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✔Pivoting as a Startup Aftershow SVS

Sergio Smirnoff 0:07

Hey, he'll welcome

Unknown 0:10

Sean. Sean. So, Jason, Sergio now that both of you have been on Silicon Valley successes, what do you wish we'd had time to talk about, or other information you think can really benefit startup founders, or the startup ecosystem, from your life experiences,

Jason Nyeh 0:28

and definitely are, we're probably start with the why we had mentioned before, different processes. So yes, pivoting is crucial. But also the process of the startup is also very important. What do you mean by process in terms of what are specific stages that within the learning curve

we need to know about. So then it will kind of streamline and removes that learning curve. So then it will be a lot faster to get into the market. So as all of us, you know, startups, we go through this entire huge curve to learn about everything. And, and, but if we, if there was a particular stages and processes, that's something that would be really crucial, especially within resources, where are those resources?

Sergio Smirnoff 1:26

So

I believe that now I mean, certain moment of my startup that is, like, things are like going crazy, and actually was talking with with Jason about that. It's like, sometimes you lose focus that everything that might happen is like, Hey, this is crazy if you take a look in perspective, but in the very moment, you feel like everything like is against you. And it's negative, because, well, I need to solve this problem. But actually, if you get through it, it's if you get a great outcome, it's not a problem, you're learning you're improving, you are taking advantage of opportunities is like, well, so actually, my background is in design. And we have this philosophy saying that, okay, if he has a solution, it's not a problem, okay. And if he doesn't have a solution is no problem either. Yeah. So when you say, well, that's the problem. Okay. Can you solve it? Yeah, well, it's not a problem. Well, doesn't have we did, we cannot solve it. Okay, so we need to change or pivot and we need to try to maybe a different angle, because in that way that we are trying to do it doesn't have a solution. Or maybe we didn't find it yet. So I would say we're talking with him about what was a crazy day, crazy week. And we are always like, losing the focus in what we are doing. Just for me, for example, just a chance to be here talking with you here at Silicon Valley. Well, it's a success itself. Yeah. So very grateful actually read it.

But I remember I remember for example, when we start chatting about your ideas to like doing these maybe new book or something was like two years ago, or a year ago. ish. And now actually, you're doing it. Yeah, yeah.

Unknown 3:21

And years later,

Sergio Smirnoff 3:26

maybe years, something nourish me. But what I'm saying is later, as an entrepreneurs, we set our own goals is nobody above us, and you have to do this. So when you said, this goal, will I need to achieve this. And if you feel that you cannot achieve that you feel bad. But actually, if you achieve it, if you're going through it, because you said that expectation for yourself. So that's why when you ask him, for example, well, why you are where you like to be an entrepreneur, because I love to set my own goals and expectations to myself, not somebody else to say for me, so. But in the fight in the battle, sometimes you lose the focus that as I said, that call so if it's not working, okay, let's find a way but always feeling that I mean, like, in a positive way, don't be like, over warm, because things are not going the way that it should be. Because you set that goal. So you should like embrace it will like joy. Make sense? Yeah. Yeah,

Jason Nyeh 4:39

it's crazy.

Sergio Smirnoff 4:45

You can say here,

Shawn Flynn 4:49

don't be surprised. That's on my link

Sergio Smirnoff 4:53

for you. You can use it. Yeah, I will love you to use it. But you have to say, say bye. I'm crazy. I'm like,

Jason Nyeh 5:03

exactly that. Yeah. Jason, anything else you'd like to add? Yeah, just just piggyback on what he said, definitely just is this journey and be part of that journey in you know, sometimes when we are going to, let's say, we're hiking in the hill of mountain right. And then when you're going through the journey of going up the mountain and once you get there, right, you see this big view and you like, Oh my god, this is amazing. But the climb to that hill were to see the Ville right may not be as pleasant but the so that's goes back with you know having our own business having a startup I would always go to in go through those journey and I'll be grateful for that journey so I could see the whole view and see the successes just like Silicon Valley successes you know seeing that the the goal of we're going in see that journey and this is phenomenal This is amazing I want to take this like

