What Makes The Top 10% Of Founders Different? - Michael Seibel
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- Опубликовано: 15 май 2024
- Y Combinator CEO and Partner Michael Seibel on what makes the top 10% of founders different.
/ mwseibel
Topics
00:00 - What Makes The Top 10% Of Founders Different?
00:35 - Great founders execute
1:22 - Formidability
2:09 - Clear communication
3:40 - Internal motivation
4:52 - Note that "idea" is not on this list 
Наука
00:00 - What Makes The Top 10% Of Founders Different?
00:35 - Great founders execute
1:22 - Formidability
2:09 - Clear communication
3:40 - Internal motivation
4:52 - Note that "idea" is not on this list
Do you have a video about product execution?
This is basically betting on best human "horse" in an unknown race
Under 200 comments yet over 1 million views. *tosses a comment to the algorithm* Hope this reached someone!
To every other founder out there watching this video and chasing their dreams. Cheers!
Cheers!
All the best everybody!
Cheers!
Gracias
Cheers william!
1. Execute - Consistent ability to say what you are going to do, do it and learn from it. Never get stuck in the execution step.
2. Formidable - demand respect because you always execute
3. Clear Communication/Vision - articulate what they are working on to anyone
4. Internal Motivation - that they don't get too discouraged when things go wrong and stay motivated
Thank you, Amit Shah! Thank you a lot!!
Haha
Yeah the resemblance is uncanny
Lol
Who is amit shah here...???
😊😊😊
Everything I heard Micheal Seibel, Y Combinator say and applied in my business from last year has worked. Not even 1 has failed.
Michael Seibel never fails to deliver great and reliable advices.
Makes him pretty formidable
everybody fails
I'm gonna try to grade myself based on this video :
1- Execution : 8/10
2- Explaining what I do in 1 sentence: 5/10
3- Internal motivation: 10/10... Boy I've been failing for 4 years S.T.R.A.I.G.H.T my life is falling down because of my business, and I'm still going like I'm gonna make it tomorrow... Although, the business is finally paying off now after finding the product-market fit.
Good luck to everyone!
awesome
Keep going.
Nice!
Update 8 months later : business is going well, I have 7 people working with me part time on different things and I’m able to pay for everyone with $5-8K/month revenue. ( started making that much since August, it’s December now )
When I wrote this comment I was at 200 to 500$/month :)
Key lesson, build something that almost surely pays off in the future :D
In the past 4 years I only looked for short term solutions.
Hopefully someone will comment here again in an other 10 months, I’d love to keep documenting here 😂
@@adhdoers8814 So inspired to read that! Well Done!! I hope to read from you in a few months!! Just out of curiosity, which market are you in? Enjoy the holidays 🎄 and keep going next year! Greetings from Belgium 🇧🇪
Spoiler:
1. Ability to execute
2. Formidable
3. Ability to clearly communicate what they working on
Bonus: Internal motivation
This is very timely for me. Thank you for sharing this super useful synthesis Michael Seibel.
This is one of the most important videos on RUclips. Simple, but powerful.
Michael, thanks for the great feedback to the startup community. 1. Execute, 2. Formidability, 3. Communication, 4. Motivation.
I have all except good communication. That is my weakness.
Very clear thinking, explanation and insight. Thank you. On the execution one, I think there is a complication: one's judgment about the task you are saying you will do. It leaves me wondering about a follow-up question on this: how do these founders judge and then commit to these things? Egs: are they superior in judging their priorities, or more realistic in balancing 'can-do' tendencies, or are there other judgment qualities that you can point to? Or am I over-thinking this LOL?
I am reminded of something Guy Kawasaki once said about the difference beteen corporate executives and entrepreneurs (I come from 20+ years corporate background, so I've struggled with the transition). He said if you give a new project to people, the execs will start formulating strategies and making plans. The entrepreneurs will think, what do I need to do next to move things forwards. And then they'll do that (and as you said, learn from it). Does this mindset difference between execs and entrepreneurs correlate in any way with the difference between the top 10% of founders and "the rest" in your experience? It's certainly something I'm still working on (and hopefully not thinking too much!)
