Episode 15 of Growing For It with Carsten Vestermark

*Full disclosure: Carsten is one of the main sponsors of the podcast through his business Vestermark Consult*

Carsten Vestermark discusses his career journey, emphasizing the importance of accepting responsibility and adapting to new roles. He has conducted around 1500 interviews and hired over 100 people, highlighting the significance of identifying "A players" through their past experiences and reflective abilities. Vestermark shared insights on handling firings, stressing the need for preparation, clear communication, and managing emotions. He also underscored the value of gratitude and continuous improvement, advocating for a mindset that seeks to make a positive impact rather than complain. His approach to leadership involves fostering a supportive environment and encouraging employees to take initiative. The discussion focused on effective management and feedback techniques, emphasizing the importance of timely, honest, and respectful communication. Key points included the necessity of immediate feedback to prevent escalation of emotions, the significance of having a bench of potential hires, and the impact of cultural fit on team performance. The conversation also highlighted the challenges of scaling a team without compromising standards, the importance of clear communication in recruiting, and the need for long-term planning in HR. Additionally, the conversation touched on the ethical considerations of firing employees and the benefits of a positive work culture.

Key take-aways

1. Embrace an Unconventional Career Path: Carsten's journey shows that a lack of a clear plan can lead to unexpected opportunities for growth and development. Being open to new experiences can be a strength.
2. Cultivate Emotional Intelligence: Carsten's personal loss early in his career sparked a deep interest in understanding people and their motivations. Developing self-awareness and empathy are crucial leadership skills.
3. Focus on Hiring for Cultural Fit: Carsten emphasizes the importance of not compromising on cultural fit when scaling a team, even if it means being more selective with hires. Building the right team culture is critical.
4. Provide Honest, Timely Feedback: Carsten believes in giving feedback immediately, both positive and negative. This helps maintain clear expectations and empowers employees to improve.
5. Approach Difficult Decisions with Empathy: When it comes to letting people go, Carsten stresses the importance of having a structured process while also treating departing employees with respect and care.

If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Also be sure to check out Carsten on LinkedIn:

https://www.linkedin.com/in/carsten-vestermark-76a9001/

Thanks to our sponsors:

Shaping New...

Episode 14 of Growing For It with Jannik Olander

Jannik Olander, CEO and founder of Nialaya, discusses his entrepreneurial journey from Denmark to Los Angeles. He emphasizes the importance of hard work, ambition, and resilience in entrepreneurship. Jannik's early experiences included working on a farm in Denmark and being inspired by fashion magazines. He moved to London at 18, worked in various roles, and eventually returned to Denmark to manage Ralph Lauren stores. He later expanded to Tommy Hilfiger and Polo Jeans, managing many stores in Illum's department store. Jannik also ventured into outlet stores and a T-shirt business, highlighting the challenges and successes in his diverse entrepreneurial endeavors. Jannik also underwent near bankruptcy, moved to the states, and began a jewelry fashion brand. His brand Nialaya gained traction, particularly after meeting P. Diddy and other celebrities although the brand faced legal challenges from a competitor but survived. Jannik emphasizes the importance of hard work, leading to significant growth and a shift from celebrity-focused to influencer-focused marketing. Today, the brand is internationally recognized, with a strong online presence and a vision for future expansion. Jannik discusses his vision of expanding his business to Copenhagen or London. He also emphasizes the importance of maintaining a healthy lifestyle, crediting his 27-year-old wife for her influence. He reflects on past financial mistakes, advocating for savings and cautious spending. Yannick contrasts the social dynamics in Denmark and the US, noting the openness and networking opportunities in LA. He expresses concerns about the current economic climate, comparing it to 2008. Lastly, he contemplates the challenges of raising children in LA, considering a move to Malibu for a safer environment.

If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Be sure to check out Jannik on LinkedIn

https://www.linkedin.com/in/jannikolander/

Thanks to our sponsors:

Shaping New Tomorrow

State Energy

Vestermark Consult

Chapters

[0:00 - 10:00] Jannik's Entrepreneurial Journey Begins

[10:00 - 20:00] From the Countryside to the City

[20:00 - 30:00] Embracing the Entrepreneurial Spirit

[30:00 - 40:00] Building a Retail Empire in Copenhagen

[40:00 - 50:00] Expanding Through Outlet Stores and New Ventures

[50:00 - 1:00:00] Lessons Learned: Challenges and Resilience

[1:00:00 - 1:10:00] Selling Stores and Pursuing New Opportunities

[1:10:00 - 1:20:00] A Fresh Start in New York and the Breakup

[1:20:00 - 1:30:00] Launching the Nialaya Jewelry Brand in Los Angeles

[1:30:00 - 1:40:00] Nialaya's Rise: Celebrity...

