#16 Podcast – TLD Talks… Founders and fast growth

Episode introduction:  In this episode of TLD Talks, Client Legal Director Stephen Britt and Tash Grossman, CEO and Founder of Slip, talk with Ed Simpson, CEO of The Legal Director, about the challenges facing young businesses ambitious for growth, and the importance of getting the legal basics right.

Today’s guests: 

Stephen Britt is a Client Legal Director at TLD with 25-plus years’ legal experience. He has worked with organisation of various sizes from startups to multi-national, multi-billion euro businesses. He has also been the Company Secretary to a number of businesses giving him an insight into the boardroom and the impacts of good, and bad, governance. 

Tash Grossman is co-founder of the technology startup Slip. It’s an app which stores digital copies of your receipts all in one place, taking away the need for paper receipts or searching through your emails when you want to return something.

Main topics: 

1. The key building blocks Stephen believes SMEs should have in place before embarking on a rapid growth strategy. (3’15)
2. Stephen outlines the key risks to your business and why it’s important to be clear about who is responsible for them, especially when multiple people are involved. (3’45)
3. What Stephen means by “corporate hygiene” and how this will help when investors want more detail. (4’38)
4. Tash’s approach to planning – the balance between having a plan and being an agile tech company. (5’20)
5. Tash on why it’s important to properly read term sheets and shareholder agreements, and the importance of protecting your technology and brand through patents and legal trademarks. (6’30)
6. Stephen explains the relationship between the parties involved in shareholder agreements. (08’18)
7. Stephen highlights some of the issues fast-scaling business might face from an HR perspective. (09’30)
8. How Tash is approaching these HR issues as Slip grows. (11’42)
9. Tash’s experience of having to dismiss someone. (13’24)
10. How Tash is approaching protecting the intellectual property of the business, for example the software used by Slip. (15’04)
11. Ed asks whether you can leave yourself under-insured if your business grows in a completely unexpected manner. (16’43)
12. Tash’s three top tips for fast-growing startups, including the importance of mentorship for young founders (18’54), signing legal agreements with your co-founder(s) (19’39), and having the courage to believe in your business. (20’18)
13. Stephen’s top tips including documenting what you do, knowing your value and having a good team to support you. (20’51)
14. Tash explains what’s happening next with Slip. (22’03)