Stuck? Time to Improv! The Startup Launchpad

Social Media Mistakes to Avoid with Heather Havenwood, Haven Media

Social Media Mistakes by Startups

Heather identified two major social media mistakes startups make: not having a clear spokesperson, especially for larger companies and tech firms, and failing to align their messaging with what resonates with their audience rather than just explaining their technology.

Tech Sales Messaging Best Practices

Heather discussed common mistakes tech companies make in their sales messaging, emphasizing the importance of understanding their target audience and articulating their value proposition effectively. Mary agreed, highlighting the need to focus...

https://www.impactcfo.net

Family Business Challenges with Lowell Mora from Impact CFO

Family Business Challenges Discussion

Lowell discussed the unique challenges of family businesses, highlighting that the family aspect creates complications regardless of the number of family members involved. He shared his personal experience of being advised against working in family businesses but eventually being drawn back to them. Lowell noted that in family-owned businesses, the enterprise often serves as both the business owner's and the family's livelihood, with some challenges being generational in nature.

Family Business Identity and Ownership<...

Networking Tips with Mary Scott, PitchSTL

Startup Networking Strategies Discussion

Mary discussed the importance of networking and follow-up for startups seeking customers and investors. She emphasized that in-person networking is more effective than Zoom, and highlighted the value of leaving contact information, particularly through LinkedIn. Mary also shared a strategy for introverts to initiate conversations by asking others about themselves, which helps build connections and gather valuable information about potential networking contacts.

Networking Follow-up Strategies

Mary explained the three key components for effective follow-up after networking: Information (sharing useful links or...

https://businessriff.com

Dan Lauer from Maryville University talks about Tips for Veteran Startups

Veteran Entrepreneur Funding Challenges

Mary discussed her podcast "Stuck? Time to Improv" with Dan Lauer from Maryville University, focusing on challenges faced by veteran entrepreneurs. Dan identified early-stage capital as a key challenge, noting that while there are good education and networking programs available, veterans often struggle to access funding for equipment and business setup. He emphasized the importance of accelerator programs like Techstars and Y Combinator, which provide not just capital but also resources such as intern support...

https://businessriff.com

Tina Kadish, From Job to Joy, talks about Entrepreneur Mindset

Developing Entrepreneurial Mindset for Startups

Mary and Tina discussed the importance of developing an entrepreneurial mindset for startups. Tina explained that transitioning from a corporate career to entrepreneurship requires shifting from following others to taking control of one's life and business. She emphasized that an entrepreneurial mindset is crucial for embracing uncertainty and maintaining a growth mindset while building a business.

Types of Entrepreneurs Discussion

Mary discussed three types of entrepreneurs: those born to be entrepreneurs...

https://OpenPrairie.com

Jim Schultz from Open Prairie talks about Funding AgTech Startups

Agricultural Tech Investment Discussion

Mary welcomed attendees to the "Stuck Time to Improv" session and introduced Jim Schultz, an investor, as the guest speaker. The discussion focused on the agricultural tech industry, highlighting its potential for startup businesses and the importance of preparation when approaching investors.

Agtech Investment Strategy Requirements

Jim discussed his focus areas in agtech, including automation and robotics, data optimization for farmers, and biologic technologies replacing synthetic chemicals. He outlined three key requirements...

https://businessriff.com

https://tayloredanalytics.com

Financial Projections That Are Investor Ready with Kelvin Taylor, Taylored Analytics

Financial Projections for Entrepreneurs

Mary and Kelvin discussed the components of financial projections for entrepreneurs, particularly focusing on total addressable market (TAM) and its importance to investors. Kelvin explained that investors evaluate business scalability based on the size of the market opportunity, noting that a business with a larger market opportunity, such as $100 million versus $1 million, tends to have a higher valuation.

