Startup Therapy

In this episode of the Startup Therapy podcast, hosts Ryan Rutan and Wil Schroter talk about the common misconception around 'working hard' within startups. They question the measurement of hard work, arguing that effort does not necessarily equate to progress or beneficial outcomes. The need for clear benchmarks within organizations to truly reward and recognize valuable contributions. Additionally, they challenge the notion of what constitutes as 'hard work' and the danger of equating all effort with success, proposing a more nuanced understanding that could lead to more effective and rewarding startup cultures.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/community/startup-therapyWebsitehttps://www.startups.com/beginLinkedIn https://www.linkedin.com/company/startups-co/Join our Network of Top Founders Wil Schroterhttps://www.linkedin.com/in/wilschroter/Ryan Rutanhttps://www.linkedin.com/in/ryan-rutan/What to Listen For00:17 The Misconception of Hard Work in Startup Culture02:49 Real Value of Hard Work in Startups04:29 The Effort vs. Progress Dilemma 06:40 Effort, Progress, and Reward10:22  Learning from Effort and Reward15:46 The Misconception of Effort vs. Outcome17:36 Setting Expectations Across Management Levels19:30 The Importance of Measurable Outcomes28:31 Setting the Right Expectations and Rewards

In this episode of the Startup Therapy Podcast, hosts Ryan Rutan and Wil Schroter discuss the evolution of startups from the emphasis on scaling and headcount to prioritizing efficiency and output, largely due to advancements in AI. The challenges of the past, such as massive payrolls, investor dependency, and expensive infrastructures highlighting the opportunities AI technologies present for startups. The conversation covers the changing landscape where small operations can achieve significant impact without the traditional costs, through examples like remote work, AI-driven efficiencies, and low-cost internet companies. They advocate for a shift in mindset where success isn't measured by headcount or office size, but by the value created with minimal resources. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/community/startup-therapyWebsitehttps://www.startups.com/beginLinkedIn https://www.linkedin.com/company/startups-co/Join our Network of Top Founders Wil Schroterhttps://www.linkedin.com/in/wilschroter/Ryan Rutanhttps://www.linkedin.com/in/ryan-rutan/What to Listen For00:00 The Evolution of Startups: From Headcount to Efficiency01:29 AI and the Future of Work: A New Paradigm05:14 The Unprecedented Scale and Speed of AI Adoption07:14 AI's Impact on Staffing and Efficiency09:39 The Ethical Debate: AI and Job Creation vs. Job Displacement13:17 AI's Role in Democratizing Entrepreneurship16:00 Historical Shifts in Startup Dynamics: From Match.com to AI18:41 The Evolution of Startup Funding19:33 The Dramatic Shift in Startup Economics20:42 The Rise of Bootstrapping and Ownership Retention21:24 Case Study: Plenty of Fish's Revolutionary Approach24:32 The Future of Startup Costs and Ownership31:55 Embracing Efficiency and Impact in Startups33:48 A New Era of Startup Valuation and Efficiency

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. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://groups.startups.com/Join our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan Rutan00:00 Welcome to Startup Therapy00:08 The Realities of Bootstrapping01:35 Navigating the Bootstrapping Journey04:50 Mastering the Art of Compensation in Bootstrapping22:00 Innovative Marketing on a Shoestring Budget26:50 Leveraging Vendor Terms and Historical Examples28:18 The Power of Deferred Payments in Business Growth33:20 Strategic Use of Credit Cards for Business Expenses42:20 The Path to Efficient Startup Growth

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://groups.startups.com/Join our Network of Top Founders Check in with us on LinkedIn | Wil Schroter | Ryan Rutan

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 milestones

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 ideas

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. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 = Cash

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 startups

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 focused

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? Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 basics

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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

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?Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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?

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 realities

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 chaos

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 hard

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 Staff

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?Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 workaholism

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 cycle

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?Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 idea

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources: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 For00:00 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 business