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Episode 47 Startup Resilience Navigating Relationships for Early-Stage Founders
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Growth Hackers' determined that the greatest indicator of startup success is resilience:
“You might feel that things are moving slow in your company – that is natural. You may make decisions, that, in retrospect may lead to undesired consequences, or perceived setbacks in your goal to reach critical milestones. If you are an entrepreneur building a brand new startup, you probably have trouble seeing any light at the end of the tunnel from time to time.”
It’s how far startup success is defined by how far an entrepreneur is willing to go and wait to see its startup succeed.
One often overlooked reality about startups is that launching and sustaining one is not as straightforward as successful entrepreneurs might lead you to believe. Even with the current resources available to aid the growth and development of startups, persistent challenges remain. As a budding startup entrepreneur, be prepared to navigate numerous obstacles and endure difficulties.
Startups face many challenges in their journey to scale. An entrepreneur’s ability to effectively manage these issues as they surface is a sign of your character as you grow.
Many of these challenges are dependent on the relationships you create and cultivate along the way. What stories never get told are the failures that transpire because of these relationships. They could come from opportunistic clients unwilling to pay for services rendered, or from toxic employees or cofounders. They could come from once-enthusiastic partners willing to drive more value through their own relationships, but ultimately default on this promise. For many founders, these failures are hard lessons they take to the new set of relationships they encounter.
- Developing the right team
- Finding the right partners and vendors
- Selecting the right VC
Personally as a CEO, determining your limitations and making the decisions you think are right for the company, in those moments.
We were excited to host Devin Ramphal, Sector Manager for Innovation and Technology at the City of Brampton’s Economic Development Office and formerly CEO/Cofounder of Clean AIR which was acquired in 2023 and Jennifer Cameron, Co-founder and CEO of INVRS and formerly the founder of hyperWALLET, which was acquired by Paypal in 2018 for $400Million.
Both had important stories as founders who have navigated relationships in their startup journeys and provided some great insight from their own experiences to help founders build resilience.
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