Startup Hustle

In this episode, Matt Watson interviews Rajiv Nathan, the Startup Hype Man, who shares insights on how to pitch a startup to investors and customers effectively. Rajiv discusses his journey from a marketing background to becoming a pitch expert, emphasizing the importance of understanding the pitch landscape beyond just raising capital. He introduces the K-PASA formula for crafting elevator pitches and highlights common mistakes founders make, such as focusing too much on features rather than the problems they solve. The conversation also covers actionable steps for creating compelling pitches and the pricing structure for Rajiv's services. TakeawaysFounders often struggle to articulate what their company does.The best pitches focus on the customer's problem, not just features.Rajiv's K-PASA formula helps structure effective pitches.Investors want to see how you communicate with customers.Common mistakes include being overwhelmed with information and using jargon.A strong elevator pitch can open doors to further conversations.Lead with emotion to engage your audience effectively.Tailor your message to resonate with your target audience.Your pitch should evolve as your company grows and changes.Effective messaging can significantly influence investor interest. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Learn more about Startup Hypeman here:http://www.startuphypeman.com Learn more about Rajiv Nathan here:https://www.linkedin.com/in/rajivnathan/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"You need to get this together.""I accidentally quit my job.""Investors are not the people who buy your product." Chapters00:00 Introduction to Pitching Strategies01:04 Rajiv's Journey to Becoming a Pitch Expert07:24 Understanding the Pitch Landscape12:47 The Importance of Problem-Focused Pitches15:15 Common Mistakes in Pitching16:34 The K-PASA Elevator Pitch Formula22:57 Crafting the Approach and Solution31:39 Action Steps in Pitching35:03 Pricing and Services for StartupsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Ben Taylor, founder and CEO of Soft Ledger, about his journey in creating accounting software. They discuss the challenges of building a product in a competitive market, the importance of identifying gaps in existing solutions, and the lessons learned from the startup experience. Ben shares insights on their go-to-market strategy, the role of AI in accounting, and the impact of funding on their growth. The conversation highlights the complexities of product development and the future of accounting software. TakeawaysBen Taylor identified a significant gap in the accounting software market.Soft Ledger was built to address the inefficiencies in financial reporting.The journey to acquiring the first paying customer took 10 months.Product readiness is crucial before launching to customers.Surviving as a startup often means focusing on cash flow management.SEO has been a key driver for customer acquisition for Soft Ledger.AI is expected to enhance efficiency in accounting tasks.Funding allowed Soft Ledger to invest in product development and marketing.The accounting software market is evolving with new entrants and technologies.Positioning against competitors like QuickBooks requires a clear strategy. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Learn more about Softledger here:https://softledger.com Learn more about Ben Taylor here:https://www.linkedin.com/in/bentaylor8/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"I called up my longtime friend, Jeff Ostrega.""It took about 10 months before we got our first paying customer.""We thought we had something, but it wasn't ready." Chapters00:00 Introduction to Soft Ledger and Its Founding03:09 Identifying Market Gaps in Accounting Software05:56 The Challenges of Selling Accounting Software08:54 Building a Robust Product: Lessons Learned11:59 Navigating the Startup Journey: Surviving and Thriving15:08 Go-to-Market Strategy and Inbound Marketing17:54 The Role of AI in Accounting Software21:04 Funding and Growth Strategies for Startups23:54 Future of Accounting Software and Market PositioningSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson and Sean Beckner discuss the journey of entrepreneurship, investment strategies, and the evolution of business growth. Sean shares his experiences transitioning from a startup founder to an investor, highlighting the importance of timing in business exits and the dynamics of customer engagement in the digital age. They explore the challenges and rewards of acquiring businesses, the balance between equity and cash in exits, and the future of investing through a family office model. The conversation emphasizes the need for purpose and passion in entrepreneurship, as well as the potential for growth in existing businesses. TakeawaysEntrepreneurship involves phases: founding, acquiring, and investing.Transitioning from operator to investor can feel boring but offers freedom.Building businesses profitably allows for better optionality in exits.Customer engagement strategies have evolved with technology.Timing the market is crucial for successful business exits.Acquisitions can provide a win-win for founders and investors.Balancing equity and cash in exits is a strategic decision.Investing through a family office allows for more control and flexibility.Purpose and passion are essential for long-term entrepreneurial success.Growth in existing businesses can be more manageable than starting anew. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Learn more about Sean Beckner here:https://www.linkedin.com/in/sean-beckner-558a916/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"It's hard. It's hard.""We all need some sense of purpose, right?""You can still get those types of returns." Chapters00:00 Introduction to Entrepreneurship and Investment02:56 Transitioning from Operator to Investor06:56 Early Ventures: From Startups to Exits10:28 The Evolution of Customer Engagement13:31 Viral Nova: Riding the Wave of Social Media19:41 Timing the Market: Selling at the Right Moment25:04 Acquisitions: Finding the Right Fit31:02 The Balance of Equity and Cash in Exits36:10 The Future of Investing: Family Office vs. Fund40:32 Conclusion: The Importance of Purpose in EntrepreneurshipSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson speaks with Joseph Ruscio, a partner at Heavybit, a venture capital firm focused on investing in software development-related companies. They discuss the evolving landscape of venture capital, the unique value niche VC firms provide, and the impact of AI on software development. Joseph shares insights on the challenges developers face, the importance of finding product-market fit, and how AI can enhance developer productivity. They also explore Heavybit's recent investments in AI startups and the future of software development in an AI-driven world. TakeawaysAI is not going to replace developers but will enhance their capabilities.Niche VC firms like Heavybit provide specialized support to early-stage companies.The pressure to integrate AI into products is significant for developers.Finding product-market fit is crucial for startup success.Developers are increasingly seen as the key decision-makers in technology.The cost of software development varies widely across different markets.AI tools can help reduce the toil in software development processes.Investing in specialized AI models is essential for enterprise applications.The landscape of AI investments is rapidly evolving with new startups emerging.Understanding the unique challenges of selling to developers is vital for success. