Ragnar Sass built Pipedrive up to a billion dollar exit - but how does it work? Which KPIs are important for this, how do I manage a clean cap table as a founder and how do I deal with investor feedback on my KPIs?

We talk about concrete numbers, mistakes in hiring and cap table management from Ragnar's last years and why he is now rethinking employee ownership with Salto X.

What you'll learn:

What opportunities are there in a market that seems saturated?

What processes and skills did the Pipedrive team have to develop on the way to becoming a Unicorn?

When do you have the chance as a founder to turn an investor deal with bad terms in your favor?

What tricks of the recruiting trade have made Pipedrive successful?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:02) How did you get into startups and what did you do differently than other founders?

(00:07:58) How do you define the right moment for you to pursue your projects and dreams?

(00:10:03) Did you develop a different solution for the same problem because the market needed it or because you didn't want to compete with the big players in the market?

(00:15:36) When did you realize you needed to upgrade your work to scale Pipedrive and what processes and skills were involved?

(00:25:05) What has changed at Pipedrive along the way to becoming a Unicorn?

(00:30:37) What KPIs were important for you guys to increase revenue?

(00:35:10) Cap Table: What is important and should definitely be considered?

(00:39:07) How do I turn down a deal with bad terms and then turn the terms around to a better position?

(00:45:48) What's wrong with employee ownership or what can go wrong?

(00:50:34) How do you approach employee ownership better?

LinkedIn: https://www.linkedin.com/in/ragnarsass/

SaltoX: https://www.saltox.co

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Amir Salihefendic completely bootstrapped doist and didn't bring in any investor money even at the market high of 2021 - but why not? In this episode you'll get a deep insight into bootstrapping mindset and the art of keeping a huge market success alive without outside help.

Todoist is probably the best known product of the group and has more than 5 million users.

Basically, I find it exciting that Amir has almost no meetings and doesn't just rush from appointment to appointment. Definitely exciting insights into the life of a CEO who does things differently.

What you learn:

Why does it sometimes make sense to fully rely on bootstrapping instead of bringing VCs on board?

Why is it important to keep an eye on revenue per employee and make it the most important KPI in the company?

How does Amir manage to get by without meetings?

How do I communicate within the team when I don't have meetings to do so?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:30) How did you get into starting up and why did you start Todoist?

(00:03:55) How important is it to be a power user of your product and when did a side hustle turn into a solid company?

(00:08:43) How do you manage growth and revenue when a majority of users could theoretically be free users forever?

(00:11:39) How did you have to adapt processes and structures of the company after you started targeting more B2B?

(00:15:29) You pay a lot of attention to revenue per employee - can you give us deeper insights into when and why that became an important KPI?

(00:20:16) Give us a crazy story from your career.

(00:22:23) What were the biggest challenges in bootstrapping?

(00:24:47) When did you feel you had achieved Product Market Fit?

(00:28:04) You probably could have raised millions in the 2021 market for faster growth, but decided against it. Why?

(00:32:33) How do you define a productive company?

(00:34:32) What is your daily and work schedule?

(00:39:31) What tips do you have for prioritizing meetings (when are meetings useful?)?

(00:42:08) What does the right ambition/incentive look like for you to build a business?

(00:47:39) Should IPO be the final goal for any company?

LinkedIn: https://www.linkedin.com/in/amix3k/

doist: https://doist.com/

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Dennis Crowley founded Foursquare and is one of the most blatant insiders of the last 20 years. Originally known as a consumer product, the company now does more than $100M in revenue with B2B licensing. Dennis sold his first company to Google and dubbed it a failure. That's why he turned down Mark Zuckerberg's offer to buy the second company.

After pivoting the business model to B2B, Dennis knew he didn't want to be CEO anymore. He picked his successor in Ben Horowitz of a16z.

After Foursquare, not planning to start up again. Together with two outstanding co-founders, he is now responsible for the product of Living Cities, with which they want to create the interface between the real and virtual world...

A very open and honest conversation about Imposter Syndrome, Challenges and at the same time a lot of experience from Dennis Crowley.

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

What you learn:

As a startup, can I gear up for virality?

As a successful CEO, how do you find a successor who will run the company well and decouple yourself more from the company?

Why is the inner child important in making serious business decisions? Why should you never take yourself too seriously?

What moves a founder to stick to his idea even though the entire environment rejects it?

