#147 - Startup School Week 6 Recap - Tim Brady on Culture and Dalton Caldwell on Pivoting

Oct 9, 2019 46 min

About this episode

We've cut down the sixth week of lectures to be even shorter and combined them into one podcast. First <a href="https://youtu.be/qnNHW6TYv5I">a lecture from Tim Brady</a>. Tim’s a partner at YC. His lecture covers the importance of building a good culture early and shares six things that you can do now to help create a solid foundation for your startup. Then <a href="https://youtu.be/8pNxKX1SUGE">a lecture from Dalton Caldwell</a>. <a href="https://twitter.com/daltonc">Dalton</a> is a partner at YC and he’s also the head of admissions. His lecture covers pivoting and his advice on how founders should think about it. Y Combinator invests a small amount of money ($150k) in a large number of startups (recently 200), twice a year. Learn more about YC and apply for funding here: <a href="https://www.ycombinator.com/apply/">https://www.ycombinator.com/apply/</a> *** Topics 00:00 - Intro 00:38 - Tim Brady on Building Culture 1:13 - Culture is behavior and the right behaviors support a good business 4:38 - Six things new startups can do now 5:00 - 1. Be proud of the problem you are solving 7:31 - 2. Create a long term vision that others will follow 9:36 - 3. List your values then model the behavior 12:34 - 4. Align your culture with your customer 14:49 - 5. Discuss the importance of diversity to your company 16:43 - 6. Put a hiring process into practice. Plan to evolve it. 18:24 - Dalton Caldwell on Pivoting 18:53 - The term "pivot" 20:20 - Why pivot? 21:33 - Good reasons to pivot 22:35 - Good reasons not to pivot 23:13 - Why people take too long to pivot 26:01 - Anecdotes 27:22 - Product market fit 28:34 - How to find a better idea 30:40 - It's ok to not work on an idea that requires venture capital 31:34 - Venture vs. non-venture scale ideas 32:52 - When is the best time to pivot 33:48 - More pivoting thoughts 35:07 - Idea quality scores 37:11 - Brex 39:51 - Retool 41:37 - Magic 43:22 - Segment 45:16 - Dalton's summary

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