In this episode of Startup Hustle, Andrew Morgans and Meghan Lynch, CEO of Six-Point Creative, sit down to answer some of the important questions for growing companies. What is it like to be a business that is in its second stage? How do they differ from large brands or startups? What should second-stage businesses focus on? Not only that, but they also talk about the early beginnings of Meghan’s career until she landed at an agency focusing on second-stage companies. You’re in for an insightful ride in this episode.



Find Startup Hustle Everywhere:

https://gigb.co/l/YEh5



This episode is sponsored by Tesseract Ventures:

https://tesseractventures.io



Explore the details of Six-Point Creative:

http://www.sixpointcreative.com



Learn more about Marknology:

https://www.marknology.com



Listen to all of Andrew’s hosted episodes on Startup Hustle:

https://gigb.co/l/99tB

In this episode of Startup Hustle, Andrew Morgans and Meghan Lynch, CEO of Six-Point Creative, sit down to answer some of the important questions for growing companies. What is it like to be a business that is in its second stage? How do they differ from large brands or startups? What should second-stage businesses focus on? Not only that, but they also talk about the early beginnings of Meghan’s career until she landed at an agency focusing on second-stage companies. You’re in for an insightful ride in this episode.
 
Find Startup Hustle Everywhere:
<a href="https://linktr.ee/startuphustle">https://gigb.co/l/YEh5</a>
 
This episode is sponsored by Tesseract Ventures:
<a href="https://tesseractventures.io">https://tesseractventures.io</a>  
 
Explore the details of Six-Point Creative:
<a href="http://www.sixpointcreative.com">http://www.sixpointcreative.com</a> 
 
Learn more about Marknology:
<a href="https://www.marknology.com/">https://www.marknology.com</a> 
 
Listen to all of Andrew’s hosted episodes on Startup Hustle:
<a href="https://gigb.co/l/99tB">https://gigb.co/l/99tB</a>

Startup Hustle is a podcast for entrepreneurs, by entrepreneurs.  With the mission of telling the real story of startups and entrepreneurs, topics range from funding to failure and beyond.  If you want to start, own, or build a business then you're in the right place.   

Startup Hustle is a podcast for entrepreneurs, by entrepreneurs.&nbsp; With the mission of telling the real story of startups and entrepreneurs, topics range from funding to failure and beyond.&nbsp; If you want to start, own, or build a business then you're in the right place.&nbsp; &nbsp;

Startups, Entrepreneurship and Business are Not Easy

Startup Hustle

Startup Hustle is a podcast for entrepreneurs, by entrepreneurs.  With the mission of telling the real story of startups and entrepreneurs, topics range from funding to failure and beyond.  If you want to start, own, or build a business then you're in the right place.

What is a Second Stage Business?

David Sinkinson, co-founder of AppArmor, shares his entrepreneurial journey and the lessons he learned along the way. He challenges startup myths and emphasizes the importance of finding the right co-founder. The conversation covers topics such as the need for funding, the psychology of being a founder, the evolution of AppArmor's product, the slow sales cycle in selling to colleges, and the impact of COVID-19 on the business. AppArmor was eventually sold for $40 million. 

The conversation explores the psychology behind valuations and acquisitions in the software business. It highlights the concept of the 'mighty middle' where businesses sell for millions of dollars, but are not the multi-billion dollar giants. The discussion also touches on the challenges and opportunities of building a SaaS company, the importance of timing in seeking funding, and the benefits and complexities of working with family members. The guest also shares insights from his book 'Startup Different' which offers a chronological account of his company's journey and busts 33 myths about entrepreneurship.

