January 24, 2024

Timo Olkkola

Five learnings from scaling Flowhaven

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TalentBuzz Podcast Summary with Guest Timo Olkkola from Flowhaven

Key Learnings from Timo Olkkola's Experience:

Avoid Chasing 'Ronaldo's' Too Early:

  • Timo advises against pursuing highly experienced, 'star' professionals in the early stages of a startup. Instead, focus on finding passionate and talented individuals who may be younger or less experienced but have the potential to excel in their roles.

Understanding Investment Timeframes:

  • He emphasizes that securing investments often takes longer than expected. Building trust and relationships with investors is a gradual process, and immediate investments are rare. Maintaining connections with potential investors, even if they don't invest right away, can be beneficial in the long run.

Value of Personal Connections Beyond Titles:

  • Timo highlights the importance of seeing beyond titles and connecting with individuals on a personal level. Building genuine relationships can lead to better understanding and collaboration.

Proving Local Product-Market Fit Before Expansion:

  • He stresses the importance of establishing a product-market fit in local markets before expanding and incurring additional costs. This approach helps in scaling effectively and avoiding unnecessary expenditures.

Realistic Growth Forecasting:

  • Timo advises against forecasting unrealistic growth figures. It's crucial to set achievable goals based on a realistic assessment of the market and the company's capabilities.

Founder's Role in the Company:

  • As a founder, it's essential to lead by example and put in the required effort and dedication. However, this doesn't necessarily mean working excessive hours. Instead, it's about doing the right things efficiently and being a source of motivation and support for the team.

Managing Remote Teams:

  • Managing remote teams across various locations presents unique challenges, particularly in maintaining culture and team spirit. It's vital to create opportunities for the team to connect, both professionally and personally.

Importance of Human Connection in Business:

  • Personal interactions and relationships play a significant role in business success. While efficiency is essential, taking time to connect with people on a human level can lead to more meaningful and productive collaborations.

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