E38 Why founders shouldn’t do YC and other accelerators
Sep 20, 2023
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The podcast delves into topics such as starting a new business after selling a previous one, personalized registry platforms for parents and organic referral data, joining YPO and building a leadership team, challenges and benefits of building a remote work culture, creating a virtual community, the value of mom friends and supportive communities, and the role of equity and motivation in startups.
Lily Walla shares her experience of scaling her previous business, Spots Promotional Products, by providing personalized branded products for companies like 1-800-Flowers and Chewy.
The importance of establishing a strong remote culture and considering both equity and cash as motivators for employees in early-stage startups is highlighted in the podcast.
Deep dives
Introduction and Guest Introduction
In this episode of the Second Time Founders Podcast, the regular host, Kevin, is absent due to illness, so Andy takes over as the guest host. They welcome Lily Walla as the special guest, who is a second-time founder based in New York City.
Lily's Background and Previous Business
Lily shares her background, starting her career at Union Square Hospitality Group before venturing into entrepreneurship. She discusses her previous business, Spots Promotional Products, which specialized in personalized branded products for the food industry. She explains how they scaled by providing personalized items for companies like 1-800-Flowers and Chewy, eventually selling the business in April.
Introducing Village and Its Unique Offering
Lily introduces her current venture, Village, a baby registry platform powered by social-based recommendations. She explains how the platform combines the ability to register for baby items with the wisdom shared by experienced moms in the form of spreadsheets and guides. The goal of Village is to create a sense of community and provide a platform where expectant parents can register for essential items with the guidance of the collective knowledge of other parents.
Discussion on Remote Work, Hiring, and Equity vs Cash
The conversation shifts to remote work and its potential impact, particularly in building a company culture and community. The hosts and guest share their experiences with remote work and highlights the need for intentional efforts to establish a strong remote culture. The discussion also touches on the importance of considering both equity and cash as motivators for employees, with a recognition that not everyone may be motivated by equity and may prioritize cash compensation, especially in the early stages of a startup.