When is the right time for a startup to build a board of directors? And who should actually sit on it?

In this episode of the TxO Startup Hotline series, Kofi Ampadu, partner at a16z and head of TxO, taps Jeff Stump, operating partner and head of the Talent Network team at a16z, to answer a founder’s question.

Drawing on his years of experience helping companies build their boards, Jeff unpacks the key milestones for adding directors—from your first independent member after product–market fit, to knowledge-gap expertise as you scale, and governance-ready leaders ahead of IPO.

He also shares why the CEO must personally lead the recruiting process, how to run a strong director search, and what makes for successful onboarding.

If you’re debating whether it’s too early to start building your board, this episode is for you.

Timestamps:
00:25: Intro: Founder question
01:20: Why “build it forward” when forming a board
02:10: The first milestone: after product–market fit
02:36: The second milestone: as the company scales
03:01: The third milestone: 12–18 months before IPO
03:25: CEO-led recruiting: why it matters
03:38: How to run a strong director search process
03:59: Closing advice for founders

📞 Got a question of your own? Call 1-844-DIAL-TXO and Kofi might answer it in a future episode.

The Talent x Opportunity initiative (TxO) at Andreessen Horowitz supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:
https://a16z.com/txo
https://x.com/a16ztxo
https://www.instagram.com/a16ztxo/
https://www.linkedin.com/showcase/a16z-txo

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Thinking about applying to a startup accelerator but not sure if it’s the right move?

In this episode of the TxO Startup Hotline series, Kofi Ampadu, partner at a16z and head of TxO, breaks down what accelerators actually are—and what they’re not. He covers what to expect, how to evaluate if a program is worth the equity trade-off, and three key questions every founder should ask before applying.

If you’ve heard mixed reviews about accelerators and are wondering whether they’ll really help your business, this one’s for you.

Timestamps:
00:00: Intro
00:30: Founder question
00:55: What a startup accelerator actually is
01:11: What accelerators are not
01:17: Common accelerator benefits (and trade-offs)
01:27: Three questions to ask before applying
01:50: Final advice for founders

📞 Got a question of your own? Call 1-844-DIAL-TXO and Kofi might answer it in a future episode.

The Talent x Opportunity initiative (TxO) at Andreessen Horowitz supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:
https://a16z.com/txo
https://x.com/a16ztxo
https://www.instagram.com/a16ztxo/
https://www.linkedin.com/showcase/a16z-txo

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

“How are other founders confident in their financial projections?”

If you’ve ever stared at a blank spreadsheet wondering how to come up with numbers that make sense — you’re not alone. In this episode of the TxO Startup Hotline series, Kofi Ampadu, partner at a16z and head of TxO, walks through five practical steps to help early-stage founders build financial projections they can actually feel good about.

He breaks down bottoms-up vs. top-down models, what assumptions to make, how to map out revenue and costs, and why your projections matter (even when they’re not perfect). Plus, there’s a free financial projections template to help you get started today.

Timestamps:
00:00 – Intro
00:50 – Founder question
01:12 – Why no one feels 100% confident in their projections
01:42 – Top-down vs. bottoms-up forecasting explained
02:33 – A walkthrough of bottoms-up forecasting using a lemonade stand business model
02:55 – Understanding revenue assumptions: customers, pricing, and frequency
03:28 – Understanding cost assumptions
04:03 – Explaining your expenses
04:22 - Building a 12 month projection
04:45 – How to use this model to gain investor confidence
5:00 – Where to get the free template

Download the free financial projections template → https://info.a16z.com/Download-TxO-Startup-Hotline-Financial-Projections-Template.html

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

The Talent x Opportunity initiative (TxO) at Andreessen Horowitz supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:
https://a16z.com/txo
https://x.com/a16ztxo
https://www.instagram.com/a16ztxo/
https://www.linkedin.com/showcase/a16z-txo

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the early days of building a startup, it’s easy to get stuck talking to people who’ll say your idea is “cool” — but that’s not the same as customer feedback.

