Podcasts by Category
The "No BS" version of how startups are really built, taught by actual startup Founders who have lived through all of it. Hosts Wil Schroter and Ryan Rutan talk candidly about the intense struggles Founders face both personally and professionally as they try to turn their idea into something that will change the world.
- 251 - This is BOOTSTRAPPED - 3 Strategies to Build Your Startup Without Funding
In this episode of the startup therapy podcast, Ryan Rutan and Wil Schroter delve into bootstrapping a startup. They address common misconceptions about funding, emphasizing the importance of making do with what you have and prioritizing what's truly necessary for business growth. The conversation covers practical ways to manage expenses without external funding, including strategies for hiring, marketing, and managing operational costs through discipline and creative solutions.
The hosts share personal experience on how to navigate the challenges of bootstrapping, highlighting the importance of being resourceful, making money to spend money, and avoiding typical startup traps.
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Resources:
Startup Therapy Podcast https://groups.startups.com/Join our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan Rutan
00:00 Welcome to Startup Therapy00:08 The Realities of Bootstrapping
01:35 Navigating the Bootstrapping Journey
04:50 Mastering the Art of Compensation in Bootstrapping
22:00 Innovative Marketing on a Shoestring Budget
26:50 Leveraging Vendor Terms and Historical Examples
28:18 The Power of Deferred Payments in Business Growth
33:20 Strategic Use of Credit Cards for Business Expenses
42:20 The Path to Efficient Startup Growth
Mon, 18 Mar 2024 - 250 - The Spectrum of Investor Advice
In this episode of the Startup Therapy Podcast, Ryan Rutan and Wil Schroter discuss the complexities of handling feedback from investors, emphasizing the critical need for founders to properly qualify and assess the advice they receive. They highlight the dangers of acting on feedback without considering its relevance, potential bias, and the investor's qualifications. The discussion covers the spectrum of investor types, from well-meaning but inexperienced individuals to top-tier venture capitalists, and the importance of understanding the context and motivation behind their advice.
You will find how to advocate for a balanced approach that involves questioning, verifying, and thoughtfully considering advice before taking action.
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Startup Therapy Podcast https://groups.startups.com/Join our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanMon, 11 Mar 2024 - 249 - $10K Per Month isn't Just Revenue. It's Life Support
In today's Startup Therapy Podcast, Wil and Ryan talks about why earning atleast $10,000 per month is one of the most important milestones in your startup career. They stress the need to do whatever it takes to keep your business alive. Hitting this milestone gives you room to handle setbacks and shows that you're making real progress. Tune in for tips on managing startup finances and staying resilient in the ever-changing business world.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:08 The most important milestones in your business06:20 Everybody’s number is different10:27 The existential costs of both a business and its founders12:28 Do whatever it takes to reach the basic milestone16:12 Your startups should survive restarts19:50 The importance of having a backstop24:45 Maybe it’s not your year26:05 Finding value in small milestonesMon, 04 Mar 2024 - 248 - Why Do VCs Keep Giving "failed" Founders Money?
In today's Startup Therapy Podcast, Wil and Ryan talks about why investors choose to invest on “failed” founders. They debunk the myth that failure marks the end of a founder's journey and shows why giving people a second chance is the best investment. Tune in as they explore the investor mindset, focusing on why they prefer to invest in founders who have shown they can bounce back and learn from failure, ultimately changing how we think about startup success.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:03 Why giving people a second chance is the best investment02:29 Redefining failure04:59 “One failure doesn’t make the person a failure…”09:30 If you’re making mistakes, you’re also learning10:05 Spotlight on failure13:59 The value of experience16:49 Before the failure, there was a success20:33 Trust and familiarity in investor-founder relationships23:21 Challenge of investor decision-making27:14 Focusing on building relationships30:42 Investing in the founder’s mindset rather than ideasMon, 26 Feb 2024 - 247 - If It Makes Money, It Makes Sense
In today's Startup Therapy Podcast, Wil and Ryan talks about the importance of generating revenue and being willing to do whatever it takes to move a startup forward. They discuss why it's crucial for entrepreneurs to prioritize generating income and share insights on how to overcome challenges in achieving financial sustainability.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:18 Difference between good and bad revenue01:34 Unexpected opportunities05:22 Prioritizing cash flow in the startup journey08:43 The importance of runway11:43 Focusing on startup survival 13:31 Reality of startup timelines15:00 Why surviving matters more than speed17:03 Overcoming self-imposed barriers18:53 The value of paid product discovery22:00 Learning through services24:18 Building MVPs that truly deliver value26:10 How side gigs can propel your startup forward30:36 Sacrifice and success35:13 Willingness x Hard Work = CashMon, 19 Feb 2024 - 246 - The Hidden Treasure of Failed Startups
In today's Startup Therapy Podcast, Wil and Ryan talks about the hidden treasure of failed startups. From redefining valuation to creative acquisition strategies, they share insights on salvaging value from adversity. Tune in as they uncover the secrets to success amidst startup wreckage.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:42 What happens when venture-funded companies falter06:11 Rethinking asset value07:19 Recognizing when to pivot or let go09:48 Business value vs. Venture value10:52 True motivations behind exits13:26 Disconnect between opex and value15:57 Realities of startup valuation18:59 Transforming nuisance assets into opportunity21:08 Ownership and acquisition22:27 Reclaiming startup assets25:44 Startup value reset29:56 Finding value in failed startupsMon, 12 Feb 2024 - 245 - My Competitors Just Raised Funds - Am I Screwed?
In today's Startup Therapy Podcast, Wil and Ryan talks about what happens if your competitor got funded. Join as they discuss the common concern of competitors securing funds and share valuable perspectives on why this might not be a cause for panic. They highlight the importance of maintaining focus, strategic planning, and turning the situation into an opportunity for your startup's success.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:20 What happens when your competitor gets funded04:15 Is fundraising all glitz and glamor?06:08 The pitfalls after getting funded10:20 Crowdfunding: Hype vs. Reality12:49 When Iivestors become your customer14:56 You now need to raise more money18:08 When focus shifts from profit to preferences25:38 The hidden costs of funding30:04 How founders see beyond competitor funding32:11 How to stay focusedMon, 05 Feb 2024 - 244 - Can Having Zero Experience Be a Huge Asset?
In today's Startup Therapy Podcast, Wil and Ryan explore whether lacking prior experience can be a game-changer for startup founders. Having zero experience means you're new to something, and surprisingly, that can be a good thing. It brings a fresh perspective and adaptability. But for startup founders, could a lack of experience help you succeed or fail?
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:09 Is experience an asset?03:19 The bias of experience08:17 Balancing Experience and the Unknown11:45 Why not?12:50 Stop using someone else’s experience19:11 Other people’s path is not yours20:14 The best innovations are micro-innovations21:47 Be too dumb to fail26:09 Know what you know and don’t know30:02 Just knowing the basicsMon, 29 Jan 2024 - 243 - What If I Build a Startup That Just Makes Money?
In today's Startup Therapy Podcast, Wil and Ryan talks about whether a founder should focus on building a startup that just makes money. Ever thought about ditching the whole fundraising craze and simply building a startup that puts money in your pocket? Join Wil and Ryan as they navigate the path less traveled, exploring the freedom and sustainability that comes with creating a startup designed to consistently generate profits. It's not just about surviving in the business jungle, it's about thriving on your terms.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan Rutan
00:00 Intro00:08 The end of the fundraising era04:14 Building success without venture funding07:09 Trading freedom for growth09:05 True value of incremental business growth10:14 How bootstrapped businesses create sustainable wealth14:54 Returning to the fundamental principles of business16:18 Always have a plan B19:22 Small wins add up23:32 Founders need to play defense25:58 Profits over hype
What to Listen ForMon, 22 Jan 2024 - 242 - How to Get Rockstar Startup Advisors
In today's Startup Therapy Podcast, Wil and Ryan discuss how you can get rockstar advisors for your startup. Discover the common mistakes people make when they are getting people to be their advisors and what are the best strategies for asking them to be your advisor. Don’t miss out and find out if your startup needs an advisor or do you just need an advice?
