The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: How To Build Meaningful Relationships With Your Investors, 4 Key Elements CEOs Must Focus On In Scale Mode & How Top Optimise Leadership Team Dynamics with Joel Flory, Founder & CEO @ VSCO

Feb 1, 2019
Joel Flory, Founder & CEO of VSCO, shares his journey from a photographer to a startup leader. He discusses the importance of aligning business models with mission and how a shift to a subscription model positively impacts growth. Joel emphasizes investor selection based on shared vision rather than just brand prestige and offers insights on distress-testing VCs for true engagement. He also highlights leadership dynamics, prioritizing organizational health and servant leadership, as essential for scaling a successful team.
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ANECDOTE

Founding From Creator Frustration

  • Joel and co-founder Greg Lutz launched VSCO from their shared frustration as creators ignored by product companies.
  • They decided to build "by creators for creators" to focus on a direct relationship with users.
ADVICE

Raise Only With A Clear Why

  • Don’t raise capital unless you know why and how you will deploy it.
  • Stay capital-flexible: raise when scaling requires it, not because it's available.
ANECDOTE

Profitability Before Institutional Raise

  • VSCO grew to 43 employees and was profitable for two and a half years before raising institutional capital.
  • Their first raise resembled a growth round because they scaled organically first.
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