Sergio Smirnoff 6:09

this is great about Ron going up the hill is like sometimes until you get there you can see what's next and but

you need to get there embrace the journey but sometimes like entrepreneurs well when you get there okay that's the next mountain is not even higher so you actually you don't even like enjoy this very small moment because when you get there over this small hill okay now I have like this mountain in front I need to start climbing it and this go again for the journey but I think that sometimes somebody told me a long time ago you need to celebrate your small victories because you don't have like your boss saying hey good job yeah no maybe your friend your wife somebody you'd like so celebrating life gives good

that's what I'm saying no wife compliment but well so this small achievements at the end of the heel is like wow look down down the hidden well it was tough but I get there okay now gain energy and move forward to what's next but I feel like as he said is like the heel the the joy of the journey itself and but without losing perspective that you are going that direction because you said that fabrics for yourself you said that's all the mountain is like even like Higher Higher Higher okay this is what you will do fine but that's right

Jason Nyeh 7:48

yeah yeah I will continue to always yeah because I would never want to you know what they say is that I'm working for someone to make them rich you're working for us and then we become as much more humble and because of the journey and so I love that so I'll always choose the journey to to get the most definitely

Sergio Smirnoff 8:13

when I saw for example one of my first MVP some some month ago is like wow and it show it to somebody like I need works

wow that's pretty cool and it's not about money

it's not about like how hard was it's like well I have this crazy father in my mind and now we see here yeah yeah and actually

it's not even it's not only a real but it means something and it's you're like okay yeah yeah did you see it so it's like amazing okay let's let's

Jason Nyeh 8:57

have the entrepreneurial spirit that is you're willing to take the the journey take a risk even diving don't have to get paid for it because you want to see that yeah see it live totally having others you for enjoying it and using it and that's the

Sergio Smirnoff 9:17

arrows

just fine why number

Unknown 9:30

one

Unknown 9:33

exactly

Sergio Smirnoff 9:39

Of course because what we're building like business we're building products and problem should be like sale and people should buy it by the same time is as he said it's like just the joy of like the rebrand something that people is interest to us is like, wow, you like makes you feel well, I believe that's the spirit of the real entrepreneur.

✔Pivoting as a startup, Last Advice Ep 9 8/8

0:01

Or what advice would you like to give you two years ago? Well, I would say that always you have to listen. But listen, in a, in a proactive way. Sometimes you you feel like you are listening. And you are maybe just talking with somebody explain your idea as I just did. And you are actually more focused in what you're saying that actually actively listen, what do you have to say from it. And of course, you cannot change or pivot every time you hear something from somebody because it was like, You never like, get on track. It's impossible. But you need to real is like, Okay, if I had that feedback from one to 1020 people, what's going on here? I need to real Okay, said this, okay, what's going on? If there's so many people saying to me something in a certain way, okay, that means something because I'm not building a product for myself. This is like an artist, I can, like, draw a picture that's, I'm an artist. And if you like it, or you don't, it's not my thing. I do my feeling today, I express myself and art but a product is something that you want the public or your customer to use it to buy it to engage with. So if you actually don't listen what you have, when they what they have to say about it. But again, it's like really listen and do something about it. And this is mostly Something about like leaning and pivot is like learned from or maybe it's not just a customer's listen or dig into the history Okay, other companies in my space, what happened with them, why they change why they failed,

1:55

why they were acquire, how much research Do you do into other things companies,

2:02

but I might sell for days what I'm doing now a lot I tried to learn from the successes but also from the failures mostly from the failures and for example from some acquisitions is some companies in my space they were acquired by big companies I'm going to say some some people might say oh that was less a great success well probably in million about money maybe yes but you need to learn from there so with that

2:33

Jason Can you tell the audience one more time how they can reach you at the best way to reach you and a little bit of your company one more time yes they can reach me at my email Jay and y e h at ease on e a c di n e.com and again is within the travel hospitality industry

2:55

surgery You can reach me at my email is Sergio like a lot of surgeries floral at red lines app.com. And what my company's doing right now is trying to change all the network interaction from people from the last two centuries to this one right. I would like to thank everyone at home for viewing this episode of Silicon Valley successes. On our next episode, we're going to have two special guests here morons. Caesar will talk about diversity and inclusion in the workplace. And it's pretty fascinating, pretty fast in an episode we have coming for you. So once again, thank you. My name is Sean Flynn. And have a great day.

