Scaling and Exiting Multiple Startups: Lessons in Entrepreneurship, Leadership, Burnout, Go To Market, Founder Identity with Thejo Kote
Uncharted Podcast
Deep Dive
What is Airbase, and what problem does it solve?
Airbase is a platform that helps businesses manage all non-payroll spending in a single system, known as spend management. It is an emerging category in the SMB and mid-market segments, aiming to streamline financial operations and improve efficiency.
Why did Thejo Kote decide to become an entrepreneur?
Thejo Kote decided to become an entrepreneur after realizing that working in large companies wasn't for him. He wanted to create something of his own, driven by his passion for technology and the desire to build products and teams. His move to Silicon Valley was motivated by the mature startup ecosystem there, which he believed would better support his entrepreneurial ambitions.
What lessons did Thejo Kote learn from his first startup, Automatic?
From his first startup, Automatic, Thejo Kote learned the importance of controlling his own destiny, especially as a venture-funded founder. He emphasized the need to avoid desperation in fundraising, the significance of culture and values, and the challenges of hiring and retaining high-quality teams in competitive markets like San Francisco. He also highlighted the psychological toll of intertwining personal identity with the company's success, which contributed to burnout.
How does Thejo Kote separate his identity from his company's success?
Thejo Kote separates his identity from his company's success by viewing Airbase as a separate entity from himself. This mental discipline allows him to evaluate the company objectively, make better decisions, and avoid burnout. He attributes this maturity to experience, personal growth, and life changes like marriage and having children.
Why does Thejo Kote prioritize transparency in his company?
Thejo Kote prioritizes transparency because he believes it builds trust, alignment, and ownership among employees. By sharing nearly all company information, including funding term sheets, he ensures that employees understand their role in the business and feel invested in its success. This approach fosters a culture of trust and accountability, which he believes leads to better long-term outcomes.
How did Thejo Kote validate the idea for Airbase before building the product?
Thejo Kote validated the idea for Airbase by spending six months speaking with dozens of CFOs and controllers to understand their pain points. He created low-fidelity mock-ups of the solution and presented them to potential customers, securing commitments from 10-12 customers before writing any code. This approach ensured he had a clear understanding of the problem and demand before investing in development.
What advice would Thejo Kote give to his younger self?
Thejo Kote would advise his younger self that hard work, preparation, and perseverance matter more than being the smartest person. He emphasizes the concept of 'earned luck,' where being prepared to seize opportunities is crucial for success. He also stresses the importance of staying committed to one's beliefs and goals.
- Thejo Kote's background in electrical engineering and his early career at Infosys.
- His decision to pursue entrepreneurship and his move to the US.
- His studies in human-computer interaction and user experience design.
- His focus on finding a problem he was passionate about before starting a company.
Shownotes Transcript