Experience Matters in Startup Success
We use this simplified graphic to make a point about how our #coaches help you to increase your chance for success. It shows the statistical probability of an exit based on the founders' experience.
The data is based on a blog post by Benn Stancil, Co-Founder of Mode who discusses the question: "Are experienced founders better?" He goes in great detail about the challenge to provide an answer. The majority of founders are first time founders and the data confirms that the experience of both the founders or founder teams correlate with success.
Ali Tamaseb, partner at DCVC a San Francisco based VC firm came to similar conclusions. For his book Super Founders, he researched "over 30,000 data points, examining why some companies turn into billion-dollar companies while most others don’t". He found that repeat founders were more likely to reach unicorn status. He points out that “practice makes perfect, even in entrepreneurship.” - highlighting that building anything, even a side project or non-profit, correlates with later success.
Ali's observation resonates with our own experiences. Experience matters. Most challenges our startup CEOs face are not big roadblocks that require new mystical super powers. Often it's the dialog with somebody who has been there before, that make the difference. Tapping into your local startup community, joining a slack channel or simply meet fellow founders are often great first steps. Or, find a coach that has been in your shoes.