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# Coaching Techniques Reference
Detailed methodology guides for effective founder coaching conversations.
## Growth Mindset in Coaching (Carol Dweck Research)
### The Core Finding
35+ years of research shows that **how you praise matters more than how much you praise**.
**[Mueller & Dweck (1998)](https://doi.org/10.1037/0022-3514.75.1.33)** - *Journal of Personality and Social Psychology* - 5th graders given different types of praise:
- **Trait praise** ("You must be smart"): Students avoided challenges, lost confidence when struggling, performance declined, 38% lied about scores
- **Process praise** ("You must have worked hard"): Students sought challenges, persisted through difficulty, performance improved
### Fixed vs. Growth Mindset
| Fixed Mindset | Growth Mindset |
|--------------|----------------|
| Intelligence/ability is static | Intelligence/ability grows with effort |
| Avoids challenges (might fail) | Seeks challenges (opportunity to grow) |
| Effort = you're not smart enough | Effort = path to mastery |
| Gives up when stuck | Persists through obstacles |
| Ignores useful feedback | Learns from criticism |
| Threatened by others' success | Inspired by others' success |
### How Coaching Language Shapes Mindset
**Fixed mindset triggers:**
- "You're a natural entrepreneur"
- "You're so talented at this"
- "Some people just have it"
- "You're smart enough to figure this out" (implies smartness is fixed)
**Growth mindset triggers:**
- "Your strategy here was effective"
- "The effort you put into preparation shows"
- "You've improved significantly since we last talked"
- "What did you learn from that setback?"
### Reframing Struggle as Growth
**Fixed mindset view:** Struggle = evidence of inadequacy
**Growth mindset view:** Struggle = evidence of learning happening
**Coaching reframes:**
- "Finding this hard means you're pushing your boundaries"
- "Confusion is often the first step to understanding"
- "The fact that you're stuck shows you're tackling something meaningful"
- "What's one thing this challenge is teaching you?"
### The Effort Paradox
**Warning:** Praising effort alone can backfire if the effort isn't effective.
**Ineffective:** "You tried really hard!" (when strategy was wrong)
**Effective:** "You tried multiple approaches—what did you learn about which ones work?"
The goal is to praise **effective effort**—effort that involves good strategies, seeking help, and learning from mistakes.
### Application to Founder Coaching
| Situation | Fixed Mindset Response (Avoid) | Growth Mindset Response (Use) |
|-----------|-------------------------------|------------------------------|
| Founder succeeds | "You're a great founder" | "Your approach to customer discovery was methodical" |
| Founder fails | "Maybe this isn't for you" | "What did this teach you? How will you adjust?" |
| Founder is stuck | "You should be able to figure this out" | "Getting stuck on hard problems is normal. What have you tried?" |
| Founder avoids challenge | "That's okay, play to your strengths" | "What would you learn by trying it anyway?" |
## GROW Model
The most widely-used coaching framework, developed by Sir John Whitmore.
### Structure
**G - Goal**: What do you want to achieve?
**R - Reality**: Where are you now?
**O - Options**: What could you do?
**W - Will**: What will you do?
### Goal Questions
Start by establishing what the founder wants from this conversation and longer-term:
- "What would you like to focus on today?"
- "What does your ideal future look like?"
- "Over what time frame?"
- "How will you know when you've achieved it?"
- "What would make this session well-spent?"
**Keys to Good Goals**
- Specific enough to measure
- Within founder's control
- Positively stated (what they want, not what they don't want)
- Time-bound
### Reality Questions
Understand current situation without judgment:
- "Where are you now on a scale of 1-10?"
- "What's happening at the moment?"
- "What have you tried so far?"
- "Who else is involved?"
- "What's stopping you from being at a 10?"
- "What resources do you have?"
- "What's worked before in similar situations?"
**Purpose**: Create accurate assessment, surface assumptions, identify resources already available.
### Options Questions
Generate possibilities without evaluating yet:
- "What could you do?"
- "What else?" (ask 3-5 times)
- "If you had no constraints, what would you do?"
- "What would you advise a friend in this situation?"
- "What are the advantages and disadvantages of each option?"
- "What would happen if you did nothing?"
- "Who else might help?"
**Rules**
- Quantity over quality first
- No evaluation during brainstorming
- Include wild/unlikely options
- Ask "what else?" until genuinely stuck
### Will Questions
Convert options into specific commitments:
- "What will you do?"
- "When exactly will you do it?"
- "What obstacles might you meet?"
- "How will you overcome them?"
- "Who needs to know?"
- "What support do you need?"
- "How committed are you on a scale of 1-10?"
- "What would make it a 10?"
**Commitment Checklist**
- Is it specific?
- Is there a deadline?
- Are obstacles anticipated?
- Is commitment level high (8+)?
## Solution-Focused Brief Coaching
Developed by Steve de Shazer and Insoo Kim Berg. Core philosophy: Focus on solutions, not problems.
### Core Principles
1. **If it ain't broke, don't fix it**
2. **Once you know what works, do more of it**
3. **If it's not working, do something different**
### The Miracle Question
**"Suppose tonight while you sleep, a miracle happens. The problem is solved. When you wake up tomorrow, what will be the first small sign that tells you the miracle happened?"**
**Follow-Up Questions**
- "What will be different?"
- "Who will notice first?"
- "What will they see you doing?"
- "What will that make possible?"
**Purpose**: Bypass problem-focus, reveal desired future state, make abstract goals concrete.
### Exception Finding
**"Tell me about a time when this problem wasn't happening, or was less severe. What was different? What were you doing differently?"**
**Follow-Up Questions**
- "How did you make that happen?"
- "What was different about that situation?"
- "How could you do more of that?"
**Purpose**: Identify existing solutions, build on past successes, recognize founder's own resources.
### Scaling Questions
**"On a scale of 1-10, where 10 is the miracle and 1 is the worst it's been, where are you today?"**
**Follow-Ups**
- "What makes it a [current number] and not lower?"
- "What would it take to move from [current] to [current +1]?"
- "When have you been at a higher number?"
- "What was happening then?"
**Purpose**: Make abstract progress concrete, identify small steps, celebrate progress already made.
### Coping Questions
For founders in crisis or overwhelm:
- "How have you managed to keep going despite everything?"
- "What keeps you from giving up?"
- "What's one thing that's still working?"
**Purpose**: Recognize resilience, identify coping resources, shift from helplessness to agency.
## Socratic Method
Named after Socrates. Uses disciplined questioning to stimulate critical thinking and illuminate assumptions.
### Six Types of Socratic Questions
**1. Clarifying Questions**
- "What exactly do you mean by...?"
- "Can you give me an example?"
- "How does this relate to your goal?"
- "What's the connection between X and Y?"
**2. Probing Assumptions**
- "What are you assuming here?"
- "Is that always the case?"
- "What would happen if that assumption were wrong?"
- "What would need to be true for X?"
**3. Probing Reasons and Evidence**
- "What evidence supports that?"
- "How do you know that's true?"
- "What makes you say that?"
- "Is that data or intuition?"
**4. Exploring Viewpoints and Perspectives**
- "How would your co-founder see this?"
- "What's the alternative perspective?"
- "How would this look from your users' view?"
- "What would a skeptic say?"
**5. Examining Implications and Consequences**
- "If you do that, what happens next?"
- "What are the long-term implications?"
- "How does this affect your other goals?"
- "What's the cost of this choice?"
**6. Meta-Questions (Questions about Questions)**
- "Why do you think I asked that?"
- "What other questions should we explore?"
- "What question would be most useful right now?"
- "What are you not asking that you should be?"
### The Funnel Technique
**Start Broad**
"Tell me about the situation you're facing."
**Narrow Focus**
"Of all those factors, which feels most critical?"
**Go Deep**
"What makes that factor so important to you?"
**Surface Insights**
"What are you realizing as we talk through this?"
**Plan Action**
"Given what we've discovered, what's one small step you could take?"
## Michael Bungay Stanier's 7 Essential Questions
From "The Coaching Habit"—designed to stay curious longer and rush to advice less quickly.
