From bankruptcies to Ramp: Eric Glyman’s advice for startups
- Define the core of the company early on.
- Be ready for moments of intense pressure.
- Funding rounds should be thought of as science experiments.
- Never take the highest single round price.
- Know when to optimize for a fast decision versus a higher quality one.
Extending the lifespan of businesses has been a recurring theme in our CEO Eric Glyman’s career to date. His very first job was at a firm that helped struggling companies restructure their bankruptcies. After selling his first startup Paribus, Eric teamed up with Karim Atiyeh and Gene Lee to co-found Ramp, a corporate card designed to help businesses save more and spend less.
These experiences have taught Eric a thing or two about building self-sustaining businesses. He recently went on the 20VC podcast to share his top advice for founders:
Define the core of the company early on.
You get pulled in a million directions when building a product. Having a clear view of your company mission will help you put the right constraints in place for your team and move much faster. At Ramp, our singular focus on helping companies spend less guides our decisions and priorities every day.
Be ready for moments of intense pressure.
Extreme stress is inevitable and it's during these times that the worst decisions are often made. At Paribus, Eric and the team once saw 80% of their revenue disappear overnight. He shares how he and the team put their terrified emotions aside to work through the crisis one step at a time.
Funding rounds should be thought of as science experiments.
What do you need to prove with the limited amount of capital you have on hand to unlock the next stage of funding and growth? Asking this question will help you hone in on your most important goals in light of constraints.
Never take the highest single round price.
Take the long view. Your goal is to maximize your ultimate enterprise value, not the value of a single round. Sometimes this means leaving capital on the table so you’re able to pull together the right team and create more upside for your investors and employees.
Know when to optimize for a fast decision versus a higher quality one.
When it comes to core foundational building blocks, take the time to get them right. For all other issues, what matters most is iterating fast instead of proving things right. Push your team to continuously test tactics that lead to incremental, compounding growth.
In his wide-ranging conversation with Harry Stebbings, Eric also tackles the questions of whether the world really needs another corporate card, when to build versus buy, and how to get the most out of your board meetings. To get a full download of Eric’s insights, listen to the 20VC podcast episode here.
“We're accountable to our funders, our partners, and the families we serve. That accountability starts with how we manage every dollar. Ramp makes it easy for our team to spend wisely, track in real time, and keep overhead low so more resources reach the families navigating infertility.”
Rachel Fruchtman
CFO, Jewish Fertility Foundation
“Each member of our team has an outsized impact due to our focus on using high-leverage tools like Ramp.”
Lauren Feeney
Controller, Perplexity
“With Ramp, we haven’t had to add accounting headcount to keep up with growth. The biggest takeaway is that instead of hiring our way through it, we fixed the workflow so we can keep supporting the organization as we scale.”
Melissa M.
VP of Accounting at Brandt Information Services
“In the public sector, every hour and every dollar belongs to the taxpayer. We can't afford to waste either. Ramp ensures we don't.”
Carly Ching
Finance Specialist, City of Ketchum
“Compared to our previous vendor, Ramp gave us true transaction-level granularity, making it possible for me to audit thousands of transactions in record time.”
Lisa Norris
Director of Compliance & Privacy Officer, ABB Optical
“We chose Ramp because it replaced several disparate tools with one platform our teams actually use—if it’s not in Ramp, it’s not getting paid.”
Michael Bohn
Head of Business Operations, Foursquare
“Ramp gives us one structured intake, one set of guardrails, and clean data end‑to‑end— that’s how we save 20 hours/month and buy back days at close.”
David Eckstein
CFO, Vanta
“Ramp is the only vendor that can service all of our employees across the globe in one unified system. They handle multiple currencies seamlessly, integrate with all of our accounting systems, and thanks to their customizable card and policy controls, we're compliant worldwide. ”
Brandon Zell
Chief Accounting Officer, Notion