Thanks a lot! Integrating this to my self-evaluation as top priority👍Need to improve on the communication part. Doing pitch exercises daily now, and talk to more people to practice the pitch and get feedback.
Great insight - I would add these qualities are found in the top 10% of employees too
Agreed!
True
Still great info. So glad Y Combinator YT channel exists. Wish I found this sooner.
A kind and humble assessment of key qualities. Thanks for sharing Michael.
Wow follow-through and execution are so important.
Thank you - being in a completely different industry, can confirm that these suggestions still stand
Man, I watch every one of these.
One thing I would love to hear, is "why" from the Y comb leadership team. Running a business is a lot of work, and I'd love to know why they're doing this. Successful business owners always have amazing answers to this question.
Thank you very much Michael. Great on YC.
Been binging so many of YC’s videos honestly amazing this amount value is available for free!
same here! im so grateful that i can get such valuable advice for free.
This is highly inspiring! Thank you for these messages! 💪💪💪
Thank you YC for providing me the blue print to doing the startup correctly, SUS2019 was very helpful.
From this video I see my problem is Communication. That I'll work on more and more now. Thanks
Another great video! I will work hard to be in those top 10% founders.Thanks!
This video was very encouraging! Thanks Michael!
Well stated and explained! Simply fantastic!
This is excellent Michael, thank you
Thank you so much! I got to work on point 1 and 2. 😦
Great points Michael. I personally definitely struggle with execution/iterate too much. I know for that matter that I’m definitely not gonna make day to day operation decisions, but rather lead the marketing efforts to the outside. Communication and esp. trust is my strength, which is crucial in our business.
If you have the drive, execution, formidability, communication and passion will follow, I think. So Drive with clarity can be the key.
wow amazing content. Thank you so much for sharing this I have learned a lot.
Thanks for the insight.
Thankyou Amit Shah , very informative
All your videos are gold
Michael,
I’d love your take on how transparent founders should be. Admitting we made a mistake and learning from it is how we improve, but can it backfire and make us come across as negative or unconfident?
Thanks for this
Top 4 Skills for a TOP FOUNDER
REC.F
Relentless - Does not get deterred by mistakes or failures, not easily dissuaded
Execution - will complete their goals in some way and learn from it
Communication - Can communication what something is or they want to do concisely
Formidability - Continuously gets things done and is respected by others for it (gets it for free when you have Execution)
This guy is absolutely great.
Completely agree with you about "idea", want to reference a Chinese story "The Little Horse Crosses the River" for that, the idea is strongly tied to capability.
🙏🏽 Thank you so much
Thanks Michael
Seeming Formidable is a by-product of consistency & perseverance. Maybe those would be the qualities :)
Great video!
Preciate it💪🏽
Thank you so much. I am weak at first three quality. Does that mean i will fail? I am highly motivated. Is there anyway, tips to improve myself?
Thank you
Excellent advice.
Thanks Amit 👍🏼👍🏼
That shirt looks f*cking comfortable. Nice fabric, sweet cut, great color.
Thanks!
Great vid
Great content but can we talk about those arms? That looks to be some strongman/powerlifter level beef right there.
thanks a lot
I've never heard of 3 ideas turning into 6 so quickly XD
Context comes from making mistakes.
Once you develop that context, that's when you'll start making decisions that end up being the right ones.
Just my two cents.
Jason Cheung well said, buddy
Thanks, appreciate the kind words!
I love the idea of explaining your business idea at the:
* 5 year old level
* grade school level
* high school
* college
* masters
* PhD
It'd make a decent video tbh following the existing format you can RUclips
Clarity, knowing why you do this start up, and why now? Why you are the one, and what is the business model, who will buy it. Clarity is important.
I’ll be there.
So it's just two things. Formidability is derived from an ability to execute. So if you have the ability to execute, then formidability follows from it.
0. Have enough money to get the required b traction for raising your first round for your Startup around your idea. Money. Helps. A. Lot.
Pretty cool!
Can someone execute consistently and not be perceived as formidable?
