Startup Hustle

Tyler Lieber, co-founder and CEO of Coconut VA, joins Matt Watson on the Startup Puzzle podcast to discuss the benefits and challenges of hiring virtual assistants (VAs) in the Philippines. They share their personal experiences with remote hiring and highlight the importance of trust and communication in working with VAs. Tyler explains that VAs can assist with a wide range of tasks, from email and calendar management to event planning and project coordination. They also discuss the unique advantages of hiring VAs in the Philippines, such as their strong work ethic, English proficiency, and cultural compatibility with US clients.  Tyler emphasizes the importance of providing competitive pay and benefits to attract and retain top talent. In terms of sales and marketing, Tyler and his team rely heavily on referrals and content marketing to build trust and establish relationships with potential clients. They also discuss the value of strategic delegation and how VAs can help founders become more efficient and focus on high-value tasks. The conversation concludes with a reminder to prioritize work-life balance and take strategic vacations to assess task dependencies and delegate effectively. TakeawaysHiring virtual assistants (VAs) in the Philippines offers unique benefits, such as a strong work ethic, English proficiency, and cultural compatibility with US clients.VAs can assist with a wide range of tasks, including email and calendar management, event planning, project coordination, and more.Building trust and establishing relationships are crucial in the sales and marketing of VA services, with referrals and content marketing being effective strategies.Strategic delegation is key to scaling a business and avoiding becoming a bottleneck as a founder.Taking strategic vacations can help identify tasks that can be delegated to VAs and improve work-life balance. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Coconut VA here:https://www.coconutva.com/cva-linkedin Learn more about Tyler Leber here:https://www.linkedin.com/in/tyler-leber/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"If you are hiring an executive assistant, or in this case, what we call a virtual assistant, you are hiring somebody that is just there to help you in whatever possible way that they can.""The jobs that we are creating for these people are so important to them and so valuable to them, and they're by far some of the best opportunities and best jobs that they will find.""Referrals are so important in this type of business because really just that trust building and that relationship building is the key to making any sales in this industry." Chapters00:00 Introduction and Background03:00 Starting a Business in the Philippines06:18 Navigating Business Operations in Another Country09:07 Training and Mentoring Virtual Assistants10:50 The Role of Virtual Assistants14:11 Why the Philippines for Virtual Assistants18:03 Sales and Marketing Strategies for Virtual Assistant Services22:43 Target Market and Geographic Reach29:52 Tips for Hiring and Working with Virtual AssistantsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Nimrod Vromen, author of Prompting Happiness, about the future of generative AI and its impact on various aspects of life. They discuss the role of lawyers in startups, the importance of focusing on distribution rather than protection in the early stages, and the need for founders to have a clear and comprehensive founders agreement. They also explore the potential of AI in enhancing communication, language translation, and interconnectivity among humans. The conversation delves into the impact of AI on happiness and the importance of self-prompts for personal growth and well-being. TakeawaysIn the early stages of a startup, it is more important to focus on distribution rather than spending a lot of money on legal protection.Founders should have a clear and comprehensive founders agreement, including reverse vesting, to address potential issues and prevent conflicts.AI has the potential to enhance communication, language translation, and interconnectivity among humans, but it is important to maintain meaningful connections with other humans.Self-prompts and a positive approach are essential for personal growth and happiness in the age of AI. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Empowerment here:https://arkempowerment.com/ Learn more about Nimrod Vronen here:https://www.linkedin.com/in/nimrod-vromen-7378435/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"Entrepreneurs are in a psychotic state. They're supposed to hold the hat and tell the entire world that they're building a billion-dollar business, but they're the only ones who get to peek under the hat and see that it is essentially dead.""The biggest mistake most founders make is that they don't tell anybody. They're so scared that they don't tell anyone. Worst case scenario, they could have told a few people who might talk to somebody else and introduce them to that person.""If somebody leaves, they lose the shares they haven't earned. If somebody's let go because the other two let them go for any reason whatsoever, they should lose their equity that they didn't earn." Chapters00:00 Introduction and Background02:09 The Role of Lawyers in Startups06:07 The Importance of Distribution and Communication10:21 Founders Agreements and Preventing Conflicts19:19 The Impact of AI on Happiness and Personal Growth29:28 The Future of AI and Prompting HappinessSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson and Ian Myers discuss the topic of hiring global talent. Ian shares his experience of starting a company in Sri Lanka and leveraging the highly skilled workforce there. They also discuss the challenges of scaling service-based businesses and the importance of upskilling and mentoring employees. Ian highlights the benefits of hiring talent from different countries and the opportunities it creates for both the employees and the local economies. They also touch on the challenges of running an international business and dealing with local labor laws and government regulations.  