How does Dennis deal with impostor syndrome (spoiler: he has it every day)?

(00:01:51) What were the most difficult decisions you had to make as a person and as a CEO/Founder?

(00:05:47) Growth issue: where is the sweet spot between being prepared for growth and being overwhelmed?

(00:08:55) How do you approach product building and what role does a good reputation play - does that build pressure?

(00:13:45) In development and product development, where is the best balance between data-driven decisions and gut decisions?

(00:19:16) Can you explain the pivot from Foursquare?

(00:24:32) How did you find a suitable successor for your CEO position and what was the process like?

(00:28:58) What convinced you to start a company again, even though a few years ago you said you didn't want to? What does Living Cities do?

(00:32:56) What do experiences mean to you?

(00:36:57) Why did you stick with your business idea even though you were initially rejected by everyone around you?

(00:40:41) What are your hypotheses about future experiences of people, related to Living Cities?

(00:47:36) How important is it to not lose or consult your inner child when making business decisions and product building?

(00:51:33) What people and mentors have inspired and helped you on your startup journey?

Dennis Crowley

LinkedIn: https://www.linkedin.com/in/dpstyles/

Foursquare: https://foursquare.com/

Translated with www.DeepL.com/Translator (free version)

30+ awards für company culture and a lot of learnings in capacity building and leadershipment – that is what Robert Glazer brings into the interview. He wrote three books and shares all of his knowledge, so that you can start your personal development as a leader and elevate your team.

What you’ll learn:

How to be a good leader for a remote team or a physical one

How to hire exactly the people your company needs – without telling them you are “that one company” with “that important values”

How to build team capacity and a good matching, divers team

Which qualities are often overlooked when it comes to leaders?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:00:58) How did you get into writing books? What was the process, what's your story?

(00:03:41) How is personal development as a leader different from creating a framework to see your team grow?

(00:06:23) How do I decide if I want a remote team or not? Where do leadearship styles differ?

(00:08:52) What makes a good leader and how honest do you need to be?

(00:10:35) How do you define capacity and what should I consider as a leader when building capacity?

(00:15:21) Do I need to look for a leader who has a good leadership style or one who fits my values?

(00:17:48) How do I build a good team before I build capacity and how important is diversity?

(00:23:24) How do I build capacity for my team and how individual/general do I go?

(00:25:41) How do you define culture and how do you make sure everyone knows how important it is?

(00:28:56) How do I find candidates that fit my company values?

(00:31:34) What leadership traits are often overlooked?

(00:33:22) Who is your new book written for and what can the reader expect?

Robert Glazer

LinkedIn: https://www.linkedin.com/in/glazer/

Acceleration Partners: https://www.accelerationpartners.com/

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Sanchan Saxena was one of the first employees at Instagram, then led product management at Airbnb, and then was responsible for everything consumer at Coinbase.

What you'll learn:

How do the product strategies of Kevin Systrom (Instagram), Brian Chesky (Airbnb), and Brian Armstrong (Coinbase) differ?

What qualities do I look for in product management?

How do I test a senior executive in product management?

What skills does a good product team need and how do I select the right people for it?

Do products always have to be developed in combination with customer feedback or is the intuition of the founders enough?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:14) What excites you about product management?

(00:03:19) What does good product management mean?

(00:08:07) What are the biggest mistakes and misconceptions of product management that you have encountered in your career?

(00:10:44) Balancing data and intuition in product development.

(00:12:37) How do the product strategies of Kevin Systrom (Instagram), Brian Chesky (Airbnb), and Brian Armstrong (Coinbase) differ?

(00:19:01) Are there only the two options: Either total product management nerd or very aten-driven?

(00:22:48) Which metrics should I measure in product management, which ones shouldn't I, and how do I build meaningful structures for that?

(00:27:24) How do I best prepare my product for scaling?

(00:30:51) How do I manage a product team properly?

(00:35:29) What qualities make up a strong product team?

(00:40:38) How do I decide whether to hire a senior or someone who prefers to get their hands dirty and really get involved?

(00:42:48) Best practices in hiring product teams.

(00:47:03) What are the biggest challenges when I want to scale a product-based business?

(00:52:29) How do you find the right pace to embrace growth, challenges, and opportunities without going under?

(00:59:46) Of all the people you've met over the years, who have inspired you the most? Did you have a mentor?

