The Startup Help Desk podcast

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محتوای ارائه شده توسط Sean Byrnes, Ash Rust & Nic Meliones, Sean Byrnes, Ash Rust, and Nic Meliones. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Sean Byrnes, Ash Rust & Nic Meliones, Sean Byrnes, Ash Rust, and Nic Meliones یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal

Biscuits & Jam

1
The War and Treaty Are Getting Carried Away 46:55

10 روز پیش46:55

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46:55

The War and Treaty’s Michael and Tanya Trotter grew up in Cleveland, Ohio, and Washington, DC, respectively, but both have family roots in the South. They also grew up in the musical traditions of their churches – Tanya in the Black Baptist Church and Michael in the Seventh Day Adventist Church – where they learned the power of song to move people. After becoming a father at a very young age, Michael eventually joined the armed forces and served in Iraq and Germany, where he took up songwriting as a way of dealing with his experiences there. Meanwhile Tanya embarked on a singing and acting career after a breakthrough appearance in Sister Act 2 alongside Whoopi Goldberg and Lauryn Hill. Now, after a long and sometimes traumatic journey, Michael and Tanya are married, touring, winning all sorts of awards, and set to release their fifth album together, and their fourth as The War and Treaty. Sid talks to Michael and Tanya about the new record, Plus One , as well as their collaboration with Miranda Lambert, what it was like to record at FAME studios in Muscle Shoals, and how they’re blending country, soul, gospel, and R&B. Learn more about your ad choices. Visit podcastchoices.com/adchoices…

The Startup Help Desk

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Answers to your questions about starting and building companies. Your hosts are Sean Byrnes, Ash Rust and Nic Meliones, all experienced founders who have built companies themselves and coached hundreds of CEOs on their startup adventures. They share their lessons from building, buying, selling and investing in companies over the past 20 years. If you have questions you'd like answered you can submit them on Twitter by tagging @thestartuphd or on our website http://www.thestartuphelpdesk.com.

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#Entrepreneur #Business #Sean Byrnes Ash Rust And Nic Meliones #Ash Rust #Nic Meliones #Sean Byrnes

The Startup Help Desk

updated ۸ روز پیش

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خانه سری•Feed

46 قسمت

#Entrepreneur #Business #Sean Byrnes Ash Rust And Nic Meliones #Ash Rust #Nic Meliones #Sean Byrnes

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The Startup Help Desk

1
How Much Process is Enough? 20:00

۸ روز پیش20:00

20:00

In this episode we talk about process. Big companies have a lot of process, but startups have very little. How much process is enough for your startup? When do you have too little, or too much? We are here to help! In this episode we answer questions including: When is the right time to introduce process? What if an employee refuses to follow our processes? How do I know if we are using too much process? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: When is the right time to introduce process? Too little process leads to chaos. Too much process slows you down. So how do you strike the right balance? The key is to avoid predictable failures – like running out of money, missing legal obligations, or failing to talk to enough customers. You should introduce process selectively to prevent these known risks. Some processes will naturally emerge as your startup grows. Instead of forcing structure too early, focus on where process adds real value, such as: - Goal setting (weekly, monthly, quarterly). - Standardized specs for software to maintain quality. - Clear rules for custom sales requests to avoid overpromising. The bottom line: don't create process for process's sake. Evolve it intentionally as your startup grows. Q2: What if a sales employee refuses to follow our processes? High performing salespeople often bend the rules. Should you let them? It depends. What really matters: are they selling the right value proposition? If they are delivering strong sales results without misleading customers or breaking pricing rules, flexibility can be beneficial. What's not OK: selling things that don't exist. Overpromising features. Ignoring pricing guidelines. How to handle it: give feedback and set clear boundaries. If you allow flexibility, let them know that you are basing it on performance. If the performance drops, that flexibility disappears. Bonus tip: you might actually learn from this sales employee! Great salespeople often find better ways to sell – listen and refine your processes accordingly. Q3: How do I know if we are using too much process? Warning signs: - Your velocity feels slow and your team struggles to keep up with opportunities. - Customers are moving faster than your product development. - You're spending more time on approvals and red tape than executing. The right amount of process should be invisible – it makes work easier, not harder. If process is slowing you down, cut back. A common trap: founders who hire product managers from large companies often end up with too much process. If your team feels like they are drowning in structure, it's time to simplify.…

