Ever dreamed of founding a company? I researched Reddit and various forums to see what founders say they wish they had known earlier.
If you ever decide to forego a “real” job in favour of starting your own company, you’re bound to make at least a few rookie mistakes. And honestly, the scariest part isn’t the mistakes, it’s the fear that you’re not cut out for this. Most first-time founders quietly wrestle with the idea that they might fail spectacularly, or that they simply don’t have enough confidence, experience, or “business instincts” to make it work.
Most founders, in hindsight, agree that there are some things you’re better off being prepared for. Hindsight is definitely 20/20, especially when you’re the boss.
1. I wish I had documented everything sooner
One founder on r/startups admitted something surprisingly emotional:
“My biggest regret: I’ve worked for almost 3 years full-time on my business without documenting much… I only have a handful of photos and videos from those early days.”
We obsess over dashboards and metrics… meanwhile, the actual journey disappears.
Documenting isn’t for marketing; it’s for your sanity. It’s proof you’re moving, even when it feels like nothing’s happening.
2. If you aren’t embarrassed, you launched too late
My friend, who is a local founder, recently stated to me that she spent almost two years refining her platform while under the radar of the public, only to watch a competitor release a beta version of their product (including defects) and effectively snatch the market away from her.
This follows one of the very clear lessons shared on r/startups:
“The hardest truth: Ideas are worthless without execution.”
You can baby an idea forever, but someone else is already out there building. Imperfectly. Publicly. Bravely.
3. Trying to do everything myself was a disaster
This regret came up everywhere from Reddit to café chats.
“I was intent on doing everything myself… learning software development, collecting survey data, writing proposals, developing marketing strategy…”
Once they finally hired a senior dev and a marketer, they said:
“I feel like the least qualified person on the team, but I couldn’t be more proud.”
Trying to be a one-person army isn’t noble; it’s a shortcut to burnout.
4. VALIDATE your damn idea before building
One of the more frustrated posts came from r/EntrepreneurRideAlong:
“VALIDATE your damn idea before building.”
Many of the founders who shared their experiences in that thread stated that they had wasted months or even years on product features that no customer wanted.
The validation advice found on the Internet is probably some of the best advice I have ever seen: Don’t ask, “Would you buy this?” Ask, “Can you put down a deposit right now?”
Wallets don’t lie.
5. Distribution is the most important thing about the product
Many people believe that if a product is built, customers will show up to buy it; this is known as the “Field of Dreams” fallacy.
As one entrepreneur recently wrote on Reddit: “I created something awesome, polished every detail, brought it to market, and then … Nothing!”
A product does not automatically have an advantage over other products; rather, visibility gives you an advantage over the competition.
If you are not a salesperson, find a salesperson who shares your passion for the industry and can bring your product to market; otherwise, your innovative creation will be just another cool piece of technology collecting dust.
6. Don’t hire your mates
Because even the best friendships can become fragile when the demands of running a business collide with human emotion and hard decisions. As this post from LinkedIn puts it: “Ever have to fire your best friend? … If you’re serious about growing a business, this is one of the hardest, and most important, skills a founder has to develop.”
In the early days, hiring friends feels natural and comfortable. But as the company scales, pressures mount, roles evolve, and growth becomes non-negotiable. What started as camaraderie can quickly turn into conflict, resentment, or guilt.
If you care about the long-term health of the venture, you need to accept one difficult truth: the person you trust most isn’t always the person the company needs next.
7. The mental health struggle is real
One of the toughest posts came from Indie Hackers: “I lost $38,676… I feel that I have lost a year of my life.”
This founder wasn’t defeated by competition. They were defeated by loneliness, exhaustion and the emotional spiral every founder knows too well.
Almost every Aussie founder I spoke to echoed this: burnout isn’t a “nice to have” discussion, it’s a survival one.
You are the most expensive, irreplaceable part of your company. Maintenance is not optional.
8. Overnight success usually takes about 7 years
Founders described the journey like this:
- The initial excitement
- The trough of sorrow
- The slow, painful climb
- The tiny wins that keep you going
If you think you’ll be on a yacht in 18 months, you’re dreaming. Startups are a marathon and half the time you’re running in wet gumboots.
9. Get your vesting sorted
One founder learned this the brutal way:
“My co-founder quit after six months to go backpacking. He walked away with 50% of the equity because we didn’t have a vesting schedule.”
Vesting is your prenup. Unromantic? Yep. Necessary? Absolutely.
Without it, early exits, disagreements, or even prolonged absences can leave the remaining founders vulnerable, both financially and operationally. A clear vesting schedule ensures that equity rewards commitment and effort, protecting the company and everyone who’s truly building it.
10. Focus on a niche
When most people start a business, they think big. There’s nothing wrong with that from a goals perspective, but not being hyper-focused on serving a small audience when you’re a start-up can actually inhibit growth. Many people try to sell too many services or solutions to too many people, rather than a few offerings to a very specific niche. By being a niche superstar, you can grow even quicker.
11. Be Ready to Adapt
The company you are running is inevitably about 10,000% different from the original idea or concept you began with. It’s because the best entrepreneurs and business owners are Darwinian in that they adapt to the changing market conditions, or they die. Expect change and embrace the process; every company changes, but it’s mostly how you adapt to that change that determines success.
Starting a company is messy, hard, and full of surprises. You’ll make mistakes, feel exhausted, and wonder if it’s worth it, but you’ll also learn, grow, and achieve things you never thought possible. Keep going, pay attention to the little things, and take care of yourself along the way.
And despite all the chaos? Not a single founder said they’d go back to a cosy 9-to-5.
