Proportionality

Here’s a dose of reality that some people won’t like – the value of the advice you get is proportionate to what you pay for it.

Non-technology founders of early-stage businesses can get into a mindset where they think they don’t know what you doing, and they will go out and seek advice from people who will tell them.

In my experience, this is sort of deadly, because a) you probably do know what you’re doing, it just feels new and you assume you don’t, and also imposter syndrome is a thing, and b) advice – proper advice – is fantastically expensive and you likely can’t afford it as a startup.

Or you can get sucked into paying for advice by giving away equity in your new business, and this can very quickly get disproportionate, with advisors ending up with a slice that’s hugely overvalued compared to the input they put in early doors within the business.

I would, where possible, try and work things on your own where you can – at least, look to be more selective and when you ask for advice, who from, and consider how much it costs you.

24/Sep/2023