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Show Notes
In today's Startup Therapy Podcast, Wil and Ryan discuss why you should stop listening to investors. While investors can provide valuable insights and expertise, founders should exercise caution when relying too heavily on their advice. Investors often prioritize financial returns and short-term gains, whereas founders have a deep understanding of their vision and long-term goals. Over-reliance on investor advice may compromise the original vision and unique value proposition of the business, hindering its potential for growth and innovation. Founders should carefully evaluate and consider investor advice while staying true to their own vision and strategic direction.
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What to Listen For
- 00:00 Intro
- 02:19 Investors are not fortune tellers
- 06:42 They just speculate everything
- 08:11 What one investor says doesn’t represent all the investors
- 09:13 Investing in a certain industry doesn’t make them an expert
- 10:31 Match their advice with their experience
- 12:45 If you want advice, go to experts
- 15:35 A well-intended advice can still derail you
- 16:27 Even if it’s a strong opinion, it doesn’t mean it’s right
- 21:20 Get a lot of feedback but consider the source
- 23:04 Checkbooks = writing checks, not giving advice
- 24:22 Investors can give bad assumptions, so don’t treat them like gospel
- 28:33 A positive feedback might actually mean “no”
- 30:09 Nobody can turn the wheel other than you