Tactical insights for first-time founders to outsmart the burn, the churn & the breakdown.
Hey Founder,
Merry Christmas! 🎄
Today, your feed is probably full of graphs, funding milestones, and polished “year in review” posts, each one a carefully cropped window into someone else’s journey. And if your year didn’t come with a headline, it’s easy to wonder what you missed, or whether you’re falling behind.
But what you’re seeing isn’t the full picture; it’s the highlight reel. What’s left out are the softer parts: the years of quiet work, the failed ideas, the luck no one names, the unfair advantages no one declares.
You’re not behind. You’re just in a different chapter, one that isn’t finished yet, but matters just as much.
That’s the part they don’t post about.
The Margin
The Chapters Nobody Publishes
Those viral “scaled in 6 months” threads? They almost always skip the slow years.
Take Calendly.
We all saw the ‘overnight unicorn’ moment in 2021: $350M round, multibillion valuation, tens of millions of users.
What we missed is the eight‑year slog: 2013 with ~1,000 free users, 2014’s first paid plan, 2015’s painful free‑to‑paid ratio, 2019’s still‑unsexy but solid ARR, and only then the pandemic tailwind and breakout.Zoom looked like a rocket ship in 2020, but Eric Yuan spent a decade at WebEx first, refining the same ideas no one listened to, then nearly another decade building Zoom, one user, one laggy video call at a time.
Mailchimp? Twenty years bootstrapped. Started as a side project inside a web agency.
Even Beehiiv, the “fast-growing” newsletter platform, was built by people who spent years inside Morning Brew before launching with baked-in distribution and insights no headline ever shows.
Most “overnight success” stories are just 7–10 years without applause. The internet skips those parts. Real life doesn’t.
Why You Should Not Compare
You don’t see their starting line. Experience, network, timing, geography, a partner’s income - those hidden boosts that made their outcome possible don’t copy‑paste into your life.
You can’t skip the learning curve. Some lessons only show up through dead‑silent launches, botched sales calls, and awkward money conversations; no thread or playbook can do those reps for you.
You’re looking at survivors, not the field. For every “I did X, and it worked,” there are many who did the same thing and quietly vanished, which is exactly how survivorship bias tricks founders into overestimating what’s repeatable.
What you’re comparing against isn’t the full story. It never is.
Instead, do this…
Tiny Reframe
Study Patterns, Not Timelines.
Timelines are noisy. They’re distorted by luck, timing, prior careers, and safety nets you’ll never see. When you fixate on “18 months to $X,” you’re mostly looking at variables you can’t control.
Patterns are quieter and far more useful. They show why something worked: the problems chosen, the product decisions made, the distribution bets, and the years of iteration before anyone paid attention.
Canva and Figma look like opposite stories, one “fast,” one “slow.” Under the surface, both followed the same pattern: collaboration built into the product, radical simplicity for a specific user, and long stretches of unglamorous iteration before growth showed up. The difference wasn’t direction, but timing, five years of work before launch in Canva’s case, and years after launch for Figma.
(‘Truth’ changes from every angle. Credits: VisualizeValue)
That’s the shift worth making. Stop asking, “How long did it take them?” and start asking, “What were they doing repeatedly that eventually made success inevitable?”
And once you see that, the real question becomes: how do you learn to spot those patterns early?
3 Margin Moves to Separate Signal from Noise
1. Recalibrate the chapter you’re in
Before you plan 2026, pause and look back. What have the last 5–10 years taught you - through roles, side projects, failed bets, or obsessions? That’s your edge: the specific knowledge you’ve earned, not downloaded.
Write this at the top of your 2026 doc: “I’m in Chapter __ of this story.” Make decisions from that chapter - not the intro, and not the one you wish you were in.
2. Decide which game is worth winning
One side of the page: what looks good online - raising fast, scaling loudly, chasing X in 12 months.
The other side: what would actually make your life better in 3–5 years - more clarity, more control, fewer moving parts.
Circle one sentence from the second column that feels uncomfortably true. Then cut anything that only serves the first.
3. Pick one habit your future self will thank you for
If you had to bet on one behaviour to make you a better founder by 2030, what would it be? Write the rule: “Every [day/week], I will __, no matter what.”
Add it to your calendar. Through March. Like payroll, it happens, regardless of mood.
Tough Love Corner
A founder shared a very real problem with me:
"We’re about 25 people now. How often should I run performance reviews and promotions? I don’t want to be random - but I also don’t want a paperwork factory."
At this stage, you don’t need complexity - you need rhythm. A cadence your team can trust.
One annual review
Once a year, run a structured self + manager review for each person, focused on expectations, impact, and what “great” looks like in their role.Pick a consistent month. Stick to it. No one should have to guess when they’ll hear real feedback.
One mid-year check-in
Halfway through, do a simple “how are we tracking?” conversation - anchored to 3–5 priorities set earlier.
No ratings. No forms. No comp talk. Just space to adjust while there’s still time.
One promotion/comp cycle
Tie promotions and raises to the annual review window. It keeps decisions fair and structured.
Make room for the occasional exception - but make clear that’s what it is: an exception.
Weekly or bi-weekly 1:1s
Use them for coaching, support, and in-the-moment feedback - not as stealth performance reviews.
If your formal review includes surprises, the issue isn’t frequency. It’s honesty.
That’s it: clear, consistent, and human. No HR bloat required.
Got a burning founder question?
Send it my way, just hit reply.
Founder’s Toolbox
A few picks actually worth your time this week:
Before you go…
Stripe failed at 30+ bank integrations before anyone cared.
Canva pitched over 100 investors before one said yes.
Duolingo rebuilt its app - multiple times - before it finally stuck.
Not because they were slow, but because they were still becoming the founders those businesses needed.
That part? You can’t outsource it.
You can’t shortcut it.
You have to run the experiments, take the hits, and build the instincts.
Becoming the person who can build something enduring - that’s the real work.
And oddly enough, it’s the long way that turns out to be the shortest path.
So as you (hopefully) close your laptop, reach for dessert, and lean into rest -
Just remember: the process is the moat.
Merry Christmas!!! 🧑🎄
See you next Thursday,
— Mariya
What did you think of today’s issue?
Hit reply and let me know. I read every single one (for real).
About me
Hey, I’m Mariya, a startup CFO and founder of FounderFirst. After 10 years working alongside founders at early and growth-stage startups, I know how tough it is to make the right calls when resources are tight and the stakes are high. I started this newsletter to share the practical playbook I wish every founder had from day one, packed with lessons I’ve learned (and mistakes I’ve made) helping teams scale.
