The Startup Chat With Steli And Hiten

In today’s episode of The Startup Chat, Steli and Hiten talk about strengths and weaknesses. They define how to identify, if your mindset, is set to say “I am really good at this, I’ll keep doing it” or “I am bad at this, I am going to get better”. They also look at how strengths and weaknesses can affect your employees and business. While strengths and weaknesses, can be a useful tool to assess our own or another person's skills. They are most useful, when paired in some way with an outcome. So if you want to be an athlete, you will have to train towards being the best and if you are in business you will have to hire to achieve your business outcomes. Tune into this week’s episode of The Startup Chat to see how strengths and weaknesses tie in to your life & business, If you are motivated to double down on one or fix the other. Steli and Hiten, also share some interesting insights into how to move forward from the strength and weakness paradigm within your business, to build and work with the best team possi

In today’s episode of The Startup Chat, Steli and Hiten talk about the lies that startup founders and staff tell to make their company look better than it really is. They highlight that lying has been and remains a commonly accepted way to communicate, popularised by successful startups and founders. This social acceptance has left founders without the awareness of how damaging lies are for the very thing that they are trying to protect, their company. Lying is defined as deliberately making a false statement with the intention of deceiving the person receiving the information. We have all heard the euphemism ‘fake it till you make it’, but appearing to be perfect isn’t believable for any business. Many founders see lying as part of the ‘day to day’ of keeping their startup running. But the value of being vulnerable and honest, may be the missing ingredient to resonating with the people most important to your company. Tune into this week’s episode of The Startup Chat to explore the question ‘Why do Startups L

In today’s episode of The Startup Chat, Steli and Hiten talk about hiring senior team members. They talk about different hiring strategies and how these strategies affect your business and the ability to achieve your businesses short and long term goals. Outcome driven hiring is a highly productive way to align your business goals with recruitment. This comprehensive hiring strategy not only allows for better communication between teams. It also gets rid of departmental silos which can create bottlenecks within the business. One of the main benefits is that everyone within the company has a clear direction. Tune into this week’s episode of The Startup Chat to learn about how to hire leaders for your business, how you can help them to succeed once they have come onboard and how to keep your business vision as the beacon which leads the way for your team. Steli and Hiten’s also speak about their personal experiences and give valid and actionable tips, for paving the way to help your new hires to succeed, on t

In today’s episode of The Startup Chat, Steli and Hiten talk about mindfulness. They highlight how mindfulness can be used to benefit you in your everyday life and business. Mindfulness can be defined as the process of bringing awareness to your experience as it occurs in the present moment. Often linked to the practices of meditation and yoga, Steli and Hiten look at how it can be redefined and introduced into all areas of your life. Tune into this week’s episode of The Startup Chat to learn about mindfulness, having a positive perspective in reaction to challenges and how to remain present in your business and life. Steli and Hiten, also highlight how negative emotions, have the power to disrupt productivity in your business. They show how mindfulness, could increase your awareness of these negative patterns, and share some simple action steps to get you started on eliminating them. Time Stamped Show Notes: 01:01 What is mindfulness. 04:17 The importance and benefit of breathing. 05:23 Why mindfulness

In today’s episode of The Startup Chat, Steli and Hiten talk about discount pricing strategy. They discuss the pros and cons of offering discounts as a start-up and they also discuss how to refuse discounts requests from customers.   A discount pricing strategy is a key part of your product marketing because it has the ability to greatly impact the amount of sales and profit that you make. Choosing the right pricing strategy for your business will not only help to sell your products but also improve your brands appearance in the marketplace. While a discount pricing strategy may be useful for driving sales in the short term, this approach when used long-term could have some unexpected effects on your brand image and the perceived value of your products. Tune into this week’s episode of The Startup Chat to hear the exclusive discussion on discount pricing and why, how and if a startup should offer discounts to their customers, as well as Steli and Hiten’s advice on how you should leverage discounts to get the

