Swisspreneur Show

Timestamps 2:45 - Do I need a co-founder? When is it absolutely essential to get one? 4:15 - How to get to the right organizational set-up 9:47 - What's a good vision for a company? 16:59 - How small is a lean startup? What are the advantages? 18:42 - How do I find the right people? 30:09 - Should you work with freelancers? Can you onboard them later on? 32:16 - Getting an inexpensive, rockstar team for you startup 33:55 - Should every employee get stock options? 36:28 - What role do team meetings play in the EOS system? 43:35 - What is the role of the visionary? 45:50 - How to prepare your organizational system for growth. 47:40 - Which admin tasks should you outsource? 50:16 - Do we need marketing experts? About Christian Burger: Christian Burger is the founder and owner of Antarius Gmbh and one of Switzerland’s first licensed implementers of EOS (the Entrepreneurial Operating System). Christian advises the leadership teams of companies how to effectively set up their organization. He holds a degree in electrical engineering but focused a major part of his career on project management before starting his own company Nomasis in 2007, which focused on enterprise mobile device management, and later Antarius, a business consultancy, in 2010. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps 2:10 - What mistakes do you see Swiss startups make repeatedly when it comes to growth and scale? 11:27 - How to manage distribution partners 17:28 - Marketing and customer service: can you handle it remotely? 22:30 - Challenges of scaling up 31:56 - What role does company culture play when it comes to scaling? The Episode In 60 Seconds Getting the basics right Don’t underestimate how long it will take you to build sales channels. Invest time into developing them at the same time as you are developing your product. Switzerland is too small. Go international fast. Be present where you want to build your network. Managing high growth sales channels Your partner has to make an upfront investment in order to be able to sell your product. They will only be willing to do this if they believe in your vision and see an opportunity to grow together with you. You should own the selling process and have your partners’ commissions tied to project delivery milestones. This will maximize their incentive to make the customer happy. To assure quality, you should own the certification process of everyone who sells your product Culture at scale Leadership is culture. Culture is what drives the company beyond the term of any single manager. At scale, culture has to become more explicit in order to keep everyone on board. Write down your values and talk about them often. The trust of your employees is your most valuable asset. Do not squander it by paying salaries late or otherwise breaking your word. Surviving the race to scale Growing a company is tough, there is no other way to say it. If you aren’t willing to put in the hours, it may not be the right business for you. Sleeping is vital. Learn how to sleep “effectively” by shutting off your thoughts and finding deep relaxation, at least for a few hours.

