Startup Therapy

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. 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 That one hockey stick moment01:40 When it doesn’t change the way you expected it to happen03:36 How many shots do you have?07:56 Every shot comes with information09:42 You’ll never see that moment coming12:36 Just stay and keep trying14:32 You have a decade17:39 What if you're only right once?22:16 It doesn’t have to be a mega hit

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.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 Intro00:29 What if we teach kids to be founders?02:20 10 year olds are like a relatively complete processor04:17 Kids have a business idea05:36 They don’t know they can’t do it yet07:59 Explore your interests11:51 There’s a hundred different path16:29 Opening the pandora’s box of entrepreneurship18:28 We have one shot in life21:05 Agency and ownership24:04 Early experience is important26:23 Planting the seed on the next generation

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. 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 Intro00:28 What happens to the founder after a startup fails?03:00 No one cares your startup failed05:05 Everyone is going through the same thing06:06 And then what?09:53 You won’t even remember it13:22 You can just try again14:56 Losses are momentary16:59 Your failures can be anecdotes to teach people18:17 You get a clean slate21:39 This is not your only chance23:09 You’re not starting from zero

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. 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 Intro00:20 How to level up02:51 Stop comparing yourself with other founders05:43 The milestones doesn’t end08:24 We all grow differently11:20 It might look similar – but it’s totally different12:47 Sometimes the right decision is not the right direction14:31 Comparison kills progress17:30 Even the most successful people still fails21:04 Stay around for a long time23:41 You’re only entitled to your own outcome25:06 All accomplishments are fleeting28:16 The benchmark paradigm shift30:33 Focusing on the money33:58 Comparing your startup with another startup with the same services

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?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 Intro02:16 Just because you have the title, it doesn’t mean you’re qualified06:12 CEOs need to manage people09:01 CEOs have experience13:27 Start-up CEOs can’t be corporate CEOs and vice versa18:42 There are different types of growth20:27 Your focus will change when you reach 80 people inflection point23:34 The CEO job can get dreadful25:38 The problem with hiring overqualified people than the CEO27:16 Don’t let other people replace your CEO role entirely30:00 Anyone can get the title, but you have to earn the job

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. 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 Intro01:07 You have so much time in your career03:12 Be reasonable about given timeframes05:01 Look at the long view07:26 The most powerful companies were built over decades09:01 Don’t allow external opinions to tell you where you should be now10:48 What you can actually accomplish12:44 This might not be your decade yet13:59 Some resources will not be available now but will be in the future17:02 You have to pace yourself22:11 Build your pyramid

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. 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 Intro01:24 Living to fight another day02:41 Lying with the full intention of making it true04:29 Survival is the strategy08:36 Founders should realize the situation first12:44 Changes can make stay in the game longer14:39 Down round19:27 Invest in the reality of a business22:06 Double up on your winners, and cut pay on your losers24:24 Doing nothing is death

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.”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 Does being a parent make you a better founder?04:50 Teaching your kids to question everything 10:18 Leading with humility11:36 The answers can change when we ask questions14:03 Start with what makes you happy20:08 Just because you have talent, you don’t have to do it24:27 Give your kids permission to do something else25:26 Having empathy29:11 Stay curious

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.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 Intro02:01 Don’t get hung up on a business idea06:03 It’s alright to admit that you have no idea07:49 Getting wrong advice from the wrong people09:02 Push yourself harder to become wrong11:23 You have to be wrong first to know what right actually looks like12:29 Stop hiring the wrong people16:00 People can change because of variable reasons18:51 Hiring someone according to your own variable23:39 How to get marketing right?25:53 Learn to test to be less wrong27:16 Allow people to fail and be wrong28:59 There is a difference between being wrong and being negligent29:55 Humility is the key to good leadership

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. 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 Intro03:13 Sometimes there is a bigger problem behind any small issue04:27 When things look off, it’s because it’s off07:29 People don’t make excuses when they’re on their game10:11 Pay attention to the details18:36 Everyone is not going to be a top performer19:19 The organization will slowly regress to its slowest mover23:25 Ask the question, “what do you want to get done?”25:28 Opening the conversation with “how can I help?”

