<p>How long does it take to read Dear Founder?</p>

<p>The reading time for Dear Founder varies depending on the reader's speed. However, the Blinkist summary can be read in just 15 minutes.</p>

Entrepreneurship

Dear Founder Book Summary - Dear Founder Book explained in key points

Listen to the Intro

00:00

Dear Founder summary

Name: Dear Founder
Rating: 4 (68 reviews)
Author: Maynard Webb and Carlye Adler

Maynard Webb Carlye Adler

Letters of Advice for Anyone Who Leads, Manages, or Wants to Start a Business

4 (68 ratings)

23 mins

Brief summary

Dear Founder by Maynard Webb and Carlye Adler is a guide for entrepreneurs with lessons from successful founders. It offers advice on fundraising, hiring, and leading teams, with emphasis on communication and self-awareness to build successful companies.

Topics

Start-Ups

Table of Contents

Dear Founder
Summary of 8 key ideas

Audio & text in the Blinkist app

Key idea 1 of 8

What’s in it for me? Simple startup strategies that work.

The world has become smaller and more connected. Doing business across borders is simpler than ever before, and the internet provides everyone with easy access to the tools they need to go it alone as a solo entrepreneur. In short, it’s a golden age for startups. But most young companies still fall at the first hurdle. So what’s going on?

Well, here’s the thing: even if you have the greatest idea in the world, you’ll still go bust if you’re not applying a couple of basic business rules. In the end, it’s the simplest – and most common – pitfalls that snuff out so many startups. That means it’s not a bad idea to make like a greenhorn and seek the advice of a grizzled veteran or two when you first arrive on the frontlines. And that’s exactly who you’ll be meeting in these blinks: savvy business minds who’ve seen it all and know the startup scene like the back of their own hands.

However, their essential field manual for founders isn’t just a survival guide. Start putting their tips into practice, and you’ll be well on your way to thriving in one of the most exciting industries in existence.

In these blinks, you’ll learn

why you should seek out investors who bring more to the table than just cash;
how to kick the micromanaging habit; and
why hiring people is like giving away Super Bowl tickets.

Ponder some key questions and make sure you’re fully committed before launching a startup.

If you’re reading these blinks, chances are you’re thinking of going it alone and starting your own business – but have you asked yourself, why? Is it because it’s the thing to do these days, or are you just in it for a quick buck? If you’re not sure, it’s time to ponder some key questions and a couple of sobering facts!

First things first: a lot of startups fail. That’s statistically proven, but it also makes intuitive sense. After all, there’s only so much money, attention and support to go around. A couple of startups enjoy meteoric success – just think of Google or Facebook – while the rest fight for crumbs.

That’s not supposed to deter you, but it is important that you keep it in mind. If you’re going to make it, you’ll need to be extremely hardworking and make smart decisions. Still game? Great, now’s the time to answer that all-important question and clarify your aims. Whether you want to make a ton of cash or change the world, having a clear idea of your goal will see you through tough times.

You’ll also want to make sure you’re firmly committed to your project before jumping in. Remember, adversity is virtually guaranteed. Success is all about sticking to your guns, even when the situation looks all but hopeless. That said, you should put a couple of numbers to that commitment so that you know when to hit the eject button.

You might, for example, say that you’re willing to put $200,000 of your own cash into your startup and that you’re going to stick it out for a year. If you realize there’s little to no chance of your making it after 12 months, it’s probably a good idea to quit before you end up throwing good money after the bad.

And here’s the final thing you’ll need to keep in mind: although you’ll be dependant on your own resources, you’re much more likely to come out on top if you have the support of others. That’s why it’s so important to make sure your friends and family are on board with your project and understand the risks. Your life is going to be hectic, unpredictable and full of long shifts – you don’t want that to cause grief in your relationships!

Successful fundraising depends on contacts, as well as good planning and listening skills.

Fundraising is vital, but it’s a hard slog. At times, it’ll seem pointless and leave you feeling like Don Quixote – the mad Spanish knight who charges down windmills he’s mistaken for giants in Cervantes’ eponymous novel. But here’s the thing: if you’re struggling to make headway, it might just be because you’ve forgotten a couple of basic fundraising rules.

The key to raising money is finding the right contacts. That means you need to be discerning when it comes to putting together a list of potential investors. So what does that look like in practice? Well, a good start is to make sure you’re targeting people who know your industry. If you’re launching a pharmaceutical product, for example, you don’t want to be calling investors who specialize in the music industry.

Micromanagement is stressful and – ultimately – counterproductive.

As an entrepreneur, it’s natural that you’re protective about your business – after all, it’s your baby. That’s sometimes a problem, though; like an overprotective parent, the urge to micromanage every little detail can be irresistible. But that’s ultimately counterproductive. Running everything yourself won’t just stress you out – it might even kill your beloved company.

