Great webinar with Wendy van Ierschot on funding for HR Tech startups! Wendy is unique investor in our industry as has experience as an HR Manager @Shell, she is super involved in the HR Tech scene, invests internationally and is not only about the money, she has not lost sight of the social responsibility.
The main takeaways for HR Tech founders are:
1. “Never try to sell to the people where you think their jobs will become redundant”
2. “If you must approach HR people, work together with them. At the beginning, co-create with them, it will
ease them up into working with your product”
3. “If it’s a consumer market, overcome your fears of exposing your product and add some influencers from
that market and get their valuable feedback”
4. “There are a lot of solutions to non-critical problems, nice to have”
5. “You (the founder) don’t have to be the most intelligent one, but make sure your team has some very,
very intelligent people”
6. “Virtual reality and augmented reality solutions for recruiting and HR, have not gone mainstream yet and
there is alot to expect there”
Other important insights that Wendy shared:
1. “I want to raise awareness about the dark side of technopoly (Term coined by Neil Postman – “the culture
seeks its authorization in technology, finds its satisfactions in technology, and takes its orders from
technology”.) Specifically, in our field, technology works hand in hand with people and has to serve the
purpose of the company and its employees”.
2. “You should not start if you don’t think you will succeed…But in the end, there is only 1% of the startups that 10X their evaluation. 75% is fame. So, if you heart is not really in it, if it’s not something important to you, if you are not motivated by making a real impact in the world, you will never get the energy to go through this whole journey with the ups and downs.”
3. “One of the first things I would say is, define what kind of an entrepreneur you are… I see a lot of
entrepreneurs…You can build an organization where you can have a very good life and where you can earn
money without being funded and without scaling like idiots. You also have a company with 20 or 25
employees, which is just cashflow positive, which makes profit market margins that are okay, but are not
fundable because you’re not making a scale up the opportunity to 10 times get your money back.”
Contact Wendy van Ierschot here.
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