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For 500 Startups LatAm, POC meetings are twice-weekly check-ins with five members of the team. The goal of each meeting is to discuss major updates with portfolio companies, expansion strategies, and overall company direction, challenges, and plans. Scheduled for 1.5 hours twice per week, Didier said the meetings always stretched to 2.5 hours because there was so much to go over and so much context to digest. This led Didier to question if a tool like Yac could help the team explain context ahead of time, so the meeting would only be for strategic discussions.
500 Startups is now firmly entrenched with Yac for their internal POC meetings, which has Dider thinking about how else the business can save time with Yac. He’s already thinking about trying Yac for regular portfolio company check ins - something that usually takes hours per week. From there, Dider is considering what it might look like for 500 Startups to accept pitches via Yac, something numerous VCs have already tried since it saves them a lot of time versus the traditional first pitch meeting.
Didier found what he calls a “sweet spot” with their point of contact - or POC - meetings.
For 500 Startups LatAm, POC meetings are twice-weekly check-ins with five members of the team. The goal of each meeting is to discuss major updates with portfolio companies, expansion strategies, and overall company direction, challenges, and plans.
Scheduled for 1.5 hours twice per week, Didier said the meetings always stretched to 2.5 hours because there was so much to go over and so much context to digest. This led Didier to question if a tool like Yac could help the team explain context ahead of time, so the meeting would only be for strategic discussions.
In the end, using Yac helped Didier and his team save 20 hours per week of meetings:
Using Yac, the meetings went from 2.5 hours twice per week down to 30 minutes twice per week. That’s four hours per person, per week of meeting time saved. Multiplied by the five team members who have to attend these meetings resulted in saving 20 hours of meeting time per week.
There was also another benefit: other team members wanted to listen into the updates and context-setting yacs, even if they weren’t going to join the POC, which Didier said cultivated a stronger team understanding and connection.