Sitemaps
Assume Everyone Will Leave in Year One
Stop Listening to Investors
Was Mortgaging My Life Worth it?
What's My Startup Worth in an Acquisition?
When Our Ambition is Our Enemy
Are Startups in a "Silent Recession"?
The 5 Types of Startup Funding
What Is Startup Funding?
Do Founders Deserve Their Profit?
Michelle Glauser on Diversity and Inclusion
The Utter STUPIDITY of "Risking it All"
Committees Are Where Progress Goes to Die
More Money (Really Means) More Problems
Why Most Founders Don't Get Rich
Investors will be Obsolete
Why is a Founder so Hard to Replace?
We Can't Grow by Saying "No"
Do People Really Want Me to Succeed?
Is the Problem the Player or the Coach?
Will Investors Bail Me Out?
The Value of Actually Getting Paid
Why do Founders Suck at Asking for Help?
Wait a Minute before Giving Away Equity
You Only Think You Work Hard
SMALL is the New Big — Embracing Efficiency in the Age of AI
The 9 Best Growth Agencies for Startups
This is BOOTSTRAPPED — 3 Strategies to Build Your Startup Without Funding
Never Share Your Net Worth
A Steady Hand in the Middle of the Storm
Risk it All vs Steady Paycheck
How About a Startup that Just Makes Money?
How to Recruit a Rockstar Advisor
Why Having Zero Experience is a Huge Asset
My Competitor Got Funded — Am I Screwed?
The Hidden Treasure of Failed Startups
If It Makes Money, It Makes Sense
Why do VCs Keep Giving Failed Founders Money?
$10K Per Month isn't Just Revenue — It's Life Support
The Ridiculous Spectrum of Investor Feedback
Startup CEOs Aren't Really CEOs
Series A, B, C, D, and E Funding: How It Works
Best Pitch Decks Ever: The Most Successful Fundraising Pitches You Need to Know
When to Raise Funds
Why Aren't Investors Responding to Me?
Should I Regret Not Raising Capital?
Unemployment Cases — Why I LOOOOOVE To Win Them So Much.
How Much to Pay Yourself
Heat-Seeking Missile: WePay’s Journey to Product-Market Fit — Interview with Rich Aberman, Co-Founder of Wepay
The R&D technique for startups: Rip off & Duplicate
Why Some Startups Win.
Chapter #1: First Steps To Validate Your Business Idea
Product Users, Not Ideas, Will Determine Your Startup’s Fate
Drop Your Free Tier
Your Advisors Are Probably Wrong
Growth Isn't Always Good
How to Shut Down Gracefully
How Does My Startup Get Acquired?
Can Entrepreneurship Be Taught?
How to Pick the Wrong Co-Founder
Staying Small While Going Big
Investors are NOT on Our Side of the Table
Who am I Really Competing Against?
Why Can't Founders Replace Themselves?
Actually, We Have Plenty of Time
Quitting vs Letting Go
How Startups Actually Get Bought
What if I'm Building the Wrong Product?
Are Founders Driven by Fear or Greed?
Why I'm Either Working or Feeling Guilty
Startup Financial Assumptions
Why Every Kid Should be a Startup Founder
We Only Have to be Right Once
If a Startup Sinks, Founders Go Down With it
Founder Success: We Need a Strict Definition of Personal Success
Is Quiet Quitting a Problem at Startup Companies?
Founder Exits are Hard Work and Good Fortune, Not "Good Luck"
Finalizing Startup Projections
All Founders are Beloved In Good Times
Our Startup Culture of Entitlement
The Bullshit Case for Raising Capital
How do We Manage Our Founder Flaws?
What If my plan for retirement is "never retire"?
Startup Failure is just One Chapter in Founder Life
6 Similarities between Startup Founders and Pro Athletes
All Founders Make Bad Decisions — and That's OK
Startup Board Negotiations: How do I tell the board I need a new deal?
Founder Sacrifice — At What Point Have I Gone Too Far?
Youth Entrepreneurship: Can Middle Schoolers be Founders?
Living the Founder Legend Isn't so Fun
Why Do VC Funded Startups Love "Fake Growth?"
How Should I Share My Wealth with Family?
How Many Deaths Can a Startup Survive?
This is Probably Your Last Success
Why Do We Still Have Full-Time Employees?
The Case Against Full Transparency
Should I Feel Guilty for Failing?
Always Take Money off the Table
Founder Impostor Syndrome Never Goes Away
When is Founder Ego Too Much?
The Invention of the 20-Something-Year-Old Founder

How to Find Minimum Viable Happiness

Wil Schroter

How to Find Minimum Viable Happiness

What's the least we need as Founders to be happy?

