Founder's Journey Unplugged

The most important factor in building a successful business is the team, and it all starts with the founders. In this episode, we talk about how we have formed our team of founders and what we have learned of this journey. 

Identifying your business idea to build your company upon is a massive challenge. In this episode, we will elaborate on our process of discovery and validation of several ideas and how we ended up with one of them. 

We are a product led company, this means we validate ideas and critical assumptions with experiments and research. In this episode, we explain how we have tested, validated and researched our ideal customer profile (ICP). 

In this episode, we share our experience with using  𝐋𝐞𝐭𝐭𝐞𝐫𝐬 𝐨𝐟 𝐈𝐧𝐭𝐞𝐧𝐭 (𝐋𝐎𝐈𝐬) 💌  in our own startup, Flinn Comply. Tune in to hear how we used this experimentation method to test the waters and gain confidence in our business idea before moving forward. 

In this episode, we share our learnings about raising our pre-seed funding round of 1.8m for our Startup  Flinn Comply. This episode focuses on the steps until you get one or many term sheets, while the next episode will go deep into detailed terms and the phase from term sheet to signature. Thus, we tackle the following questions in this episode:What is a pre-seed funding round?What do you need to raise such a round successfully? What valuation can I expect? What mistake should I try to avoid?When should I start reaching out to investors? What is important when choosing an investor? 

In the previous episode, we reflected on how we got from a pitch to a term sheet to raise our 1.8m pre-seed round for our Startup Flinn Comply. In this episode, we describe our learnings around signing a pre-seed venture capital funding round after receiving a term sheet. We talk about questions such as:What is a term sheet, and what should I pay attention to?What are essential terms I should know about and consider when negotiating my funding round?How do I structure my cap table?How can I ensure a smooth closing process from term-sheet to the actual capital increase?What mistakes should I avoid in consideration for future funding rounds?

For (early-stage) startups, it can be challenging to offer very attractive compensation when only looking at the salary. However, Employee Stock Option Programs (ESOP) can be a great opportunity to make your offers way more attractive and enable you to incentivize your employees like real entrepreneurs. Thus, in this episode we will discuss questions like: When should I set up an ESOP?How many percent of the companies' shares should we allocate to the ESOP?What are important legal terms to make it really attractive for your employees? What are essential legal terms not to discourage potential investors in future funding rounds?How do you present the ESOP to potential new hires in an offer conversation?

"A players hire A players, B players higher C players". We strongly believe in this saying and that our employees are the key to our success.  Next to our team of 3 co-founders, we have brought 5 founding team members on board within 3 months of closing our funding round.  In this episode, we discuss our experiences about building our early-stage team. We will address questions like: How can you attract talent being a no-name?How to manage the hiring funnel when there are no structures in place? What should you pay attention to when choosing among candidates? How to make attractive offers?If you want to support us growing an excellent team, take a look at our job-board and don't hesitate to connect you with people in your network. 

At Flinn, we strongly believe in empowering smart people, to act like entrepreneurs rather than employees. To scale such an approach, you need a strong foundation of values and principles. In this episode, we are how we are building a culture driven by values and principles from day one on. We will address questions like:What is the difference between values and principles?How did we come up with our values, and how do we involve the team to develop them further?How do we make them actionable in the day-to-day work?We invite you to take a look at our values, principles, & guidelines page to get some additional inspiration. 

This episode is about balancing the long-term vision of a company vs. the go-to-market focus (the first version of your product). Often overlooked, this balance is crucial for founders. Some emphasize their visionary goals, yet stumble in generating short-term traction. Others hyper-focus on early steps, losing sight of the broader picture. We will elaborate in this podcast on:Why this balance is critical and why it matters a lot.How do we, at Flinn Comply,  try to balance this trade-off when we pitch/sell our company (to investors, customers, potential employees) and when we develop our product. Join us for a candid conversation that sheds light on a challenge all founders face. Together, let's learn to thread the needle between visionary aspirations and tangible progress.