In today’s episode of The Startup Chat, Steli and Hiten talk about taking the time to remember your journey. They also talk about how self reflection can be used as a powerful tool to gain perspective and gratitude on your entrepreneurship journey. As an entrepreneur, it can be easy to rush forward without looking back but self-reflection is an essential tool for personal and professional success. Self-reflection gives you the opportunity to recognise your personal growth and can be a tool to motivate yourself towards identifying where you are going. Positive self reflection should highlight what has inspired you, what actions have brought you to where you are today and where have you grown from the lessons learnt from past mistakes. We are constantly changing and evolving, recognising how far you have come can be a powerful tool to drive you forward. Tune into this week’s episode of The Startup Chat to reveal how self reflection can be used in your life to empower your vision and fuel your growth. As well

Today on The Startup Chat, Steli and Hiten talk about email newsletters and why it’s important to your startup. In this day and age of social media, does email marketing still work? According to Steli and Hiten, the answer is yes and if you’re not sending out newsletters in your startup, you are missing out on a huge opportunity to connect with your audience and grow your business. In this episode, Steli and Hiten talk about newsletters, the value of them and why you should be emailing your mailing list consistently and much more. Time Stamped Show Notes: 00:00 - About today’s topic. 00:28 - Why we’re talking about today’s topic. 01:14 - Steli talks about one of his favorite Hiten Shaw quotes. 01:45 - Hiten talks about what great email is and tools you can use. 05:19 - Steli dives into what one-to-many emailing is. 07:41 - How to do newsletters the right way. 11:06 - Hiten gives a great tip on how to improve your email. 12:13 - Steli talks about how you should consume the emails that you receive. 14:00 - How

In this episode of The Startup Chat, Steli and Hiten talk about the most common product mistakes startups make when developing new products. Tons of new products are being developed all the time. While some products may end up being great, it’s inevitable that bad ones will get developed. What may seem like a brilliant idea on paper, often turns out to be a terrible idea when introduced in the real world. In this episode, Steli and Hiten talk about some common mistakes they see that can kill a product, the best way to avoid them and much more. Time Stamped Show Notes: 00:00 - About today’s topic 00:55 - Why this topic was chosen 01:34 - Hiten gives a background about a blog post he made on the subject. 03:13 - Hiten talks about the first mistake he and his team made when they developed a product that failed. 04:20 - Hiten talks about the second mistake made in developing that product. 05:13 - The third mistake that was made in developing that product. 07:56 - Steli highlights a mistakes he’s made in developin

Today on The Startup Chat, Steli and Hiten talk about why startups are allergic to processes and what they can do about it. A lot of startups have “process allergies” and this can be a hindrance to growth. The thought of building and setting up business  processes also adds pressure on founders. However, what they don’t realize is that every business activity is done through a process. In this episode, Steli and Hiten talk about “process allergy”, what it is, why most startups have it, and what founders can do to eliminate it. Listen until the end and get a chance to win a surprise from The Startup Chat! Time Stamped Show Notes: 00:28 – The reason we’re talking about today’s topic. 01:01 – What “process allergy” is and why startups have it. 02:23 – Hiten talks about what inexperience leads to. 03:07 – The general mantra processes. 03:59 – What a process really is. 05:17 – Why realizing you have a process is a powerful thing. 07:21 – The worst thing about creating processes. 08:54 – Hiten’s sug

Today on The Startup Chat, Steli and Hiten talk about the pace of hiring at a growing startup. As a founder, one of your most important tasks is managing your workforce. It's your job to make sure you have the right people - and the right number of people - to keep your company running smoothly, especially when you’re growing. In this episode, Steli and Hiten talk about the speed in which you should bring on new staff so that your company, what factors you should consider before hiring new people, the importance of getting the right person for the role you’re hiring for and much more. Time Stamped Show Notes: 00:44 – Steli’s reasons for choosing today’s topic. 02:18 – Why you should hire at the right pace. 03:58 – Hiten talks about “Just-In-Time Hiring” and what it means. 05:37 – Pace of hiring VS hiring the right people at the right time. 06:22 – Why you should use your outcomes to determine when to hire. 08:19 – The execution phase of hiring. 10:05 – Hiten’s gives his thoughts on the speed of hiring and the

