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The Problem of Press

When you or your company receive press, something too good to be true happens: you feel a sudden inflow of success and accomplishment, people compliment you for the writeup you received, and everything feels great. Problem is, you start to get lazy. You settle into this comfortable feeling of accomplishment, when in reality, not a single thing has changed before and after the press you received.

A few days ago, TechCrunch broke the news that inDinero raised $1M from angel investors. I thought it'd be cool to share, but it never struck me as a big deal. Raising money is possibly the most boring part of working on a startup, so if anything, I wanted to be done with it. What happened next was interesting: dozens of my friends and acquaintances sent me congratulatory emails and facebook wall posts, and the moment felt like I was being congratulated for giving birth or doing something actually monumental. Raising money, in my opinion, is the least monumental thing that can happen to ones company. But it sure is press-worthy! While friends give me pats on the back, Paul Graham from Y Combinator tells me "Now you just have to not screw it up!" It's like what a good asian parent would say; just because you got As in school doesn't mean you'll actually succeed in life. I sense that a lot of first-time entrepreneurs get too much pre-mature press (because it's so easy to get), only to have it prevent them from doing what's best for their newfound businesses.

To prevent having this problem myself, I've conditioned myself to get more antsy after getting any congratulatory letter. I translate "congratulations" into "don't f*ck it up", and it puts me in this ideal place in mind where I feel good about having accomplished a very limited milestone, but understand that it doesn't actually mean anything as far the big picture is concerned. I highly recommend other first-time entrepreneurs do the same. Press is great, but in reality, nothing has changed since your writeup. Now back to building product.

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7 Comments

Sep 05, 2010
David Damore said...
You are creating the right frame of mind. To not let small wins seem like the whole pie is critical. It seems many people let little things represent the end of success. Those who do, get not much further.

Keep your eye on the ball, you have a great opportunity to make meaning for others and yourself.

Sep 09, 2010
Arthur Klepchukov said...
Great advice! Glad to see you're effectively managing the attention. I look forward to more of these kind of practical insights from you.
Sep 25, 2010
Gil Cardenas said...
This is awesome to read. I am 22, I just finished my degree in International Management and I am deciding whether to start my own business or work in Corporate America. It is a breath of fresh air to hear that some one in the same age bracket is out in the real world and making headlines. Good luck!!!
Sep 26, 2010
William Kasel said...
Jessica,

I totally agree - it can be easy to become complacent. My first company started doing well, and when we didn't have to worry about bills, and started focusing on expansion, it struck, that "ok, let's chill now" mentality. Obviously, we had to shake it, but it's easier said than done.

Now, with my second company, we just got TechCrunch coverage (http://techcrunch.com/2010/08/24/tapplocal/), (I'm sure you know the influx of inquiries that come in), and this time, luckily, we kept our heads on right.

All-in-all, I totally agree with you. So as one to another, I say, Don't f*ck it up. :)

Cheers,

William Kasel

Sep 28, 2010
Chris Ly said...
This is a great attitude to have. Though I have no experience with raising money from VC's and whatnot, I'll be sure to keep this in mind IF it ever happens with me :)
Oct 14, 2010
Paddu Govindaraj said...
Congrats, Jessica. I guess this is a good problem to have. Having too many customers, active prospects and PR is always good to have! BTW, just came across your interview in BNET and checking out your stuff. You have got to a great start. Keep it up.
Nov 19, 2010
Derek Andersen said...
Jessica -

I agree that it seems like when you go so long without anyone caring, then all of a sudden having everyone care makes you want to exhale, but really you need to just kick things into a higher gear.

Good insight.

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