3:40

Thank you. From all of us at Silicon Valley successes. We hope you found the information presented today useful in your path to success. For further information on accessing the resources in Silicon Valley. You may visit us on the web

3:53

at Silicon Valley successes.com on Facebook and YouTube. Thank you. And remember, we want to help you in your journey to become the next success.

✔Pivoting as a startup, The importance of listening Ep 9 7/8

0:00

Has anyone been in that situation where maybe the company you're thinking, maybe we need to pivot when reality just need to replace someone on the team?

0:10

Yeah,

0:11

what happened there? Well,

0:15

a guy

0:17

hypothetically speaking in Paul,

0:21

let's say, for argument's sake,

0:24

in a team of three or four people

will realize that certain position, we have a person that for certain amount of time, in in certain path of growth will work. And it's going to, like, fit that path in that very moment. But in certain moment, when the company like have like a quantum leap, we need to jump for that guy maybe wasn't the right fit there, because he wasn't able to catch up because of the needs of the company. So great opportunity. This came up and he's like, Okay, this guy, john paul is like, Okay, how can you handle this? Can you do that, in this amount of time, we have a, an amazing opportunity, huge situation, okay, let's take advantage of it, that he couldn't catch up. So

as a company as the people who wants to move forward, and maybe need to, like less sleeping hours, like, sacrificing like, yeah, entertainment, because this is what you do. When you go for a startup, you spend your own, like entertainment rest. So if somebody is not, like, open to do that. And when you realize that you have, like, amazing chances to, like, actually succeed. And at least like small successes, you need to find a way to move forward and bring somebody who can actually be dad level for this next stage of the company.

2:03

Interesting. And actually, both of you, Jason, can you talk about currently the project you're working on? And then Sergio, could you tell everyone a little bit what you're currently working on?

2:13

Yes. Um, one of the projects that I'm working on is definitely a travel hospitality type of application that to help people to understand what are those type of resources within dear when they travel. So they can actually utilize those resources as if they were a local in the actually Taylor's within the restaurant to the hospitality industry to a lot more events and kind of festivities so they know where to go within also their own language

2:48

interest in Sergio. So cool,

2:52

well then work in its startup. And what we are doing is trying to move the network and process into the 21st century trying to connect people but based on artificial intelligence, so you can start getting like connection based on real interest and backgrounds and everything starts from we're changing the way people like shake hands and introduce themselves since the very moment when you exchange a business card, like something that's going on from the last like 400 years.

So we are changing this like human behavior and it's going to take some time for sure. But we are moving this interaction from a paper business card it printed one to a phone and mobile phone like everybody has a phone so from there you are exchanging your contact info and from there we start building a network that you can like, get like real benefits of it.

✔Pivoting as a startup, Replacing team members Ep 9 6/8

0:00

Okay, we've talked about pivoting, we've talked about your team, what is it a team meeting look like, kind of the planning of a pivot. Are there step guidelines that you follow? Do you normally plan, you know, CTO? Does this CFO does this I do this for the next week, what does it look like for someone that's that's not in that room?

0:23

Well, it kind of looks more of course, which I'm making more fun

0:29

and you know, not too serious you know, of course but everybody first of course realize the vision and knows what to do but is very important to have a strategic plan and then we kind of outline it before any meeting is very crucial to also have an agenda what we're going to you know discuss we're going to talk about and we will have all the team formerly in the same room Dan most importantly is to write everything down and outline it once you write things down in outline it it becomes more tangible everybody likes to see more more instead of intangible things LSE tangible things. So you, you see things guide it within the outline. So what my task would be what, you know, the CEO tasks will be the CFO tasks would be the CMO tasks will be then if you spread it out to do a specific task and what doing be targeting to achieve and execute to the given vision and given path that we're going to go for,

1:32

as a startup? Would you say you have to be kind of self managing for being micromanaged. I mean, there's no one on the team to really manage even though there is that CEO structure you know, he's at the top with just three or four people

1:48

everyone more or less as equals correct

1:51

right. So who manages who and who really can can push your drive the team I believe is more having the discipline for each other to trust each other as a team to know what are the task and what are each person duties are and if they don't do it then we all of us all three of us will have to be accountable for each other's so like oh you can do it like what's going on how come and then you have to definitely have to have a transparent kind of discussion and once you have that then you can actually flow towards the right direction I don't believe that it should be just one individual I believe because everybody is have their own talent or experience in expertise so then we once we formulate and all work all together and not micromanage other like that Dan, he actually become much more successful and we can proceed to the next level.