### 1. "What's on your mind?" (The Kickstart Question)
- Open-ended, focused
- Gets to what's actually important
- Better than "How are you?"
### 2. "And what else?" (The AWE Question)
- Most important question
- First answer is rarely the real answer
- Prevents rushing to problem-solving
- Ask 3-5 times per conversation
### 3. "What's the real challenge here for you?" (The Focus Question)
- Cuts through complexity
- "Real challenge" = get to the root
- "For you" = makes it personal, not abstract
### 4. "What do you want?" (The Foundation Question)
- Clarifies desired outcome
- Creates autonomy
- Transitions from reflection to action
### 5. "How can I help?" (The Lazy Question)
- Places ownership on the other person
- Prevents assuming you know how to help
- Acceptable responses: Yes/No/Alternative/Let me think
### 6. "If you're saying yes to this, what are you saying no to?" (The Strategic Question)
- Forces prioritization
- Reveals trade-offs
- Creates focus and boundaries
### 7. "What was most useful for you?" (The Learning Question)
- Consolidates learning
- Builds self-awareness
- Improves future sessions
## Radical Candor for Honest Feedback
Kim Scott's framework for giving feedback that's both caring and direct.
### The 2x2 Matrix
| | Low Challenge | High Challenge |
|---|---|---|
| **High Care** | Ruinous Empathy | **RADICAL CANDOR** ✓ |
| **Low Care** | Manipulative Insincerity | Obnoxious Aggression |
**Ruinous Empathy** is the most common failure mode—being nice instead of being helpful.
### The CORE Method for Criticism
When delivering difficult feedback, use this structure:
- **C**ontext: "In yesterday's investor pitch..."
- **O**bservation: "When you said the market is $50B without citing a source..."
- **R**esult: "The investor visibly disengaged and asked no follow-up questions..."
- **E**xpectation: "Going forward, lead with credible third-party market data."
### Application for Founder Coaching
**Before giving hard feedback:**
1. Check your intent—are you trying to help them succeed?
2. Use CORE structure to be specific, not vague
3. Focus on behavior and results, not character
4. Make it a conversation: "How does that land for you?"
**Common mistakes:**
- The "feedback sandwich" (positive-negative-positive) buries the message
- Adam Grant: "When you start and end with positive feedback, criticism gets buried or discounted"
- Better: Direct feedback followed by "What would help?"
## Powerful Question Characteristics
Research shows effective coaching questions share these traits:
### Open-Ended
- Start with What, How, When
- Avoid Why (too defensive)
- Allow exploration, not yes/no
**Good**: "What options do you see?"
**Bad**: "Do you have options?"
### Future-Focused
- "What do you want to create?"
- "Where do you want to be in 6 months?"
- Not: "Why did this go wrong?"
### Generatively Ambiguous
- Allow client to define terms their own way
- "What does success mean to you?"
- Not: "Do you want to hit $1M ARR?"
### Short and Clean
- 5-10 words ideal
- No metaphors unless client introduces them
- Minimal interference from coach
### Client-Focused, Not Problem-Focused
- "What do you want?"
- "What's working?"
- Not: "What's the problem?" "What's broken?"
## Accountability Structures
### The Accountability Conversation
**Opening (5 minutes)**
1. "What did you commit to last time?"
2. "What actually happened?"
3. If completed: "What did you learn?"
4. If not completed: "What got in the way?" (curious, not judgmental)
**Middle (20 minutes)**
5. "What does that tell you?"
6. "What do you want to do differently?"
7. Continue with GROW or other framework
**Closing (5 minutes)**
8. "What's your commitment for next time?"
9. "On a scale of 1-10, how confident are you?"
10. "What might get in the way?"
11. "How will you handle that?"
### Making Commitments Stick
**SMART Format**
- **Specific**: "Talk to 10 users" not "do user research"
- **Measurable**: Clear success criteria
- **Achievable**: Within founder's control
- **Relevant**: Connected to stated goals
- **Time-bound**: "By Friday" not "soon"
**Obstacle Pre-Mortems**
Before any commitment is made:
- "What might get in the way?"
- "What's happened before when you tried this?"
- "What would make it a 10/10 in commitment?"
- If below 8/10: "What would make it higher?"
### Commitment Devices
Research-backed techniques:
- **Public commitment**: Share goals with someone else
- **Implementation intentions**: "If X happens, I will do Y"
- **Progress documentation**: Visual tracking
## When to Ask vs. When to Tell
### Default to Questions (80%)
**Why Questions Work Better**
- Founder implements THEIR solution, not yours
- Builds decision-making capacity
- You don't have full context
- Creates ownership, not dependency
### When Advice IS Appropriate (20%)
1. Founder explicitly asks: "What would you do?"
2. Safety/legal/ethical considerations
3. Factual information (grants, market data, frameworks)
4. After thorough exploration, founder is genuinely stuck
### How to Give Advice Without Undermining
1. **Ask permission**: "Would it be useful if I shared what I've seen work for others?"
2. **Offer options, not directives**: "Some founders have tried X or Y. What resonates?"
3. **Stay tentative**: "I wonder if..." not "You should..."
4. **Check fit**: "How does that land for you?"
5. **Return to questions**: "What would you adapt from that for your situation?"
## Empowerment Techniques
### Reflect Questions Back
**Founder**: "Should I hire a head of sales?"
**Weak**: "Yes, you should."
**Strong**: "What's making you consider that now?"
### Mine Past Successes
- "When have you faced a similar decision? What did you do?"
- "What's worked for you in the past when you were uncertain?"
### Expand Options
- "What else could you try?"
- "If that option wasn't available, what would you do?"
- "What would [someone they admire] do?"
### Strengthen Decision-Making
- "What criteria matter most here?"
- "What information would help you decide?"
- "How will you know if it's the right call?"
### Build Meta-Cognition
- "What's your thinking process here?"
- "How are you approaching this decision?"
- "What questions are you asking yourself?"
## Anti-Patterns to Avoid
### Solution Dumping
**Problem**: Immediately providing answers
**Fix**: Ask 3 questions before any suggestion
### Vague Questions
**Problem**: "How do you feel about that?"
**Fix**: Specific questions that advance thinking
### Interrupting
**Problem**: Talking more than listening
**Fix**: Target 20% coach, 80% founder
### Making It About You
**Problem**: "When I was building my startup..."
**Fix**: Share sparingly, return to their situation
### Ignoring Emotions
**Problem**: Pure analysis on emotional topics
**Fix**: Acknowledge before problem-solving
### Being Too Nice
**Problem**: Sugar-coating dilutes value
**Fix**: "I want to be direct with you..."
### Generic Advice
**Problem**: Same advice to everyone
**Fix**: Mine their specific context

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# Crypto/Web3 Founder Guide
Specific considerations for crypto founders, with focus on Solana ecosystem (November 2025).