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Heavybit here:https://www.heavybit.com Learn more about Joseph Ruscio here:https://www.linkedin.com/in/josephruscio/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"AI is going to make developers more valuable.""The pressure to build AI functionality is real.""Finding product market fit is crucial." Chapters00:00 Introduction to Heavybit and AI in Software Development03:01 The Evolution of Venture Capital and Specialization05:58 The Value of Niche VC Firms09:01 Challenges in Selling to Developers11:48 AI's Impact on Software Development14:46 Investments in AI Companies17:51 The Future of Software Development with AI20:54 The Role of AI in Developer Productivity23:53 Investing in Emerging AI Startups27:08 The Importance of Specialized AI Models30:12 The Landscape of AI Investments33:06 The Economics of Software Development35:54 Conclusion and Future OutlookSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson and Yoni Kozminski discuss the intricacies of hiring talent in the Philippines, exploring Yoni's journey from creative advertising to building a recruitment agency. They delve into the challenges of scaling a business, the importance of value creation in sales, and the need for clear job definitions and onboarding processes.  The conversation highlights the evolving workforce in the Philippines, cultural nuances in communication, and the economic factors influencing hiring decisions. Yoni emphasizes the importance of having in-house expertise and leadership when hiring remote talent, while also acknowledging the incredible capabilities of Filipino workers. TakeawaysHiring in the Philippines can provide high-quality talent at competitive rates.Value creation is essential in every interaction with potential clients.Understanding business needs is crucial before defining job roles.A clear onboarding process is key to employee success.Cultural nuances can affect communication and understanding in remote teams.The Philippines has a rapidly evolving workforce with increasing capabilities.Investing in emerging world talent is beneficial for both parties.Sales growth often comes from existing clients and referrals.Defining success metrics for roles helps in effective hiring.Building a strong company culture can enhance employee satisfaction. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about MultiplyMii here:http://www.multiplymii.com Learn more about Yoni Kozminski:https://www.linkedin.com/in/yonkoz/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"We could help a lot of people if they just understood.""You really have to have visibility across how each of the pieces connect.""How do we focus on adding value at every single stage?" Chapters00:00 Introduction to Hiring in the Philippines02:59 Yoni's Journey into Recruitment06:04 Scaling the Business: Challenges and Strategies09:13 Sales Growth and Value Creation12:03 Understanding Roles and Hiring Needs15:04 Defining Success in Hiring17:58 The Importance of Onboarding20:49 Expertise and Leadership in Hiring24:02 The Evolving Workforce in the Philippines26:58 Opportunities and Economic Factors30:08 Cultural Nuances in Communication32:57 Conclusion and Final ThoughtsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Andrew Plato, a seasoned entrepreneur and author of 'The Founder's User Manual.' They discuss the challenges of entrepreneurship, the importance of differentiation in a competitive market, and the role of trust and credibility in business. Andrew shares insights from his experiences, emphasizing the need for startups to establish a unique identity, navigate employee relationships carefully, and maintain a clear company culture. He also addresses the importance of avoiding controversial topics at work and the necessity of perseverance in the face of challenges. TakeawaysWriting the book was a therapeutic process for Andrew.Books can provide valuable insights but cannot replace real experience.Startups must differentiate themselves to stand out in a crowded market.Building trust is essential for successful business relationships.Establishing boundaries with employees is crucial for effective leadership.Company culture should prioritize safety and open communication.Avoiding controversial topics at work can prevent division.Choosing the right customers is vital for business integrity.Perseverance is key to overcoming challenges in entrepreneurship.Successful entrepreneurs refuse to give up and take ownership of their choices. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Zenaciti here:https://zenaciti.com Check out Andrew Plato's book Founder's User Manual here:https://zenaciti.com/founders-user-manual/ Learn more about Andrew Plato:https://www.linkedin.com/in/andrewplato/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"You can't go into a marketplace and say you're unique and special and different if you do what everybody else does or you sound like everybody else.""Less is more. I get emails all the time and I get marketing all the time and it's like a wall of text. I don't care. I don't care that you have this guy on your board. I don't care that you know so-and-so. I don't care that you worked at Microsoft back in the 90s.""You need to go out into the marketplace and speak about the things that are interesting to people. Don't talk about your product. Don't talk about your competitors. Talk about things that are relevant in your field.""I wanted to be a likable person.""The harder I tried to be everybody's friends kind of, the more it ultimately backfired on me.""If you allow your business to become dominated by any or either of those sides, you are excluding a huge chunk of the population." Chapters00:00 Introduction and Background of Andrew Plato04:02 The Challenges and Learning Curve of Entrepreneurship07:57 Standing Out in a Crowded Marketplace11:56 The Power of Clear Messaging and Niching Down14:49 Building Trust and Credibility18:15 Building Mutually Beneficial Partnerships20:28 The Challenges of Being a Leader28:40 Setting Boundaries and Creating a Safe Space30:33 The Impact of Discussing Controversial Topics34:40 Focusing on Customer Needs and Avoiding Judgment40:50 The Power of PerseveranceSee omnystudio.com/listener for privacy information.