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:53 What is NOT an advisor03:32 Advisors don’t want to spend a lot of time with you04:59 The common mistakes people do when recruiting advisors07:06 Don’t sell your soul for a moment in time08:01 Just be willing to ask11:41 Other people don’t know your “rockstars”14:25 Possible reasons why they are advising you17:46 How to ask someone to be your advisor?24:51 The limitations to an advisor’s knowledge29:31 Advisors beyond social validation32:58 Getting an advisor is a give and get 39:31 What’s holding you back to ask?Mon, 15 Jan 2024 - 241 - Job vs Startup - What Should I Do?
In today's Startup Therapy Podcast, Wil and Ryan discuss whether you should get a steady paycheck or start your own startup. Choosing between a regular job and starting your own business is a big decision many face. Working a steady job offers security and a predictable income, while launching a startup is all about taking risks and creating something from scratch. Join them as they unpack the realities behind these choices, providing insights that could reshape your career perspective.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:23 Should you get a job or start a business?03:43 Age matters13:15 Soul vs. Salary20:03 How much downside can you take?22:11 Realistic probabilities of success28:10 Three types of career choices33:45 Risk, goals, and financial realitiesMon, 08 Jan 2024 - 240 - Founders Need a Steady Hand in the Storm
In today's Startup Therapy Podcast, Wil and Ryan discuss the idea of managing chaos as a founder. Keeping a startup on track is like steering a ship through rough waters. Founders must stay calm and focused amid the chaos, juggling priorities and tackling problems as they arise. It's about staying cool under pressure, sorting out what matters most, and finding opportunities in the midst of the storm. Ultimately, a founder's ability to handle the daily whirlwind defines their success in the unpredictable world of entrepreneurship.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:56 How do you manage the chaos of being a founder?01:43 The first step to managing chaos is accepting chaos02:10 The problems will be endless05:06 Choose which problem to focus on10:46 Isolate the chaos into small, solvable problems13:53 The cost of lost focus in leadership15:25 Prioritization and avoiding myopic solutions21:11 Stack ranking of problems23:06 Balancing individual tasks with collective objectives25:12 Time as a problem-solving tool34:24 Create focus in chaosMon, 04 Dec 2023 - 239 - So You Think You Need a Co-Founder?
In today's Startup Therapy Podcast, Wil and Ryan discuss the idea of having a co-founder. A co-founder can offer numerous benefits for a business. It allows for shared responsibilities, diverse skill sets, and a support system during challenging times. However, finding the right co-founder whose values align with yours and who complements your strengths and weaknesses is crucial for a successful partnership. In this episode, let’s find out how you can choose the right co-founder for your startup and know if you really do need one.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top FoundersCheck in with us on LinkedIn | Wil Schroter | Ryan Rutan
What to Listen For
00:00 Intro00:36 Is it a good idea to get a co-founder?02:48 Different categories to consider when picking a co-founder05:01 ‘Who’s willing to do this?’07:30 The criteria that founders set for choosing their co-founder09:29 When you DON’T need a co-founder10:32 It’s an expensive bet11:40 Try before you buy16:50 Everybody wants the upside, nobody wants the downside21:23 Find someone committed and willing to outwork you27:03 Are your co-founders valuable?29:27 Getting involved with someone in the long term is hardMon, 20 Nov 2023 - 238 - Can I Scale My Impact Without Scaling My Team?
In today's Startup Therapy Podcast, Wil and Ryan discuss the concept of scaling without adding or hiring more people. Making a significant impact doesn't always mean having a large team. You can achieve remarkable results with a compact and efficient group. Instead of expanding your team, you can focus on optimizing processes and leveraging innovative tools. Let's delve into the strategies that empower a small team to make a substantial difference, proving that size isn't the only measure of success.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:23 Small Team, Big Dreams08:03 Efficiency vs. Headcount12:03 Size Creates Dysfunction13:59 The Ripple Effects of Company Growth15:27 The Myth of the 70% Employee18:22 Scaling without Headcount20:58 Cutting Back Workload Instead of Adding People25:01 Building Impactful Products with Minimal StaffMon, 13 Nov 2023 - 237 - Grind or Guilt, the Founder Dilemma
In today's Startup Therapy Podcast, Wil and Ryan discuss about the grind and guilt dilemma of founders. Founders often struggle with the never-ending hard work of growing their business, driven by their passion and ambition. This can create a persistent feeling of guilt as they try to juggle work demands with their personal life and health. So how can you achieve a harmonious equilibrium that allows you to pursue your entrepreneurial dreams while also nurturing your mental and physical health and maintaining meaningful relationships?
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top FoundersCheck in with us on LinkedIn | Wil Schroter | Ryan Rutan
What to Listen For
00:00 Intro00:08 Guilt out of fear04:31 The fear of failing as a founder08:57 Pride, guilt, and the struggle with asking for help10:15 Entrepreneurship as a way out13:29 Fear as a superpower16:18 When guilt compounds…18:31 The nobility in hard work20:22 When work defines comfort22:39 More money, more problems25:08 Passion and pressure28:45 Fear and greed in later life31:06 Escaping the grip of work addiction36:58 Self-imposed workaholismMon, 06 Nov 2023 - 236 - Are Founders Driven by Fear or Greed?
In today's Startup Therapy Podcast, Wil and Ryan discuss whether founders are driven by fear or greed. In the world of startups, there's a question that keeps coming up: what drives founders? Is it the fear of failure, or is it the pursuit of wealth and success, often labeled as greed? In this episode, we delve into the motivations behind entrepreneurs' unique journeys. We explore the delicate balance between these two forces, seeking to uncover what truly fuels the hearts of founders as they navigate their daily challenges.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:37 Are founders really greedy?05:00 Fear as motivation10:54 Getting paid as a founder16:19 A founder's fear of being called “greedy”20:00 Recognizing founder’s achievements22:26 Fear and greed cycleMon, 30 Oct 2023 - 235 - What if I'm Building the Wrong Product?
In today's Startup Therapy Podcast, Wil and Ryan discuss how you as a founder will know if you’re building the right or wrong product. Have you ever had an idea, but you're just not sure if it's good? It's something that many entrepreneurs can relate to - that anxious feeling of whether what you think would be a successful product could actually just be a waste of your time. So how do you actually know if you’re building the right product?
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:08 How do you know if you’re building the right product?03:07 Ask your customers first05:32 Don’t fall in love with your product idea08:07 Start with solving a problem09:38 Lessons from the Fundable experience16:52 The MVP approach to startup ideas20:49 Learning from past mistakes27:45 When great products fail to shine32:35 Knowing when to drop a product ideaMon, 23 Oct 2023 - 234 - How Startups Actually Get Bought
In today's Startup Therapy Podcast, Wil and Ryan discuss how startups are actually bought and sold. The process of buying and selling startups can be tricky. It's easy to get confused about how much a startup is really worth, and people sometimes have high hopes that don't match reality. When it comes to getting paid, the way deals are set up can be complicated, with some money coming right away and the rest later, often based on certain goals. To succeed in this startup world, it's important to understand these details and be realistic about what to expect.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:26 How are startups bought and sold?02:32 Know and understand how the process works07:45 Inbound calls in business sales11:35 What's your business really worth?16:35 Startup valuation21:54 The reality of getting paid when selling your businessMon, 16 Oct 2023 - 233 - Am I Quitting My Startup, Or Letting Go?
In today's Startup Therapy Podcast, Wil and Ryan discuss when to quit or let go of your startup. If your startup has struggled for an extended period without meaningful progress, causing financial strain, and lacks market validation, it might be time to consider quitting. Additionally, if the startup is taking a toll on your physical and emotional well-being, negatively impacting relationships, or if you've lost passion for the project, quitting could be a wise decision. Remember, quitting isn't always a failure; sometimes, it's a strategic move toward a brighter entrepreneurial future.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:09 Do you want to quit?03:41 Would you stay in your startup if it were a job?06:48 When quitting is the smart choice09:08 What is quitting?14:01 Deciding when to quit a startup19:29 Staying for fear of failure26:29 When to let goMon, 09 Oct 2023 - 232 - How long do we ACTUALLY have?
