SPOTIFY FOUNDER, DANIEL EK TO INVEST 1 BILLION EURO IN THE EUROPEAN TECHNOLOGY START-UPS – Industry Global News 24

SPOTIFY FOUNDER, DANIEL EK TO INVEST 1 BILLION EURO IN THE EUROPEAN TECHNOLOGY START-UPS  Industry Global News 24
“startups when:1d” – Google News

As Electric Truck Startup Hyliion Goes Public, Founder Is Set To Be America’s Youngest Self-Made Billionaire – Forbes

As Electric Truck Startup Hyliion Goes Public, Founder Is Set To Be America’s Youngest Self-Made Billionaire  Forbes
“startups when:1d” – Google News

Upsie founder Clarence Bethea joins Beta.MN board in push for diversity – Minneapolis / St. Paul Business Journal

Upsie founder Clarence Bethea joins Beta.MN board in push for diversity  Minneapolis / St. Paul Business Journal
“startups when:1d” – Google News

Sunnyvale startup, with help of Amazon and Nest founder, aims to replace the world’s electric motors – Silicon Valley Business Journal

Sunnyvale startup, with help of Amazon and Nest founder, aims to replace the world’s electric motors  Silicon Valley Business Journal
“startups when:1d” – Google News

Do you have a question you’d like to ask a founder of a B2B SaaS that makes over 1 mil a year?

Couple of top tips up front:

  • If you've made something awesome people are going to try and join your team. No matter how amazing their resume it probably won't work. For the right person make deals easily but always with a cliff. Eg: We have now had a load of people say things like with my black book and your tech we'll be printing money. The most recent one sounded like it could not fail. The guy was an MD bringing in over 20 mil of business a year in a related space and he wanted to push our product as he'd seen a sale I'd closed and thought he could replicate. Turned out he couldn't but we walked away and our cap table didn't take a hit.

  • Cash is king, raising seed money is easy (relatively), don't think that the A round will be near as easy. Basically to make an A round easy you have to not need the money. If you raise money spend against closed deals only. Verbal agreements mean nothing.

  • before seed you need to prove someone will pay

  • before series A you need to prove a lot of people will pay. 1 mil + recurring revenue or 10k active users

  • if you employ people realise that you are the shit shoveler. They won't make the same life changing money if you succeed so nobody is more motivated to shovel shit than you. If you task them with shovelling shit they will slow down. If they see you shovelling shit they might just roll up their sleeves and help you out

  • never deliver bad news without a plan for how to get out of it. We've been through incredibly hard times but our team is mostly in tact (we lost 1 we didn't fire) if people believe in the vision they will put in the effort

  • fire easily if it's not working out. Set clear objectives and if people are not delivering, do a few months of trying to coach them out of it. If they still fail and you've done what you can, you're team won't mind that you fired them. Also always reassure those that you're not firing that they are fine, you don't want to worry top performers.

submitted by /u/_DarthBob_
[link] [comments]
Startups – Rapid Growth and Innovation is in Our Very Nature!

Brampton partners with Founder Institute to support startups, create jobs • Canindia News – CanIndia News

Brampton partners with Founder Institute to support startups, create jobs • Canindia News  CanIndia News
“startups when:1d” – Google News

MedHaul founder Erica Plybeah lines up success with Google and Morgan Stanley’s help – Memphis Business Journal

MedHaul founder Erica Plybeah lines up success with Google and Morgan Stanley’s help  Memphis Business Journal
“startups when:1d” – Google News