The problem with the Internet startup craze isn’t that too many people are starting companies; it’s that too many people aren’t sticking with it. That’s somewhat understandable, because there are many moments that are filled with despair and agony, when you have to fire people and cancel things and deal with very difficult situations. That’s when you find out who you are and what your values are.
So when these people sell out, even though they get fabulously rich, they’re gypping themselves out of one of the potentially most rewarding experiences of their unfolding lives. Without it, they may never know their values or how to keep their newfound wealth in perspective.
Being in a startup is an incredibly rewarding experience. But it is a roller coaster. Sometimes quitting is the easiest option. But that’s what separates the men from the boys. The successful entrepreneurs stick with it to the end.
This has nothing to do with technology. When my parents started their restaurants, they had bad weeks and months. I’m sure there were times when business was slow and they thought they should give up. But they didn’t.
Entrepreneurship isn’t just starting something: it’s sticking with it, good times and bad, to make it successful.