Takeaways
Challenge startup myths and evaluate what is truly necessary for your business.
Finding the right co-founder who complements your skills and provides support is crucial.
The evolution of a product is inevitable, and listening to customer feedback is essential for success.
Selling to colleges can have a slow sales cycle, but once you gain traction, customer loyalty is high.
Adapting to market changes, such as the impact of COVID-19, requires innovation and listening to customer needs.
Building a successful business often takes years of hard work and perseverance. The 'mighty middle' refers to businesses in the software industry that sell for millions of dollars, bridging the gap between small startups and multi-billion dollar companies.
Building a SaaS company to reach a million dollars in revenue is challenging but doable, while reaching 10 million is a whole different level of difficulty.
Timing is crucial when seeking funding, as it's important for the market to develop and understand the product before investing heavily.
Working with family members in a business can be successful if there is trust, complementary skills, and effective communication.
The book 'Startup Different' provides a chronological account of the author's company journey and offers insights and lessons for young entrepreneurs.

Find Startup Hustle Everywhere:
https://gigb.co/l/YEh5

This episode is sponsored by Full Scale:
https://fullscale.io/

Find out more about Startup Different here:
https://www.startupdifferent.com/

Learn more about David Sinkinson here:
https://www.linkedin.com/in/davidsinkinson/

Sign up for the Startup Hustle newsletter:
https://newsletter.startuphustle.xyz/

Sound Bites
"We wanted to make sure that entrepreneurs and founders can avoid some of the mistakes that we made."
"Funding might actually leave your business worse off than if you hadn't pursued it."
"Being a single founder is hard. You need someone to talk to, cheer with, and pick you back up in the low moments."
"Most people think of software businesses as being these multi-billion dollar huge sales that happen later coming to nowhere kind of thing."
"It's relatively easy to build a SaaS company that gets to a million dollars a year in revenue."
"We were extremely profitable, turning a 60% profit by our final year."

Chapters
00:00 Introduction and Background
04:10 The Importance of Finding the Right Co-founder
07:05 Evolution of a Product: Listening to Customer Feedback
13:09 Navigating the Slow Sales Cycle in Selling to Colleges
15:59 Adapting to Market Changes: The Impact of COVID-19
18:20 Successful Exit: Building a Business Over Time
22:40 Valuations and Acquisitions in the Software Industry
25:17 The Importance of Timing in Seeking Funding
29:43 Taking the Money and Running
31:37 Insights from 'Startup Different' Book

