Back to Berlin 🇩🇪 from Tallinn 🇪🇪 after Latitude59.
I think I talked more in the last six days than in the last six months 🙈 (likely very true).
What I Wanted to Get Out of This Week
As I was flying into Tallinn, I wrote down the following in my Apple Notes about what I wanted to get out of this week:
1. Understanding Estonia's Startup Ecosystem
I wanted to understand what the startup ecosystem around Tallinn and Estonia is like. For some reason, they are doing some things very well when it comes to encouraging entrepreneurship. I have read about this. It even convinced me to register our legal entity there and run our business from there. But I wanted to experience it in person and see what the ecosystem is actually like.
2. Learning the Physics of Growth Beyond 10k MRR
My cofounder and I are first-time founders. In many ways, in retrospect, we have stumbled our way into building a bootstrapped, profitable, and stable 10k MRR business. If you let me start from scratch, I think we could very likely repeat this again. I have a good intuition now for this stage of the journey.
So what next? I don't know. Beyond this checkpoint, the path ahead feels very very foggy. We don't have an intuition for growing a business beyond this checkpoint.
Do we raise money? If yes, when and how does funding work? What relationships do you build? From the perspective of VCs and angel investors, how do they look at a company? I wanted to learn the physics and mechanics of this landscape so I can develop a gut instinct for it and be prepared when it actually comes to pass.
3. Scouting Our Next City
Also, in general, I am scouting for the next city for us to live in. So I wanted to experience Tallinn and see what it's like to live there (apart from working).
The Reality: Dense and Exhausting
It was so dense and frankly exhausting. Fifteen one-on-one meetings per day with VCs, angels, plus conferences and talks.
But it was very useful. My Apple Notes is full of dictation and meeting notes. I intend to slowly review and digest them, and write blogs about them (more for myself than anyone else). I will share once I process everything.
Mission Accomplished
Overall, all three points are checked in my opinion, so it was worth it. I can recommend going there next year if you are in a similar situation.
What I Also Learned About Myself
I Don't Really Enjoy This Part of Entrepreneurship
On the fourth day, I was locked in my hotel room for four hours because I was so exhausted. I wanted to recharge before I wrapped up the last two days and meet anyone else.
I don't see myself doing this kind of talking voluntarily. I would rather build product locked in with my Mac talking to clients. But after going through this, I realized how important it is to do it once in a while.
The Importance of Removing Blinders
As a (technical) cofounder, you have so many blinders. Although it was not enjoyable, it was important to go there, remove the blinders, and see how VCs and angels look at your company from their point of view.
This perspective is very useful for different, sometimes surprising, reasons (I will write about this soon). So I plan to do this every three months from now on.
Sometimes the most valuable experiences are the ones that push you outside your comfort zone. Even if you don't enjoy the process, the perspective you gain can be invaluable for your growth as a founder.
What's Next
I'm planning to digest all my notes and share more detailed insights about:
- The mechanics of fundraising from a VC perspective
- Estonia's unique approach to fostering entrepreneurship
- How to maintain momentum while preserving your energy as a founder
Stay tuned for more detailed posts as I process everything I learned during these intense six days in Tallinn.