Timestamps: 2:24 - Going from founder to employee 17:36 - How doing an apprenticeship helped him with his startup 33:19 - Building an international brand 38:57 - Starting a spin off of his own company 47:42 - Manuel Grenacher's future plans About Manuel Grenacher: Manuel Grenacher is the founder and fmr. CEO of Coresystems, a cloud solution that helps companies to source and coordinate technicians for customer service. In 2017, Siemens decided to use Coresystems to digitize their global customer service technicians network. Subsequently, in 2018, Coresystems was bought by SAP, where Manuel is now General Manager for Cloud Service Solutions. Previously, Manuel had already successfully sold Mila, a spin-off of Coresystems to Swisscom in 2015. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps 2:24 - Why choose bootstrapping? 16:10 - Time management 25:21 - How to frame your product 33:12 - Getting a product into stores 42:57 - Should you go for paid marketing? The Episode In 60 Seconds Thinking about bootstrapping? Jutta Jertrum has done it and here are some of the points to consider: Trade-offs Bootstrapping usually means higher independence in exchange for fast growth. It may take longer until you pay yourself a salary, since any money comes directly out of the company’s cash flow. Getting your partner on-board Starting a business can strain a relationship, particularly the financial aspects. Do not underestimate this and address it with your partner early on. In an ideal situation, a partner can provide the financial support to cover the monthly living expenses. This should however not be expected or taken for granted. Client acquisition Reference clients and authentic customer testimonials are some of the most powerful tools for client acquisition. If your offer is declined, always ask why. Don’t be afraid to try again. Awards and startup competitions are a great way to get the word out there, gain credibility and free PR. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps: 3:18 - Why did Jutta start her own business? 12:19 - How to choose the right company to work with 20:00 - Taking care of logistics 31:42 - Blacking out on live TV 39:10 - Did Jutta sign the contract with the sharks? About Jutta Jertrum: Jutta Jertum is the inventor and owner of Twist Out, an ecological drain cleaning device. Jutta was the General Manager at the Castle Rapperswil when she discovered that she could clean her clogged drains more ecologically and effectively using a wooden stick of a very specific shape. She then quit her job and patented the invention. In Switzerland, Jutta is best known for her appearance on the TV show “Höhle der Löwen”, where she was offered a deal which she ended up rejecting after the show. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps: 2:15 - The early days of Run My Accounts 11:14 - The challenges of growing organically 26:21 - Early-stage financial tasks 40:11 - What accounting software should you use? 53:20 - How does pricing affect liquidity and cashflow? The Episode In 60 Seconds  Getting your finances right. In the beginning: There is no point waiting with signing up to VAT, if you go over the threshold of 150k revenue in a year, it is already too late and will be painful to catch up. You can, however, save yourself time and effort by doing your first year end closing after 23 months instead of 12. Check the regulation of the Canton where your company is registered. Invest some time and energy into the setup of your accounting system. Having to fix it later down the road is costly and time consuming. Choosing a fiduciary: Chose your fiduciary first and take the accounting software they recommend. Use a simple system in the beginning, without subledgers. If you switch systems, do it at the end of the financial year. Don’t import old data into the new system. Excel is not powerful enough. Liquidity planning: Cash is the oxygen of your company, so better know how much you got left until you run out. Be aware of the “hidden costs” of growth: on-boarding employees, finding additional workspace, setting up new tools and processes. Consider the impact of your payment terms on your liquidity. If you are ecommerce, the way you manage your stock will be significant for your liquidity. The smaller you keep it, the better. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps 1:58 - From a legal aspect, what scaling mistakes do Swiss startups make repeatedly? 10:30 - Convertible loans or capital increase? 21:21 - How to handle non-compete clauses 33:10 - What startups should me more aware of 38:14 - Taxes for startups The Episode In 60 Seconds Just like your apartment, your company needs some basic housekeeping in order to avoid descending into chaos. Financing rounds It’s not advisable to negotiate your term sheet without a lawyer if you don’t have previous experience. Although they aren’t legally binding they set a strong precedent which is hard to negotiate your way out of. By the same token, don’t use the template of your investor. Be sure you understand the liquidation preferences you agree to If fundraising has to be fast and determining a price is difficult, consider a convertible loan Employment contracts Watch out for IP (intellectual property) rights, notice period and non-compete clause (limit 3 years) For employee incentivisation, you can decide between Share plan: more tax friendly for your employees, usually higher administrative burden for the company Phantom stocks: easier to administer but taxed as income Exit Exits usually take the form of either an M&A (Merger and Acquisition) or an IPO (Initial Public Offering) M&As come in 2 forms: Asset deal: meaning you sell all the companies assets, including employees to a new owner Share deal (more common): the acquiring party buys a majority of the shares and therefore takes control of the company. IPO: are still rare in Switzerland, mostly because they involve large costs (several $ millions) for preparing the so called “prospectus”, the document based on which the shares are offered on the stock exchange. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps 2:00 - Why aren't business angels just called "investors"? 5:17 - What's the best time to approach a business angel? 13:50 - How to convince a business angel to invest in an early-stage idea 16:36 - The relevance of a team 21:19 - What KPI does Carole use to assess a product's market? 26:21 - Education or experience? 31:32 - How much of business decisions is gut feeling and how much comes from thorough analysis? 35:59 - How to read a business angel's intentions 39:07 - How much money do business angels invest? 40:24 - What does the investment process look like? 42:51 - How to split legal costs 48:08 - How an angel evaluates a startup 50:17 - Convertible loans: yay or nay? 55:07 - What separates good from great founders? 56:18 - How does Carole keep herself up to date? About Carole Ackermann: Carole Ackermann was the president of Business Angels Switzerland (BAS) Association from 2010 to 2018. In 2007, she founded Diamondscull AG, an investment and coaching firm based in Switzerland. Through BAS and Diamondscull as well as her mandates on multiple Boards of Directors, she has acted as a startup and executive coach for many years. Carole holds a PhD in Marketing from University of St. Gallen (HSG). Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps 1:33 - What mistakes do Swiss startups make repeatedly when it comes to their exit? 13:44 - Keeping investors satisfied 22:50 - What founders get from an exit 30:57 - When should you sell your company? 33:28 - Requirements for trade sale exit The Episode In 60 Seconds Finding the right exit strategy for you and your company. Getting the basics right Look beyond Switzerland for potential buyers If you can, get help from specialized M&A boutiques Broaden your shareholder base to get easy access to new markets and industries Selecting the right partner and deal Institutional investors usually curtail the entrepreneurial freedom of the founder more strongly than non-institutional investors such as family offices. Aggressive growth often leads to the founders being left with very small stakes in the company once the time for an exit has arrived. Don’t select buyers based on valuation but based on their values aligning with yours. Don’t forget that most likely, you will still be obliged to work in your company for a few years after it has been acquired. The price of an acquisition is often split in a fixed part and a variable part, called earn-out, that gets paid out on defined targets and incentives over the duration of 1-5 years. Timing Depends on several factors: Can the company still realize significantly more growth in the future? Do you still have the passion and energy to drive the business forward? Exit options M&A (Merger and Acquisition): Selling of the companies assets or shares. For smaller companies with revenue generally above $ 10m. IPO (Initial Public Offering): Listing of the company on a public stock exchange. Usually not feasible for revenue below $ 200m. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!

Timestamps: 1:28 - Selling his first company at 28 years old 20:10 - Staying healthy while working 6 days/week 24:56 - How did Marc meet Mark Zuckerberg? 45:56 - The bitcoin crash of late 2018 49:11 - The future of blockchain technology About Marc P. Bernegger: Marc P. Bernegger is the founder of usgang.ch, a nightlife platform, and Amiando, a ticketing system for events. Marc started usgang.ch in 1999 when he was 20 years old and sold it to Axel Springer in 2008. In 2006, he co-founded Amiando based out of Munich. Amiando was acquired by Xing in 2010. Since then, Marc has been active in the fintech space, as founder of the Crypto Finance Conference St. Moritz and of Crypto Finance AG and as a board member at Falcon Bank. Marc holds a Masters in Law from the University of Zurich. Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest  initiatives. That way, there’s no excuse for missing out on live shows,  weekly give-aways or founders dinners!