The Startup Help Desk

1
How to Solve Employee Problems 20:41

۷ weeks پیش20:41

20:41

In this episode we talk about employee problems. If you have employees, some of them will create problems that you will have to solve. How do you solve employee problems without firing someone? When do you have to fire someone? We are here to help! In this episode we answer questions including: How do I handle an underperforming co-founder? What can I do about an employee who is chronically late? What if you suspect an employee has a second job? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: How do I handle an underperforming co-founder? Here are our actionable tips: Weekly 1-on-1s are essential for resolving conflict and achieving alignment. Establish clear expectations for alignment and performance. Reflect on your own contributions to the problem: ask yourself, “what can I do better?” Seek coaching opportunities for your co-founder or explore if they might be a better fit in a different role. If you cannot achieve alignment with your co-founder, consider parting ways. Q2: What can I do about an employee who is chronically late? There are two distinct perspectives to consider: Flexibility is an advantage for your startup. Amazing talent with unorthodox work habits may unlock immense value for your startup. However, collaboration is key. The ability to collaborate is one of the most important skills someone needs in a startup. If punctuality impacts team dynamics, it is essential to address it. We had to settle this one through a tie-breaker decision! Be firm. Small adjustments are acceptable, but don’t compromise the ability to collaborate. All work is collaborative. Your team has to work together to achieve goals. Q3: What if you suspect an employee has a second job? 1: Outcomes matter more than effort. Are they meeting their goals? 2: Consider the cost of losing them vs. the value they bring to your startup. 3: Reiterate that team meetings and collaborative efforts are non-negotiable. The key takeaway is this: ignoring problems sets a precedent that affects company culture. Company culture matters.…

The Startup Help Desk

1
When to Give Up 24:34

10 weeks پیش24:34

24:34

In this episode we talk about giving up. Startup companies are hard, and at some point you need to ask whether it's worth grinding or just moving onto something new. When do you stay the course, and when do you give up? We are here to help! In this episode we answer questions including: Should you keep pursuing a goal that is out of reach? How long should you keep trying if the business is flat? What happens when co-founders can't work together anymore? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1. Should you keep pursuing a goal that is out of reach? We shared varied perspectives on this one! Goals are meant to guide progress. Sometimes it is necessary to adjust them to stay relevant and motivating. Adjusting a goal can ensure that you keep your team’s focus on achievable and impactful results, rather than unattainable targets that may demotivate your team. However, is is important to not create a culture where you habitually lower goals. This can incentivize the wrong behaviors. People will realize that it takes less effort to campaign to reduce the target when compared to the amount of work it takes to reach the goal. Thus, there are plenty of reasons to leave an ambitious goal unchanged – there are benefits to falling short of a goal. If you fall short of a goal, conduct a retrospective on what went wrong and implement changes to avoid repeating the same mistakes. Q2. How long should you keep trying if the business is flat? Deciding to give up on your startup is a personal and often emotional choice, but there are key signals to consider: - Team members or co-founders are leaving. - Customers are disengaged and growth has plateaued. - You feel increasing opportunity costs for staying with the venture. - The company is running out of cash without a clear path to sustainability. - There are no viable options to sell the business. Founders often face the question of whether to persevere or pivot. While icons of persistence may inspire founders to keep going, not all startups are destined to succeed. If critical signals point to insurmountable challenges, it may be time to move on and apply lessons learned to the next venture. Q3. What happens when co-founders can't work together anymore? Disagreements or misalignment with a co-founder can harm the company’s growth and morale. Before making the decisions to separate, attempt to address the root causes of conflict and realign expectations. However, if the relationship has been toxic for an extended period of time and is unresolvable, parting ways may be the best choice for your company’s future. We are not attorneys and this is not legal advice, so please consult your attorneys when parting ways with your co-founder. Ensure the separation process is clean and legal to avoid future disputes. A parting co-founder that retains large amounts of equity or board rights could impede the company’s long-term success, so consult with legal experts to protect the business.…