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. 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 Intro01:39 Don’t feel rushed and have more patience05:07 You can do a lot of transformative things in just a few years07:02 It’s okay to fail07:58 Cultivating relationships10:14 Find people who wants you to become a better person12:00 The “give & get” in relationships14:10 How relationships ends is how you get remembered15:56 Just be kind to yourself16:54 You have the ability to say no20:14 Learn how to zoom in and out in life22:22 It’s okay to let go of toxic relationships24:52 Will your younger self follow this advice?29:19 The big moments will be a series of big moments31:29 Success is not final, failure is not fail, it’s the courage to continue that counts34:37 Focus more on acting like the person you want to be vs. the person others want you to be38:53 Getting older gives us all the more perspective to offer to others42:34 Do it your own way46:26 The most valuable part of the process is learning 49:53 Be in the room54:09 You don’t have to figure out everything on your own

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.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 Nobody else wants to be accountable02:01 Founders always have the higher stakes04:36 The challenge founders face is to get everyone accountable06:53 Consequences affect accountability09:31 Not being accountable does not mean safety11:25 What happens to a company with no accountability14:45 Two components to get accountability18:18 Owning the outcome 19:46 Effects of reward and recognition23:28 Visibility in a company26:15 Changing up plans where everyone can adjust28:55 When founders don’t understand the importance of their accountability31:05 Excuses are the most powerful solvent that dissolves accountability

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. 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 Intro00:41 Most of us hadn’t led a team of managers03:14 Are you a babysitter07:03 This is what a good manager does12:39 Growth versus stability16:14 Managers should push teammates to transform themselves19:34 Patience and tolerance23:33 We want somebody that can make the team 10X better29:10 How are you making the team exponentially better?

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.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 Intro00:16 When do we stop destroying ourselves for our Startup?07:52 Wearing yourself out without measurable return16:40 When we feel like we have to make these sacrifices22:45 Top performers take their health seriously

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. 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 Intro00:20 When does anxiety go away?07:25 It started with a lot of anxiety, created more, and then just stayed19:19 Fleeting moments without feeling anxious24:54 Instead of saying, “I feel anxious about this problem…”29:52 Sometimes, you don’t need to take action

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. 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 When do founders actually get paid?05:28 The expectation of a linear path12:53 Startups.com just celebrated its 10th year anniversary13:49 We expect success in 18 months18:45 Why do founders get paid last?

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. 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 Intro00:41 We spend so much time thinking about what might go wrong04:41 Investors do care for us in some ways08:26 One failure won’t destroy you for life14:45 Customers only care about what you’re doing17:00 Focus on product quality instead of the competition21:45 Anxiety in the workplace

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. 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 Intro00:29 It’s a hard time for employees 03:58 Our ego is attached to this sense of ownership09:14 People always remember what they felt during a transaction13:19 How to properly handle demoting/letting go of people23:40 A founder’s ego and safety is being threatened also 29:10 Moving employees from full time to part time37:29 Should you hire more employees now?41:10 Taking advantage of talents being let go43:14 Deferred or partially deferred payment

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. 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 Intro00:24 Startup market crash06:47 The reason investing got so crazy14:59 We raise money to get to milestone17:35 When you start seeing lay-offs20:33 We have to switch to defense

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. 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 Why profit should always be the motive05:54 You can’t simply mimic successful Startups12:39 Give yourself enough time to learn everything about the business21:15 Growth can also be very distracting26:12 They all look like great when they’re just ideas

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’. 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 Intro00:53 Challenging the common narrative of raising funds03:32 What are you giving up when you raise funding?08:57 When the founder doesn’t feel comfortable13:02 Investors will defend their money first above anything else17:10 It’s not our company anymore23:09 The only positive side of raising capital