Episode 13 of Growing For It with Iris Isabella Engelund.

In this episode we welcome Iris Isabella Engelund, CEO of Play Your Talent. Engelund discusses her mission to help organizations identify and leverage employee talents to boost performance and satisfaction. Play Your Talent is an innovative app that identifies top and non-talents in 12 minutes, enabling leaders to optimize team roles. Iris emphasizes the importance of using talents that align with personal interests, which can increase performance up to six times. She shares her personal journey of discovering her strategic talent and the challenges of fundraising and managing IT development. Iris highlights the need for leaders to understand and manage team dynamics effectively, using Play Your Talent's tools and programs to enhance motivation and productivity. Iris Isabella Engelund discusses her journey from a fitness instructor to a successful keynote speaker and entrepreneur. She emphasizes the importance of persistence, strategic planning, and leveraging personal networks. Iris shares her approach to overcoming rejection by seeking solutions and maintaining a positive mindset. She highlights the significance of discovering and utilizing one's talents, balancing work with personal life, and the value of breath work and physical activities. Iris also touches on the challenges women face in entrepreneurship and advises against self-doubt, encouraging entrepreneurs to embrace their unique strengths and seek support when needed.

Key take-aways:

1. Identifying and leveraging individual talents is crucial for both personal and organizational success. The Play Your Talent tool provides a practical way to do this.
2. Managing diversity and different working styles within a team requires understanding each person's "cookie structure" and finding ways to bridge the gaps.
3. Entrepreneurship requires persistence, strategic thinking, and the willingness to take calculated risks and seek help when needed.
4. Finding meaning and fulfillment in one's work, rather than just focusing on weaknesses, is a more effective path to high performance.
5. Maintaining a healthy work-life balance through activities, routines, and a supportive network is important for entrepreneurs to avoid burnout and sustain their drive.

If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Be sure to check out Iris on LinkedIn:

https://www.linkedin.com/in/irisengelund

Thanks to our sponsors:

Shaping New Tomorrow

State Energy

Vestermark Consult

Chapters:

[0:00 - 5:00] Introduction to Play Your Talent and Iris Engelund

[5:01 - 10:00] Understanding Talents and Non-Talents

[10:01 - 15:00] Bridging the Talent Divide in...

Episode 12 of Growing For It with Peter Sorgenfrei.

Peter Sorgenfrei, a serial entrepreneur, multiple CEO, turned CEO coach, discusses his journey from founding six companies to helping other CEOs navigate stress and burnout. He emphasizes the importance of mental health, transparency, and trust in leadership. Peter shares his method of coaching, which involves asking the right questions to help clients find their own solutions. He also highlights the significance of personal relationships, advocating for radical transparency and regular check-ins with partners. Peter's approach includes creating a supportive environment for CEOs and founders, ensuring they can balance personal and professional lives effectively. Peter Sorgenfrei emphasizes the importance of taking action and being transparent in both personal and professional relationships. He advises founders to be candid with investors, ensuring a good fit and transparency. For fundraising, he suggests a structured approach, focusing on clear communication and understanding investor remits. He also highlights the significance of maintaining regular communication with board members and investors. On personal resilience, Peter stresses the importance of routines like cold plunges, meditation, and napping. He shares his experiences with overcoming stress and the impact of his upbringing, advocating for open communication and understanding in both personal and professional settings.

Key Take-Aways:

• Prioritize mental health and well-being for founders and CEOs - Boards and investors should actively support the mental health of company leaders, as their personal struggles can significantly impact the business.
• Build trust and transparency with your board - Maintain regular communication with board members outside of formal meetings, and be open about both successes and challenges to avoid surprises.
• Focus on hiring the right people, not just filling roles - Take the time to ensure new hires are the right fit, as they can make or break a fast-growing company.
• Integrate work and life, don't just balance them - Establish routines and boundaries that allow you to be present in both your personal and professional life.
• Be radically candid in your communication - Embrace honesty and vulnerability to build stronger relationships, even if it means having difficult conversations.

