Swisspreneur Show

By SwisspreneurBusiness Entrepreneurship

Swisspreneur Show episodes

September 18, 2019 EP #37 - Michael Born: Q&A On Co-Founders
Timestamps
1:49 – Do I need a co-founder at all?
2:57 – At what stage should you look for co-founders?
3:48 – Is there an ideal number of co-founders?
5:25 – Where do I find my co-founders?
6:52 – Friends/family as co-founders: yay or nay?
8:06 – Is it necessary to have previously known your co-founder?
10:45 – Does my co-founder need to be geographically close?
11:49 – What is a good test to figure out if a team works well?
14:32 – Should my co-founder be similar to me or completely different?
18:46 – How long should a co-founder take to decide jumping on board? Can they have a side job?
23:48 – What contracts/terms do you need to outline to manage the legal relationship with your partner?
26:11 – How do you split responsibilities with your co-founder? How does this evolve over time?
28:48 – Are there any KPIs you should watch for to achieve a good relationship with your co-founder(s)?
30:40 – On what aspects can you and your co-founder(s) disagree?

Biography
Michael Born is co-founder and CEO at the ETH spin-off PXL Vision, a tech startup which uses computer vision for secure identity verification. He started PXL Vision together with key employees from his previous company, Dacuda, which specializes in software 3D camera technology and was acquired by Magic Leap in 2017. Before starting his entrepreneurial career, Michael was a consultant at Capgemini, specializing in technology consulting. He holds a MSc in International Affairs from the University of St. Gallen.
40 min
September 12, 2019EP #36 - Markus Okumus: How To Hire And Manage Your Startup Team
Timestamps:
1:49 - What mistakes do Swiss startups make repeatedly when it comes to hiring and managing people?
13:08 - The diversity question
25:48 - Good startup communication
44:47 - How to strengthen your gut feeling, in terms of hiring
49:44 - Should you hire friends and family?

The Episode In 60 Seconds
People can be an organization’s biggest asset but also one of their greatest pain points. Here are some of Markus Okumus’ key takeaways:
Attracting talent
In the early stages of a company, it is sometimes difficult to attract the necessary talent without being able to offer the corresponding monetary incentives.

A charismatic, passionate founder will be able to inspire the right people to follow along on the journey.
Diversity
Diverse teams are more successful, so keep an eye on this score.

If diversity happens organically, great. If hiring in your network means you only have people who look like yourself around you, you might want to rethink your approach.
Hyper-growth
Every time you triple your number of employees, you have to re-imagine your entire structure.

Some people are unable or unwilling to grow with the company. Don’t be afraid to let them go.

If you grow to be a $ 100m revenue company, you’ll need someone who has experience with leading such a company.
Values
Your values should be more than a subsection on your website.

Clearly define them and make them visible everywhere.

Justify your decisions in terms of your values. Your employees will start to identify with and be proud of them.
57 min
September 05, 2019 EP #35 - Markus Okumus: An Entrepreneur’s Secrets To Selling Two Startups
Timestamps
1:53 - How Markus got involved with students.ch
21:49 - How to manage several business at the same time
25:13 - How to scale up very fast
38:25 - Why Markus started his investment company
47:12 - When should you actually move your startup to San Francisco

Biography
Markus Okumus is a serial entrepreneur with two successful exits in Switzerland. In 2007, his first venture, students.ch (part of Amiado Group) was acquired by Axel Springer. Only a year later, he started Fashion Days which came to be one of the leading fashion e-commerce businesses in Eastern Europe and was acquired by Naspers in 2015. In 2016, Markus started Baze, a provider of personalized nutrition supplements. Baze closed their series A round with $ 6m in August of this year.
Next to his own ventures, Markus is also active as an investor in his role as founder and partner at Canopei, an investment firm focusing on early-stage preventive, and consumer-centric health and wellness companies.
57 min
August 28, 2019 EP #34 - Pascal Mathis: Q&A About Early-Stage Fundraising
Timestamps
1:53 – What are some questions every founder should ask themselves before fundraising?
4:13 – How do you determine what is smart money for your business?
5:08 – When is the ideal time to find investors (not FFF)?
6:08 – After how much revenue did you start to look for investors?
9:17 – How can I estimate how much my startup is worth before starting the first financing round?
11:21 – What if you get a down round?
11:54 – How can you get your foot in the door with a potential investor?
15:38 – Where do I meet great investors in Switzerland if I don’t have a network yet?
16:28 – How do I best present my business idea/plan?
21:52 – Do you need a lawyer to create a term sheet?
23:28 – What are the key terms on a term sheet?
26:21 – What is the best practice of vesting schedules?
28:15 – How do you deal with uncertainty?
29:27 – How should you report to investors and work with them?