The Startup Help Desk

1
How to Master Annual Planning 24:04

13 weeks پیش24:04

24:04

In this episode we dive into annual planning. All companies need annual plans, but most companies don't know how to build great plans. What does a great plan look like? How do you make sure your team believes in your plan? We are here to help! In this episode we answer questions including: What should be part of an annual plan? How do I get my team bought into my plan? How aggressive should our annual goals be? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: What should be part of an annual plan? Revenue is the centerpiece of startup annual planning. Goals that directly tie to revenue include: Distribution, Engagement, and Churn. Other goals that correspond to revenue include: - Product milestones, particularly those that correspond to features customers want. - Launch dates. - Runway and budget. - Hiring. Most importantly – all these lower level goals should clearly impact the higher level goals like revenue – so don’t agree on a launch date for a new feature if you do not also expect it to drive a meaningful increase in revenue. Before you start your annual planning, make sure to align your goals with the reality facing your startup. - For a pre-revenue startup: the goal is to start growing. - For a startup that has validated demand: the goal is to accelerate growth. - For a startup that recognizes that something critical is not working: the goal is to validate that next major hypothesis. Q2: How do I get my team bought into my plan? Ambitious goals require better performance across multiple teams. You need them to work together instead of pointing fingers. Start with an objective evaluation of your metrics. How’s your pipeline? How are your conversions? Anything that is not performing well enough needs to improve, regardless of function. This is where great communication and leadership ability really shines. An ambitious goal requires that you convince others to do great work. Telling people to do the work is easy. However, motivating people to want to do the work is a different story entirely. You need to galvanize all teams around a big goal. Consider different ways to deliver your motivating message. For example, if both teams need to improve performance in order to achieve your goal (which is likely), then craft a plan that focuses on ambitious targets where you are going to “test assumptions” about ways you can unlock even greater performance. Testing an assumption can unify folks around a common goal instead of pointing fingers. Q3: How aggressive should our annual goals be? Investors invest in growth. 3x growth is an accurate benchmark for what investors expect for a startup. However, the business needs to grow on its own; you can’t always push it. If that growth is not possible, you might just not be a venture-backable company. Depending on your industry, you might have different goals. Talk to your investors! As an alternative, set a realistic goal: get profitable. - Cut costs. - Raise prices. - Focus on your most engaged customers. That way, you don’t need to raise or at least you won’t need to raise urgently.…

The Startup Help Desk

1
What Competitive Advantages Matter? 21:16

17 weeks پیش21:16

21:16

In this episode we dive into competitive advantages. Everyone knows they need them, but what are they? How can you have competitive advantages when you are just starting out? What happens if you lose them? We are here to help! In this episode we answer questions including: What competitive advantages can you have when you first start? What happens if we lose our competitive advantage? How can we turn one advantage into many? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: What competitive advantages can you have when you first start? Competitive advantages evolve over time. However, some may appear on day 1. For example, a founder with deep technical expertise can offer a unique product. Furthermore, a founder with an established brand can bring an existing audience to sell to. Having an existing distribution channel – and brand name early customers to provide social proof – helps fortify an early distribution advantage. While these advantages are helpful, the key is to continuously understand your customers and validate their needs. Q2: What happens if we lose our competitive advantage? Advantages are often short-lived, especially as your competition learns from you and copies your advantage. A competitive advantage offers a head start, but the goal is to transform that head start into ongoing customer engagement and product development that solve your customers' problems and exceeds their expectations. Thus, an enduring advantage comes from constantly "talking to users" and building products they love. Building a talented and committed team is also key. If you can keep talented folks working at your company longer than the competition, that is an advantage. Q3: How can we turn one advantage into many? Your product being the "best" is rarely enough. Founders must stay tuned into their customers' needs while understanding why prospects choose the competition. If people are buying solutions to address their problems, that's already good news! Now you need to understand how to assure that customers consider your startup during the buying decision. Test new approaches to better communicate the value that your product provides prospective customers. At the same time, complete "postmortems" with lost prospects to understand why they chose your competitor. The more time you spend talking to customers (prospective buyers, existing buyers, and those that you lost to the competition), the faster you can unlock new advantages.…

