The Tippy Top

We're back with Part 2 with Mike Morgan. If you enjoyed Part 1, I guarantee  you'll be inspired by Part 2.

Part 2 lessons:

1. How to deal with investors:-

1.1. "VCs are for life, not just for Christmas."

1.2. "Keep your friends close and your investors closer."

1.3. Pick up the phone. Don't wait for Boards to speak to your investors.

2. How to avoid mistakes:-

2.1. Speak to other entrepreneurs in your investors' portfolio. They won't be competitors and should be on the same mission.

2.2. Seek counsel from others who have been through what you're going through now. They won't tell you what to do, they will just test your theories and help with decision-making frameworks.

2.3. Keep it simple. Don't over complicate your business before it's necessary. Both in terms of organisational structure and trying to automate everything.

2.4. Do everything you do for your customers.

2.5. Work hard to make yourself operationally redundant.

2.6. When you find someone better than you, hire them!

2.7. Stay on mission at all times.

3. Exits - the end game:-

3.1. Understand the journey that you're signing yourself up for.

3.2. Be ready to roll with the punches because it's probably not going to be easy.

3.3. As the founder, you might not be the person who's there at the exit. Is that okay with you?

Next week we have another super seasoned entrepreneur on the show. If you're looking for inspiration to become a entrepreneur, make sure you subscribe on your favourite channel so you're the first to know when the episode lands!

Chat then,

Alex @thetippytopblog

#podcast #learnwithalex #askalex #investoready #vc #venturecapital #vcs #entrepreneurship #startups #thetippytop #businessadvice #seed #entrepreneurs #tech #investing #investors #angelinvestors #pod #fundraising #seriesA #mentalhealth #strategy #businessstrategy #customers

We said we would have seasoned entrepreneurs on the show and true to our word, Mike Morgan from Channelsphere joins us this week to share his incredible entrepreneurial journey. A real account of what it is like being an entrepreneur rather than the glamorous veneer we frequently see in the media.

Mike has been on all sides of table of start-ups, holding all of the following titles: CEO, Managing Director and Founder, Chairman, Interim Executive, Start-up and Scale-up Advisor, NED, Mentor and Angel Investor.

Mike is a seemingly bottomless source of knowledge and inspiration. Accordingly, Mike kindly agreed to split this interview over 2 episodes to give you listeners the maximum possible benefit.

Part 1 lessons:

1. Mental health in entrepreneurship -

1.1. Find someone to talk to and make sure it's a fellow entrepreneur who can really understand what you're going through. A traditional business mentor/coach won't likely be enough.

1.2. Mental health isn't necessarily on the rise, it's perhaps more that we're allowed to talk about it. Also, you must talk about it if you want to get through the journey in one piece.

1.3. The entrepreneurial path is perhaps one of the most stressful career choices you can make. Choose wisely.

2. Why you should focus on your customers-

2.1. Don't get fixated on competitors.

2.2. Don't keep trying to build the next cool feature just because you can.

2.3. Focus on solving the problem for your customers. Find out what they love and don't mess with it. Found out what they don't love and fix or build to solve it.

2.4. Never suggest features to your customers, because it probably means they don't need them.

2.5. Define your MVP. Mission, values and purpose. Then it is imperative to "stay on mission" at all costs. Then do what your customers ask unless they are asking you to veer off course. Don't do it, even if they offer you lots of money.

2.6. Not all customers are created equal. There are bad customers.

3. The importance of outsourcing yourself -

3.1. You need to recruit well, train well to achieve this.

3.2. The goal is to make yourself "operationally redundant yet strategically indispensable." Often easier said than done though.

3.3. "Stay out of the engine room, you need to lead from the bridge."

PART 2 will be released next week. It features the following three key topics:

1. How to deal with investors.

2. How to avoid mistakes.

3. Exits - the end game.

Speak then,

Alex @thetippytopblog

#podcast #learnwithalex #askalex #investoready #vc #venturecapital #vcs #entrepreneurship #startups #thetippytop #businessadvice #seed #entrepreneurs #tech #investing #investors #angelinvestors #pod #fundraising #seriesA #mentalhealth #strategy #businessstrategy #customers

Not all VCs are created equal. Rather aptly in the midst of Cop26, this week we're thrilled to be joined by Lucy Rands from ETF Partners. Lucy's passionate for helping entrepreneurs and the planet really shines through. Lucy also shared some incredible insights about everything from pitch decks to the climate crisis and how we need to be part of the solution.

3 main topics and learnings:

1. Mistakes

1.1. Firstly good investors know that the journey as an entrepreneur is incredibly tough so know that there's a great deal of respect and admiration for what you do.

1.2 The best way to be successful is to stay focused and tell one story.

1.3. Also, spend time understanding yourself, then seek appropriate training or hire for other gaps.

2. Series A

2.1. The investor and entrepreneur relationship is often described as a marriage. It is. The main difference being that it's harder to get divorced in a start-up!

2.2. To attract Series A investors, you need to demonstrate that there is strong market pull for your offering. There are no hard rules though.

2.3. Be mindful about valuations at Seed, the biggest number isn't always the best.

3. Climate Tech

3.1. It is the trillion pound opportunity of our lifetime.

3.2. More entrepreneurs, more innovation and more growth is needed. Get involved.

3.3. Everyone needs to play their part in reversing climate change. We can't simply ask government to sort it.

Enjoy the show,

Alex @thetippytopblog

#podcast #learnwithalex #askalex #investoready #vc #venturecapital #vcs #entrepreneurship #thetippytop #businessadvice #startups #seed #entrepreneurs #tech #investing #investors #angelinvestors #pod #fundraising #seriesA #climatetech #environment #climatecrisis #cop26

Peter Walsh (ex-Match Capital) shares his deep insights about the reality of raising funds for start-ups.

3 main topics and learnings:

1. Time to fundraise: reality vs fantasy - bank on 6 -12 months and be prepared to double it.

2. Founders always raise too little and it's tough - rather get money from your customers.

3. Why start-ups fail and how to avoid it - be relentless and plan ahead.

Thanks for all your supportive comments to date. As always, please let me know what topics you want covered next.

Enjoy the show,

Alex @thetippytopblog

Connect with Peter and ThoroughBid here:

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Twitter: ThoroughBid

LinkedIn: ThoroughBid 

YouTube: ThoroughBid 

#podcast #learnwithalex #askalex #investoready #vc #venturecapital #vcs #entrepreneurship #thetippytop #businessadvice #startups #seed #entrepreneurs #tech #investing #investors #angelinvestors #pod #fundraising #peterwalsh

This episode features JP Luchetti. JP wears many hats including being a VC, founder, go-to-market expert and product guru.

You'll learn about:

Overall, you'll have simple and clear takeaways about exactly how to succeed as an entrepreneur. What's not to love?

Big thanks to JP for suggesting the topic, sharing his valuable knowledge and taking the time out of his busy schedule. Find more from JP here: https://www.whosfabio.com/ and https://www.deazy.com/ 

Enjoy the show,

Alex @thetippytopblog