Building In Public
Image Credit: HubSpot
We’ve all heard it before… ‘Building in public’ is thrown around like any other phrase. It stands as a beacon of transparency amidst the murky waters of entrepreneurship. But what does it truly entail? Does it mean I’m metaphorically in the middle of Time Square laying brick to build my empire? In some brick and mortar cases, uhhh yes. Building in public isn’t for everyone however, but it can serve as a potent catalyst for forging connections with future investors, partners, and talent for those who can harness it’s true potential.
This ethos of openness, often synonymous with startups of all stripes—be they B2B, D2C, or SaaS—embraces the notion that sharing the journey, wounds and all, can yield invaluable insights and opportunities. The dynamic of a startup is vast and convoluted. There are many steps - from raising investor money, to building infrastructure, gathering leads, customer acquisition AND retention… this is all before you even see a cent of profit. All of this information is typically private and discussed amongst the founders. However, to build in public, is to have transparency throughout the process.
A true commitment to transparency is a willingness to divulge not just the triumphs, but also the stumbles and setbacks along the way. My biotech start-up, now called, Syber Biomaterials, started with negotiations with Procter & Gamble trying to optimize a single product (biodegradable toothbrush) from the ‘Proof of Concept’ phase to shelf ready. We ultimately didn’t close that deal because our systems were not equitable enough to conjure profits within their already established systems. Total face plant.
Yet, in the aftermath of defeat, there lies opportunity. The feedback garnered from P & G, though humbling, served as fuel for adaptation and growth. It's a cliffhanger moment, leaving people following the story of Syber on the edge of their seats, eager to witness the next chapter. This is human nature. To follow narrative is why we read books and watch film. We’re engaged in the fabric of the story - the protagonist, antagonist, the plot, the setting, the feeling…all of it. For founders like our protagonist, storytelling isn't just a means of engagement—it's a strategic imperative. The ability to craft a compelling narrative draws in an audience hungry for authenticity and insight. And in a world where every investor dollar counts, the power of storytelling can't be overstated.
As the journey unfolds, the non-existent pressure of public scrutiny serves as both a burden and a blessing. It's a constant reminder of the stakes at hand, driving the founder to new heights of determination and accountability. I say to myself, “I better not let Bill down, he liked my newsletter post on Substack, I have to do this with him in mind.” In all seriousness though, with each update, each shared anecdote, the bond between me, the storyteller and audience grows stronger, propelling Syber ever closer to our goals.
The power of storytelling knows no bounds. This very newsletter and transparency on social media has allowed our cap table to grow by a potential $200,000. That might not seem like a lot, but with my pre-seed round goal of $1M, any little bit counts.
So, stay tuned for the next installment, as our intrepid protagonist founder tackles the intricacies of cap table structuring— That’ll be another post.