EENASWASI: Every Entrepreneur Needs A Spouse With A Steady Income
"This be the realest shit I ever wrote"- Tupac
When starting a company, the least exciting topic that you have to address is "how will we survive while we get this thing off the ground?" By "survive" I mean, make money. There are so many more interesting topics like: What's our name going to be? Should we allow dogs in the office? How many millions will we be worth once Google buys us? On my first day of grad school, the most influential professor of my life, Alison Gerlach, wrote "EENASWASI" on the board. She asked if anybody knew what it meant. Complete silence. "Every Entrepreneur Needs A Spouse With A Steady Income," she said. At the time I laughed, but looking back I realize that in the first few minutes of class, Professor Gerlach taught me one of the most valuable lessons in entrepreneurship; knowing how you'll stay afloat while you build your company can be just as important as what your company does.Â
In our household we refer to the description, EENASWASI, as a noun. It's actually a person. Not just any person, but a person that has had to pull her weight financially while I started a company. My wife, Michelle, is my EENASWASI. An EENASWASI allows money to be coming in the door to pay for monthly expenses while money goes out the door building a company. Nobody ever talks about one of the most intense psychological battles that every entrepreneur goes through, which is the financial pressure. It's taboo to talk about money in our culture. You have to put up a front that you and your company are "crushing it", even though you are living month to month. After all, you're a business owner and everybody assumes you're rich.
This misconception takes a toll on an entrepreneur. Your peers with stable jobs begin to start making "good money." Your families wonder how long the company will take before you start making "good money." You have countless meals with your significant other discussing whether or not the company is going to "take off." It's like being on a road trip with kids that keep asking, "Are we there yet?" You can say that we (the company) are getting close and are just around the corner, but after awhile that pitch begins to lose it's luster. All the while, you have to "keep up with the Joneses" even though the Joneses have chosen a different path. A more stable path. A path that is trimmed with a weed whacker on the 1st and 15th each month, while you try to blaze a trail through poison oak.
You might be thinking you know how to solve this problem of financial pressure. What if your company raised $500K-$1M of capital? Wouldn't that alleviate all of these financial pressures? Mehhh. Companies in the tech space don't always need money, but they need time. When you focus your time and energy on fundraising, then you are not focusing on building the company.  Raising capital forces you to step on the accelerator and get "further along." This works perfectly if you have early stage validation and know where you're going. However, if you don't have traction and you aren't sure where you're heading, then you could be getting "further along" in the wrong direction. Then, the founders have to explain to their employees and investors about why their original vision was wrong and why they want to change directions. If the investors and employees don't agree with the new vision, then the founders are faced with a decision: continue the original business that you don't believe in or piss everybody else off and go with your instinct. "Ok, so you said that if you don't raise money, then your life can be miserable and burdened with financial pressures from all around you. And if you do raise money to alleviate financial pressures, then you run the risk of raising too early before you know what you're doing, which could ultimately lead to your demise. I'm confused, what should be my main takeaway here?" The fuck if I know. Go figure it out for yourself. Just make sure you have an EENASWASI.









