Before succeeding, being a startup founder sucks big time

Update: For greater accuracy on facts, we made minor changes to the fourth paragraph based on information we learned from Alvin Yap.

At the Founder Institute Singapore graduation event yesterday, TMGamer founder Alvin Yap dished out some practical advice to a room of hopefuls who are embarking on their own rollercoaster startup ride.

He’s been there before: After graduating from Founder Institute, his company, which distributes games to emerging markets, has gone through both triumphs and setbacks.

Last we heard from him, the company had about six million gamers playing over 26 games. It also raised $1.46 million from SingTel, Singapore’s largest telco.

Yet he recently had to execute a re-organization to focus the company on key projects which led to losing 40 percent of his workforce. As the CEO, it was a horrible decision that only he can make.

It’ll suck before you become successful.

Alvin shared three stumbling blocks founders will encounter:

1. Nasty relationships

Co-founder agreements are essential. Close relationships may turn toxic once you realize the company has outgrown them.

Ultimately, founders have one singular goal: to keep the company going until success comes to them. That means firing close friends if necessary.

2. Emotional stress and insecurity

What doesn’t kill you fucks you up mentally.

Before succeeding, you’ll wonder why you turned down that lucrative job and have no social life. Pressure aside, the biggest problem you’ll face is insecurity, wondering whether you have the goods to make it big.

Freebies for founders

Final thoughts from Alvin