Lessons from Mark Suster

The Entrepreneur's Playbook: 50 Enduring Quotes and Learnings from Mark Suster

Mark Suster, a two-time entrepreneur turned prominent venture capitalist at Upfront Ventures, has long been a guiding voice for founders navigating the turbulent waters of the startup world. Through his widely-read blog, "Both Sides of the Table," Suster has shared a wealth of candid, practical, and often contrarian advice.

On the Reality of Entrepreneurship

"Individuals don't build great companies, teams do." [1]
"Being an entrepreneur is sexy... for those who haven't done it." [1]
"Good entrepreneurs have a chip on their shoulders. They are out to prove something." [1]
"I usually tell people that everything I learned about being an entrepreneur I learned by f'ing up at my first company." [1][2]
"The sign of a good entrepreneur is the ability to spot your mistakes, correct quickly, and not repeat the mistakes." [2][3]
"No, it's not as bad as working in coal mines. But it is quite the roller coaster and the stress is real." [3]
"Remember that if you choose to be an entrepreneur or to at least try—it's stressful for everybody who does it. Your competitors have just as much angst as you do." [3]
"Tenacity is probably the most important attribute in an entrepreneur. It's the person who never gives up—who never accepts 'no' for an answer." [3]
"Passion isn't enough. You need a set of innate skills that differentiate you from the thousands of others who set out on your similar journey." [4]
"Entrepreneurship is not about the things you know; it's about the things you don't know that you don't know." [4]

On Strategy and Execution

"Entrepreneurs make fast decisions and move forward knowing that at best 70% of their decisions are going to be right. They move the ball forward every day." [1][5]
"Don't be afraid to pivot, but always be sure you know why you're pivoting." [4]
"In a strong wind, even turkeys can fly." [1][5] This quote serves as a cautionary tale about not getting carried away by market hype.
"Most serial entrepreneurs who are working on an early-stage concept know that whatever they're working on in Year 1 is likely to be dramatically different than what they're doing in Year 5." [3]
"You can read lots of books or blogs about being an entrepreneur but the truth is you'll really only learn when you get out there and do it." [3]
"It's not about having an idea; it's about turning that idea into a reality." [4]
"An innovation that is disruptive allows a whole new population of consumers access to a product or service that was historically only accessible to consumers with a lot of money or a lot of skill." [6]
"Don't Market a Bad Product — Perhaps the most important lesson for first-time entrepreneurs is that you can't have great marketing for a bad product." [7]
"Don't Blow Your Wad Early — There is a temptation of startups to announce that they're “first” at something so they rush to market with announcements." [7]
"You're most vulnerable right after you've won the deal." [8]

On Fundraising and Venture Capital

"Invest in Lines, Not Dots." This is one of Suster's most famous adages, advising founders to build relationships with VCs over time rather than just pitching them once. [3][5]
"Choose your investors carefully. There are many bad investors out there." [3][4]
"If you can't get an intro to a VC, hang up your cleats now. You're done, GAME OVER." [5]
"I believe that integrity and honesty are very important to most venture capital investors. Unfortunately, I don't believe that they are required to make a lot of money." [3][4]
"The best way to make money in startups is not to start them." [4] A reminder of the high-risk nature of venture-backed companies.
"VC is like a pimple on the butt of the whole world of investing. It's such a tiny, tiny, tiny thing that we do here that we think is so self-important." [9]
"Why Raising Too Much Money Can Harm Your Startup." Suster has written extensively on the perils of over-funding, which can lead to a lack of discipline and premature scaling. [6]
"Control your process – Don’t let investors run the timeline." [5]
"Always be raising – Even when you’re not actively pitching." [5]
"The more money you give a startup the faster they grow." [10] Suster presents this as a common misconception in bull markets.

On Building Relationships and Teams

"Start early, build relationships, make them a part of your business." [3][4]
"Trust your instincts—they will serve you well as an entrepreneur." [3][4]
"Hire your co-founders." Suster advises doing the initial work of validating an idea and forming the company before bringing on co-founders. [9]
"Being a great partner is as important as being smart or being right." [11]
"Being a great partner is about shaking hands on a deal and knowing that you truly have a deal — even if it has to be penned by lawyers later." [11]
"Trust isn't something you rebuild — once it's broken it's lost." [11]
"Build Relationships — Many startups make the mistake of thinking that they simply approach a journalist any time they have a story and get coverage. It doesn't work that way." [7]
"The world works in a pull direction not a push direction." It's often more effective to have someone from another company pull you up than to push for opportunities within your current one. [9]
"50 Coffees." A networking strategy where you reach out to one new person each week for a short, informal meeting to learn from their experiences. [9]
"Inclusion in the hiring process means hiring women, introverts and people that don't fit the traditional chest-pounding VC mold." [9]

On Mindset and Learning

"Persistence, persistence, persistence. I'm surprised how few entrepreneurs follow up." [1]
"I hate losing. I really hate losing. But you need to embrace losing if you want to learn." [3]
"The exception does not prove the rule." [1][5]
"Good judgment comes from experience, but experience comes from bad judgment." [8]
"The longer I do this the more humbled I become." [10]
"It's a Marathon, Not a Sprint — Some startup teams I speak with try to lump a bunch of announcements all into one release to try and have more effect. Don't do this." [7]
"You always have too much technical debt, too many problems, staff members quitting, not enough capital, customer complaints, etc. That is EXACTLY how your competitors feel, too." [7]
"I had no plan for life once so ever." Suster emphasizes that success can come from following your instincts rather than a rigid plan. [9]
"Being a great partner is knowing that sometimes people lose their temper and not judging them beyond the incident." [11]
"There are two types of people in the world: those who see a problem and those who see an opportunity." [4]

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