In today's Startup Therapy Podcast, Wil and Ryan discuss the challenge of maintaining a long-term vision in the fast-paced world of startups. It's easy to get sidetracked by short-term goals and immediate survival mode. But here's the deal: Founders need to find that sweet spot between the urgent stuff and the big-picture dream. Regularly reminding themselves why they started this journey and resisting the temptation of trendy distractions can help them stay on track. It's not about chasing quick wins; it's about building something that stands the test of time.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:08 When startups get stuck in survival mode02:20 Distractions from a long-term vision07:43 Confusing urgency from short-term decision-making14:06 “It takes time to build a good business…”16:38 Stop burning yourselves out over short-term expectations19:52 Ensuring your best work without regret24:42 Balancing speed and quality26:36 Building something meaningful over a decadeMon, 02 Oct 2023 - 231 - Can I replace myself as a Founder?
In today's Startup Therapy Podcast, Wil and Ryan discuss if you can replace yourself as a founder. Founders often struggle to step aside in a company because their deep commitment and personal connection to the company's mission are hard to duplicate. Their passion, values, and individual perspective are tough to find in an outsider, potentially causing a mismatch in goals and values. Moreover, it's emotionally challenging for founders to entrust someone else with their vision.In a nutshell, founders can't easily replace themselves because their unique identity and the company's culture are closely linked, making it hard to find someone who truly embodies their spirit.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:35 Can we replace the founder?03:02 Why changing the founder wouldn’t work06:06 “You can’t hire and train passion…”14:10 Know who you’re hiring19:14 Wanting to sabotage the new person22:08 Incentives in hiring26:31 You can’t replace yourselfMon, 25 Sep 2023 - 230 - Who am I Really Competing Against?
In today's Startup Therapy Podcast, Wil and Ryan discuss who founders are really competing against. Founders are often never satisfied because they constantly set new, self-imposed benchmarks and goals. They compete against a changing definition of success, driven by their ego and perceptions of their peers. As they reach one milestone, they quickly construct new challenges, making it challenging to ever achieve lasting contentment in their entrepreneurial journey. Finding a balance between ambition and recognizing their achievements can lead to greater satisfaction and a healthier perspective on success.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:24 A founder's rollercoaster of satisfaction03:51 Why successful founders are never satisfied05:45 Peer competition10:37 The problem with comparison15:25 Competing for our own safety20:49 “We create a much more unsafe environment…”22:36 Competitors ability to affect your safety24:10 Endless chase of success28:34 Ego vs. Contentment33:38 Why we can’t find the finish lineMon, 18 Sep 2023 - 229 - Investors are NOT on Our Side of the Table
In today's Startup Therapy Podcast, Wil and Ryan discuss the topic that investors and founders are not on the same side of the table. In the startup world, it's important to recognize that investors and founders don't always see eye to eye. Investors are primarily looking to make money, which can sometimes clash with a founder's vision. Balancing these interests can be tricky. Founders need to stay true to their startup's vision while also considering what their investors want, fostering a productive relationship. Good communication and finding common ground are key to ensuring the startup's success in the long run.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:08 Investors are only on the same side when everything is good04:07 This is your only bet, not the investor’s07:21 Guarantee of a paycheck10:15 Why does it matter to be on the same side?15:52 When investors believe you’re on the same side of the table…17:14 Investors have the luxury of saying no25:10 What’s valuable to you might be different from the investorsMon, 11 Sep 2023 - 228 - Plan for Bad Times - Budget in Good Times
In today's Startup Therapy Podcast, Wil and Ryan discuss planning for the bad times and good times in your startup company. It's not all sunshine during the good times, and not all doom and gloom during the bad times. It's about striking that perfect balance in your startup's strategy. The secret to achieving longevity in the ever-shifting landscape of entrepreneurship? Continuous adaptation, vigilant monitoring of key performance indicators, and the ability to pivot when necessary, all while staying true to your business's core mission and values.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:59 Good and bad times aren’t just a single moment in time04:31 Are founders aware of these oscillations?05:45 “In good times, we plan for good times…”10:04 What is longevity for startups?19:04 Make decisions based on the likelihood of the outcome21:03 Opportunities are planted during bad times26:56 Plan for the hibernationMon, 04 Sep 2023 - 227 - When a $40M is More Than a $200M Exit
In today's Startup Therapy Podcast, Wil and Ryan discuss why a lower valuation exit can offer founders more advantageous financial outcomes than a higher valuation exit. This happens because of things like how much of the company's ownership each founder still has and what investors are expecting from their investments. As startups grow and get more funding, founders might end up owning less of the company. So even if an exit seems worth more on paper, the actual money each founder gets can be less due to having a smaller piece of the pie. Let’s delve into the maze of startup exits, exploring the delicate interplay between exit values, ownership, and the real-world implications.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:28 Navigating funding & exit strategies05:59 Optionality 09:23 Outcomes can vary depending on the funding path chosen13:46 Founder fatigue17:53 What are preferences?25:34 Protect your downside firstMon, 28 Aug 2023 - 226 - Don't Fear the Reaper (AI Edition)
In today's Startup Therapy Podcast, Wil and Ryan discuss why you shouldn’t fear the AI revolution that’s coming. Founders shouldn't fear changes in technology because embracing advancements can bring various advantages. These changes often lead to improved efficiency, streamlined processes, and better decision-making. Adapting to technological shifts enables founders to stay competitive, innovate, and explore new opportunities, ultimately fostering growth and success.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:44 Technology is always changing03:51 What happens when a revolution comes around?07:23 Why are we afraid of this?12:12 Become better tool operators17:40 Is displacement a bad thing?24:57 Not embracing the future can destroy you28:26 Be on the right side of change30:57 Change is scary33:25 AI taking decisions for us38:06 Are people lazy by nature?42:24 The negative effects of technologyMon, 21 Aug 2023 - 225 - Don't Let Investors Become Your Customers
In today's Startup Therapy Podcast, Wil and Ryan discuss why you shouldn’t let investors become your customers. When you prioritize investor demands over customer needs in pursuit of additional funding, you risk losing touch with your market's true requirements. This could lead to developing products or services that don't align with customer expectations, potentially resulting in poor adoption and revenue generation. Over time, prioritizing investor preferences over customer feedback could erode customer trust and loyalty, negatively impacting your long-term business sustainability.
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:12 Optimizing for what investors want02:13 Two types of investor feedback03:47 Being in the capital raising business04:53 What happens when you pitch to investors vs. provide to customers06:10 “You’re just as vulnerable at the beginning of fundraising as you are at the end of fundraising…”07:44 The investors don’t matter to the business09:10 Jumping on trend for the money16:37 Investors have a different game that they’re playing18:15 Investor Optics vs. Customer Value22:11 Navigating investor expectations and customer demandsMon, 14 Aug 2023 - 224 - We Can't Stay Out Of The Game For Too Long
In today's Startup Therapy Podcast, Wil and Ryan discuss what happens when founders stay out of the game for too long. Startup founders can't afford lengthy breaks from the game because the skills and mindset crucial for entrepreneurship can weaken over time. Startups demand ongoing learning and adaptability due to their rapid evolution. But here's the burning question: Can you still come back strong after a break, ready to tackle the dynamic challenges of the startup world?
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Resources:
Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:17 When you’re not relevant anymore03:58 The startup muscle05:54 Challenges in re-entering the game08:27 The difference between taking a rest and quasi-retiring10:08 Too soon or too late?12:51 Relationships and relevancy15:17 You lose relevance, relationships, and your mind18:37 Pitfalls of taking a break22:51 Don’t stay out of the game too longMon, 07 Aug 2023 - 223 - What if our Dreams are an Illusion?
In today's Startup Therapy Podcast, Wil and Ryan discuss if your dreams as a founder is an illusion. The dream seems so valuable because it's something you don't have right now. But it's essential to play test your goals and ask yourself if you'd truly enjoy it once you achieve them. Sometimes, the journey and the process of pursuing a startup are more important than the final outcome, so it's crucial to think about whether the sacrifices are really worth it for your long-term happiness and sense of purpose.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:08 What if your startup dream is bullsh*t?03:11 Investing in something uncertain07:59 Did you test-drive it?09:45 The cost of being wrong19:33 Assessing risk in a startup25:53 It’s valuable now because you don’t have it27:48 Recalibrate your goalsMon, 31 Jul 2023 - 222 - What if this isn't a "Big Business"?
