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Willis Wee · · 7 min read18 essential reminders from one founder to another
After building Tech in Asia for over a decade, I’ve learned many valuable lessons along the way, some of which I have shared before. These lessons are things I wished someone had told me when I was starting out.
From having a clear vision to being kind, here are 18 essential reminders for those ready to take on the challenge of building a startup.
The rollercoaster of a founder’s startup journey / Image credit: Willis Wee for Tech in Asia using AI
1) Have a clear vision
It’s crucial to have a clear understanding of your startup’s mission and communicate it coherently to your team and stakeholders. This will help keep everyone aligned and focused on the same goals.
From 2015 to 2017, Tech in Asia raised over US$10 million. This made the team feel ambitious, but we were undisciplined. I lost sight of our vision by pursuing every opportunity that seemed promising and aligned with our mission of building the startup community.
Losing sight of our vision meant we burned a lot of money with no clear returns. We had to go through a painful layoff and spend years getting back on our feet.
2) Be adaptable
The world is constantly changing, and it’s crucial to adapt to new circumstances and challenges. Be open to new ideas and be willing to pivot when necessary. Don’t be afraid to experiment and try new things.
A lot of people don’t know that Tech in Asia tried launching a subscription service as early as 2013, but it didn’t work out. The necessary technologies weren’t available, and the market wasn’t ready to pay for it.
We made the difficult decision to kill the project in 2014. However, we kept the idea on ice and relaunched the subscription service five years later when the conditions were more favorable. It turned out to be a better fit for the market and has been a valuable revenue stream for us.
3) Hire the right people
Your team is one of the most important factors in your success, so it’s essential to hire people who are skilled and who share your values and have the passion for what you’re doing.
When you onboard the right people, you’ll feel energized working with them. I’ve been lucky enough to hire some very talented people who have dug in and fought alongside me through tough times. You know who you are.
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