Financial Forecasting and Cash Flow

Kelvin discussed the...

https://businessriff.com

Mistakes Tech Startups Make with Stacia Thompson from Radiance Consulting & Coaching Groupe

Tech Founder Growth Challenges

Mary and Stacia discussed common mistakes made by tech founders, particularly during the dot-com crash when founders excelled at starting companies but lacked experience in running and growing them. Stacia noted that many tech startups failed after the initial growth stage due to insufficient operational expertise and failure to bring in experienced personnel. She also mentioned similar patterns emerging with the rise of AI, where companies are rushing to implement AI solutions without proper...

https://lushin.com

Ben Kniffen from LUSHIN talks about How to Set Up a Sales Team

Sales Team Development for Startups

Mary and Ben discussed the importance of building a sales team for startup scalability. Ben explained that companies typically start with founder-led sales but eventually need to transfer skills and hire team members, as sales roles are particularly challenging to fill. The discussion highlighted the need for startups to address sales team development as they grow beyond founder-led sales.

Founder Sales Hiring Best Practices

Ben discussed the common...

https://globalwelcom.com

How to Start a Coaching Business with Dr. Yvonne Oswald from Global Welcome

Coaching Business Startup Discussion

Dr. Yvonne Oswald was introduced as a guest expert from Global Welcome, and the discussion was set to cover topics including "Wealthy Mind, Wealthy Wallet" and business setup tips.

Coaching Business Best Practices

Dr. Yvonne shared insights on running a coaching business based on 30-40 years of experience. She advised that coaching businesses should prioritize simple websites over complex ones, recommending a single-page Wix site, and emphasized the importance...

https://www.lved.com

Terry Anderton from LVED talks about Negotiating Mistakes Startups Make

Startup Fundraising Mistakes to Avoid

Terry discussed common mistakes startups make when raising funds, particularly targeting the wrong investor types and check sizes, which can lead to a complex cap table with many investors. Terry advised that startups should aim for the largest check size from the fewest number of investors. The discussion also touched on crowdfunding as an alternative strategy, noting that platforms like StartEngine often set up separate entities to manage small contributions under specific regulatory constraints.<...

https://www.brightwings.io

Isaac Musselwhite from BrightWings talks about Why & How to Hire a Developer for your custom AI and Apps

Developer Hiring Benefits for Startups

Mary interviewed Isaac Musselwhite from BrightWings about the benefits of hiring a developer for startups. Isaac explained that non-technical founders often struggle to clearly communicate their vision to developers, leading to overcharging, incorrect builds, or project stalls. He noted that while AI tools can help founders progress further, they often create layers and features that may not work long-term, making developer involvement important for reworking or...

Michael Morrison from MichaelDMorrison.com discusses Principles to Scale & Sell Your Business

GPS System for Business Success

Michael explained his GPS system for business success, which starts with Guiding Principles that include purpose, product, target audience, and mission. He described these principles as essential for setting direction before creating a business plan, though he noted that traditional business plans can be tedious for many people to complete.

Candidate Assessment and Fit Strategies

Michael explained the importance of having the right people in place, emphasizing the need to assess candidates based on...

https://grandipr.uk/why-your-content-is-at-risk

Céleste, The Empress of Trademarks, from GRAND IPR talks about Trademarks for Startups

Trademark and Intellectual Property Discussion

Mary and Céleste discussed trademarks and intellectual property. Céleste explained that trademarks are unique identifiers, like logos, that must meet certain criteria to be registered. She emphasized that trademarks should be viewed as an investment rather than an expense for business growth and longevity. Céleste also mentioned her updated book "Build It Protected, Leverage It," which covers intellectual property in nine major jurisdictions.

Trademark Symbols Expl...

www.darlinglocal.com

All About Google Profiles with Craig Darling from Darling Local

Google Profiles for Startups Discussion

Google Business Profile Setup

Craig Darling explained that a Google Business Profile is a business listing that helps direct signals from social media channels to search engines like Google, Bing, and Apple. He described the process of creating one as simple, involving visiting business.google.com and following the steps. Craig mentioned that he has recently helped three people set up their Google Business profiles without charging a fee during one-on-one sessions.