In this conversation, Ian Myers, the founder and CEO of Oceans, and Matt Watson, the founder and CEO of Full Scale, discuss the challenges and strategies involved in running a service-based business. They cover topics such as hiring and firing employees, managing client relationships, and the importance of reputation and referrals. They also emphasize the need for constant evaluation and improvement in recruiting and training processes. Overall, the conversation provides valuable insights into the unique dynamics and considerations of service businesses. TakeawaysHiring global talent can provide access to highly skilled professionals from different countries, creating opportunities for both employees and local economies.Service-based businesses face unique challenges in scaling, but scalable services can be a valuable and profitable business model.Upskilling and mentoring employees is crucial for their career growth and the success of the company.Running an international business comes with its own set of challenges, including dealing with local labor laws and government regulations. Running a service-based business involves managing the challenges and dynamics of working with people.Recruiting and hiring top talent is crucial for the success of a service business.Maintaining a good reputation and strong client relationships is essential.Constant evaluation and improvement are necessary in the recruiting and training processes.Service businesses can be profitable and offer a more predictable income compared to other types of businesses. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Oceans XYZ here:https://oceanstalent.com/ Learn more about Ian Myers here:https://www.linkedin.com/in/ian-myers-2a997852/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"There's talent everywhere.""It's weird to make money.""Scalable services businesses are rare.""We continue to hire 30 to 40 people a month""That's totally normal""The Sri Lankan workforce is much more concerned with 401k health insurance, all the benefits" Chapters00:00 Introduction to Hiring Global Talent02:26 The Potential of Global Talent05:57 Challenges of Scaling Service-Based Businesses09:57 Hiring American Talent vs. Global Talent14:12 Investing in Upskilling and Mentoring19:25 Navigating the Complexities of International Business25:03 Hiring and Scaling in a Service Business28:48 The Importance of Benefits and Work Culture in Sri Lanka33:34 The Key to Success: Hiring and Evaluating Talent40:05 Firing Clients and Protecting EmployeesSee omnystudio.com/listener for privacy information.

Chris Callen, founder and CEO of Plot, discusses his journey in the construction technology industry and the challenges of coordinating job sites. He shares his experience with his first software startup and the lessons he learned from it. Callen explains how Plot's job site coordination software helps streamline the delivery and procurement processes in construction. He also discusses the role of AI in the industry and the importance of building trust with customers. The episode concludes with a conversation about the go-to-market strategy for selling software to general contractors.TakeawaysJob site coordination is a complex process in construction, and software solutions like Plot can help streamline the delivery and procurement processes.Building trust with customers is crucial in the construction industry, as they are often skeptical of new software solutions.AI has the potential to make an impact in construction, but it is still in the early stages of adoption.Trade shows and referrals are effective go-to-market strategies for selling software to general contractors in the construction industry.Find Startup Hustle Everywhere:https://gigb.co/l/YEh5This episode is sponsored by Full Scale:https://fullscale.io/Find out more about PLOT here:https://www.getplot.com/companyLearn more about Chris Callen here:https://www.linkedin.com/in/chris-callen/Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/Sound Bites"Plot is a job site coordination software. Primarily we focus on the coordination of who goes where on the site, talking about all of the material deliveries that are coming from all over the planet really, and that are used to make up of any building.""You obviously need to focus on problem, not solution. We were so infatuated with our solution that we built this, I call it a science project. It was technically pretty amazing. Like what it was able to accomplish was phenomenal, but it didn't solve a business need and it didn't solve something that computed into business value.""Let's get this out there. Let's see what gets the traction. And by traction, I do mean dollars. I don't mean kind words. I don't mean demonstrations. I mean, who's going to pay for this?"Chapters00:00 Introduction to Plot and Job Site Coordination07:34 Lessons Learned from a Software Startup15:10 The Role of AI in Construction19:07 Expanding into Procurement Scheduling25:23 Building Trust with Customers in the Construction Industry29:46 Go-to-Market Strategies for Selling Software to General ContractorsSee omnystudio.com/listener for privacy information.

