MASTERING COMPANY GROWTH with JOE SCHAEPPI, CEO & Co-Founder of Solsten
Sep 4, 2023
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Joe Schaeppi, CEO & Co-Founder of Solsten, shares secrets of success for entrepreneurs. Topics include mastering board meetings, building cultural diversity, cracking the code on tricky interviews, and nurturing empathy. Tune in to level up your game!
Building trust and open communication with investors can lead to more effective board meetings.
Understanding and managing investors' expectations becomes crucial as a company transitions to the growth stage.
Engaging board members in thought-provoking discussions and leveraging their expertise can lead to valuable insights and contributions.
Founders should establish a strong professional identity, values, and performance culture to attract top talent and support diversity initiatives.
Deep dives
Importance of Building Trust with Board Members
Building trust with board members is crucial for a successful board meeting. Understanding the goals and expectations of each investor can help align the board's efforts towards achieving a shared vision. Taking the time to have casual conversations with investors, understanding their concerns, and addressing them during formal board meetings can create a productive and supportive environment. Fostering open communication and empowering investors to provide valuable insights can lead to more effective board meetings.
Transitioning from Early-Stage to Growth-Stage VCs
The dynamics of a board meeting change as a company transitions from early-stage to growth-stage investors. At the growth stage, investors often prioritize different goals due to their return on investment expectations. Managing these expectations becomes crucial for founders. Understanding each investor's perspective, goals, and what good looks like for them can help shape board discussions and make them more impactful.
The Value of Architected Boards and Workshopping Key Topics
As a CEO, it is essential to have a functioning board that aligns with the company's vision. Working towards a strong board from the early stages ensures a smoother transition as the company grows. Identifying key areas of the business and creating workshops after each section of a board meeting can boost productivity and align board members towards shared goals. Engaging board members in thought-provoking discussions and leveraging their expertise can lead to valuable insights and contributions.
The Role of CEO in Board Meetings and Setting the Vision
As a CEO, it is crucial to take an active role in running board meetings and setting the direction of the company. The CEO's responsibility includes ensuring smooth board meetings, constructing functional boards, and facilitating effective communication. At different stages of the company, the CEO's involvement in board meetings may increase, requiring careful management of investor relationships and a focus on the long-term vision of the company. It is important to interview potential investors early on and ensure alignment of values and goals to create a cohesive and supportive board that drives the company towards its vision.
The Importance of Developing a Professional Identity and Values
When building a startup, it is crucial to establish a strong professional identity and values. This includes understanding your own values, principles, and virtues. A founder should have a clear vision for the company and ensure that its values align with their own. By defining and consistently reinforcing these values, founders can create a performance culture that attracts top talent. Additionally, understanding the diversity of perspectives within the team and the different meanings of diversity across cultures is essential. As a company scales, it can further contribute to diversity initiatives and support the development of individuals by going upstream and mentoring young talents.
The Challenges of Hiring and the Importance of Values
Hiring is a challenging process, and founders need to focus on finding the best possible match for the job to be done. Values play a crucial role in this process, helping to align the vision and values of the company with the individuals within the team. Having a performance culture can be integral to a startup's success, especially in scientific or rigorous environments. While diversity and inclusion are important considerations, it is crucial to understand the specific goals and needs of the company. As startups grow and become successful, they can advocate for diversity initiatives and contribute to their broader community.
The Role of Empathy and Communication in Building a Strong Company Culture
Empathy and effective communication are vital in building a strong company culture. It is important to develop empathy as a muscle, allowing individuals to understand and relate to different perspectives. By fostering open communication and empathy, teams can overcome biases and work together more effectively. In addition, founders need to clearly define the professional identity of their company, understanding its principles and virtues. This clarity and alignment contribute to an unshakeable vision for the company and allow for better decision-making in hiring and team development.
In this power-packed episode, Joe Schaeppi shares his secrets of success for business leaders, founders, and innovators. From mastering board meetings to becoming the ultimate hub for innovators, building cultural diversity, nurturing empathy, and cracking the code on tricky interviews, this episode is a goldmine of invaluable insights to sharpen your entrepreneurial skills and propel your company to greater heights.
Whether you're an aspiring entrepreneur or a seasoned founder, tune in to level up your game!
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