Oliver Friedrichs is the Founder and CEO of Phantom Cyber, a four-time successful entrepreneur who has exited companies to McAfee, Symantec, Sourcefire, and Splunk. On today’s episode, Jon Sakoda speaks with Oliver about the lessons he has learned along the way, including how to cultivate partnerships that lead to successful exits and avoiding valuation traps as a first-time founder.
- Your Advantage Is Your Speed [17:47 - 18:39] - Many startups think they are smarter than big companies. Oftentimes their greatest advantage is their ability to execute and focus when a large company might be distracted by other priorities. Listen to hear why startups should not act like they are smarter than everyone else, but should act with speed and certainty when building their product.
- Don’t Overshoot Your Valuation [22:41 - 24:24] - If you have a high valuation, it may take years for your company to grow before your investors believe they can exit a company. Having the flexibility to exit is important and a high valuation can limit and restrict the M&A possibilities for your company. Listen to hear why Oliver believes optionality to exit at the right inflection point is a founder’s best friend.
- Build The Right Partnerships For A Successful Exit [24:47 - 26:19] - Oliver subscribes to the idea that companies are bought not sold, and has cultivated valuable relationships throughout all of his startup journeys. To create an exit strategy that makes sense, work with companies to integrate your products and increase customer engagement. Listen to learn how to leverage your existing partnerships into successful exits.
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