Investor Stories 351: Key Advice (Walsh, Aoun, Dukach)

Investor Stories 351: Key Advice (Walsh, Aoun, Dukach)


On this special segment of The Full Ratchet, the following Investors are featured:

  • Colin Walsh
  • Adrian Aoun
  • Semyon Dukach

We asked guests for the most important piece of advice that they’d share with folks early in their venture career.

The hosts of The Full Ratchet are Nick Moran and Nate Pierotti of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area.

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Transcribed with AI:

0:18
Welcome back to TFR. On today’s special segment, we asked guests for the most important piece of advice that they’d share with folks early in their venture career. Here’s the segment called key advice.

0:36
On today’s special segment, we

0:38
have Colin Walsh of viral bank. Colin, if you could share one piece of advice with a new founder, what would you tell them? Well, I would say the first thing that I usually tell folks and I actually had this conversation with someone the other day was like, I think I’m gonna go start a company. I said, that’s great, you know, if you have something that you really believe in, and you’re really passionate about, but just be sure you don’t underestimate how hard it is like, you know, the the menu, you you go to bed at night thinking and solving problems, you wake up in the morning thinking solving problems, you know, it’s 24/7, it’s all the time, like when you have a real owners mindset that this is like, it just doesn’t go away. Like you have to kind of block a lot of stuff out to sort of have that sort of maniacal focus around what you’re trying to do, and how you make it successful and thinking around looking around all the corners. And you have to make sure that you’re also taking the people that matter in your life along with you on that journey, because it is intense. And it’s long, you know, everybody thinks that it’s going to be done in a couple of years. And it’s some for some people, I think it’s definitely the outliers, that they can start something and, you know, be billionaires in a in a few years. But you know, for most businesses, you know, it’s a long, long slog, and you know, you’re gonna go through market cycles, like we’re going through now. And so I think for anyone who wants to start a company, you know, recognising just how much personal effort is going to be involved, and being willing to do that and having this sort of tenacity and resilience. I mean, like, if I look at, you know, entrepreneur that, you know, you’ve probably heard this a million times before, but like, who I really admire is in his journey with Steve Jobs, and like, not only could he see a future that others would maybe it wasn’t clear to them yet, like a level of grit and resilience. And I think one of his famous quotes was, you know, I’m, I’m convinced that about half of what separates successful on entrepreneurs from non successful ones is just pure perseverance. And I would definitely underscore that. Yeah.

2:37
On today’s special segment, we have Adrian Island founder and CEO of forward, Adrian, if you could share one piece of advice with a new founder, what would you tell them? Don’t do it? Don’t do a start up until it’s fucking awful. Like, I tell people I sleep like a baby I wake up every two hours and cry like I mean, like literally, like, you will not have a good night’s rest until you know it’s, it’s I’ve never owned a boat, but everybody who owns a boat tells me the best day of owning a boat is the day you buy it and the day you sell it right? Well, it’s you know, it turns out startups are kind of the same. They’re a fucking grind. So don’t do it. And you know what, if you listen to me saying, Don’t do it, and you’re like, too bad, I’m still gonna do it, then you probably should go do it. That’s right. Like if, if it’s a choice, don’t do it. If it’s not a choice, you’re doing it. Thanks. Up to you being like, I’m thinking of having kids. I mean, I’m not sure here’s the pros and cons. Like don’t have kids don’t know. Yeah, I love that.

3:37
On today, today’s special segment we have Semyon do Kotch of one way ventures segment, if you could share one piece of advice with a young new investor, what would you tell them?

3:45
Well, I assume you mean like an angel investor or fund investor?

3:50
Yeah. fund investor, a new a new associate at one way or a new firm that was reaching out asking for advice.

3:58
Below, I think the font you really have to pick, you have to have it’s just it’s repeatable, could turn into some process that can scale. And if you’re joining one, you know, join one that you believe it right. Like, don’t assume that you know, which is the glamorous thing is to get the receipt, right. Like it’s not, it’s not at all for everyone. As a investor, I think you develop something, it’s just some belief right yourself about what’s, what’s a good investment and why. And I think you need to seek conviction, you need to look at enough stuff to get to the point where you’re like, very sure. You shouldn’t ever, you know, hedge your bets and make smaller bets because you’re so certain, right? The thrill of the election, and I think you also need to if it’s an early stage investor, like like us, you really have to believe in that person. You have to care about the person truly care about the person and believe in them and be willing to fight To the you know, be willing to die on that hill saying you’re gonna back this crazy fire on Earth, nobody else understands. But, you know, yesterday, yesterday reasons it has to be able to articulate that. But don’t look for that don’t don’t expect to, you know, get quick outcomes or whatnot, just use the practical, you know, day to day life of an investor as a incredible opportunity to get to be near people you love and believe in and want to be near. And you know, that’s really what it is like, you know, because you can bring some capital to them or you can help them in some other way, you’ll get to be near them. So pick the people you really want to be near right and back to them. And you’ll probably do better than if you try to do what everyone else is doing. Yeah.

5:54
That will conclude this instalment of investor stories. If you’re enjoying the programme and would like to see it continue. Take a moment and leave a five star review in iTunes. Okay, that will wrap things up for today. Until next time, over prepare, choose carefully and invest confidently thanks for joining me