Five Pieces of Advice for Founders from TechCrunch’s Found Podcast
Founders should lean into what they aren’t good at
While many of the founders talked about finding co-founders or making early hires who helped fill their experience or knowledge gaps, Rippling co-founder and CEO Parker Conrad thinks founders should do the opposite.
Conrad called the practice of hiring people to fill roles a founder isn’t good at, or doesn’t want to do, “bullshit.” He suggests that founders should find the things they hate within their company and focus on them, as they are the things that are most likely to kill them.
VCs aren’t always right
While the right venture capitalist can provide invaluable insight and guidance to a startup, good VCs are hard to find, and even the best VCs don’t always have the best advice for every startup.
Ashley Tyrner, the founder and CEO of FarmboxRx, a direct-to-consumer produce box company, shared her experience with VCs who wanted her to pivot to being a meal kit company, which she ignored and instead bootstrapped the company.
It pays off not to be first
Many companies tout being the “first” to a technological innovation or new market, but is being first always the best thing? Jordan Nathan, the founder and CEO of non-toxic homeware company Caraway, doesn’t think so. He believes launching last allowed his company to find gaps in the market and cater to those audiences directly.
Companies should try to get to market right away, regardless of their long-term goals
While some startups build software that can start acquiring customers and making money quickly, others, like deep tech or moonshot companies, may not be able to do the same. However, this doesn’t mean they have to wait years to make any money.
Joe Wolfel, the co-founder and CEO of Terradepth, a company building autonomous drones to map the ocean floor, shared his company’s approach to setting up revenue streams, even before its autonomous drones are ready for market.
Don’t forget to build a company around your product
When a startup is just getting off the ground, founders are often focused on building a product and getting it to market. However, it’s important not to forget to build the actual company around the product too.
Gavin Uberti, the co-founder and CEO of chipmaker Etched, shared a story about not setting up employee benefits early on, which caused a problem for one of his employees.
Conclusion
These five pieces of advice from TechCrunch’s Found podcast offer valuable insights for founders to consider, from leaning into what they’re not good at to building a company around their product. By taking these lessons to heart, founders can set themselves up for success and build a strong, sustainable company.
FAQs
Q: What does it mean to “lean into what I’m not good at?”
A: It means focusing on the areas where you’re not strong, rather than trying to fill gaps with others. This can help you build a more well-rounded company.
Q: Are VCs always right?
A: No, VCs are not always right. In fact, even the best VCs may not have the best advice for every startup. It’s important to do your own research and make informed decisions.
Q: Is it always better to be first to market?
A: No, it’s not always the case. Being first to market can be a double-edged sword. Being last to market can allow you to learn from others and fill gaps in the market.
Q: How can I get to market quickly without sacrificing quality?
A: It’s a balance. Focus on setting up revenue streams early on, and don’t be afraid to pivot if things aren’t working out. It’s better to learn quickly and adapt than to wait too long.
Q: How can I build a company around my product?
A: It’s important to think about the company as a whole, not just the product. Make sure to set up employee benefits, plan for scalability, and prioritize building a strong team.
