Founder Exits are Hard Work and Good Fortune, Not "Good Luck"

Founders don't get lucky — that's how lottery winners make their money. [View this email in your browser]( • [Forward to a Friend]( We Earned This Exit, It Wasn't The Powerball TL;DR: "I've just been fortunate enough to have an exit at my startup, yet everyone around me keeps telling me how "lucky" I am. I don't know what feeling "lucky" feels like, but all of this work to get here sure didn't feel like luck to me. Is it?" Founders don't get lucky — that's how lottery winners make their money. From the outside, though, it often looks the same. People read about a company going public or hear about some Founder they know getting their startup acquired and think "Wow, what good luck they've had!" They view our windfall as some stroke of luck, and as importantly they view our proceeds as something that should be doled out to everyone. In the worst case, they may even try to make us feel guilty about such great fortune — if we haven't already done that to ourselves. Today’s Advice Sponsored by [Jamf]( It wasn't "Good Luck" it was "Good Fortune" In order for a Founder to exit they couldn't rely on luck. Luck is what happens when we're at the blackjack table and you get dealt an ace and a king. Luck is what happens when we buy a random lottery ticket and through some benevolent force of chaos, the very same numbers are called to win. Fortune is what happens when we show up, day after day, against all odds, trying to create something in the universe that would have never existed without us. Good fortune is what happens when the sum total of that effort turns into some giant pile of cash that would have never existed without us. We may have had some luck along the way, but luck doesn't pay bills — effort does. Our Good Fortune isn't Someone Else's Fortune The challenge with having good fortune is that it's often very visible to others, whether we intend it to be or not. In most cases, the first reaction for those that hear about our good fortune will be "How will this affect me? Where is my share?" It's everywhere, whether it's the third to last employee we just hired or the third cousin twice-removed who we didn't even know existed until we just got that random Facebook friend request. Sometimes we need a reminder that it's our money to give if we choose, but no one else's to take as they please. We earned it, they didn't. That's how this works. Enjoy Every Penny When I'm fortunate enough to speak to a Founder who has recently had any kind of wealth event I always open with the same response "Enjoy every single penny. You've earned it. Whatever you do with it, don't feel guilty, don't think twice." Oddly that advice is rarely heeded. Most Founders feel incredibly guilty about their newfound wealth, no matter how hard they worked to get it. We live in a world of disproportionate gains, and it's nearly impossible to overlook that. To that I would offer this consideration — no one has anything to say when we lose. No one comes to a failed Founder and says "So sorry you've risked and lost everything, here's how I'm going to repay all of your losses!" Our Losses, Our Wins If we're going to be in a business where no one is concerned with our risks and losses then we have to accept a world where no one should have a say in our victories. You've earned every penny my fellow Founder — now go enjoy it! [Read More Here!]( Small biz without IT? No problem: manage your Apple devices easily with Jamf Now If your small or medium-sized business uses Apple products, you may not need IT to make your processes more efficient. [Check out the Jamf Now]( mobile device management (MDM) solution, an Apple-only platform empowering employers to manage iPhones, Macs, iPads, and Apple TVs at scale. Jamf Now makes everything from device deployment and onboarding to security easy and allows you to customize and optimize Apple devices for your team. [Streamline your device management today]( with a free account including three devices, and add more for just $2 monthly per device. In Case You Missed It [How Much to Pay Yourself.]( As a Founder, how do you determine how much to pay yourself? How much is too much or too little? We’re breaking down the long-debated issue of Founder compensation to help you find the right balance. [How Founders Get Rich Without An Exit]( (podcast) Let's discuss how being too focused on getting rich causes missed opportunities, if selling your Startup is even necessary, the cash stacking effect, and the effects of spending money you haven’t earned yet. [My Startup is Worth Millions. Why am I Broke?]( It's not uncommon for Founders to have all of their net worth tied up in their company without a real dollar to show for it. Our startup might be worth millions on paper, but is there a way to turn it into real money? Love this topic? Hate it? Let's chat on social media! Wil Schroter Founder & CEO @ Startups.com [Share]( [Share]( [Tweet]( [Tweet]( [Forward]( [Forward]( Copyright © 2022 Startups.com, All rights reserved. You are receiving this email because you joined Startups.com. Our mailing address is: Startups.com 1201 Dublin RoadColumbus, OH 43215 [Add us to your address book]( Want to change how you receive these emails? You can [update your preferences]( or [unsubscribe from this list](.