I’ve been working with B2B SaaS Businesses for the last 2 years I saw the success of many startups from the inside (like Taplio, Submagic, etc.), and all of them had 5 things in common. Some of these 5 "secrets" can be obvious, but most prefer to ignore them:

Making a B2C product? You will earn $0 😇 Tap to open the epic thread 👇

Working at a startup can change your life -- but what's it really like to work at one? I've now worked at 3: @Facet_wealth, @Range_finance, and @Compound Here are my top 10 takeaways from experiencing startup life firsthand: 1. Ask the hard questions upfront Before diving into the excitement of a startup job opportunity, it’s crucial to ask the tough questions about financial stability, long-term vision, and company culture during the interview process Really kick the tires as much as possible Look at things as if you are a potential investor in the company After all, you're going to be investing a significant amount of time (and potential money via exercising options) This can save you from unpleasant surprises down the road and help you gauge whether the startup's goals align with your own 2. You will wear a ton of different hats In a startup, roles are fluid, and job descriptions are more of a guideline than a rule One day you might be working on product development, and the next, you could be handling customer support and asked to run the company social media account Adaptability is key 3. Equity is incredibly exciting but should mostly be viewed as $0 The allure of equity can be intoxicating, but it’s essential to remain grounded When I became the 5th employee of 1 company, my mind began racing about the upside possibilities for me and my family long-term While the potential upside can be huge, the reality is that MOST startups fail, and those stock options might not amount to anything Even late-stage startups worth Billions have gone to $0 incredibly quickly It's best to ignore the Crunchbase articles and funding rounds (especially during the froth of periods like 2021) If there's not a market for your equity, it's just paper net worth Treat equity as a potential bonus outcome, not a guarantee 4. There's almost no distinction between work and personal time Expect to blur the lines between work and personal life Startups demand a high level of commitment and availability, often requiring late nights and weekend work I loved this aspect of it, but I was also Single with no kids for the majority of those experiences Balancing this with personal time can be challenging but necessary for building these kinds of companies 5. All-hands meetings are often pointless and lack the substance required to build a culture While all-hands meetings aim to foster transparency and unity, they often miss the mark They often turn into the same routine company updates and a chance for managers to prove they are doing a good job rather than meaningful discussions Q&A is typically held, but the answers are super corporate and don't address the root issues raised by staff Effective culture-building requires more than just these meetings; it needs genuine interaction and shared experiences 6. Leadership will be cagey about the financials Transparency about financials is often touted but rarely practiced Leadership might keep the full financial picture under wraps, leading to uncertainty among employees There are obvious reasons for founders to do this, because this can impact future funding, public perception of performance, employee retention, etc It’s important to stay informed and ask for clarity whenever possible (especially about "runway") 7. You will have to shield clients and customers from the chaos happening internally Clients and customers expect a seamless experience, regardless of internal turmoil I've only worked at DTC (Direct to Consumer) startups -- meaning you are working with individual consumers, not selling or serving businesses Managing this requires skill and empathy, ensuring external perceptions remain positive even when things are chaotic behind the scenes People will leave, things will go poorly, and you'll still be expected to make customers and clients happy 8. Technology can often make your job more difficult Ironically, the tools designed to streamline work can sometimes complicate it The SaaS category is massive, and many founders look to throw tech solutions to niche problems This can lead to way too many products to keep track of and a tech stack that doesn't work Frequent changes, buggy software, and the need to constantly learn new systems can hinder productivity rather than help it Especially if you are trying to build something from the ground up when there might already be a phenomenal product in the market that solves that need 9. It will be painfully obvious who the A / B / C players are within the company In a high-pressure environment, the distinction between high performers and everyone else becomes clear quickly A-players drive the company forward, B-players keep things steady, and C-players struggle to keep up, often creating more challenges If you are an A-player, people will come to you constantly and you will be expected to take on a larger and larger role Having good engineering talent is crucial to building product and getting ahead in a competitive space The caliber of your engineers can make or break the business, and they are in extremely high demand Top-notch engineers can adapt quickly, innovate, and build robust product, whereas less skilled ones can slow down progress and introduce more problems than they solve 10. Pivoting is often the rule, not the exception Startups are in a constant state of flux, and pivoting strategies, products, or entire business models is common Being able to adapt and thrive amidst change is essential for survival in the startup world As an employee, you need to be aware that founders can pivot at any time -- either "disagree and commit" or get off the train

It is just insane how many people on social give advice yet know literally nothing about what they’re talking about You’ll see: The finance man Dividend Guy Investment expert Run from them all

The irony of choosing to "get rich slowly" over "get rich quick" schemes is the former approach will almost always get you there quicker.

A great website can be super powerful for a business… …but creating valuable content, supporting others, showing people your personality, and demonstrating how you help solve people’s problems? ^^That can change your entire career.

Listen, I don't care what you say People get disabled and can't work Spouses die early It's not fun to think about, but it's the reality of the world we live in It's why Insurances exist To protect against these huge risks that can and do happen

I have some buddies who ask how I know as much about personal finance as I do/what resources help besides a degree in planning: - mystockoptions.com - Morgan Housel’s books/podcasts are all great places to start - IWTYTBR - Podcasts --> Long game and Work optional

It's my eighth year in the financial industry and my second year running my advisory firm. I manage my finances the same way I've helped hundreds of high-net-worth clients manage theirs. This is my personal finance blueprint 🧵