✔Pivoting as a startup, What does a team meeting look like Ep9 5/8

0:00

surgery? Have you heard any stories of

0:03

a team that didn't want to pivot or pivoted in the wrong direction? I guess

0:10

in the wrong one? I'm not sure I remember a good one. Okay. Tell a story. Yeah, well I don't know if you're familiar with that. It's like when Facebook's are growing its many people know about it. It's like soccer Berg get the entire university under Facebook and he wants to add new universities to the network. But everything nobody wants to add somebody from outside because they believe that that university was like an elite thing. So I he said What, what? Where? When did you make the decision to actually listen to like investors customers when so sometimes you have to follow your God or don't. So this guy Mark took the decision to bring more comp more universities in besides what all the people in the network said against that. But more people he brought in the network grow better and stronger. So going back to what he said about Okay, we need to hear everybody. But if you have the long term vision, what do you want for in the long term, I would say it's the kind of people that this network startup get small thing for one college, one university, and then they start like, changing and adapting to make it like bigger, so they change what a let's go for more people how we can make it happen. So they grow

based on exactly that bringing all of these people against what the people they already have in the network didn't want to. So it's, it's a weird thing is, well, I need to listen, I don't need to listen. But if you have like a strong point of view, and you'll have like to fight against like 2.5,

I would say, well, that's why you said like a CEO would certain kind of like stocks and and wherever the founders in certain point, you need to like vote to pivot or not to pivot in well, straightforward. But going back to your previous question, one say, Okay, these guys need to go move out, split the company or don't I believe you should have like a strong team. That's the more basic thing and if we all agree, let's say we are a team, we all agree okay. That's the vision and sometimes maybe

you need to people to get their evenly know in that that is not going to be your real life business. So we get there changing here, but still knowing that we want to get there and we're going to change again. Okay. Yeah. So it is is something that the LinkedIn founders said many times is you you do things that doesn't grow to get there. So it's like

3:10

interesting. Yeah, very interesting. And if you want more information, you can visit our website Silicon Valley successes. com. Once again, that's Silicon Valley success is calm. We have all our episodes information and a lot more resources for you at home. So back to Jason. Question for you.

✔Pivoting as a startup, Facebook growing Ep9 4/8

0:00

About that, for startups, early stage companies, the teams are very small. Who's making the decision to pivot? Is it the founder, the team, potential investors, feedback from customers who's kind of guide in this?

0:15

Well, I believe it will be more on all or so sorts of factors that you will make a decision because it shouldn't be solely yourself as a start up, because I previously my ex

0:31

was my real life stories, but then alter the

0:35

Okay, is a business partner,

0:41

he or she may have

0:45

made most of the decisions. And even when we already got a lot of information, feedback from the market, and what the decision should be, which would make more sense. He didn't listen to any of us, and he's made the decision then after he made this decision. He's he finally realized that, Oh, you guys were right. So that actually cost us a lot, you know, time money and so forth. So if best way to put it is to actually have everybody could easily be within the team. And we all make the decision together and see who you know, to make a correct. So

1:26

in a situation like that. So you had a team of three, two people wanted to move forward in one direction. And one guy overpowered the other two and was making all the decisions.

1:39

Yes? What happens is that I mean, it's such a small team, I mean, everyone's doing everything.

1:45

In some cases, do you think you would get rid of that one person from the team or replace that one person or separate the company or just go hey, you know, he wants this we're even though we don't believe it's the right way. We're still you're gonna fall like, how, how's the decision process there? Why did he get more power than the two of you guys? Did he put more money in? Did he just yell more like what happened?

