VC Minute Weekly Recap: Long-Time Startup CEO & Author, Matt Blumberg
Three post-funding mistakes. Preparing to fire & hire after completing a raise. Building a board and utilizing fractional talent.
Matt Blumberg has done a tremendous amount of work to share his wisdom with the rest of the startup world. He's a multiple-time founder with 25+ years experience in VC-backed startups. He’s the author of multiple startup books and the host of The Daily Bolster podcast—and awesome pod that every founder should sub to.
He also invited me to be on his podcast, which you can listen to here.
Matt did an excellent job sharing succinct insights. It’s hard to summarize into three takeaways, but here are some things to ponder:
On post-funding mistakes: you’re running startup, not a money-printing machine. Know your cash position.
On team: start your hiring process before you close your round, otherwise you lose precious time (and runway) until you can fill key roles.
On boards: reach high to bring in a strong independent board member.
VC Minute focuses so much on fundraising—for obvious reasons—so it was great to get some post-fundraise advice. What would you add for founders after the fundraise?
Episode Summaries
Post-Funding Mistakes: Under Reporting
Avoid a critical post-funding mistake! Matt warns startup CEOs about the dangers of underreporting.
Post-Funding Mistakes: Over-Spending and Not Forecasting Cash
Matt Blumberg dives into two vital post-funding pitfalls: overspending and neglecting cash forecasts. Learn how to stay frugal and keep your cash flow in check.
Prep to Hire and Fire During Your Fundraise
Discover the importance of recruiting during fundraising. Matt explains how to align hiring efforts with funding and evaluate your team for startup success.
Reach High to Build an Amazing Board of Independent Directors
Discover the art of forming a strong board of independent directors. Ensure a balanced board from day one for startup success.
Utilize Fractional Talent To Access Experienced Executives
Matt highlights the trend of fractional talent for startups. Learn to make smart hiring decisions and use part-time experts effectively.