If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Be sure to check out Peter Sorgenfrei on LinkedIn:

https://www.linkedin.com/in/sorgenfrei/

Thanks to our sponsors:

Shaping New Tomorrow

State Energy

Vestermark Consult

Chapters:

[00:05:00] From Successful CEO to Burned Out

[00:10:00] Discovering a New Calling

Episode 11 of Growing For It - Coffee Talk #6 With Mik & Trav

Mikkel and Travis discuss their experience with "shiny object syndrome" after securing new funding in early 2021. They emphasize the importance of a comprehensive budget and the need for a professional office environment to attract employees. They initially considered an IPO, influenced by their investor Peter, but later decided against it after advice from experienced board members. Despite securing a $1.5 million contract, it fell through, leading to financial strain. They highlight the importance of trusting one's gut and having multiple mentors guidance.

Key take-aways:

• Comprehensive budgeting and planning is crucial when scaling a startup, including accounting for small but important details like office supplies and equipment.
• Founders should be cautious about over-optimistic financial projections and be willing to challenge advice from investors, even experienced ones.
• Building an advisory board with seasoned industry experts can provide valuable guidance and help founders avoid costly mistakes, like pursuing an IPO prematurely.
• Transparent communication with investors, highlighting both successes and challenges, is important for building trust and getting the right support.
• Cash flow management is a constant challenge for hardware startups, requiring founders to be proactive about fundraising to ensure the business can continue operating.

If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Thanks to our sponsors:

Shaping New Tomorrow

State Energy

Vestermark Consult

Chapters:

[0:00:00] Introduction - Shiny Object Syndrome

[0:02:08] Comprehensive Budgeting and Office Environment

[0:04:41] Mindset Shift and Investor Influence

[0:06:10] Optimistic Budgeting and IPO Considerations

[0:11:22] IPO Planning and Initial Challenges

[0:15:12] Contract Fallout and Communication Issues

[0:18:27] Advisory Board and IPO Decision

[0:24:20] Cash Flow Issues and Fundraising Decisions

Episode 10 of Growing For It with Anne-Louise Thon

In this episode, we welcome Anne-Louise Thon, a seasoned investor and VC partner. Anne-Louise shares her insights on what makes or breaks a startup's chances of getting funded by her VC firm, Vår Ventures (Vaar Ventures). She also reflects on her adventures experiencing different cultures around the world, and how those experiences have shaped her approach to investing.

One of the key highlights includes Anna's pivotal moment working in Zimbabwe for 2 years, which shifted her perspective on the importance of supporting entrepreneurs and building businesses over traditional aid. She also discusses the challenges she faced implementing Western-style working conditions in Chinese factories, as workers preferred higher pay over improved facilities.

Anna goes on to share how she and her partners built one of the first sustainable investment funds in Europe, and the skepticism they faced initially before proving the financial viability of sustainable investing. The criteria Anna looks for when evaluating startup pitches includes authentic, ambitious founders with a clear vision for impact.

In terms of advice for founders on effective fundraising, Anna emphasizes the importance of having a strong storyteller on the team and being transparent about both financial and impact metrics. She also shares her personal experiences with failure and conflict in her entrepreneurial journey, underscoring the importance of having a supportive network to get through tough times.

Overall, this episode provides valuable insights from an experienced investor who has seen entrepreneurship from multiple angles - as a founder, consultant, and now VC. Anna's global perspective and focus on sustainable, impactful investing offer inspiration for founders and aspiring entrepreneurs.

Key Take-Aways:

1. Anna's pivotal experience working in Zimbabwe for 2 years shifted her perspective on the importance of supporting entrepreneurs and building businesses over traditional aid.
2. Anna and her partners built one of the first sustainable investment funds in Europe, overcoming initial skepticism by proving the financial viability of sustainable investing.
3. When evaluating startup pitches, Anna looks for authentic, ambitious founders with a clear vision for creating positive impact.
4. For effective fundraising, Anna advises founders to have a strong storyteller on the team and be transparent about both financial and impact metrics.
5. Anna's personal experiences with failure and conflict in her entrepreneurial journey highlight the importance of having a supportive network to navigate tough times.

If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Be sure to check out Anne-Louise Thon on LinkedIn:

https://www.linkedin.com/in/annelouisethonjensen/

Thanks to our sponsors:

Shaping New Tomorrow

State Energy

Episode 9 of Growing For It - Coffee Talk #5 with Mik & Trav

Mikkel and Travis discuss the challenges and milestones of their hardware startup, Airflight, in the first half of 2021. After securing pre-seed funding, they hired key personnel, including an expert in carbon fiber. They faced difficulties in hiring skilled local workers and had to build a $50,000 carbon fiber oven themselves for $3,000. The team successfully assembled a large drone, which was one of the biggest quadcopters at the time. Despite initial success, a load test failure and a crash during the first flight test caused setbacks. They emphasize the importance of resourcefulness and the emotional impact of physical prototypes in their entrepreneurial journey.