Biography
Pascal Mathis is Co-Founder and former COO of GetYourGuide. After he left the company in 2013, he joined Google as an Industry Manager. Subsequently, he dedicated his career to startup coaching and early stage investments as a co-founder and partner at Wingman. Pascal is also an accredited coach for InnoSuise and sits on the advisory board of the Swiss ICT Investor Club. He holds an MSc in Electrical Engineering from the Swiss Federal Institute of Technology in Zurich (ETHZ).
36 min
August 21, 2019EP #33 - Alex Fries: Your Jobs As A Startup CEO
Timestamps
2:43 - Why start a company in Switzerland after studying in the US
10:00 - How to scale up in 3 years
22:15 - From founder to investor
31:37 - What the entrepreneurial spirit should be like
36:58 - Is age a factor?

The Episode In 60 Seconds
The role of a startup CEO is challenging and ever-changing. These are some of the tasks you should be ready to tackle in the initial stages of your company:
Early stage
Fundraising
Getting the money to grow your company will probably take up the largest part of your time. While painful in the beginning, the tables can quickly turn as soon as you can show a promising funnel of clients or other signs of market traction.

Sales
In an early stage company, the CEO is usually the best sales person because they bring the passion needed to convince customers of a vision without a product.

Hiring
Aim for a good mix of experienced employees and recently graduates.

Don’t be afraid to poach the talent you need from other companies

Working at your company should be more than just a job for your employees.

Make noise
In order to be successful, you have to become part of the language for your customers, analysts, VCs, the press, etc. This doesn’t just happen but is the result of

After A-round
Setting up a company board of directors
An ideal composition could be: 2 founders, 2 investors, 1 neutral person

Increased reporting duties to investors and the company board
Monthly reporting of the relevant KPIs (cash in the bank, burn rate, sales funnel, etc.) is ideal. It pays off to be well organized. Investors will usually keep asking similar questions, so having your documentation ready and up-to-date will make your life easier.

Handling people and their problems
As the company grows, the role of the CEO becomes increasingly managerial, which means handling employees and their issues.

Managing cash for growth
It is easy to overspend once there is some money in the bank. It’s the CEO’s task to keep as much money as possible in the company for growth and to keep an eye on the burn rate, in order not to miss the right moment for the B-series.

After B-round
Evaluate your contribution to the company
After the B-round, your company will have likely grown significantly and you are ready to expand into new markets. This is usually a good time to take a step back and ask yourself if you are still the right person for the job. Some entrepreneurs prefer growing things over running them. In this case, it might be the right time to find an experienced manager from a large company to take over your role.
39 min
August 14, 2019 EP #32 - Alex Fries: Selling Two Startups For Several $100m In The Same Year
Timestamps:
2:03 - Why start a company in Switzerland after studying in the U.S.?
9:15 - How to scale up within 3 years
21:22 - Going from founder to investor
30:42 - What the entrepreneurial spirit should be like
35:58 - Is age a factor, in the startup world?

Biography
Originally from the Swiss Canton of Graubunden, Alexander Fries moved to San Francisco in 2002 in connection with a tech startup (SVOX AG) he had co-founded in Switzerland. Today, Alex is one of the most renowned Swiss venture capitalists in Silicon Valley. SVOX AG was acquired by Nuance Inc. in 2011 and Playspan Inc., another startup Alex co-founded, was sold to VISA the same year. In 2005, he founded Ecosystem Ventures with the specific goal of supporting European early-stage tech companies and bringing them onto the American market. He is also a partner at Alpana Ventures, a Swiss VC firm which supports startups in making the bridge into both the American and the Asian market.
46 min
July 23, 2019 EP #31 - Frank Thelen: From Failure To Success
Timestamps:
1:54 - Going bankrupt as a young adult
12:18 - Key values for founders
15:39 - When to drop a business venture
17:23 - VC funding or bootstrapping?
18:55 - Europe's role in the global startup scene