In today's Startup Therapy Podcast, Wil and Ryan discuss the topic of building a “big business”. Scaling rapidly can lead to market dominance and attract investors, but it also involves higher resource demands and potential pitfalls. On the other hand, building a profitable and sustainable business may allow for steady growth, reduced risks, and long-term viability. By reevaluating goals and priorities, founders may discover the benefits of a steady and enduring approach that aligns with their vision and values. So what’s it going to be? Are you going to go big or go home? Or are you going to go steady and go long?
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:24 You don’t need to make a “big business”06:13 Who is this big enough business for?09:51 Building a profitable business is much easier to achieve13:01 Focus on your actual goal15:35 The path to freedom19:23 When people belittle more money24:02 Think about sustainability instead26:23 The probability to build a big business is insanely small28:23 Dimes vs. Dollars businesses31:46 The dangers of aiming too high34:01 Goals and metrics when it comes to scaling a business40:13 Problem-solving and resource efficiency in startups43:02 Stop pleasing investorsMon, 24 Jul 2023 - 221 - Founders, Not All Problems Are Apocalyptic
In today's Startup Therapy Podcast, Wil and Ryan discuss how all problems are not the end of the world for founders. While running a startup can be challenging and bring various obstacles, not every problem leads to failure or signifies the end. Startup founders often encounter a range of difficulties, including financial setbacks, operational hurdles, or competition. However, with resilience, adaptability, and problem-solving skills, founders can navigate these challenges, learn from them, and continue to grow their businesses. It's important for founders to maintain a positive mindset, seek support from mentors and networks, and view problems as opportunities for growth and improvement.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:38 Not all problems are apocalyptic03:12 Startup problem vs. True “end of the world” problem11:33 Externalizing the problem normalizes it12:34 Why categorize your problems by levels?15:53 Don’t overprioritize one problem and ignore the others16:53 Stop making everything a level 1020:40 You will never run out of problems27:30 Time will come problems won’t even faze youMon, 17 Jul 2023 - 220 - Stop Listening to Investors
In today's Startup Therapy Podcast, Wil and Ryan discuss why you should stop listening to investors. While investors can provide valuable insights and expertise, founders should exercise caution when relying too heavily on their advice. Investors often prioritize financial returns and short-term gains, whereas founders have a deep understanding of their vision and long-term goals. Over-reliance on investor advice may compromise the original vision and unique value proposition of the business, hindering its potential for growth and innovation. Founders should carefully evaluate and consider investor advice while staying true to their own vision and strategic direction.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:19 Investors are not fortune tellers06:42 They just speculate everything08:11 What one investor says doesn’t represent all the investors09:13 Investing in a certain industry doesn’t make them an expert10:31 Match their advice with their experience12:45 If you want advice, go to experts15:35 A well-intended advice can still derail you16:27 Even if it’s a strong opinion, it doesn’t mean it’s right21:20 Get a lot of feedback but consider the source23:04 Checkbooks = writing checks, not giving advice24:22 Investors can give bad assumptions, so don’t treat them like gospel28:33 A positive feedback might actually mean “no”30:09 Nobody can turn the wheel other than youMon, 03 Jul 2023 - 219 - Can You Build a Startup in Less Than 40 Hours a Week?
In today's Startup Therapy Podcast, Wil and Ryan discuss if you can actually build a startup in less than 40 hours a week. Building a successful startup typically requires a significant investment of time and effort. While it's theoretically possible to work on a startup for less than 40 hours a week, it may significantly impact the chances of success. Building a startup is not just one job; it involves planning, research, product development, marketing, and networking. By committing more hours initially, founders can accelerate the growth and development of their startup, potentially leading to a point where they can work fewer hours in the future. Ultimately, the time invested in the early stages can significantly influence the trajectory and potential success of a startup.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:16 Time is the only resource you got05:05 It’s now survival mode06:21 Why would you start this if you don’t want to put yourself in completely?08:15 Focus all your energy on one thing09:25 In a startup, 40 hours is not enough10:27 You can work less in the future if you work more now13:43 Time commitment to the business15:52 When things need to get done, they need to be done18:43 It depends on how many people will get affected20:03 It just needs to take time in the beginning25:07 For startups, everything is variable27:22 Experience is not a formula for successMon, 26 Jun 2023 - 218 - Are Bootstrapped Startups Less Valuable Than Venture-Funded Startups?
In today's Startup Therapy Podcast, Wil and Ryan discuss whether bootstrapped startups are less valuable than venture-funded startups. The value of a startup isn't only determined by its funding source. While venture-funded startups may have more money and support initially, bootstrapped startups can still be valuable and successful. Bootstrapping often leads to efficient operations, as founders have to focus on making money and becoming profitable without relying on outside investments. In the end, the value of a startup depends on things like its potential in the market, how much it's growing, how well its product fits the market, and the skills of its team, regardless of how it's funded.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:44 What do founders feel when they are not funded?03:47 There are only a few companies that get venture funded06:44 If you don’t raise VC, who cares?08:52 What happens after you get the funding?13:32 Getting funded = smaller options17:39 Who are you creating value for?22:32 Bootstrapping is okay 25:53 The optionality of bootstrapping27:34 Creativity and resourcefulness from bootstrapping28:49 Don’t let your startup be valuable to someone other than you29:54 Bootstrapping a business that won’t generate profit right away35:08 Patience is an incredible assetMon, 19 Jun 2023 - 217 - Why Founders Don't Ask For Help
In today's Startup Therapy Podcast, Wil and Ryan discuss why founders don’t like to ask for help. Founders sometimes hold back from asking for help because they worry about losing control, looking weak, burdening others, or feeling like they have to do everything themselves. However, it's actually really important for founders to push past these concerns and ask for help. Getting guidance and support from experienced folks can give them awesome insights, expertise, and connections that can speed up their growth and success. It lets founders tap into different perspectives, learn from other people's experiences, and access resources that can help them tackle challenges and make smarter choices.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro03:58 You could learn something if you just ask for help06:32 Why founders find it hard to ask for help08:57 When there’s literally no one else but you10:32 Unique problem vs. a problem other founders experienced already15:15 How do you know it’s good advice?20:31 Asking for help is not a weakness22:40 Difference between getting advice and experience feedback24:43 When you’re “too busy” to ask for help29:10 The advice should be timely30:23 Ask someone who knows the topic for a long timeMon, 12 Jun 2023 - 216 - Can I Design My Startup Around My Life?