The Startup Help Desk

1
How to raise Extensions and Bridge Rounds 21:20

20 weeks پیش21:20

21:20

In this episode we dive into raising extensions and bridge rounds. Many companies are looking to these as ways to extend their runway, but they can be complicated. How do you go about raising these kinds of rounds? We are here to help! In this episode we answer questions including: What is the difference between an Extension and a Bridge round? How do I talk to my investors about an Extension? What happens if one of my investors won't participate? How much should you raise for an Extension? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q0: What is the difference between an Extension and a Bridge round? Extensions and bridge rounds are the same: you’re raising a smaller amount before the next priced round, instead of an actual priced round. There are 2 reasons to do it: a position of strength or weakness. Weakness is the most common situation and you will see people use the term "bridge round" more often here. The term "extension" sounds better, so you should always use that. When pursuing this type of round, usually you have not grown as fast you would like and thus need more time to hit the milestone needed for the next round. That time requires a little more money. When pursuing an extension from a position of strength: you have grown very quickly, your existing investors are desperate to add more to their investment and you only need a relatively small amount to skip the next round completely. Q1: How do I talk to my investors about an Extension? You really don’t want this to be the first time they hear the news. Make sure you send regular monthly updates to your investors. This makes a huge difference in investors' willingness to help. Make a basic plan first, with the projections and expected outcomes: the extension should prepare you for a great priced round or liquidity event. Then, contact your friendliest folks first and build momentum. Investors say "no" via email all the time to founders. It is important to break through the noise. Call your investors or meet them in-person to ask for their participation in the extension. Q2: What happens if one of my investors won't participate? This is a very common problem. Close the yeses now. A SAFE is one of the more common funding methods for this type of round. Then, you have to decouple the dependencies. Does this investor have real concerns and obstacles? Does this investor just not have the cash to allocate to the extension? If you cannot get this investor to participate in the round, start rallying new investors. Consider alternatives such as crowdfunding, too. Q3: How much should you raise for an Extension? What's your next milestone? Agree on that first. Then: how much cash do you need to reach your next milestone? Aiming for 12+ months of runway is not a bad way to frame it, but milestones are more important. Is there a critical revenue milestone that you are approaching? Is there a key growth milestone that this extension can help you achieve? Investors want their cash to be fuel for reaching major milestones. Identify the right milestone, and map out how much cash you need to reach it. With that number in hand, remember that you almost always need more funding than you think to reach a given milestone.…

The Startup Help Desk

1
What is Category Creation? 23:43

27 weeks پیش23:43

23:43

In this episode we dive into category creation and what it takes to win in a new category. Many startups are building products unlike anything that has existed before, but how do you build a category around it? How do you let people know it even exists? We are here to help! In this episode we answer questions including: What is category creation? How do you anticipate the need for a new category? How do you educate the market that your new category exists? How do you maintain a competitive advantage as your category grows? Sean Byrnes has co-founded, scaled, and sold multiple startups and has invested in and advised countless others. "Category creation" has been central to Sean's ability to go from 0 to 1 and beyond. Ash and Nic put Sean on the hot seat to unlock winning strategies around category creation. All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q0: What is category creation? If you are selling something where there was nothing like it before, it’s category creation. This differs from a "replacement": selling a product that replaces something else (a product, person, role). Q1: How do you anticipate the need for a new category? Category creation starts with problems. You may observe old problems that go from small to huge (SaaS). Another way for opportunities to emerge is from problems that arise through new technologies, markets, or changes (mobile apps). “What kinds of problems are increasing in pain but now may be solvable given this shift?” These opportunities all start with inflection points: something needs to change to disrupt the status quo. Creating new categories is usually not the best approach. Even if it is, it often takes years before people recognize that the category exists. Q2: How do you educate the market that your new category exists? While replacement products are all about competitive advantages, category creation is all about education. Most of the education is not about your product. Instead, educate your prospective customers that it’s possible to solve the problem! You just want everyone to know that solutions exist. Teach people what to look for in solutions: give them criteria and teach them how to evaluate. With “education” as a central component of your strategy, you still need to stay true to your classic startup principles: validate that people have a need, show them a clear use case, and generate proof that prospective customers want it badly. Q3: How do you maintain a competitive advantage as your category grows? First mover advantage is a fantasy. You would much rather be second or third. If you do create a category, there are a few advantages you can build up: - Premium customer logos. - Create your own conferences. - Prime positioning with analysts/industry coverage. - Defining the industry standard. Treat customers like co-researchers on this emerging frontier. Earned and owned media builds trust and buy-in. Lightning Round How do you validate demand for this type of startup? Is it different in any way than the classic methods that startups should take? What’s more important: a crystal ball type of ability to anticipate a new category of opportunity or the ability to iterate quickly when an opportunity…

