Startup Therapy

Latest Episodes:

What Do We Lose When We Sell Our Startups? Jan 18, 2021

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about the emotional toll on Founders when they sell their business, how to spend time when the Startup is gone, losing authority and level of importance, if there’s a way to prepare to become an ‘exited’ Founder.

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Resources:

https://www.startups.com/begin

What to Listen For

00:00 Intro
00:25 Some of the potential downsides when selling a Startup
03:38 How much our Startup is tied to our sense of purpose
09:18 Concentration of excitement and purpose
13:21 That feeling of being needed
17:30 The horrible feeling of never being able to do it again
20:20 When you become an “ex” or “former” CEO
26:23 Without a business, how will you spend 16 hours a day?
30:40 Equating work hours to family time
34:12 Preparing to become an ‘exited’ founder

We Can't Keep Ignoring Founder Emotions Jan 11, 2021

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about the impact of Founders feeling uncomfortable about sharing their emotions, why you are being put in the wrong light, unpacking emotions to show vulnerability, and the difference between problems and emotions.

Listen in for more tips on being an approachable Founder!

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Resources:

https://www.startups.com/begin

What to Listen For

00:00 Intro
00:44 Founders not feeling comfortable sharing their emotions
04:41 The pride and ego tide into the business
09:55 Why focus on other aspects of your business
13:30 How to unpack emotions and do something about it
21:15 Our problems and emotions are two separate things
26:10 Most founders keep their vulnerabilities
28:14 How being open impacts founder-team relationship
32:19 When everyone around puts you in the wrong light

Founders: All We Make are Bad Decisions Jan 04, 2021

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about using passion to pursue a business, how to differentiate novelty from passion, why founder burnout is common, and why identifying your theme is important before starting a business.

Listen in to test if you're passionate enough to start a business!

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What to Listen For

00:00 Intro
00:59 What moment turned into a passion?
05:02 Mistaking novelty as passion
08:42 The problem with purpose we all run into
14:14 When there’s no curiosity and passion, your role changes
17:13 Strategic planning: when growth is the only business metric
22:58 Find a theme that you’re passionate about
31:54 The energy in the early days can fade

The Benefit of a Hard Reset Nov 23, 2020

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Elliot talk about the benefits of a hard reset for a Startup, letting go of liabilities in exchange for a fresh start, and identifying priorities when going through a hard reset.

Listen in to know why a Startup reset can sometimes help save a business!

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What to Listen For

00:00 Intro
00:47 Benefits of a Startup's hard reset
04:16 Outsourcing based on what may happen
08:19 Part of a hard reset is getting fresh talents to join the team
12:27 With a rest, what does the staff look like?
15:12 Take inventory of the stuff that didn't work
18:20 Businesses walking away from monthly liabilities
22:06 Shred expenses and cut old agreements to reset
25:51 Sometimes, a start over is best to be profitable
27:51 If you're thoughtful, can build a more nimble business
30:01 Some hard events push for a reset, for decisions to be made

Why Every Founder Needs a Founder Group Nov 16, 2020

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Ryan talk about why founders need to belong in a therapy group, the benefits of voicing out your worries as an individual, and setting goals for yourself, not just your Startup.

Listen in to know how founders can effectively unload personal struggles!

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What to Listen For

00:00 Intro
00:58 How lonely are founders?
04:06 The things that founders can't share
10:22 Founders Group at Startups.com
14:37 How does trust develop within the founders group?
21:11 A group can't converse when they have differing ideas
28:35 Empathy for the members is equally important
33:03 The three questions to ask in every session
33:42 What keeps you up at night?
39:27 What do you need help with?
44:52 How can the community here support you?
47:51 Then, the founders talk about their goals
51:23 The point of a clarity call
52:35 Do you justify that every other goal is important, but yours?
54:43 When trust is established, the group can accomplish anything
56:06 Email us or visit groups.startups.com

When Are Founders Just Employees? Nov 09, 2020

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Elliot talk about how founders struggle to negotiate their compensation, what should happen in cap table discussions, and why founders should rethink how they get paid.

Listen in to get an idea how founders benefit more from their company!