Today on The Startup Chat, Steli and Hiten talk about the Virtual Summit that was organized by Steli and his team at Close.io, which you can check at InsideSalesSummit.com. Virtual summits are a trend that’s becoming very popular in the startup world. They are typically video interviews of 20 or more experts on a given topic, which viewers opt-in to watch. Most of the time, they are free for a limited time, however, organizers can add the option for subscribers to pay for unlimited viewing later. In this episode, Steli and Hiten talk about what virtual summits are, lessons they learned from organizing the inside sales summit, pros and cons of organizing one and what you should consider before organizing your own virtual summit. Time Stamped Show Notes: 00:37 – About Close’s virtual summit and Hiten’s interview. 01:49 – Steli talks about the Inside Sales Summit 03:51 – Lessons Steli learned from the summit. 05:59 – Why a lot of people were disappointed by Steli and his team. 07:45 – Steli’s shares ho

Today on The Startup Chat, Steli and Hiten talk about anger and how to deal with it at work and in your personal life. Being angry is an extremely powerful emotion. If you’re somebody that gets angry easily, you run the risk of being avoided by the people you love and work with. On the flip side, if you’re someone that bottles up your anger, you risk becoming a pressure cooker that will inevitably explode, which could cause you to behave in a way that you regret later. In this episode, Steli and Hiten share some insights on what anger is, reasons why people get angry and how to manage it if you do so that you don’t act in a way you regret later. Time Stamped Show Notes: 00:01 - About today’s topic. 00:34 - Why we talk about this topic today 00:50 - Hiten talks about his background and how he dealt with anger as a child. 02:30 - Steli also talks about his upbringing. 05:53 - How to move from one emotion to another in small steps. 08:15 – Reasons why people get angry. 09:55 – The biggest lesson Hiten has learn

Today on The Startup Chat, Steli and Hiten talk about how to start a tech business without a technical co-founder. It’s normal for entrepreneurs these days to want to start tech businesses, be it a cloud-based service, mobile app, or a social sharing platform. However, when you have an idea for a tech company, but no tech experience, bringing your idea to life might seem impossible at first. In this episode, Steli and Hiten share some tips for entrepreneurs looking to set-up thriving tech startups but don’t have any coding experience including tips on how to work with a developer for the first time. Time Stamped Show Notes: 00:01 – About today’s topic. 00:34 – Why we’re talking about this today. 01:35 – Why Hiten is the best person to talk about this topic. 03:53 – Hiten’s advice for starting a tech company when you’re not a techie. 04:15 – What Hiten did when he built his first tech company . 07:47 – Steli expands on Hiten’s point. 08:45 – What to do after you’ve found a developer. 10:52 – Steli highlights

In this special episode of The Startup Chat, Steli and Hiten are at Dreamforce and they talk about how and why you need to hire a head of culture at your startup, especially if your team members work remotely. Thanks to Jorge Soto and the team at First Cut for recording and editing the video! In today’s business world, a lot of startups are run as remote teams, and doing so has its benefits. Many studies have shown that remote working has valuable effects on employee productivity, happiness, and general well-being. However, there are some challenges of running a remote team and one of these challenges is creating a positive company culture with your team. This is where creating the position of head of culture can be beneficial for your startup. Tune in to hear Steli and Hiten’s recommendations for how to create the position of head of culture in your startup, when to create the role, what qualities to look out for when you hire for this role and much more. Time Stamped Show Notes: 00:24 About today’s topic. 0

Today on The Startup Chat, Steli and Hiten are in DreamForce and they talk about how to create a business ecosystem and shed some light on how to do this. Thanks to Jorge Soto and the team at First Cut for recording and editing the video! The startup world has changed remarkably in the past decade, and new advances in technology are paving the way for more revolution. Perhaps, one way technology has changed business the most is in the way we operate on a day to day basis, and tools like Zapier and IFTTT have been at the forefront of that. In today’s episode, Steli and Hiten talk about how you can build an ecosystem around your startup, how to make the right decisions when it comes to building ecosystems and things you should consider before building or joining an existing ecosystem. Time Stamped Show Notes: 00:35 – About today’s topic. 00:56 – How to build an ecosystem around your startup. 03:08 – What role APIs (Application Program Interface) play in today’s ecosystem. 03:53 – Steli shares how Close