The Startup Help Desk

1
How can Venture Capital firms help you? 23:32

30 weeks پیش23:32

23:32

In this episode we dive into new kinds of Venture Capital firms and what they offer startups. Many startups seek venture funding, but most funds look the same. What can new types of funds offer? When are they a good fit for you? We are here to help! In this episode we answer questions including: How involved should a typical VC be? What’s more important the founders or the market? What are examples of an “unfair advantage” that a startup can have? We also hear details on Sterling Road and Near Horizon , two new kinds of venture firms started by our own Ash and Sean! All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: How involved should a typical VC be? For a typical investor, they should not be involved much at all. Many VCs don’t have experience operating a startup, thus, their advice can be distracting. Nonetheless, it is important to keep them regularly tuned in via monthly status updates. For investors that have built and led startups, their help can be significantly more meaningful. With Sterling Road, Ash provides regular cadence coaching to help your startup at the earliest stages. This also includes hiring intros, customer intros, community access, and fundraising help. Sean explains that Near Horizon gets as involved as possible, but they aren’t the CEO. You need a CEO with vision and deep knowledge of the space; Near Horizon is the booster rocket to make them better. They support the CEO with a wide range of founder-centric efforts, but fundraising and hiring remain the CEO’s responsibility. Q2: What’s more important the founders or the market? You need both! The table stakes for a startup: 1: The market: it needs to be a huge problem with a lot of potential buyers. 2: The founders: impressive founder with a history of success and resilience is key. The founder will make or break the company. 3: Proof: then you need a great idea, evidence that it might work, a demo, and a bunch of customer discovery. Great founders can build businesses in small markets, but not venture-backable businesses. Weak founders can show traction in big markets but will struggle to scale. Investors are looking for a unicorn, and that is very rare. Most investors review hundreds if not thousands of startups for every one investment. Q3: What are examples of an “unfair advantage” that a startup can have? Ash explained that Sterling Road prizes advantages in tech, network effects, and user experience (usually based on tech, otherwise a competitor could easily copy it). Sean emphasized that Near Horizon looks for founders with unfair advantages in distribution. You need a way to reach your customers that isn’t paid advertising. Other nice-to-haves include: Hiring - having a network of amazing people who want to join your team. Customer rolodex - knowing the first dozen or so buyers. Lightning Round Do founders make the best investors? What’s a clear indicator from a startup that can make it interesting to potentially invest? After three months of receiving the Near Horizon or Sterling Road golden touch, what’s the change that a startup should experience – what can they now do differentl…

The Startup Help Desk

1
How to Break Out of a Slump and Find Growth Again 22:10

33 weeks پیش22:10

22:10

In this episode we answer questions about growth. Specifically, what do you do if your growth has stalled? How do you find a new growth engine? We are here to help! In this episode we answer questions including: How do I break out of a flat sales slump? How do I avoid spending all my time fighting with competitors for deals? How do I stand out in a crowded market? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: How do I break out of a flat sales slump? Start by reviewing some of your growth fundamentals to make sure your key pillars are in a good spot. Your ICP: do you know your Ideal Customer Profile, and do you have evidence that this customer category has demand for a solution? Proof: do you have proof that your product is generating great value for customers (and have you created assets based on that proof)? Referrals: are you making it easy to get referrals? Make sure these pillars are in a healthy spot first. Then, investigate which growth levers need more attention. Your sales funnel is one such lever that is critical to this process. Conduct a sales funnel analysis: - Are we doing enough initial calls or getting enough signups? - Are enough people getting excited or engaged when they see the product? 10-20% is a good baseline. - Are enough people becoming paying customers after they try it out? Converting 30% of trials is a good baseline. - Look for the chokepoints: where are the easiest places to improve? Q2: How do I avoid spending all my time fighting with competitors for deals? Listen to your customers. It’s likely both products fail in some way for the customer. You may be able to find an opportunity to differentiate that value you provide by addressing this unmet need. Furthermore, you may unearth a subset of customers whose needs are going unmet. Don’t be afraid to take a risk and test new ideas and features. Much of this is a function of changing how you – as the founder – frame the strategy. Spend less time talking about the competitor and more time talking about how the world should look. Seeking parity is what turned Blackberry from a global force in cellphones into what it is today. You want to build an iPhone, and that’s not going to come from matching the competition. Consider how you can change the game through radical product changes, radical pricing changes, and radical strategic moves. Another avenue to consider: this can be a great opportunity for a merger! There are many notable examples (include Sean with Flurry) where two high growth startups merge, with one brand leading the charge moving forward. Q3: How do I stand out in a crowded market? You never win by playing the same game as everyone else. Look at where the market is going and try to get there first. Understand the pain better and find a new way to fix it. Find a new crowd! A common mistake is to differentiate by highlighting the features you have compared to the competition. Instead, differentiate through storytelling – what opportunity is emerging in the world, and how can your startup be the engine that makes it possible for your customers to participate in that opportunity? That's what people care about.…