Setting clear, meaningful goals is among the most important priorities for founders. In this episode, we explore how we use Objectives and Key Results (OKRs)  Flinn Comply and what we have learned about OKRs over the past 8 years.What you'll learn: 1️⃣ OKRs' Importance: Align your vision and mission with your OKRs. 2️⃣ Simplicity and Iteration: Start simple with one OKR. Refine as you learn. 3️⃣ Transparency: OKRs foster employee involvement and clarity. 4️⃣ Setting Priorities: Prioritise your OKRs; not all will succeed. 5️⃣ OKRs' Ambition Level: OKRs should challenge and inspire. 6️⃣ Outcome vs. Output: Focus on meaningful results, not checklists. 7️⃣ Feedback: Track often. Involve teams. Adjust goals. 

 Advisors have been extremely helpful since the beginning of our journey.They’ve helped us with strategic aspects, valuable customer introductions, feedback on the product itself and understanding of the industry, … and we wouldn’t be where we are without the advisors we’ve had the chance to work with. Join us in this podcast episode where we explore how we got our advisors at Flinn Comply, what are the positive outcomes we’ve got, what types of advisors you can get to help your company grow. What you'll learn: 1️⃣ What is the difference between a business angel and an advisor 2️⃣ What kind of advisors do you need? 3️⃣ How many advisors should someone in an early stage should look for? 4️⃣ Advisory board vs. single advisory sessions 5️⃣ How regularly should you interact with advisors or board of advisors? 6️⃣ Compensation and legal set up 

 As a founder, you're often inundated with a myriad of urgent tasks, making it challenging to prioritize the truly critical ones. One highly effective approach to ease the load during the early stages is bringing on board an Entrepreneur in Residence (EIR). This dynamic individual can serve as your invaluable partner, working closely with you for a few months, and potentially evolving into a pivotal role within your company, growing alongside it. What you'll learn: 1️⃣ What is the difference between entrepreneur resident, founder associate, chief of staff, and founder resident? 2️⃣ When is the right time, and why would you hire this role 3️⃣ How we did this at Flinn.ai4️⃣ The responsibilities of these hires and what should stay with the founder. 5️⃣ How to find or recruit them 6️⃣ What should you look for when hiring this profile 

We strongly believe in having a well-structured software development approach early on. In this episode, our tech-co-founder Hasib has joined us, and we are sharing our software development best practices at Flinn.ai and learnings from our last 10 years in agile development. What you’ll learn: 1️⃣ Why to start introducing a well-structured agile methodology early on. 2️⃣ How to choose the right framework - Kanban vs. Scrum. 3️⃣ Adapting processes for remote teams. 4️⃣ How being flexible within agile methodologies. 5️⃣ Why you should separate product and technical planning. 6️⃣ How to use story points as a key communication tool. 7️⃣ How to make the most of your routines like planning, standup etc. 

 In this episode, we are looking back on 2023, a year of growth, challenges, and evolution at Flinn.ai, all through a deeply personal lens. What we share: 1️⃣ The main challenges of 2023 around fundraising, sales, product, and team building 2️⃣ Personal highlights and lowlights of the year, including our biggest surprises. 3️⃣Setting and achieving bold goals. How we outlined our objectives for 2023, how they changed over time, the strategies that helped us meet them. 4️⃣ Future goals: our plans for 2024 

In this episode, we explore the depths of usability research and testing, aiming to enhance your customers' experience with your product.We'll discuss pivotal questions such as:What are the various types of user research available?When is it most beneficial to conduct usability testing?What are the best practices for executing usability tests effectively?Which common mistakes should you steer clear of?How can you ensure the insights from usability testing are effectively applied? 

My co-founder Bastian has raised over 20 million in public funding in his career and with our early-stage statup we have raised 2 million a few months after starting our venture. In this episode, we share our learning about leveraging public funding.  We will address topics like: The complexities and different types of public funding How to think about using agencies to support youPractical tips on how to navigate the application process and the documentation after you receive a grantHow to avoid priority conflicts between your grant project and your actual roadmap