Hole in the Whole

When it comes to business, do you believe luck plays a part? On this episode of Hole in the Whole, listen as Tom and Yana share their views on luck. Yana attributes her success to hard work and says that she doesn't believe that luck plays any part, whereas Tom believes that luck has played a big part in his. There were some parts they agreed on, but for the most part, Tom decided that luck plays a much bigger part in his dreams than they do in Yana's. Where do you stand? They would love to hear from you and find out your opinion.

If you enjoy this episode, please share it with friends, leave comments and reviews, and get our podcast heard. 

Today's episode:

• [00:24] Welcome to the show, everybody!
• [00:56] Yana says that she doesn't believe that there is luck in business.
• [01:36] Tom believes that there are so many moving parts in business that can't be influenced that he believes that there is some form of luck.
• [04:11] Yana says that there are many circumstances you can't influence initially, but over time consistency has a bigger weight and more impact.
• [05:22] Tom shares that because Yana was an immigrant, it strengthened her and allowed her to meet people, she might not have met otherwise.
• [07:35] Yana agrees that when people are being challenged and have obstacles, they have options and might try harder.
• [10:04] Tom says that you are either the victim or perpetrator.
• [12:55] Yana shares that in business, having partial responsibility doesn't work.
• [13:41] Tom speaks about having a win-win attitude.
• [16:09] How you deal with the people in your environment or professional life is completely in your hands.
• [17:47] Tom shares an example of when someone said you are so lucky when in business.
• [19:10] Yana explains what she was trying to get across in this episode.
• [22:06] Tom expands on what happened with the company he used in his example.
• [23:32] Yana speaks about the numbers she forecasted for her business in 2020 and how she contributed some of it to magic.
• [25:14] Tom believes that luck plays a bigger part in his dreams than they do in Yana's
• [25:39] Thank you for listening!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn

Today, Tom and Yana discuss how to fake it until you make it, and Tom adds the subtitle how to fake it until you make it without getting delusional and lost in self-hypnosis. Yana believes that when people don't know the risks, they move fast, invest, and face the consequences later, while Tom shares a different opinion on the topic. Yana believes that startups like working together because they are both new, and they like a 'creative confusion' atmosphere and understand each other, but things don't get done. Tom believes that it comes down to how much structure you need and or want. As usual, this is a great conversation. Listen and enjoy!

If you enjoy this episode, please share it with friends, leave comments and reviews, and get our podcast heard. 

Today's Episode:

• [00:24] Happy Monday, everybody!
• [00:55] Yana shares a scenario that came to mind when Tom suggested this topic.
• [02:56] When people don't know the risks, they move fast and invest. 
• [04:02] Tom speaks about what he thought about when he brought up this topic, but he believes that Yana is saying there is a lot of faking going on at the back end.
• [05:00] Before you have testimonials and test studies, you have to have a way to announce yourself to the world.
• [06:40] Yana shares two ways to go about faking it.
• [09:24] Tom says that you should be paid once you deliver and actively deliver the product to the customer and not give it away for free.
• [11:27] Tom believes that having experience and a track record allows people to get personalized services for them.
• [12:15] Yana shares some negative experiences she's had using Tom's examples.
• [15:15] Tom believes that if you are one end of the extreme and you are working with a more conservative partner, it can work out much better.
• [17:05] When a client's funds are in danger, she is very unapologetic because it is a firm line that she won't cross.
• [19:31] Tom believes that Yana is saying that client funds can not be put at risk, but investor funds can be.
• [20:15] Tom says that faking becomes unacceptable at the point that it becomes fraudulent.
• [22:53] If the gap between what you promise and what your ops team's day-to-day experience gets too big, it is a default breaking point.
• [26:03] Yana speaks about the vision being there, but you aren't growing, you may have a poor management team.
• [26:30] Yana believes that faking it until you make it is necessary.
• [27:48] Thank you for listening!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn

In this episode of The Hole in the Whole, Yana and Tom break their golden rule and discuss religion. The idea started with Yana's new favorite book called The Darkening Age, which led them to discuss church, new gods, and philosophy. Listen as they find a similarity between religion, FinTech startups, and totalitarian ideology. They both seem to be on the same page with a few differences in the philosophy, but as usual, it turned into a very interesting conversation.

If you enjoy this episode, please share it with friends, leave comments and reviews, and get our podcast heard. 