The Startup Help Desk

1
How to Retain Your Top Employees 20:49

35 weeks پیش20:49

20:49

In this episode we answer questions about your top employees. The biggest problem with top employees is that they might leave! How do you make sure they stick around? We are here to help! In this episode we answer questions including: What to do if a key employee wants to become a founder themselves? How do I handle competitors trying to hire my best salespeople? How do we keep our first employee as the company scales? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: What do I do if a key employee wants to become a founder themselves? Ideally, you would be the one suggesting that this key employee become a co-founder, not the other way around. You don’t want someone to hold you ransom on their pursuit of this new title. Further, becoming a co-founder is another level of commitment. If they have demonstrated they are up for the task, set expectations about what new responsibilities come with the co-founder title. One of the challenges with adding a co-founder later in the process can be equity. Be generous with equity without sacrificing your ability to hire more great people. Don’t be afraid of big equity grants on 6 year vesting schedules. Lastly, you can make key employees feel exceptionally valued without giving them a co-founder title. Don’t rush into offering someone this new responsibility before thinking about how else to value their great work. Q2: How do I handle competitors trying to hire my best salespeople? Top salespeople are an incredible asset – there is always a risk that your competition will try to lure them away. Salespeople are motivated by money. If they think they will make more money with you, they will stay. However, this means they need to believe they can sell more with you. Make sure your commission plan is competitive. This allows you to further reward performance with less pressure to raise salaries and guaranteed money. Give your salespeople more accelerators for hitting or exceeding their targets. Make sure the targets are not unreasonable. This proactive approach can keep you in the driver seat. The golden ticket to stopping the competition from hiring away your best talent? Continuously create great reasons for top performers to stay. Q3: How do we keep our first employee as the company scales? So, one of your best engineers wants to leave and start their own company. And you’re worried others might leave with them? When you hire great talent, there is always the risk that they will leave to pursue their next great opportunity. Once someone talks about leaving, odds are they are going to leave eventually. The best policy for retention is love not fear. Wish them well. If you have the means to do so, consider investing in their next startup. Going forward, do a better job of understanding top employees’ motivations. You can provide more ownership to someone like this, much earlier in the process. Implement a transition plan. If they aren’t on a deadline, they might be willing to stay for a few months so you can hire a replacement. Along the way, make sure you understand if there is anything they are running away from. Most importantly, give others a reason to stay. If your startup offers more value to top performers than the alternative, you can make staying better than leaving.…

The Startup Help Desk

1
How to handle Underperforming Employees 22:01

39 weeks پیش22:01

22:01

In this episode we answer questions about underperforming employees. If you have a team, some people on that team will underperform. What do you do when that happens? Can you turn them around, or do you have to let them go? We are here to help! In this episode we answer questions including: How long should you give an employee to ramp up? Why would a top sales person start missing targets? What do you do about executives that aren't working full time? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: How long should you give an employee to ramp up? An underperforming new hire is not good news. You should be excited about new people joining your company, not concerned! It is critical to move quickly. For a technical new hire, you want them to at least be pushing code by the 2 week mark. If a new hire hasn’t made you say “wow” in the first 6 weeks, the odds of it working out are not in your favor. Overall, an 8-12 week ramp up timeline is reasonable, as long as you are seeing the proper early milestones and an acceleration of key contributions. That being said, if it is not working out by as early as the 2 week mark, you need to take action. Remember, the longer you keep someone who isn’t working out, the harder it is for them to explain the gap in their resume. Thus, deciding to part ways early in the process can benefit both your startup and the new hire. Q2: Why would a top sales person start missing targets? Start by investigating why they missed their targets. Is there not enough pipeline? Are their close rates low? Figure out if it’s the sales person, the pitch, the process, or another factor. Interact with the sales person regularly to correct course. Always make sure you are setting clear expectations. Get them a coach. Pair them up with someone doing well. In short, do what you can to intervene, understand the issue, provide support, and get back on the winning path. Top sales people are in high demand. If it turns out the performance issue is a result of them interviewing elsewhere, evaluate your incentives plan to see if you are creating enough reasons for them to want to stay and keep performing at a high level. Q3: What do you do about executives that aren't working full time? First, have a serious conversation about expectations around availability. Second, focus on why people want to stay. Give them reasons to want to work hard! Finally, make sure motivation and engagement is part of your interview process. Hiring motivated self-starters is always in season. Ultimately, you want underperforming executives to turn the tide and start creating more value for the company. Consider setting more ambitious goals for them. In doing so, you will have a measurable way to see if their output rises to the occasion which, in turn, should result in increasing their work-time presence. Include regular check-ins as part of the process to achieve the goal.…

