Welcome to the Success Foundry!
If you are an entrepreneur or are going in that direction, you know that we live in exciting times, and there’s no more vibrant entrepreneurial community than here in Los Angeles. The top startup centers in Los Angeles netted just over $3.8 billion in investment 2018.
The Success Foundry’s sole mission is helping startup teams validate their product and organize early so they can scale their business. We work with US-based entrepreneurs and overseas companies looking to establish US-based entities in the Los Angeles area.
Why We Like Startups
This is a great time for entrepreneurs to launch a company. The world is becoming ever more global and open to new ideas. The cost of creating a company is dropping. And the Millennial and Gen Z workforce cohorts are smart, talented, and eager to learn and succeed.
What We Do
We work with startups, very early stage companies, and foreign companies setting up a US-based entity to create their organizational infrastructure so they can build their teams and be structured to scale.
Our Suggestions to startups and companies entering the US market:
- Make sure you are solving a problem
- Begin with a minimal viable product and see if you can sell it to people who do not know you
- Create a collaboration system for your team that captures everything you do and think
- Implement a tight process to guide your team – think Rockefeller Habits and “Scaling Up” by Verne Harnish
- Recruit a professional advisory board as soon as you can – the right insights and advice will accelerate your growth and value
- Focus on building brand awareness
How to Build Your Startup Team
There now are five generations in the workforce and together their synergy and experience can accelerate growth. Hire for knowledge, temperament, and cultural fit. Be patient. You can find the right people. If you are in Los Angeles, check out BuiltinLA. We’ve made a number of hires through BuiltinLA and the candidate quality was excellent.
Why Talk with the Success Foundry?
I learned the growth lesson the hard way. A business school classmate and I spent four years developing a great commercial lending software solution for community banks only to find that we had developed a “nice to have” rather than a “must-have” product. We couldn’t scale it, so we sold it. Lesson: make sure you can sell your product to people outside of your influence network. If you can, you may have a winner.
One of our clients, Weavy, won a 2017 Red Herring Top 100 Tech Company award. It took two pivots, but we got there.
Schedule a Free 15-Minute Chat
Use the form below to schedule a time to talk. We’re happy to answer any question. This is a free “pay-it-forward” consultation.
PS: If you are just beginning your entrepreneurial journey, visit our Startup Resources page for some critical pre-launch learning.
From right to left, Weavy CEO Rickard Hansson; Red Herring Chairman, Alex Vieux; . Weavy COO and Success Foundry CEO Robert Hess.