A letter to founders who are burning out

Photo by Kenny Eliason on Unsplash

Dear founders,

I feel you. As founders, we’re no strangers to the uphill battles, sleepless nights¹, and uncertain times. But in the face of an economic downturn, the challenges can feel overwhelming.

Yet it is also in moments of hardship that our true strength shines through. The tech winter is testing our resolve, forcing us to refine our strategies. (Goodbye, growth at all costs! 👋)

Capital isn’t as readily available, and profitability is paramount. It’s the bitter medicine that founders and our community needs to swallow in order to mature.

Another realization: VCs can’t fund your business indefinitely – only satisfied paying customers can.

The pressure can be intense, and it’s natural to feel discouraged. I do too, believe me. 😔

Lately, founders burning out and wanting to quit have become more common. Many founders in my circle, for example, are also new parents, adding to the stress².

But don’t lose hope. The tech winter has been tough, but remember that the cold doesn’t last forever. Spring always follows, and the promise of renewal comes after the ice melts away.

More often than not, success doesn’t follow a straight path. Here’s my journey:

🤦 2010-2012: I raised my seed round and boldly claimed, “Fundraising is easy. Who says solo founders can’t succeed?” I was so wrong.

💸 2012-2013: I didn’t know the difference between P/L (profit and loss) and cash flow, and I received a valuable lesson as a result. In a nutshell, P/L shows if a business is making or losing money over a specific period, but it doesn’t account for when that money is received or spent. Tech in Asia nearly ran out of cash at one point – this experience was a defining moment in my personal growth.

🎢 2014-2016: Things were going well. Our burn rate was incredibly low, and we maintained financial discipline. Joining Y Combinator (YC) taught me how to build something that people truly want. Going through YC and spending six months in Mountain View, California, opened my eyes to a lot of realities.

😦 2016-2018: I got distracted and misapplied the lessons from my YC experience. We had to undergo restructuring and layoffs, making 2018 one of the most difficult years in TIA history.