Gregg Scoresby’s Post

I have attended at least a dozen pitch deck feedback sessions, shadowed some amazing founders and talked to a few investors and founders, to get feedback on my start-up. Here's what I've figured out: I've always wanted to start my own business, and now that I'm here, it's definitely tougher than I thought. But heyy who does not love a good challenge? - Not everyone will like your idea or you, so stay positive and keep going. - Be open to feedback and criticism from people who have been there before, but don't let it demotivate you. Six months ago, I knew nothing about the startup world, but now I've gained a lot of knowledge and opportunities are opening up. You'll find opportunities when you work hard and go after them. - It's crucial to have a growth mindset. Don't be the smartest person in the room; surround yourself with smarter people so you can learn and grow. - Master small talking skills. SO IMPORTANT! So yeah, 😁 I'm open to any experienced founder or investor who wants to take me under their wing and be my mentor.  #startups  #femalefounders  #startupjourney  #investorconnect  #founders  #foundersjourney

Another Monday has rolled around, so it is time for another #MondayShoutOut This week, the shout out goes to someone who does so much for the #startup ecosystem around the world. Let me introduce you to Kayode Odeleye. Kayode is the founder of a tech startup, Caena, which helps founders with their financial models and helps connect them with investors. Kayode knows the pain of being a startup founder. He also acts as a fractional CFO for early stage companies, and he supports VCs and investors through financial due diligence into potential portfolio companies. To call him the best out there, does not do him justice...Kayode is a legend. The first fractional CFO I would recommend to any startup founders, and the safe pair of hands for investors to turn to. I am also glad that Kayode and I are partnering together to help VC backed companies get an exit earlier that maybe excpected, when the growth has slowed, in order to provide liquidity and returns to investors and the founders. Reach out to Kayode to chat if you need help with your startup financials, or want someone to run the financial DD before you invest. Or connect either of us if you want to learn how we are helping VC backed companies whose growth has slowed get an exit. #Founders #VCs #fractionalCFO

I’m a two-time founder (one exit) and have invested in over 25 founders. Here are the biggest differences I see between first-time founders and experienced ones 👇🏻 First-time founders: - Change strategy after each board meeting based on investor feedback - Equate "scaling" with "hiring" - Chase the highest valuation over the best terms - Believe "having traction" means being featured on Forbes - Obsess over investors Experienced founders: - Build lean, highly efficient teams - Understand that scaling means gaining more paying customers in a repeatable way - Prefer a lower valuation with the right terms to maintain control - Realise that building a meaningful company takes years - Obsess over their customers Experienced founders understand this is a long game and keep their team and customers at the heart of everything. I’m curious to hear from founders of all experiences; what do you think of the list above? #Startups #Founders #Cofounder #StartupGrowth 

It's better to have 1% of a rocketship than 100% of a small business. This is advice that countless startup founders swear by. I was one of them too. But it's not good advice. How do you build a rocketship? - Be at the right place at the right time. Too early and you won't take off, too late and you'll be an also-ran - Scale 5-10x every year for years - ethically - Consistently hire the best talent in large numbers, keep them motivated and retain them despite better offers from others - Raise funding over 8-10 rounds at increasing valuations to keep growing and ensure your stake doesn't get wiped out in a down round - Make ever-larger bets at every stage to satisfy growth expectations - and get them right each time - Replace your top team if they aren't keeping up, irrespective of friendship or loyalty - Get to IPO or a large exit just when the market is hot or stay in limbo for years waiting for the right time - Post IPO, almost immediately switch from growth to profitability mode (while maintaining growth) to satisfy public market expectations - Continue to grow valuation for years after so you can sell down your stake in small tranches that won't send your company shares crashing on news of large insider sales - Keep the trust, loyalty and board votes of your investors and cofounders through this entire process so you stay in charge What is the probability you will thread this needle? Almost zero. In all of SE Asia, a region home to thousands of startups, there have been a handful of recent IPOs, and many of those have also taken a beating in the public markets. On the other hand, there are plenty of fully-owned, thriving, multi-million-dollar businesses where the owners hold 100%. 100% of $10 million = 1% of $1Bn. Just with higher probability and lower stress. So before you go down the VC route, ask yourself: Is this a life you can sustain? Will it be worth it? #startup #vc #founders

𝐀𝐬𝐩𝐢𝐫𝐢𝐧𝐠 𝐕𝐂𝐬 - 𝐈'𝐦 𝐥𝐚𝐮𝐧𝐜𝐡𝐢𝐧𝐠 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐒𝐏𝐄𝐂𝐈𝐀𝐋 𝐬𝐨𝐨𝐧 🪄 Completely upleveling my VC insights. Want to be the first to know? Sign up below! Early, loyal supporters will get a special surprise from me* 🙌🏼 1. Like & comment if you're interested 2. Submit your email for early access via airtable in comments 3. Reshare for other aspiring VCs Let's do this!! Submit here! https://lnkd.in/gtVun8f9 *𝑃𝑜𝑡𝑒𝑛𝑡𝑖𝑎𝑙𝑙𝑦 𝑎 𝑙𝑖𝑣𝑒 𝑐𝑜𝑛𝑣𝑒𝑟𝑠𝑎𝑡𝑖𝑜𝑛 𝑤𝑖𝑡ℎ 𝑚𝑒 🤫 #venturecapital #startup #founder #recruiting

