
SUMMARYMahesh Guruswamy, a seasoned tech leader and author, joins the podcast to share invaluable insights on entrepreneurship, business strategy, and hiring for success. With a background in major tech companies like Amazon, Mahesh has a unique perspective on what it takes to scale a business, the common pitfalls entrepreneurs face, and how to build a winning team.Throughout the episode, Mahesh dives deep into the importance of market research, why competitor analysis is crucial, and why being first to market isn't always the best move. He also shares hard-earned lessons from his own entrepreneurial journey, including financial struggles and how he turned them into a driving force for success. Whether you're a startup founder or looking to scale your business, this episode is packed with practical advice you can apply immediately.CHAPTERS02:35 - The Harsh Reality of Entrepreneurship05:10 - Why Most Entrepreneurs Skip Market Research07:45 - How to Identify a Winning Business Idea10:20 - Why You Shouldn’t Always Be First in the Market12:55 - The Power of Competitor Analysis15:30 - Hiring Your First Tech Person: What to Look For18:05 - The “Plumber” Approach to Early-Stage Tech20:40 - The Biggest Lesson from Amazon’s Work Culture23:15 - Overcoming Financial Hardships & Learning from Failure25:50 - How to Deliver Bad News & Still Win in BusinessGUEST DETAILSWebsite: MaheshGuruswamy.comBook: How to Deliver Bad News and Get Away With It (Available on Amazon, Barnes & Noble)Connect with Rudy Mawer:LinkedInInstagramFacebookTwitter
Chapter 1: What are the harsh realities of entrepreneurship?
So I set you up for hopefully success here. Some big boots to step into, right? Some of these big things you've done a lot. But if someone doesn't know who you are, do you mind just giving a minute overview of yourself?
Yeah, sure, sure. So my name is Mahesh Guruswamy. I'm currently the CTO of Kickstarter. Been in the software development space for about 20 some years. First 10 years was individual contributor, middle level management. Last 10 years have been in executive roles. So work for pre-IPO companies, IPO companies, early stage startups and everything in the middle.
And great. And, you know, you work for some of the biggest companies on the planet. So I want to start there. Like, what are just some of the biggest lessons from work, not even tech lessons, just general, like from working with these like super high performing billion dollar brands?
Chapter 2: Why do entrepreneurs often skip market research?
I think the single biggest lesson that I've learned is don't start with the no.
Don't start with no, it is not possible to do X, Y, and Z. I've fired tech people over that one exact thing in my life because it kills creative energy as an entrepreneur and a founder.
Chapter 3: How can I identify a winning business idea?
right that that's exactly right this is exactly right and you know the the most successful companies that i work for amazon kajabi kickstarter have all been you know slightly crazy right he had to be a little bit crazy to believe that he can do the things that these companies pulled off really have to be crazy i sound delusional because i believe in my ideas so much it's a borderline insane
That's what I tell up-and-coming leaders, up-and-coming executives. Don't start with the no, especially if you have aspirations to get into the executive C-suite. You cannot tell a founder no. You cannot tell a successful CEO no, you can't do this. With enough money and time, I can move the planet, right? And that's the attitude you should have.
Yeah, that's what I tell them, too. You know, like, you're obviously probably a smarter tech person than many that I've had to hire and fire, but every time, you know, it's probably, like, one of the biggest disruptors to me when someone says that in my team. And I always, you know, my staff know I have this ongoing kind of joke now.
Chapter 4: Why shouldn’t you always be first in the market?
If anyone says, no, I always say, so you're telling me Elon Musk can fly to space and bring a rocket straight back, but you can't integrate and zap this data thing if...
It's so funny. Yeah, it's so funny because I've used the exact same analogy with my teams too. You said, if somebody tells me, this takes me six months or nine months, Elon has spent rockets to space in that time. So why can't we get this thing done sooner? So I'm with you.
Chapter 5: What is the power of competitor analysis?
Well, I like that. And look, but I think let's talk about this for a second, because that is the difference between winners and losers in business. And I think overall life is a lot of people are looking at what can't happen or what could go wrong or why it can't happen. But the most successful people on the planet are looking at how can we make it happen? Right.
And how do we look at the mystic setting versus a pessimistic setting?
