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Happy Friday letter getters, 

This week's topic is about knowing when to be a student of inspiration and understanding how to apply some of that inspiration to your own work. LaunchLetter itself is a great example of the former, and that's why it's a short read to enjoy before getting started with the day. Time is valuable. There's a time for finding needs and a time for filling needs. So how do you figure out where to spend that precious resource? Here's a perspective on finding balance.  
 

Spencer Combs, Cofounder of Inly.io

 

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Of all the things to keep track of within a business, I'd say invoicing is near the top of the priority list. Outstanding invoices keep me up at night. If there were a sure way to get clients to pay on time, then everyone would probably start a business. So maybe freelancers/business owners can't always force their customers to pay up in a timely manner, but Spencer Combs can help make invoices beautiful, professional, and easy for follow up. He is one of the co-founders of inly. The team has been obsessed with solving the problems within invoicing and back of house for freelancers. They want to make running a business simple, beautiful, and fun. Meet your five minute mentor, Spencer Combs.
How there needs to be a cure for food allergies. This needs to happen.
 
Don't hire outside developers. Learn it and build it yourself as a team. We hired outside developers and the problem was we didn't want to raise capital yet so it cost us a lot and they just weren't invested into building the product like we were as founders. Also it kind of cut us off at the knees because we didn't have the ability to quickly change things because of how much it cost us. Now we do it all in house as a team and have the ability to really move quick and build whatever we dream up or our users tell us they need!
 
Exercise physically and mentally daily. Also I have been working on consuming 30% and creating 70% for marketing, and all things business.
I asked Spencer what he meant by spending 30% of his time consuming and 70% of his time working. He said his goal is to spend 30% of his time learning what other people are doing with their businesses to get a fresh perspective. For him it includes reading about new marketing ideas, watching videos, learning about promotion, doing research on potential partnerships, and understanding more about how other startups become successful. Then, he tries to spend 70% of his time applying that knowledge to his own company. 
 

Startups don't have to be worth a billion dollars. I think it's ok if that happens but I think its shouldn't be the reason you start a company or feel that pressure. I think you need to find a need in a market and try to fill that, help people and bring more value than you take from them.
 

That God has made us all in his image and that he is for us not against us. Also that business isn't magic, its figuring out how to solve problems for people then figuring out how to sell it to them. Then figuring out how to keep that going.
 

Spencer Combs is the cofounder of Inly.io, a company that makes invoicing and contracts beautifully simple.

Recent Achievements: 

A personal accomplishment is Garth Brooks talking about me on stage in front of 80K fans. We started inly because I was a freelance film maker/photographer. I met him on a walk last year and he texted me a few months later asking if I could come shoot his Stadium tour. It was a cool moment because his was my first record I ever bought and now I'm helping him tell his story. It's a full circle moment in my life. 

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  • There is a lot of discussion about work-life balance recently from innovation hubs like San Francisco and New York. Alexis Ohanian is actively pursuing how to introduce paid family leave as a policy discussion. He wrote about it here.
  • Last week's LaunchLetter touched on work-life balance in Michael's answer to the unpopular opinion question. He mentioned that although we are entering a trend that emphasizes not overworking ourselves, that we also remember that good work takes time.
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Steadfast Media’s team has spent the past ten years as growth partners to both tech-enabled businesses and startups. We love helping all kinds of digital pioneers accelerate the pace at which they are reaching customers and audiences. Our unique experience has led us to offer supporting services for all types of businesses looking to grow their technology offerings, as well as leverage our unique experience as startup founders to accelerate your business in general.
 
LaunchLetter is a weekday newsletter from Southern/alpha, a website that features collections of stories and resources for underestimated startup communities. 

LaunchLetter is for founders getting started on an idea or business. Our goal is to share the perspective, habits and positive messages of more experienced founders and CEOs. We hope you find it relatable and delightful as you get focused for the day on your own goals. Enjoy the ride.


 
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Special thank you to Jayme Hoffman for the idea.
LaunchLetter is a newsletter from Southern/alpha, a brand under Corelley Ventures.

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