Adam Robinson, founder and CEO of Retention, discusses his new product RB2B and the importance of simplicity and profitability in building a successful business. He emphasizes the value of bootstrapping and achieving $10 million ARR before considering raising funds. Adam challenges the traditional venture-backed model and highlights the benefits of owning a profitable business that generates millions of dollars in revenue. He also shares his experience with scaling companies efficiently and the dangers of over-hiring and overspending.  The conversation explores the challenges of outbound marketing and the importance of creating a disruptive offer to drive growth. It emphasizes the value of using satisfied customers to fund business growth through referrals and expansions. The concept of inbound-led outbound marketing is introduced, highlighting the need for strong, intense signals to capture attention. The conversation also delves into the power of thought leadership and organic social media content in driving demand. The discussion concludes with a focus on the benefits of engaging in public battles and the importance of building a personal brand and thought leadership to create a following and generate referrals. TakeawaysBootstrapping to $10 million ARR before considering raising funds can lead to a more profitable and sustainable business.Simplicity and ease of use are key factors in building a scalable product.Many SaaS companies struggle to achieve profitability due to over-hiring and overspending.Focusing on long-term profitability and cash flow can be more rewarding than pursuing a quick exit.The traditional venture-backed model may not be the best fit for all businesses, and alternative paths to success should be considered. Outbound marketing has become more challenging, making it important to create a disruptive offer to stand out.Using satisfied customers to fund business growth through referrals and expansions is a sound way to run a business.Inbound-led outbound marketing requires strong, intense signals to capture attention.Thought leadership and organic social media content are powerful tools for driving demand.Engaging in public battles, building a personal brand, and thought leadership can create a following and generate referrals. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Retention.com here:http://www.retention.com Learn more about Adam Robinson here:https://www.linkedin.com/in/retentionadam/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"The best free product I've ever heard of in my life.""I will make millions of dollars a year, every year.""Bootstrapping to $10 million ARR will make your product so good.""Outbound has gotten so weird. Like it's just not as easy as it used to be.""Using your customers, your satisfied customers to fund your growth.""Inbound-led outbound, how do we do lead gen, identifying warm leads, and then reaching out to them." Chapters00:00 Introduction and Sponsorship02:20 Adam's Background and RB2B's Launch04:19 The Value of RB2B's Free Version07:09 The Billion Dollar Challenge and Realistic Expectations10:09 The Importance of Simplicity in Product Development13:07 Balancing Growth and Profitability14:56 The Downside of Selling a Successful Business16:51 The Challenges of Managing Rapid Growth18:53 The Benefits of Owning a Profitable Business21:14 The Challenges of Scaling Sales and Marketing24:23 Inbound-Led Outbound Marketing29:13 Driving Demand through Thought Leadership and Organic Social Media Content35:22 Engaging in Public Battles and Building a Personal BrandSee omnystudio.com/listener for...

