The ability to ask the right questions at the right time to the right people is an essential skill for every entrepreneur. For Michael Seibel, managing director at Y Combinator, action sometimes needs to take a back seat to asking, “Is this working?”
Michael learned early on that by stopping to ask the counterintuitive question, he gained the wisdom—and avoided time lost on big mistakes—that ultimately propelled him forward.
Shortcuts don’t work
Before making a decision, ask yourself if it needs to be made immediately or if waiting can provide a better, multivariable solution. Asking uncomfortable questions and seeking advice from the right people can lead to success.
Successful entrepreneurship requires asking the right questions, even if they are difficult.
Learn from Michael Seibel’s skill of asking counterintuitive questions to delve into motivations and assumptions. Shortcut solutions don’t work in business.
We had to be very clear about what we were doing and why we were doing it. We had to emphasize the obvious.
I think that leadership is about being a student for life. You have to keep learning and growing and evolving.
Finding motivation and preparing for failure as a founder
When starting a company, it’s important to identify your deep source of personal motivation that will keep you going through tough times. This motivation may stem from irrational ties, such as working with a best friend, solving a problem in your community, or running away from something.
Founders need to understand that their business may not work and should prepare themselves for a lower level of success than they expect.
Seeking feedback from the smartest people you know will help you determine whether your idea is worth pursuing before you invest a lot of time and energy into it. Keep making irrationally good decisions by constantly asking questions and examining your motivations.
Talk to users, not investors
- Identifying personal problems and asking oneself the right question can lead to drive and success in entrepreneurship.
- Founders should start companies to solve personal problems and find a mission with limitless possibilities.
- Don’t overlook important questions such as the sustainability and scalability of your product when starting a company.
- Always be proactive in asking the big questions to ensure future success.
- Building a strong network is important for short-term survival. Talk to users instead of just investors. Justin.tv’s mistake was asking investors for advice instead of users.
- Focus on what inspires users for success.
The key to learning is not just asking questions, but also listening to the answers. And sometimes the answers are not what you expect or want to hear.
Learn from the difficult questions
By understanding the motivations behind a decision, entrepreneurs can make better decisions and stay true to their mission. It’s important to look at multiple viewpoints and ask deeper questions.
Embrace and learn from the difficult questions and challenges in life, as they define who we are as humans and drive personal and professional growth beyond what measurable metrics can show.
Product market fit
Focus on product-market fit, not just company building. Beware of the false notion that money, employees, or smart investors will solve problems. Irrational motivation, such as working with a friend, is necessary for successful entrepreneurship.
Before starting a company, identify your personal motivation and prepare for the possibility of failure. Seek feedback from smart individuals to determine whether your idea is worth pursuing. Keep making good decisions by examining your motivations.