David Sinkinson, co-founder of AppArmor, shares his entrepreneurial journey and the lessons he learned along the way. He challenges startup myths and emphasizes the importance of finding the right co-founder. The conversation covers topics such as the need for funding, the psychology of being a founder, the evolution of AppArmor's product, the slow sales cycle in selling to colleges, and the impact of COVID-19 on the business. AppArmor was eventually sold for $40 million.  The conversation explores the psychology behind valuations and acquisitions in the software business. It highlights the concept of the 'mighty middle' where businesses sell for millions of dollars, but are not the multi-billion dollar giants. The discussion also touches on the challenges and opportunities of building a SaaS company, the importance of timing in seeking funding, and the benefits and complexities of working with family members. The guest also shares insights from his book 'Startup Different' which offers a chronological account of his company's journey and busts 33 myths about entrepreneurship. Takeaways Challenge startup myths and evaluate what is truly necessary for your business. Finding the right co-founder who complements your skills and provides support is crucial. The evolution of a product is inevitable, and listening to customer feedback is essential for success. Selling to colleges can have a slow sales cycle, but once you gain traction, customer loyalty is high. Adapting to market changes, such as the impact of COVID-19, requires innovation and listening to customer needs. Building a successful business often takes years of hard work and perseverance. The 'mighty middle' refers to businesses in the software industry that sell for millions of dollars, bridging the gap between small startups and multi-billion dollar companies. Building a SaaS company to reach a million dollars in revenue is challenging but doable, while reaching 10 million is a whole different level of difficulty. Timing is crucial when seeking funding, as it's important for the market to develop and understand the product before investing heavily. Working with family members in a business can be successful if there is trust, complementary skills, and effective communication. The book 'Startup Different' provides a chronological account of the author's company journey and offers insights and lessons for young entrepreneurs. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5This episode is sponsored by Full Scale:https://fullscale.io/Find out more about Startup Different here:https://www.startupdifferent.com/ Learn more about David Sinkinson here:https://www.linkedin.com/in/davidsinkinson/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites "We wanted to make sure that entrepreneurs and founders can avoid some of the mistakes that we made." "Funding might actually leave your business worse off than if you hadn't pursued it." "Being a single founder is hard. You need someone to talk to, cheer with, and pick you back up in the low moments." "Most people think of software businesses as being these multi-billion dollar huge sales that happen later coming to nowhere kind of thing." "It's relatively easy to build a SaaS company that gets to a million dollars a year in revenue." "We were extremely profitable, turning a 60% profit by our final year." Chapters00:00 Introduction and Background04:10 The Importance of Finding the Right Co-founder07:05 Evolution of a Product: Listening to Customer Feedback13:09 Navigating the Slow Sales Cycle in Selling to Colleges15:59 Adapting to Market Changes: The Impact of COVID-1918:20 Successful Exit: Building a Business Over Time22:40 Valuations and Acquisitions in the Software Industry25:17 The Importance of Timing in Seeking Funding29:43 Taking the Money and Running31:37 Insights from 'Startup Different' BookSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Dan Kerr from Flyover Capital, discussing the evolving landscape of venture capital in the Midwest, particularly in Kansas City. They explore the importance of networking for founders, the structure of the upcoming Mid-by-Midwest event, and the changing dynamics of funding, including the rise of debt and royalty financing.  Dan shares insights on Flyover Capital's investment strategy, the challenges startups face in revenue generation, and the growing variety of investment options available in the region. The conversation highlights the advantages of the Kansas City startup ecosystem and the role of offshore development teams in modern business. TakeawaysNetworking is crucial for founders looking to raise capital.The Mid-by-Midwest event is designed to connect founders with investors.Debt and royalty financing are becoming more popular alternatives to equity.The VC market in 2024 is more selective and cautious than in previous years.Flyover Capital focuses on investing in undercapitalized regions.Local investors often take on more risk with Kansas City-based companies.Startups need to generate revenue to attract investment.The Kansas City startup ecosystem has evolved significantly over the past decade.There are now more investment options available for startups in the Midwest.Offshore development teams are increasingly common among startups. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Flyover Capital here:https://www.flyovercapital.com/ Learn more about Dan Kerr here:https://www.linkedin.com/in/dankerrkansas/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"How much money you got for us today?""This is year number three.""It's a nightmare to reach out to all these different VC companies." Chapters00:00 Introduction to the Midwest VC Landscape03:05 The Importance of Networking for Founders05:58 Event Format and Structure09:06 Understanding Debt and Royalty Financing11:57 The Changing VC Market in 202415:05 Flyover Capital's Investment Strategy18:01 The Role of Local Investors21:10 Challenges for Startups in Revenue Generation23:59 The Evolution of the Kansas City Startup Ecosystem27:00 The Growing Variety of Investment Options29:51 The Value of Offshore Development Teams33:05 Conclusion and Event DetailsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Michelle Denogean, the Chief Marketing Officer of MindTrip and author of the book 'Grow Up.' They discuss the challenges that founders face when growing their companies and the importance of having a diverse team with different superpowers. Michelle introduces four superpowers: innovator, builder, connector, and persuader, and explains how each one contributes to the growth of a company. They also talk about the blind spots that come with each superpower and the need for self-awareness and trust in delegating tasks to others. Michelle offers advisory services to help founders reflect on their leadership styles and guide them in building the right team and positioning their brand.TakeawaysThe superpowers of founders are not always the same as the roles they play in their companies.Each superpower comes with its own blind spots and weaknesses.Successful growth requires embracing the strengths of others and building a diverse team.Self-awareness is crucial for recognizing blind spots and understanding the value of different superpowers.Trust is essential in delegating tasks and empowering team members.Having the right people around you is the key to overcoming challenges and achieving growth.Reflecting on your own leadership style and understanding your weaknesses can help you become a better leader.Pivoting and adapting to market needs is important for the success of a startup.The cure to startup failure is the people you have around you.Being aware of your own strengths and weaknesses can help you make better decisions and focus on what you truly enjoy.titlesFocusing on Your Strengths and Enjoying the JourneyThe Importance of Pivoting and Adapting to Market Needs Find Startup Hustle Everywhere:https://gigb.co/l/YEh5This episode is sponsored by Full Scale:https://fullscale.io/Find out more about Mindtrip here:https://mindtrip.ai/ Learn more about Michelle Denogean here:https://www.linkedin.com/in/michelledenogean/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"The superpowers of founders are not always the same as the roles they play in their companies.""Successful growth requires embracing the strengths of others and building a diverse team.""Trust is essential in delegating tasks and empowering team members."Chapters00:00 Introduction and Overview11:48 The Superpowers of Founders and the Challenges of Growth18:37 The Importance of Building a Diverse Team with Different Superpowers25:18 Recognizing Blind Spots and Embracing the Strengths of Others30:08 The Role of Trust in Delegating Tasks and Empowering Team Members35:01 Overcoming Challenges and Achieving Growth with the Right People38:16 Reflecting on Your Leadership Style and Understanding Your Weaknesses38:40 Becoming a Better Leader Through Self-Awareness and ReflectionSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Markus Waite, the President of Empara and CIO of Goodroot, about healthcare technology. They discuss the challenges and complexities of the healthcare industry, the role of generative AI in simplifying healthcare processes, the high cost of healthcare in the United States, and the need for transparency and cost-saving solutions. Marcus also shares insights into the work of Goodroot, a company that focuses on solving healthcare problems through innovative solutions and a portfolio of affiliate companies. TakeawaysHealthcare is a complex industry with many systems and processes that need to be reinvented to improve the overall experience.Generative AI has the potential to be a game-changer in healthcare, simplifying processes and providing curated responses to help individuals navigate their healthcare journey.The high cost of healthcare in the United States is a significant challenge, and there is a need for transparency and cost-saving solutions.Goodroot is a company that focuses on solving healthcare problems through innovative solutions and a portfolio of affiliate companies. