src=twsrc%5Etfw\">#PSA<\/a>:<br><br>Lately, when someone asks me what I do, I say, tongue-in-cheek, that I&#39;m in the business of ensuring that we&#39;re in compliance with business regulations, month after month after month.<\/p>&mdash; S. Anil Kumar (@aktxt) <a href=\"https:\/\/twitter.com\/aktxt\/status\/1154715198332080134?ref_src=twsrc%5Etfw\">July 26, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Bureaucrats, please look up the Law of Unintended Consequences.<\/p>\n\n\n\n<p>To be fair, dealing with red tape may be an occupational hazard for entrepreneurs globally.<\/p>\n\n\n\n<p>I once had to fly from India to the US solely because my US bank couldn&#8217;t\/wouldn&#8217;t let me initiate a wire transfer online or even over the phone!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">15. Managing user expectations and<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">16. Dealing with difficult clients<\/h2>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Bruce lee boards don&#039;t hit back\" width=\"1320\" height=\"743\" src=\"https:\/\/www.youtube.com\/embed\/7t0t-lG0L1k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>People, on the other hand, aren&#8217;t inanimate objects. They have expectations, both reasonable and unreasonable, and push back. They can be hard to deal with and require considerable soft skills.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">17. Warding off scammers and preserving the site\u2019s reputation for quality<\/h2>\n\n\n\n<p>Trust takes years to earn and seconds to lose.<\/p>\n\n\n\n<p>I worry about that.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">18. Maintaining team morale and keeping them motivated<\/h2>\n\n\n\n<p>It involves cushioning them from some stressors and openly sharing my challenges in dealing with some others.<\/p>\n\n\n\n<p>I like how <a href=\"https:\/\/twitter.com\/alexmturnbull\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener nofollow\">Alex Turnbull<\/a> describes the various hats that a CEO must wear.<\/p>\n\n\n\n<figure class=\"wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-groove-blog\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"hIybEt0UYZ\"><a href=\"https:\/\/www.groovehq.com\/blog\/startup-ceo-role\">The 10 Essential Roles of a Startup CEO<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;The 10 Essential Roles of a Startup CEO&#8221; &#8212; Groove Blog\" src=\"https:\/\/www.groovehq.com\/blog\/startup-ceo-role\/embed#?secret=hIybEt0UYZ\" data-secret=\"hIybEt0UYZ\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">19. Responding to crises and scampering to operate uninterrupted<\/h2>\n\n\n\n<p>Everyone&#8217;s coping with this pandemic. Prior surprises we&#8217;ve had to deal with: Citywide strikes, political uncertainty, prolonged power &amp; broadband failures, and the devastating 2015 Chennai floods &amp; its aftermath.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">20. Managing one\u2019s personal relationships and making regular deposits in one\u2019s relationship banks<\/h2>\n\n\n\n<p>It&#8217;s tough. Enough said.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">21. And being mindful, through all this, of my own emotions during the emotional roller-coaster that startup life is<\/h2>\n\n\n\n<p>So, there isn\u2019t any single fear; it\u2019s more a concern that, of all the possible things that can go wrong in any given week \u2013 and there is such a thing as Murphy\u2019s Law! \u2013 the floor may suddenly cave beneath me.<\/p>\n\n\n\n<p>I am grateful, though, that despite all this, I am generally able to sleep soundly and to wake up with a sense of purpose, a decade-plus in.<\/p>\n\n\n\n<p>I hope this post helps those who feel they must always project that they&#8217;re &#8220;crushing it!&#8221;  Pass it on.<\/p>\n\n\n\n<p>Editor&#8217;s note:<br>An excerpted version of this post appeared as part of an <a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/www.bangaloreinsider.com\/jodi365\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">interview in the Bangalore Insider<\/a>.<\/p>\n\n\n\n<p>You can also download <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.freeelective.jodi365\" target=\"_blank\" rel=\"noreferrer noopener\">our app <\/a>from Google Play Store.<\/p>\n<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>","protected":false},"excerpt":{"rendered":"<p>Every entrepreneur has their variant of &#8220;The Struggle&#8221; that @BenHorowitz described eloquently: https:\/\/a16z.com\/2012\/06\/15\/the-struggle\/ I was asked recently about worries that keep me up at night. Read on. I have had different challenges dominate at different times over the course of building and growing Jodi365.com. For the background, first, including the story behind my founding a [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":5114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,31],"tags":[],"class_list":["post-5104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-features","category-jodi365"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Worries that keep a startup founder up at night | SingledOut by Jodi365.com<\/title>\n<meta name=\"description\" content=\"Every entrepreneur has their variant of &quot;The Struggle&quot; that @BenHorowitz described eloquently. 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