What’s your tip on nailing your business 1 liner?
How can I get funding from y combinator for my start up please let me know...I'm here sitting at my home n have done to some extent a great level of thinking n reached a solution for a problem ..
Communications!
Industriousness + Presicion in Communication
Make Something People Want.
Make People Want Something.
I need to work on my communication
I'm infatuated with this. I had the pleasure of reading something similar, and I was completely infatuated. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
I have only 1 question. I appreciate if you take only 1 minute and answer.
1. I have a an idea of decade. And I don't have MVP. For developing MVP make take minimum 6 months.
Do Y COMBINATOR FUND FOR IDEA? OR WE SHOULD HAVE MVP?
LET ME IN!
One thing that nobody seems to talk about when it comes to starting a company is the personality of the founders.
We still seem to skip over the fact that some people might not be able to successfully start a company due to certain personality traits or mental illnesses or life hurdles.
For example, I have attempted to start many companies. And every time what gets in my way is what is being talked about in this video. But, it’s not because I’m lazy or that I give up too soon and don’t execute. The reason is, I suffer from social anxiety. So for me to network, execute, and continue forward is severely hindered by my inability to make partnerships or friendships with others.
Any thoughts on this Y Combinator?????
Well Said.
surya316 thanks
It sounds like you're making an excuse. If you're gonna quit, just quit
Talk to your GP (general practitioner) and get a referral for a trained mental health practitioner. Talk to your GP and your trained mental health practitioner about exposure therapy in a controlled setting. Maybe you can look into creating a VR app that solves the pain that you (and others) feel?
Overall, I'd encourage you to talk to a trained mental health practitioner consistently over a longer duration. Find a good therapist and stick with therapy. It may take a couple of years for Positive neuroplasticity to show results. But you will hit breakthroughs during this duration and you may notice the changes.
I'd also change the story and try different strategies. This is from Tony Robbins and it's a highly effective method. You can turn the dial to what you are comfortable with.
Feel free to ping me if you found this to be useful.
Please note: This above is not medical advice.
Nathan Bendich sounds like you are insensitive and don’t understand the nature of anxiety......
Completely agree with executability. That is what I admire most about my co-founder (he gets $*1+ done).
But acceptance rate of startups at YC is just 1.5 percent!
👏
Internal motivation… you mean perseverance and determination? 🤨
Amit shah?
😂😂😂😂😂same thoughts
I was searching for this comment xD
Know how to use social media to sell your company also?
Ya, like Y combinators have an amazing track record (eye roll). They don't. Period.
Young Amit Shah!!
“I returned, and saw under the sun, that the race is not to the swift, not the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.
FROM THE WISEST MAN THE EARTH HAS EVER BEHELD!
(net worth: $2 trillion)
Just to elaborate on the saying above,
In the days of Mark Zuckerberg, is it that there weren't experienced tech founders who were Perfect executors and communicators having all the best traits to create FB?
If Mark happened to be residing in a different dormitory or maybe schooling somewhere else like MIT, would he still be the founder of FB?
👍🏽 👍🏽
Amit shah joined YC
Are amit shah ji ye kis line Mai agaye
man if i were in your shoes for 6 months i could change the world.
I don't know why people hash on the idea so much. Have fun executing a bad idea. There are lots of them.
And TBH some business are 75 percent idea 25 percent execution.... other companies the other way around. If your business is real estate investing anyone can make a purchase - the idea is the hard part... with other businesses it is the other way around.
Notes: medium.com/tech-product-and-life/what-makes-the-top-10-of-founders-different-michael-siebel-from-yc-cff844efdb5f
YC get better Biotech reviewers who actually know their stuff please!
He looks like amit shah
Top 10% founder is still gonna fail right? A better question is what differentiates the 0.1% founders?
Amit Shah😃🤣
By this standard Elon Musk is a bad founder since he fails to execute in time and takes longer than expected to execute.
Given limited resources, a person who always want to execute within ambitious time would choose something easy and never explore.
Explore (something that may work) vs exploit (something that is very likely to work) tradeoff are basic problem all companies face. An executing founder would avoid exploring much since it is ripe with chances of failure to deliver. This would lead to different kind of startup.