## Market Context (November 2025)
### Crypto Adoption (a16z State of Crypto 2025)
**Market Size** ([a16z State of Crypto 2025](https://a16zcrypto.com/posts/article/state-of-crypto-report-2025/))
- **Total market cap**: Crossed $4 trillion (first time)
- **Crypto owners globally**: 716 million (+16% YoY)
- **Active onchain users**: 40-70 million
- **Mobile wallet users**: All-time highs (+20% YoY)
- **Only 5.6-9.8% of owners** actively transact onchain—massive builder opportunity
**Infrastructure Readiness**
- **3,400+ TPS** aggregate across major networks (100x growth in 5 years)
- **L2 fees dropped**: ~$24 (2021) → <$0.01 (2025)
- **Blockspace**: Now "cheap and abundant" per a16z
### Current Conditions
**Market State**
- Correction phase: BTC from $111K peak to sub-$100K
- "Extreme Fear" on sentiment indicators
- $340B market cap wipeout
- $19B in liquidations
**The Opportunity**
- Historic precedent: Extreme fear precedes major recoveries
- Companies building through volatility dominate next cycle
- Hiring strategy should be tied to execution milestones, not prices
- Your strategy should not change based on daily price action
### Funding Reality
**Q1-Q3 2025: $22.8B Total** (Sources: [Galaxy Digital Q3 2025](https://www.galaxy.com/insights/research/crypto-blockchain-venture-capital-q3), [CryptoRank Q3 2025](https://cryptorank.io/insights/reports/crypto-fundraising-report-Q3-25))
- **Q1 2025:** $4.8B (incl. $2B Binance/MGX—largest crypto VC deal ever)
- **Q2 2025:** $10B+—first quarter exceeding $10B in 3 years
- **Q3 2025:** $4.65B across 415 deals (7 deals = 50% of capital)
- **Median deal size:** $4.5M (all-time high) ([Galaxy Q3 2025](https://www.galaxy.com/insights/research/crypto-blockchain-venture-capital-q3))
- **US dominance:** 40-47% of all deals and capital
- **IPOs replacing tokens:** Circle IPO (5x return), Strategy $2.47B IPO, Bullish $1.11B IPO
- **GENIUS Act passed (Jul 2025)**—first federal stablecoin framework
- **Seed→Series A graduation:** Only 17% of seed-funded crypto companies reach Series A ([funding.decentralised.co](https://funding.decentralised.co/))
**Priority Sectors by VC Evidence** (Sources: [Galaxy Digital](https://www.galaxy.com/insights/research/crypto-blockchain-venture-capital-q3), [a16z State of Crypto 2025](https://a16zcrypto.com/posts/article/state-of-crypto-report-2025/), [CryptoRank](https://cryptorank.io/insights/reports/crypto-fundraising-report-Q3-25))
| Sector | Signal |
|--------|--------|
| Stablecoins/Payments | $46T transaction volume (106% YoY); $300B+ supply; #17 US Treasury holder a16z |
| CeFi + Infrastructure | >60% of Q3 2025 funding; IPO exits proving business models CryptoRank |
| DeFi (Solana-focused) | ~20% of spot trading on DEXs; Hyperliquid $1B+ annualized revenue a16z |
| Crypto-AI Integration | $30T agent economy by 2030 (Gartner via a16z); top thesis for Pantera |
| DePIN | $3.5T projected by 2028 (WEF); Helium 1.4M daily users, 111K hotspots |
| RWAs/Tokenization | $30B tokenized on-chain; 4x growth in 2 years a16z |
**What's Declining**: Security tooling, generic interoperability, NFT speculation, enterprise blockchain.
**What VCs Want**
- Revenue-generating models over speculation
- Regulatory compliance as competitive advantage
- Sustainable unit economics
- Infrastructure plays > consumer apps
**Rob Hadick** (Dragonfly): "Don't see funding levels reaching 2021-2022 highs for a very long time." Established companies (founded ~2018) getting majority of capital; newer companies get deal count but smaller checks.
### Global Developer Landscape (Electric Capital 2024)
**Geographic Shift** ([Electric Capital Developer Report 2024](https://developerreport.com/developer-report))
- **Asia overtook North America** as #1 region for crypto developers (32% vs 24%)
- **India**: Rose from 10th to 2nd globally, contributing 17% of new developers
- **US share dropped**: From 38% (2015) to 19% (2024)—81% of crypto devs now outside US
- **34% of developers** now work on multiple chains (up from <10% in 2015)
**Developer Quality vs. Quantity**
- Total monthly active devs: 23,613 (-7% YoY)
- BUT established developers (2+ years): **+27% YoY** (all-time high)
- 70% of all code commits from 2+ year developers
- 80% of developer losses from part-time/one-time contributors
**Ecosystem Rankings**
| Ecosystem | Monthly Active Devs | New Devs (2024) | YoY Growth |
|-----------|---------------------|-----------------|------------|
| Ethereum (+ L2s) | 31,869 | 16,181 | - |
| Solana | 17,708 | 7,625 | +83% |
| Bitcoin | ~1,200 | 7,400+ | Stable |
## Solana Ecosystem
### Network Performance (Q3 2025)
Source: [Messari State of Solana Q3 2025](https://messari.io/report/state-of-solana-q3-2025)
- **Avg Daily Non-Vote Txs**: 95.9M — real user activity (excludes validator votes)
- **Avg Daily Fee Payers**: 2.8M unique addresses
- **Avg Tx Fee**: $0.012 (0.000061 SOL)
- **Median Tx Fee**: $0.0012 (0.000006 SOL) — local fee markets keep costs low even during spikes
- **Active Validators**: 963 across 38 countries, 208 data centers
- **Nakamoto Coefficient**: 20 — above median of other networks
- **Uptime**: 16+ months continuous (longest since launch)
- **Peak TPS**: Briefly hit 100,000 TPS under stress test
### Economic Strength (Q3 2025)
Source: [Messari State of Solana Q3 2025](https://messari.io/report/state-of-solana-q3-2025)
- **DeFi TVL**: $11.5B (+32.7% QoQ) — #2 among all networks after surpassing TRON
- **Stablecoin Market Cap**: $14.1B (+36.5% QoQ, ATH) — USDC $10B (71%), USDT $2.4B (17%)
- **Chain GDP (App Revenue)**: $584.3M — PumpFun $118M, Jupiter $93M, Axiom $85M
- **App Revenue Capture Ratio**: 262.8% — apps earn $2.63 for every $1 in tx fees
- **Q3 REV**: $222.3M — highest of all blockchains (base fees + priority fees + MEV tips)
- **Avg Daily DEX Volume**: $4B spot (+17% QoQ), $1.6B perps (+93% QoQ)
- **RWA Value**: $682.2M (+41.9% QoQ) — USDY, BUIDL, ONyc leading
- **Developer Growth**: #1 for new developers globally with 7,625 new devs in 2024 (+83% YoY); 17,708 active total ([Electric Capital 2024](https://developerreport.com/developer-report))
- **Only country where Solana is #1**: India (27% of new Indian devs chose Solana)
### Institutional Adoption
Source: [Messari State of Solana Q3 2025](https://messari.io/report/state-of-solana-q3-2025)
- **Rex Osprey Solana Staking ETF (SSK)**: First US staking crypto ETF, launched July 2, 2025 — $330.2M flows since inception
- **9 additional SOL ETF filings** pending approval (VanEck, Invesco, Galaxy, others)
- **Digital Asset Treasury Companies (DATs)**: 20 companies hold 18.9M SOL ($3.9B)
- Forward Industries: 6.8M SOL (largest) — $1.65B raise led by Galaxy, Jump, Multicoin
- Solana Company: 2.2M SOL (backed by Pantera, Summer Capital)
- **Total Staked**: 409.6M SOL ($85.5B) — 67.1% of circulating supply
### Why Solana Wins for Payments/Infrastructure
- Sub-200ms payments match x402 speed requirements
- Sub-penny fees enable true micropayments
- Proven scale (162M+ daily transactions)
- Existing payment infrastructure (USDC, Jupiter, Drift)
- Institutional validation (Franklin Templeton, BlackRock, Pantera)
## Grants & Funding Sources
### Solana Foundation Grants
**Program Overview**
- Total deployed: $100M+ across 500+ projects
- Grant types: Milestone-based, convertible, RFPs
**How to Apply**
1. Fill application at Solana Foundation portal
2. Project overview + public good justification
3. Structured budget + milestones
4. ~1 week review process
**Recent RFPs**
- $400K for Solana Actions/Blinks open-source dev
- $275K for open-source data tooling
- Solana Mobile Builder Grants
### Superteam Grants
**Fast Track for Emerging Markets**
- Funding: $200 - $10,000 (equity-free)
- Application: <15 minutes
- Decision: 48 hours
- Contact: grants@superteam.fun
**What Gets Funded**
- Public goods for Solana community
- Decentralization/censorship resistance tools
- Technical contributions + dApps
- Content creation/community initiatives
**What Doesn't Get Funded**
- Projects unrelated to Solana
- Purely commercial without community benefit
- No clear implementation plan
### Colosseum Accelerator
**Program Details**
- Investment: $250K pre-seed per team
- Acceptance rate: ~0.68% (highly competitive)
- Major hackathons: Renaissance, Radar, Breakout (2x/year)
- Eternal Challenge: Perpetual 4-week sprints (submit anytime)
- Eternal Award: $25K USDC semi-annually
**What They Look For**
- Technical excellence
- Clear problem/solution fit
- Strong team execution
- Ecosystem integration potential
### Other Funding Sources
**Ecosystem VCs**
- RockawayX: $125M Fund II (Solana focus)
- Solana Ventures: Active ecosystem support
- Multicoin Capital: Internet Capital Markets thesis
- Galaxy Digital: Deep Solana research
**Regional Programs**
- Solana x Cal Grants: Up to $10K USDC (USA)
- Superteam country chapters
## Regulatory Environment
### Project Crypto (SEC, November 2025)
**Major Shift**
- Chair Paul Atkins: Comprehensive regulatory modernization
- Token Taxonomy: Clear Howey analysis framework coming
- Multi-Function Platforms: Enabling crypto "super-apps"
- Goal: Position U.S. as global leader in digital finance
**What This Means**
- End of "regulation by enforcement"
- Clear rules for custody, trading, exchanges
- Path for crypto businesses to return to U.S.