Today's Episode:

• [00:24] Happy Monday, everybody!
• [00:31] Yana discusses when she and Tom first decided to do a podcast.
• [01:12] Yana shares that the idea for this episode started with her new favorite book called The Darkening Age.
• [04:40] Tom loves the theory and analogy and discusses the Catholic church and how they split the one true God.
• [06:29] Tom speaks about the analogy between church and FinTech.
• [08:31] Yana thinks it's funny to think about multiple gods and shares how she was told Christianity got started.
• [10:51] Yana wants to know why this totalitarian ideology requires people to sacrifice the quality of life and pleasures.
• [11:51] Tom believes it is a discussion of power.
• [14:27] Yana says that economically, it doesn't work because people were struggling if you look back.
• [15:16] Tom says that it depends on who you compare because if you compare the Roman Empire to the Catholic Empire, over time, the Catholic Empire was prosperous.
• [17:18] Tom believes that the old ways have been replaced by new tools like the internet and digitization are the new gods.
• [21:25] Thank you for listening.

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn

How do you structure your sales conversations? Listen as Tom and Yana discuss how to know at which level you should start your pitch. Do you pitch to the dumbest person in the room and hope the smartest one doesn't ask questions or pitch to the smartest person in the room and hope the others can keep up? Do you have a scripted pitch, or do you wing it? These are some of the things that Tom and Yana debate on this episode of the Hole in the Whole, and they would like to hear your strategy when preparing your sales conversation.

If you enjoy this episode, please share it with friends, leave comments and reviews, and get our podcast heard. 

Today's Episode:

• [00:24] Happy Monday, everybody!
• [01:08] Tom discusses how much detail you need to go to when pitching a sale.
• [02:43] Yana agrees that when selling to B2B, there are different levels and priorities.
• [04:24] Tom says that you can find ambassadors at all levels of detail and expertise.
• [05:44] Yana believes you should step into the buyer's shoes to see what is important to them.
• [07:30] Who is the initiator of the demo? 
• [08:55] Yana says that there are fewer decision-makers and more of a sense of urgency when you have a small company.
• [10:42] Yana explains what she means by having a relationship with an important stakeholder.
• [13:13] Do you think it's important to have nicely scripted demo's?
• [14:14] Yana believes that yes, you should write a script when making a presentation.
• [16:24] Yana shares that you should have two people when doing a demo; one needs to talk and monitor the customer.
• [18:10] Tom says that he can see why you want it to be polished, but he doesn't like to have a script.
• [21:19] Always be aware of where your service providers are in terms of maturity, scale, and priorities.
• [22:54] Tom says that with a little strategy looking ahead and a little architecture in place, this can take you a long way and not have to rebuild your tech platform every year.
• [23:16] Yana shares her final thoughts.
• [24:16] Tom gives his last words.
• [24:37] Thank you for listening.

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn

Having a false sense of security can get you blindsided. Listen as Tom and Yana discuss why it's a good idea never to stop applying for jobs, even if you are happy where you are at. Never believe that you are safe in your job, always look and see what is available because you never know when the rug will be pulled out from under you. Listen as Tom and Yana go back and forth, giving their reasons for never having a false sense of security.

If you enjoy this episode, please share it with friends, leave comments and reviews, and get our podcast heard. 

Today's Episode:

• [00:24] Hello, everybody!
• [00:38] Yana speaks about having a false sense of security.
• [01:11] Yana gives an example for reference.
• [03:58] Tom shares three ways you benefit from applying for jobs even though you are already employed.
• [06:38] Yana calls it consistently getting away with murder.
• [09:48] Tom speaks about the knowledge that a tech architect has around a project.
• [11:03] Yana shares about documenting and taking shortcuts.
• [12:28] Tom believes you should document the thinking and pros and cons and conclusions leading up to your original path; you can see what has changed.
• [14:48] Yana discusses how even though there are changes, your documentation can still be valid.
• [16:01] Yana speaks about the things that regulators look at.
• [18:23] Tom believes that a lot of times in the startup world, a false sense of security is related to a few crucial key players' dependence.
• [21:26] Have you ever been afraid to hand over work you don't like to someone else?
• [23:02] Tom discusses the signal-to-noise ratio.
• [24:21] Yana says that startups don't think they run on inertia, but they do.
• [27:03] Tom shares some final thoughts on the topic.
• [28:20] Thank you for listening!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn

Do you believe that you need to go deep? Tom believes that without deep technology, deep domain expertise, and deep data, it's hard to succeed. Yana agrees and disagrees; she gives an example of what she is talking about. Tom shares his views on how tech, domain expertise, and data need to overlap and why some traditional large companies can survive even though they are a little old school. They agree more than disagree on this episode, but they are still very entertaining.

