Growing up broke was one of the most valuable assets to shape me as a startup Founder. At the time it didn't feel too valuable (it sucked) but I'd come to learn later that it burned specific traits into my behavior that served me insanely well in building startups from scratch.
Many of us have had the same challenges, coming from disadvantaged upbringings that felt like a setback at the time but also became crucibles of learning and adaptation that actually made us far more capable when our skills were put to the test later on.
When we're broke, we can't afford to pay anyone to do anything. Plumbing breaks? We become a plumber. Car won't start? We become a mechanic. We just don't have a choice, so it forces us...
The old days of having to grow our staff by promoting them into a management pyramid are (thankfully) wasting away. Startups can do way more with fewer people, which means fewer management layers and more a more empowered staff.
Yet, we're still stuck in the old thinking of "I can only progress if people are reporting to me." It's a dying notion, yet one we struggle with as startup Founders to replace. But we have to figure out how to recast the career paths of our teams if we're going to learn to work in a new world of smaller teams doing 10x more than they used to.
When our staff talks about growth, they are really talking about three things — money, recognition, and empowerment. Money is easy — we can always p...
As Founders, we spend an inordinate amount of time setting and pursuing goals, yet the ones that truly matter — the ones that affect us personally — are often amorphous. If we're spending every waking moment working toward a goal, it stands to reason that our goals should have an insane amount of fidelity.
If you ask a startup Founder what their goals for the startup are, they may say something like "To sell for a billion dollars!" But that's a pointless goal unless that Founder needs exactly a billion dollars (or their percentage of it) to achieve their goals. Also, if you have a plan for spending a billion dollars please call me - I want to hang out.
A better goal would be "I need $281,520 to pay off my ...
Decoupling startup stress from our "regular life" is one of the biggest challenges we deal with as Founders. Running a startup isn't like working at a job. The startup is a part of who we are, so our stress feels like it's imprinted into our very DNA.
Yet, at the same time, if we can't decouple our startup stress and our home lives, we risk destroying both. What we need is an actual strategy for freeing up our minds so that we can actually enjoy both sides of our lives.
As Founders, we are awesome at attacking problems all day long at our startups. So why is it that we never isolate the problem of our "take-home stress" and attack it with the same intensity?
The first step is to isolate the problem as an actua...
One of the challenges we've been tackling internally at Startups.com, and I'd imagine lots of other startups, is breaking down how we communicate in a diverse workforce. We feel that diversity shouldn't just be about hiring, it should be about understanding.
In fact, it stands to reason that the more diverse our workforce becomes, the less implicit understanding we will have amongst ourselves. Our backgrounds will become so different that what we say and how we respond will have less and less common ground.
I wanted to share one step we're taking to address this challenge in hopes that others will share their experiences too (by the way, the "reply" button on these goes directly to me, the Founder). One of our focus areas has been creating ...
Startups.com marketing technology stack
First up, what even is Martech? This is an abbreviation of “marketing technology.” It’s the tools and software you use in your day-to-day sales and marketing.
The reference to the “stack” has been used by developers for years, in reference to the technology and codebases they use within the products they build. Martech Stack references the marketing technologies and tools you use within your marketing infrastructure set-up.
By stacking these tools together and integrating them you create a consistent, automated flow of data between your tools.
The likelihood is that you already have some form of Martech Stack in place, even without...
In 2008, the world got a new music streaming service named Spotify. It was developed in Stockholm, Sweden, and provided digital rights management-protected content from record labels and media companies. It may have started out as a local thing, but the freemium service quickly expanded. Today, Spotify has more than 140 million monthly active users and over 50 million paying subscribers.
I had the pleasure of meeting up with Andreas Ehn, who was Spotify’s first employee and CTO. Andreas was responsible for the product and platform architecture as well as hiring a world-class engineering team, of which many have gone on to become successful entrepreneurs on their own.
After Spotify, Andreas founded Wrapp — a mobile online-to-offline customer...
Capital raising isn't about pitching investors, it's about getting in front of them to begin with. But how do we get introductions from investors if we don't know any?
We start with forming an Advisory Board.
The suggestion here isn't to form an Advisory Board specifically for raising capital — since there are a ton of benefits to having an Advisory Board. However, as a first step toward raising capital, it makes a ton of sense to surround ourselves with smart, well-connected people who believe in our product but also have been through the very gauntlet we're entering into. In the same way we'd hire a dev team to build an app, why wouldn't we round up a team of smart, well-connected Advisors to build our capital raise?
We don't need to be s...
At Startups.com, we built an 8-figure business by saying "no" — a lot.
We knew going in that if we’re going to have 100% control of our destiny now and in the future, that would only work if we could constantly say "no" in a disciplined manner.
But you know what? Saying "no" sucks. Just like saying "no" to delicious glazed donuts sucks. We know that we want them, but we also know the cost of saying "yes"! Now I'm hungry for a glazed donut. See what I mean? We knew that controlling our destiny would mean an insane amount of discipline, across the entire organization. In order to prepare ourselves for this discipline, like any good regimen, there were a few things that we'd have to stay incredibly focused on.
I had the pleasure of talking to Blake about his ideas and experiences as a social entrepreneur. I started by asking him about how TOMS started.
Blake: I started TOMS after a trip I took to Argentina in 2006. I noticed that many of the locals wore shoes that I learned were alpargata. I also noticed that in rural villages there were many children who were without shoes and how that was affecting their daily lives. I had to come up with a way to help and knew that relying on donations alone was not a sustainable solution, so I used my knowledge of business to come up with an idea. The result was a for-profit business model that empowers customers to help children through their purchases. For every pair of shoes purchased, a new pair is given ...