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.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 Intro00:34 How should we handle a stall?06:02 We naturally stall for a bit11:59 Investors just love new stats18:00 Live by the hype, die by the hype27:58 Companies that were founded as second acts31:21 How do investors think about the ebbs and flows?33:50 Once investors see real growth, their opinions change35:19 When nothing is being expected of you at the moment38:20 It’s not just growing for the sake of growth43:57 Building a Startup is a rollercoaster journey45:26 It depends on why you’re stalled49:45 Any decision made to satisfy someone else is bad decision52:24 Do you need funding right now?55:36 Founders tend to be an expert on a lot of things

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? 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 Intro00:19 Every founder has had a reset moment04:37 The person you hired before may not be the best person now09:31 What roles will not hire again?13:18 Directional changes do happen17:42 The compensation for every role21:26 Managing is a very different job24:56 Who should you rehire?30:36 What roles are the best way to use your resources?

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. 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 Intro000:43 What if we are at the peak of our opportunity?06:02 That moment when we strike lightning10:42 Be pragmatic14:44 Do not mess with your downside20:54 In our 20s, we don’t consider risks like we would in our later years25:43 In our older years, we can’t screw up

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!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 Intro00:07 There’s a lot of talk about founder liquidity03:19 No discussion with investors about taking money off the table08:37 The upside founders always wanted15:09 It is not an easy ask19:48 You should be able to have the conversation of who to ask23:56 Let’s flip the roles here26:32 What investors should be mindful of31:05 Equity represents the future value of the company

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!Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro00:33 How much choice do we really have as founders?02:37 It’s a privilege to be able to choose your investors08:40 The real point of leverage13:33 Sometimes time is what you need for leverage18:21 Creating a healthy work-life balance isn’t simple for founders25:31 You only get one or two options27:21 When the money is not worth it29:47 Are there other options to saying YES?32:16 Getting investment is easier for second-timers36:38 Putting your chips on one person38:31 Have clear goals and expectations40:50 How we are knowledge leveraged44:19 Why did you feel the need to have a cofounder?48:04 Is having a cofounder a necessary requirement?

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!Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro00:43 When we go through these moments of failure05:00 Founders dwell too much on what others think16:24 No one actually remembers21:40 Over some time, people will barely remember26:54 Always create a new narrative29:52 There is always a way forward32:57 2 steps at telling a better narrative

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!Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro00:17 Why are we afraid to take big swings?03:38 Is it a lie when you have the intent to back it up?09:48 Will you be able to back up your commitment?13:40 Take a big swing and manage failure21:03 Doing nothing will only lead to a slow demise25:09 The other side is you swing and hit

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?Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro00:11 The average founder surprisingly only earns a single digit08:28 The two separate roles: the founder and the owner12:24 We keep assuming we’ll get incentives externally20:08 Politics 101 during board meetings25:08 We have to rely on consequence

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro00:35 Things you plan to do upon retirement09:00 When you don't have something, having it is extra special17:34 The only reason it becomes special is because you can't do it23:38 "Responsibility is defined differently in retirement." - Donna26:14 "I don't think we want to fully retire." Andreas30:09 "You're never going to retire." Justin30:50 "Removing that 'need' makes a difference." - Richard33:09 "Independence to eliminate energy, time, and attention in the majority of things you want to do." - Jack35:44 "Retirement should allow for a bit more free schedule." - Lindsey39:57 "There is no real retirement." - Lou43:00 "Do a little more of what you're doing with less pressure." - Kathryn

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. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro00:53 Who told you exactly?09:13 Competitive investors vs. local investors14:00 Basics in qualifying a local investor19:02 The hometown hero founder23:53 What do you expect from a piece of advice?27:07 Super successful but totally irrelevant advisor32:12 Go outside of your local circle

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. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] Check in with us on LinkedIn | Wil Schroter | Ryan RutanWhat to Listen For00:00 Intro02:20 How real is urgency in the Startups world?05:33 Why false narrative around time becomes a problem13:48 We always feel our peak performance is unreachable18:52 If it’s urgent, play out the worst case scenario21:10 Decisions made with “we have to do this based on that”25:48 If we don’t success now, there's no opportunity to succeed in the future29:34 Build the business you want to do all day31:20 Building wealth isn’t constrained to one time capsule

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? Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:13 Can you go super liquid every year? 05:29 Digging a hole versus Building ladder concept11:23 How VC’s actually work15:54 The “Get rich all at once.” mentality23:39 Instead of stacking debt, stack on wealth27:24 What is your base hit approach?

