The Startup Solution

Threshold Ventures
  • 5.0 (45)
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  • UPDATED MONTHLY

The Startup Solution tackles the make-or-break situations that entrepreneurs face, offering clear advice on how to survive and thrive in an early-stage company. Who’s it for? Founders, startup execs, and investors who want to learn from real-world situations, unpacked by Heidi Roizen, a “recovering" entrepreneur and current VC who has seen it all through 40 years and 40 boards. Heidi uses a case method to unpack a new situation in each episode, breaking down why it’s a big deal and talking about how it was solved or could have been solved. The situations are from her direct experience, though all names and details have been changed to uphold our commitment to the Entrepreneur Protection Program. Heidi has spent 40 years in the tech startup world, the first dozen years as an entrepreneur herself, and since then, 25 years as a venture capitalist. She’s served on over 40 boards, from seed stage to public companies. She also co-leads the Threshold Venture Fellows program at Stanford University and is a partner at Threshold Ventures.

  1. It’s All About You/It’s Not All About You

    JUN 26

    It’s All About You/It’s Not All About You

    In this episode, Heidi discusses how founders tend to swing between two extremes — thinking it’s not all about them (when actually, it is), or believing it’s only about them and their company (when it really isn’t). She’ll review both sides and point out what founders often get wrong — and how to get it right. More information: https://www.threshold.vc/podcast Further reading: On the occasion of our 40th episode, here are the names and links to the ‘village’ of people responsible for making this podcast a reality! My partners at Threshold: https://threshold.vc/team Carol Wentworth, my creative partner for all 40 episodes: https://www.linkedin.com/in/cawentworth/ Producer/Director Nick van der Kolk: https://loveandradio.org/     Forrest Lawrence/Working Title Recording Studio: https://workingtitlerecordingstudios.com/ Albertson Design for original concept, production, and creative artwork: https://albertsondesign.com/ Music composer Brad Wells: https://www.roomfulofteeth.org/bios/brad-wells And thanks to our own Wendy McArdle, who manages distribution

    11 min
  2. Inside the Black Box of VC Behavior

    MAY 22

    Inside the Black Box of VC Behavior

    While the internal dynamics of a VC firm may feel like a black box, you can often infer what’s going on based on how your VC is acting – if you know what to look for. In this episode, Heidi explains why many VC behaviors that seem confusing or inconsistent can make more sense once you understand the inner workings of venture funds and firms.  More information: https://www.threshold.vc/podcast/inside-the-black-box-of-vc-behavior Further reading: Here’s a good post about when preferred converts to common, including in an IPO, as I brought up in this episode: https://www.startupventureadvisors.com/when-should-preferred-stock-be-automatically-converted-into-common-stock#:~:text=When%20a%20startup%20goes%20public,a%20minimum%20aggregate%20offering%20amount. Here’s a short but sweet summary of how VC carry works: https://www.angellist.com/learn/carried-interest Mark Suster has written some great material on understanding venture capital. His post on crossover investments will help you understand why VCs don’t tend to do them: https://bothsidesofthetable.com/can-vc-s-invest-across-two-funds-5ee7313808e7 Here’s a link to my own prior episode about recaps: https://threshold.vc/podcast/the-case-of-the-radical-recap/ And finally, I’ve linked to it before, and I’ll keep doing it – here’s a link to Evan Epstein’s great breakdown of private company governance to share with your VC if they are putting their own interests ahead of the company in your  board meetings: https://evan-epstein.medium.com/duties-of-startup-directors-and-the-rule-of-common-maximization-9a2814b2fe2a

    18 min

  3. APR 24

    Understanding Your Investor’s Zone of Indifference

    Founders need to understand investor priorities before they require investor action. The investor’s ‘zone of indifference’ describes an issue that can be problematic. In this episode, Heidi explains what it is, when it comes into play, and how to identify the likelihood of an investor landing in the ‘zone of indifference.'  More information: https://www.threshold.vc/podcast/understanding-your-investorrsquos-zone-of-indifference Further reading: As promised, here’s a post written by Evan Epstein about fiduciary duties of venture-backed directors. It’s a must read! https://evan-epstein.medium.com/duties-of-startup-directors-and-the-rule-of-common-maximization-9a2814b2fe2a And if you want to go deep on the seminal case on this topic, the Trados case, here’s an in-depth podcast about it with Evan and Vice Chancellor J. Travis Laster of the Delaware court: https://boardroom-governance.com/episodes/travis-laster Here’s a great primer on preferred stock: https://darroweverett.com/preferred-stock-primer-value-protective-provisions-analysis/#:~:text=Preferred%20stock%20sits%20between%20debt,liquidation%20events%20and%20dividend%20payouts" Here’s a breakdown of simple preferred versus participating preferred and how it impacts the zone of indifference: https://veecee.co/understanding-liquidation-preferences-and-the-zone-of-indifference

    18 min
  4. The Art of the Cold Email

    MAR 20

    The Art of the Cold Email

    Mastering cold emails is a superpower—one that can unlock dream investors, top-tier hires, and world-class mentors. The most successful founders craft messages that break through the noise and create opportunities. In this episode, Heidi shares the proven strategies she teaches at the Stanford Graduate School of Business to help you master the art of impactful outreach.  More information: https://www.threshold.vc/podcast/the-art-of-the-cold-email

