Insight certainty 4/5 debate potential 2/5

Potter: Co-founders generate peer-driven momentum that solo founders lack

Mike Potter · How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show · Mar 1, 2022 · at 9:46

Mike Potter, co-founder and CEO of Rewind, explains how working alongside a co-founder created positive peer pressure while building the company on the side.

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“Having one person do something and then feeling like, oh, I got to do something too. And then you do something and then you sort of feed off of that and you get a lot done. That certainly helped compared to, you know, my first startup when I was working on it like mainly as a sole founder initially, you know, really different dynamic to have a co-founder there to help push you along.”

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More from Mike Potter

Disclosure
Potter: Rewind enforces eight-hour workdays and summer bi-weekly Fridays off
“And so that counterculture sort of extends from the product into the company, where we do things that most companies don't do, where we try and work eight hour days and not 12 or 14 hour days in a startup, where in the summertime we get every other Friday off …”
Mike Potter Mar 1, 2022 ▶ 21:22 How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show
Assertion Not checkable as stated
Potter: Rewind Rebuilt Architecture and Wiped Data Three Times
“We rebuilt the backup system like we wiped everybody's data. Three times in order to get to a system that, that we felt could scale up and scale out to handle all the load that we had.”
Mike Potter Mar 1, 2022 ▶ 14:46 How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show
Disclosure
Potter: Rewind co-founders transitioned full-time without taking any salary cuts
“Julian and I quit in February of, or I guess we quit earlier, but we joined rewind in February of 20 17. And then a couple of months went by and now we were making enough money where James can join us, you know, and none of us had to take a salary cut when we …”
Mike Potter Mar 1, 2022 ▶ 17:25 How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show
Assertion Not publicly verifiable
Potter: Rewind Accumulated Dozens of Five-Star Reviews Before Monetizing
“When we did move to a paid model in January of 2016, so about six months after launch, We already had, you know, dozens of five-star reviews in the app store telling people that it was a great app, that they needed it.”
Mike Potter Mar 1, 2022 ▶ 7:30 How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show
Disclosure
Potter built Rewind working 8 PM to 1 AM after kids slept
“I think, you know, it was in the Tens of hours a week. And it was mainly after the kids had gone to bed. So it was eight to 12 to one in the morning sort of thing. Maybe occasionally waking up early and working on it as well.”
Mike Potter Mar 1, 2022 ▶ 8:25 How to Start a Company on the Side | Mike Potter, Founder of Rewind · PMF Show
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