Key insights

• 💼 Challenges in the early days involved cold emailing and facing rejections from VC firms
• 📈 Contrary to popular belief, difficulty of running a company may plateau as a strong team is built to handle challenges
• 👥 Emphasizes the importance of building a strong team to navigate challenges and sustain the company's growth
• 🔄 Shift focus from user base growth to revenue and business sustainability
• 🎯 Emphasize the importance of creating a user-friendly product with the ability to iterate based on feedback
• 🏢 Consider the significant impact of company culture on the success and longevity of a startup
• 🔍 Culture fit is about aligning with the company's long-term values, not just getting along
• 🔓 Transparency and scrappiness are core values at the company

Q&A

• What is the advice regarding staying motivated and focused as a startup?

  Stay thrifty, scrappy, and lean in business. Reject startup lore as unnecessary for recruitment. Stay motivated by remembering the initial purpose and making a difference in users' lives.

• What are the core values emphasized at The Muse?

  Transparency and scrappiness are core values at the company. They share board decks and full company budget details with the entire company after every board meeting, communicate the use of raised capital through a 20-slide PowerPoint deck discussing budget breakdown, and facilitate open conversation and trade-offs within the company.

• What does culture fit in hiring encompass?

  Culture fit is about aligning with the company's long-term values, not just getting along. It's crucial to be authentic about core values and recognize that culture is reflected in behavior, not just words. Hypocrisy in culture can negatively impact employees.

• What are the key aspects of building a sustainable business according to Kathryn Minshew?

  Focus on creating a user-friendly product with the ability to iterate based on feedback, emphasizing the importance of releasing a product into the market rather than pursuing perfection from the start, considering the significant impact of company culture on the success and longevity of a startup, and investing time and effort in hiring based on core values and maintaining positive behavior within the company culture.

• What factors should be prioritized as a company grows?

  Focus on the right things as the company grows, prioritize what prevents growth, and adapt focus by the stage of the company. Shift focus from user base growth to revenue and business sustainability.

• What is emphasized regarding the importance of building a strong team?

  Emphasizes the importance of building a strong team to navigate challenges and sustain the company's growth.

• Does running a company always get harder over time?

  Contrary to popular belief, the difficulty of running a company may plateau as a team is built to handle challenges.

• What were the initial challenges faced by The Muse in its early days?

  Challenges in the early days involved cold emailing and facing rejections from VC firms.

• 00:07 Kathryn Minshew, co-founder of The Muse, shares insights from her experience in the tech startup world and Silicon Valley, highlighting the misconceptions about building and maintaining a company. She emphasizes that while challenges persist, it doesn't always get harder, and building a strong team is crucial for long-term success.
• 02:47 Focus on the right things as the company grows, prioritize what prevents growth, and adapt focus by the stage of the company. Shift focus from user base growth to revenue and business sustainability.
• 05:21 Developing a user-friendly product, accepting feedback, and prioritizing culture are crucial for startup success. Emphasizing both product iteration and cultivating a strong company culture are key aspects of building a sustainable business.
• 07:55 Culture fit in hiring is not just about getting along with a candidate, but about assessing if they align with the company's values for long-term success. It's important to be authentic about core values, and culture is reflected in behavior, not just what is said. Hypocrisy in culture can have negative effects on employees.
• 10:26 Transparency and scrappiness are important values at the company. They share board decks, run through the full company budget, and discuss the use of raised capital with the entire company to maintain transparency and uphold scrappiness. This approach facilitates open conversations and trade-offs within the company.
• 12:52 Stay thrifty, scrappy, and lean. Say no to startup lore. Stay motivated by remembering why you started and making a difference in users' lives.