For as much time as we invest in building our startups to achieve our goals, we spend shockingly little time in identifying what those goals actually mean. The danger in not defining our minimum viable happiness goals is that we wind up hoping to "find happiness" but never really defining how to get there.

And that's a pretty big problem when we're in the early stages of building a startup when very little helps fill our "happiness meter."

It's easy to make big, lofty, far away goals, but frankly, that's pretty useless right now. What we need to do is identify the shortest term, minimum goals that will make us happy so that we do everything in our power to get there as quickly as possible.

We Need Safety

It's nearly impossible to achieve any level of happiness without safety. Safety is knowing that even though things aren't necessarily going great, we'll still be OK. We'll be fed, sheltered, and healthy. We may be eating Ramen noodles while living in our parents’ basement (in this scenario our parents won't feed us anything but Ramen) and probably out of shape, but we'll be safe enough to continue fighting.

We love to screw this one up. We say dumb shit like "I need $10 million in the bank to feel safe!" which is true — we'll totally feel safe. But that's a long way away, and that's not going to help us right now.

A more practical goal would be "So long as I can pay myself $5k per month my rent, food, and basic bills will be covered. I won't be living big, but I will be continually safe. If I can get to that goal, I'm good." Recognizing that safety is an achievable goal, and more importantly recognizing that we are safe, is super important.

We Need Validation

It's also difficult to feel "happy" while also feeling invalidated. We all get our validation in different ways, although the two most common places come from our jobs and our relationships. Our startups have such a profound impact on our validation because they feel like an extension of ourselves. Of course, that's our ego talking, but let's not compartmentalize our ego as something to be ignored. It matters.

Very few Founders take the time to truly define and isolate their source of validation. We come up with broad, amorphous goals like "When I sell for $100 million I'll be validated!" which is a shitty validation goal because it's too far away and it's very unlikely from a statistical standpoint.

Instead, we need near-term validation goals to help drive our happiness. "When we get to $10k of monthly recurring revenue, that's my minimum goal for validation." Does that mean we're done? Of course not. It means we're tying our need for validation to a goal that matters, is within reach, and we can build upon it. The alternative is never getting to any point of validation, which is a dangerous place psychologically.

We Need Pride

Similar to how validation supports our ego, pride refuels a precious resource — our optimism. Our optimism in the face of that insane void we all face is the only way we can press on. When do things we're proud of, that drives us to want to do more of it, and by way of that, fuels our happiness.

Conversely, when we fail or feel ashamed of our performance, it depletes our optimism and happiness which for a startup, is very dangerous. We can achieve pride, not through huge milestones like a funding round or a revenue milestone, but in the pride we get from our work.

Pride is about the customer we helped, or the product we shipped, or how we did right by our staff. Similar to validation though, we need to define what drives pride. For example — "My pride comes from shipping great products." While broad, that helps us recenter our focus so that we know where to refill that bucket of pride. We know that every time we ship, we feel happy. That cycle compounds over and over.

Minimum Viable Happiness only works when we take the time to isolate and focus our goals around what truly drives happiness in the near term. When we leave those goals undefined, we're constantly searching through that black hole of being OK without ever truly getting there. It's there if we look for it.

In Case You Missed It

Overwhelmed (podcast) Startups are often portrayed as a go big or go home affair, and as Founders, it's easy to get caught up chasing monumental goals and forget about the daily actions that will actually get us there.

What Happens After I've Made It? We always dream about our startups making it big. But what happens when they really do? What happens when all of the risks actually turn into the payouts we had always hoped for? Are we actually happier?

Growth Isn’t Always Good. In many cases, our focus on growth runs counter to what our goals really should be: becoming a better startup — not just a bigger one.

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