The Psychology of Entrepreneurship
In this deep dive interview with Roni Firon, host of The Bigger Picture Podcast, Yuval Tal, Managing Partner at Team8, shares raw and unfiltered insights about the emotionally taxing journey of entrepreneurship. A must-listen for anyone thinking of taking the plunge and launching their own startup.
This discussion about the trials, tribulations and joys of being a founder is largely informed by Yuval’s real-world entrepreneurial experience. In addition to having founded Borderfree which was acquired for $400m and Payoneer which went public on the Nasdaq earlier this year – Yuval currently sits on the venture side of company-building at Team8, where he provides strategic guidance and support to founders in our Fintech portfolio. As a battle-tested domain expert, Yuval knows what he’s talking about.
“I hate failure…it’s not an option. You can have hiccups. You can lose a customer, you can lose a person that you don’t want to lose, but you start a company with the intention to succeed and with the tenacity to succeed.”
This interview covers a range of topics spanning the soft side of entrepreneurship. It’s filled with golden nuggets of advice that – if heeded – could set you on the path to success. Here are just a few of the questions and themes they covered:
[04:45] Do you have the emotional and mental determination to start a company?
[12:38] How important is intelligence when it comes to being a founder?
[14:05] Is entrepreneurship romanticized?
[16:30] Does failure in a previous company-building venture really make you stronger?
[20:22] Is your idea good enough, and how do you filter out the noise when seeking advice?
[29:35] Do you really need a co-founder, and how do you pick the right partner?
[34:14] What kind of personality traits should you look for when building a team?
[37:09] When do you know if it’s time to let someone go?
[40:50] What makes a good leader?
[42:54] Can you maintain your company culture and work ethic as you scale?
[48:03] How do you sell your vision to investors?
[51:42] What qualities should you look for in an investor?
[55:35] When is the opportune time for an exit?
Entrepreneurship is an emotional rollercoaster – with twists and turns, dizzying highs and crushing lows. But mostly, it’s a game of courage and grit. If you’ve been ruminating on a potential startup venture, but want to hear first-hand what it takes to make it, Yuval’s interview is essential listening.
Check out the full video below: