In episode 268, Lance meets with Seth Temko, the founder of Full On Strategy, a go-to-market consultancy that helps companies achieve hypergrowth. With a background in entrepreneurship and startups, Seth has a wealth of experience in the technology sector. He has lived through the boom and bust of the dot-com era and has a deep understanding of the challenges and opportunities that come with starting and scaling a business.
In this interview, Seth shares his top three tips for entrepreneurs, including that he believes that starting your own business is both the hardest and easiest thing you can do. While it comes with financial strain and stress, it also gives you control over your own destiny. Seth emphasizes the importance of patience, as everything takes longer than expected. He advises entrepreneurs to focus on the things they enjoy and are passionate about, and to outsource or delegate tasks that drain their energy. Seth also discusses his go-to-market strategy for Full On Strategy, which includes building partnerships and creating a community of restaurant tech executives and founders.
To learn more about Full On Strategy, visit: https://fullonstrategy.com/
Share this episode:
00:00 - Introduction
01:15 - Three things every entrepreneur should know
07:08 - Go-to-market strategy
09:24 - Helping companies achieve hypergrowth
10:33 - Applying the principles of his consultancy to his own business
12:47 - Defining the consultancy and choosing a niche market
13:19 - Focusing on hospitality technology and generating value quickly
13:54 - Massive potential market size in the restaurant industry.
16:22 - Partnerships with Branded Strategic and other consultants.
17:27 - Focus on selling, defining partnerships, and driving pipeline for growth.
20:58 - Creating a restaurant technology-focused event to connect industry players.
22:04 - Building community and peer support is key for long-term success.
24:07 - Communities can be monetized and lead to strong relationships.
28:32 - Naive thinking can propel young entrepreneurs forward.
29:45 - Lesson from the dot-com bubble: value delivery is key.
33:07 - Importance of good product and customers willing to pay.
36:26 - Outro
Amplify Your Business: Insights from Seth Temko on Entrepreneurship and Hypergrowth
Welcome to another episode of Amplify Your Business, where we dive deep into the world of entrepreneurship and business growth. In today's episode, we have the pleasure of speaking with Seth Temko, founder of Full On Strategy, a go-to-market consultancy that helps companies achieve hypergrowth. With his extensive experience in the technology sector and a deep understanding of the challenges faced by entrepreneurs, Seth shares his top insights and advice for aspiring business owners.
The Hardest and Easiest Thing About Starting Your Own Business
Seth begins by highlighting the paradox of entrepreneurship: it is both the hardest and easiest thing you can do. He explains, "Starting your own business is the hardest thing you can do because of the financial strain and stress. All the pressure falls on you, and it's easy to blame yourself when things go wrong. However, it's also the easiest thing because you have control. The politics, the mission, and the execution are all in your hands."
The Reality of Time and Expectations
Seth's second insight revolves around the concept of time. He emphasizes that everything takes longer than expected, regardless of how well you plan. "Spreadsheets are easy, execution is hard," he says. Entrepreneurs often underestimate the time and effort required to bring their ideas to fruition. Seth advises, "Cut yourself some slack and acknowledge that you may have been overambitious or failed to account for unforeseen challenges."
Focus on What You Love and Outsource the Rest
The third key lesson Seth shares is the importance of focusing on the aspects of your business that you enjoy and have a high impact. He encourages entrepreneurs to identify the tasks that drain their energy and find ways to outsource or delegate them. "Buy back your time," Seth advises. "Invest in the things that inspire you and lift you up, and let go of the tasks that detract from your passion and productivity."
Applying the Lessons: Full On Strategy's Go-to-Market Approach
Seth's own business, Full On Strategy, is dedicated to helping companies achieve hypergrowth through effective go-to-market strategies. He explains that their approach involves a thorough research and discovery phase, market segmentation, and determining the best revenue match for each client. Full On Strategy then develops comprehensive marketing and sales strategy playbooks tailored to the client's goals.
Building Partnerships and Community
In addition to direct sales, Full On Strategy leverages partnerships to expand its reach and impact. Seth emphasizes the importance of defining the relationship and joint value propositions when working with partners. He also highlights the value of building a community within the industry. Seth plans to launch a pilot mastermind program for restaurant tech executives and founders, providing a platform for networking, knowledge sharing, and collaboration.
Lessons from the Dot-com Era
Drawing from his experience during the dot-com era, Seth emphasizes the importance of delivering value to end customers. He reflects on the fast-paced, money-driven nature of that time and the subsequent burst of the bubble. Seth advises entrepreneurs to focus on creating solid products and delivering value, rather than chasing quick profits. He warns against falling into the trap of poor technologies and business models that pollute the market and hinder the growth of genuinely valuable solutions.
The Path to Hypergrowth
Looking ahead, Seth's plans to expand Full On Strategy's community-building efforts and industry events demonstrate his commitment to fostering collaboration and knowledge sharing. By bringing together diverse voices and experiences, Seth aims to create a supportive ecosystem that drives innovation and growth in the restaurant tech sector and beyond. As the business landscape continues to evolve, Seth's insights and strategies will undoubtedly remain invaluable resources for entrepreneurs on their journey to hypergrowth.
Book a 15-Minute Discovery Call
Curious about how Amplomedia can help YOU with your marketing?
Schedule a quick discovery call with Lance so that he can assess how we can best help you and your business.