Jan 28 2025 84 mins
Today, Mike speaks to David Hirschfeld, a seasoned entrepreneur who has worked on 30+ tech and software startups to discuss why developing a founder mindset is critical. David explains why founders need to switch from a creative to a managerial mindset.
He shares why taking a clinician's approach, testing and measuring results, embracing failures as learning experiences, and being open to pivoting are all so essential. David also explains how you can use AI to automate and improve workflows while generating revenue early and keeping the cost of customer acquisition below one third of their lifetime value.
KEY TAKEAWAYS
- An evidence-based approach is essential.
- Generate revenue from your customers early. It makes you less reliant on investors and you quickly learn what your customers want.
- If you are not out there in front of your potential customers from the start, that is a sign that you do not have the right founder´s mindset. David explains why and how to address this issue.
- You need to generate revenue from your customers early on. It makes you less reliant on investors, as well as more attractive to them.
- Look for a way to quickly produce something simple and get it in front of potential customers.
- At the founder stage, you need to switch from a visionary mindset to a managerial one.
- Value stream mapping will help you identify bottlenecks.
- As soon as you have a workflow that is generating decent results, create a playbook for it.
BEST MOMENTS
2.52 "Clinicians don't believe in anything. They just test and measure, then make a plan based on the results of those tests."
7:58 "Founders often exhibit an obsessive leadership style and autocratic decision making, which can lead to poor decision making and strain team dynamics."
13.08 “ Founders shouldn't love their product. They should love their customers' and be committed to mitigating their customers problems."
30.37 “I looked to see where my business flow was kinked ... and focused my energy on (removing) that restriction."
34.41 “It starts to become very obvious where to focus your effort based on your cashflow.”
45.39 “When you're ready to bring someone in … give them the playbook.
55.03 “Predictability means if I spend more money in that area, I should see an equivalent return, in terms of what we're producing.”
1.03.17 “Make sure that they follow the playbook.”
1.04.49 “Founders that are really successful don't think of them as failures. They think of them as tests.”
1.07.14 “They (highly successful CEOs) are brilliant contingency planners.”
1.21.17 “If you want to accelerate through investment, having a conversation with an investor is a completely different discussion, because you've got a growing customer base.”
EPISODE RESOURCES
https://tekyz.podbean.com/ - Scaling Smarter Episodes.
www.scalingsmarter.net - Schedule an interview
https://www.linkedin.com/in/dhirschfeld/ https://x.com/tekyzinc
https://www.linkedin.com/in/dhirschfeld/
https://www.facebook.com/dmhirschfeld
David Hirschfeld is a 35-year software development veteran with a unique perspective on startups, technological innovation and business growth. A former physics student from UCLA, David's career spans leadership roles at tech giants like Computer Associates, Texas Instruments, Intel, and Motorola, before launching his first startup—which grew to 800 customers across 22 countries and was successfully sold in 2000.
Since founding Tekyz Inc. in 2007, David has emerged as a strategic advisor specialising in AI-driven workflow transformation for scaleups and in the design & development of startups. David's expertise bridges cutting-edge AI technologies, workflow optimization, and startup ecosystem dynamics.
ABOUT THE HOST
Meet Mike, a seasoned tech entrepreneur and visionary with over two and a half decades of invaluable experience in founding and scaling successful tech start-ups. Mike brings a wealth of firsthand knowledge, and a deep understanding of the challenges faced by entrepreneurs and tech professionals.
As a host, Mike is dedicated to sharing actionable insights, strategies, and stories gathered from conversations with industry leaders, innovators, and experts. With a remarkable ability to distil practical wisdom from guests, Mike curates engaging discussions that resonate with both aspiring entrepreneurs and seasoned professionals.