I stopped chasing unicorns. And I became wealthier and happier in the process. For most of my career, I played the VC game: build fast, raise faster, aim for a billion-dollar business or go bust trying. And in my twenties, I was hooked. Despite what the statistics (and logic) tell you, you create this reality distortion field where you convince yourself you’ll be the exception. You’ll be the one who makes it. But here’s what I learned the hard way: Building a unicorn is sold as ambition, but it’s often just self-delusion dressed in hustle. After years in that world, I realised I’d have been far wealthier (and far happier) building boring businesses. Agencies. Non-VC-backed ventures. “Lifestyle” businesses, as VCs like to condescend. But here’s the irony: they’re called lifestyle businesses because they give you exactly that - the freedom to choose how you live, instead of being stuck on the VC treadmill. When you own 100% of a profitable business, even one that sells for £10 million, that’s life-changing money. Meanwhile, the founder of a billion-dollar company typically owns 1.5-4.0% at IPO. It’s a lot of money, but it comes from giving up control, piling on a mountain of stress, and pigeon-holing yourself into a structure where anything less than a $1bn+ exit is failure. WTF?! So now, my advice is simple: stop chasing unicorns. Start building businesses that give you purpose, ownership, and a good night’s sleep. And if that ends up being worth £30 million one day, then that’s fantastic. The backbone of every economy isn’t venture-backed; it’s the small to medium-sized, profitable, boring businesses run by brilliant people. For those wondering, I never did build a unicorn and, today, I think I’m better off for it. #Entrepreneurship #BusinessGrowth #Startups
I'm here for this! I have this conversation a lot these days too - "do you really need funding? Have you truly done the maths for both situations"? Thanks for sharing Jordan
Strong agree!
Most of the 2nd time founders I know (including me) that have experienced operating a VC-backed business are not going back. Shouldn't be necessary to experience it to choose the upsides of bootstrapped but first time founders unfortunately fall for the cookie-cutter or dated perceptions Jordan Schlipf
Excellent viewpoint Jordan Schlipf - wishing you all the success as you describe it with this. Hope you’re keeping well
Read the terms, read the case law, look at the numbers, and you will likely see that there is less upside for the founders going the VC route, than bootstrapped founders. Appreciate the honesty.
Shouting from the same rooftop on all of this! Build businesses that work for founders 💪🏼
Sound wisdom.
I LOVE THIS Jordan Schlipf!!! SO SO real. Especially this: "Building a unicorn is sold as ambition, but it’s often just self-delusion dressed in hustle". (And I am a huge fan of white T-shirts)
Love it
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2dThat's quite refreshing to read. Thanks for sharing, Jordan.