What do I do when my back is against the wall? | with Max Lambsdorff from ExpressGroup

About this episode

In 2021, ExpressGroup was nearly insolvent after a planned financing round fell through. Today, the company is a successful Series A startup. Founder Max Lambsdorff shares his experiences from this critical phase and offers practical advice for founders facing similar situations.

From Crisis to Success: The ExpressGroup Story

ExpressGroup, known for their product ExpressSteuer, has traveled a rocky path. What today stands as a success story was still an existential crisis in 2021. Max Lambsdorff had to learn how to stand with his back against the wall and still find a way forward.

Lambsdorff has experienced "all the ups and downs" in his startup journey – an experience that will sound familiar to many founders. Yet it's precisely these extreme situations that teach the most important lessons in entrepreneurship.

When Money Runs Out: First Steps in Crisis

What does a founder do when money runs out? This question confronts almost every startup sooner or later. Lambsdorff emphasizes the importance of keeping a cool head when finances suddenly don't add up.

The first step: honest assessment. How much time is left? What options exist? And most importantly: who can you speak openly with about the situation?

Neutral Feedback: Finding the Right Conversation Partners

One of the biggest challenges for founders in crisis situations is getting neutral feedback. Family and friends are often too emotionally involved, while your own team may be too close to the problem.

Lambsdorff recommends building a network of experienced entrepreneurs and advisors who have already lived through similar situations. These people can provide objective assessments and help identify blind spots.

Building Momentum: From Survival to Growth

After the initial crisis phase, it's about building momentum again. This reveals the difference between an emergency financing round and a planned VC round. While the former serves pure survival, the latter enables strategic growth.

For ExpressGroup, this meant putting customer value at the center. ExpressSteuer offers optimized solutions for people outside the FinTech world – an approach that has proven successful.

VC Fundraising: What Really Matters

For fundraising, Lambsdorff gives clear recommendations: focus should be on intro, pitch deck, and analyst call. But when is the right time for each of these steps?

It's important not to let hypotheses run completely wrong. Data-driven decisions, clear KPIs, and regular validation of assumptions are crucial for success.

New Verticals and Countries: Timing is Everything

Today, ExpressGroup is expanding into new verticals and countries. But why is now the right time for this? Lambsdorff explains how important it is to first create a solid foundation before scaling.

The lesson: even after surviving a crisis, growth should be controlled and data-based. Overconfidence can quickly lead to the next crisis.

Conclusion: Understanding Crises as Opportunities

Max Lambsdorff's story shows: even when your back is against the wall, there are ways forward. The most important factors are keeping a cool head, having the right conversation partners, and being willing to learn from mistakes.

For founders in similar situations, his message is clear: crises are part of entrepreneurship. What matters is how you deal with them and what you learn from them.