Founder Fridays No. 24
Practical tips to help founders scale smartly.
Happy Friday.
This briefing is focused on growing your startup.
Amplify Company’s Specialty
Slack was acquired for $27 billion, is used by more than 30,000 teams and its Twitter Wall of Love is a founder’s dream. But how did this startup launch with enviable momentum and continue to win users' hearts? Founder Stewart Butterfield says the company did a few things: 1) Made customer feedback the epicenter of its efforts. 2) Taught users why they needed this product. 3) Made active listening their core competency. 4) Amplified what made their company special. 5) Calculated its magic number and verified what its metrics mean. First Round Review (16 minutes)
Growth to Win
In a company’s final quarter each year, they’re analyzing historical data, reverse engineering results, gathering learnings and scaling what's already known inside their scope of actuation to make the next year better. However, growth teams can do none of the above. Why? It’s hard to plan the future based on no past. But growth teams can focus on another plan: the W framework—a four-step process focusing on context, plans, integration and buy-in. Growth Hackers (5 minutes)
Founder FAQ: What Is A Convertible Note and How Does It Work?
A convertible note, also called convertible debt, is a loan (debt) from an investor that may be converted into stock in the company (equity). Their most crucial provisions are principle and interest, maturity, and conversion. Westaway (7 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 aflat, 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.