Startup Therapy

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about the impact of Founders feeling uncomfortable about sharing their emotions, why you are being put in the wrong light, unpacking emotions to show vulnerability, and the difference between problems and emotions.

Listen in for more tips on being an approachable Founder!

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Resources:

• https://www.startups.com/begin

What to Listen For

• 00:00 Intro
• 00:44 Founders not feeling comfortable sharing their emotions
• 04:41 The pride and ego tide into the business
• 09:55 Why focus on other aspects of your business
• 13:30 How to unpack emotions and do something about it
• 21:15 Our problems and emotions are two separate things
• 26:10 Most founders keep their vulnerabilities
• 28:14 How being open impacts founder-team relationship
• 32:19 When everyone around puts you in the wrong light

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about using passion to pursue a business, how to differentiate novelty from passion, why founder burnout is common, and why identifying your theme is important before starting a business. 

Listen in to test if you're passionate enough to start a business!

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What to Listen For

• 00:00 Intro
• 00:59 What moment turned into a passion?
• 05:02 Mistaking novelty as passion
• 08:42 The problem with purpose we all run into
• 14:14 When there’s no curiosity and passion, your role changes
• 17:13 Strategic planning: when growth is the only business metric
• 22:58 Find a theme that you’re passionate about
• 31:54 The energy in the early days can fade

In today’s episode of Startup Therapy Podcast, Wil and Elliot talk about the benefits of a hard reset for a Startup, letting go of liabilities in exchange for a fresh start, and identifying priorities when going through a hard reset.

Listen in to know why a Startup reset can sometimes help save a business!

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What to Listen For

• 00:00 Intro
• 00:47 Benefits of a Startup's hard reset
• 04:16 Outsourcing based on what may happen
• 08:19 Part of a hard reset is getting fresh talents to join the team
• 12:27 With a rest, what does the staff look like?
• 15:12 Take inventory of the stuff that didn't work
• 18:20 Businesses walking away from monthly liabilities
• 22:06 Shred expenses and cut old agreements to reset
• 25:51 Sometimes, a start over is best to be profitable
• 27:51 If you're thoughtful, can build a more nimble business
• 30:01 Some hard events push for a reset, for decisions to be made

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about why founders need to belong in a therapy group, the benefits of voicing out your worries as an individual, and setting goals for yourself, not just your Startup.    

Listen in to know how founders can effectively unload personal struggles!

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What to Listen For

• 00:00 Intro
• 00:58 How lonely are founders?
• 04:06 The things that founders can't share
• 10:22 Founders Group at Startups.com
• 14:37 How does trust develop within the founders group?
• 21:11 A group can't converse when they have differing ideas
• 28:35 Empathy for the members is equally important
• 33:03 The three questions to ask in every session
• 33:42 What keeps you up at night?
• 39:27 What do you need help with?
• 44:52 How can the community here support you?
• 47:51 Then, the founders talk about their goals
• 51:23 The point of a clarity call
• 52:35 Do you justify that every other goal is important, but yours?
• 54:43 When trust is established, the group can accomplish anything
• 56:06 Email us or visit groups.startups.com

In today’s episode of Startup Therapy Podcast, Wil and Elliot talk about how founders struggle to negotiate their compensation, what should happen in cap table discussions, and why founders should rethink how they get paid.    

Listen in to get an idea how founders benefit more from their company!

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What to Listen For

• 00:00 Intro
• 00:50 What's going through your head?
• 02:21 When it isn't worth it anymore
• 06:02 The cap table discussion 
• 09:26 When the thing you're most excited about is gone
• 11:46 Don't disincentivize employees by cramming them down
• 18:00 Have a conversation with investors to set the process you need to adhere to
• 21:25 Negotiate comp packages based on milestones
• 23:27 Founders should rethink how they get paid
• 25:12 What will make you keep working in the company?

In today’s episode of Startup Therapy Podcast, Wil and Elliot talk about spending a decade to build a business from scratch, how past success can’t dictate the next success, and why nothing matters until the end goal is reached.    

Listen in to learn how founders grow an idea into a successful Startup!

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What to Listen For

• 00:00 Welcome back to the Startup Therapy Podcast!
• 00:55 How long does it take to reach success?
• 02:28 The incubator project in 2001
• 03:39 The split in focus with multiple projects
• 07:54 How long will it take to prove a good idea?
• 10:33 Commit time to grow your company
• 12:03 Every idea is a bad idea unless you act on it
• 15:59 A problem you are willing to invest in
• 17:42 The early high-five indicators
• 18:55 What will a decade cost you?
• 22:03 "Don't work on something you don't care about." - Elliot Schneier
• 24:13 Focus and the right idea lead to success
• 27:04 Past success doesn't guarantee the next success
• 30:15 How do you explain commitment to new hires
• 31:22 Nothing matters until you reach the finish line

In today’s episode of Startup Therapy Podcast, Wil and Ryan discuss why founders should separate themselves from their Startups, the lack of predecessors to guide young founders, what else to focus on besides building the business, and maintaining individuality.  

Listen in to learn about individuality and separation from your Startup!

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What to Focus on to Get a Hit

• [00:00:32] Are we a separate entity from our Startup?
• [00:05:58] For founders, everything should have been right
• [00:10:04] There's a pattern to follow, young founders don't have that
• [00:11:24] There's a company that you do, it's not who you are
• [00:16:01] It actually isn't validation, it's a relief 
• [00:18:14] Self-inflicted prison: you get stuck in your Startup
• [00:20:06] It's not always about how your Startup is doing
• [00:23:30] What do you do when you're not building your Startup?
• [00:23:30] What can we do for other founders? 
• [00:26:33] Why is it affecting you at a personal level?
• [00:29:14] Your Startup is not who you are

Our focus in today’s episode is listening to what investors are actually saying. Wil and Elliot discuss the direct and indirect ways investors say ‘No’, the passive-aggressive questions, when founders become annoying, and how investors should behave. 

