Startups For the Rest of Us
Episode 510 | The Story of Startups.com
Aug 18, 2020
Wil Schroter, CEO and founder of Startups.com, shares his two-decade journey in the startup ecosystem. He discusses the significance of prioritizing output over hours worked to achieve true productivity. Wil also dives into the financial implications of selling companies and the evolution from client services to product-based offerings. Key insights include the strategic advantages of acquiring existing products and the importance of aligning professional choice with personal values for fulfillment. His candid reflections on entrepreneurship and its challenges are both enlightening and engaging.
34:49
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Quick takeaways
- Wil Schroter emphasizes the importance of acquiring existing businesses over starting from scratch to bypass operational inefficiencies and enhance scalability.
- The discussion highlights a pivotal lifestyle shift where prioritizing health and family over long work hours significantly improved productivity for entrepreneurs.
Deep dives
The Journey to Entrepreneurship
Starting an agency at the age of 19, the founder shared his early experiences and rapid success, ultimately leading to a significant exit in 2003. This achievement provided him with a sense of financial stability, marking the beginning of his entrepreneurial journey. After selling his first company, he quickly transitioned into launching an incubator, Verticon Ventures, where he helped conceptualize various startup ideas. This phase highlighted his belief that venture capital often leads to inefficiencies in startup funding, and he found value in acquiring existing businesses instead.
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