The Startup Help Desk

1
What is Innovation? 20:53

41 weeks پیش20:53

20:53

In this episode we answer questions about innovation. Startups are expected to innovate, but what does that mean? What is innovation and how does it become an advantage? We are here to help! In this episode we answer questions including: What is innovation? Is there a process to innovation? What is the cost to not innovating? How do I know if I'm being innovative? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q0: What is innovation? Innovation is the process to generate a new method, idea, or product that solves a problem. Innovation is an umbrella term that includes entrepreneurship, corporate innovation, social innovation, and others. Adoption is key. Q1: Is there a process to innovation? Yes! However, innovation is not a direct line process. While there are common paths and milestones, the process requires judgement and the ability to cycle backwards and iterate. Key steps include: Small teams Be uncomfortable: short deadlines and pressurized situations The common start across every innovation process is to identify “the problem”. Talk to people. Don’t do surveys. You need to find problems people need fixed. When you have done enough user interviews and found a problem, define it with precision. Brainstorm a variety of ways that you can solve the problem. Then, another important “judgement” moment. Amongst all of the possible ways to solve the problem, prioritize one. Figure out the solution that is closest to magic but also plausible to build. Run fast, incremental tests to try to solve part of the problem for your “true believers” – the people who feel the problem strong enough that they are willing to try your v1 solution. Collect data from your tests, iterate, and test again. Resources available online include content about Human Centered Design, Design Thinking, and more. In fact, two of our hosts have produced tons of fantastic content on the topic: Ash Rust on Medium and Sean Byrnes’ The Breaking Point on Substack . Q2: What is the cost to not innovating? The cost for doing nothing can be catastrophic. A PwC survey of more than 4,700 CEOs worldwide showed that “45% of the respondents were worried that their businesses wouldn’t be viable in a decade without reinvention.” Innovation is a durable skill set. Innovation is hard to learn, but it is one of the few advantages you have. You won’t win by playing by the rules, you win by creating a new game. Q3: How do I know if I'm being innovative? There is no set of rules to guarantee that you are being innovative. Your innovation success requires adoption. That being said, if you answer “yes” to the following questions, you are on the right track: Are you talking to customer and users to understand where opportunities exist? Are you describing problems with precision? Are you running fast tests then iterating? If customers want your product or at least the idea of it, awesome. If competitors copy your idea, that’s a sign that you are bringing new value to an opportunity.…

The Startup Help Desk

1
Should you join an Accelerator? 23:12

47 weeks پیش23:12

23:12

In this episode we answer questions about startup accelerators. Accelerators are programs that promise to help improve your chances of startup success, but how do they actually work? We are here to help! In this episode we answer questions including: What do I get if I join an accelerator? How do I know if an accelerator is worth it? How do I get the most out of my accelerator? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: What do I get if I join an accelerator? Well-established accelerators typically provide: Cash: they typically invest. The amount varies and the terms are often on the lower side vs. what you could get from going directly to multiple investors to raise a round. Demo Day: the fastest way to 100 investor meetings. Accelerators host a showcase event for their startups and their network of investors to meet. This can be a huge value, helping you to line up investor meetings. Network: an accelerator immerses you into a network of fellow founders, investors, and company builders. Tools: accelerators may also provide tools to simplify how you connect with and benefit from the network. Healthy competition: working alongside and learning from other ambitious founders is a great way to create some healthy urgency for your startup. Serendipity: all of this combines to create new opportunities for you. If you put in the right kind of work, you may be surprised to see what doors open. Q2: How do I know if an accelerator is worth it? This is a critical question to ask; there are lots of snake oil salespeople. Ask yourself what you need first: Need help fundraising? YC has shown that a premier accelerator can help with that; however, not every accelerator has shown they can help. Need help selling? Some industry or focused accelerators can help teach you. Need help recruiting? Some accelerators can help mostly through association with their brand. Generally, there are cheaper ways to get the help an accelerator offers. When evaluating the benefits, consider the following value that accelerators can offer: Cash: is it at least 6 figures? Demo day: are there plenty of examples of recent multi-million dollar rounds from the program? Network: are there well known alumni and speakers at their events? Tools: do alumni report using their tools? Make sure the benefits they offer have substance. Q3: How do I get the most out of my accelerator? Set expectations with your co-founders about the desired outcome from the accelerator. Is it to accelerate sales? Is it to fundraise? Work backwards from your end goal so that you know where to prioritize your efforts. Talk to founders that have been through the same accelerator – preferably before applying! Identify what the most successful companies did in the program and make a plan to do those things. Once in the accelerator: Hit the ground running so you’re always at the front of your class. Take control of who you work with, rather than waiting for the accelerator to assign mentors. Be creative with your tests: your accelerator companions will be eager to help you amplify what you do!…