2:10

So we're having was that he actually burned a lot of money

to be exact, about 2.5 million. So that's where it becomes more real. And then we had to pivot probably like twice quickly to get him out of the equation and tried to catch up on everything that we have, you know, kind of put for fallen into the company. So that's this a huge huge learning curve that not to do

2:45

or so what did the investors say during this whole time when they saw the money being burned?

2:49

Oh, so we'll talk about that

2:53

they actually Well, of course, they were upset and we just had to learn from our mistakes, kind of made sure and talk to investors, we should that we want to, you know, kind of make it right, and this is our strategy and plan moving forward and what would be a strategy plan and that's how we kind of pivot on the right direction to move forward so then it will be much more successful.

Pivoting as a startup, Who decides on pivoting Ep9 3/8

0:00

About that, for startups, early stage companies, the teams are very small. Who's making the decision to pivot? Is it the founder, the team, potential investors, feedback from customers who's kind of guide in this?

0:15

Well, I believe it will be more on all or so sorts of factors that you will make a decision because it shouldn't be solely yourself as a start up, because I previously my ex

0:31

was my real life stories, but then alter the

0:35

Okay, is a business partner,

0:41

he or she may have

0:45

made most of the decisions. And even when we already got a lot of information, feedback from the market, and what the decision should be, which would make more sense. He didn't listen to any of us, and he's made the decision then after he made this decision. He's he finally realized that, Oh, you guys were right. So that actually cost us a lot, you know, time money and so forth. So if best way to put it is to actually have everybody could easily be within the team. And we all make the decision together and see who you know, to make a correct. So

1:26

in a situation like that. So you had a team of three, two people wanted to move forward in one direction. And one guy overpowered the other two and was making all the decisions.

1:39

Yes? What happens is that I mean, it's such a small team, I mean, everyone's doing everything.

1:45

In some cases, do you think you would get rid of that one person from the team or replace that one person or separate the company or just go hey, you know, he wants this we're even though we don't believe it's the right way. We're still you're gonna fall like, how, how's the decision process there? Why did he get more power than the two of you guys? Did he put more money in? Did he just yell more like what happened?

2:10

So we're having was that he actually burned a lot of money

2:17

to be exact, about 2.5 million. So that's where it becomes more real. And then we had to pivot probably like twice quickly to get him out of the equation and tried to catch up on everything that we have, you know, kind of put for fallen into the company. So that's this a huge huge learning curve that not to do

2:45

or so what did the investors say during this whole time when they saw the money being burned?

2:49

Oh, so we'll talk about that

2:53

they actually Well, of course, they were upset and we just had to learn from our mistakes, kind of made sure and talk to investors, we should that we want to, you know, kind of make it right, and this is our strategy and plan moving forward and what would be a strategy plan and that's how we kind of pivot on the right direction to move forward so then it will be much more successful.

Pivoting as a Startup, What is Lean Process Ep 9 2/8

Sergio Smirnoff 0:00

Something that just happened because it's an this lean process when you learn some things, the lean process, though, yeah, that labor, it's like, okay, you do something you presented, you show it to your customers, you get feedback, you learn. So from this learning, you need to change to adapt, you presented again, and so on. So it's like a positive circle of like, getting better and better what you're doing to get the right fit for your customer. Because the same time you're looking for a long term vision, not stuck in certain kinds of features. Because I'm stuck in certain feature all I believe that that feature is going to like crush it is going to be amazing. But if I lose the long term, the big vision, as Jason said, I'm focusing in something that the public is may or may not be interested, maybe today, maybe in the future will be. But to get there, I need to learn from them today. That's the lean thing you get. They're learning and changing and adapting. So yes, pivoting somehow.

Jason Nyeh 1:05

So more. So within just to piggyback off of what he was saying, also, to have a strategic plan and strategize as well as pivoting while you're doing it. I'm giving example such as chest once you bought to move a piece right, or make a move within the market or within your business, you always have to see the other component components, you know, in terms of not just competitors, but what's going to happen once you make that move, what are the other things that is going to be in place and then how are you going to take your next move, so, then you kind of for see it already, but once you make that move and such as whatever such and such happens, then you are kind of foresee it. Then you kind of pivoted to make the right move and you learn from it. So that's a really good example.