Startup Therapy

In today's Startup Therapy Podcast, Wil and Ryan discuss whether founders are driven by fear or greed. In the world of startups, there's a question that keeps coming up: what drives founders? Is it the fear of failure, or is it the pursuit of wealth and success, often labeled as greed? In this episode, we delve into the motivations behind entrepreneurs' unique journeys. We explore the delicate balance between these two forces, seeking to uncover what truly fuels the hearts of founders as they navigate their daily challenges.

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Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 01:37 Are founders really greedy?
• 05:00 Fear as motivation
• 10:54 Getting paid as a founder
• 16:19 A founder's fear of being called “greedy”
• 20:00 Recognizing founder’s achievements
• 22:26 Fear and greed cycle

In today's Startup Therapy Podcast, Wil and Ryan discuss how you as a founder will know if you’re building the right or wrong product. Have you ever had an idea, but you're just not sure if it's good? It's something that many entrepreneurs can relate to - that anxious feeling of whether what you think would be a successful product could actually just be a waste of your time. So how do you actually know if you’re building the right product?

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https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:08 How do you know if you’re building the right product?
• 03:07 Ask your customers first
• 05:32 Don’t fall in love with your product idea
• 08:07 Start with solving a problem
• 09:38 Lessons from the Fundable experience
• 16:52 The MVP approach to startup ideas
• 20:49 Learning from past mistakes
• 27:45 When great products fail to shine
• 32:35 Knowing when to drop a product idea

In today's Startup Therapy Podcast, Wil and Ryan discuss how startups are actually bought and sold. The process of buying and selling startups can be tricky. It's easy to get confused about how much a startup is really worth, and people sometimes have high hopes that don't match reality. When it comes to getting paid, the way deals are set up can be complicated, with some money coming right away and the rest later, often based on certain goals. To succeed in this startup world, it's important to understand these details and be realistic about what to expect.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:26 How are startups bought and sold?
• 02:32 Know and understand how the process works
• 07:45 Inbound calls in business sales
• 11:35 What's your business really worth?
• 16:35 Startup valuation
• 21:54 The reality of getting paid when selling your business

In today's Startup Therapy Podcast, Wil and Ryan discuss when to quit or let go of your startup. If your startup has struggled for an extended period without meaningful progress, causing financial strain, and lacks market validation, it might be time to consider quitting. Additionally, if the startup is taking a toll on your physical and emotional well-being, negatively impacting relationships, or if you've lost passion for the project, quitting could be a wise decision. Remember, quitting isn't always a failure; sometimes, it's a strategic move toward a brighter entrepreneurial future.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:09 Do you want to quit?
• 03:41 Would you stay in your startup if it were a job?
• 06:48 When quitting is the smart choice
• 09:08 What is quitting?
• 14:01 Deciding when to quit a startup
• 19:29 Staying for fear of failure
• 26:29 When to let go 

In today's Startup Therapy Podcast, Wil and Ryan discuss the challenge of maintaining a long-term vision in the fast-paced world of startups. It's easy to get sidetracked by short-term goals and immediate survival mode. But here's the deal: Founders need to find that sweet spot between the urgent stuff and the big-picture dream. Regularly reminding themselves why they started this journey and resisting the temptation of trendy distractions can help them stay on track. It's not about chasing quick wins; it's about building something that stands the test of time.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:08 When startups get stuck in survival mode
• 02:20 Distractions from a long-term vision
• 07:43 Confusing urgency from short-term decision-making
• 14:06 “It takes time to build a good business…”
• 16:38 Stop burning yourselves out over short-term expectations
• 19:52 Ensuring your best work without regret
• 24:42 Balancing speed and quality
• 26:36 Building something meaningful over a decade

