50% Doesn’t Matter

At the end of the day, if you don’t own the preferred shares in your startup, you don’t have ultimate control of a company. You do still have plenty of say — you are the founding CEO after all — but even if you’re careful about how much equity you sell, you quickly answer to someone else when it comes to selling, raising more capital and taking on debt.

Six Things Every Founder Needs to Know, Part 2

As a first-time founder, having Eric tell me that I wasn’t fucking anything up, and that this was a normal part of the process, was invaluable to me. By reframing it from “this last 20 percent is taking too long,” to “I was really only 20 percent of the way done,” I was able to take a step back, realize I was at a different point than I thought I was, and move forward from there.

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