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. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:21 At the early stage, what about our Startup is real? 02:46 The fake office story13:04 Don’t compare what you do with mature companies17:19 Take pride and genuine interest in doing every job21:53 This obsession with an organizational chart28:15 Credibility has been changed into authenticity

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.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:20 Every single word we say has consequences08:12 Your personal thoughts are not for public consumption16:06 Also, your personal life matters22:45 And now, the consequences are amplified26:39 The different rooms where you freely express your thoughts32:10 Your frustration pisses off, frustrates, distracts everyone else35:50 Find a room where you can talk about things you don’t want to talk about openly

In today’s Startup Therapy Podcast, Wil and Ryan talk about unhealthy relationships. Nope, this isn’t about love. This is about developing unhealthy relationships with family, friends, and anyone within your social circle because your toxic work life is making everything else toxic. And this is about why you can feel a little guilty for taking some time off but do it anyway.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:26 This very unhealthy relationship with work09:21 You create this pressure that you gotta do better every time15:31 Is a little bit of guilt a worthy trade for a better life?25:07 No one actually cares if you spend too much time in the office34:14 What drives you to overwork?41:54 We all are dealing with unhealthy relationships

In today’s Startup Therapy Podcast, Wil and Ryan talk about why a business shouldn’t stay a Startup. Sure, Startups get more opportunities to grow and funding offers to expand. But you can’t stay in this phase forever. Grow your business into a company that can run on its own, have a monthly recurring revenue that pays its monthly bills, and produce products that customers want to buy. That’s when you graduate from being a Startup to being a real company!Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:14 We can’t always be a “Startup”05:40 The goal is to become a real money-making company09:20 Why do we want to maintain the Startup facade?16:57 You should graduate from being a freshman 22:12 It’s not the funding that we should be celebrating

How many times has your competition kept you up at night? A new feature here, seed funding there, maybe you’ve even lost a customer or two – but how much of a threat are they, really? In today’s Startup Therapy Podcast, Wil and Ryan share examples of competitor flops, why you should be thankful if your niche has competitors, and why you need to stop being so distracted by what other businesses are doing & focus on making your current customers even happier to work with you,Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 - How much of a threat is competition, really?05:31 - Fear causes us to assume the worst, but the worst almost never happens16:12 - The Fountain & Zenefits examples & why competitor’s time and investment never guarantees competitor success21:54 - Competition is actually a great sign to start a healthy business & improving upon what exists already is the easiest way to succeed26:24 - Stop being distracted by competitors & focus on serving your customers

In today’s Startup Therapy Podcast, Wil and Ryan talk about dealing with issues at work and at home. As said many times, don’t bring your work problems home the same way you can’t let your personal issues affect your work performance. You can’t deal with issues from both ends because it's unhealthy. Find an outlet where you can express your worries and make sure you get some level of support from your family. It’s the only way not to exhaust yourself.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:46 We don’t want to talk about the battle at home03:04 Figuring out how to deal with your family issues06:44 Your health bar gets depleted not just at work09:14 You assume everybody is doing fine11:40 First, figure out stuff at home16:30 Be deliberate in saying you got stuff to do at home20:13 You can’t be all of anything21:26 How important it is to have an outlet on both sides23:44 When the level of support from family depreciates