Instead of rate of delivering, its the rate and speed of learning that in my view most defines a would be successful startup.
A person who always deliver in 2 weeks seems like doing nothing ambitious or complex. This person is less likely to learn something important. There are many business problems that are good with this approach but many are not.
Elon is an amazing founder, of course is obvious he is bad for forecast; however, their companies always deliver what he promised, and we know he always miss the date he said.
I feel Michael said that is more related to deliver at least some interaction independent of the field (Explore vs exploit).
Is really hard to measure how good you learn, but one good measure is customer satisfaction and product/service traction.
You got a point. Executing fast for simple stuff is easy but some execution needs it own time and it needs to marinate a little bit.
Shishir Chandra the last statement is simply not true. If you spend one week thinking hard about a deep problem, and have the right team to execute fast, a two-week sprint can produce amazing results.
Álvaro Ybáñez could you give example of where you did this ?
My view is, either you are trying to figure out things and hence moving slow (in terms of business outcomes), or you have figured out things and are basically executing on a well thought plan, hence moving fast.
Early on you are likely to try something and realise that business observable outcome did not materialize, instead you have a lesson learnt. Maybe you learnt a business lesson, maybe something about user or maybe about technology or user experience. In any case, your optimistic estimate for a business observable outcome would be often wrong early on. Later you would become better and better at the domain, tech, users, ux etc.
What i am trying to say is that the advice of hitting all estimate targets sound more like enterprise project manager work rather than an entrepreneur work.
I don't see his forecast as a problem. He might miss some crazy deadlines he put out there but he has always hit them sooner or later. It's easy to see it from others perspective but most of us have no idea what is it like to run a billion-dollar corporation. But we all do miss our deadlines from time to time. There are things outside your control that can easily delay your progress. But what matters is if you have done it. Which Elon always did.
“Intimidating, but not in a bad way.” Haha. Gross. Thank God I don’t live in some pretend universe where intimidation isn’t something I strive to bring to the world.
Easy see you in 2025.
Luck
Basically no INTPs ALLOWED!
seriously? if this is the level of YC now,,,I am disappointed. This is like the basic of the basic, if you cannot do this you should be working for someone and not running a start up.....I'm bit shocked to be honest. By the way, my tips is that the best founders are the ones who know the right timing and can execute the fastest :)
Thanks, Ken M. That's exactly what he's trying to say in the video
Your comment is not polite.
Not politely said but I know what you mean, but it’s important information for people starting up! A great founder would do what they do the best, and everyone is different! Here they are talking more from their incubator experience..you can be someone thinkering on your idea and working on your product quietly for years, learning and researching, building audience, building a team and then “officially startup”, hopefully if you have gotten that far, then it’ll be about growing, pitching, convincing, rejection, protection etc. it then becomes more of a chess game to make it happen on a scale and as quick to be considered a startup ..but you keep doing what you love to do and that is..
A great founder is always focused on why they started, that is their purpose & passion, and that would just make you do all that they are talking about here..it’s all from within, that which without you are not a great founder to begin with because you where init for wrong reasons.
So how do you know the right timing in the real world and not in your mind (by executing to see if the time is right)
How can you execute fast? (of course by executing your goals always and effective communication with everyone)
Again how can you know our make the timing of your product right? (By good communication with all parties involved, and staying motivated until the time is right)
So essentially you just agreed with Michael.
@@samuelpeace5844 The best way to know the timing is to first understand that you can not crate the wave. You need to try to ride the wave just like surfing. So how do you find the wave? First you need to see whats coming next in terms of Technology and Government sector. tech x gov = people movement. Then you can find what people are getting into or changing. This is the key to find the right timing to get in the market. Sometimes its too early or late,, thats why its difficult but to execute fast, you need to be always looking for this sign. then once you decide just do it and talk about it to everyone you know, make a name card and start pitching. then, if u are lucky, you will meet a potential client who might be interested in your idea.
It's all my worst nightmare. I always have ideas and rarely feel like slaving away on them alone