Airbnb’s CEO, Brian Chesky, who runs a $30 Billion company is on the pinnacle of his success, but it doesn’t mean that his journey was perfect. When asked what he would advise his younger self, here is what he said:
Wait for the investors.
Chesky recommends to figure out who already supports you, before accepting investors for your company. If you don’t have that many people vouching for you, Chesky advises to seek out mentors instead. It will be ideal if your mentors are someone your investors respect and admire when they brag about you and your company.
Raise the least amount of money possible.
Chesky believes that startups are raising more money than they need. He added that he would tell his younger self not to raise too much money. He believes that a start-up like environment will develop a scrappy culture, and this particular culture will make you think out-of-the-box, and come up with more novel solutions.
In addition to that, lesser money from the investors means that you have more control of your company, thus creating more constraints. He believes that these limitations open up your creativity.
Embrace and accept control.
He said that if one wants to be truly successful, you would want to make sure you have all the control. He believes that people who give away control do so in the event the company doesn’t go well – which is not a good thing.