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Mr Lanng – is one of the guys with the fastest and most focused CPU’s in town. He has been so generous – to start as blog today. And It only shows his absolute mastering of communication and transparrency in running a StartUp on speed.
Here is a snippet:
“It scared the shit out of me. Being from a nation where government welfare is the default, a nanny state, I can see how “hygge” can kill any startup. The reality is that Tradeshift is still very much a startup: we might look like a real company, but underneath that very nice and well-marketed exterior is a fragile being in its most dangerous state – “a startup looking like a real company”. read more
And the blog is HERE - http://noisetoclarity.com/
Im pretty happy that I think I have convinced him to work with me – at my new incubator. (more about that after Christmas)
Act Dont Talk
Friday was a huge day in my life. Alexander (my partner) – managed to settle a very very very complex legal fight (article here).
I have never been a fan of lawsuit and stayed out – for as long as in any way possible. But it got nasty – and our counterpart was both hard and smart (unfortunately). The problem was one of those big ones – that you cant wait out… We had no chance to do any business – and the more heat we had – the more of our clients got scared.
I should have listened 18months ago (but I was too self confident & stupid) when a very good and highly respected friend told me to (lets call him Rob Stavis): “Morten – you must freaking settle instantly and get to business – it does not matter if you are right or wrong”. He was so right. To small new players in a giant market should not spend 1min fighting – they must join forces not to get killed by the Hangar-ships send by the existing big “land owners” in the marketplace.
I was to slow – to much thinking about ego, fairness, rules, laws and pride – instead of just doing what took Us 18months.
I have the greatest respect for our competitors – and specially that we have done it gentlemen style – and will for sure have a beer after the fight.
PS. Im a little very proud (mostly proud of Alexander). Unlike the other day at The Europas (I will post about that soon)….
The “What did I Say” pessimists
Avoid lazy negative pessimists in startups.
Im having a blast these days. Its too good to be true – life simply has played the best of all tricks on me. Now that Tradeshift is showing traction – and now that it looks like I will be part of something really disrupting again. A lot of the people who have been: “What did I say – you fucked up” – are starting next wave: “Bravo – Tradeshift is impressive – Will but will it ever make money??? Or is it just a black hole for investors”. My answer: Yes I believe that Tradeshift will be an extremely lucrative business – but it will take a long time and cost a hell of a lot of money. And as always I have to underline once again (dear highly valued readers) – I DONT HAVE A CLUE. This business is THE DEFINITION OF HIGH RISK. The same goes with EVERBREAD – where we have also raised a lot of cash – from people who choose not to buy 60 Ferrari’s - but chose to believe in Assen and Everbreads vision.
But remember that not even if you look at Venture Capital from a lottery perspective is it good business:
7 of 10 fails
in first shot.
From founders and early employees you need inifinate amounts of ENERGY. When salleries are not paid on time – and when programming seems harder then worst case imagination… ENERGY is what it takes – since every startup company also require 2-4 fundamental strategy changes. Changes so deep that its like starting a company from scratch. (Count on that).
is the #1 timekiller – its a whole startup in it self to get out of Bankruptcy. I have had 4 people fulltime during the whole process – I have been lending money for the process (big money – to pay all creditors). Think about it – who is crazy enough to lend money to a mann who is bankrupt or work for free for me believing in future value . All these people who believed in me and my skills and crazy visions – only supported financially by my ability to do s*#% ass expensive consulting and speaking gigs. I will do a whole blogpost of these people when Im 100% free. Because I have off course - already been gambling with my salaries and consulting fees – to convert to shares in the startups Im working for. But it also means that Im not fully fully out of the risk of fall back to bankruptcy – only 98% there.
My point here is that it takes many lifetimes to hit a lucky strike – and making one successful startup – here is some back of the envelope math:
x7 StartUps to make a winner
x2 Total REstrategy
leaves x6 potential bankruptcies
Sum: 84 “StartUps” x 4years for each = 346years is what it takes to make one successful Company :)
If you want to find the energy for this 346y gamble – then dont get too involved with people who say: “Look – It failed – What Did I Say”… Act – dont talk – find people with unlimited ENEGERY – and find a lot of them.