In today’s Startup Therapy Podcast, Wil and Ryan talk about how comparison kills progress. Notice that you are often bound to fail when you start comparing your progress to your competition. What you can do to not fall into this trap is to go back to your goals. Recalibrate yourself, shut every possible distraction down, and focus on what you have envisioned to achieve. You can’t go astray when you know where you want to go.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:09 Is it possible to get ahead with your Startup?03:32 They’re just ideas 07:03 We are bound by the same progression scale10:20 Calibrating toward broken measurements14:20 We assume that the outcome is guaranteed if WE just performed22:11 The comparison kills the progress28:05 Go back to what your goals are

In today’s Startup Therapy Podcast, Wil and Ryan talk about discarding the 40-hour work week. If you work for 30 hours each week, what would you worry you won’t get done? Now, if you won’t sit eight hours in the office, what will you be able to accomplish? Can you possibly do more somewhere more comfortable than in your office? The answer? YES! You can accomplish so much more without the time constraints.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:08 The 40-hour work week concept05:19 It only works when you work less hours09:56 Project costing is super complicated16:41 Reliance on each other as part of the total outcome20:03 Is 40-hours the standard work week?25:25 What hours are we trying to pay for?31:23 Productivity is treated as an individual effort37:48 A 40-hour work week doesn’t align with everybody’s lifestyle40:09 What you worried you won’t get done?42:41 Take a fresh look at the ‘standard’ work week

In today’s Startup Therapy Podcast, Wil and Ryan talk about what happiness means for a founder. In most cases, founders find happiness when they feel safe, when their efforts are validated, and when people appreciate their accomplishments. It doesn’t require much, yet the effort put forth to achieve happiness is basically blood, sweat, tears, and years of hard work.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:29 What does it take to be happy as a founder?06:47 When you don’t feel safe, it’s hard to behave rationally11:00 Safety is knowing that you can whether the next storm15:19 Why do founders always seek validation?22:22 The next struggle is the preamble to the next validation25:24 Feeling proud of what you do32:30 Appreciating people’s accomplishments 36:22 When you feel safe, you can thrive37:25 Can you use not feeling safe as a positive?39:50 You learn more about things in the downtime41:43 The most impactful validations45:28 Just have fun and follow your happiness46:43 When you’re juggling too many things all at once51:00 The goal is what matters56:14 We are the damn business so let’s take care of ourselves

In today’s Startup Therapy Podcast, Wil and Ryan talk about what happens when funding is scarce. Will you seek another investor? Will you go on a fire sale? What other options do you have left? In the world of Startups and the struggles of keeping your business running, the fight is for you not to win. It’s more of a fight for you not to lose! Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:33 What do we do when no one wants to give us money02:04 Is there a heads up when you’re not getting additional funding?10:33 First, admit that you’re f*cked16:00 Next, you go on a fire sale22:13 Investors won’t get their money back but they wont lose more 25:51 What are your remaining options?28:32 We’re playing not to win, but not to lose

In today’s Startup Therapy Podcast, Wil and Ryan talk about celebrating the little successes. Most people focus on hiring more people, settling in a bigger office, or getting additional funding as a form of success. But for most founders, at the early stages of their business, smaller things such as not having to worry about the payroll or how much you can spend using the company card, are a little form of success. It’s about taking away liabilities one at a time. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:14 Misconceptions about success06:02 When you no longer worry about payrolls10:01 Happiness and success comes from taking things away 16:28 At the early stage, it’s always close to the line20:59 Chipping away the little liabilities over time22:42 Focus on the moments of little success27:11 We are rewarded for our effort in unexpected ways

In today’s Startup Therapy Podcast, Wil and Ryan talk about when is the best time to give up equity. At the early stages of a Startup, founders often seek to partner with a co-founder in the hopes of growing the company. But what founders don’t realize is that it may be too early to look for a partner or too risky to look for one. Selling the equity of your company, when it’s at its lowest value, will only nip down its potential growth.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:14 When is the wrong time to raise a capital?04:02 The equity is future value of your company09:29 Is giving up equity the only way?17:27 The single most expensive investment: meeting your co-founder20:24 The story of two founders23:56 What if there’s a law that won’t allow a co-founder in the first year25:02 Another founder story29:30 We often blind ourselves to other solutions31:08 You don’t have to do all in the same race35:43 Things you can do that won’t make you less vulnerable