In today's Startup Therapy Podcast, Wil and Ryan discuss if founders can design their startups around their life. Should your life adjust to your startup or could you design your startup to fit your lifestyle? It's all about making intentional choices and taking small steps to align your business with your desired lifestyle. By carefully planning, testing things out, and being open to adjustments, you can create a startup that fits seamlessly into your personal life instead of consuming it. It's all about finding that sweet spot where work and life complement each other.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:26 Beyond binary thinking02:08 What was your lifestyle 10 years ago?05:46 Baby steps to improve your life07:09 Starting a work-from-home setup09:30 Remote work and personal health11:22 The challenges and rewards of incremental changes in work and life15:20 Stop seeking certainty17:09 Make this your corporate goal and externalize it22:20 Share your personal goals with your team26:38 Take one step toward your goals30:26 As founders, you can do anythingMon, 05 Jun 2023 - 215 - Founders, Time is Your Greatest Asset
In today's Startup Therapy Podcast, Wil and Ryan discuss how founders can stay in the game longer. Most founders want the result faster without thinking about longevity and sustainability. In the fast-paced world of startups, thinking long-term is a total game-changer. It's like stepping back and getting the big picture, setting up a rock-solid foundation, and planning for sustainable growth. When founders shift their focus from quick wins to the long haul, they become masters at spotting obstacles, riding market waves, and making smart choices that match their ultimate vision. Thinking long-term not only toughens you up, but it also attracts investors and partners who are in it for the long run, boosting your chances of scoring lasting success in the crazy world of startups.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:09 Creating a startup that will last in the long run04:06 Focusing on longevity06:11 Make a bet10:40 Hiring as a bad bet14:32 Put survivability first16:17 It’s like the same playbook19:13 Try to make it past year 320:51 Think about longtermMon, 29 May 2023 - 214 - The Toll on Everyone Around a Founder
In today's Startup Therapy Podcast, Wil and Ryan discuss the toll on everyone around a founder. This topic is close to every founder's heart: the ripple effect their journey has on everyone around them. Let’s deep dive into the nitty-gritty of how being a founder impacts family, friends, and relationships. Being a founder can take a toll on everyone around you in different ways. Your family might feel the strain of your demanding schedule and the ups and downs of the startup rollercoaster. Friends might sense a disconnect as your focus shifts. It's all about finding that delicate balance and keeping the lines of communication open, so you can navigate the challenges together and maintain those important relationships along the way.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:00 The toll on everyone around you04:47 Why founders can’t empathize with the people around them?06:42 Marriage 09:21 “This is not our spouse’s dream…”14:26 Asking about the best thing that’s happened to each other’s day17:46 What happens to the kids?26:20 There’s no interest earned on happiness deferred27:45 Friendships30:05 The bank of friendship33:24 Balancing success and relationships37:19 It has a compounding effectMon, 22 May 2023 - 213 - Big Starts Breed False Victories
In today's Startup Therapy Podcast, Wil and Ryan discuss the problem with early praise and big hypes at the beginning of a startup, with no assurance of success. We've all seen the flashy headlines and big promises of new startups, but does the hype actually translate to success? Join us as we dive into why early praise can be a double-edged sword for any budding entrepreneur.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:57 Can the startup live up to the hype?02:10 Getting scared of competitors because of the hype they’re getting05:38 The start is not the finish07:19 The hype cycle in tech industry10:43 False positives in the funding round14:09 Marketing and hiring hype14:48 Sometimes the companies with no big announcements become successful19:30 The hype of crypto and blockchain22:23 Transformative is not equal to success25:12 It takes a long time to make big changes27:24 The problem with early praiseMon, 15 May 2023 - 212 - Once a Founder, Always a Founder
In today's Startup Therapy Podcast, Wil and Ryan discuss how being a founder is an integral part of your identity, and setbacks with one startup shouldn't make you doubt your ability to succeed in the role. So even if your current venture doesn't work out, you're likely to keep pursuing new startup opportunities because it's simply part of who you are. After all, being a founder isn't just a job – it's a deeply ingrained part of your DNA.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:24 You’re still a founder even if your startups end03:11 Success is not a determining factor05:59 Being a founder is not a job title08:08 Founder DNA12:06 What if and why not?13:36 The founder mentality as employees18:28 This feeling of failing won’t last forever20:16 You will always be a founderMon, 08 May 2023 - 211 - The Invention of the 20-Something-Year-Old Founder
In today's Startup Therapy Podcast, Wil and Ryan explore the history behind the invention of the 20-something-year-old founder phenomenon. With the changing landscape of technology and business, more and more young people are starting successful companies. The episode discusses the opportunities available to young people today, and how starting a business has evolved over the years.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:09 Being a young founder09:23 An opportunity for young people10:55 How to start a business before vs. now20:02 There was no other people to talk to25:59 When the youth started to take over31:42 You can stand on the shoulders of giants35:12 What else can a 20-something-year-old do?Mon, 01 May 2023 - 210 - When is Founder Ego Too Much?
In today’s Startup Therapy Podcast, Wil and Ryan discuss the founder's ego and when is it too much. We all know that confidence is key when you're starting a business, but sometimes it can be hard to tell when that confidence has turned into full-on arrogance. This can hold you back from trying new things and making the best decisions for your company. So how do you avoid this trap?
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:39 Confidence vs. Arrogance05:30 Question everything you think you know06:31 Be comfortable with being wrong10:32 It’s preventing you from trying new things13:34 The “Everything is wrong except for me” mindset15:35 When ego clouds your decision17:06 Make every problem your fault19:50 The blame game23:34 Not accepting defeat25:39 How to manage your ego27:14 Ego is a massive liability29:19 Permission to be wrong30:23 Choose the people who will surround you33:40 Psychological safety36:27 Challenge your ego to growMon, 24 Apr 2023 - 209 - Founder Imposter Syndrome Never Goes Away
In today’s Startup Therapy Podcast, Wil and Ryan discuss founder imposter syndrome. As a startup founder, it's common to feel like you don't have all the answers, especially in the early days. But even after years of experience, do you still struggle with feeling like a fraud or pretending to know more than you do? Imposter syndrome can be tough, whether you're a seasoned startup pro or just starting out. But with the right mindset and tools, you can learn to recognize and overcome those nagging self-doubts.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro00:33 When does imposter syndrome go away?03:03 Moments where you don’t know what you’re doing09:31 Jumping into variables15:09 ‘Fake it till you make it’ mindset17:21 The more you know, the more you don’t know20:50 Dangers of comparison25:27 Know what you need to know26:26 Be around long enough30:46 Nobody really masters it allMon, 17 Apr 2023 - 208 - How Long is a Founder Lifetime?
In today’s Startup Therapy Podcast, Wil and Ryan discuss how long is a founder's lifetime. In a startup cycle as well as the founder’s lifetime, a lot of things could happen. You will get to try different things and experience different highlights in your career. Having more chances to try something different can be a great advantage for founders in their career journey. With each new venture and experience, founders gain valuable skills and knowledge that can help them succeed in their future endeavors. Additionally, trying new things can also lead to personal growth and self-discovery, which is important for maintaining a healthy work-life balance.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:24 Startup Lifecycle03:19 A lot of things can happen04:54 Distinctive lifetime07:36 You have many more games to play10:59 This might not be the highlight of your career yet13:30 You have more chances to try something different15:39 The next chapter can be a new chapter17:32 Just say yes to everythingWed, 12 Apr 2023 - 207 - Always Take Money Off The Table
In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders often miss out on paying themselves and why it's essential to grab the chance when it happens. You know how some founders think, "I don't deserve this yet" or "I should put this money back into the business"? Rather than risking a missed chance, it's best to take advantage of the opportunity while it's available. You might not get this chance again, o seize the moment and take that money off the table now.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:27 The “I don’t deserve this yet” mindset05:18 Slowly taking chips off the table08:51 Think of it as your money 15:01 Take that shot right now17:33 Belief in exponentially as a certainty22:56 The probability of that greater future is low26:18 You’re digging a hole for yourself28:03 Take it and just give it back29:08 How to think of losing when you’re in the process of winning33:46 The opportunity might never happen again, so just grab itMon, 03 Apr 2023 - 206 - Should I Feel Guilty For Failing?
In today’s Startup Therapy Podcast, Wil and Ryan discuss founder guilt in the wake of a failed startup. While it's perfectly natural to feel disappointed when a startup fails, it's not cool to let guilt eat away at you. It's important to recognize that success in the startup world is never a guarantee and that failures are an inevitable part of the process. The key is to bounce back from setbacks and keep pushing forward, no matter how tough things get.
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:22 The people you feel guilty to04:50 Disappointment vs. guilt06:52 Guilt brings out liability08:07 Failures in startups 10:04 Why do we sentence ourselves to an imaginary prison of guilt13:21 Learn how to handle failure15:23 You have to keep going17:19 Transfer the negative energy to a positive one21:37 Have a north star22:53 This is not your only chanceMon, 27 Mar 2023 - 205 - The Case Against Full Transparency
In today’s Startup Therapy Podcast, Wil and Ryan discuss transparency in startup companies. Being honest with your customers and clients will help you attract more people to your company, but excessive sharing of information and transparency could also create some problems. In today’s episode, we’ll find out: how much transparency is too much and do you really need to be transparent about everything?