Luckily, there are plenty of simple tools you can use to increase your employees’ efficiency without constantly hovering over them. The key is to create a company culture that encourages excellence. That’s all about communicating your goals clearly and motivating people to accomplish them by rewarding achievement. And remember to be generous; if your team completes 80 percent of what it set out to do, chalk it up as a triumph.

Delegating tasks effectively isn’t easy, but the RACI model can be a great help.

Webb knows all about how hard delegating tasks can be. Take the case of one his managers. He was getting great operational results from his team, and the sales figures looked great – but the people under him were constantly criticizing his tendency to micromanage employees. The manager was exhausted, and the team was frustrated by its members’ lack of autonomy.

In the end, the manager decided to stop micromanaging. When the author later asked him how his project was doing, he told him that he didn’t know. He’d delegated the task to his team and washed his hands of the matter. Needless to say, that isn’t exactly a shining example of great delegation!

Effective startups take their time when hiring employees and move swiftly when firing bad apples.

When Webb was interviewed for his first job, a position at IBM, he was asked how he’d feel about firing someone. Webb replied that he reckoned he’d be able to do it but couldn’t imagine it ever being necessary. The interviewer laughed out loud. Webb would soon understand why.

There’s no getting around it: some people just aren’t cut out for their jobs. Ask the average manager how many employees he’d hire again after having seen them in action for a couple of years, and he’ll likely tell you that 80 percent of his calls were correct. That leaves the 20 percent: serial underperformers you’d be better off replacing.

Reminding yourself that nothing lasts forever is the best way to overcome stressful situations.

Stress lurks around every corner when you’re an entrepreneur. Take it from Webb. He remembers getting up one morning at 5:00 a.m. because he had a two-hour drive ahead of him to get to an 8:00 a.m. meeting in San Francisco. Before heading out, he sat down to quickly shoot off a couple of emails.

When he fired up his laptop, however, disaster struck: he couldn’t log in to his account, even though he was using the correct password. Reloading the page didn’t help, either. To top it all off, Webb had a nasty bout of the flu and was feeling awful. It was the worst possible start to an already pretty intense day.

New kids on the block make fundraising tougher, but competition can also keep you on your toes.

A couple of years back, Yahoo began developing a flight search tool called Hipmunk. The project looked set to become a success until Google dropped a bombshell: it was working on its own competing service. It was a blow for Yahoo. No wonder: competition, especially from a giant like Google, always makes fundraising a lot tougher.

But that kind of challenge doesn’t just frighten managers and employees; it also tends to scare investors. In fact, it’s usually when they ask you if you’re worried that you know you’d better start worrying! So what can you do when a rival moves onto your turf?

The best reaction to a crisis is to make sure it’s real and then act swiftly to defuse it.

Imagine a bomb scare on a subway system. The authorities have to react, but they also need to make sure they’re reacting in the right way. In other words, the best thing they can do is make sure they’ve assessed the situation correctly. That’s also true in business.

If you find yourself in a crisis, the most important step is analytical: determining whether the crisis is real and, if it is, finding out just how bad it is. To do that, you have to make use of a key managerial skill: listening. After all, it’s usually your employees who’ll first notice something’s wrong. If you want to anticipate issues, you’d better keep your ear close to the ground!

Want to see all full key ideas from Dear Founder?

Key ideas in Dear Founder

More knowledge in less time

Read or listen

Get the key ideas from nonfiction bestsellers in minutes, not hours.

Find your next read

Get book lists curated by experts and personalized recommendations.

Shortcasts ^New

We’ve teamed up with podcast creators to bring you key insights from podcasts.

What is Dear Founder about?

Dear Founder (2018) is a comprehensive introduction to the basics of setting yourself up in business and founding a kick-ass startup. Packed full of handy tips and actionable advice from seasoned industry pros, these blinks will prepare you to both preempt and overcome everyday obstacles on your way to the top.

Dear Founder Review

Dear Founder (2018) explores the journey of building successful startups and offers valuable advice for aspiring entrepreneurs. Here's why this book is worth reading:

It provides practical lessons and insights from experienced founders, helping readers navigate the challenges of building and scaling a company.
Real-life stories and case studies offer a glimpse into the highs, lows, and pivotal moments of successful startups, making the book relatable and engaging.
The book offers guidance on leadership, hiring, and culture-building, providing actionable strategies for creating a thriving and impactful company.

Best quote from Dear Founder

Once committed, dont look back and wonder; put all of your energy into making this successful.

—Maynard Webb and Carlye Adler

Who should read Dear Founder?