Sanchan Saxena

LinkedIn: https://www.linkedin.com/in/sanchans

Kison Patel created Dealroom.net, the solution for corporate transactions as a tool, without investors. Over the years, he has additionally launched MA Science, an educational brand for the Mergers & Acquisitions (company acquisitions) space, and has shaken up the scene.

What you'll learn:

What problems are really worth solving with a product or software

Pricing of software solutions (Dealroom sometimes charges more than 100.000€ per year from customers)

The challenges of team building and organizational structure

How not to forget to develop yourself in between all the problems of building a company

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:04) What brought you to the M&A field and why are you still in it?

(00:04:41) Why do you tend to work with smaller deals and what is the challenge behind large deals?

(00:08:49) What are the most important learnings from founding and existing DealRoom and why did you build a content brand on top with M&A Science?

(00:19:24) What is the right balance between innovation and products based on customer feedback?

(00:21:33) How do you find the right relevant problems for your target audience and prioritize like you do the existing problems?

(00:28:23) You are 50 employees today - what challenges did you face on the way to becoming a team and a structured organization?

(00:36:40) How have you personally evolved as the company has grown and what challenges have been most difficult?

(00:43:19) How do you structure your projects and how far along does one need to be before you can start something new?

(00:49:17) How do you go about pricing your products?

(00:52:56) What is your ultimate tip for founders?

Kison Patel:

LinkedIn: https://www.linkedin.com/in/kisonpatel/

M&A Science: https://www.mascience.com/

Finding Focus, User Engagement at Any Cost & The Social Dilemma - Nir Eyal, bestselling author.

Nir Eyal is internationally known for his books "Indistractable" and "Hooked".

What is actually the difference between habit-forming and addictive products and what is our responsibility as a founding team here? 

Additionally, we talk about how you deal with distractions in your everyday life and develop focus. Nir, by the way, was interviewed for "Social Dilemma" on Netflix for over three hours. He also tells you why he still only ended up in the credits, but not in the film.

What you learn:

As a founder, do I have to intervene if I notice that my product is leading to unhealthy overconsumption among users?

As a founder, how do I keep the focus on my projects and prevent external triggers from determining my time allocation?

The Social Dilemma: Just window dressing?

How concerning is it that bad habits like alcohol consumption are laughed at rather than criticized because it's considered normal?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:34) Who did you write your books for and what is the message?

(00:04:11) As a founder:in, what responsibility do I have to the user:in terms of consuming my product?

(00:09:18) How much can I leave users:in to their own responsibility to use my product and should I include safety elements in my product?

(00:17:07) How do you feel about the fact that too often overconsumption (e.g. alcohol) is laughed at rather than criticized because it is "normal"?

(00:21:16) Is too much self-optimization unhealthy, even if you are happy with your situation?

(00:23:49) What levers can I move if I feel too much outside influence is affecting my focus on my own projects?

(00:29:09) How important is repetition when you want to tackle things and make them happen, and how do you get rid of external triggers that distract you?

(00:38:32) What is your perspective on the topic of To Do - Lists?

(00:44:42) How does your knowledge of focus and productivity influence your work as an angel investor?

Nir Eyal

LinkedIn: https://www.linkedin.com/in/nireyal/

Website: https://www.nirandfar.com/

Alexander Langholz is CFO at Cherry Ventures and has previously supported various IPOs for years. He talks to Fabian about the business as CFO of a venture capital fund, IPOs and fundraising strategy.

What you learn:

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:05) How do the current market changes affect a seed VC company like Cherry Ventures?

(00:04:11) As a CFO, what data and information are you most interested in about the companies' portfolios?

(00:06:10) What indicators do you use to tell if companies are well positioned?

(00:06:45) Why has the relevance of profitability changed so much?

(00:08:52) If you are now supposed to get to faster profitability with less money - is that as contradictory as it sounds?

(00:10:53) What needs to change for IPOs to matter again?

(00:14:15) How do you make it clear to startups that the growth valuations of recent crisis years are no longer attractive now?

(00:16:36) As a fund, have you had to reevaluate your portfolio and adjust it to market conditions?

(00:20:41) Do you communicate to the founders when the paper value of the company is adjusted?

(00:21:01) What are the challenges of being a CFO at a venture capital firm?

(00:23:32) How would you estimate the market will be in 2023?

(00:26:30) As an entrepreneur, when do you realize that you are ready for an IPO or that you should think about different financing/exit strategies?