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5 This episode is sponsored by Full Scale:https://fullscale.io/ Find out more about Empara here:https://www.empara.io Learn more about Markus Waite here:https://www.linkedin.com/in/markuswaite/ Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/ Sound Bites"Our mission is reinventing healthcare one system at a time.""Generative AI is a game-changer. We've officially drank the Kool-Aid.""The high cost of healthcare is a significant challenge, and there is no incentive to make it less expensive." Chapters00:00 Introduction to Marcus Waite and Goodroot02:15 The Evolution of Healthcare Technology06:38 The High Cost of Healthcare in the United States10:12 Empowering Employees to Make Informed Healthcare Decisions16:56 Overview of Goodroot and its Innovative Solutions21:08 Selling Healthcare Technology Solutions23:03 Building Technology in the Healthcare Industry30:13 The Need for Transparency and Cost-Saving SolutionsSee omnystudio.com/listener for privacy information.

In this episode, Matt Watson interviews Keith Harrington, the founder and COO of Novel Capital, about non-dilutive capital and alternative funding options for startups. They discuss the different types of capital available, such as revenue-based financing and venture debt, and the importance of understanding when and how to raise money. Keith emphasizes the need for entrepreneurs to have access to information, capital, and tools to make informed financing decisions. They also touch on the risks of raising too much equity and the benefits of practical, sustainable growth. Takeaways- Non-dilutive capital, such as revenue-based financing and venture debt, provides alternative funding options for startups.- Entrepreneurs should carefully consider their use of funds and choose the right type of financing that aligns with their growth plans.- Raising too much equity can lead to high valuations and potential dilution of ownership, making it important to be mindful of the long-term implications.- Understanding the repayment structure, cost of capital, and potential risks associated with different financing options is crucial for making informed decisions.- Tools like Novel Capital's venture match can help entrepreneurs connect with equity investors based on their underlying business dynamics. Find Startup Hustle Everywhere:https://gigb.co/l/YEh5  This episode is sponsored by Full Scale:https://fullscale.io/  Find out more about Novel Capital here:https://novelcapital.com/ Learn more about Keith Harrington here:https://www.linkedin.com/in/keithharringtonkansas/  Sign up for the Startup Hustle newsletter:https://newsletter.startuphustle.xyz/  Sound Bites"The most important part of it is actually sales and marketing.""Let's just start with what are you trying to accomplish. And then let's point you to the product that makes the most sense.""Most people don't think about the downside of all of those." Chapters00:00 Introduction and Overview03:10 Understanding the Service Offering and Target Audience05:48 The Creation of Tools to Assist Entrepreneurs08:17 The Importance of Sales and Marketing in Building a Business10:08 The Challenges of Traditional Banks and the Need for Alternative Financing12:02 Exploring Different Financing Options and Use Cases15:13 The Role of Introductions to Venture Capital Firms17:50 The Shift in Mindset Regarding Raising Venture Capital20:35 The Risks of Raising Too Much Equity23:30 The Benefits of Practical Growth and Bootstrapping25:14 The Availability and Accessibility of Debt Financing29:01 The Differences Between Debt Financing and Equity Financing31:23 Considerations and Red Flags When Choosing a Financing Provider34:00 Novel Capital's Tools and Venture Match PlatformSee omnystudio.com/listener for privacy information.

Christian Hammer, founder and CEO of Vala AI, shares his expertise on AI in software development. He delves into the nuances of technical debt, emphasizing how it hinders productivity and the need for clearer definitions. Christian discusses the challenges of aligning business goals with tech solutions and how effective communication can bridge these gaps. He argues that off-the-shelf software often adds to tech debt. Lastly, he treats AI as an emerging resource in development, akin to a junior engineer, and stresses the importance of understanding roles in software teams.