Juggling Fundraising While Building a Strong Team with Bruce Watanabe of PowerBuy

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English - January 07, 2022 01:34 - 21 minutes - 29.9 MB - ★★★★★ - 53 ratings
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Previous Episode: The Danger in Skipping the Interview for Internal Referrals with Todd Ausherman

Next Episode: How to Hire Through the Plague of Lying, Ghosting & Absurd Demands

People will only do something when it is in their own best interest AND aligns with our values.

This was a key takeaway for me from the book “What Got You Here, Won’t Get You There” by Marshall Goldsmith.

We talk a lot about aligning with values when hiring on this show. And almost everyone recognizes the importance but it is so often missed. Why?

First, the disdain that most of us share for hiring. Very few entrepreneurs enjoy the process of interviewing & hiring. But it is the single most important activity that YOU can get good at that will make the biggest impact in your organization.

Second, the path of least resistance is easy… But it is almost always the wrong path. We must remember that the purpose of the interview is to get to the TRUTH about the person no matter the source. And the truth you need to know is not in skills. It is in positioning and value alignment.

Bruce Watanabe is a serial entrepreneur whom has co-founded a number of technology and Internet ventures including, PowerBuy, MassGenie, SIRE Mobile (SMS Solutions), and SETA International (Global Systems Integrator & Solution Provider).

With over 20+ years of leadership experience ranging from start-ups to Fortune 10 companies, Bruce is proficient in corporate strategy, business development, sales, and channel development. He is actively building Powerset from the ashes of a pivot and is here to share his wisdom

Today we discuss:

Why it is important to prioritize the thing you hate most (interviewing)
How to balance raising capital while building a stellar team.

Challenge today?

People are the most important aspect of a company
As an early stage startup
Balancing generating revenue while getting financing
Need capital to hire the right people
Pivot the business to powerbyte
Lack of funding, resources
Have the grit to power through the pivot

Why is this important to the company?

Only a handful of people stayed
Believed in the vision- disrupting social commerce
CTO- grit / determination to power through

Relaunched the company
Second raise

Balance the valuation

Rick’s Nuggets

First recognize/admit that you have no idea how to hire (admit to your problem)
Prioritize getting good at InterviewingValues
Process
Evidence

How do we solve the problem?

Bringing the right team in place
Referrals- all interconnected
Advisors- only way to hire people
Vouch for someone
Advisors must be strong

Prefer a strong
At the end of the day, you can buy talent, you can't buy grit
Would love to get good at interviewing but …
Really hard to gauge if someone

Rick’s Nuggets

Take an active role in interviewingSeek to understand- filters down through the organization.
Poke holes & dig deep

Understanding positioningWhat does the person really want to do?
Desire = Passion
Does their desire align with my goalDon't be just a paycheck

Everyone gets the same interviewOften the best person for the business is the least like you
Evidence supports strong decision making

Key Takeaways that the Audience can plug into their business today! -Value:

Make sure you know who you are getting into bed with- have a great team
Know who your co-founders areIf you are friends, be prepared to lose them. Rarely a happy ending

Don’t hire on a resume/linkedin profile

Host Links:

LinkedIn: https://www.linkedin.com/in/rick-girard-07722/

Company: https://www.stridesearch.com/

Podcast: https://www.hirepowerradio.com

Authored: "Healing Career Wounds" https://amzn.to/3tGbtre

HireOS inquiry: [email protected]

Guest Links

LinkedIn https://www.linkedin.com/in/bruce-watanabe-5a661a4/

Company: https://linktr.ee/powerbuyapp

LinkedIn: https://www.linkedin.com/company/ppowerbuy/

Facebook: https://www.facebook.com/powerbuyapp