That's right. That's right. I think Archimedes said this, right? The long enough lever, you can move the earth. So I believe in it.
Chapter 6: What should I look for when hiring my first tech person?
Yeah. So how do you juggle? Let's you know, it's a great transition because I do think the hardest part with entrepreneur and tech is that, you know, you need to have that crossover and great teamwork. The entrepreneur has a million ideas and some of those ideas. I always joke with my team. It takes me five seconds to come up with an idea and then like 50 out of 500 hours to build. Right.
So how should entrepreneurs work with their tech team?
Well, I think my usual MO is doing a little bit of research upfront with customers because, you know, I have a thousand ideas and like 90% of them could be garbage. Right. That's the thing. That's the thing. So I don't like mobilize my team to go build something. until I have some level of conviction that this is going to work for our customers. So I talk to customers.
Chapter 7: What is the 'Plumber' approach to early-stage tech?
I always have a small group of motivated customers who I can go to and ask feedback from. And if directionally the feedback is positive, then you build something which is like an MVP. It's like duct tape and a small thing that you get it out, test it. And if it works, then you release it to the entire world and keep scaling. I don't believe in building the Ferrari and then trying to sell it.
I'll like build a Pinto and then see if there's an interest in it and then like scale it up to something much more expensive.
Chapter 8: What is the biggest lesson from Amazon’s work culture?
Yeah. Or what we do and what Elon does is you build the, like a fake model of a Ferrari or a Mazda and then build it with the money that you made from pre-selling it. Right.
That's right. Yeah.
And I do think, you know, tech and especially, you know, I've owned and co-owned and had equity in a few software companies, but never been like a main company. Like I've always sold products that I think are faster, you know, courses, coaching, education, communities, supplements, e-commerce, right? And I've done pretty well. I've scaled e-commerce brands to a million dollars a day.
Chapter 9: How do I overcome financial hardships in business?
So big numbers, but whenever I've been part of a software company and I've done a few iterations, I've always found it's like as a marketer, I'm like, hey, we need these 10 things to sell this better hooks and unique selling points. And then the tech team, you know, and the software companies at least are like, oh, yeah, we'll put that on the two year roadmap. Right.
So how do you balance that for software companies? Yeah.
Chapter 10: How do I deliver bad news and still win in business?
I think it comes down to prioritization is what I would say. There's always going to be a thousand different things to do. So as leaders, you have to realize what is most important and figure out what to put it in the top of the list and what to put at the bottom of the list. I think the other dynamic that's playing out, and I know my network will hate me for saying that, is leadership.
Software development is becoming commoditized faster and faster and faster, right? It is not a hard-to-learn skill as it was 10, 15 years ago. And if engineers and product managers and everybody else in tech feels like they have special skills, I think a reckoning is coming.
I think it's like everything now. We were talking with my team, Mark's team today, we went from nine copywriters to two.
with more than ever because of AI in my design team like even me now in Photoshop it's like oh I really love this photo my video team creative team took but it needs to be portrait for Instagram well I can just drag it in Photoshop and click AI generate and it now creates the sky and the ground so I Whereas that would have been a two hour Photoshop edit from my designer before.
So, you know, and this drives I always talk about Amazon. We live in a world where everyone wants stuff now. They want it. Yeah. Instacart. I get my groceries now. Uber Eats. I get my food now. Uber. I get a taxi now. Netflix. I get to watch my movies now. Killed boy. Yeah.
I think it's going to be the same for everything that comes after that easy consumer stuff is like, well, software is out-of-the-box solutions now, and you don't have to custom code it all from ground up maybe, right? That's right.
That's right. That's right. And I think software teams have aversion to sometimes buying something off the shelf and deploying it. And I actively tell my teams, let's get it out. Let's get feedback and see how it behaves in the market before investing too much time in it. So it's 100% right. I think as long as the US is a consuming economy, it's always going to be, I want stuff today.
I don't want to wait. I think it's always going to be that case.
it's gonna get i think it's gonna get worse because it's like they're gonna have amazon drones dropping stuff off more stuff online right so it's gonna do more for you so i think it's actually gonna get way more aggressive uh next couple of decades and then it'll maybe balance out you know that you're gonna be able to i saw the other day you're gonna be able to fly from london to new york in an hour and a half
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