_edited.jpg)
Starting a company is like running a marathon. You need to keep moving forward, step by step, without losing momentum. Sam Altman, a successful entrepreneur and investor, shares his insights on why maintaining momentum is crucial for startups and how losing it can be a costly mistake.
Photo: Chen Galili
The Importance of Momentum
One of the biggest mistakes founders make is losing short-term momentum.
"If you lose in short-term momentum, if there's a period of time where the company gets distracted or makes a wrong bet, it's very hard to recover from"
Momentum is the lifeblood of a startup. It keeps the team motivated, the investors interested, and the customers engaged.
The High Cost of Losing Momentum
Many founders don't realize how expensive it is to lose momentum until it happens.
"Most founders, until they've done that once, don't understand how expensive a mistake that is," Altman explains.
Losing momentum can set the company back significantly, making it challenging to catch up and regain lost ground.
How to Regain Momentum
If your startup does lose momentum, Altman advises against relying on motivational speeches to fix it. Instead, focus on getting small wins, one at a time.
"The way you fix it is not what most people want to do, which is give motivational speeches. It's just like get any win one at a time," he emphasizes.
Each small victory helps rebuild confidence and propels the company forward.
Act Quickly
Timing is critical when it comes to regaining momentum.
"If you do lose momentum, you have to like do this all-out effort to fix it," Altman advises.
Swift action is essential to prevent the loss of momentum from becoming a permanent setback. The longer you wait, the harder it becomes to turn things around.
Conclusion
Maintaining momentum is crucial for the success of any startup. Sam Altman's advice highlights the importance of keeping your company moving forward and the high cost of losing momentum. If your startup does lose momentum, act quickly and focus on achieving small wins to get back on track. Remember, in the startup world, every step counts. Keep moving, stay focused, and you'll be on your way to success.
Listen to Sam Altman:
Comments