Scaling Startups with Jess Mah: Insights from inDinero to Biotech
Feb 27, 2024
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Jess Mah, entrepreneur and founder of successful companies like inDinero and Astonishing Labs, discusses venture building, innovation in health and technology, and scaling startups with exit strategies in this insightful podcast episode.
Venture Building requires a different approach than traditional VC investing, focusing on long-term growth over short-term gains.
Innovation in health and technology is imperative for creating groundbreaking solutions that revolutionize human health and advance the industry.
Scaling startups successfully involves strategic planning for exit strategies to ensure sustainable growth and value creation.
Deep dives
Key Insights from Building Multiple Companies
Many key insights were shared in the podcast episode regarding building multiple companies. One key point highlighted was the preference for repeat founders who consistently perform well compared to first-time founders. A focus on building high-performance teams and ensuring complementary skills were also emphasized.
Importance of Seasoned Operators versus Highly Technical Founders
The distinction between seasoned operators and highly technical founders was discussed. While technical expertise is crucial, the ability to build and lead a team efficiently is seen as a vital trait in successful CEOs. The podcast highlighted the challenge of balancing technical prowess with leadership skills.
Building Authentic Relationships in the Industry
Developing authentic relationships in the industry was a prominent theme. The podcast emphasized the importance of common interests and shared experiences in fostering genuine connections. Recommendations were made to nurture friendships based on mutual hobbies and common grounds.
Approach to Risk and High Conviction Investing
The approach to risk and high conviction investing was a key topic. The speaker shared insights on reducing risk by maintaining a high involvement in each invested company to ensure success. Personal experiences with investments that did not perform well were discussed, highlighting the need for a hands-on approach in mitigating risks.
Collaboration with Mentors and Peers
The importance of collaboration with mentors, peers, and advisors was a significant focus. Insights were shared on seeking guidance from individuals one step ahead in their career journey and leveraging relationships to support and uplift each other in the entrepreneurial landscape.
Jess Mah built her first 6-figure business while still in middle school and has since created three companies that are each valued in the hundreds of millions of dollars. Among the companies she’s founded are inDinero, a fintech company that helps businesses manage their accounting and taxes; Astonishing Labs, is a biotech firm focused on revolutionizing human health with groundbreaking innovations; and a litigation tech company that has empowered over a thousand individuals to pursue justice, offering resources they may otherwise have been unable to access. Jess studied computer science at U.C. Berkeley and has been featured on the cover of Inc. Magazine, as well as on the Forbes 30 Under 30, Inc. 30 Under 30, and Fast Magazine Most Creative Business Leaders lists. She’s also a Y Combinator alumna and a member of the Young Presidents' Organization (YPO).
- Venture Building vs. Traditional VC Investing
- Innovation in Health and Technology
- Scaling Startups and Exit Strategies
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Grace Gong hosts a top VC podcast called "Smart Venture Podcast" (SVPpro.com). Past guests include C-level and VP executives from Google, Meta, Amazon, and others; Managing Partners of leading funds, many of whom were featured on the Forbes Midas List; and unicorn founders such as the founders of Craigslist, Square, Loom, and Cruise. Prior to this, Grace worked in venture capital and private equity. She has authored books that topped the New Release in Venture Capital category on Amazon. Additionally, she is a LinkedIn Top Voice in Finance and is an angel investor.
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