The Foundr Podcast with Nathan Chan

Episode 594: (Solo) The Mindset Lessons I’ve Learned From 100+ Founders

Date: October 7, 2025
Host: Nathan Chan

Episode Overview

In this solo episode, Nathan Chan dives deep into the powerful mindset lessons gleaned from over a decade of building Foundr and interviewing 100+ world-class entrepreneurs. Moving beyond tactics and growth hacks, Nathan focuses on the inner game—the thinking, perseverance, and resilience required to succeed as a founder. He shares personal anecdotes, founder stories, and actionable advice for cultivating the mental toughness necessary to withstand the long road of entrepreneurship.

Key Discussion Points & Insights

Why Mindset Trumps Tactics

• Tactics, platforms, and technology come and go, but mindset is the foundation of lasting entrepreneurial success.
  • [01:37] Nathan stresses that while startups chase the latest “viral” wins, true longevity comes down to mental resilience.
  • Quote: “Tactics will change, platforms will change, industries will change, technologies will change. But your mindset is the one thing that will make or break your ability to last in the game.” – Nathan Chan [01:37]

The Power of Belief

• Belief is half the battle.
  • [01:53] Nathan recounts a conversation with a founder of a $200M/year company:
  • Quote: “He said to me, ‘Nathan, do you think Foundr can be a $100 million a year company?’ And I said, ‘Yes.’ And he said, ‘Okay, well that’s 50% of the battle won.’” – Nathan Chan [01:53]
  • The lesson: Conviction and self-belief are prerequisites for outsized outcomes.

The Reality Behind Overnight Success

• Success is slow, failure is common, and the grind is real.
  • [02:30] Nathan dispels myths about overnight wins. Even fast-growth founders often have a decade of struggle behind them.
  • Cites a mentor’s wisdom:
  • Quote: “It takes seven to ten years to build something of true worth and significance.” – Nathan’s mentor Mitch [02:45]
  • “Don’t compare your chapter one to someone else’s chapter twenty.” – Nathan Chan [03:17]

Embracing Failure and Staying in the Game

• Failure is part of the journey—what matters is persistence.
  • [04:34] Nathan shares his own early stumbles and insecurities, especially during the COVID-19 crisis.
  • All successful founders, from Richard Branson to Emma Grede, have echoed that “failure was their teacher.”
  • “The fear never fully goes away, but you can decide how to take action despite it.” – Nathan Chan [05:10]

Story: Early Rejection from Noah Kagan

• [05:26] Nathan approaches Noah Kagan for an interview early in Foundr, only to be turned down.
  • Kagan’s blunt response: “No offense, but why would I do an interview for your magazine? …nobody’s ever heard of you.”
  • Redemption: Years later, after persistence and growth, Nathan and Noah become friends and collaborate.

Playing the Long Game

• Enduring brands and companies require patience and a meaningful “why.”
  • [07:08] Focus on impact, not just revenue.
  • Quote: “If you want to build something significant, something that impacts customers, builds community and lasts… you want to play the long game. It takes 7 to 10 years to build something of true worth and significance. You want to have that mindset, not 7 to 10 weeks.” – Nathan Chan [07:15]

Actionable Mindset Lessons

1. Think in Decades, Act in Days

• “Big vision but small consistent actions.” [08:01]

2. Detach from Outcomes, Attach to Process

• “Don’t judge success by one launch or one campaign.”

3. Reframe Failure as Data

• “Every loss is a lesson and every pivot gives you progress.”

4. Surround Yourself with Builders

• Borrow belief from others until you have your own.
• “You truly are the average of the five people you spend most of your time with.” – Nathan Chan [09:02]

Memorable Quotes & Highlights

• “50% of the battle is just believing you can do it, and then the other half is actually doing.” [01:58]
• “You need to experience a lot of fear, a lot of failure in the founder’s journey to actually succeed, right? And actually build your own success story.” [03:57]
• “Every founder I’ve spoken to… said the same thing: failure was their teacher.” [05:00]
• “Don’t compare your chapter one to someone else’s chapter twenty.” [03:17]
• “If you’re here to get rich, building a true brand… probably isn’t for you. But if you want to build something significant, … you want to play the long game.” [07:08]
• “Money is just a byproduct of solving real problems well.” [07:44]
• “Great things take time. But with the right mindset, the right persistence, and the willingness to just never give up and learn from failure, you look back in time and realize you’ve built something truly significant.” [09:14]

Timestamps for Key Segments

• [00:49] Introduction: Purpose of solo episode – focusing on mindset
• [01:37] Mindset as the foundation, conversation with $200M founder
• [02:30] Myth of “overnight” success; importance of patience
• [04:34] Personal stories of failure, COVID-19 turbulence
• [05:26] Noah Kagan rejection and persistence
• [07:08] Playing the long game, focusing on significance
• [08:01] Actionable mindset habits for founders
• [09:02] The value of community and surrounding yourself with builders
• [09:14] Closing encouragements: the significance of persistence

Takeaways for Founders

• The journey to success is measured in years, not weeks; the right mindset is what keeps founders in the game.
• Build belief before anything else—half of achievement is envisioning it as possible.
• Welcome failure as feedback and focus on progress over immediate profit.
• Find peer communities; your circle can elevate your vision and standards.
• Anchor yourself in your purpose, and remember: true impact takes time, courage, and relentless persistence.