A Founder's Playbook: With Lessons Learned

So, You Want to Do a Startup?

By Bob Miller | Serial Founder |  December 2024

 

Starting a company is a lot like jumping off a cliff and building a plane on the way down. As a founder who’s been in the startup trenches—tinkering with ideas, raising capital, and learning from my fair share of glorious flops—I’ve seen it all. 

 

Helping young companies succeed isn’t about handing them a one-size-fits-all blueprint. It’s about guidance, grit, and sometimes just knowing when to laugh at the chaos.

 

Build Your Avengers Team

One of my first startups was a whirlwind. I had this brilliant idea (or so I thought), but my early hires? Let’s just say we were more like a collection of mismatched puzzle pieces than a cohesive team. One engineer couldn’t communicate without using memes, while my marketing lead thought “TikTok” was a clock repair app. 

 

Lesson learned: Find people who get it—who share your vision, bring diverse perspectives, and complement your weaknesses. A strong team can turn a “meh” idea into magic.

 

Find Your Target Audience—Not Your Mom

When I first pitched an idea to my mom, she told me it was "the best thing since sliced bread." Flattering, but not helpful. Validation isn’t about hearing “great job” from family; it’s about real customers saying, “Shut up and take my money.” Take time to truly understand your audience. Talk to them. Listen. Your mom can cheer from the sidelines.

 

Competition: The Frenemy You Need

I once dismissed a competitor, thinking, “Pfft, we’re way better than that.” Turns out, they were quietly eating our lunch while we were busy patting ourselves on the back. Lesson? Respect your competition. Study them like a detective. What are they doing right? What are their blind spots? Your goal isn’t to mimic them—it’s to do what they can’t or won’t.

 

Be Different, Not Just Better

In one of my startups, we poured time and money into making a slightly better version of an existing product. Guess what? No one cared. Being “better” isn’t enough. Customers need a reason to switch. Create something that makes them say, “Why didn’t this exist before?” If you’re not different, you’re invisible.

 

Dream Big, Build for Scale

Scaling is a lot like cooking for a crowd. Sure, you can wing it when it’s just you and a buddy, but try feeding 50 people without a plan. In one company, we underestimated how quickly demand would grow, and our servers crashed on launch day. Oops. Build your systems and processes with growth in mind—it’s easier to prepare for a crowd than scramble mid-dinner party.

 

Pricing: The Art of Not Undervaluing Yourself

One of the hardest decisions I ever made was raising prices. I was terrified we’d scare off customers, but you know what happened? Nothing. People kept buying because we were delivering value. Pricing is a balance—you need to be competitive, sure, but don’t sell yourself short. If you believe in your product, charge like it.

 

Your Go-to-Market Strategy: A Map, Not a Maze

I once launched a product thinking, “If we build it, they will come.” Spoiler alert: They didn’t. A great go-to-market strategy isn’t just throwing ads into the void—it’s about understanding where your customers hang out and how to speak their language. Don’t make them hunt for you. Show up where they already are.

 

Make Your Financial Model Your Best Friend

If I had a nickel for every time I underestimated costs in a startup, I’d probably have enough to fund my next one. A good financial model is your crystal ball—it won’t predict everything, but it’ll help you spot trouble before it becomes a disaster. Know your numbers like your favorite song lyrics.

 

Find the Right Investors (a.k.a. Not Just the Ones With Money)

Raising capital is like dating—you don’t just need someone who’s interested; you need someone who’s right. In one funding round, we brought on an investor who, let’s just say, was more “sharks” than “dragons.” It was a painful reminder that alignment matters. Look for partners who believe in your vision and can bring more than just cash to the table.

 

Keep Your Eyes on the Value

One of my favorite moments in any startup is hearing from a customer who says, “This changed my life.” That’s what it’s all about: creating value. Whether it’s solving a problem, saving time, or just making someone smile, your startup’s success hinges on the value you deliver. Focus there, and the rest will follow.

 

Laugh Through the Chaos

Startups are messy. Things will break. Plans will flop. People will quit. One time, our “big launch event” accidentally double-booked with a local pet adoption fair, and I spent the day pitching our product alongside barking dogs and free kittens. Did it go as planned? Nope. Did I laugh about it later? Absolutely.

 

Final Thoughts

At Onsha Labs, we’ve been fortunate to help launch 24 companies and raise over $150 million in funding. But what we’ve learned above all is that success isn’t about avoiding mistakes—it’s about learning from them. It’s about persistence, creativity, and knowing when to pivot (and when to laugh).

 

So here’s my advice: Don’t wait for the perfect plan. Start messy. Dream big. Build bigger. And never forget to enjoy the ride—bumps, barking dogs, and all.