- Compliance = competitive advantage
### Solana ETFs
**Breaking Development (June 2025)**
- SEC requested updated filings for Solana ETFs
- Approval expected within 4 months
- Will unlock institutional capital similar to BTC/ETH ETFs
### Practical Implications
- Budget for legal from day one ($25K-50K)
- Engage crypto-specialized lawyers
- Consider jurisdiction strategy
- Document compliance efforts
- Join industry groups (Blockchain Association)
## Go-to-Market for Crypto
### Building in Public vs. Stealth
**Community-First (Recommended for Most)**
- Build community BEFORE product launch
- Attract 100 "true fans" as foundation
- Authenticity >> marketing budget
- High-quality content + ecosystem participation
**When to Go Stealth**
- Highly competitive market with copycat risk
- Novel technology requiring IP protection
- Need quiet cycles to fix unit economics
**Hybrid (Popular)**
- Stealth dev + selective community building
- Share progress with early believers
- Launch to existing community
### Distribution Channels
**Developer Relations (Critical for Infrastructure)**
- Build tools that make developers successful
- Documentation >>> marketing
- Hackathons, workshops, tutorials
- DevRel = your growth engine
**X (Twitter) as Primary Channel**
- Founder-led narrative building
- Technical deep dives + progress updates
- Engage in ecosystem discussions
- Founder faces beat brand pages
**Progressive Disclosure**
- Don't announce until you have something to show
- Ship features, then market them
- Let users discover and evangelize
### Community as Product
**Core Principle**: Your community IS the product, not a marketing channel.
**Pre-Launch**
- Build small, dedicated group (100 true fans)
- Shared mission, not speculation
- Active ecosystem participation
**Launch**
- Reward true believers (not farmers)
- Design launch FOR your community
- Community becomes distribution
**Post-Launch**
- Turn users into owners
- Governance participation
- Co-creation of roadmap
## Revenue Models That Work
### DeFi Infrastructure
- **Transaction fees**: % of volume (DEXs, lending)
- **Spread/slippage**: Market making revenue
- **Staking fees**: 5-10% of staking rewards
- **MEV capture**: Via Jito or similar
### Payments Infrastructure
- **x402 Protocol**: Agent-to-agent payments
- **Payment rails**: Crypto-native settlement
- **B2B payments**: Stablecoin invoicing
- **Subscription models**: Recurring crypto payments
### Platform/Network Effects
- Marketplaces (take rate on transactions)
- Aggregators (fee per API call)
- Infrastructure-as-a-Service (RPC, indexing)
- Data/Analytics (subscription + API)
### What to Avoid
- Token-only value capture (no cash flow)
- Mercenary liquidity mining
- Ponzi-nomics (unsustainable yields)
- Grant-dependent (no path to sustainability)
**Key Principle**: Show path to real revenue within 12 months.
## Security & Audits
### Why Audits Are Non-Negotiable
**Historical Context**
- 2021: ~$2B lost to DeFi vulnerabilities
- 2022: Ronin ($600M), Euler ($197M)
- One exploit destroys project overnight
**What One Hack Costs**
- User funds (and trust) destroyed
- Project death
- Legal liability
- Blacklisted from future funding
### Audit Cost Breakdown
| Project Type | Cost Range | Timeline |
|-------------|-----------|----------|
| Simple Token | $8K - $15K | 1-2 weeks |
| DEX/AMM (Basic) | $25K - $50K | 2-4 weeks |
| Lending Protocol | $50K - $100K | 4-6 weeks |
| Complex DeFi | $100K - $150K+ | 6-8 weeks |
**Cost Factors**
- Code complexity (LOC, architecture)
- Novel mechanisms vs. battle-tested
- Firm reputation (Tier 1 = premium)
- Documentation quality
- Timeline (rush = 20-50% more)
### Top Audit Firms (Solana)
**Tier 1 ($$$)**
- Trail of Bits
- OpenZeppelin
- Halborn
**Tier 2 ($$)**
- OtterSec (Solana-native)
- Neodyme (Solana-focused)
- Sec3
- Zellic
### Cost-Saving Strategies
1. **Clean code first**: Internal review reduces scope
2. **Clear documentation**: Saves auditor time
3. **Battle-tested libraries**: Anchor, SPL standards
4. **Start small**: Audit MVP, iterate
5. **Multiple audits**: 2 smaller audits vs. 1 expensive
### Pre-Audit Checklist
- [ ] Comprehensive test suite (>80% coverage)
- [ ] Internal security review
- [ ] Clear architecture documentation
- [ ] Threat model documented
- [ ] Known issues/assumptions listed
- [ ] Testnet deployment + stress testing
**Budget Rule**: 5-10% of development budget for audits.
## Crypto-Specific Death Patterns
### Pattern 1: Building Tech Without a Problem (~30% of failures)
"Cool tech but without ever thinking if it's solving a real problem."
**Death signal**: Can't answer "Why does this need to be on-chain?" simply
**Coaching question**: "If blockchain didn't exist, how would you solve this problem?"
### Pattern 2: Token Before Product
Large premines, no economic flywheel, speculation-driven.
**Death signal**: TGE announcement before product traction metrics
**Coaching question**: "What would your product look like if you never launched a token?"
### Pattern 3: Regulatory Naïveté
No legal counsel, no token classification analysis.
**Death signal**: Launching in jurisdiction you don't understand
**Coaching question**: "Have you had a securities lawyer review your token structure?"
### Pattern 4: Ecosystem Protocol Dependency
Building on experimental chains without escape plan.
**Death signal**: Core infrastructure depends on unproven L2/protocol
**Coaching question**: "What happens if [dependency] fails or pivots? What's your exit plan?"
### Pattern 5: VC Capital Without PMF
VCs now "laser-focused on fundamentals"—funding without product-market fit is increasingly rare.
**Death signal**: Spending VC money on growth before retention metrics work
**Coaching question**: "If you couldn't raise more money, how would you get to profitability?"
### Pattern 6: The 53% Failure Rate
1.8M tokens failed in Q1 2025 alone; 52.7% of all cryptos since 2021 are "dead" ([CoinGecko Research, April 2025](https://www.coingecko.com/research/publications/how-many-cryptos-failed)).
**Death signal**: No differentiation from existing solutions
**Coaching question**: "What's different about your approach that would make you survive when half of projects fail?"
### Pattern 7: Ignoring Sybil-Proofing
zkSync, Starknet heavily criticized for airdrop farmer capture.
**Death signal**: Airdrop strategy without anti-sybil measures
**Coaching question**: "How do you ensure your token distribution rewards real users, not farmers?"
### Pattern 8: Hype > Delivery
Marketing roadmap commitments you can't ship.