Tyler Lieber, co-founder and CEO of Coconut VA, joins Matt Watson on the Startup Puzzle podcast to discuss the benefits and challenges of hiring virtual assistants (VAs) in the Philippines. They share their personal experiences with remote hiring and highlight the importance of trust and communication in working with VAs. Tyler explains that VAs can assist with a wide range of tasks, from email and calendar management to event planning and project coordination. They also discuss the unique advantages of hiring VAs in the Philippines, such as their strong work ethic, English proficiency, and cultural compatibility with US clients.  Tyler emphasizes the importance of providing competitive pay and benefits to attract and retain top talent. In terms of sales and marketing, Tyler and his team rely heavily on referrals and content marketing to build trust and establish relationships with potential clients. They also discuss the value of strategic delegation and how VAs can help founders become more efficient and focus on high-value tasks. The conversation concludes with a reminder to prioritize work-life balance and take strategic vacations to assess task dependencies and delegate effectively. TakeawaysHiring virtual assistants (VAs) in the Philippines offers unique benefits, such as a strong work ethic, English proficiency, and cultural compatibility with US clients.VAs can assist with a wide range of tasks, including email and calendar management, event planning, project coordination, and more.Building trust and establishing relationships are crucial in the sales and marketing of VA services, with referrals and content marketing being effective strategies.Strategic delegation is key to scaling a business and avoiding becoming a bottleneck as a founder.Taking strategic vacations can help identify tasks that can be delegated to VAs and improve work-life balance. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Coconut VA here:https://www.coconutva.com/cva-linkedin Learn more about Tyler Leber here:https://www.linkedin.com/in/tyler-leber/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"If you are hiring an executive assistant, or in this case, what we call a virtual assistant, you are hiring somebody that is just there to help you in whatever possible way that they can.""The jobs that we are creating for these people are so important to them and so valuable to them, and they're by far some of the best opportunities and best jobs that they will find.""Referrals are so important in this type of business because really just that trust building and that relationship building is the key to making any sales in this industry." Chapters00:00 Introduction and Background03:00 Starting a Business in the Philippines06:18 Navigating Business Operations in Another Country09:07 Training and Mentoring Virtual Assistants10:50 The Role of Virtual Assistants14:11 Why the Philippines for Virtual Assistants18:03 Sales and Marketing Strategies for Virtual Assistant Services22:43 Target Market and Geographic Reach29:52 Tips for Hiring and Working with Virtual AssistantsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Nimrod Vromen, author of Prompting Happiness, about the future of generative AI and its impact on various aspects of life. They discuss the role of lawyers in startups, the importance of focusing on distribution rather than protection in the early stages, and the need for founders to have a clear and comprehensive founders agreement. They also explore the potential of AI in enhancing communication, language translation, and interconnectivity among humans. The conversation delves into the impact of AI on happiness and the importance of self-prompts for personal growth and well-being. TakeawaysIn the early stages of a startup, it is more important to focus on distribution rather than spending a lot of money on legal protection.Founders should have a clear and comprehensive founders agreement, including reverse vesting, to address potential issues and prevent conflicts.AI has the potential to enhance communication, language translation, and interconnectivity among humans, but it is important to maintain meaningful connections with other humans.Self-prompts and a positive approach are essential for personal growth and happiness in the age of AI. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Empowerment here:https://arkempowerment.com/ Learn more about Nimrod Vronen here:https://www.linkedin.com/in/nimrod-vromen-7378435/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"Entrepreneurs are in a psychotic state. They're supposed to hold the hat and tell the entire world that they're building a billion-dollar business, but they're the only ones who get to peek under the hat and see that it is essentially dead.""The biggest mistake most founders make is that they don't tell anybody. They're so scared that they don't tell anyone. Worst case scenario, they could have told a few people who might talk to somebody else and introduce them to that person.""If somebody leaves, they lose the shares they haven't earned. If somebody's let go because the other two let them go for any reason whatsoever, they should lose their equity that they didn't earn." Chapters00:00 Introduction and Background02:09 The Role of Lawyers in Startups06:07 The Importance of Distribution and Communication10:21 Founders Agreements and Preventing Conflicts19:19 The Impact of AI on Happiness and Personal Growth29:28 The Future of AI and Prompting HappinessSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson and Ian Myers discuss the topic of hiring global talent. Ian shares his experience of starting a company in Sri Lanka and leveraging the highly skilled workforce there. They also discuss the challenges of scaling service-based businesses and the importance of upskilling and mentoring employees. Ian highlights the benefits of hiring talent from different countries and the opportunities it creates for both the employees and the local economies. They also touch on the challenges of running an international business and dealing with local labor laws and government regulations.  In this conversation, Ian Myers, the founder and CEO of Oceans, and Matt Watson, the founder and CEO of Full Scale, discuss the challenges and strategies involved in running a service-based business. They cover topics such as hiring and firing employees, managing client relationships, and the importance of reputation and referrals. They also emphasize the need for constant evaluation and improvement in recruiting and training processes. Overall, the conversation provides valuable insights into the unique dynamics and considerations of service businesses. TakeawaysHiring global talent can provide access to highly skilled professionals from different countries, creating opportunities for both employees and local economies.Service-based businesses face unique challenges in scaling, but scalable services can be a valuable and profitable business model.Upskilling and mentoring employees is crucial for their career growth and the success of the company.Running an international business comes with its own set of challenges, including dealing with local labor laws and government regulations. Running a service-based business involves managing the challenges and dynamics of working with people.Recruiting and hiring top talent is crucial for the success of a service business.Maintaining a good reputation and strong client relationships is essential.Constant evaluation and improvement are necessary in the recruiting and training processes.Service businesses can be profitable and offer a more predictable income compared to other types of businesses. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Oceans XYZ here:https://oceanstalent.com/ Learn more about Ian Myers here:https://www.linkedin.com/in/ian-myers-2a997852/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"There's talent everywhere.""It's weird to make money.""Scalable services businesses are rare.""We continue to hire 30 to 40 people a month""That's totally normal""The Sri Lankan workforce is much more concerned with 401k health insurance, all the benefits" Chapters00:00 Introduction to Hiring Global Talent02:26 The Potential of Global Talent05:57 Challenges of Scaling Service-Based Businesses09:57 Hiring American Talent vs. Global Talent14:12 Investing in Upskilling and Mentoring19:25 Navigating the Complexities of International Business25:03 Hiring and Scaling in a Service Business28:48 The Importance of Benefits and Work Culture in Sri Lanka33:34 The Key to Success: Hiring and Evaluating Talent40:05 Firing Clients and Protecting EmployeesSee omnystudio.com/listener for privacy information.

