Newly Expanded: The Information's Creator Economy Database

The Advice Founders Really Need to Hear

It has been the season of graduation speeches, virtual graduation speeches, essays pondering graduation speeches one would have given if asked—and more.

And reading all that advice prompted me to reflect on the good and bad counsel I’ve received over the years.

One piece of bad advice immediately jumped out—and it is pretty ubiquitous. Indeed, many workplace performance cultures are centered around it. Over time, I’ve come to believe that it is the opposite of what many leaders—particularly young and inexperienced ones—need to hear.

The bad advice is to “focus on your strengths.” It’s what your investors and advisers tell you when you are starting a company. It’s what, even before that, your teachers and managers emphasize in your performance reviews to make you feel good. I’d guess that there are very few successful people, in any field or role, who do not deeply understand their strengths—because they’ve been reminded of them again, again and again, in many cases since they were very young. 

But what about their weaknesses? Maybe a few people pointed out some areas in need of improvement along the way. If you are a high achiever, though, people don’t usually bombard you with a list of things you are bad at. And the higher you rise in an organization, the less likely you are to get honest feedback about areas where you perform poorly—both because people are afraid to share them and also because individual direct reports, or even board members, may not have a full enough picture of the company and its challenges to accurately assess you. 

The trouble is, it’s pretty clear that compensating for your weaknesses by hiring other excellent people to fill the gap basically marks the difference between a good leader and a great one. In other words, if you can’t identify and build around your weaknesses, you are doomed in the long term.

That puts a huge burden on leaders to be self-aware enough to identify their own weaknesses, take whatever feedback they do get, assess it and act upon it.

This is, of course, personal for me. I spent most of my career listening to positive feedback. Now, I get plenty of critical feedback from all corners of the world along with the good, and I’m grateful for it. But distilling that all down to a very honest picture of my weaknesses, and figuring out how to compensate for them while predicting how they will affect my company years down the line—that’s a challenge, and one I wish I had prepared for earlier. I can rely on many trusted advisers and people I work with. But assessing what I’m not good at comes far less naturally than doing what everyone has been telling me to do for decades: focus on my strengths. 

I was lamenting about this recently to a friend, who had a different view. He said my weaknesses weren’t weaknesses—just “things I hadn’t focused on being good at yet.” If that isn’t Silicon Valley optimism in a bottle! 

I guess in some ways I agree with that point of view. There are so many things about running a company I now find easy and straightforward that I found so difficult in the early days. Experience helps a lot. But so does knowing oneself—the good and the bad—as early as possible.

Let’s spread that advice to all the young people who need to hear it. 


Jessica Lessin founded The Information in 2013 after reporting on Silicon Valley for eight years for the Wall Street Journal. She writes a weekly column about all things tech, media and the wild ride both industries are in for. She can be found on Twitter at @jessicalessin.
Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive Asia
ByteDance’s Stock Value Falls by 20% in Secondary Sale After China Crackdown
Photo by Bloomberg
Is TikTok cheap? Some investors think so and are buying private shares of TikTok owner ByteDance from existing investors at prices that value it at a steep discount compared to trades from earlier this year. Recently, the family office of a Middle Eastern billionaire struck a deal in the secondary market to buy shares that valued closely held ByteDance at $320 billion, and a hedge fund bought a...
Latest Briefs
 
Execs from TikTok, Snap, YouTube Testify At Hearing on Youth Safety
Tesla Hits $1 Trillion Market Cap After Deal with Hertz
Tiger Global Raises $8.8 Billion of $10 Billion Fund Target
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Data Point
How Creator Economy Investments Could Hit $5 Billion This Year
Facebook wants to talk about its ties to creators. So do Chipotle, Disney and Stripe. The upswell of interest in people earning a living from their online followers means it has never been a better time for founders building startups that serve creators.
Data Point Venture Capital
Andreessen Horowitz Investment Staff Grew 170% in Four Years
One of the running jokes among Silicon Valley venture capitalists is that, eventually, all of them will become partners at VC firm Andreessen Horowitz.
Art by Mike Sullivan
Exclusive Media/Telecom Facebook
New Facebook Storm Nears as CNN, Fox Business and Other Outlets Team Up on Whistleblower Docs
It’s not often that major news organizations coordinate to sift through a large trove of leaked company documents and agree not to publish stories about them until a certain date.
Kyle Samani, Multicoin Capital co-founder and managing partner. Screenshot via YouTube. Art by Mike Sullivan.
Exclusive Crypto Venture Capital
Multicoin Capital Targets $250 Million for Third Crypto VC Fund
Multicoin Capital, which operates a hedge fund focused on crypto tokens, is planning to raise $250 million for its third venture fund to back crypto startups, according to fundraising materials viewed by The Information.
Outside an Apple store in New York. Photo by Bloomberg.
Exclusive Apple Policy
Apple Very Likely to Face DOJ Antitrust Suit
Apple so far has avoided the worst outcome in its U.S. legal battle with Epic Games, but its antitrust woes remain.
Illustration by Josh Brill
Exclusive Crypto Venture Capital
No Longer Just Crypto Curious, Sand Hill Road Investors Get Blockchain Fever
For years, the most avid investors in crypto startups have been firms that specialize in the category—with the notable exception of Andreessen Horowitz, the Silicon Valley venture capital firm that got crypto religion early.