https://businessriff.com

Pitching Made Easy with Mary Scott

In this episode of "Stuck? Time to Improv!," Mary Scott from BusinessRiff provided basic pitching tips for startups seeking funding or customers. She emphasized starting with a concise 30-second pitch that introduces the speaker's name, company, the problem they solve, for whom, and the benefits the client derives. Then the speaker's unique qualifications. Mary demonstrated her own pitch example, highlighting how she helps inventors, product, and tech startups get resources and connections they need to validate ideas, learn to pitch successfully and get money from investors...

https://surffinancialbrokers.com

Chris Castanes from Surf Financial Brokers gives basic insurance tips for startups

Startup Insurance Basics Explained

Mary and Chris discussed the importance of insurance for startups, focusing on liability insurance and workers' compensation. Chris explained that liability insurance protects businesses from claims of bodily harm or property damage, both on and off premises. He also described workers' comp, noting that it covers employees who are injured on the job, and mentioned ghost policies as an alternative for self-employed individuals or those with few employees. Chris emphasized that while workers' comp...

Oliver Mitchell from ff Venture Capital talks about AI & Robotics Startups

AI and Robotics Investment Insights

Oliver Mitchell, an investor at ff Venture Capital, shared his extensive experience in AI and robotics investments, including his time at Autonomy Ventures where he made significant exits. He discussed his current role at FF, where he focuses on DeepTech investments, and his work on the boards of companies like Plus One, Burrow, and Civrox. Oliver also mentioned his book "A Startup Field Guide in the Age of Robots and AI," which offers insights from 30 industry leaders and provides...

Louise Pooley from Pooley Accounting Services talks about Taking Care of Your Money

Financial Mistakes in Startup Failures

Louise discussed common financial mistakes that lead to startup failures, highlighting the importance of proper cash flow planning during the early non-profitable phase and establishing a solid financial management system. She emphasized the need to separate business and personal finances by opening a dedicated business bank account and avoiding co-mingling funds, which can create tax complications with the IRS. Louise also warned about the consequences of inadequate tax planning, including unexpected tax debts and penalties for late...

https://JustinePetersen.org

Robert Boyle from Justine Petersen talks about CDFIs

CDFIs: Supporting Underserved Communities

Mary introduced Robert Boyle from Justine Peterson, a CDFI in St. Louis, to discuss the importance of CDFIs for startups. Robert explained that CDFIs, or Community Development Financial Institutions, were established by the U.S. Department of Treasury in the mid-90s to assist underserved communities and business owners. He mentioned that CDFIs come under the CDFI Fund and can provide various financial services, including New Market Tax Credits, to support community development and small businesses.

...

https://www.logisticssales.com/

Daman Grewal from LogisticsSales.com gives Sales Tips for Startups

Summary

Sales Strategies for Startup Success

Mary welcomed Daman Grewal to the show to discuss sales strategies for startups, emphasizing the importance of sales before revenue generation. Daman shared his experience visiting St. Louis and acknowledged Mary's introduction. The conversation set the stage for a discussion on sales techniques, with Daman's expertise in logistics sales to be highlighted in the upcoming segment.

Reframing Sales as Customer Service

Daman and Mary discussed misconceptions about...

https://evolutionaccelerator.co

Alex Chompff from Evolution Ventures Fund Management talks about Getting Investors to Lean In.

Startup Support and Collaboration InsightsS

Mary welcomed Alex Chompff from Evolution Ventures to the Stuck? Time to Improv! podcast, where they discussed the importance of supporting startups and their journey to success. Alex expressed gratitude for the opportunity to share insights with the community and emphasized the value of collaboration in the startup ecosystem.

Narrative Focus for Startup Investors

Alex advised early-stage startup founders to focus on developing a compelling narrative when...

Startup Tree https://hssu-cie.startuptree.co/

Kristy Jackson from the Center of Innovation and Entrepreneurship (CIE) at Harris-Stowe State University talking about challenges to minority founders

Supporting Minority Entrepreneurs in St. Louis

Mary and Kristy discussed the challenges minority founders face, including funding gaps, knowledge gaps, and a lack of mentorship and sponsorship. Kristy, as the Executive Director of the Center of Innovation and Entrepreneurship at Harris Stowe State University, highlighted their entrepreneurship program's efforts to address these issues by providing resources and support to St. Louis entrepreneurs. They also mentioned Kristy's personal...

https://www.farzanachohan.com/

Dr. Farzana Chohan from Optimized Excellence talks about AI for Startups

AI Strategies for Startup Success

Mary introduces Dr. Farzana Chohan from Optimized Excellence to discuss AI strategies for startups. They plan to explore common mistakes startups make when approaching AI and how to work effectively with it.

