Becsi provides advice on going from startup to a complete company with customers, employees, investors, partners, and systems.
- Guest: Stephen Becsi, Executive Director at Appellon (and CEO of Apollo Care)
- Host: Anil Hemrajani, Founder of Startup Sidekick
- Start thinking early about how you will raise money (e.g. VC, friends & family); start getting out there and begin building relationships. Working capital might be not enough for scaling a startup.
- Your idea must absolutely be unique to differentiate yourself from your competitors.
- In order to execute a strategy successfully you need systems/processes and culture.
- 01:40 – Overview of Appellon: measure culture of organizations, hard measure of culture against performance using a SaaS platform.
- 02:20 – The genesis of a great idea for Appellon. Becsi didn’t have a KPI (“hard number”) for culture…even though “culture eats strategy for breakfast.”
- 04:25 – What does scaling up mean for startups? You need to build a scalable company: have a MVP, backers, surround yourself with the right people (e.g. fundraising).
- 05:33 – What about marketing timing? In order to execute a strategy successfully you need systems/processes and culture.
- 08:45 – How did you pay for your product? We paid for our MPV with working capital, some money from CEOs and channel partners (e.g. Big Four accounting firms). It’s hard to scale your startup with just working capital. Also, valuation of startups is an art, not science.
- 14:25 – Takeaways (see above).