Startup Therapy

In today’s Startup Therapy Podcast, Wil and Ryan talk about the cost of raising a capital. Yes, additional funding is a good sign of progress, it’s a sign that the company has potential to grow because people invested money in it. Yes, it is a milestone most founders want to achieve. The downside, however, is that you are no longer alone when making decisions. You are no longer the owner. You become another ‘employee’. 

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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
• 00:53 Challenging the common narrative of raising funds
• 03:32 What are you giving up when you raise funding?
• 08:57 When the founder doesn’t feel comfortable
• 13:02 Investors will defend their money first above anything else
• 17:10 It’s not our company anymore
• 23:09 The only positive side of raising capital

In today’s Startup Therapy Podcast, Wil and Ryan talk about what it’s like for a Startup to stall. We are all so used to the idea that we need to keep creating a momentum for our business to reach goals, to hit target numbers, and possibly please our investors. Yet, many, if not all, Startups stall, growth slows down and revenue is almost non-existent. It’s normal and you gotta learn how to navigate out of these phases to achieve sustainable growth.

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
• 00:34 How should we handle a stall?
• 06:02 We naturally stall for a bit
• 11:59 Investors just love new stats
• 18:00 Live by the hype, die by the hype
• 27:58 Companies that were founded as second acts
• 31:21 How do investors think about the ebbs and flows?
• 33:50 Once investors see real growth, their opinions change
• 35:19 When nothing is being expected of you at the moment
• 38:20 It’s not just growing for the sake of growth
• 43:57 Building a Startup is a rollercoaster journey
• 45:26 It depends on why you’re stalled
• 49:45 Any decision made to satisfy someone else is bad decision
• 52:24 Do you need funding right now?
• 55:36 Founders tend to be an expert on a lot of things

In today’s Startup Therapy Podcast, Wil and Ryan talk about the possibility of firing your employees for a restart? Let’s put it this way. The people in your team when you started may not be the right people now that your business is growing. The skills that they currently have may no longer fit the roles you need to continuously push your team forward. Everything changes, all things evolve, skills must upgrade. What about your people?    

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
• 00:19 Every founder has had a reset moment
• 04:37 The person you hired before may not be the best person now
• 09:31 What roles will not hire again?
• 13:18 Directional changes do happen
• 17:42 The compensation for every role
• 21:26 Managing is a very different job
• 24:56 Who should you rehire?
• 30:36 What roles are the best way to use your resources?

In today’s Startup Therapy Podcast, Wil and Ryan talk about being at the peak of our opportunity. In our early years, when we fail to succeed in growing our Startup, it’s okay. We can take a breather, regroup, and then start again. When we’re already in our mid 40’s and 50’s (or older), screwing up comes at a high price. A restart may no longer be possible. On a positive note though, with age, we get to stack up on experience, knowledge, and skills needed for business 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
• 000:43 What if we are at the peak of our opportunity?
• 06:02 That moment when we strike lightning
• 10:42 Be pragmatic
• 14:44 Do not mess with your downside
• 20:54 In our 20s, we don’t consider risks like we would in our later years
• 25:43 In our older years, we can’t screw up

In today’s Startup Therapy Podcast, Wil and Ryan talk about the likelihood of founders taking money off the table. Is it possible? Could be if the company has the potential of exponential growth in a short period of time. Is it doable? Most definitely if the means the company has the resources and manpower to get things done fast. But the possibility of being able to take money off the table is close to zero for most founders. You have to show proof that you can perform and you’re staying for 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
• 00:07 There’s a lot of talk about founder liquidity
• 03:19 No discussion with investors about taking money off the table
• 08:37 The upside founders always wanted
• 15:09 It is not an easy ask
• 19:48 You should be able to have the conversation of who to ask
• 23:56 Let’s flip the roles here
• 26:32 What investors should be mindful of
• 31:05 Equity represents the future value of the company

In today’s Startup Therapy Podcast, Wil and Ryan talk about being leveraged and how it affects Startup growth. Early on, founders tend to believe that choosing an investor is an option. Yes, this is possible for people in the top 5 percent or those that haven been in this route more than once. But if you belong in the other 95%, which most of us are, we don’t get to choose. We get lucky when someone takes interest in investing in our Startup. So wise up and ‘choose’ well!