AI Adoption: Fear vs. Blindness

Dr. Chohan discussed the two extreme approaches to AI: fear and blind adoption. She emphasized the need for leaders to learn about AI and its potential benefits for their specific business areas...

https://tencapital.group/

Hall Martin from TEN Capital talks about Success Factors in Early Stage Diligence

Due Diligence for Startup Investors

Mary and Hall discussed the importance of due diligence for early-stage startups. Hall explained that investors examine pitch decks, legal structures, cap tables, financial projections, and revenue models to assess a company's potential. He emphasized the need for entrepreneurs to demonstrate knowledge of their business and to show evidence of support from others, such as family and previous customers. Hall also stressed the importance of being transparent about a startup's current stage...

Kent Voran from SCORE talks about What Type of Business Are You.

Business Structure Selection Guide

Mary and Kent discussed the different types of business structures, including sole proprietorship, partnership, limited liability companies, and corporations (C-Corp and S-Corp). Kent emphasized the importance of considering factors such as tax liability, personal liability exposure, operational setup, funding options, and future growth when choosing a business structure. He encouraged early planning and evaluation of business goals to make an informed decision.

Business Structure Pros and Cons

Kent explained the pros and cons of sole...

https://businessriff.com

Marie Patterson from InfinityPath Ventures talks about AI infrastructure for Startups

AI Infrastructure: Hardware and Software

Marie explained that AI infrastructure encompasses both hardware and software components at the server and chip levels, including supporting systems like cooling and power supplies. She emphasized the importance of creating "frictionless planes" for software solutions to drive efficiency, particularly for companies that sell AI as their product. Marie clarified that AI infrastructure benefits are not limited to companies that primarily use AI, as many businesses leverage it in various aspects like marketing, production...

https://starteryou.com

Michael Berlingo from Starteryou talks about using Students as a Resource for Startups.

Student Resources for Startup Success

Mary and Michael discussed the benefits of using students as a resource for startups. Michael explained that students are eager, passionate, and can be shaped and molded to develop various skills beyond their initial role. He emphasized that students can be turned into versatile generalists, which is valuable for startups with small employee sizes and budgets. They also discussed how Starter U, Michael's organization, trains students in multiple areas of development to...

Chris Jackson from EOS Worldwide talks about Vision-Market-Sales for Startups

Focus and Speed for Startups

Chris emphasized the importance of focus for early-stage businesses, highlighting the need to define their core problem and target market rather than trying to solve multiple issues simultaneously. He noted that founders often underestimate the importance of anticipating problems and learning from failures, suggesting that rapid iteration and customer validation are crucial for success. Chris advised against spending too much time on non-essential details like websites, advocating instead for getting products into the market quickly to test and validate their...

https://BizFi.io https://biz-fi.io/sue-schuster https://bizfi.io/funding-options/

Sue Schuster from BizFi.io talks about what makes good Partnerships for Startups

Benefits and Risks of Partnerships

Mary and Sue discussed the importance of partnerships in business, emphasizing that a good partnership should be mutually beneficial and help both parties achieve their goals. Sue explained that partnerships are valuable because they provide access to skills and expertise that one party may lack, and she noted that while co-founders can be successful, there are risks involved, such as differing visions for the...

