Linda Rottenberg / November, 2017
Linda Rottenberg's Top 3 Advice to Founders
Linda Rottenberg, Co-founder and CEO, Endeavor has been building Endeavor for the last 20 years where she has supported entrepreneurs from all over the world.
Linda Rottenberg’s Top 3 Advice to Founders
Key advice to founders. One, get a startup prenup. most founders cofound companies with their best friends with their family members. They think ‘oh, we don’t need a startup prenup. That’s terrible. We know each other so well.’ Guess what, things change, someone wants a lifestyle business, someone wants to grow, someone was CFO for the first round and cannot scale. You need a clean way to organize your equity, to organize the roles when things are not going well. Get the startup prenup, that’s number one.
The second thing is that chaos is your friend that if you’re trying to disrupt the status quo, you need to hope for chaos not avoid chaos. Obviously, you have to manage your way out and be very efficient. But I think sometimes, especially in the beginning if situations are turbulent that’s when entrepreneurs can take advantage of those moments.
The third is to get yourself a circle of mentors, not just one. I think we put too much pressure on the perfect soulmate mentor. That stresses me out. I have to find a boyfriend and a mentor in the beginning. Now I have a husband, I still don’t want to found the mentor. Creating a circle of mentor relieves the pressure, so it’s not just one person who is leading you up through the career. You’re getting advice in finite chunks. If you have to fire one of your mentors and if they fire you, it’s ok. You get people in different industries, with different skillsets and from different age groups, so get a circle of mentors.