In this episode of the TxO Startup Hotline series, Kofi Ampadu, partner at a16z and head of TxO, breaks down a practical, no-frills approach to getting real input from potential customers. Learn how to identify who your customer actually is, how to connect with them (without overthinking it), and what to listen for to know if they care enough to pay.

If you’re stuck on how to start customer interviews, this one’s for you.

Timestamps:

00:00 – The trap of sharing your idea with the wrong people

01:12 – Why early customer feedback matters

01:35 – Step 1: Identify your ideal customer

01:50 – Step 2: How to actually connect and get feedback

02:22 – Step 3: Make sure they care enough to pay

02:30 – Why behavior > opinions

02:40 – What if the user and the buyer are different?

02:50 – Recap: A simple 3-step plan to talk to your customers

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

The Talent x Opportunity initiative (TxO) at Andreessen Horowitz supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week’s episode gets into the emotional side of entrepreneurship—and how to keep your relationship steady while chasing your startup dream. Kofi Ampadu, partner and head of Talent x Opportunity at Andreessen Horowitz answers one founder’s question,

“My partner is pretty risk-averse and not necessarily supportive of my entrepreneurial goals. They’d prefer I keep a stable 9–5. Any tips on how to navigate this?”

Whether your emotional co-founder is all in or just worried you’re going all out, Kofi breaks down five practical ways for navigating dynamics with a romantic partner who is less-than-supportive of your startup dreams.

Timestamps:

00:00: Intro to episode 7 of the TxO Startup Hotline Series

00:48: Founder question

1:27: Tips for putting your partner at ease

1:34: Checking your ready to go full-time

2:00: How to create short-term milestones

2:25: Motivation for making money quickly

2:50: Tips for communicating your progress with loved ones

3:10: How mentors, advisors, or other partners can play a role

3:28: Final thoughts on the entrepreneurial journey’s impact to friends and family

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

The Talent x Opportunity initiative at Andreessen Horowitz (a16z TxO) supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

How do you know when it’s time to make your first hire?

In episode 6 of the TxO Startup Hotline, Kofi Ampadu, partner and head of Talent x Opportunity at Andreessen Horowitz, is joined by Jenna Zucker, Talent Partner at Andreessen Horowitz to answer one founder’s question:

“When should I begin to think about hiring additional team members? Should I continue with contractors or look at full-time hires?”

Jenna breaks down:

When to hire contractors vs. full-time employees

Why early hires should be treated as strategic investments

How to recruit without relying on salary alone

Why founders should lead the recruiting process

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

Timestamps:

0:00 - Intro to Episode 6 of the TxO Startup Hotline Series

0:32 - When should I hire full-time employees?

1:46 - The difference between contractors and full-time hires

2:00 - How to attract great talent without big salaries

2:28 - A common mistake founders make when recruiting

3:11 - Why founders make the best recruiters

3:35 - Final thoughts on acquiring top talent

The Talent x Opportunity initiative at Andreessen Horowitz (a16z TxO) supports founders building cultural innovations through funding, training and ongoing mentorship.

Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo 

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

What do early-stage investors really want to see?

In episode 5 of the TxO Startup Hotline, Kofi Ampadu, partner and head of Talent x Opportunity at Andreessen Horowitz, answers one of the most common questions founders ask when looking to raise capital:

“What are the exact things an investor needs to see from my business to invest at an early stage?”

Kofi breaks down the key signals investors look for before writing that first check – and how to tell a story that makes them believe in your vision.

He covers:

What “traction” actually means at an early stage

Why investors care about market strategy – not just market size

The team qualities VCs look for in early-stage startups

Why storytelling is your most underrated fundraising tool

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

Timestamps:

0:00 – Intro to Episode 5 of the TxO Startup Hotline Series

0:27 – “What do investors want to see before writing a check?”

0:53 – Why traction matters (and what it looks like early)

1:08 – How to show market opportunity

1:21 – What makes a strong founding team

1:37 – Why differentiation helps you stand out

1:50 – The role of storytelling in fundraising

2:02 – Final thoughts on attracting early-stage investment

The Talent x Opportunity initiative at Andreessen Horowitz (a16z TxO) supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo 

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Struggling to find the right cofounder for your startup?