If you enjoy this episode, please share it with friends, leave comments and reviews and help us get our podcast heard. 

Today's Episode:

• [00:24] Hello, everybody!
• [01:29] Tom discusses reading pitches and how they are always about what makes them special.
• [03:13] Yana doesn't believe that being deep in tech, domain expertise, or data makes any difference. 
• [05:28] Tom shares that not one of the three areas can standalone, you need all three to be successful.
• [07:04] Yana explains why she doesn't believe that deep tech is important for a product.
• [10:28] Tom discusses his views on how tech, domain expertise, and data elements need to overlap.
• [12:21] Yana gives an example of a traditional bank.
• [14:32] The inertia of the market and the ability to wait out trends and react to them keep traditional banks alive.
• [15:38] Thank you for listening!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn

Does your lifestyle choice promote business growth, or is it in conflict with your business objectives? Listen, as Yana and Tom discuss the suggestion that if a business hasn't grown and reached a certain level, it is viewed as a lifestyle choice of the founder. Yana believes that you can only prioritize your lifestyle if you use your time wisely and focus on the right things, and Tom agrees to a point. Do you agree? 

If you enjoy this episode, please share it with friends, leave comments and reviews and help us get our podcast heard. 

Today's Episode:

• [00:24] Hello, everybody!
• [00:34] Yana shares the topic of this conversation.
• [01:02] Yana says that some suggest that If a business hasn't grown and reached a certain level, it is viewed as a lifestyle choice of the founder.
• [02:04] Tom believes that the focus on growth will be a thing of the past.
• [02:48] Yana says she doesn't know where this comes from, most people she knows don't have a lifestyle she would strive for.
• [03:52] Tom says that fintech should be able to appreciate more balanced business models.
• [04:38] Yana speaks about some startups she knows that are still grinding for success; they haven't been able to focus on lifestyle.
• [06:38] Tom believes the question for balance versus grind is difficult to tip in one direction.
• [07:42] Yana agrees with Tom's insights into this balance.
• [10:34] Tom shares a book he has been reading.
• [13:06] Tom discusses the book's description of needs inside of a framework.
• [14:33] Yana says she can see why Tom likes the book because it is so confusing.
• [16:48] Yana speaks about adapting the framework in the book.
• [18:54] Tom believes that a business is there to make money and succeed and grow.
• [21:16] Yana shares a story about a founder that asked her for feedback.
• [23:34] Tom says there is a workaround for just about everything, which is a hard lesson for engineers.
• [26:34] Yana speaks about times when her engineers didn't listen to what she was trying to tell them.
• [27:28] Yana wants to end this with prioritizing lifestyle is only possible if you use your time wisely and focus on the right things.
• [28:44] Tom and Yana are eager to hear your lifestyle choices and how they either promote business growth or conflict with business objectives.
• [29:35] Thank you for listening. Bye for now!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn 

Do you think the services we use are more of an ecosystem play? Listen as Tom believes that we have moved into the E2E model and defines what he means by that and what the E stands for. Yana says that conceptually she would love to see this E2E model flourish, but she is not convinced that we are there yet. Tom shares some examples where he thinks this ecosystem approach could be beneficial quicker. This is a fascinating episode. Where do you stand on the whole E2E ecosystem discussion?

If you enjoy this episode, please share it with friends, leave comments and reviews and help us get our podcast heard. 

Today's Episode:

• [00:24] Hello, everybody!
• [00:44] Tom believes that we are all moving into the E2E world.
• [01:03] Tom defines what he means by E2E.
• [02:40] Yana says that conceptually she would like to see this idea flourish.
• [04:05] Tom agrees with some of what Yana has stated, but he adds his own thoughts.
• [06:30] Yana doesn't believe that it is a viable concept for startups.
• [07:06] Yana speaks about Wirecard and them not having a backup.
• [08:57] Tom shares that Yana is looking at this from a business perspective while looking at it from a tech position.
• [11:15] Do you plan for redundancy in backups? 
• [13:09] Tom gives some examples of where this ecosystem approach could kick in earlier.
• [16:09] Yana believes that data sharing works, but no one wants to use it.
• [17:35] Tom says that in the real-world data sharing is being used every day.
• [19:48] Tom gives some examples of companies that data share.
• [21:12] Yana shares that she sees increases using somebody's data passively.
• [23:49] Tom speaks about a climate control company that allows clients to see how much carbon offsetting their purchase would be and whether they want to do it.
• [26:39] Tom shares some final thoughts.
• [27:29] Thank you for listening to the show.