Entrepreneurs
Leaders
Mentors and coaches

About the Author

Maynard Webb is an investor, the former COO of eBay and Chairman of the Board of Directors at Yahoo. He specializes in supporting promising startups, and also has his own startup, Everwise, which mentors entrepreneurs.

Carlye Adler is a prize-winning journalist who has co-authored numerous books, including the New York Times bestsellers Meditation For Fidgety Skeptics (2017) and Startup Land (2014). She is also a regular contributor to magazines such as Business Week and Forbes.

Categories with Dear Founder

Entrepreneurship Management & Leadership

Book summaries like Dear Founder

21 Days to a Big Idea

Bryan Mattimore

Creating Breakthrough Business Concepts

15 min

4.2

How to Start a Start-up

ThinkApps

The Silicon Valley Playbook for Entrepreneurs

Rewilding the Land, Sea and Human Life

24 min

4.1

Startup Seed Funding for the Rest of Us

Mike Belsito

How to Raise $1 Million for Your Startup – Even Outside of Silicon Valley

22 min

4.6

Ideas Are Your Only Currency

Rod Judkins

100 creative projects to open your mind & inspire great ideas

Stories of Startups’ Early Days

22 min

4.2

The Five Dysfunctions of a Team

Communicate with Confidence, Influence and Authority

Own Your Morning. Elevate Your Life.

One small step toward understanding the greatness of the universe

The Hidden Driver of Excellence

Build a Multimillion Dollar Startup Without Venture Capital

How to Keep Your Cool in Tough Situations

How One Becomes What One is

22 min

A Random Walk Down Wall Street

Burton G. Malkiel

The Time-Tested Strategy for Successful Investing

5 min

3.9

ReWork

Jason Fried and David Heinemeier Hansson

Unorthodox advice for growing companies

19 min

4.5

The ChatGPT Millionaire

Neil Dagger

Making Money Online Has Never Been this EASY

Underdogs, Misfits, and the Art of Battling Giants

20 min

4.2

Testing Business Ideas

David J. Bland and Alexander Osterwalder

A Field Guide for Rapid Experimentation

24 min

4.4

The Introvert’s Edge to Networking

Matthew Pollard

Work the Room and Social Media. Develop Powerful Connections

14 min

3.9

Never Split the Difference

Chris Voss and Tahl Raz

Negotiating As If Your Life Depended On It

How Constant Innovation Creates Radically Successful Businesses

The Science and Art of Longevity

20 min

4.3

13 Things Mentally Strong People Don't Do

Amy Morin

Take Back Your Power, Embrace Change, Face Your Fears and Train Your Brain for Happiness and Success

40 min

4.6

Clashing over Commerce

Douglas A. Irwin

A History of US Trade Policy

17 min

4.4

Invention and Innovation

Vaclav Smil

A Brief History of Hype and Failure

21 min

4.4

The Curious History of Dating

Nichi Hodgson

From Jane Austen to Tinder

Living and Working with AI

The Secret History of China's Most Powerful Company

Machiavelli’s classic text on leadership and politics

The New Psychology of Success

15 min

4.4

The Founder’s Dilemmas

Noam Wasserman

Anticipating and Avoiding the Pitfalls that Can Sink a Start-Up

The secrets of 40 millionaires' wealth, revealed

Harnessing AI to Make Faster, Smarter Decisions

19 min

Make Your Bed

William H. McRaven

Little Things That Can Change Your Life… And Maybe The World

11 min

4.0

Think Like a Rocket Scientist

Ozan Varol

Simple Strategies You Can Use to Make Giant Leaps in Work and Life

Choosing a Focused Life in a Noisy World

How to Start Conversations that Get Results

15 min

4.1

The Idea Is the Easy Part

Brian Dovey

Myths and Realities of the Startup World

18 min

4.1

Continuous Discovery Habits

Teresa Torres

Discover Products that Create Customer Value and Business Value

Overcoming Depression and Sadness with Metacognitive Therapy

Getting Up to Speed Quickly in Today’s Ever-Changing Sales World

17 min

3.7

The Art of Talking with Children

Rebecca Rolland

Nurturing Kindness, Creativity, and Confidence in Kids

26 min

4.2

Walmart

Natalie Berg and Bryan Roberts

Key Insights and Practical Lessons from the World's Largest Retailer

A Guide to Overcoming Fear and Self-Doubt

My Adventures as the World’s Most Wanted Hacker

22 min

4.4

The Resilient Founder

Mahendra Ramsinghani

Lessons in Endurance from Startup Entrepreneurs

Why It Pays to Break the Rules at Work and in Life

How to Start a Business When You Haven't Got Time to Waste

The Unconventional Path to Breakthrough Ideas

18 min

4.0

People ❤️ Blinkist

Sven O.

It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.

Thi Viet Quynh N.

Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.

Jonathan A.

Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.

Renee D.

Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.