In episode 4 of the TxO Startup Hotline, Kofi Ampadu, partner and head of Talent x Opportunity at Andreessen Horowitz, answers a question many solo founders wrestle with:

“How do I find a cofounder – and what should I look for in the right person?”

Drawing from his own founder journey, Kofi shares:

How to clarify what kind of cofounder you actually need

Ways to expand your network beyond family and friends

How to build the relationship gradually (instead of rushing into it)

Why tough conversations about equity and decision-making are a must

Whether you're solo right now or searching for the right partner, this episode is for you.

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

Timestamps:

0:00 - Intro to Episode 4 of the TxO Startup Hotline Series

0:36 - “How do I find the right cofounder?”

1:13 - Solo Founder vs. Cofounder

1:41 - How to approach the cofounder search

2:10 - Clarify what you need

2:32 - Expand your network

2:53 -  Build relationships, not transactions

3:25 -  Align expectations early

3:49 - Why the wrong co-founder is worse than no co-founder

4:00 - What to do if you don’t find the right person

4:14  - Final notes

The Talent x Opportunity initiative at Andreessen Horowitz (a16z TxO) supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Worried someone might steal your startup idea?

In episode 3 of the TxO Startup Hotline, Kofi Ampadu, partner and head of Talent x Opportunity at Andreessen Horowitz is joined by Allison Cooper, partner of the startup and venture practice at Fenwick, to answer this founder’s question:

“If I have a shared business idea with a friend, but they don’t want to pursue it, could they still take credit or ownership later on?”

Kofi and Allison break down what early-stage founders should know about protecting their intellectual property, including:

What counts as Intellectual Property (IP)

Why early written agreements matter – even casual ones

What to do if your idea was shared or co-created

Simple steps to establish IP ownership from day one

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

Learn more about Fenway’s Intellectual Property services here: https://www.fenwick.com/services/practices/intellectual-property

Timestamps:

0:00 - Intro to Episode 3 of the TxO Startup Hotline Series

0:41 - Can my friend steal my startup idea?

1:14 - Intellectual Property explained

2:10 - How to document ownership early

2:35 - What if someone's role at the company evolves?

2:59 - What to do if you don’t have connections to lawyers

3:20 - Final notes

The Talent x Opportunity initiative at Andreessen Horowitz (a16z TxO) supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo 

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Not sure which funding path is right for your startup? In this episode of the TxO Startup Hotline series, Kofi Ampadu, partner and head of Talent x Opportunity at Andreessen Horowitz answers the question:

“What are the different types of funding options including venture capital? How do I determine which is right for my company?”

Kofi breaks down key considerations and paths for startup funding, including:

The pros and cons of bootstrapping vs. fundraising

Whether to raise a friends and family round

How angel investors can help you grow

The ins and outs of venture capital

Want your question answered in the series? Call 1-844-DIAL-TXO and leave us a message.

Timestamps:

0:00 - Intro to Episode 2 of the TxO Startup Hotline Series

0:35 - What are the different types of funding options?

0:55 - The value of outside funding

1:20 - Pros & Cons: Bootstrapping

2:05 - Pros & Cons: Friends & Family

2:40 - Pros & Cons: Angel Investors

3:38 - Pros & Cons: Venture Capital

4:31 - Additional funding options to consider

4:40 - Final thought on choosing the right funding path

The Talent x Opportunity initiative at Andreessen Horowitz (a16z TxO) supports founders building cultural innovations through funding, training and ongoing mentorship. Learn more about a16z TxO and stay updated:

https://a16z.com/txo

https://x.com/a16ztxo

https://www.instagram.com/a16ztxo/

https://www.linkedin.com/showcase/a16z-txo 

The content here is for informational purposes only, should not be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security, and is not directed at any investors or potential investors in any a16z fund. Please note that a16z and its affiliates may maintain investments in the companies discussed in this product. For more details, including a link to our investments, please see a16z.com/disclosures 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.