**Death signal**: Public promises with no technical execution plan
**Coaching question**: "Can you ship what you've promised in the next 90 days? What's blocking you?"
*Note: The following percentages are estimates based on industry post-mortems and VC analysis, not a single comprehensive study.*
### Weak Security (~25% of failures)
- Rushed smart contracts
- Skipped audits
- Result: Hacks, drained treasuries
### Overhyped Fundraising (~20% of failures)
- Raise millions without sustainable product
- Burn > runway before PMF
### Poor Community Trust (~15% of failures)
- Broken promises
- Anonymous teams that rug
- Ignored feedback
### Ignoring Compliance (~10% of failures)
- "Move fast and break things" doesn't work
- Regulatory enforcement kills projects
### Pre-Revenue Specific
- Burning cash on marketing too early
- Wrong team composition (too much biz/ops before PMF)
- Chasing hype cycles (pivoting to whatever's hot)
- Neglecting audits
## Successful Project Patterns
### Jupiter (DEX Aggregator)
- Technical excellence first
- Best execution for traders
- Clean UX rivaling CEXs
- Built reputation before token
- Community-first governance
### Drift Protocol (Perpetuals)
- First-mover advantage
- Strong technical documentation
- Active community
- Continuous iteration
### Jito (Liquid Staking + MEV)
- Solved real problem (MEV redistribution)
- Built infrastructure others depend on
- Technical credibility first
- Open-source + transparent
### Common Patterns
1. **Technical Excellence First**: Product works reliably at scale
2. **Solve Real Problem**: "Must have" not "nice to have"
3. **Community-Driven**: Users become evangelists
4. **Transparent Operations**: Regular updates, public roadmap
5. **Ecosystem Integration**: Composability with other protocols
6. **Sustainable Economics**: Real revenue, not speculation
## Treasury Management
### The Challenge
- Token-based treasuries lose value in downturns
- Fundraising dries up in bear markets
- User acquisition costs rise
### Recommended Allocation
- **50%+ Stables (USDC)**: Operational runway
- **30% Blue Chips (SOL, BTC, ETH)**: Moderate exposure
- **20% Native Token**: If applicable
### Runway Discipline
- 24-month minimum runway at all times
- Burn rate tied to milestones, not price
- Monthly financial reviews
- Scenario planning (bull/bear cases)
### Hiring Strategy
- Hire for execution milestones, not market conditions
- Pay market rates (don't "time" with low salaries)
- Equity/tokens + stables (not just tokens)
## 18-Month Path to Seed
### Phase 1: Grants (Month 1-6)
- Apply: Solana Foundation, Superteam
- Target: $10K-50K initial capital
- Build MVP + core community (100 people)
### Phase 2: Accelerator (Month 4-9)
- Colosseum Eternal (anytime submission)
- Major hackathon participation
- Target: $250K pre-seed
### Phase 3: Launch + Traction (Month 6-12)
- Mainnet launch with audits
- Ecosystem partnerships
- First $10K revenue month
- Revenue model validation
### Phase 4: Seed Round (Month 12-18)
- Show revenue + community traction
- Target Solana-focused VCs
- Target: $1M-3M seed
### Budget Framework
**Capital Sources**
- Grants: $50K-100K
- Accelerator: $250K
- Early Revenue: $25K-100K
- Seed: $1M-3M
**Burn Rate**
- Pre-Accelerator: $15K-25K/month
- Post-Accelerator: $40K-60K/month
- Post-Seed: $100K-150K/month
**Key Milestones**
- Month 3: First grant received
- Month 6: Accelerator acceptance
- Month 9: MVP on mainnet
- Month 12: First $10K revenue month
- Month 18: Seed round closed
## Resources
### Communities
- Solana Discord
- Superteam (regional chapters)
- Colosseum Discord
- Helius Dev Community
### Tools
- RPC: Helius, Triton, QuickNode
- Analytics: Dune, Flipside
- Testing: Bankrun, Devnet
### Content & Research (Free)
- [Galaxy Digital Research](https://www.galaxy.com/insights/research/) - Quarterly VC reports, institutional grade
- [a16z State of Crypto](https://a16zcrypto.com/posts/article/state-of-crypto-report-2025/) - Annual comprehensive report
- [Electric Capital Developer Report](https://developerreport.com/developer-report) - Developer ecosystem data
- [CryptoRank Reports](https://cryptorank.io/insights/reports/) - Quarterly funding analysis
- [funding.decentralised.co](https://funding.decentralised.co/) - 15K+ funding rounds database (free)
- Helius Blog - Solana ecosystem reports
- Messari - Some free reports, enterprise paywalled
### Events
- Breakpoint (annual conference)
- Solana Hacker House (global)
- Colosseum Hackathons

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# 2025 Founder Playbook
Complete survival guide for pre-revenue technical founders navigating the current startup landscape.
## The 2025 Reality Check
### What's Changed
**AI-Driven Transformation**
- AI captured **52-63% of all VC funding** in 2025—$192.7B YTD through Q3 ([PitchBook Q3 2025](https://pitchbook.com/news/reports/q3-2025-pitchbook-nvca-venture-monitor))
- **41% of all VC dollars** went to just 10 companies in 2025 ([PitchBook, Aug 2025](https://pitchbook.com/news/articles/41-of-all-vc-dollars-deployed-this-year-have-gone-to-just-10-startups))
- Solo founders have unprecedented leverage—SOTA models enable one person to build what required teams
- 35% of 2024 startups were solo-founded ([Carta Founder Ownership Report 2025](https://carta.com/data/founder-ownership/))
**Traction Gauntlet**
- 2021's "idea funding" era is over
- Pre-seed requires MVP + users; median pre-seed raise: **$700K** ([Metal.so 2025](https://www.metal.so/collections/seed-to-series-a-timeline-saas-startups-2025))
- Seed rounds require $10K+ MRR with 10%+ monthly growth
- **Series A crunch is real**: Only **15.4%** of seed-funded startups raise Series A within 2 years—down from 30.6% for 2018 cohorts ([Carta/SaaStr, May 2025](https://www.saastr.com/carta-the-average-time-from-seed-to-series-a-has-hit-2-2-years-and-longer-from-series-a-to-series-b/))
- Time between rounds: Seed→Series A now **2.2 years** ([Carta Q3 2025](https://carta.com/data/state-of-private-markets-q3-2025/))
**YC Dynamics (2025)**
- Standard deal: **$500K ($125K for 7% + $375K uncapped SAFE)** ([Y Combinator official](https://www.ycombinator.com/deal))
- Summer 2025 batch: **160-169 startups**, 60%+ are AI companies ([Extruct.ai, Sep 2025](https://www.extruct.ai/blog/ycs25/))
- Spring 2025: **67 AI agent companies** (46.5% of batch) ([PitchBook, Jun 2025](https://pitchbook.com/news/articles/y-combinator-is-going-all-in-on-ai-agents-making-up-nearly-50-of-latest-batch))
- Median seed round: **$3.5M** (record high in 2025) ([Carta Q3 2025](https://carta.com/data/state-of-private-markets-q3-2025/))
**Pre-Revenue Funding Reality** ([Right Side Capital Management survey, July 2024](https://www.rightsidecapital.com/blog/report-how-are-pre-seed-and-seed-vc-firms-investing-in-2024), n=110 VCs)
- 46.3% of investors will fund pre-revenue at pre-seed
- 27.4% will fund below $150K revenue
- MVP + demand validation is sufficient for many
**What's Working Now**
- Revenue-based financing for companies with recurring revenue
- Non-dilutive grants (NSF SBIR/STTR, corporate programs)
- Accelerators with 0% equity (First Round PMF Method)
- Getting paying customers before fundraising
- Distribution-first approaches (Kellan Carter, Fuse VC: "Product won't win. Distribution will win.")
