Wil Schroter

About

Wil Schroter is the Founder + CEO @ Startups.com, a startup platform that includes Bizplan, Clarity, Fundable, Launchrock, and Zirtual. He started his first company at age 19 which grew to over $700 million in billings within 5 years (despite his involvement). After that he launched 8 more companies, the last 3 venture backed, to refine his learning of what not to do. He's a seasoned expert at starting companies and a total amateur at everything else.

Articles

The Toll of Everyone Around a Founder

Being a Founder can take a toll on everyone around you in different ways. Let’s deep dive into the nitty-gritty of how it impacts family, friends, and relationships.

Time is Our Greatest Asset

In the fast-paced world of startups, thinking long-term is a total game-changer. It not only toughens you up, but it also attracts investors and partners who are in it for the long run, boosting your chances of scoring lasting success in the crazy world of startups.

How Do I Design My Startup Around My Life?

There's very little preventing us from designing our startups around our life goals. It starts with us being very clear about what we want to achieve and then taking clear, small steps toward those outcomes.

Why Founders Don't Ask for Help

Founders sometimes hold back from asking for help because they worry about losing control, looking weak, burdening others, or feeling like they have to do everything themselves. However, it's actually really important for founders to push past these concerns and ask for help. Here's why.

Are Bootstrapped Startups Less Valuable?

What determines the value of a startup? While venture-funded startups may have more money and support initially, bootstrapped startups can still be just as valuable and successful.

Can You Build a Startup in Less than 40 Hours per Week?

Building a startup typically requires a significant investment of time and effort. While it's theoretically possible to work on a startup for less than 40 hours a week, it may significantly impact the chances of success.

Founders, Not All Problems Are Apocalyptic

While running a startup can be challenging and bring various obstacles, not every problem leads to failure or signifies the end. Tune in to hear how Founders can view problems as opportunities for growth and improvement.

What if this isn't a "Big Business"?

By reevaluating goals and priorities, Founders may discover the benefits of a steady and enduring approach that aligns with their vision and values, which can be mountains better than just "scaling rapidly" with no direction.

What if Our Dreams Are an Illusion?

Sometimes, the startup journey is more important than the final outcome, so it's crucial to think about whether the sacrifices are really worth it for your long-term happiness and sense of purpose.

We Can't Stay Out Of The Game For Too Long

Startup Founders can't afford lengthy breaks from the game because the skills and mindset crucial for entrepreneurship can weaken over time. Here's why.

Don't Let Investors Become Your Customer

When you prioritize investor demands over customer needs in pursuit of additional funding, you risk eroding customer trust and loyalty, negatively impacting your long-term business sustainability.

Don't Fear the Reaper: AI Edition

Founders shouldn't fear changes in technology because embracing advancements can bring various advantages, ultimately fostering growth and success.

When a $40m Exit is More Than a $200m Exit

Let’s delve into the maze of startup exits, exploring the delicate interplay between exit values, ownership, and the real-world implications.

Plan for Bad Times, Budget in Good Times

It's not all sunshine during the good times, and not all doom and gloom during the bad times. It's about striking that perfect balance in your startup's strategy. So, what's the secret to achieving longevity in the ever-shifting landscape of entrepreneurship? Tune in the find out.

Startup Growth Challenges: The Downfall of Becoming Internally Focused

There’s a huge possibility that your focus might change from managing customers and shipping products to hiring staff and doing reports — which could lead to a stall in your skills and growth as a Founder. So as you motivate your people, keep motivating yourself as well!

Analyzing Startup Accounting Results

Analyzing and managing the income statement is about making tons of little tweaks, all the time. Let's cover what goes into analyzing our financial statements and operating expenses to see if they accurately reflect all of the financial transactions we just inputted in our income statement.

Startup Accounting: Processing the Data

We're going to update our financial statements using a simple accounting process that requires zero professional accounting experience or accounting software — it's just our income statement spreadsheet (free download for you!)

Capturing Startup Accounting Data

Building solid financial statements starts with digging through all of the financial transactions in all of our accounts. In our example, we'll do this with a spreadsheet but you can use your accounting software to comb through your financial records and do the same thing.

Intro to Startup Accounting

Accounting in startups — can't live with it, can't grow without it! Let's dive into the gritty details of accounting for a startup to cover our bases and get ahead before our numbers come up short.

Startup Fixed Costs

Everyone's business startup costs will start as a few estimates, and over time, land at more focused projections. We need a little bit of time and reality to give us the final answer. Let's dive into the wonderful world of fixed costs to get started on the right foot.

Startup Forecasting: Pro Forma Template for Startups

Early-stage startups are still building their financial models with assumptions, forecasting everything from sales revenue to marketing costs to a basic cash flow projection. We're going to explain exactly how to build financial projections for your startup even if you have no idea where to start!

Startup Finance: 3 Assumptions That Matter

Assumptions are the raw materials that make up our financial statements and tell us whether we're headed toward gross profit or total disaster! Here, we'll be taking a beginning inventory of the 3 most important financial assumptions that tend to drive most startup company projections.

Accounting for Startups

While we may not know all there is to know about our business yet, there’s still going to be some good old-fashioned accounting to do. So let’s break out those green visors and add machines — it’s time to learn WTF accounting is!

Startup Finance: Financial Assumptions

Startup financial projections are built around making a series of educated guesses about how things might go. In order to better understand the assumptions that make up our financial statements, let's first understand how little we actually know!

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