Key take-aways:

• Resourcefulness and Creative Problem-Solving

Faced with the need for a large, specialized oven, Mikkel and Trav converted a shipping container into a custom-built solution for a fraction of the commercial cost. This ability to find innovative and cost-effective solutions was crucial in the early stages of their startup.

• The Emotional Impact of Tangible Progress

Watching the physical components of the AF100 drone come together was a profound emotional milestone, igniting their passion and belief in the project. Celebrating these tangible achievements can provide the necessary motivation to overcome future challenges.

• The Importance of Safety and Structured Processes

The incident during the load test was a wake-up call, highlighting the need to take safety more seriously and implement more structured processes as they moved forward with testing and development. Embracing this shift in mindset would be crucial as they continued to push the boundaries of their technology.

Chapters:

[0:00:00] Closing the Pre-Seed Round and Moving Forward

[0:01:36] Hiring Challenges and Lessons Learned

[0:04:54] Building a Custom Oven for Carbon Fiber Parts

[0:09:10] The Emotional Impact of Physical Prototypes

[0:14:17] Assembling the AF100 and Preparing for the First Flight

[0:18:46] Safety Concerns and Leveling Up

[0:22:19] The Crash and Dealing with Setbacks

[0:24:00] Reflecting on the Roller Coaster Ride

If you wanna learn more about our "Founders" initiative, DM us on our socials listed below:

Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili

Travis on LinkedIn: https://growing-for-it.captivate.fm/trali

Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel

Travis on Insta: https://growing-for-it.captivate.fm/travis

Thanks to our sponsors:

Shaping New Tomorrow

State Energy

Vestermark Consult

Episode 8 of Growing With it this time joined by Per Wimmer

Per Wimmer, a global finance chair and adventurer, discussed his diverse background, including his law degrees and his role as an entrepreneur and philanthropist. He highlighted his achievements, such as the first tandem skydive over Mount Everest and his future space flight plans. Wimmer emphasized the importance of philanthropy, sharing his work with UNICEF and Global Angels, which funded orphanages in Nepal for five years. He also discussed his writing, media work, and the influence of figures like Buzz Aldrin and Elon Musk. Wimmer shared personal anecdotes, including his experiences with the homeless in Wales and his adventures in the Amazon, underscoring the value of empathy and giving back.

Key take-aways:

1. The power of personal connection and empathy: Wimmer emphasizes the profound impact he experienced from directly engaging with and supporting those in need, like the young girl at the orphanage in Nepal.
2. The importance of balancing ambition with purpose: Wimmer's "Seven Wimmer Values" highlight the need to pursue one's passions while also giving back and inspiring others.
3. Embracing risk and learning from mistakes: Wimmer encourages entrepreneurs to take action on their ideas rather than waiting for perfect conditions, as mistakes and failures are essential for growth.
4. The role of culture and psychology in business success: Wimmer stresses that half of business and finance is about people, culture, and psychology, not just numbers and spreadsheets.
5. Finding inspiration in diverse experiences: Wimmer's adventures in the Amazon jungle and time with the homeless in Wales provided valuable philosophical insights that shaped his outlook and approach to life.

Chapters:

1. [0:00 - 10:00] Introduction to Per Wimmer: Entrepreneur, Adventurer, Philanthropist
2. [10:00 - 25:00] Philanthropic Efforts and Giving Back to the Next Generation
3. [25:00 - 40:00] Inspirational Figures and the Pursuit of Dreams
4. [40:00 - 55:00] Navigating Risks and Setbacks in Space Exploration
5. [55:00 - 70:00] The Seven Wimmer Values: A Guiding Compass
6. [70:00 - 85:00] Connecting with the Amazon Jungle and the Simplicity of Life
7. [85:00 - 95:00] Balancing Adventure, Philanthropy, and the Demands of Modern Life
8. [95:00 - 110:00] The Importance of Culture and Psychology in Business Success
9. [110:00 - 125:00] Embrace Action and Learn from Mistakes
10. [125:00 - 135:00] Closing Reflections and Key Takeaways

More:

Mikkel – https://www.linkedin.com/in/10xmks/

Travis - https://www.linkedin.com/in/travis-james-mathers/

Per Wimmer - https://www.linkedin.com/in/perwimmer/