**What's Not Working**
- "Big launch" strategies
- Building in stealth for 6-12 months
- Raising on vision alone without customer validation
- Strategic partnerships before product-market fit
## Core Principles
### Paul Graham: Do Things That Don't Scale
**The Foundation**: All successful startups manually recruited early users.
**Why Founders Resist**
1. Shyness/laziness: Prefer coding to talking to strangers
2. Numbers seem small: "100 users won't matter"
3. Doesn't seem "startup-like": Want scalable systems immediately
**The Power of Compound Growth**
- 10 users + 10% weekly growth = 14,000 users in Year 1
- Continue = 2 million users in Year 2
- Focus on growth rate, not absolute numbers
**"Insanely Great" Pre-Revenue = The Experience**
- Wufoo: Handwritten thank-you notes to each new user
- Airbnb: Founders took professional photos of hosts' apartments
- Stripe: "Give me your laptop" instant setup (Collison Installation)
**Your Application**
- Respond to every customer inquiry within 1 hour
- Over-deliver on setup and onboarding
- Personally call users after first week
- Make signing up "one of the best choices they ever made"
### The Customer Validation Reality
**Don't Ask**: "Would you use this?" (Everyone says yes)
**Ask**: "Will you pay for this now?" (Shows real commitment)
**Red Flags (Fake Validation)**
- "I'd probably use it"
- "If it were free I'd try it"
- "That's an interesting idea"
- "Let me think about it"
**Green Flags (Real Validation)**
- "Yes, sign me up now"
- "When can I start?"
- "Can I pay annually for a discount?"
- Pulls out credit card unprompted
### The Mom Test Questions
From Rob Fitzpatrick's essential book:
**Instead of asking about your idea, ask about their life:**
1. **"Tell me about the last time you experienced [problem]"**
- Gets real stories, not hypotheticals
2. **"What have you tried to solve this?"**
- Shows if they care enough to act
3. **"What was the hardest part?"**
- Reveals real pain points
4. **"Why was that hard?"**
- Uncovers root cause
5. **"What would your ideal solution do?"**
- Customer-defined requirements
**Questions That Actually Validate:**
- "Would you like to be a beta tester and give me feedback weekly?"
- "Can I put you down for the first 10 paying customers when we launch?"
- "Who else should I talk to about this?"
## The First 100 Customers Framework
### Phase 1: Customers 1-10 (Manual Everything)
**Week 1-2: Identify and Research**
- Create spreadsheet of 50-100 ideal prospects
- Research each deeply: LinkedIn, company blogs, industry forums
- Join 5-10 communities where prospects discuss problems
- Document exact language they use to describe pain points
**Week 3-4: Personal Outreach**
- Send 10 highly personalized emails daily (not templates)
- Show you understand their specific problem
- Offer to solve it manually if needed (concierge MVP)
- Goal: Get 3-5 paying customers, even if you're doing work manually
**The Concierge MVP**
- Viaweb founders built stores manually for merchants
- Learned exactly what features were needed
- Could iterate in real-time while building
### Phase 2: Customers 11-30 (Find Patterns)
**Week 5-6: Document and Replicate**
- Which customer segment converts fastest?
- Document your sales conversations
- What objections? What resonates?
- Build 2-3 case studies from successful customers
**Week 7-8: Optimize Process**
- Double down on highest-converting channel
- Create standard onboarding process (keep high-touch)
- Build referral mechanism
- Goal: Achieve 10%+ weekly customer growth
### Phase 3: Customers 31-100 (Systematize)
- Write sales playbook: Exact pitch that works
- Document objections + responses
- Create onboarding checklist
- Build FAQ from customer questions
- Start testing second acquisition channel
## Qualifying Customers
### Michael Seibel's Framework
Ask 4-5 qualifying questions:
1. **"How are you solving this problem today?"**
- If "I'm not," it's not painful enough
2. **"How much time/money does this problem cost you?"**
- Quantify the pain
3. **"Have you looked for solutions?"**
- Active seeking = qualified buyer
4. **"What's your budget for solving this?"**
- Willingness to pay test
5. **"How soon do you need this solved?"**
- Urgency indicator
**Only pursue prospects who give the "right" answers**—those experiencing acute pain with budget and urgency.
## Runway Management
### The Survival Math
**Calculate Weekly**
- Cash in bank: $____
- Weekly burn: $____
- Current runway: ____ weeks
- Monthly revenue: $____
**Critical Thresholds**
- <3 months runway = point of no return
- <2 months = must plan orderly shutdown
- Never go insolvent—personal liability attaches
### Default Alive or Default Dead
From Paul Graham:
**Default Alive**: If revenue growth continues and expenses stay flat, will you be profitable before running out of money?
**Default Dead**: If you're default dead, you need to either:
1. Grow revenue faster
2. Cut expenses
3. Raise money
There is no fourth option.
### Extending Runway
**Revenue (Best)**
- Get paying customers ASAP
- Offer annual prepay (12 months for price of 10)
- Sell pilot programs to enterprise ($5K-25K)
**Cut Burn**
- What can you stop doing?
- What tools can you cancel?
- Can you reduce salary temporarily?
**Non-Dilutive Capital**
- Grants (NSF SBIR, corporate programs)
- Revenue-based financing
- Government programs
**Fundraising (Last Resort Pre-PMF)**
- Only after demonstrating traction
- Requires 5-10 paying customers minimum
## Common Founder Mistakes
### 1. Building Without Talking to Users (38% of failures)
"No market need" is the #1 reason startups fail ([CB Insights, 2021](https://www.cbinsights.com/research/startup-failure-reasons-top/)).
**The Trap**: Get glowing feedback for 9 months, launch to crickets.
**The Fix**: Ask "Will you pay now?" and track who converts.
### 2. Running Out of Cash (38% of failures)
"Ran out of cash" is the #2 reason startups fail ([CB Insights, 2021](https://www.cbinsights.com/research/startup-failure-reasons-top/)).
**The Trap**: Underestimate burn, overestimate fundraising timeline.
**YC's Warning**: Never let runway go below 3 months without a clear plan.
### 3. Premature Scaling (70% of failures)
Premature scaling is the most common cause of startup death ([Startup Genome Report](https://startupgenome.com/)).
**The Trap**: Hiring sales team before finding repeatable sales process.
**The Fix**: Founders do sales until process is documented and repeatable.
### 4. The "Big Launch" Fantasy
**The Trap**: Coordinating press coverage, expecting users to flood in.
**Paul Graham**: "Think of successful startups. How many launches do you remember? All you need is initial core users."
### 5. Building in Stealth
**The Trap**: "If I share my idea, someone will steal it."
**Michael Seibel**: "Launch now. Your motivating lie about what customers want becomes deadly if you don't test it fast."
### 6. Ignoring Unit Economics
**The Trap**: "We'll figure out monetization later."
**Reality**: Investors check CAC, LTV, gross margin by customer 50. If these don't work, you won't raise.
**Track from Customer 1:**
- Customer Acquisition Cost (CAC)
- Lifetime Value (LTV)
- Churn rate
- Gross margin (aim for 70%+ in software)
- Target: LTV/CAC > 3, payback < 12 months
### 7. Not Charging Early Enough
**The Trap**: "We need 1,000 users before we can charge."
**Jason Lemkin**: "Charge from day 1. Even $10/month tells you if the pain is real."
## Fundraising Hierarchy (Pre-Revenue)
### 1. Revenue (Best—Zero Dilution)
Get paying customers ASAP, even at non-scalable rates.
### 2. Non-Dilutive Grants (Excellent)
**Federal Programs**
- NSF SBIR/STTR: $200M+ annually, $250K-$1M
- DOE: Clean tech, energy innovation
- NIH: Healthcare, biotech
**Corporate Programs**
- Google for Startups: Cloud credits + cash
- Microsoft for Startups: $120K+ value
- AWS Activate: $100K credits
### 3. Accelerators (Good—0-7% Equity)
**Zero Equity**
- First Round PMF Method: 4-day intensive, free
- NSF I-Corps: $50K + training
**Low Equity**
- Y Combinator: $500K for 7%
- Techstars: $120K for 6%
### 4. Angel Investors (Moderate—10-20%)
$50K-500K typical for pre-revenue with first customers.
