Eric Shapiro first became an entrepreneur in 1978, at age 12 in response to a problem he and other kids his age were having in school.

Today, Eric is still having fun being a founder and he makes sure the company culture at ArcTouch, his third startup, reflects that.

As ArcTouch marks its 10th anniversary, Eric joined Tom Dioro and me at the KZSUstudio at Stanford University to discuss why a great friend can be an ideal co-founder; how to maintain your company culture and manage the transition as your business grows; where great startup ideas come from; and why you need to deliver “minimum lovable products.”

Listen to this second episode of The Innovators Radio Show and Podcasthere, or check out the time stamps below.

2:33: Why friends make great business partners

4:33: Getting company culture right

9:26: If we’re being honest: The art of delivering direct feedback

13:29: How to manage your business strategy

16:30: When things don’t go as planned, how to know when to pull the plug

18:05: “The entire company is at summer camp.”

20:32: Sometimes as a founder you’re just winging it

22:51: How to weather the emotional toll of being a founder

27:16: How to manage the transition as your company grows

32:37: There’s an app for that

38:18: How to find opportunities and fight analysis paralysis

41:25: Why problem-centric innovation is key

43:13: Innovating at speed vs. how things used to be done

47:20: Are you having fun yet?

52:38: Why you need to build “minimum lovable products”

55:58: A founder’s legacy

58:00: How ArcTouch got started: Super lean and bootstrapped

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The Innovators Radio Show and Podcast highlights the best and brightest mission-driven entrepreneurs — people dedicated to making the world a better place. The show airs Mondays at 11 am PT/2 pm ET on Stanford University radio station KZSU, 90.1 FM, and is streamed at kzsu.org, Past episodes are archived here.

Tune in June 25 when our guest will be Payam Banazadeh, CEO and Founder of Capella Space, the first U.S. commercial synthetic aperture radar satellite company.