Josh Pigford - Founder Baremetrics and Host Founder Chats Podcast - 114

Oct 30, 2018

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Guest - Josh Pigford, Founder of Baremetrics

Josh is the host of the Founder Chats podcast, he is an entrepreneur, maker, and the founder of Baremetrics. Josh shares some great experience, perspective, and background. We discuss startups, his founder journey, learning, sleep, and more.

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Questions Addressed

Why is it important to be open/transparent with your numbers?
How has transparency impacted the way you have built out the Baremetrics team.
What compelled Josh to share his absurd list of products, apps, websites, and business?
Where does "Learning by Doing" fit into Josh's process?
What did Josh learn from starting a band?
Where did Josh learn the importance of delegation?
The "Primary job of the CEO is putting things in motion" - How does Josh think about accountability?
What are some of the patterns Josh has noticed from the interviews he has had on the Founder Chats Podcast?
What is Josh's learning process?

Key Takeaways

Baremetrics is a Revenue Analytics Platform
Built based on a need he had for his organization
Authenticity & Transparency was lacking.
The news was focused on "good news stories" but not where 99% of us operate.
Josh - Transparency
- I need other people to weigh in on things and provide input, they need context to do this.
- If they don't have the data, all they are sharing is opinion without context.
- Our financials are available to the team.
- Nothing is a surprise.
Absurd List of Products/Apps/Websites/Businesses - Recognized Patterns.
- Forgotten how many, and how crazy some of the ideas were.
- Opportunity to learn something via a real-world project
- Josh would identify a trend, and would try to replicate success. (many of these failed)
- Shifted to a product approach (e-commerce, web-based) really enjoyed building, and refining the process.
Importance of Learning by doing
- Programming Languages
- Playing the Guitar
- Taking what someone has done, trying to copy, creates an opportunity to learn.
Let people who have certain strengths, make good use of those strengths.
Being able to do all the things is important early, but you need to know when to let go.
Hire out your weaknesses.
When something feels like a significant pain, that is the right time to hire. Hiring too early gets expensive.
Crucial to hire with capabilities in mind. Provide the guidelines, but let them work autonomously. Equip them with the tools that they need.
Patterns recognized from interviewing founders.
- Almost all have a pretty lengthy history of doing/trying different things.
- Almost no one is on their first thing.
- Chances are this "first thing" is not the thing.
Josh's learning process
- Starts with a goal (iterative)
- Needs to create a feedback loop
- Small wins are a requirement
- Create the next few steps to get to the next thing.
Product Market Fit
- You can't know the path, but you can look for the little things along the way that will nudge you in the right direction.
- The small little steps along the way are critical.
Sleep is critical - lack of sleep makes you a worse founder, sales, rep, etc.
- Schedule your sleep
- Make a conscious choice
It is important to hear how others have done things, but it is more important to just keep trying things. 90% may not work, but it's ok, keep moving forward.
Figure out what works well for you.

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