What it's like to Lead a Founder Institute Semester

The Founder Institute is now in nearly 100 cities worldwide, and both we and our Graduates are growing at a faster rate than ever before. It is an exciting time here at our Silicon Valley headquarters, but the real excitement comes from running an FI semester as a Local Director.

You walk into the room on the first night, and there is this inexplicable anticipation. There are old people and young people. There are men and there are women. A few have created a company before. A few are not that serious. Their business ideas span the entire spectrum, from apps to hardware, and sometimes even biotech. 

The one thing that binds everyone together is that they have a dream. 

The first few nights of a new semester are very nerve-racking. It is always a humble beginning. The Founders are raw, and among all the dreamers, you wonder how many of these people are actually going to be the leaders of great companies.

As you enter the second month, Founders that once made you cringe now stand in front of a room, pitch their business, and score 4's and 5’s (out of 5) by seasoned CEO's. They start forming a clear go-to market strategy. They start asking the right questions and focusing on the important metrics, like the cost of customer acquisition and lifetime value.

As the Director, you start to ask yourself, “what is going on?” The Founders are starting to get their act together, but are they just faking it? Is real progress being made? Will the remaining issues they have get cleared up? Will they make it to the end of the program?

At the midway point of the program, it is the most worrisome for the Founders. The reality of being an entrepreneur sets in. They start to realize that this might be the hardest thing they have ever done. They realize there is no "silver spoon". 

Some of the Founders thrive after this realization, but unfortunately, many will also leave the program and go back to the security of a day job. You may have to make some hard choices for Founders in the "grey area". 

Then, across the last two months of the program, the magic really happens. The founders become Founders. They start to look at the world differently. When they make a mistake, they own up to it - it is their mistake. When they have a win, it is their win. They realize that they control their own destiny.

In short, they become leaders.

It is truly amazing. You see the same people who could barely get out a coherent sentence a few weeks ago now pitch their business and get applause from top startup CEOs. The same people who used to tout a litany of unrealistic assumptions are now providing incredibly deep insights and hard data on their market. In between the weekly sessions they are out there speaking to customers, closing deals, and getting commitments.  

At this point in the program, you start to see that everyone in the room has a real shot at success. They are on the right track, and exponential progress is being made every week.

Then, all of the sudden, the program is over. Potential is realized, and it is over in just four months.

Now the Founders need to continue their progress in the "real world", and you are excited to help them push even further. You see them team up with Mentors as advisors, and some may even raise funding as soon as the program ends. Others will bootstrap or start looking for team members to build out the product. Each Founder has a different plan, but plan is well thought out and ready for execution.

At the end of your semester there is euphoria, relief, sadness, and frustration. You may take a break, but then you quickly miss the energy and weekly surprises of the program.

Helping people realize their potential is incredibly satisfying - words truly can't do it justice. 

If you want to help entrepreneurs, I strongly encourage you to mentor a local entrepreneurship program. You will be surprised by how much you will gain from the experience. 

If you are interested in leading an FI semester, visit http://fi.co/lead. We would love to hear from you.