David Sinkinson, co-founder of AppArmor, shares his entrepreneurial journey and the lessons he learned along the way. He challenges startup myths and emphasizes the importance of finding the right co-founder. The conversation covers topics such as the need for funding, the psychology of being a founder, the evolution of AppArmor's product, the slow sales cycle in selling to colleges, and the impact of COVID-19 on the business. AppArmor was eventually sold for $40 million. 
The conversation explores the psychology behind valuations and acquisitions in the software business. It highlights the concept of the 'mighty middle' where businesses sell for millions of dollars, but are not the multi-billion dollar giants. The discussion also touches on the challenges and opportunities of building a SaaS company, the importance of timing in seeking funding, and the benefits and complexities of working with family members. The guest also shares insights from his book 'Startup Different' which offers a chronological account of his company's journey and busts 33 myths about entrepreneurship.
Takeaways
<ul>
<li>Challenge startup myths and evaluate what is truly necessary for your business.</li>
<li>Finding the right co-founder who complements your skills and provides support is crucial.</li>
<li>The evolution of a product is inevitable, and listening to customer feedback is essential for success.</li>
<li>Selling to colleges can have a slow sales cycle, but once you gain traction, customer loyalty is high.</li>
<li>Adapting to market changes, such as the impact of COVID-19, requires innovation and listening to customer needs.</li>
<li>Building a successful business often takes years of hard work and perseverance. The 'mighty middle' refers to businesses in the software industry that sell for millions of dollars, bridging the gap between small startups and multi-billion dollar companies.</li>
<li>Building a SaaS company to reach a million dollars in revenue is challenging but doable, while reaching 10 million is a whole different level of difficulty.</li>
<li>Timing is crucial when seeking funding, as it's important for the market to develop and understand the product before investing heavily.</li>
<li>Working with family members in a business can be successful if there is trust, complementary skills, and effective communication.</li>
<li>The book 'Startup Different' provides a chronological account of the author's company journey and offers insights and lessons for young entrepreneurs.</li>
</ul>
Find Startup Hustle Everywhere: <a href="https://gigb.co/l/YEh5">https://gigb.co/l/YEh5</a> This episode is sponsored by Full Scale: <a href="https://fullscale.io/">https://fullscale.io/</a> Find out more about Startup Different here: <a href="https://www.startupdifferent.com/">https://www.startupdifferent.com/</a>
Learn more about David Sinkinson here: <a href="https://www.linkedin.com/in/davidsinkinson/">https://www.linkedin.com/in/davidsinkinson/</a>
Sign up for the Startup Hustle newsletter: <a href="https://newsletter.startuphustle.xyz/">https://newsletter.startuphustle.xyz/</a>
Sound Bites
<ul>
<li>"We wanted to make sure that entrepreneurs and founders can avoid some of the mistakes that we made."</li>
<li>"Funding might actually leave your business worse off than if you hadn't pursued it."</li>
<li>"Being a single founder is hard. You need someone to talk to, cheer with, and pick you back up in the low moments."</li>
<li>"Most people think of software businesses as being these multi-billion dollar huge sales that happen later coming to nowhere kind of thing."</li>
<li>"It's relatively easy to build a SaaS company that gets to a million dollars a year in revenue."</li>
<li>"We were extremely profitable, turning a 60% profit by our final year."</li>
</ul>
Chapters 00:00 Introduction and Background 04:10 The Importance of Finding the Right Co-founder 07:05 Evolution of a Product: Listening to Customer Feedback 13:09 Navigating the Slow Sales Cycle in Selling to Colleges 15:59 Adapting to Market Changes: The Impact of COVID-19 18:20 Successful Exit: Building a Business Over Time 22:40 Valuations and Acquisitions in the Software Industry 25:17 The Importance of Timing in Seeking Funding 29:43 Taking the Money and Running 31:37 Insights from 'Startup Different' Book

Startup Different

In this episode, Matt Watson interviews Dan Kerr from Flyover Capital, discussing the evolving landscape of venture capital in the Midwest, particularly in Kansas City. They explore the importance of networking for founders, the structure of the upcoming Mid-by-Midwest event, and the changing dynamics of funding, including the rise of debt and royalty financing. 

Dan shares insights on Flyover Capital's investment strategy, the challenges startups face in revenue generation, and the growing variety of investment options available in the region. The conversation highlights the advantages of the Kansas City startup ecosystem and the role of offshore development teams in modern business.

Takeaways
Networking is crucial for founders looking to raise capital.
The Mid-by-Midwest event is designed to connect founders with investors.
Debt and royalty financing are becoming more popular alternatives to equity.
The VC market in 2024 is more selective and cautious than in previous years.
Flyover Capital focuses on investing in undercapitalized regions.
Local investors often take on more risk with Kansas City-based companies.
Startups need to generate revenue to attract investment.
The Kansas City startup ecosystem has evolved significantly over the past decade.
There are now more investment options available for startups in the Midwest.
Offshore development teams are increasingly common among startups.

Find Startup Hustle Everywhere:
https://gigb.co/l/YEh5

This episode is sponsored by Full Scale:
https://fullscale.io/

Find out more about Flyover Capital here:
https://www.flyovercapital.com/

Learn more about Dan Kerr here:
https://www.linkedin.com/in/dankerrkansas/

Sign up for the Startup Hustle newsletter:
https://newsletter.startuphustle.xyz/

Sound Bites
"How much money you got for us today?"
"This is year number three."
"It's a nightmare to reach out to all these different VC companies."

