By Adam Jusko, ProudMoney.com, firstname.lastname@example.org
If you are an aspiring entrepreneur who has made a habit of reading online technology blogs and/or Twitter feeds of Silicon Valley venture capitalists (VCs), you might get the idea that the only “real” way to start a business is to formulate a “home run” idea, get deep-pocketed investors to provide the capital, then grind out a world-changing organization that puts a dent in the universe while making everyone involved ridiculously rich. It’s a very intoxicating idea, and each time you read about a startup being acquired for hundreds of million of dollars, it feeds the narrative that this is the only path any legitimate entrepreneur should follow.
However, the potential pitfalls of swinging for the fences with other people’s money is rarely addressed. That’s why Rand Fishkin’s new book Lost and Founder is so welcome. Not only does Fishkin pull back the covers on the pressures and conflicting goals of startups and their backers, but he does so in such a regular-guy way that you can easily put yourself in his shoes and understand the extreme highs and lows that come with being in charge of such a venture.