Sep 4, 2019
Transparency, Investment, and Struggle - with Rand Fishkin
Rand is an author, founder, recent founder/ceo of
SparkToro. His book "Lost and Founder" is one that I wish I
would have been able to read before we started Catalyst Sale.
This episode has a fair amount of range, we cover a number of
topics including investment, learning, diversity, and struggle.
Thank you Rand for the awesome discussion.
Questions Discussed
- Do
Founders feel like they are the only ones struggling with their
problem?
- Why
should Founders not think that the organization who is going to
provide some funding has their best interest at heart?
- How
do you explain the different types of investment?
- Is
there something you can do to help inspire curiosity?
- Where
does diversity play in all of this?
- How
do the MVP and EVP concepts apply to intrapreneurs?
Key Takeaways
- When
Founders take capital or attempt to raise capital, they don’t fully
understand the mechanics of the investors from which they are
raising and they don’t understand how priorities can shift from
year to year.
- VC is
kind of a default for a lot of Founders when it probably shouldn’t
be.
- Only
20% of capital firms that beat the market
- This
changes the fundamental incentives of what you need to do as a
business
- It
enforces the importance of communication, transparency and
alignment
- Sometimes the story you want to tell, isn’t the
one they want to hear
- I
cannot think of a good reason to intentionally impair the most
important part of your job which is decision making
- Find
four or five people that you have a connection with who do the same
work as you, but are not directly competitive and ask if you can
join an e-mail/slack/what’s app group to share your
experiences
- There
is a ton of opportunity in doing some extra work in order to get a
better outcome
- If
you know you are going to launch to a large audience, don’t launch
until people are truly impressed
Show Links
Call to Action
What processes, roles, systems, do you want to "blow-up" in your
organization? Let us know via twitter, facebook or LinkedIn.
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