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:22 We come from environments that lack transparency03:13 Every news is good news04:46 Why do we embrace transparency?05:59 When things fail, transparency suddenly doesn’t matter09:49 The difference between transparency and honesty16:15 Transparency is good when you’re certain of the outcome20:29 The consequences of transparency25:01 It’s the founder’s job to make it workMon, 20 Mar 2023 - 204 - Does My Startup Really Need Full Time Employees?
In today’s Startup Therapy Podcast, Wil and Ryan discuss whether your startup really needs full time employees. One of the common mistakes made by startup companies is that they hire a bunch of people full time for a job that can be done by one or they hire one person and make them do multiple things. In this episode, let’s really find out what is full time employment and how do you really make the most out of it?
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro03:08 History on paying full time and per hour04:55 Raising funds to pay for a team07:02 What is full time employment?09:20 Buying someone’s hours12:52 Hiring people you don’t need15:35 Full time contribution19:01 The high performing people22:30 Hiring one person for multiple jobs 26:53 Full time will be a thing of the pastMon, 13 Mar 2023 - 203 - This is Probably Your Last Success
In today’s Startup Therapy Podcast, Wil and Ryan discuss getting your first success and how you can treat it as if it’s your last. You’re there, you finally made it – so you think you can replicate that success? The probability of remaking that success is probably low and you can’t base your future success on something that you’ve done before, so what can you do to change this mindset?
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:43 What if this is your last success?05:16 Future success is not equal to past success07:05 Your mindset probably needs to change09:06 What would you tell your younger self?12:35 Mentality of older founders14:49 Bet of future success17:07 Compounding probabilities20:22 Stay in certainty23:31 How much would be a lot?26:35 Treat this as if it’s your lastMon, 06 Mar 2023 - 202 - How Many Times Can My Startup Die?
In today’s Startup Therapy Podcast, Wil and Ryan discuss about the deaths of your startup and how many times do you come back from the grave? Starting a business is actually just a series of recovering from deaths, and that’s okay – but when does it actually start getting better and when would be the time where you realize that you should stop?
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro01:31 It’s a series of recovering from deaths04:24 We assume it’s supposed to work05:27 Momentum to move forward06:23 The walking dead08:36 Hearing “no’s”13:16 You’ll never know if this is the end 15:15 Are you doing this because you’re afraid of failure?17:57 You have more downside than upside21:57 Success is not in short increments23:25 The world is in defense mode right now26:12 Try to not die 30:04 Signals for when to stay or leave32:24 How do you know if you actually died37:34 This is just how business works42:54 Is this a hurdle or a real wall?46:02 Running out of cash and having to lay off staff50:00 Everything is impossible until somebody does itMon, 20 Feb 2023 - 201 - How Should I Share My Wealth with Family?
In today’s Startup Therapy Podcast, Wil and Ryan discuss how you should share your wealth with family members? Are you the type of person who’s always one call away to your family or friends whenever they need money? They always say it’s going to be a “loan” but have they already paid you back? FInd out in today’s episode how you can actually build a financial relationship with your family!
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Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For
00:00 Intro02:50 We want to share our success06:40 You don’t owe anyone anything09:46 It never ends16:12 People can get manipulative when they need something18:15 Suddenly you’re an A-hole20:40 It’s never a loan30:00 “I don’t want to have a financial relationship with you…”33:18 It’s a personal decisionMon, 13 Feb 2023 - 200 - Why Do VC Funded Startups Love "Fake Growth?"
In today’s Startup Therapy Podcast, Wil and Ryan discuss why some founders tend to go on the “fake growth” route. Some Startup companies may look like they are soaring and scaling real fast but in reality, these Startups are spending more than they are getting back from revenue. So how can you identify if you, as a founder, are going the real growth route or the fake growth route?
Mon, 06 Feb 2023 - 199 - Founder Legends Are Less Fun When You Are Living Them
In today’s Startup Therapy Podcast, Wil and Ryan discuss the myths behind founder’s success stories. Whenever we hear a story of somebody else’s win most likely we find it inspiring, right? And after hearing this zero to hero story we then decide that we want to be like them someday. But are you sure about that? And are you really willing to go through the pain that they had to live through just to be where they are now?
Mon, 30 Jan 2023 - 198 - Can Middle Schoolers be Founders?
In today’s Startup Therapy Podcast, Wil and Ryan discuss the importance of teaching entrepreneurship to middle school students. There are tons of benefits when you teach young children about entrepreneurship. Kids are naturally curious and creative, and you can nurture these skills through entrepreneurship. Not only do you raise children with better critical thinking skills, but you’ll also raise problem solvers.
Mon, 23 Jan 2023 - 197 - Founders, At What Point Have We Sacrificed Too Much?
In today’s Startup Therapy Podcast, Wil and Ryan discuss how much sacrifice as a founder is too much? How much are you willing to give up in your life just to become a successful founder? You might think now that the return on investment of all the time you spent working instead of doing the things you will never get back will be worth it in the long run but think again – are you willing to pay that price?
Mon, 16 Jan 2023 - 196 - Founders, How to Tell the Board "I Need a New Deal"
In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders can talk with the board about their compensation. If you’re a founder and your company is earning a lot of money but you can’t even touch the profit – then maybe it’s time to have that conversation with the board. But how can you even do this without being turned down?
Mon, 09 Jan 2023 - 195 - Founders, Failure is Just One Chapter in Life
In today’s Startup Therapy Podcast, Wil and Ryan discuss why founders should stop thinking that failure is forever. Sometimes, when we experience hard times in our lives, we feel like this will never get better again – but that’s not true. Your whole life is a book with different chapters and each has its own challenges and you will get over them. Once you finish a bad chapter, just quickly get started on to the next one, because remember, failure is just one chapter in your life.
Mon, 12 Dec 2022 - 194 - What If I Want To Work Forever?
In today’s Startup Therapy Podcast, Wil and Ryan discuss what it would be like if you want to work forever. For founders, a lot of us might wonder if this would be something you’d like to do for a long time. But here’s a thought – is your Startup a work you love doing or does it feel like a work that you feel forced to do every day? If your answer to the last question is yes, then you might have to rethink if you’re willing to do it forever or find something that you would want to do for the rest of your life.
Mon, 05 Dec 2022 - 193 - Should Founders Worry About Quiet Quitting?
In today’s Startup Therapy Podcast, Wil and Ryan discuss if founders should worry about quiet quitting. This may sound like a new term to a lot of founders BUT this has been around for many ages now and we should be alarmed about it. So how can you see if your team is actually checked in or out of work?
Mon, 28 Nov 2022 - 192 - If a Startup Sinks, Founders Go Down With It
In today’s Startup Therapy Podcast, Wil and Ryan discuss what will happen to the founder when the Startup company goes down. When a company starts to wind down, you might be shocked how everything maps back to the founder, from office leases to subscriptions, and now all of a sudden these company liabilities become your personal liabilities. How can you avoid this from happening to you?
Mon, 21 Nov 2022 - 191 - The Downfall of Becoming Internally Focused as Founders
In today’s Startup Therapy Podcast, Wil and Ryan discuss when a founder’s focus starts to shift from managing externally to managing internally. When a company grows, there’s a huge possibility that as a founder your focus might change from managing customers and shipping products to hiring staff and doing reports – which could lead to a stall in your skills and growth as a founder. So as you motivate your people, keep motivating yourself as well!
Mon, 14 Nov 2022 - 190 - Founders, we earn our wins. This isn't the Powerball.
In today’s Startup Therapy Podcast, Wil and Ryan discuss if founders deserved their wins and successes or did they just get lucky? Sometimes, founders feel guilty of their own success to the point that they don’t want to reward themselves and enjoy their hard-earned money. Most of the time, these founders hear people say “You’re just lucky!” disregarding the years and years of their hard work. But always remember that for you every win you earned and deserved your wins.
Mon, 07 Nov 2022 - 189 - All Founders are Beloved In Good Times
In today’s Startup Therapy Podcast, Wil and Ryan discuss what happens to founders during the tough times. When things are going well, when you just got funded, and when you’re finally getting that high revenue, everybody loves you. But when things go south, no one is around. Sure, you feel emotionally betrayed at this point because you trusted them right? But is there a way you can avoid this in the beginning?