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn 

What are your views on ‘all or nothing?’ Do you agree with Yana that it is a way to make sure you are performing at your highest level and leaves very little room for compromise or do you think Tom’s view that it depends on what you want either structure or chaos is a better way to look at a task? Either way, this is a great conversation with compelling examples that leave you to make your own decision. Listen and see whose insight matches yours the best.

If you enjoy this episode, please share it with friends, leave comments and reviews and help us get our podcast heard. 

Today's Episode:

• [00:24] Hello, everybody!
• [00:52] Tom believes that this strategy is an absolute stupid strategy.
• [01:03] Yana says that it is most times an excellent strategy.
• [01:51] Tom discusses Yana’s hiring example of all or nothing.
• [03:03] Yana shares why she suggested this episode.
• [05:11] Tom agrees that a lot of times it is about risk taking and how you define your guidelines.
• [06:30] Yana speaks about what her love of all or nothing is grounded in.
• [08:52] Tom thinks this relates to whether you want structure or chaos.
• [09:30] Using the all-or-nothing approach works for Tom  with shopping.
• [11:13] Tom shares it satisfies his thoughts on the two regions of the brain: one makes you crave things and the other one that you have the things.
• [12:07] Yana agrees that when you crave something, the preparation is much more fun than actually doing it or getting it.
• [13:17] Yana concludes that she feels attached to the all-or-nothing strategy.
• [14:07] Tom concludes that life is more complex than we like.
• [15:08] Thank you for listening to the show!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn 

Have you ever misused the word impact in a business context? Listen as Tom and Yana discuss how startups look at income versus impact. Yana shares that if a company or client chooses to work with you because of the value you bring, then she considers that impact. Tom believes that if they can look you at as more than a profit-and-loss statement or a balance sheet, it is a gigantic step. Yana and Tom disagree through this entire episode, but if you think about it, isn't that why you listen?

If you enjoy this episode, please share it with friends, leave comments and reviews and help us get our podcast heard. 

Today's Episode:

• [00:24] Hello, everybody!
• [01:03] Listen, as Yana shares how she feels about the dilemma of income or impact.
• [02:09] Yana feels that the impact is a situation where customers prefer to work with you because they see value in working with you.
• [03:12] Tom doesn't agree, he says that we live in an economy driven by growth and financial success for so long that we are allergic to anything that isn't explainable from your balance sheet or profit-and-loss statement.
• [04:56] Yana suggests that sometimes you may have intangible factors with your organization that may relate to your customers.
• [05:42] Yana gives two examples of what she means.
• [08:01] Tom says that Yana has misused the term impact in a context that is horrendous.
• [10:38] Tom believes that you should improve the social status quo.
• [12:44] When Yana sees that people care about the cause, she admires their attitude.
• [13:38] Tom says that no one likes greenwashing. 
• [15:28] Yana talks about seeing what Tom has described from a business standpoint.
• [16:51] Tom shares that it is not always economically sensible or in the best interest of the shareholder for you to comply with impact guidelines.
• [19:21] Tom says you can use the same metrics for measuring the impact elements for the environment and society.
• [20:13] Yana asks, what if I want to run a company, but I don't want to be part of this social PR thing, can't I just focus on my business, does it mean my company isn't worthy?
• [20:35] Tom believes that if you are a small one-person show, it doesn't matter, but once you become publicly traded, you need to pay attention.
• [22:35] Tom gives some examples of why what Yana is talking about doesn't work.
• [25:00] Yana speaks about her dilemma with this topic.
• [28:37] Yana wants to know how Tom could consider censorship on high heels to be a promotion.
• [31:36] Yana believes that most people are sensible.
• [32:00] Tom agrees with Yana, finally at the end.
• [32:39] Thank you for listening. Bye for now!

Show links:

• How to get in touch with us, if you’d like to tell your startup story: Yana on Instagram, Tom on LinkedIn