Biography
Frank Thelen is the Co-Founder and CEO of Freigeist Capital (formerly e42). He is however best known for his role on “Höhle der Löwen”, a German reality TV program where founders pitch to senior venture capitalists for fundraising. Since the early 90’s, he has founded more than 10 companies, most with a strong focus on innovative technology. One of his first ventures, Twisd AG, had to file for bankrupcy in the wake of the bursting “dotcom“ bubble. Based on this experience, he published his autobiography “Startup-DNA – Hinfallen, aufstehen, die Welt verändern” which became a bestseller in Germany. Frank has also had an active role in German politics as one of the leading members of the German Innovation Council.
27 min
July 16, 2019EP #30 - Renato Stalder: Financial Advice For Early Stage Startups
Timestamps
1:53 - What mistakes do Swiss Startups make repeatedly regarding their finances?
4:11 - When should you decide to hand your accounting to someone else?
16:05 - Insurances, deductions and fees to take into account
34:06- What to do when a customer doesn't pay the invoice
44:05 - Where to find the right financial partners

The Episode In 60 Seconds
When it comes to finances, the mantra is “never procrastinate”. Here are the most important points to start off on the right foot:
VAT (Value added tax)
VAT is a self-declaration tax, meaning you will not get a declaration form but have to submit it yourself on a quarterly basis.

You have to pay VAT if your business generates more than 100k in revenue for the entire year.

If you import software from abroad, you have to declare VAT as if you imported goods.
Payroll
Be aware of mandatory fees and deductions
Mandatory fees: old-age pension (first pillar/ AHV), accident insurance (UVG), family allocation (EO), 2nd pillar (BVG) if you earn above 20k, unemployment insurance (ALV).

Non-mandatory but recommendable: insurance for salary payments in case of sickness (Krankentaggeld-Versicherung). The insurance covers the employees salary after a certain time on sick leave (usually 60 days).
Invoicing
Always invoice as fast as possible.

30 days payment period is customary but not mandatory.

Try to inquire with the customer about the problem first before you consider debt collection in case of an outstanding payment.

Pay your own bills at the end of the payment period.
Accounting costs and tools
Try to do as much as possible by yourself and then get feedback from an accountant.

Use a good software tool and choose a bank that integrates with it (for software tools you can check this list).

A year-end review of your work by an accountant should cost something in the range of 1.5 to 4k.

If you employ more than 10 people, you have to undergo an external audit which will cost you another 1.5 – 2k.
56 min
July 03, 2019EP #29 - Christian Meisser: Legal Advice For Early Stage Startups
Timestamps:
1:50 - What mistakes do Swiss startups make repeatedly when it comes to the legal aspect?
10:54 - How to get out of a tricky contract
26:30 - How to handle investors
40:00 - HR: attracting and retaining talent
48:50 - Should you have a strong legal partner on your side?

The Episode In 60 Seconds
There are 5 legal areas every startup should have covered:
Corporate law
Have a clear agreement in place of how the departure of a co-founder would be handled.

Critically look at shareholders agreements and make sure you understand the implications in case of an exit.
Contract law
Make sure that any IP produced for you by a third party will also belong to you.

Always read contracts before signing. In the B2B business, there is no 30 day return policy.

Ensure liability caps on sales contracts in case your product causes unintentional harm to your client.
Regulations
Be aware of how tougher privacy and data protection laws affect you and your business model.

Know which sectors you need special licenses for.
HR law
Make sure your employee contracts contain a provision for IP created by employees.

Sign any employee contract by hand.

Consider employee stock option plans.
Intellectual property
Software is usually protected by copyright rather than patent law. The only way to effectively protect your code is by not disclosing it.

For hardware, be aware of existing patents and consider patenting yourself.

Consider protecting your company name if it is crucial for your business.
1 hr 11 min
June 18, 2019 EP #28 - Iman Nahvi: B2B Marketing Framework For Startups
Timestamps:
2:10 - Mistakes Swiss founders make repeatedly when it comes to B2B Sales
12:37 - How to determine your target clients
22:22 - Where to look for leads
36:20 - How to close a deal faster
42:43 - What KPIs to focus on

Biography
Iman Nahvi is the co-founder and CEO of Advertima, a company which uses AI for consumer engagement on physical channels. At Advertima, Iman implemented a holocratic organisational structure, meaning (among other things) equal pay for all employees and a broad distribution of decision-making power. In 2017, Advertima won the “Coolest Startup Award” at the WorldWeb Forum.
Before starting his latest venture, Iman had founded various other companies, such as Digital Delight and Taxi Frosch. Iman holds a BA in Banking & Finance from the University of Zurich and an MA in Entrepreneurship from the University of St. Gallen.
52 min

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The Swisspreneur Show is a podcast series of in-depth, candid conversations with some of Switzerland’s most successful founders, business leaders and innovators. By getting to the heart of these…