Mon, 31 Oct 2022 - 188 - Our Startup Culture of Entitlement
In today’s Startup Therapy Podcast, Wil and Ryan discuss what founders are entitled to when their business takes off. There is danger in expecting too much from our Startup, when we think we should get additional funding because the business is growing, when we think that business growth will merit us more opportunities. Reality check: things don't work this way. Things take time to grow and every growth is exponentially different.
Mon, 24 Oct 2022 - 187 - The Bulls#!t Case for Raising Capital
In today’s Startup Therapy Podcast, Wil and Ryan discuss whether you need to raise a huge capital in order to have a successful Startup. How much money do you actually need to scale your business? Do you need to raise money quickly in order to scale up quickly? The thing is, having lots of capital does not mean success right away. There are some cases where Startups raised a lot of money in the beginning but ended up getting bankrupt. You see, it’s not all about having a lot of financial resources. You gotta have skills, connection, and the right amount of luck too!
Mon, 17 Oct 2022 - 186 - Founders, We Only Have To Be Right Once
In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders sometimes think that they’ve reached that billion dollar moment in their Startup and then end up being disappointed by the result. Now, the billion dollar question is - how many shots do we actually have? The thing is, we really won’t know when that moment happens so we just have to keep going and continue trying, gathering information as we move forward, because if we can only be right once, at least we are fully equipped once we get to that point.
Mon, 10 Oct 2022 - 185 - Why Every Kid Should Be a Startup Founder
In today’s Startup Therapy Podcast, Wil and Ryan discuss why it’s important to teach kids about entrepreneurship. You know what they say - better to start them young. Teaching about how to become a founder to kids as young as 10 years old will be an eye-opening experience. At this age, kids still have that pure mindset where they think they can do anything, and it’s important to nurture that. Planting the seed early on will bear fruit that will also be able to teach the future generations.
Mon, 03 Oct 2022 - 184 - How Big of a Failure Can I Survive as a Founder?
In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders can survive a failed Startup. For some founders, when they experience failure, they immediately think that it’s the end, that it’s a complete failure. But one thing's for sure though – we will all get over it. Failure has always been a part of the process and it will teach us valuable lessons along the way. And it also gives us the most important ammunition: a chance to start again.
Mon, 26 Sep 2022 - 183 - Why Are All My Founder Friends Ahead of Me?
In today’s Startup Therapy Podcast, Wil and Ryan discuss the problem of comparing yourself with other founders. Sometimes, we look at the success of others and immediately think we’re falling behind. We always compare ourselves to others without even realizing that we all had a different head start and were influenced by varied outside factors. Remember, success is a process, and we go through it in different phases.
Mon, 19 Sep 2022 - 182 - Are Startup CEOs Really CEOs?
In today’s Startup Therapy Podcast, Wil and Ryan discuss if startup CEOs can really be considered as CEOs. The CEO title bears a lot of responsibility – it’s a nice title to have alongside your name but the question is, are you qualified to have it? It’s easy to get the title, in fact, anyone can become one but do you have the right qualifications and enough experience to be called a CEO?
Mon, 12 Sep 2022 - 181 - Founders, We Have SO Much Time Left In Our Careers
In today’s Startup Therapy Podcast, Wil and Ryan discuss how founders should not feel like they are running out of time – because they’re not. Most young entrepreneurs feel that they should rush things just because others seem to be doing well in life already and they’re feeling left behind. Everyone has their own timeframes and maybe this year is just not your year, and that’s okay, because you still have a lot of time left in your career.
Mon, 05 Sep 2022 - 180 - Founders, Let's Live to Fight Another Day
In today’s Startup Therapy Podcast, Wil and Ryan discuss the importance for founders to identify problems early on and why they should do something about it. Survival is the strategy in Startups so founders should be aware of the early signs of problems so that they can find solutions to last longer in this game.
Mon, 29 Aug 2022 - 179 - Being a Founder Made Me a Better Parent, and Vice Versa.
In today’s Startup Therapy Podcast, Wil and Ryan discuss how being a parent made them better founders, and vice versa. There are things that we won’t understand until we experience them ourselves, and in a Startup, there are similar things that we can compare when it comes to leading and being a parent. Once you start teaching your kids good values you can apply those to your company, because as they say, “being a founder is like being a parent, you always stay involved.”
Mon, 22 Aug 2022 - 178 - We Need To Build A Culture of “I’m Wrong”
In today’s Startup Therapy Podcast, Wil and Ryan discuss one of the most common problems with new businesses - they are afraid to do the wrong thing. In Startup you can’t always be right and have a smooth sailing path in the beginning, you will always have to be wrong and do the wrong things first before knowing what is right. Normalizing a culture of admitting and allowing mistakes will help companies know how they can perform better in the future.
Mon, 15 Aug 2022 - 177 - Where There's Smoke - There's Fire
In today’s Startup Therapy Podcast, Wil and Ryan discuss why managers and founders need to pay more attention to small details. Sometimes companies have employees who suddenly start performing poorly. What could be the reason? Whenever there are small problems, there must be a root cause of why it’s happening, so it’s up to the founders to identify what’s causing it.
Mon, 08 Aug 2022 - 176 - What Would I Tell My Former Founder Self?
In today’s Startup Therapy Podcast, Wil and Ryan discuss some of the advice that they would tell their younger founder selves. If you could go back in time, what would you tell your past self? Now that you’re wiser and more experienced, there are many things that you wished you would’ve done differently, but those mistakes and lessons that you had along the way is what also made you become the person you are today.
Mon, 01 Aug 2022 - 175 - We Need a Culture of Accountability
In today’s Startup Therapy Podcast, Wil and Ryan discuss the importance of accountability in a company. A founder should be able to know how to instill accountability in their employees. The two main components to get accountability are ownership and consequences - having these things can make a huge difference in a company’s overall success.
Mon, 18 Jul 2022 - 174 - Am I a Good Manager?
In today’s Startup Therapy Podcast, Wil and Ryan discuss what makes a good manager. What does it take to become a good manager? Is it a manager that consistently hits the targets and can keep up with the demands of the business? It is someone who showcases good leadership skills and the right mindset? The truth is, one becomes a good manager when they can push the entire team to transform themselves and become exponentially better at what they do.
Mon, 11 Jul 2022 - 173 - Sacrificing our Health for our Startup is NOT OK
In today’s Startup Therapy Podcast, Wil and Ryan discuss why health is an important asset for founders. Sacrifices are often necessary for every business - less time with family, skipping meals, not taking breaks, constantly working overtime and not getting paid enough, etc. In the early stage of the business, these types of sacrifices are ‘deemed’ essential and expected. Years later, stress and anxiety will eat you up and you’ll probably be dealing with a failing body. Yes, sacrifices are necessary but not in exchange for your health.
Mon, 27 Jun 2022 - 172 - What if Our Startup Founder Anxiety Never Quits
In today’s Startup Therapy Podcast, Wil and Ryan talk about the never ending anxiety we all have. One of the things that makes every founder feel on the edge most of the time is getting anxious over everything, this sense of urgency to get one thing done after another right away. What we don’t realize is instead of rushing through things, sometimes it can be beneficial to our mental health if we just let things take its course. And if we shift our focus on solving the problem and not get anxious about it.
Mon, 20 Jun 2022 - 171 - This is Fun and All, But When Do I Get Rich??
In today’s Startup Therapy Podcast, Wil and Ryan talk about when founders actually get paid? In the Startups community, many founders expect immediate returns and instant success. This is because a lot of founders have shown potential and managed to grow their business exponentially in such a short period of time. New founders expect the same outcome to happen to them. The truth is, outside of the community, it takes several years, decades even, to reach significant growth in returns. Not everyone can get rich overnight.
Mon, 13 Jun 2022 - 170 - We're All Afraid of Paper Demons
In today’s Startup Therapy Podcast, Wil and Ryan talk about overthinking. When you start to focus your attention on something that has not happened yet and it starts to affect your performance, decision-making, and growth, you end up getting anxious. And this growing anxiety will hinder what you are truly capable of achieving. So, stop worrying about the things that didn’t happen and start planning based on what’s happening now.
