Founder Fridays No. 22
Practical tips to help founders scale smartly.
Happy Friday.
This week’s briefing will focus on management. I hope it helps you improve your relationships both inside your company as well as in the startup ecosystem.
Becoming Insanely Well-Connected
Though his day job is serving as a partner at First Round Capital, Chris Fralic is also known for helping launch TED, the famed online public speaking series. Twenty-four years later, Fralic still has time to thoughtfully respond to over 10,000 emails every year. Why? He prioritizes making memorable connections with this thought process: 1) Convey genuine appreciation. 2) Listen with intent. 3) Use humility markers. 4) Offer unvarnished honesty. 5) Blue-sky brainstorm. 6) End every meeting or conversation with the feeling and optimism you’d like to have at the start of your next conversation with the person. 7) Don’t fake it till you make it. First Round Review (21 minutes)
Great 1:1 Meetings
If you’re involved in cross-functional work, it’s easy to fill your calendar with 1:1 meetings. The problem is that most of us have no idea how to make them useful, so we end up with a bloated calendar full of ineffective conversations that we dread. But these four meetings make better use of your time: 1) Introductory. Focus on relationships. 2) Manager. - Focus on personal progress. 3) Recurring functional. Focus on alignment. 4) Ad hoc. Focus on decision making. Reforge (14 minutes)
Founder FAQ: What Is a Down Round in Startup Funding?
A down round is a round of financing in which the company is valued lower than the previous round. They’re generally seen as a sign that the company is not doing well, so they should be avoided if possible. However, there are times when a down round is crucial for a startup to survive. Westaway (6 minutes)
Startup Funding Guides
I’ve put together a series of guides to equip founders to excel at fundraising. These guides break down the deal term by term and give you negotiation tips so that you can speak to investors with confidence.
Should We Work Together?
Hi! I’m Kyle. This newsletter is my passion project. When I’m not writing, I run a law firm that helps startups move fast without breaking things. Most founders want a trusted legal partner, but they hate surprise legal bills. At Westaway, we take care of your startup’s legal needs for a flat, monthly fee so you can control your costs and focus on scaling your business. If you’re interested, let’s jump on a call to see if you’re a good fit for the firm. Click here to schedule a 1-on-1 call with me.