In today's Startup Therapy Podcast, Wil and Ryan discuss if you can replace yourself as a founder. Founders often struggle to step aside in a company because their deep commitment and personal connection to the company's mission are hard to duplicate. Their passion, values, and individual perspective are tough to find in an outsider, potentially causing a mismatch in goals and values. Moreover, it's emotionally challenging for founders to entrust someone else with their vision.In a nutshell, founders can't easily replace themselves because their unique identity and the company's culture are closely linked, making it hard to find someone who truly embodies their spirit.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:35 Can we replace the founder?
• 03:02 Why changing the founder wouldn’t work
• 06:06 “You can’t hire and train passion…”
• 14:10 Know who you’re hiring
• 19:14 Wanting to sabotage the new person
• 22:08 Incentives in hiring
• 26:31 You can’t replace yourself

In today's Startup Therapy Podcast, Wil and Ryan discuss who founders are really competing against. Founders are often never satisfied because they constantly set new, self-imposed benchmarks and goals. They compete against a changing definition of success, driven by their ego and perceptions of their peers. As they reach one milestone, they quickly construct new challenges, making it challenging to ever achieve lasting contentment in their entrepreneurial journey. Finding a balance between ambition and recognizing their achievements can lead to greater satisfaction and a healthier perspective on success.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 01:24 A founder's rollercoaster of satisfaction
• 03:51 Why successful founders are never satisfied
• 05:45 Peer competition
• 10:37 The problem with comparison
• 15:25 Competing for our own safety
• 20:49 “We create a much more unsafe environment…”
• 22:36 Competitors ability to affect your safety
• 24:10 Endless chase of success
• 28:34 Ego vs. Contentment
• 33:38 Why we can’t find the finish line

In today's Startup Therapy Podcast, Wil and Ryan discuss the topic that investors and founders are not on the same side of the table. In the startup world, it's important to recognize that investors and founders don't always see eye to eye. Investors are primarily looking to make money, which can sometimes clash with a founder's vision. Balancing these interests can be tricky. Founders need to stay true to their startup's vision while also considering what their investors want, fostering a productive relationship. Good communication and finding common ground are key to ensuring the startup's success in the long run.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:08 Investors are only on the same side when everything is good
• 04:07 This is your only bet, not the investor’s
• 07:21 Guarantee of a paycheck
• 10:15 Why does it matter to be on the same side?
• 15:52 When investors believe you’re on the same side of the table…
• 17:14 Investors have the luxury of saying no
• 25:10 What’s valuable to you might be different from the investors

In today's Startup Therapy Podcast, Wil and Ryan discuss planning for the bad times and good times in your startup company. It's not all sunshine during the good times, and not all doom and gloom during the bad times. It's about striking that perfect balance in your startup's strategy. The secret to achieving longevity in the ever-shifting landscape of entrepreneurship? Continuous adaptation, vigilant monitoring of key performance indicators, and the ability to pivot when necessary, all while staying true to your business's core mission and values.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 01:59 Good and bad times aren’t just a single moment in time
• 04:31 Are founders aware of these oscillations?
• 05:45 “In good times, we plan for good times…”
• 10:04 What is longevity for startups?
• 19:04 Make decisions based on the likelihood of the outcome
• 21:03 Opportunities are planted during bad times
• 26:56 Plan for the hibernation

In today's Startup Therapy Podcast, Wil and Ryan discuss why a lower valuation exit can offer founders more advantageous financial outcomes than a higher valuation exit. This happens because of things like how much of the company's ownership each founder still has and what investors are expecting from their investments. As startups grow and get more funding, founders might end up owning less of the company. So even if an exit seems worth more on paper, the actual money each founder gets can be less due to having a smaller piece of the pie. Let’s delve into the maze of startup exits, exploring the delicate interplay between exit values, ownership, and the real-world implications.

Sign up for the Startups Newsletter

https://www.startups.com/newsletter

Resources:

• Startup Therapy Podcast 
• https://www.startups.com/begin
• Join our Network of Top Founders 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:28 Navigating funding & exit strategies
• 05:59 Optionality 
• 09:23 Outcomes can vary depending on the funding path chosen
• 13:46 Founder fatigue
• 17:53 What are preferences?
• 25:34 Protect your downside first