### 5. VC (Last Resort Pre-Revenue—20-30%)
2025 VCs require traction. Pre-seed needs 5-10 paying customers.
## Solo Founder Strategies
### Advantages
- AI as co-founder: Handle tasks that previously required teammates
- Faster decisions: No co-founder debates
- Full ownership: Maintain control and equity
- Lean execution: Lower burn rate
### Specific Tactics
**1. Build Your "Virtual Co-Founder" Network**
- 3-5 advisors who fill skill gaps
- Async communication (Loom, voice memos)
- Founder communities (YC Startup School, indie hackers)
**2. Ruthless Scope Reduction**
- ONE customer segment only
- ONE core feature exceptionally well
- ONE channel until it's working
**3. Time Blocking**
- 40% building (coding, design)
- 40% customer development (sales, support, interviews)
- 20% operations (finance, admin)
**4. Leverage, Don't Build**
- No-code tools before coding
- Fractional specialists for non-core work
- Buy infrastructure (Stripe, Plaid, Twilio)
**5. Combat Isolation**
- Weekly co-working with other founders
- Monthly advisor check-ins
- Daily async updates in communities
## Contrarian Takes: What Conventional Wisdom Gets Wrong
### "You need a co-founder"
**Reality**: Solo founders are 2.6x more likely to own ongoing, for-profit ventures than teams of 3+ co-founders ([Greenberg & Mollick 2018, Wharton/NYU](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3107898)). Of 6,191 startups with successful exits (IPO or M&A), slightly more than half had solo founders.
**The paradox**: Solo founders were 35% of all startups in 2024 but only 17% of those closing VC rounds ([Carta 2025](https://carta.com/data/founder-ownership/)). VCs have bias, not data.
**Better question**: "Can you hire for skill gaps instead of giving away equity?"
### "Build a great product and users will come"
**Reality**: Distribution advantage is increasingly more important than product differentiation, especially as AI commoditizes products faster.
**Justin Kan** (Twitch): "First time founders focus on product, second time founders focus on distribution."
**Eric Bahn** (Hustle Fund): Secured $80K from 6 clients BEFORE building product.
### "Move fast and break things"
**Reality**: Users in 2025 won't tolerate subpar experiences. Ship small scope, high quality.
**Better**: Velocity (speed + direction) matters more than speed alone.
### "Raise as much as possible"
**Reality**: Premature scaling remains the leading cause of startup death. Time between funding rounds hit decade highs in 2024.
**Better question**: "What's the minimum capital needed to reach the next meaningful milestone?"
### "You need revenue to raise pre-seed"
**Reality**: 46% of pre-seed investors will fund pre-revenue. MVP + demand validation is sufficient for many.
**What you actually need**: 5-10 paying customers OR strong evidence of demand.
### "AI startups are sure bets"
**Reality**: While AI captures 50%+ of VC dollars, concentration means most AI startups still fail. Defensibility matters more than differentiation.
**Better question**: "What's your moat when foundation models do this natively in 12 months?"
### "Never give advice, only ask questions"
**Reality**: Pure non-directive coaching frustrates founders who lack information. Know when to switch modes.
**Better**: 80% questions, 20% direct advice—and signal the mode shift explicitly.
### "Long-term coaching relationships are best"
**Reality**: Solution-focused research shows 4-10 sessions is optimal. After that, dependency develops.
**Better**: Set end dates and transition to peer accountability.
### Distribution-First vs. Product-First
**When distribution-first works:**
- Products are undifferentiated
- Founder has existing audience
- Regulatory advantage exists
- Capital requirements are high
**When product-first works:**
- Technical differentiation is the moat
- Market is unproven
- Novel tech requires validation
- Viral mechanics are possible
## Product-Market Fit Signals
### Signs You're Getting Close
1. Customers use product weekly without prompting
2. Retention curve flattens (week 4-8)
3. Customers refer others unprompted
4. Revenue grows 10%+ monthly
5. You can predict why customers buy
6. Sales cycle shortening
7. Inbound interest increasing
### Signs You're NOT There
1. Sign up but don't activate
2. Churn >10% monthly (B2B)
3. Sales require heavy discounting
4. "Interesting" but don't use regularly
5. Each customer wants different features
6. Linear growth, not exponential
7. You dread customer calls
### The PMF Test
**Rahul Vohra (Superhuman)**: Ask users "How would you feel if you could no longer use this product?"
- <40% "very disappointed": No PMF
- >40% "very disappointed": You have PMF
- Target 50%+ for strong PMF
## Prioritization Framework
### The Eisenhower Matrix for Founders
**Do First (Urgent + Important)**
- Sales calls with qualified prospects
- Customer support for paying users
- Fixing bugs that block usage
- Payroll/critical obligations
**Schedule (Important, Not Urgent)**
- Customer development interviews
- Building next MVP iteration
- Documenting sales process
- Advisor check-ins
**Delegate (Urgent, Not Important)**
- Bookkeeping (use Pilot, Bench)
- Design (Fiverr for non-critical)
- Admin (virtual assistant)
**Eliminate (Neither)**
- Networking events (unless customers attend)
- "Thought leadership" content
- Perfect website/branding
- Non-critical feature requests
### The "Hell Yes or No" Filter
Before saying yes to anything, ask:
1. Does this directly get me customers or revenue this month?
2. Does this extend my runway?
3. Does this validate/invalidate a core hypothesis?
If not "hell yes" to at least one, say no.
## Mental Health & Resilience
### The Reality (2025 Survey Data)
- **54%** experienced burnout in past 12 months ([Sifted, Feb 2025](https://sifted.eu/articles/founders-mental-health-2025), n=138)
- **75%** experienced anxiety ([Sifted, Feb 2025](https://sifted.eu/articles/founders-mental-health-2025))
- **66%** considered leaving their startup ([Sifted, Feb 2025](https://sifted.eu/articles/founders-mental-health-2025))
- **84%** cite financial concerns as #1 stressor ([MaRS/District 3, Mar 2025](https://www.marsdd.com/media-centre/new-survey-exposes-critical-mental-health-crisis-among-canadian-startup-founders/))
- Only **12%** seek professional mental health support ([MaRS/District 3, Mar 2025](https://www.marsdd.com/media-centre/new-survey-exposes-critical-mental-health-crisis-among-canadian-startup-founders/))
- Women founders: **65%** burnout vs 42% men ([MaRS/District 3, Mar 2025](https://www.marsdd.com/media-centre/new-survey-exposes-critical-mental-health-crisis-among-canadian-startup-founders/))
### Non-Negotiables
**Sleep**: 7-8 hours (decision quality depends on it)
**Exercise**: 30 min, 4x/week minimum
**Boundaries**: No work after 8pm, one full day off/week
**Connection**: Protect time with people who recharge you
### Warning Signs
**Physical**: <6 hours sleep, frequent illness, weight change
**Emotional**: Cynicism, irritability, can't enjoy anything
**Cognitive**: Can't focus, indecisive, making mistakes
If 3+ are true: Take 3-day break, talk to therapist, reach out to mentor.
## Key Reading
- **Paul Graham**: "Do Things That Don't Scale", "Default Alive or Default Dead"
- **Rob Fitzpatrick**: The Mom Test
- **YC Startup School**: Free online course + community
- **Indie Hackers**: indiehackers.com (solo founder community)

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# Coaching Question Banks
Categorized questions for every founder coaching scenario.
## Opening Questions
### Start Any Session
- "What's on your mind?"
- "What would you like to focus on today?"
- "What would make this conversation most useful for you?"
- "What's the most important thing we should discuss?"
### After Any Response
- "And what else?" (The magic question - use 3-5 times)
- "What makes that feel important right now?"
- "Say more about that."
### Getting to the Real Issue
- "What's the real challenge here for you?"
- "If you could only solve one thing today, what would it be?"
- "What's beneath that?"
## Strategic Decisions
### Clarifying the Decision
- "What are you actually deciding between?"
- "What would you need to know to make this decision confidently?"
- "What's the cost of not deciding?"
- "When does this decision need to be made by?"
### Examining Options
- "What are all the options you see?"
- "What else?" (repeat 3-5 times)
- "If you couldn't fail, which would you choose?"
- "What would you advise a friend to do?"
- "What's the option you're afraid to consider?"
