The SouthFound Startup Podcast
By SouthFound Media
Advice, interviews, and news from entrepreneurs and startups from the Southern United States and around the world.
Looking for a community of like-minded entrepreneurs? Check us out at SouthFound.com
The SouthFound Startup PodcastSep 22, 2020
How to Start a Business - Steps Included
Knowing how to start a business can be confusing. In fact, just this week I have been working with an entrepreneur from Bulgaria. Our work together has identified that there is virtually no one (never say 100% no one) doing exactly what his business model intends to do. There are some companies doing pieces of his business model who I consider indirect competitors. Which means that he will need to scale quickly in order to keep those competitors at bay.
After finishing our first project together, a feasibility study, he admitted to me that he wasn't entirely sure what steps to do next. He had a few steps in mind but just wasn't completely sure about the order he should follow.
This is a pretty common question that new entrepreneurs have. They just aren't sure the steps to follow in starting a business. So, I thought I would lay out the process we follow here at SouthFound with our ideation-stage clients.
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Link to the document from step #1 - sbmp.southernstartups.com
If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking for guidance for your startup or business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
A Business Plan has Two Main Purposes
Business Plans are not always necessary for a startup. In fact, in many instances startups that are at the ideation or pre-revenue stages need to produce different documents.
But business plans do serve two main purposes. The key is knowing your audience and then writing to fulfill the purpose of that message.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking for guidance for your startup or business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
Feasibility Study or Business Plan?
There are a variety of documents that can be used in the planning process for a venture.
While most companies can benefit from developing any of these documents the stage of growth your business is in often times determines which document your business would benefit the most from.
For example, ideation-stage startups should focus on the business model canvas or lean startup canvas and then develop a pitch deck that tells the story of their idea. Whereas more established businesses benefit from developing business plans.
However, both can benefit from a well-researched feasibility study.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking for guidance for your startup or business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
What is a B Corp?
On today's episode we talk about what a B Corp, or Benefit Corporation is as well as the goals of a B Corp and the benefits.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking for guidance for your startup or business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
Startup investors should be respected, not worshipped
Last week I was listening to the Wharton Fintech Podcast and host Miguel Armaza interview Craig Lewis of GigWage. During that episode Craig made the comment that many entrepreneurs worship the ground that investors walk on. He even made a solid case that it is the entrepreneurs who create opportunities for the investors and not the other way around.
I tend to agree with Craig's assessment. If you take the discussion a bit further it makes sense. So, bear with me.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking for guidance for your startup or business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
Want to Be An Entrepreneur-In-Residence?
There are a wide variety of ways to have a career in the startup industry. Most people get their exposure to the industry as the founder of a startup. For those lucky few that are able to have a success career many leap from the role of startup founder to startup consultant. One role that is common for successful founders to take is that of an Entrepreneur In Residence.
To apply head here.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
Is Acquisition Entrepreneur Your Next Career?
There are a variety of ways to scale a business. Organic growth, or growth from internal sales activities, is one of the least costly ways to scale. For example your company might use social media ads to attract new customers and landing pages to convert them to paying customers. That is organic growth. Another, more costly, way to grow a business is to acquire another company. That is, to make an acquisition. So, what is acquisition entrepreneurship?
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show. Looking to network with other entrepreneurs and startup founders?
Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
Could another round of PPP loans be coming?
In response to the impact of the coronavirus on businesses the U.S. government deployed hundreds of millions of dollars through what became known as the Paycheck Protection Program or PPP. The program provided loans to businesses at 1% interest and they were eligible for 100% forgiveness.
The program stopped taking application on August 8th of 2020. But a proposal has been submitted to Congress for another round of PPP funding.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
How to find U.S. startup investors if you live in another country
If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
What % of equity should you give a startup investor?
Giving up equity in your startup can be tough for some startup founders. The challenge is that if your model is one that requires significant capital in order to scale then you will need investors no matter what.
So, how much equity should you plan on giving up to a startup investor? Particularly during the seed round stage?
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
S1E4 Why Startup Investors Like Certain Industries
Startup investors tend to have industries that the prefer to invest in. There are a variety of reasons for that.
Today I share with you some of the reasons and how you can use that information to improve your fundraising activities.
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more here.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
S1E3 AHA! Moment Series - Entrepreneurs tend to fall in love
I'm back with my lessons, or AHA! Moment, that I have learned in my 10+ years of entrepreneurship and startups.
Today, after conversations with a lot of other entrepreneurs, I am sharing one of the mistakes I see creators repeat over and over again.
As always, thank you for the support. If you are excited about this podcast would you do us a favor and share it with someone you know that would also be excited about the podcast?
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
S1E2 AHA! Moment Series - Entrepreneurship Isn't For Everyone
Why on Earth would I start out a podcast with an episode questioning entrepreneurship?
Because, the reality is that entrepreneurship and the startup industry is really, really tough.
In fact, I have heard it said that it is usually takes an entrepreneur three or four businesses before they have any degree of success.
So, before you rush off all excited about your latest idea I want you to make sure that you understand what you are getting into.
Because entrepreneurship is a wild ride. But it can be a rewarding one as well.
As always, thank you for the support. If you are excited about this podcast would you do us a favor and share it with someone you know that would also be excited about the podcast?
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.
S1E1 Don't Call It a Podcast Comeback
Welcome back to the SouthFound Startup Podcast.
If you are a former listener or part of the SouthFound community then you might remember that we ran the podcast for 6 seasons over 2.5 years.
Well, to be honest, somewhere along the way we lost sight of why we had a podcast in the first place.
So, after some soul searching...we are back!
I hope you will join us. The plan is to release short form content every Tuesday and Thursday with every fourth episode being an interview with an entrepreneur or startup founder whose story we think you will benefit from. Other episodes will include advice, best practices, and tips for launching and growing your business.
As always, thank you for the support. If you are excited about this podcast would you do us a favor and share it with someone you know that would also be excited about the podcast?
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If you know of a startup founder whose story would make for a good interview on the podcast please send them here to be featured on the show.
Looking to network with other entrepreneurs and startup founders? Join our Slack community. Learn more.
Finally, are you looking for a coach that can help you grow your business? Our team includes former C-level banking executives, 3x startup founders, business consultants that have grow companies form $3M to $75M, and more. Learn more about what we do.