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What to Listen For

00:00 Intro
00:50 What's going through your head?
02:21 When it isn't worth it anymore
06:02 The cap table discussion
09:26 When the thing you're most excited about is gone
11:46 Don't disincentivize employees by cramming them down
18:00 Have a conversation with investors to set the process you need to adhere to
21:25 Negotiate comp packages based on milestones
23:27 Founders should rethink how they get paid
25:12 What will make you keep working in the company?

We get Paid in Finishes, not Starts Nov 02, 2020

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Elliot talk about spending a decade to build a business from scratch, how past success can’t dictate the next success, and why nothing matters until the end goal is reached.

Listen in to learn how founders grow an idea into a successful Startup!

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What to Listen For

00:00 Welcome back to the Startup Therapy Podcast!
00:55 How long does it take to reach success?
02:28 The incubator project in 2001
03:39 The split in focus with multiple projects
07:54 How long will it take to prove a good idea?
10:33 Commit time to grow your company
12:03 Every idea is a bad idea unless you act on it
15:59 A problem you are willing to invest in
17:42 The early high-five indicators
18:55 What will a decade cost you?
22:03 "Don't work on something you don't care about." - Elliot Schneier
24:13 Focus and the right idea lead to success
27:04 Past success doesn't guarantee the next success
30:15 How do you explain commitment to new hires
31:22 Nothing matters until you reach the finish line

You Are NOT Your Startup Oct 26, 2020

Show notes

In today’s episode of Startup Therapy Podcast, Wil and Ryan discuss why founders should separate themselves from their Startups, the lack of predecessors to guide young founders, what else to focus on besides building the business, and maintaining individuality.

Listen in to learn about individuality and separation from your Startup!

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What to Focus on to Get a Hit

[00:00:32] Are we a separate entity from our Startup?
[00:05:58] For founders, everything should have been right
[00:10:04] There's a pattern to follow, young founders don't have that
[00:11:24] There's a company that you do, it's not who you are
[00:16:01] It actually isn't validation, it's a relief
[00:18:14] Self-inflicted prison: you get stuck in your Startup
[00:20:06] It's not always about how your Startup is doing
[00:23:30] What do you do when you're not building your Startup?
[00:23:30] What can we do for other founders?
[00:26:33] Why is it affecting you at a personal level?
[00:29:14] Your Startup is not who you are

How to Translate What Investors Tell Us Oct 19, 2020

Show notes

Our focus in today’s episode is listening to what investors are actually saying. Wil and Elliot discuss the direct and indirect ways investors say ‘No’, the passive-aggressive questions, when founders become annoying, and how investors should behave.

Listen in to learn how to translate what your investor is saying!

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What to Focus on to Get a Hit

[00:00:40] Why founders can't understand their investors?
[00:02:24] The NO's that sound 'Yes'
[00:06:18] Venture Community vs Angel Investors
[00:07:11] From an analyst to a partner
[00:09:38] Is it a yes or a no?
[00:10:35] Understanding the user pipeline and deal flow
[00:12:27] What happens when you press on investors
[00:15:45] When investors are interested, they'll blow you up
[00:17:55] Time kills deals
[00:19:34] If it's not a resounding Yes, it's probably a No
[00:22:04] The tendency to annoy investors when you can't take the hint
[00:25:12] Show investors a drastic demand in the product
[00:28:08] How should investors behave?
[00:34:28] Always make a statement in a question
[00:36:47] Education on a fairly complicated space
[00:38:20] The passive-aggressive questions
[00:42:00] Investors saying 'maybe'
[00:45:10] Investors should be definitive in saying 'No'

Why Don't We Feel Like We've Made It Oct 12, 2020

Show notes

Our focus in today’s episode is how to get a hit on your business. Wil converses with Sam Parr, Co-Founder and CEO of The Hustle, a massively successful email newsletter to help entrepreneurs make smart business decisions fast by providing information in an easy to consume format.

Wil and Sam look back at the early stages of their Startups, how to gauge financial security, why an early start is an accelerant, tough conversations with investors, and incredible stories of successful Startup businesses.

Listen and learn how to get your first million!

What to Focus on to Get a Hit