Listen in to learn how to translate what your investor is saying!

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What to Focus on to Get a Hit

• [00:00:40] Why founders can't understand their investors? 
• [00:02:24] The NO's that sound 'Yes'
• [00:06:18] Venture Community vs Angel Investors
• [00:07:11] From an analyst to a partner
• [00:09:38] Is it a yes or a no?
• [00:10:35] Understanding the user pipeline and deal flow
• [00:12:27] What happens when you press on investors
• [00:15:45] When investors are interested, they'll blow you up 
• [00:17:55] Time kills deals
• [00:19:34] If it's not a resounding Yes, it's probably a No
• [00:22:04] The tendency to annoy investors when you can't take the hint
• [00:25:12] Show investors a drastic demand in the product  
• [00:28:08] How should investors behave?
• [00:34:28] Always make a statement in a question
• [00:36:47] Education on a fairly complicated space
• [00:38:20] The passive-aggressive questions
• [00:42:00] Investors saying 'maybe'
• [00:45:10] Investors should be definitive in saying 'No'

Our focus in today’s episode is how to get a hit on your business. Wil converses with Sam Parr, Co-Founder and CEO of The Hustle, a massively successful email newsletter to help entrepreneurs make smart business decisions fast by providing information in an easy to consume format. 

Wil and Sam look back at the early stages of their Startups, how to gauge financial security, why an early start is an accelerant, tough conversations with investors, and incredible stories of successful Startup businesses.

Listen and learn how to get your first million!

What to Focus on to Get a Hit

• [00:00:07] Welcome to the show, Sam Parr!
• [00:01:18] The early days of the Hustle
• [00:03:35] The gap between expectations and reality
• [00:05:57] When you get your first million dollars
• [00:07:37] The perks of balling out
• [00:09:41] Business impacts the capitalist society
• [00:12:31] Doing things that aren't just about safety
• [00:13:42] Emotional instability, compounding level of anxiety
• [00:15:07] Possibilities changes your worldview
• [00:17:42] Success doesn't often equate to happiness
• [00:19:21] What are the goals?
• [00:22:27] What was your number for security?
• [00:25:16] How agency and non-funded businesses grow
• [00:28:24] Genuine appreciation for the hustle, for the grind  
• [00:31:54] A Man's Search for Meaning by Viktor Frankl
• [00:35:22] We're built to get stuff done
• [00:36:33] Remove the timeframe, fulfill your obligations
• [00:38:59] Tough conversations with investors
• [00:41:13] Victim mentality to get out of a bad deal
• [00:42:06] The untold hustle stories
• [00:44:32] Massive capital gains versus annual cash flow
• [00:46:09] Stories of small operations minting profits
• [00:50:28] What can you make that can last 50 years?
• [00:53:31] When early success becomes an accelerant
• [00:56:41] Four years from now, a 50 million net worth?
• [00:58:55] If you're good at setting up a startup
• [01:01:00] Hiring a person to stir the business 
• [01:04:00] The perks of financial stability
• [01:06:45] What to focus on to get a hit

Our focus in today’s episode is transparency of founders about their startups. Wil converses with Andrew Warner, an internet, startup entrepreneur and founder of Mixergy.com. On Mixergy, proven entrepreneurs are invited to teach how they built their startups. 

Wil and Andrew define the lines between genuine curiosity and transactional conversations in building relationships, how topics and answers have consequences, and getting people to open up about themselves by sharing a little bit of yours.

Listen to how transparency can affect business relationships.

Episode Resources

• Mixergy.com - “Learn from Proven Entrepreneurs”

What to Listen For

• [00:00:12] Who is Andrew Warner?
• [00:02:02] Why aren't founders more transparent about their startups? 
• [00:02:48] Why do I have to talk about the loser stuff? 
• [00:05:23] A little bit of a personal backstory.
• [00:08:15] Being open to others about your vulnerability. 
• [00:12:24] Everything has always worked until you fail. 
• [00:14:07] Nobody wants to hear how well you are doing.
• [00:15:08] If you do not have the tools of being vulnerable. 
• [00:16:16] People are always craving to be transparent of some things and hide others.  
• [00:19:01] The moment you're vulnerable, you become less defensive.
• [00:20:45] What are some areas you don't feel talking about publicly?
• [00:23:09] When one openly becomes honest and vulnerable, everyone becomes honest and vulnerable.  
• [00:26:48] Be genuinely curious to get people to open up. 
• [00:28:34] Do you need to share a little bit to get some during interviews?
• [00:30:38] Ask a double-barrel question to give some room for sensitivity. 
• [00:32:00] Being vulnerable makes building relationships faster.
• [00:34:52] Transactional relationships won't help build real connections.
• [00:38:33] Actually listen and give leading questions to actually connect. 
• [00:39:44] When people sit with you more and more, they value your time. 
• [00:44:34] Incapability of small talk, possibly a fatal flaw.
• [00:46:49] How to disarm someone so full of himself.  
• [00:52:32] Ask very personal questions to further relationships. 
• [00:57:51] The topics and answers that have consequences.
• [00:59:16] Look for topics that people do not need to defend. 
• [01:01:46] Be prepared for backfires. 
• [01:04:18] Do you wish you can take back what you've overshared? 
• [01:08:30] Tell people if you're uncomfortable sharing something. 
• [01:09:20] We connect with people with their flaws, it makes us human.