    20 min
  5. The Case of the Elusive Earnout

    FEB 21

    The Case of the Elusive Earnout

    If you’re considering an earnout, you should know exactly what is involved to set expectations – and to give yourself the highest chance of it amounting to something. Heidi presents recent market data along with her firsthand experience to help you understand why earnouts are so challenging. More information: https://www.threshold.vc/podcast/the-case-of-the-elusive-earnout

    20 min
  6. How to be a Great Mentee

    JAN 23

    How to be a Great Mentee

    Successful entrepreneurs seek out mentors to positively impact their careers. But how do they find a mentor, initiate contact, and build a relationship? As an experienced mentor and mentee, Heidi believes all these questions can be answered by following her tips on becoming a great mentee.   More Information: https://www.threshold.vc/podcast/how-to-be-a-great-mentee   Further Reading:  I mentioned a bunch of organizations and resources in this episode, so here are the links to them: Fortune Brainstorm and other conferences: https://fortune.com/conferences TechCrunch Disrupt and other events: https://techcrunch.com/events Meetup Entrepreneurship groups: https://www.meetup.com/topics/entrepreneurship Startup Grind: https://about.startupgrind.com Founder Institute: https://fi.co Indie Hackers: https://www.indiehackers.com LinkedIn groups for entrepreneurs: https://www.linkedin.com/pulse/16-linkedin-groups-entrepreneurs-gs-kumar-job-search-trainer Techstars: https://www.techstars.com/communities Founders Network: https://foundersnetwork.com Reddit entrepreneurs subgroups: https://startupsavant.com/startup-center/best-subreddits-for-entrepreneurs and https://startupsavant.com/startup-center/best-subreddits-for-entrepreneurs And finally, here are first-person narratives on learning how to be interested, not interesting. There are similarities – but there’s something to learn in each one of them: https://www.jodymichael.com/blog/be-interested-not-interesting https://tybennett.com/be-interested-not-interesting https://www.jackysherman.com/networking-the-art-of-being-interested-not-interesting https://sunwords.com/2024/01/28/dont-be-interesting-be-interested

    18 min
  7. The Case of the Venture Debt Dilemma

    JAN 9

    The Case of the Venture Debt Dilemma

    All entrepreneurs should understand what venture debt is so they can make an informed decision to take it or not. Heidi poses a series of questions and scenarios to help founders know whether it’s a good option for their company. And if it is, how to set it up and use it.  More Information: https://www.threshold.vc/podcast/the-case-of-the-venture-debt-dilemma Further Reading: As I mentioned in the episode, General Catalyst has an interesting offering around a financing model for growth equity that is a hybrid of debt and equity: https://www.generalcatalyst.com/stories/the-unbundling-of-growth-equity Also, as mentioned, the next version of the SAFE has arrived in the form of a SAFERloan agreement, which allows for some repayment instead of conversion: https://www.liquiditygroup.com/resource-funding/what-is-the-safer-agreement Here’s a solid primer on debt covenants:https://www.lightercapital.com/blog/what-are-debt-covenants-on-a-loan#:~:text=A%20debt%20covenant%20lays%20out,more%20specific%20and%20complex%20requirements Finally, one thing I didn’t cover in the episode but is relevant to the decision-making about debt is that the lender may ask you to move all your banking business to their bank. And that can prove disastrous in situations like what happened to SVB. Here’s a great piece on that danger: https://www.linkedin.com/pulse/wake-svbs-collapse-some-tech-founders-turn-against-venture-tanya-dua

    20 min
  8. The Best Entrepreneurs are Great at Business

    12/05/2024

    The Best Entrepreneurs are Great at Business

    Many entrepreneurs start companies to solve a big problem or apply innovative technology, or both.  But when they fail, it’s typically the result of a business issue. Heidi has observed that founders usually run out of money because they didn’t pay close enough attention to running the company. Here, she shares practical advice to help entrepreneurs become great at business.  More information: https://www.threshold.vc/podcast/the-best-entrepreneurs-are-great-at-business

    19 min
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5
out of 5
45 Ratings

About

The Startup Solution tackles the make-or-break situations that entrepreneurs face, offering clear advice on how to survive and thrive in an early-stage company. Who’s it for? Founders, startup execs, and investors who want to learn from real-world situations, unpacked by Heidi Roizen, a “recovering" entrepreneur and current VC who has seen it all through 40 years and 40 boards. Heidi uses a case method to unpack a new situation in each episode, breaking down why it’s a big deal and talking about how it was solved or could have been solved. The situations are from her direct experience, though all names and details have been changed to uphold our commitment to the Entrepreneur Protection Program. Heidi has spent 40 years in the tech startup world, the first dozen years as an entrepreneur herself, and since then, 25 years as a venture capitalist. She’s served on over 40 boards, from seed stage to public companies. She also co-leads the Threshold Venture Fellows program at Stanford University and is a partner at Threshold Ventures.

Information

  • Creator
    Threshold Ventures
  • Years Active
    2023 - 2025
  • Episodes
    41
  • Rating
    Clean
  • Copyright
    © 2023
  • Show Website
    The Startup Solution

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