Big News: I've become #CEO of our #Contech startup Buildstock; the company, Kathryn Thiele AIA CSI & I Co-Founded in early 2022. Foremost I want to thank Kathryn Thiele AIA CSI; our teams & #investors for their trust. We remain a MWBE company! Several months back, Kathryn, asked if I would take on that role of CEO & formalize under that title the many of the responsibilities I already had. We've gotten to where we are, because Kathryn & I, are a great team & have the complimentary skills that allows us to solve problems & execute well. This is not easy to do at a #startup. We made that transition last month. As #founders we're always working to align ourselves to our goals & optimize for our skilks/experiences, within the context of a business cycle & in ways that create the most value to the company, #employees, #customers & #shareholders. Kathryn is amazingly talented, smart, with unique relevant skills within our industry, an amazing spirit, respected by architects, construction developers & materials industry suppliers. I came out of retirement to work with her January 2022. I'm now furthering that commitment to her & the company again. Founders need to keep focus on finding ways to grow, create momemtum, solve measurable problems, grow our culture, deliver value to our customers & get to the next stages of the business. All while building a best in class team, with a strong #culture. We agreed that me beoming CEO, was one of the tools & ways to doing so. I'm grategul for the trust, respect & opportunity Kathryn is given me, to lead the company. Kathryn is 200% committed to the company everyday; active & responsible for the many areas she has the most knowledge, skills, know how, network & impact on. We will continue to work side by side, as we have, everyday for the last 608 days in a row now! We have an exciting #roadmap ahead tied to our #marketplace, #fintech services & #SaaS offering in the future. We have seen a lot of exciting progress in our tech execution & delivering measruable value to customers.

Airbnb's co-founders met every single week since 2009. Why? 65% of startups fail due to co-founder conflicts. Your co-founders need to be… - People you can be friends with. - People you can debate with 1000 times. - People who can intimidate and challenge you. - People you can spend more time with than anybody. And so even if you debate multiple times a day… It will never be about winning over the other. It’s about working together as a team. And the ingredients for a good team: - Constant contact - Constant connection - Deep sense of respect - Humility and gratitude Let me add to the recipe: + Mutual accountability + Shared vision & alignment + Trust and open communication In a way, having a co-founder is a lot like marriage. How often do you meet with your co-founders? Pundi Narasimham Michael Trigg

Exciting times for startups in the investment landscape In the midst of summer slowdowns, it's inspiring to witness startups securing funding rounds when they're truly ready. Recently, I've seen three remarkable companies successfully close their rounds thanks to their solid metrics, seasoned teams, and unwavering support from early investors One key takeaway? Trust in your lead investor matters When you have backers who believe in your vision and have a track record of support, it sets the stage for future success. It's not just about the money, it's about the partnership As a founder, it's natural to navigate through challenging markets and timing hurdles. But what's truly heartening is witnessing lead investors and previous backers stepping up, doubling down on their commitments. It's a testament to the strength of the relationships built within the startup ecosystem So, as we navigate these dynamic times, remember, Would you rather bet on an uncertain future or invest in a proven winner? The choice seems clear. Let's continue to back our own, fueling innovation and growth in the process Thoughts?

$0.00 Founders _____ When I meet a founder at the super early stage (i.e. pre-product), I always try to apply the $0.00 test. What has this founder accomplished with zero dollars? How far will this founder go from here if they raise zero dollars? Sometimes I meet early-stage founders at PHX Ventures who think raising capital is a pre-requisite to getting the next thing done in their startup. They seem stuck. They make no substantive product or customer progress between our conversations. They don't score well on the $0.00 founder test. Other times I meet early-stage founders who would like to raise capital to make a few key hires and accelerate growth, but they continue to get a lot done every single day with zero dollars. These founders seem to be able to drive their cars much faster and farther on an empty tank than anyone else. Their obsession and drive are their fuel. These founders ace the $0.00 founder test. Sometimes the $0.00 founder never needs capital to do what they want to do. And like I always say, if you can bootstrap your way to $100m in ARR, you should do that. But 99% of $100m ARR companies need venture capital to get there. What I want most is to find the $0.00 founder who is all-in on building a $100m ARR business and has the savvy to recognize that they need a little outside capital, expertise, and support along the way to get there. ____ PS - Shout out to all the $0.00 founders in PHX. Keep driving that car on fumes if you have to. You can go farther and faster than you realize. #saas #b2b #founders #venturecapital

Founders out there - the journey is HARD! One hour you're looking at burn and trying to get creative, then next you're celebrating because your new website generated its first lead. Remember, you don't have to carry the burden alone - the team or your advisors or your investors at an early stage startup knows they joined a high risk venture. Sometimes you just have to lean in and open up. The right people will be there when you just need to vent. #startuplife #founderstories