Mon, 06 Jun 2022 - 169 - Letting People Go: Ego and Safety
In today’s Startup Therapy Podcast, Wil and Ryan talk about people losing their jobs. We’ve been talking about it and now it’s happening. People are losing their jobs fast and they are left with little to no option in these trying times. As a founder, what can you do to help? Are you supposed to do something somehow? People are losing their safety of a steady stream of income and the last thing they want to bring with them when they leave is uncertainty and heavy competition. If you still have the means, make it so that the transition is made easier for them.
Mon, 30 May 2022 - 168 - What a Market Downturn Means for Startups
In today’s Startup Therapy Podcast, Wil and Ryan talk about putting a freeze on your resources when returns take a downturn. When is it necessary to let go of some employees? When is it an urgent matter to get more funding? Can you possibly get more funding when the Startup isn’t hitting the target? Well, you can definitely weather the storm when you understand that a downturn is tough but it’s a good phase to start cleaning up unnecessary ties and expenditures.
Mon, 23 May 2022 - 167 - As a Founder, Should I Focus on Profit or Growth?
In today’s Startup Therapy Podcast, Wil and Ryan talk about where founders should put their focus on. Growth or profit? Can you focus on both? The true measure of a founding team is the success of every bet made and the ability to bounce back from the negative consequences of these bets. You can focus on returns and not see much growth or grow exponentially and invest in hiring more people. Either way, it’s always about achieving your ultimate goal.
Mon, 16 May 2022 - 166 - Funding is a One Way Street
In today’s Startup Therapy Podcast, Wil and Ryan talk about the cost of raising a capital. Yes, additional funding is a good sign of progress, it’s a sign that the company has potential to grow because people invested money in it. Yes, it is a milestone most founders want to achieve. The downside, however, is that you are no longer alone when making decisions. You are no longer the owner. You become another ‘employee’.
Mon, 09 May 2022 - 165 - My Startup Stalled - Now What?
In today’s Startup Therapy Podcast, Wil and Ryan talk about what it’s like for a Startup to stall. We are all so used to the idea that we need to keep creating a momentum for our business to reach goals, to hit target numbers, and possibly please our investors. Yet, many, if not all, Startups stall, growth slows down and revenue is almost non-existent. It’s normal and you gotta learn how to navigate out of these phases to achieve sustainable growth.
Mon, 02 May 2022 - 164 - What if We Fired Everyone and Started Over?
In today’s Startup Therapy Podcast, Wil and Ryan talk about the possibility of firing your employees for a restart? Let’s put it this way. The people in your team when you started may not be the right people now that your business is growing. The skills that they currently have may no longer fit the roles you need to continuously push your team forward. Everything changes, all things evolve, skills must upgrade. What about your people?
Mon, 25 Apr 2022 - 163 - This Could be our Last Shot
In today’s Startup Therapy Podcast, Wil and Ryan talk about being at the peak of our opportunity. In our early years, when we fail to succeed in growing our Startup, it’s okay. We can take a breather, regroup, and then start again. When we’re already in our mid 40’s and 50’s (or older), screwing up comes at a high price. A restart may no longer be possible. On a positive note though, with age, we get to stack up on experience, knowledge, and skills needed for business success.
Mon, 18 Apr 2022 - 162 - Will Investors Let Me Take Money Off The Table?
In today’s Startup Therapy Podcast, Wil and Ryan talk about the likelihood of founders taking money off the table. Is it possible? Could be if the company has the potential of exponential growth in a short period of time. Is it doable? Most definitely if the means the company has the resources and manpower to get things done fast. But the possibility of being able to take money off the table is close to zero for most founders. You have to show proof that you can perform and you’re staying for the long run!
Mon, 11 Apr 2022 - 161 - Being Leveraged Means Having Zero Choices
In today’s Startup Therapy Podcast, Wil and Ryan talk about being leveraged and how it affects Startup growth. Early on, founders tend to believe that choosing an investor is an option. Yes, this is possible for people in the top 5 percent or those that haven been in this route more than once. But if you belong in the other 95%, which most of us are, we don’t get to choose. We get lucky when someone takes interest in investing in our Startup. So wise up and ‘choose’ well!
Mon, 04 Apr 2022 - 160 - I Failed. What Will People Think of Me?
In today’s Startup Therapy Podcast, Wil and Ryan talk about not thinking too much about what other people think. Our emotions are always valid especially when our ideas aren’t appealing enough or when our Startup fails to gain any momentum. We always worry about what other people might think of us and how they will see our failure. But the truth is, no one will remember. No one will care. No one, but you. So, dust it off and start creating a new narrative!
Mon, 21 Mar 2022 - 159 - Don't Be Afraid to Take Big Swings
In today’s Startup Therapy Podcast, Wil and Ryan talk about founders not taking risks. When you get stuck in one place, getting comfortable at where you are at right now and not taking swings because of the fear of missing a hit, then growth becomes a long shot. Successful Startups did not succeed because they fear failure. Success comes when the founder keeps taking swings and managing failure as they come because they’re focused on getting a hit!
Mon, 14 Mar 2022 - 158 - When Founders no Longer have Upside
In today’s Startup Therapy Podcast, Wil and Ryan talk about founders with no more upside left. Having new investors is good. Stacking up more funds to expand the company is good. Although it can turn dreadful real quick when as a founder you are left with no more room to grow. You get stuck in one spot, doing the same rigorous task day by day without any promising gains at all. Wouldn’t it be better if you get enough funding and still have more control over the decision making and better incentives?
Mon, 07 Mar 2022 - 157 - The Lies We Tell Ourselves About Retirement as Founders
In today’s Startup Therapy Podcast, Wil and Ryan talk about the real definition of retirement. Is it going on a vacation one after another in your 60s? Is it pursuing your love for woodwork and making a living out of it? Or perhaps starting another business using your retirement funds? Whatever it may be, what matters the most is you get to do what you love doing but this time with less stress, less pressure, and time isn’t measured.
Mon, 28 Feb 2022 - 156 - The Problem with Local Advice
In today’s Startup Therapy Podcast, Wil and Ryan talk about finding the right advisor. It’s natural for anyone to seek advice from people who we think know more than we do but it doesn’t necessarily mean that what they know is beneficial for founders. Well-meaning people will readily share their knowledge and expertise, and we can all learn from it. Sometimes, it isn’t enough to resolve the issues at hand. Don’t limit your Startup’s potential within your local circle.
Mon, 21 Feb 2022 - 155 - Why Do I Feel Like Time is Running Out?
In today’s Startup Therapy Podcast, Wil and Ryan talk about the real value of urgency. Yes, getting things done right away is good. Managing your time well and completing your tasks ahead of time and knowing the strategies to keep up with competition will help stir the business in the right direction are definitely commendable practices. But, when all of your efforts are countering your real goals and are only causing you anxiety and stress, maybe you should reconsider which priorities are urgent and which ones are pretending to be.
Mon, 14 Feb 2022 - 154 - The Value of Many Tiny Financial Wins
In today’s Startup Therapy Podcast, Wil and Ryan talk about aiming for multiple tiny financial successes. This mentality that all your daily sacrifices, struggles, and losses will eventually lead to getting rich, sometimes, is a wishful thinking. Why not work on achieving small but steady financial wins, instead of staying broke for years in the hopes of getting rich all at once?
Mon, 07 Feb 2022 - 153 - We ALL Fake It Until We Make It
In today’s Startup Therapy Podcast, Wil and Ryan talk about faking success. What? Is that even possible? NO, you can’t fake real success. But, YES, in the early stages of your Startup you can run it in a way wherein your success mindset is bent on believing you can make it until you’re finally there - succeeding and thriving.
Mon, 31 Jan 2022 - 152 - Founder Consequences
In today’s Startup Therapy Podcast, Wil and Ryan talk about consequences. When you started, your words didn’t weigh as much as they do now. Back then, your reach was just a few people. Now that you’ve become a founder, every single word, phrase, and statement you utter has consequences. When you speak, make sure you’re ready for the pros and cons, and eventually, how it will affect your Startup.
Mon, 24 Jan 2022
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