Episode description

Our guest today is Milen Manev, the co-founder and CTO of PlanDelta, a next-generation planning tool bridging the gap between strategic and financial planning. 

With over 20 years of experience in the IT industry, Milen has a wealth of knowledge in software product development and has held various leadership positions, including Vice President at the American software company SyncHR.

He holds a Master Degree in Management of Information Systems from Sofia University St. Kliment Ohridski. 

In this episode we discover Milen’s approach to entrepreneurship, fundraising and what he learned from pitching to the biggest VC funds. 

He talks about: 

• How visualizing failure and making peace with the worst case scenario can help you prepare for hard decisions; 

• Why self-promotion and highlighting your capabilities is crucial during fundraising;

• What sacrifices comes with entrepreneurship and what mental health challenges occur; 

 *This episode of The Recursive Podcast is released in partnership with the European Bank for Reconstruction and Development. As part of their mandate to support small and medium-sized businesses, The EBRD’s SME Finance and Development Team provides knowledge, network, and skills to help emerging businesses innovate, thrive, and succeed.

TIME STAMPS: 

00:00 - Trailer 

01:56 - Introduction

02:27 - How PlanDelta Choose the Problem They Want to Solve

05:52 - How to Know if You Are Solving the Right Problem

09:22 - Carving a Niche in Complex IT Ecosystems: How PlanDelta Identified Its Place in the Big Picture 

15:09 -  Data Integrity for Strategic Decisions in Fast-Moving Startups

17:06 - Mastering the Pitch and How Many Meetings With Investors You Need

27:48 - The Truth About Fundraising as an Early Stage Startup

30:32 - Why and How PlanDelta Fundraised from 17 Angel Investors 

34: 54 - Step by Step: PlanDelta's Methodical Approach to Growth

39:00 - The Fine Line Between Ego and Ambition 

44:28 - Navigating the Competitive Landscape of Tech Startups

51:09 - How to Get Energized as a Founder and the View on Failure

1:04:37 - Mentorship and Asking for Support 

1:08:33 - Outro