"1 to 1000" | Scaling Startups with CEOs

E9: Henry Ward on Navigating the Startup Idea Maze and Building to Scale

15 snips

Nov 21, 2023

In this episode, Henry Ward, CEO and co-founder of Carta, discusses navigating the startup idea maze, finding a market wedge, hiring the best VPs, recognizing product market fit, and building the right executive team.

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ANECDOTE

Carta's Initial Wedge

Carta's initial wedge was offering cheaper cap table management than law firms.
In exchange, Carta issued electronic stock certificates, creating a network effect.

INSIGHT

Initial Wedge

Founders often focus on the network effect's potential, forgetting the initial wedge.
Focus on how to get the first customers, the 'come for the tool' aspect, before building the network.

ADVICE

Exploiting Market Gaps

Identify an underserved gap in the market that can serve as a beachhead.
Exploit this wedge to enter a larger market and grow from there.

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On this episode of 1 to 1000, we interview Henry Ward, the CEO and co-founder of Carta. We chat about frameworks to navigate the idea maze to a $100M idea, identifying a wedge in a market, and how to hire the best VPs to scale with. If you’re looking for SOC 2, ISO 27001, GDPR or HIPAA compliance, head to Vanta: https://www.vanta.com/1000

🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

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RECOMMENDED BOOK:

The Innovator’s Dilemma by Clayton M. Christensen https://a.co/d/1HIo9ii

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X / TWITTER:

@henrysward (Henry)

@eriktorenberg (Erik Torenberg)

@TurpentineMedia

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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.