Today on The Startup Chat, Steli and Hiten talk about the idea of nurturing talent internally vs hiring proven talent externally. When it comes to key positions that need to be filled at a company, founders are usually faced with the dilemma of nurturing talent within the company or hiring people with a proven track record. This decision typically depends on the amount of work a company is willing to do; nurturing talent means the company needs to put in time, effort, and resources in training its own staff while hiring one can be a much quicker process. In this episode, Steli and Hiten highlight the pros and cons of hiring proven talent from outside the company vs nurturing one from within. They also talk about reasons why some people aspire to management and leadership roles, what motivates people to do this and much more. Time Stamped Show Notes: 00:34 – About today’s topic. 02:56 – Steli is always big on potential and talent who always want to nurture people. 05:56 – Hiten thinks the decision is all about

Today on The Startup Chat, Steli and Hiten talk about company updates and the idea of updating people about the status of your company on a regular basis. Company updates are a great way to keep stakeholders up to date about your business, and as a founder or CEO, you might be thinking of doing this, even if you don’t have investors. In this episode, Steli and Hiten shed some light on what makes a great update, why doing so could be valuable for you and your business, and they share some tips on how you can present your updates in a meaningful way. Time Stamped Show Notes: 00:25 – Hiten talks about the idea of updating people outside of your company on a regular basis. 02:29 – Steli talks about a time when he did weekly updates to investors at his company. 05:06 – Steli talks about what company updates currently look like at Close.io. 07:18 – Why it’s important to have a reason to send out company updates. 07:53 – Why almost no company survives the 6th-month mark. 08:24 – The most challenging thin

Today on The Startup Chat, Steli and Hiten talk about what’s currently on every entrepreneur’s mind - the holiday season! For the most people, this time of year is a time for celebrating the holidays with family and friends. But for many founders and entrepreneurs, the end of the year is a time to reflect on the last year and think ahead to the new one. In this episode, Steli and Hiten talk about what you can do to use this time of year in the most productive way and make sure the new year is even more successful than the last. Time Stamped Show Notes: 00:36 – About today’s episode. 02:58 – Hiten talks about why this season is used as a time for reflection. 04:00 – Steli points out that everyone finishes the year with reflection and goal-setting. 05:03 – Steli shares an online discussion he participated in, in whether you should hustle or take a break through the holidays. 07:19 – Hiten points out that making such decisions personal to entrepreneurs. 08:05 – Why the decision to work or take a brea

Welcome to another episode of The Startup Chat with Steli and Hiten. This week we’re talking about the pros and cons of the Freemium pricing model in startups.    This Week’s Updates: Steli is getting ready to go on a 6 week trip to Europe.  Planning how to get stuff done on the trip and stay productive. Hiten is working on moving on from KISSmetrics and focusing on building out new software for Crazy Egg.  In this transition he’s seeing the benefit of using chat products like Slack instead of email. Today’s Topic:  Freemium Hiten says you must start a SaaS product with a free offering.  Steli doesn’t agree, and that’s why Close.io does not have a free pricing model. In the B2B space it’s important to set the expectation of paying up front instead of allowing users in the door without charging.  Unless you’re a massive scale product like Dropbox or Evernote it just doesn’t help move the business along. However, if you are thoughtful about free products, and don’t just throw something together this can be a su

On this episode we take a close look at the concept of Minimum Viable Product (MVP) and what it means and how to apply it to your business.  The concept sprang up during the early startup movement and has become a bit muddled in definition over time.  In a product development sense, it refers to the first thing you can release for a product in a minimal way that helps you start learning about your product and its viability. We share some examples of how startups can begin the process of testing an MVP and pitching a concept to get response from potential customers.  Testing often includes pitching something before release and before any real functionality. Topics discussed today include: Using information gathered from single features used by testers to help you move forward How to determine a Minimum Viable Product by working backward How emotional detachment is a necessary tool for success Why perception changes when customers look at actual products vs mockups How launching something that lacks f