Chapters
00:00 Introduction to the Midwest VC Landscape
03:05 The Importance of Networking for Founders
05:58 Event Format and Structure
09:06 Understanding Debt and Royalty Financing
11:57 The Changing VC Market in 2024
15:05 Flyover Capital's Investment Strategy
18:01 The Role of Local Investors
21:10 Challenges for Startups in Revenue Generation
23:59 The Evolution of the Kansas City Startup Ecosystem
27:00 The Growing Variety of Investment Options
29:51 The Value of Offshore Development Teams
33:05 Conclusion and Event Details

In this episode, Matt Watson interviews Dan Kerr from Flyover Capital, discussing the evolving landscape of venture capital in the Midwest, particularly in Kansas City. They explore the importance of networking for founders, the structure of the upcoming Mid-by-Midwest event, and the changing dynamics of funding, including the rise of debt and royalty financing. 
Dan shares insights on Flyover Capital's investment strategy, the challenges startups face in revenue generation, and the growing variety of investment options available in the region. The conversation highlights the advantages of the Kansas City startup ecosystem and the role of offshore development teams in modern business.
Takeaways Networking is crucial for founders looking to raise capital. The Mid-by-Midwest event is designed to connect founders with investors. Debt and royalty financing are becoming more popular alternatives to equity. The VC market in 2024 is more selective and cautious than in previous years. Flyover Capital focuses on investing in undercapitalized regions. Local investors often take on more risk with Kansas City-based companies. Startups need to generate revenue to attract investment. The Kansas City startup ecosystem has evolved significantly over the past decade. There are now more investment options available for startups in the Midwest. Offshore development teams are increasingly common among startups.
Find Startup Hustle Everywhere: https://gigb.co/l/YEh5
This episode is sponsored by Full Scale: https://fullscale.io/
Find out more about Flyover Capital here: https://www.flyovercapital.com/
Learn more about Dan Kerr here: https://www.linkedin.com/in/dankerrkansas/
Sign up for the Startup Hustle newsletter: https://newsletter.startuphustle.xyz/
Sound Bites "How much money you got for us today?" "This is year number three." "It's a nightmare to reach out to all these different VC companies."
Chapters 00:00 Introduction to the Midwest VC Landscape 03:05 The Importance of Networking for Founders 05:58 Event Format and Structure 09:06 Understanding Debt and Royalty Financing 11:57 The Changing VC Market in 2024 15:05 Flyover Capital's Investment Strategy 18:01 The Role of Local Investors 21:10 Challenges for Startups in Revenue Generation 23:59 The Evolution of the Kansas City Startup Ecosystem 27:00 The Growing Variety of Investment Options 29:51 The Value of Offshore Development Teams 33:05 Conclusion and Event Details

MidxMidwest and the State of Venture Capital in 2024

In this episode, Matt Watson interviews Michelle Denogean, the Chief Marketing Officer of MindTrip and author of the book 'Grow Up.' They discuss the challenges that founders face when growing their companies and the importance of having a diverse team with different superpowers. Michelle introduces four superpowers: innovator, builder, connector, and persuader, and explains how each one contributes to the growth of a company. They also talk about the blind spots that come with each superpower and the need for self-awareness and trust in delegating tasks to others. Michelle offers advisory services to help founders reflect on their leadership styles and guide them in building the right team and positioning their brand.

Takeaways
The superpowers of founders are not always the same as the roles they play in their companies.
Each superpower comes with its own blind spots and weaknesses.
Successful growth requires embracing the strengths of others and building a diverse team.
Self-awareness is crucial for recognizing blind spots and understanding the value of different superpowers.
Trust is essential in delegating tasks and empowering team members.
Having the right people around you is the key to overcoming challenges and achieving growth.
Reflecting on your own leadership style and understanding your weaknesses can help you become a better leader.
Pivoting and adapting to market needs is important for the success of a startup.
The cure to startup failure is the people you have around you.
Being aware of your own strengths and weaknesses can help you make better decisions and focus on what you truly enjoy.
titles
Focusing on Your Strengths and Enjoying the Journey
The Importance of Pivoting and Adapting to Market Needs



Find Startup Hustle Everywhere:
https://gigb.co/l/YEh5

This episode is sponsored by Full Scale:
https://fullscale.io/

Find out more about Mindtrip here:
https://mindtrip.ai/

Learn more about Michelle Denogean here:
https://www.linkedin.com/in/michelledenogean/

Sign up for the Startup Hustle newsletter:
https://newsletter.startuphustle.xyz/


Sound Bites
"The superpowers of founders are not always the same as the roles they play in their companies."
"Successful growth requires embracing the strengths of others and building a diverse team."
"Trust is essential in delegating tasks and empowering team members."