The Startup Help Desk

1
How to Build Your Sales Team 21:30

50 weeks پیش21:30

21:30

In this episode we answer questions about building your sales team. Many startups sell their product via sales people, and building your sales team is one of the most important things you will do. We are here to help! In this episode we answer questions including: How do I hire my first salesperson? What is a sales commission plan? How do I know if a salesperson is doing well? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: How do I hire my first salesperson? To source candidates, consider various hiring platforms, such as Craigslist, Indeed, LinkedIn, ZipRecruiter, and Wellfound. Your network may have fantastic candidates. Ask fellow founders and investors. Check on people you have worked with previously. To filter and evaluate candidates, start with a project, such as a PowerPoint sales pitch. Filter further via phone interviews, ultimately leading to an onsite. Ash sparked some serious debate with his recommendation on the final phase of the hiring process! To combat the high attrition rate in sales and to hedge against attrition, he suggested making 3 hires per sales role that you want to fill. Your first sales person (or three!) will contribute to your startup culture. Set up this new hire for success. Before you hire your first salesperson, make sure you can clearly articulate a few key aspects of your business, such as: The problem you solve. Your customer profile. How your product solves their problem. Why current customers value your product. If you do not know the answers to these questions, you are setting this first sales hire up for failure. Q2: What is a sales commission plan? Sales people get paid two ways: salary & commissions. A sales commission plan describes the income a sales person makes based on performance. A simple example of a sales commission plan is to pay a sales person a % of the deal value that they close (i.e. 10% of all deals). Companies like sales commission plans because they allow the business to both incentivize and reward performance. A good sales commission plan clearly ties performance to important areas of growth for the business. The plan you choose is important because it provides specific incentives! Do you want your sales people chasing really big deals? Or should they prioritize a larger volume of little deals? Your sales commission plan can influence priorities. Q3: How do I know if a salesperson is doing well? It is hard to distill progress vs. noise. There are steps you can take to add more objectivity to your evaluation process. They should: Immediately shadow you in all deals. Master your pitch in their first week or two. Book lots of calls: ideally 10 a week. Not focus their energy on a small number of marquee leads. Use and update the existing sales playbook vs. going in a new direction. Generate their own pipeline within a month. Own their own deals after a month. Move deals forward in their first quarter. If your sales cycle is less than 45 days, they should close their first deal in their first quarter. Sales people need to be ROI positive, so they should pay for themselves fairly quickly.…

The Startup Help Desk

1
How to Raise VC Funding 25:31

1 year پیش25:31

25:31

In this episode we answer questions about raising money from Venture Capital funds. Many startup companies seek VC funding, but it can be a complex process if you haven't done it before. We are here to help! In this episode we answer questions including: Is a SAFE or priced equity round better? What's the recommended amount to raise at every stage? How do I meet investors to pitch? All of these questions were submitted by listeners just like you. You can submit questions for us to answer on our website TheStartupHelpdesk.com or on X/Twitter @thestartuphd - we'd love to hear from you! Your hosts: Sean Byrnes: General Partner, Near Horizon www.nearhorizon.vc Ash Rust: Managing Partner, Sterling Road www.sterlingroad.com Nic Meliones: CEO, Navi www.heynavi.com Reminder: this is not legal advice or investment advice. Q1: Is a SAFE or priced equity round better? There is no right answer that you can apply to every situation. A SAFE is often faster, less complex, and maintains more control for the founders. Because of their simplicity and the flexibility they offer to an unproven startup, SAFEs are a frequent choice for an early-stage startup that is still figuring out much of its business. However, there are plenty of situations where a priced round makes sense. A priced round can provide more clarity about ownership and the present valuation of the company. However, this clarity adds complexity to the process. In addition to needing to negotiate with more precision about the valuation and ownership, a priced round usually involves a board seat for an investor. Thus, you are forcing your company to grow up a lot right now with a priced round. Q2: What's the recommended amount to raise at every stage? Consider raising as little as possible – enough to get to your next milestone so you can raise the next round. Capital is expensive! While the round size can vary widely from one startup to the next, these are more common amounts that startups raise at key stages: Pre-seed - $250-$750k Seed - $1-3M Series A - $5-10M Series B - $15-25M Series C - Anything can happen How do you which stage you are at today? It’s hard to know with complete confidence until you go out and raise! Q3: How do I meet investors to pitch? Volume is key when it comes to a successful fundraise. The following avenues are great channels for meeting investors: Warm intros from other entrepreneurs is the golden ticket. With high quality emails, cold outreach can generate a ~30% response rate. Conferences and events. Press. Customer referrals causing inbound. Make it easy for people in your network to make warm intros: send an email blurb that they can easily copy and paste. And of course, consistently reach new milestones for your business – don’t forget that part of the equation!…

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