Chris Callen, founder and CEO of Plot, discusses his journey in the construction technology industry and the challenges of coordinating job sites. He shares his experience with his first software startup and the lessons he learned from it. Callen explains how Plot's job site coordination software helps streamline the delivery and procurement processes in construction. He also discusses the role of AI in the industry and the importance of building trust with customers. The episode concludes with a conversation about the go-to-market strategy for selling software to general contractors.TakeawaysJob site coordination is a complex process in construction, and software solutions like Plot can help streamline the delivery and procurement processes.Building trust with customers is crucial in the construction industry, as they are often skeptical of new software solutions.AI has the potential to make an impact in construction, but it is still in the early stages of adoption.Trade shows and referrals are effective go-to-market strategies for selling software to general contractors in the construction industry.Find Startup Hustle Everywhere:https://gigb.co/l/YEh5This episode is sponsored by Full Scale:https://fullscale.io/Find out more about PLOT here:https://www.getplot.com/companyLearn more about Chris Callen here:https://www.linkedin.com/in/chris-callen/Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/Sound Bites"Plot is a job site coordination software. Primarily we focus on the coordination of who goes where on the site, talking about all of the material deliveries that are coming from all over the planet really, and that are used to make up of any building.""You obviously need to focus on problem, not solution. We were so infatuated with our solution that we built this, I call it a science project. It was technically pretty amazing. Like what it was able to accomplish was phenomenal, but it didn't solve a business need and it didn't solve something that computed into business value.""Let's get this out there. Let's see what gets the traction. And by traction, I do mean dollars. I don't mean kind words. I don't mean demonstrations. I mean, who's going to pay for this?"Chapters00:00 Introduction to Plot and Job Site Coordination07:34 Lessons Learned from a Software Startup15:10 The Role of AI in Construction19:07 Expanding into Procurement Scheduling25:23 Building Trust with Customers in the Construction Industry29:46 Go-to-Market Strategies for Selling Software to General ContractorsSee omnystudio.com/listener for privacy information.

David Sinkinson, co-founder of AppArmor, shares his entrepreneurial journey and the lessons he learned along the way. He challenges startup myths and emphasizes the importance of finding the right co-founder. The conversation covers topics such as the need for funding, the psychology of being a founder, the evolution of AppArmor's product, the slow sales cycle in selling to colleges, and the impact of COVID-19 on the business. AppArmor was eventually sold for $40 million.  The conversation explores the psychology behind valuations and acquisitions in the software business. It highlights the concept of the 'mighty middle' where businesses sell for millions of dollars, but are not the multi-billion dollar giants. The discussion also touches on the challenges and opportunities of building a SaaS company, the importance of timing in seeking funding, and the benefits and complexities of working with family members. The guest also shares insights from his book 'Startup Different' which offers a chronological account of his company's journey and busts 33 myths about entrepreneurship. Takeaways Challenge startup myths and evaluate what is truly necessary for your business.Finding the right co-founder who complements your skills and provides support is crucial.The evolution of a product is inevitable, and listening to customer feedback is essential for success.Selling to colleges can have a slow sales cycle, but once you gain traction, customer loyalty is high.Adapting to market changes, such as the impact of COVID-19, requires innovation and listening to customer needs.Building a successful business often takes years of hard work and perseverance. The 'mighty middle' refers to businesses in the software industry that sell for millions of dollars, bridging the gap between small startups and multi-billion dollar companies.Building a SaaS company to reach a million dollars in revenue is challenging but doable, while reaching 10 million is a whole different level of difficulty.Timing is crucial when seeking funding, as it's important for the market to develop and understand the product before investing heavily.Working with family members in a business can be successful if there is trust, complementary skills, and effective communication.The book 'Startup Different' provides a chronological account of the author's company journey and offers insights and lessons for young entrepreneurs. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5This episode is sponsored by Full Scale:https://fullscale.io/Find out more about Startup Different here:https://www.startupdifferent.com/ Learn more about David Sinkinson here:https://www.linkedin.com/in/davidsinkinson/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites "We wanted to make sure that entrepreneurs and founders can avoid some of the mistakes that we made.""Funding might actually leave your business worse off than if you hadn't pursued it.""Being a single founder is hard. You need someone to talk to, cheer with, and pick you back up in the low moments.""Most people think of software businesses as being these multi-billion dollar huge sales that happen later coming to nowhere kind of thing.""It's relatively easy to build a SaaS company that gets to a million dollars a year in revenue.""We were extremely profitable, turning a 60% profit by our final year." Chapters00:00 Introduction and Background04:10 The Importance of Finding the Right...