Chapters
00:00 Introduction and Overview
11:48 The Superpowers of Founders and the Challenges of Growth
18:37 The Importance of Building a Diverse Team with Different Superpowers
25:18 Recognizing Blind Spots and Embracing the Strengths of Others
30:08 The Role of Trust in Delegating Tasks and Empowering Team Members
35:01 Overcoming Challenges and Achieving Growth with the Right People
38:16 Reflecting on Your Leadership Style and Understanding Your Weaknesses
38:40 Becoming a Better Leader Through Self-Awareness and Reflection

In this episode, Matt Watson interviews Michelle Denogean, the Chief Marketing Officer of MindTrip and author of the book 'Grow Up.' They discuss the challenges that founders face when growing their companies and the importance of having a diverse team with different superpowers. Michelle introduces four superpowers: innovator, builder, connector, and persuader, and explains how each one contributes to the growth of a company. They also talk about the blind spots that come with each superpower and the need for self-awareness and trust in delegating tasks to others. Michelle offers advisory services to help founders reflect on their leadership styles and guide them in building the right team and positioning their brand. Takeaways The superpowers of founders are not always the same as the roles they play in their companies. Each superpower comes with its own blind spots and weaknesses. Successful growth requires embracing the strengths of others and building a diverse team. Self-awareness is crucial for recognizing blind spots and understanding the value of different superpowers. Trust is essential in delegating tasks and empowering team members. Having the right people around you is the key to overcoming challenges and achieving growth. Reflecting on your own leadership style and understanding your weaknesses can help you become a better leader. Pivoting and adapting to market needs is important for the success of a startup. The cure to startup failure is the people you have around you. Being aware of your own strengths and weaknesses can help you make better decisions and focus on what you truly enjoy. titles Focusing on Your Strengths and Enjoying the Journey The Importance of Pivoting and Adapting to Market Needs 
Find Startup Hustle Everywhere: <a href="https://gigb.co/l/YEh5">https://gigb.co/l/YEh5</a> This episode is sponsored by Full Scale: <a href="https://fullscale.io/">https://fullscale.io/</a> Find out more about Mindtrip here: <a href="https://novelcapital.com/"></a><a href="https://mindtrip.ai/">https://mindtrip.ai/</a>
Learn more about Michelle Denogean here: <a href="https://www.linkedin.com/in/keithharringtonkansas/"></a><a href="https://www.linkedin.com/in/michelledenogean/">https://www.linkedin.com/in/michelledenogean/</a>
Sign up for the Startup Hustle newsletter: <a href="https://newsletter.startuphustle.xyz/">https://newsletter.startuphustle.xyz/</a>
 Sound Bites "The superpowers of founders are not always the same as the roles they play in their companies." "Successful growth requires embracing the strengths of others and building a diverse team." "Trust is essential in delegating tasks and empowering team members." Chapters 00:00 Introduction and Overview 11:48 The Superpowers of Founders and the Challenges of Growth 18:37 The Importance of Building a Diverse Team with Different Superpowers 25:18 Recognizing Blind Spots and Embracing the Strengths of Others 30:08 The Role of Trust in Delegating Tasks and Empowering Team Members 35:01 Overcoming Challenges and Achieving Growth with the Right People 38:16 Reflecting on Your Leadership Style and Understanding Your Weaknesses 38:40 Becoming a Better Leader Through Self-Awareness and Reflection

What is a Second Stage Business?

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