Gordon Firemark, "The Podcast Lawyer" talks about What will cost a Startup if They Don't Use a Lawyer

Legal Protection for Startup Founders

Mary and Gordon discussed the importance of hiring a lawyer for startups to avoid costly mistakes. Gordon emphasized that founders often underestimate the legal risks and can lose their business or IP by not setting up the proper legal structure. He highlighted the dangers of operating as a sole proprietorship or partnership without protection, and the need for agreements to handle potential issues in business relationships. Gordon stressed that while founders may...

https://kleverstrategies.com/

Natalie Krul from Klever Strategies talks about Using LinkedIn for Leads

Why businesses should use LinkedIn

inding target prospects on LinkedIn

https://monumentalstrides.com

Tiffany Rawson from Monumental Strides talks about basic strategies for startups

What strategies should you have? Know your long term plan. Where do you see your company in 5 years? ten years? What are revenue & expense projections? How big is the team? But, importantly, you need to think about what is your Impact? On community, on industry, on your employees, on customers lives, etc. And, how is this business serving you, the Founder? Decisions made today should set you up for your future goals. And you need to be able to measure the...

Alfredo Matthew III from SPCC.1 talks about Revenue & Focus for Startups

Startup Success: Validation, Revenue, Profit

Mary and Alfredo discussed key strategies for startups to succeed, emphasizing the importance of customer validation, revenue generation, and profitability. Alfredo highlighted the need for startups to focus on securing early customers, building a tiered service or product offering, and gradually increasing contract values. He stressed the significance of understanding break-even points and net profitability, warning that many businesses fail to cross the revenue chasm between $2 million and $5 million. Mary and Alfredo agreed that startups must validate their ideas...

https://www.linkedin.com/in/kenmiller84/

Ken Miller from AIVAlution talks about How to Know When to Hire a V.A.

Choosing Between Onshore and Offshore VAs

Ken explained the differences between onshore and offshore virtual assistants, noting that onshore VAs typically cost $20-25 per hour while offshore VAs cost $6-7 per hour. He advised that startups should hire a VA when they become overwhelmed by mundane, repetitive tasks, as this indicates they are running out of time to invest in their business. Ken emphasized his own experience running multiple businesses and the...

C. J. Gilbert from Jungle Studios talks about website essentials for Startups

Startup Website Goals Discussion

Mary and CJ discussed the importance of setting clear goals for a startup's website, with sales being a common objective. CJ emphasized the need to consider what the website should achieve for both the business and its customers, highlighting the value of including educational resources, information, and forms. They also touched on the process of creating and sharing content across platforms like Facebook, LinkedIn, and YouTube.

Domain and Website Strategy Discussion

Mary and C discussed...

https://earnd.co

Randy Lieberman from Earnd talks about R&D Tax credits for Startups

Startup Tax Credits for Innovation

Mary Scott from Business Riff welcomed Randy Lieberman from Earned to discuss research and development tax credits for startups. Randy explained that these tax credits are stimuli promoting innovation in the United States, covering work from ideation to testing done by employees or contractors. He clarified that the credits can be applied against taxes, including payroll taxes, to stimulate innovation and competitiveness.

Tax Credits for Pre-Revenue Companies

Randy explained...

https://blackdogventurepartners.com/

Scott Kelly from Blackdog Venture Partners talking about what investors want.

Mary Scott interviewed Scott Kelly from Black Dog Venture Partners to discuss investor pitch preparation. Scott emphasized the importance of matching the right investors to the startup's stage and having complete documentation ready. He outlined the different stages of investment, from pre-seed to growth capital, and explained the key components of a pitch deck, including the problem being solved, solution, pricing, team, exit strategy, and funding ask. Scott also mentioned that Black Dog Venture Partners focuses on technology, software, cybersecurity, and...

Cristina Imre from Quantum Wins talking about moving fast in today's AI market.

AI Strategy Integration Insights

Mary and Cristina discussed the importance of integrating AI strategically, emphasizing that many companies have rushed into AI without proper planning, leading to poor outcomes. Cristina highlighted that small players now have an opportunity to outperform larger companies if they adopt the right strategies, focusing on shipping signals rather than just features. She explained that signals come from user interactions and provide meaningful insights, which are crucial for success in the AI landscape. Mary agreed, stressing the need...

Podcast host, Mary Scott, gives practical tips on how to pitch your idea/product/service in a clear & compelling way. Very short & sweet.

https://businessriff.com