This article was written by Adeo Ressi, Founder of the Founder Institute. Follow him on Twitter @AdeoRessi.
The Founder Institute is now in nearly 100 cities worldwide, and our success is growing. We are constantly tweaking and improving the process to create stronger and better graduates. There is the usual barrage of startup-related emergencies, and not everything works out as planned. But, there is excitement.
The excitement of the Institute starts in a semester. You walk into the room on the first night, and there is this inexplicable excitement and anticipation. There are old people and young people. There are men and there are women. Everyone is there to pursue a dream. Everyone's a dreamer.
Some are further along. Others don't have an idea. A few have done it before. A few are not that serious. Whatever the background of the people involved, the first few nights of a new semester are nerve-racking. You wonder how these people are going to be the leaders of great companies. It is always a humble beginning.
Read Seattle Founder Institute Mentor Dan Shapiro’s thoughts on why it pays to pay it forward and help other startups.
As you enter the second month, Founders that once made you cringe now stand in front of a room and score 4's and 5’s out of 5 by seasoned CEO's when pitching their business. They discuss their go-to market strategy. They ask about cost of customer acquisition and start caring about lifetime value.
As the Director, you ask yourself, “what is going on?” Everyone is starting to have their act together, but there are still insecurities, rookie mistakes and big oversights. Are these founders faking it? Is real progress being made? Will everyone overcome their setbacks?
It is at this midpoint that things are most worrisome. The glimmer of potential appears, but the reality of being a Founder starts to set in. It's not going to be easy. There is no silver spoon. There are no right answers, and people that you believe in go back to the security of their day job. You wonder, “what will happen?”
Then, something happens. The founders become Founders. They start to look at the world differently. When they make a mistake, it's their mistake. When they have a win, it's their win. There is no one else to blame. They speak to Mentors as peers. They become leaders.
It's amazing. I see people get up in front of a room, pitch their business and get applause from top startup CEOs. These same people would be too nervous to say anything a couple months earlier. I see people that could not explain their business in a half an hour give five word answers that provide deep insights into their market. Every time, it's amazing.
At this point in the program, you know that everyone in the room has a real shot at success. They are ready. You are proud, and the program is over. In the span of a lifetime, it was the blink of an eye. Lives are changed. Companies are formed. Potential is realized, and it is over in just four months.
There is a euphoria, relief, sadness, and frustration that follows a semester. Words don't do it justice. You are happy that it is over. You are happy with the outcome. You are surprised by the results, and you start to reflect. What could I have done better? Then, you yearn to do it again.
And what makes you yearn to do it again? Seeing the successful companies that are born from a semester. Below are just a handful of the prosperous startups that came out of previous semesters of the Silicon Valley Founder Institute:
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MovieLaLa - MovieLaLa is a redesigned social platform for movie lovers. Last year, CEO of Salesforce Marc Benioff invested in MovieLaLa, bringing the startup to $750,000 in funding.
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Retailigence - Retailigence localizes all forms of digital marketing to increase engagement, foot-traffic, and revenue for retailers and brands. In 2014, Retailigence partnered with the Gannett-owned PointRoll, the leading multi-screen digital advertising technology and services company.
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Spikes Security - Spikes is a security company that virtualizes the browser to provide corporate IT managers with a secure infrastructure. The company made major progress last fall when they raised $11 million in funding.
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Udemy - Udemy is a digital marketplace for online courses. They reached a significant milestone late last year when they enrolled their 5 millionth student.
I yearn to do it again, and, even as the Founder Institute continues to create 1 million jobs around the world, I will make the time.
It is that exciting.