In this episode, Matt Watson interviews Dan Kerr from Flyover Capital, discussing the evolving landscape of venture capital in the Midwest, particularly in Kansas City. They explore the importance of networking for founders, the structure of the upcoming Mid-by-Midwest event, and the changing dynamics of funding, including the rise of debt and royalty financing.  Dan shares insights on Flyover Capital's investment strategy, the challenges startups face in revenue generation, and the growing variety of investment options available in the region. The conversation highlights the advantages of the Kansas City startup ecosystem and the role of offshore development teams in modern business. TakeawaysNetworking is crucial for founders looking to raise capital.The Mid-by-Midwest event is designed to connect founders with investors.Debt and royalty financing are becoming more popular alternatives to equity.The VC market in 2024 is more selective and cautious than in previous years.Flyover Capital focuses on investing in undercapitalized regions.Local investors often take on more risk with Kansas City-based companies.Startups need to generate revenue to attract investment.The Kansas City startup ecosystem has evolved significantly over the past decade.There are now more investment options available for startups in the Midwest.Offshore development teams are increasingly common among startups. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Flyover Capital here:https://www.flyovercapital.com/ Learn more about Dan Kerr here:https://www.linkedin.com/in/dankerrkansas/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"How much money you got for us today?""This is year number three.""It's a nightmare to reach out to all these different VC companies." Chapters00:00 Introduction to the Midwest VC Landscape03:05 The Importance of Networking for Founders05:58 Event Format and Structure09:06 Understanding Debt and Royalty Financing11:57 The Changing VC Market in 202415:05 Flyover Capital's Investment Strategy18:01 The Role of Local Investors21:10 Challenges for Startups in Revenue Generation23:59 The Evolution of the Kansas City Startup Ecosystem27:00 The Growing Variety of Investment Options29:51 The Value of Offshore Development Teams33:05 Conclusion and Event DetailsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Michelle Denogean, the Chief Marketing Officer of MindTrip and author of the book 'Grow Up.' They discuss the challenges that founders face when growing their companies and the importance of having a diverse team with different superpowers. Michelle introduces four superpowers: innovator, builder, connector, and persuader, and explains how each one contributes to the growth of a company. They also talk about the blind spots that come with each superpower and the need for self-awareness and trust in delegating tasks to others. Michelle offers advisory services to help founders reflect on their leadership styles and guide them in building the right team and positioning their brand.TakeawaysThe superpowers of founders are not always the same as the roles they play in their companies.Each superpower comes with its own blind spots and weaknesses.Successful growth requires embracing the strengths of others and building a diverse team.Self-awareness is crucial for recognizing blind spots and understanding the value of different superpowers.Trust is essential in delegating tasks and empowering team members.Having the right people around you is the key to overcoming challenges and achieving growth.Reflecting on your own leadership style and understanding your weaknesses can help you become a better leader.Pivoting and adapting to market needs is important for the success of a startup.The cure to startup failure is the people you have around you.Being aware of your own strengths and weaknesses can help you make better decisions and focus on what you truly enjoy.titlesFocusing on Your Strengths and Enjoying the JourneyThe Importance of Pivoting and Adapting to Market Needs Find Startup Hustle Everywhere:https://gigb.co/l/YEh5This episode is sponsored by Full Scale:https://fullscale.io/Find out more about Mindtrip here:https://mindtrip.ai/ Learn more about Michelle Denogean here:https://www.linkedin.com/in/michelledenogean/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"The superpowers of founders are not always the same as the roles they play in their companies.""Successful growth requires embracing the strengths of others and building a diverse team.""Trust is essential in delegating tasks and empowering team members."Chapters00:00 Introduction and Overview11:48 The Superpowers of Founders and the Challenges of Growth18:37 The Importance of Building a Diverse Team with Different Superpowers25:18 Recognizing Blind Spots and Embracing the Strengths of Others30:08 The Role of Trust in Delegating Tasks and Empowering Team Members35:01 Overcoming Challenges and Achieving Growth with the Right People38:16 Reflecting on Your Leadership Style and Understanding Your Weaknesses38:40 Becoming a Better Leader Through Self-Awareness and ReflectionSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Markus Waite, the President of Empara and CIO of Goodroot, about healthcare technology. They discuss the challenges and complexities of the healthcare industry, the role of generative AI in simplifying healthcare processes, the high cost of healthcare in the United States, and the need for transparency and cost-saving solutions. Marcus also shares insights into the work of Goodroot, a company that focuses on solving healthcare problems through innovative solutions and a portfolio of affiliate companies. TakeawaysHealthcare is a complex industry with many systems and processes that need to be reinvented to improve the overall experience.Generative AI has the potential to be a game-changer in healthcare, simplifying processes and providing curated responses to help individuals navigate their healthcare journey.The high cost of healthcare in the United States is a significant challenge, and there is a need for transparency and cost-saving solutions.Goodroot is a company that focuses on solving healthcare problems through innovative solutions and a portfolio of affiliate companies. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Empara here:https://www.empara.io Learn more about Markus Waite here:https://www.linkedin.com/in/markuswaite/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"Our mission is reinventing healthcare one system at a time.""Generative AI is a game-changer. We've officially drank the Kool-Aid.""The high cost of healthcare is a significant challenge, and there is no incentive to make it less expensive." Chapters00:00 Introduction to Marcus Waite and Goodroot02:15 The Evolution of Healthcare Technology06:38 The High Cost of Healthcare in the United States10:12 Empowering Employees to Make Informed Healthcare Decisions16:56 Overview of Goodroot and its Innovative Solutions21:08 Selling Healthcare Technology Solutions23:03 Building Technology in the Healthcare Industry30:13 The Need for Transparency and Cost-Saving SolutionsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Keith Harrington, the founder and COO of Novel Capital, about non-dilutive capital and alternative funding options for startups. They discuss the different types of capital available, such as revenue-based financing and venture debt, and the importance of understanding when and how to raise money. Keith emphasizes the need for entrepreneurs to have access to information, capital, and tools to make informed financing decisions. They also touch on the risks of raising too much equity and the benefits of practical, sustainable growth. Takeaways- Non-dilutive capital, such as revenue-based financing and venture debt, provides alternative funding options for startups.- Entrepreneurs should carefully consider their use of funds and choose the right type of financing that aligns with their growth plans.- Raising too much equity can lead to high valuations and potential dilution of ownership, making it important to be mindful of the long-term implications.- Understanding the repayment structure, cost of capital, and potential risks associated with different financing options is crucial for making informed decisions.- Tools like Novel Capital's venture match can help entrepreneurs connect with equity investors based on their underlying business dynamics. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5  This episode is sponsored by Full Scale:https://fullscale.io/  Find out more about Novel Capital here:https://novelcapital.com/ Learn more about Keith Harrington here:https://www.linkedin.com/in/keithharringtonkansas/  Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/  Sound Bites"The most important part of it is actually sales and marketing.""Let's just start with what are you trying to accomplish. And then let's point you to the product that makes the most sense.""Most people don't think about the downside of all of those." Chapters00:00 Introduction and Overview03:10 Understanding the Service Offering and Target Audience05:48 The Creation of Tools to Assist Entrepreneurs08:17 The Importance of Sales and Marketing in Building a Business10:08 The Challenges of Traditional Banks and the Need for Alternative Financing12:02 Exploring Different Financing Options and Use Cases15:13 The Role of Introductions to Venture Capital Firms17:50 The Shift in Mindset Regarding Raising Venture Capital20:35 The Risks of Raising Too Much Equity23:30 The Benefits of Practical Growth and Bootstrapping25:14 The Availability and Accessibility of Debt Financing29:01 The Differences Between Debt Financing and Equity Financing31:23 Considerations and Red Flags When Choosing a Financing Provider34:00 Novel Capital's Tools and Venture Match PlatformSee omnystudio.com/listener for privacy information.

Christian Hammer, founder and CEO of Vala AI, joins Matt Watson on the Startup Hustle podcast to discuss AI for software development and the concept of technical debt. They explore the challenges of bridging the gap between business needs and technology, the different definitions of tech debt, and the importance of keeping up with the rate of change in the industry. Christian shares insights into Vala AI's platform, which aims to provide a holistic view of an organization's tech stack and help identify and address tech debt. Takeaways- Tech debt is the gap between business needs and the technology that supports those needs.- Off-the-shelf software often has inherent tech debt because it is not custom-built for specific use cases.- The rate of change in technology is accelerating, leading to an accumulation of tech debt.- The term 'technical debt' can be misleading and should be replaced with more accurate terminology.- AI in software development is still in its early stages and should be treated as a junior engineer or intern.- Effective communication and understanding between business and technology teams is crucial to address tech debt. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Vala AI here:https://www.vala-ai.com/ Learn more about Christian Hammer here:https://www.linkedin.com/in/chammer1/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"Tech debt is the gap between business needs and the technology that supports those needs.""All software that we build over time will eventually be replaced or go away.""The evil technical debt is the one that is brutal and prevents you from doing other things." Chapters00:00 Introduction and Background01:30 The Origin of Vala AI and the Problem of Tech Debt07:27 The Accelerating Rate of Change and Tech Debt Accumulation10:43 The Need for Better Terminology and Definitions14:28 The Role of Effective Communication in Addressing Tech Debt25:06 The Importance of Understanding Business Needs and Possibilities29:14 Vala AI's Platform and Approach to Addressing Tech Debt32:00 The Current State of AI in Software Development36:16 Differentiating Between Software Engineers and Coders37:46 Vala AI's Mission and PodcastSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson and Ryan Dowdy discuss the difference between professional service companies and SaaS companies. They explore the challenges and opportunities of scaling a service-based business and the importance of sales and distribution in entrepreneurship. They also touch on the significance of personal branding for founders and the role it plays in building trust and thought leadership. The conversation focuses on the importance of values alignment, personal branding, and quality in business growth. They discussed how values alignment with customers and clients can lead to stronger relationships and referrals. They also emphasized the power of personal branding in building trust and attracting customers. The conversation touched on the significance of storytelling and transparency in marketing, as well as the challenges and rewards of running service companies versus SaaS companies. Finally, they highlighted the importance of quality and customer satisfaction in driving referrals and long-term success. TakeawaysProfessional service companies and SaaS companies have different business models and growth strategies.Scaling a service-based business can be challenging, but it offers opportunities for growth and scalability.Sales and distribution are crucial for the success of any business, regardless of its industry.Personal branding is becoming increasingly important for founders and entrepreneurs to establish thought leadership and build trust. Values alignment with customers and clients is crucial for building strong relationships and driving referrals.Personal branding can help establish trust and attract customers who align with your values.Storytelling and transparency in marketing can be more effective than generic marketing messages.Running a service company can be less risky and easier to get off the ground compared to a SaaS company.Quality and customer satisfaction are key drivers of referrals and long-term success. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"We are a software development company. We help other people, but it's totally different. Like I'm not writing the code. I don't do any of the work.""Overall, only 1% of companies make it to 10 million. That's a giant accomplishment.""Valuations of SaaS companies tend to be tied to top line revenue, while service companies are valued based on EBITDA.""Do my values align with the person I'm doing business with?""The number one driver of sales for most companies is referrals.""You don't control referrals, but they just happen." Chapters00:00 Introduction and Overview02:30 Difference Between Professional Service Companies and SaaS Companies05:49 Challenges and Opportunities of Scaling a Service-Based Business12:58 Significance of Personal Branding for Founders and Entrepreneurs23:39 Values Alignment and Business Success26:55 The Unpredictability of Referrals33:18 Quality as a Cornerstone of Business GrowthSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson and Brett Sears discuss the importance of customer onboarding and training in software companies. They highlight the need for software companies to focus on getting customers to see value and have an 'aha' moment as quickly as possible. They also emphasize the significance of understanding the perspective of new users and providing a seamless onboarding experience.  The discussion delves into the evolving landscape of user onboarding and customer success, highlighting the shift towards concise, value-driven content and intuitive software design. It emphasizes the crucial role of the adoption funnel in guiding users from initial onboarding through engagement and expansion while underscoring the importance of customer success teams in reducing churn and fostering referrals. The conversation explores the ongoing need for effective product marketing and introduces two platforms, Adopt IQ and Sequence, designed to enhance user adoption and deliver dynamic content. Throughout, the focus remains on providing quick value to users, creating user-friendly experiences, and implementing strategies to improve adoption rates, reduce customer churn, and drive expansion revenue in today's fast-paced software environment. Takeaways- Customer onboarding and training are crucial for software companies to ensure that customers see value and have an 'aha' moment as quickly as possible.- Understanding the perspective of new users and providing a seamless onboarding experience is essential for customer success.- Reducing churn and increasing expansion revenue are key goals for software companies.- Complex software cannot be intuitive, but it can be made more approachable through user-centric design and support.- Micro videos and in-application help can be effective tools for onboarding and training. Short videos and concise content are becoming increasingly popular as users seek quick answers and value.- Software should be intuitive and user-friendly, allowing users to execute tasks without extensive training.- The adoption funnel, consisting of onboarding, engagement, and expansion, is crucial for guiding users through different stages and ensuring their success.- Customer success plays a vital role in reducing churn and driving referrals.- Ongoing product marketing is essential for keeping users engaged and driving adoption.- Adopt IQ and Sequence are two platforms that aim to enhance user adoption and provide dynamic content. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about AdoptIQ here:https://link.traininglayers.com/LI2R Learn more about Bret Siers here:https://www.linkedin.com/in/bret-siers-%E2%96%B6/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"Recurring revenue requires recurring value.""Figuring out the 'aha' moments is half the battle.""The first question is, do I have any idea what I'm doing?""Now I think that's changed. That means that they're not getting the answer fast enough.""Nobody wants to watch a 20-minute video.""I think 80% of the people shouldn't learn how to use software. They should be able to execute on it." Chapters00:00 Introduction and Importance of Customer Onboarding03:27 Understanding the Perspective of New Users06:32 Reducing Churn and Increasing Expansion Revenue12:01 Making Complex Software Approachable15:01 Using Micro Videos and In-Application Help for Onboarding22:49 The Importance of User-Friendly Software28:28 The Role of Customer Success in Reducing Churn and Driving Referrals31:34 The Significance of Ongoing Product Marketing35:25 Introducing Adopt IQ and Sequence: Enhancing User Adoption and Providing Dynamic ContentSee

In this episode, Matt Watson and Ryan Dowdy discuss the importance and benefits of being recognized on the Inc 5000 list. They explore the motivations behind winning awards and the impact it has on company culture, employee morale, and recruiting. They also highlight the value of third-party validation and how it builds credibility and trust with customers and investors. The conversation emphasizes the significance of celebrating wins and the role of awards in showcasing a company's success. TakeawaysBeing recognized on the Inc 5000 list provides third-party validation and builds credibility and trust with customers and investors.Winning awards can boost company culture, employee morale, and recruiting efforts.Celebrating wins is important and often overlooked in the fast-paced world of entrepreneurship.Awards and accolades serve as a marketing tool and give companies a reason to reach out to existing customers and potential clients.The Inc 5000 list is attainable for companies that have experienced significant growth over a three-year period.Applying for awards and nominations can be a strategic play to position a company as an industry leader. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"We don't stop enough and give credit to the team and the whole company. Let's stop and celebrate as a company. If we did this big thing as a team, this is a team sport.""People want to do business with winners. We all have that bias. We all want to win.""Recruiting is a huge issue. Good people want to be part of winning teams and winning companies." Chapters00:00 Introduction and Background02:38 Celebrating Wins and Recognizing the Team07:16 The Impact of Awards on Company Culture and Recruiting09:45 The Value of Being Recognized as a Winner11:30 The Role of the Founder as a Cheerleader15:43 The Inc 5000 as a Favorite AchievementSee omnystudio.com/listener for privacy information.