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 
• Send an email to [email protected] 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:33 How much choice do we really have as founders?
• 02:37 It’s a privilege to be able to choose your investors
• 08:40 The real point of leverage
• 13:33 Sometimes time is what you need for leverage
• 18:21 Creating a healthy work-life balance isn’t simple for founders
• 25:31 You only get one or two options
• 27:21 When the money is not worth it
• 29:47 Are there other options to saying YES?
• 32:16 Getting investment is easier for second-timers
• 36:38 Putting your chips on one person
• 38:31 Have clear goals and expectations
• 40:50 How we are knowledge leveraged
• 44:19 Why did you feel the need to have a cofounder?
• 48:04 Is having a cofounder a necessary requirement?  

In today’s Startup Therapy Podcast, Wil and Ryan talk about not thinking too much about what other people think. Our emotions are always valid especially when our ideas aren’t appealing enough or when our Startup fails to gain any momentum. We always worry about what other people might think of us and how they will see our failure. But the truth is, no one will remember. No one will care. No one, but you. So, dust it off and start creating a new narrative!

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 
• Send an email to [email protected] 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:43 When we go through these moments of failure
• 05:00 Founders dwell too much on what others think
• 16:24 No one actually remembers
• 21:40 Over some time, people will barely remember
• 26:54 Always create a new narrative
• 29:52 There is always a way forward
• 32:57 2 steps at telling a better narrative 

In today’s Startup Therapy Podcast, Wil and Ryan talk about founders not taking risks. When you get stuck in one place, getting comfortable at where you are at right now and not taking swings because of the fear of missing a hit, then growth becomes a long shot. Successful Startups did not succeed because they fear failure. Success comes when the founder keeps taking swings and managing failure as they come because they’re focused on getting a hit!

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 
• Send an email to [email protected] 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:17 Why are we afraid to take big swings?
• 03:38 Is it a lie when you have the intent to back it up?
• 09:48 Will you be able to back up your commitment?
• 13:40 Take a big swing and manage failure
• 21:03 Doing nothing will only lead to a slow demise
• 25:09 The other side is you swing and hit

In today’s Startup Therapy Podcast, Wil and Ryan talk about founders with no more upside left. Having new investors is good. Stacking up more funds to expand the company is good. Although it can turn dreadful real quick when as a founder you are left with no more room to grow. You get stuck in one spot, doing the same rigorous task day by day without any promising gains at all. Wouldn’t it be better if you get enough funding and still have more control over the decision making and better incentives?

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 
• Send an email to [email protected] 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:11 The average founder surprisingly only earns a single digit
• 08:28 The two separate roles: the founder and the owner
• 12:24 We keep assuming we’ll get incentives externally
• 20:08 Politics 101 during board meetings
• 25:08 We have to rely on consequence  

In today’s Startup Therapy Podcast, Wil and Ryan talk about the real definition of retirement. Is it going on a vacation one after another in your 60s? Is it pursuing your love for woodwork and making a living out of it? Or perhaps starting another business using your retirement funds? Whatever it may be, what matters the most is you get to do what you love doing but this time with less stress, less pressure, and time isn’t measured.

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 
• Send an email to [email protected] 
• Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

What to Listen For

• 00:00 Intro
• 00:35 Things you plan to do upon retirement
• 09:00 When you don't have something, having it is extra special
• 17:34 The only reason it becomes special is because you can't do it
• 23:38 "Responsibility is defined differently in retirement." - Donna
• 26:14 "I don't think we want to fully retire." Andreas
• 30:09 "You're never going to retire." Justin
• 30:50 "Removing that 'need' makes a difference." - Richard
• 33:09 "Independence to eliminate energy, time, and attention in the majority of things you want to do." - Jack
• 35:44 "Retirement should allow for a bit more free schedule." - Lindsey
• 39:57 "There is no real retirement." - Lou
• 43:00 "Do a little more of what you're doing with less pressure." - Kathryn