### Testing Assumptions
- "What are you assuming about Option A?"
- "What would need to be true for Option B to work?"
- "What would change if that assumption were wrong?"
- "What evidence supports your current thinking?"
- "What would a skeptic say?"
### Evaluating Trade-offs
- "What are you optimizing for?"
- "If you say yes to this, what are you saying no to?"
- "What's the best case? Worst case? Most likely case?"
- "What would you regret not trying?"
- "How would you explain this decision to yourself in a year?"
### Building Confidence
- "What criteria matter most here?"
- "What information would help you decide?"
- "How will you know if it was the right call?"
- "What's the smallest version of this you could test?"
## When Founder Is Stuck
### Identifying the Block
- "What's stopping you?"
- "What are you avoiding?"
- "What feels heavy about this?"
- "Where do you feel most stuck?"
- "What would have to change for you to move forward?"
### Shifting Perspective
- "What would you do if you had unlimited resources?"
- "What would [person they admire] do in this situation?"
- "If you knew you couldn't fail, what would you try?"
- "What's the simplest possible next step?"
- "What would you do if you only had one month left?"
### Finding Past Solutions
- "When have you faced something similar? What did you do?"
- "Tell me about a time you overcame a similar challenge."
- "What's worked for you before in situations like this?"
- "What strengths do you have that could help here?"
### Breaking the Pattern
- "What's one thing you could do differently this time?"
- "What's the smallest experiment you could run?"
- "What if you tried the opposite of what you've been doing?"
- "What would happen if you just did nothing?"
## Prioritization
### Identifying What Matters
- "If you could only accomplish one thing this week, what would it be?"
- "What would move the needle most?"
- "What's urgent vs. what's important?"
- "What would happen if you didn't do any of these things?"
### Creating Focus
- "What are you saying yes to that you should say no to?"
- "What would a ruthless prioritizer do here?"
- "If your runway were halved, what would you cut?"
- "What's the one thing that, if you did it, would make everything else easier?"
### Managing Trade-offs
- "What's the cost of doing everything?"
- "What balls can you let drop?"
- "What's good enough vs. what needs to be perfect?"
- "Who else could do this?"
## Customer Development
### Understanding the Problem
- "What problem are you solving?"
- "How do you know this is a real problem?"
- "Who has this problem most acutely?"
- "How are they solving it today?"
### Validating with Users
- "How many users have you talked to this week?"
- "What did you learn?"
- "What surprised you?"
- "What did they say in their own words?"
### Getting to Truth
- "What would prove you wrong?"
- "What would make someone pay for this?"
- "What are users actually doing vs. what they say they want?"
- "What's the strongest objection you've heard?"
### Building Confidence
- "How many people would need to say yes for you to be confident?"
- "What's the smallest experiment to test this?"
- "What would 'enough' validation look like?"
## Fundraising
### Timing
- "Why raise money now?"
- "What would you do with the money specifically?"
- "How does this accelerate vs. bootstrap?"
- "What happens if you don't raise?"
### Preparation
- "What's your story?"
- "Why you? Why now? Why this?"
- "What's the biggest risk, and how are you addressing it?"
- "What milestones would you hit with this round?"
### Strategy
- "Who are the right investors for this stage?"
- "What's your target? What's your walk-away?"
- "How many conversations do you need to get one yes?"
- "What's your plan B if this round doesn't close?"
### Alternatives
- "What would you do if you couldn't raise?"
- "How could you extend runway without dilution?"
- "What grants or non-dilutive options exist?"
- "Could you get to revenue faster instead?"
## Runway & Cash
### Understanding the Situation
- "What's your current runway?"
- "What's your monthly burn?"
- "What's driving the burn?"
- "When did you last calculate this?"
### Creating Options
- "How could you cut burn by 30%?"
- "What could you charge for today?"
- "What would you do if runway were half what it is?"
- "What's the path to breakeven?"
### Making Decisions
- "What would you cut if you had to choose?"
- "What's the minimum viable team?"
- "What's essential vs. nice to have?"
- "What would a default alive version look like?"
## Team & Hiring
### Timing
- "Why hire now vs. wait?"
- "What work isn't getting done that this person would do?"
- "Could you outsource this instead?"
- "What's the cost of not hiring?"
### Role Definition
- "What does success look like in 90 days?"
- "What skills are absolutely required vs. nice to have?"
- "What would this person do in their first week?"
- "How would you know they're performing well?"
### Fit
- "What kind of person thrives at this stage?"
- "What values matter most?"
- "What would be a red flag?"
- "How will you evaluate culture fit?"
### Co-Founder
- "What would a co-founder do that you can't?"
- "What's the risk of staying solo?"
- "What qualities would complement yours?"
- "How would you structure the relationship?"
## Product Development
### Direction
- "What's the most important thing to build next?"
- "How do you know that's what users want?"
- "What's the smallest version that would be useful?"
- "What would you cut if you had to ship in half the time?"
### Quality vs. Speed
- "What's good enough for this stage?"
- "What are you over-engineering?"
- "What bugs can you live with?"
- "What would embarrass you vs. what would just be imperfect?"
### Technical Debt
- "What's slowing you down?"
- "What would happen if you didn't fix this?"
- "What's the cost of fixing it now vs. later?"
- "Is this actually blocking progress, or is it bothering you?"
## Fear & Self-Doubt
### Acknowledging the Emotion
- "What are you afraid of?"
- "What's the worst that could happen?"
- "And then what would happen?" (Keep asking)
- "How bad would that actually be?"
### Finding Evidence
- "What evidence contradicts your fear?"
- "When have you overcome something like this before?"
- "Who believes in you? What do they see?"
- "What would you tell a friend who felt this way?"
### Building Courage
- "What would you attempt if you knew you couldn't fail?"
- "What's one small step you could take despite the fear?"
- "What's the cost of not acting?"
- "What would you regret not trying?"
### Reframing
- "What could this experience teach you?"
- "How might this make you stronger?"
- "What's the opportunity hidden in this challenge?"
- "What would future you thank you for doing now?"
## Burnout & Overwhelm
### Assessing the Situation
- "How are you really doing?"
- "When did you last feel energized?"
- "What's draining you most?"
- "What are you not making time for?"
### Creating Space
- "What would happen if you took a day off?"
- "What could you stop doing?"
- "What would you do if you weren't doing this?"
- "Who could help carry some of this?"
### Finding Renewal
- "What recharges you?"
- "What did you used to enjoy that you've stopped doing?"
- "What would feel like a treat right now?"
- "What would 'sustainable' look like for you?"
### Getting Support
- "Who can you talk to about this?"
- "What support do you need?"
- "What would help right now?"
- "Have you considered talking to someone professional?"
## Accountability
### Setting Commitments
- "What will you do?"
- "When exactly will you do it?"
- "How will you know it's done?"
- "On a scale of 1-10, how committed are you?"
- "What would make it a 10?"
### Anticipating Obstacles
- "What might get in the way?"
- "What's happened before when you tried this?"
- "How will you handle that?"
- "What's your backup plan?"
### Following Up
- "What did you commit to last time?"
- "What actually happened?"
- "What did you learn?"
- "What got in the way?" (If incomplete)
- "What will you do differently?"
## Closing Questions
### Consolidating Learning
- "What was most useful for you today?"
- "What are you taking away from this conversation?"
- "What shifted for you?"
- "What will you do differently as a result?"
### Building Forward
- "What's your commitment for the next 48 hours?"
- "What support do you need?"
- "What should we talk about next time?"
- "Anything else we should cover before we wrap?"
## Meta Questions
### About the Coaching
- "What would make these conversations more useful?"
- "What kind of support is most helpful right now?"
- "What am I missing?"
- "What question should I be asking that I'm not?"
### About Thinking Process
- "How are you approaching this decision?"
- "What's your thinking process here?"
- "What questions are you asking yourself?"
- "What would help you think more clearly?"
### About Patterns
- "What patterns do you notice in yourself?"
- "When do you do your best thinking?"
- "What triggers you to get stuck?"
- "What have you learned about how you work best?"