Juggling Fundraising While Building a Strong Team with Bruce Watanabe of PowerBuy

People will only do something when it is in their own best interest AND aligns with our values. 

This was a key takeaway for me from the book “What Got You Here, Won’t Get You There” by Marshall Goldsmith. 

We talk a lot about aligning with values when hiring on this show. And almost everyone recognizes the importance but it is so often missed. Why?

First, the disdain that most of us share for hiring. Very few entrepreneurs enjoy the process of interviewing & hiring. But it is the single most important activity that YOU can get good at that will make the biggest impact in your organization. 

Second, the path of least resistance is easy… But it is almost always the wrong path. We must remember that the purpose of the interview is to get to the TRUTH about the person no matter the source. And the truth you need to know is not in skills. It is in positioning and value alignment. 

Bruce Watanabe is a serial entrepreneur whom has co-founded a number of technology and Internet ventures including, PowerBuy, MassGenie, SIRE Mobile (SMS Solutions), and SETA International (Global Systems Integrator & Solution Provider). 

With over 20+ years of leadership experience ranging from start-ups to Fortune 10 companies, Bruce is proficient in corporate strategy, business development, sales, and channel development. He is actively building Powerset from the ashes of a pivot and is here to share his wisdom 

Today we discuss:

• Why it is important to prioritize the thing you hate most (interviewing)
• How to balance raising capital while building a stellar team.

Challenge today?

• People are the most important aspect of a company
• As an early stage startup
  • Balancing generating revenue while getting financing
  • Need capital to hire the right people 
  • Pivot the business to powerbyte
  • Lack of funding, resources
  • Have the grit to power through the pivot

Why is this important to the company?

• Only a handful of people stayed
  • Believed in the vision- disrupting social commerce
  • CTO- grit / determination to power through 
• Relaunched the company 
  • Second raise 
• Balance the valuation 

Rick’s Nuggets

• First recognize/admit that you have no idea how to hire (admit to your problem)
• Prioritize getting good at Interviewing
  • Values
  • Process
  • Evidence 

How do we solve the problem? 

• Bringing the right team in place
  • Referrals- all interconnected
  • Advisors- only way to hire people 
    • Vouch for someone
    • Advisors must be strong
• Prefer a strong 
• At the end of the day, you can buy talent, you can't buy grit
• Would love to get good at interviewing but …
  • Really hard to gauge if someone 

Rick’s Nuggets

• Take an active role in interviewing
  • Seek to understand- filters down through the organization.
  • Poke holes & dig deep
• Understanding positioning
  • What does the person really want to do?
  • Desire = Passion
  • Does their desire align with my goal
    • Don't be just a paycheck
• Everyone gets the same interview
  • Often the best person for the business is the least like you
  • Evidence supports strong decision making

Key Takeaways that the Audience can plug into their business today!  -Value:

• Make sure you know who you are getting into bed with- have a great team
• Know who your co-founders are
  • If you are friends, be prepared to lose them. Rarely a happy ending
• Don’t hire on a resume/linkedin profile

Host Links: 

LinkedIn: https://www.linkedin.com/in/rick-girard-07722/

Company: https://www.stridesearch.com/

Podcast: https://www.hirepowerradio.com

Authored:  "Healing Career Wounds"  https://amzn.to/3tGbtre

HireOS inquiry: rick@stridesearch.com

Guest Links

LinkedIn https://www.linkedin.com/in/bruce-watanabe-5a661a4/

Company: https://linktr.ee/powerbuyapp

LinkedIn: https://www.linkedin.com/company/ppowerbuy/

Facebook: https://www.facebook.com/powerbuyapp

Twitter: https://twitter.com/powerbuyapp

Instagram: https://www.instagram.com/powerbuyapp/

YouTube: https://www.youtube.com/channel/UCDjcG5dHXE282FGzfaf2Jjw

Pinterest:https://www.pinterest.com/powerbuyapp/_saved/

TikToK: https://www.tiktok.com/@powerbuy.app?

 

Show Sponsor:

Criteria Corp: https://www.criteriacorp.com/