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Be Patient – It Can Take A Long Fucking Time

I loved Bijan Sabet’s (Spark) post today titled Patience & Persistence. In it, he talks about how OMGPOP’s new game Draw Something is blowing up after nearly four years of making some, but not a ton, of progress. He starts out strong:

“When you go to a tech meetup, tech party, or read tech headlines, it’s easy to get swept away into thinking things are soaring for a number of startups. Company xyz now has a zillion users, another company just went viral, overnight sensation, etc. It’s easy to fall in love with those headlines or worse, it’s easy to be distracted. The truth of the matter is that it hardly ever goes straight up and to the right.”

Go read the post to hear the story. This is very consistent with our view at Foundry Group that it often takes up to three years for a new company to figure out where the magic is going to be. As investors, we are very patient through those first three years, keeping the burn rate low but continuing to fund by ourselves if necessary as long as we believe in the entrepreneur. One of the reasons we love working with Bijan and his partners at Spark is because they share this point of view.

Remember – it can take a long time. Be patient. And persistent.

March 1st, 2012 by     Categories: VC Post of the Day     Tags: , , , , ,
  • http://fullcontact.com/ Bart Lorang

    Dead on.  At FullContact, the past few months at our ‘all hands on deck’ meetings the major theme I’ve been using has been ‘slogging through the schlep.’   Paul Graham wrote about it a few months ago – but ‘schlep’ is defined as a ‘tedious and unpleasant journey.’   And trust me – solving the world’s contact information problem is a really, really, really tedious and unpleasant thing.  

    It requires patience, persistence, and an insane belief that we’ll actually be able to turn all the world’s dumb address books into smart address books.  

    Thanks for the reminder – I’m going to use this headline in our next all hands.

  • http://www.facebook.com/profile.php?id=597931258 Kendall Kunz

    …and sometimes, just a rare few, they exit in less than three years!  

  • http://memberhub.com/ Matt Harrell

    I wish there were more of these types of posts for so many reasons. 

  • Victor Ronin

    And actually, there is one more variable. It’s luck.
    There is a good chance that a company which just got viral, got there by pure luck rather than some marketing genius.

  • samir.alg

    What happened to Samir.alg