In today’s Startup Therapy Podcast, Wil and Ryan talk about rising from a failure. Founders take it to heart when their business fails and often think that people will remember them for their failed business. Fact is, people easily move on and forget about the failed business. They won’t care. So, wallow on it as much as you want and then move on. A founder’s path is always open to more job opportunities. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:37 How paralyzing failure can be04:39 Let’s talk about what losing it all feels like09:14 When the business goes bankrupt, is your career completely over?16:15 You’re still around, what do you do next?20:22 When you think everyone will care all the time24:01 Founder path lead to more job opportunities

In today’s Startup Therapy Podcast, Wil and Ryan talk about taking a break to restart. The biggest fear founders have is what happens to the business when they take a much needed break. The fear that things might go wrong, the right decisions aren’t being made, or there’s simply too much to do that taking a break may sound hilarious. But guess what, with the right people in place, more than half of a founder’s work can be done by someone else. Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:29 We don’t believe we are allowed a sabbatical time off05:25 You’re burned out but you can’t detach yourself from the business09:37 Founder sabbatical is going away and doing something else entirely14:09 You should be able to reset and come back with a fresh head18:55 A sabbatical break has to happen22:37 Setting the time period and expectations matters24:30 How can a handful of people take over some of the workload?27:32 75% of your job can be done by someone else32:31 You can always come back when something goes wrong36:50 A forced sabbatical isn’t going to work

In today’s Startup Therapy Podcast, Wil and Ryan talk about honest optimism. What if you have this strong conviction that what you’re building will lead to success? What if you have this strong sense of positivity and optimism? Will it be enough to gain people’s trust and continue to pour more money into your company? But what if it’s just blind optimism and you’re not really getting anywhere? Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:22 Forward-looking optimism versus lying03:28 Are we lying to ourselves when outcomes aren’t as predicted? 06:42 What we’re pitching is potential outcome09:56 Reasonable expectation and not blind optimism12:08 Understanding the importance of optimism18:44 Here’s where it becomes straight up lying22:28 The consequence of going beyond optimism26:43 Founders getting caught up in not presenting28:38 There’s truth in optimism and there’s misaligned intention

In today’s Startup Therapy Podcast, Wil and Ryan talk about the 100-hour work week. The adrenaline to overexert and overwork yourself so you can get more things done is a hustle that no founder should be investing into. Here’s why. You can only get things done at your peak hours. No one gets productive a hundred hours a week. It’s an awful burnout.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:45 The Hustle Porn hype: The 100-hours work week05:21 How many hours a day are your peak hours?09:25 If you give yourself more hours, you spend more hours13:15 Why are your work days loaded?18:54 When you think you’re crushing it22:30 Oh, you’re crushing it but at what cost?28:02 The 30-second success story of a founder on social media31:19 Get out of the habit of ‘how you’re crushing it’32:28 Those who don’t brag about crushing it are actually the ones getting the work done35:55 We need to put an end to the hustle porn

In today’s Startup Therapy Podcast, Wil and Ryan talk about a founder’s social circle. Wherever you may be, you’ll always meet another founder. Surprisingly, your Startup is helping you build these connections, a space where you can meet and create relationships with people who share the same experience as you and probably have similar views as well. A founder’s space is just the right place to check how far your voice can influence and be heard.Sign up for the Startups Newsletterhttps://www.startups.com/newsletterResources:Startup Therapy Podcast https://www.startups.com/beginJoin our Network of Top Founders Send an email to [email protected] What to Listen For00:00 Intro00:46 Startups are the social engines for most founders03:07 Your social circle evaporates when you sell your company07:37 Our relationships often have consequences11:39 Understand which relationships are worth maintaining15:12 Startups create a magnet for interesting people to join your circle21:12 How far your voice can influence and carry26:12 What we do creates a social gravity29:41 Diversity in the founder’s space