Founder Fridays No. 54
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Founder Fridays No. 54
Helping startup founders and operators scale smarter.
Happy Friday!
As I've touched upon in recent weeks, I'm on the verge of launching an AI assistant tailored for startup law named Ace. Here are 3 ways to learn more:
Here’s a video of me explaining what Ace is and why I created it.
Get on the waitlist here.
We still have a few slots left for the launch party next Friday. So, if you’re in New York, sign up here.
Management Mistakes
Here are some common management mistakes: 1) Only Managing Down. Managers should not solely focus on coaching and supporting their direct reports but also consider the broader aspects of the role, including business success, right-sizing workloads, stakeholder management, managing up and managing out horizontally. 2) Helicopter Management. Overmanaging and coddling team members may hinder their growth and autonomy, preventing them from learning important lessons and taking risks. 3) Incomplete View of the System. Managers should develop systems thinking and consider the complex organizational systems their decisions impact rather than jumping to conclusions about other managers' actions. charity.wtf (11 minutes)
Effective > Productive
When people focus on productivity, they end up focusing on being busy. Filling every moment with something to do. A shift from a productivity mindset to an effective mindset will have you asking different questions. How little can we do? How much can we cut out? Instead of adding to-dos, add to-don’ts. Being productive is about occupying your time — filling your schedule to the brim and getting as much as you can. Being effective is about finding more of your time unoccupied and open to new ideas and experiences. Jason Fried (2 minutes)
Filtering Advice
As a founder, you get advice from a ton of people. So, how do you know what to accept and what to reject? Here are some thoughts: 1) The best advice doesn’t come as a barrage of statements but rather from a series of questions, asked by someone playing devil’s advocate. 2) “This is how it’s done” is almost never a good reason. 3) It’s easy to cut down ideas; it’s hard to create and execute them. Look for advice with a clear method for implementation and a clear path for results. Smart Bear (6 minutes)
Founder FAQ: I’ve currently got a day job. Can I start working on my startup as a side hustle?
While it may be tempting to work on your new startup idea while still employed, doing so may lead to conflicts of interest and other legal issues, especially if it’s in a related industry. Consequently, it is always better to leave your current role before starting a new company. If you decide to remain in your current job while starting a new company, there are several complicated issues you must consider, ideally with the assistance of legal counsel. These include: (1) Understanding whether you are allowed to conduct outside activities and what the limitations are. (2) Understanding how your non-solicitation clause limits whom you can work with. (3) Understanding how your non-compete clause limits the type of work you can do. (4) Understanding what is (and is not) considered the company’s confidential information. (5) Understanding what is (and is not) considered the company’s inventions. (6) Understanding how you should use (or not use) company resources. Westaway (5 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.
Convertible Note: Guide / Video
Move Fast. Don’t Break Things.
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.
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