Founders Must Have Conviction | 3 Tips from Laurent Grill (Luma Launch)

Laurent Grill, Lead Investor at Luma Launch, is a local friend of ours—with Luma’s office located just a mile from CoEfficient Labs HQ. As an entrepreneur turned investor at the coveted venture-accelerator, Laurent had incomparable insights to share on this episode of Demo Day. 

Below are some of our favorite takeaways from the episode, but we’d love for you to reach out with yours. Feel free to connect with us on Twitter, by email, or on our website, and leave a comment below telling us what you learned!

1. Founders Must Have Conviction.

Founders must believe— in their business idea, their goals, and themselves. It’s not about being stubborn, but about trusting your ability to succeed. From minor criticisms to major setbacks, founders must come up with new solutions without becoming complacent in others’ assessments. 

If you don’t give a little pushback, then how much do you truly believe in your business?

In that same stroke, Laurent says that “you need a level of conviction with your decision making so you can move fast.” The runway is short, especially for early-stage founders. After securing pre-seed or seed funds, you may only have 12-18 months to sink or swim.

As time slips away: make your decision, own it, and ride on.

2. Platforms matter. 

Many accelerators put an emphasis on funding, connecting with investors, and/or mastering the demo day pitch. Luma Launch sets itself apart by emphasizing the idea of “platform.”

The platform is a connection between founders and mentors. It means carefully curating a rolodex of guides through tech, media, and even mental health. Laurent was surprised to see how often early stage founders overlook these ancillary players.

Don’t think that because someone isn’t on your team that they can’t help you. Look for mentors and partners early, and keep in touch with them as your business grows and your needs multiply. Which brings us to…

3. Never leave your support behind.

As founders build, it’s easy to think that you’ve outgrown your early support. Don’t fall into that trap. Hold onto whatever or whoever got you from zero to one. It’s often those early supporters that have your best interest in mind, not just the best interest of your company’s bottom line.

You need to keep your drive up and surround yourself with people who can tell you when you need to take a break, refresh, and come back on the attack with a clear outlook. 

Want to Learn More?

Laurent talks the best (and worst) traits he sees in founders, being a conviction investor, what it’s like working with a sibling, and more on this episode of Demo Day. Listen now on Apple Podcasts, Spotify, or our Demo Day Website.