(00:31:40) Differences between an IPO in Germany vs. the U.S.

(00:32:51) When do I hire a CFO?

(00:36:34) Is it okay to look for an interim CFO first?

(00:37:32) How do I recognize a good CFO?

(00:39:11) How would you currently structure a financing round from a founder's perspective?

Alexander Langholz

LinkedIn: https://www.linkedin.com/in/alexander-langholz-baikousis-905b193a/

Cherry Ventures: https://www.cherry.vc/

WHATSAPP NEWSLETTER:

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With over 450 investments in early-stage startups, Marvin Liao is one of the most active investors in the world,

In the podcast, we talk about how you recalibrate as a founder to see if you're on track. Marvin often sees with his portfolio companies that founders assume too much that it only affects others and don't want to perceive that the market situation affects them too...

What you learn:

In what ways are people currently investing differently? Who is currently getting money??

Why is it super important to get outside help in tough times?

How do I communicate to my team and investors when I realize we are in crisis mode?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:23) You've made over 450 investments - what were the most unusual ones from a VC perspective?

(00:02:30) What should founders be prepared for in 2023?

(00:04:41) To what extent do I need to revise milestones and plans for my next round of funding?

(00:05:59) How likely is it that the million-dollar rounds from previous years will be repeated this year?

(00:06:25) How can I make sure I survive in 2023 with the money I took in from previous years?

(00:08:12) How unprepared are the founders currently and what are the consequences?

(00:9:18) How can founders determine if they are prepared for the next crisis year?

(00:12:33) Is everything bad in the current market situation or are there also positive points?

(00:14:07) How should I approach my fundraising to have a meaningful survival strategy for the current market?

(00:17:38) Who can Green:ers turn to for help and advice in times of crisis?

(00:18:48) What thoughts do I need to have before a funding round???

(00:20:44) Application example for crisis fundraising.

(00:24:13) Why are corporate culture and communication so important?

(00:26:42) As a founder:in, how can you try to keep a level head and not rush into anything?

(00:28:21) How do you communicate (internally & with investors) when you realize that the company will not survive the next phase?

(00:30:48) What is the best way to communicate problems???

(00:36:00) What are your goals in VC work and how are they evolving in light of what's happening in the market?

(00:38:48) Has your way of investing and evaluating changed with market conditions and how do you continue to achieve successful investments?

(00:40:45) What is the best way for European founders to build an international business?

(00:41:33) What advice do you often give but find difficult to follow yourself?

(00:44:27) Your final words to the founders who are listening

Marvin Liao

LinkedIn: https://www.linkedin.com/in/marvinliao/

Diaspora Ventures: https://www.diaspora.vc/

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Mike Janke has built Datatribe, one of the best data science and cyber security venture studios globally.... His experience with Special Forces helped him build the company - but how? We talk about team leadership, growth stage, when your Head of or VPs shouldn't grow with the company and how to teach them to go easy on themselves.

What you'll learn:

How good team building works and whether you always have to herd experts.

If you are planning an exit - how should you prepare your team and business for it?

Why do they say companies are bought and not sold?

How do you find the right VC for your company and how do you communicate changes between stages?

How do you communicate to executives that they are not right for the next stage of the company?

ALL ABOUT UNICORN BAKERY:

https://zez.am/unicornbakery

(00:01:08) What is Datatribe?

(00:09:14) What does a good team look like to you, even with the background knowledge of team building in Special Forces?

(00:14:37) Skills vs culture fit: how can I tell which employee is a better fit for my company?

(00:19:29) Why not delay or postpone decisions for too long?

(00:24:13) How do I communicate with my VPs and managers the nextphases of the company, even if they may no longer be right for the tasks, without them feeling attacked?

(00:28:41) What role do company culture and revenue play in key personnel decisions?

(00:34:55) How do you approach an exit internally and how do you communicate a possible sale or exit with your team?

(00:40:26) How do you identify the VC that will "benefit" your company the most and move you forward?

(00:43:23) How important is money really and how do I find the right one for my business among all the supposedly good VCs?

(00:47:29) What is the role of the investor and the VC's respective partner?

(00:50:55) When does ego help me build a good company and at what point is it too much ego?

(00:54:31) Mike's last words for the audience?

Mike Janke

LinkedIn: https://www.linkedin.com/in/michael-j-a79327/

Datatribe: https://datatribe.com/

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