Episode Summary
Mike Edelhart is the lead partner for the Social Starts moment-of-inception investment fund and CEO of the Tomorrow Project.
Key Takeaways
- 02:30 - How did Mike become an angel investor?
- 07:40 - The team is incredibly important. This can not be emphasized enough.
- 10:00 - Mike believes a good team understands clearly what the company's mission is.
- 11:46 - Great teams follow their leader with discipline, but not with rigidity.
- 13:25 - Becoming a unicorn is an outcome, not a cause.
- 14:40 - Having the desire to become an entrepreneur isn't normal.
- 17:00 - Leaders who believe in themselves, their team, and can remain calm when everything goes wrong instills confidence in their team.
- 18:20 - How did Pinterest get started?
- 24:55 - Why did Mike and his team invest in Pinterest in the beginning?
- 27:45 - Entrepreneurs make the common mistake in thinking all investors are the same and they don't do their homework.
- 30:00 - Mike talks about the rabbit archetype in business.
- 30:50 - Mike breaks down the tortoise archetype.
- 32:45 - What's the idea behind the bear archetype?
- 36:15 - The final power animal in business is the hawk. Mike explains further.
- 40:00 - Mike recommends the book Extraordinary Popular Delusions and The Madness of Crowds
Tweetables
Entrepreneurship is a socially accepted form of mania
What you think is true will probably not turn out to be true
Clarity is key trait to get funding
Be obsessive about your customers
Links Mentioned
SocialStarts - The Venture Bestiary: Hunting Beyond The Unicorn
Extraordinary Popular Delusions and The Madness of Crowds by Charle Mackay SocialStarts
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Episode Summary
Michael Walsh is the co-founder of Cariloop and runs the Health 2.0 Dallas chapter. Cariloop is a program that allows people to help manage their older loved ones' healthcare and needs from start to finish. Michael has raised $500,000 in funding during his first seed round and has some valuable insights to share on what truly makes a successful pitch.
Key Takeaways
- 01:40 - Who is Michael?
- 04:45 - Why was Cariloop founded?
- 10:15 - How/why did Michael pick his accelerator?
- 12:10 - The knowledge and the contacts Michael made at the accelerator were priceless.
- 16:05 - How can entrepreneurs figure out how much their company is worth?
- 20:25 - How has Michael spent the $500k he's raised?
- 23:10 - How does Michael handle the competitor question with investors?
- 25:45 - Michael believes telling stories is better than pitching.
- 28:00 - Michael recommends the book Delivering Happiness by Tony Hsieh.
Tweetables
A pitch should be a story that you tell investors.
What are pain points of your customer that you solve?
When you give a customers control during chaos they buy.
Links Mentioned
Delivering Happiness by Tony Hsieh
Michael Walsh LinkedIn
Michael Walsh Twitter
Cariloop Website
Cariloop Twitter
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Episode Summary
Ben Narasin is the General Partner for Canvas Venture Fund. He has 25 years experience has an entrepreneur and started the company Fashionmall.com, one of the first e-commerce sites in 1993. Ben tells the audience that he likes to look for tenacity in an entrepreneur and breaks down what he likes to see in pitch slides. Ben also gives a deep dive into what kind of financial ranges you can expect to find in a pre-seed, seed, and series A round.
Key Takeaways
- 02:00 - Ben started his first company when he was 12. He shares a bit of his background.
- 03:50 - What makes a winning pitch in Ben's eyes?
- 07:25 - Remember, your pitch is the table of contents.
- 07:40 - Ben breaks down in what order he usually likes to see pitch slides.
- 09:40 - What does Ben look for in an entrepreneur? Tenacity.
- 12:40 - You have to say no to the hundred million exit offers if you want to build a billion dollar company.
- 13:35 - Ben talks Fido Labs.
- 18:35 - There's nothing worse than being right at the wrong time. Get in early, but not too early.
- 21:50 - Ben is always looking for the next big shift/idea.
- 25:50 - How much is pre-seed, seed, and series A investing usually?
- 29:20 - Money as a sole-driving force just doesn't cut it.
- 30:55 - Ben recommends a couple of books.
- 32:45 - The dollars that come with your successful are just a natural consequence.
Tweetables
The pitch deck is the table of contents in a navigational way.
It's hot for someone else, it's cold for you.
I need five things to make an investment, people, people, people, the great idea, and a huge market if it works.
Tenacity is the key trait in a founder.
Nothing worse than the right idea at the wrong time.
Team, idea and huge market all needed.
Links Mentioned
Predictably Irrational by Dan Ariely Road Less Traveled by Scott Peck Self-Reliance by Ralph Waldo Emerson Ben Narasin Twitter Folloze
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Episode Summary
Eric Scott is the technical assistant for Max Levchin and works at HVF Labs. Eric helps manage external investments at HVF, which stands for Hard, Valuable, and Fun. Eric talks on how the company got it's name, what Eric and his team look for in a pitch, and talks on why the startup Zen Payroll turned him from a skeptical investor to a major supporter when he heard their pitch.
Key Takeaways
- 02:00 - Eric talks about HFV.
- 04:00 - How did Eric get a job as a technical assistant with Max Levchin?
- 09:30 - How much money does HVF invest in? Around $250k.
- 13:40 - What does Eric look for in a pitch?
- 16:35 - What's a good pitch that has good 'defensibility' against competitors?
- 21:20 - Eric talks a little bit about SmartThings and Cover.
- 24:40 - Eric talks on how he went from skeptical to completely sold when Zen Payroll pitched him.
- 30:10 - What is BlockStream about?
- 36:10 - Eric recommends the book Barbarians at the Gate by Bryan Burrough and John Helyar.
- 38:30 - Don't confuse your investors. Make your pitch clear.
Tweetables
A founder's authentic passion about the problem is infectious to investors
Do your homework on what investors' passion points are before you pitch.
How to make investors go from skeptical to enthusiastic.
Links Mentioned
Raportive
Venmo Glowing
Hard Valuable Fun
Barbarians at the Gate by Bryan Burrough and John Helyar.
Eric Scott Twitter
HVF Twitter
HVF - Breaking the Barrier: the race for the first 1 person $1B company
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Episode Summary
Chris Camillo has an amazing story on how he turned $20,000 into $2 million through investing wisely in Wall Street. He wrote a book on how he was able to identify game-changing trends before anyone else entitled, Laughing at Wall Street. Chris is now the Co-Founder of a recently launched product called TickerTags. TickerTags analyzes and searches for changing trends on social media based on user-defined keywords. Chris talks about TickerTags, raising $1.5 million at the seed round stage, and how he was able to spot trends before Wall Street financial analysts.
Key Takeaways
- 02:20 - Why does Chris love startups?
- 04:05 - How did Chris turn $20k into $2 million?
- 07:45 - Chris shares a story on how you can spot trends before the financial analysts do.
- 10:10 - Chris talks about TickerTags.
- 14:20 - It's a fantastic time to be an stock market investor, because technology is making it easier.
- 16:35 - Chris talks on how he plans to monetize TickerTags.
- 19:40 - How did Chris raise $1.5 million at the seed round stage?
- 21:00 - You must establish yourself as a thought leader.
- 23:00 - When investors trust in your team, it makes it easy for them to invest.
- 24:20 - Every entrepreneur should plan to raise money from their customers first.
- 26:20 - When your customers turn into investors, you have traction.
- 29:00 - Always be upfront with your hurdles and know your competitors.
- 33:30 - Chris suggests to regularly read blogs and to keep up to date with the startup finance space.
- 34:45 - Sign up to TickerTags and mention you heard about them on this podcast to get past the waiting list faster.
Tweetables
All change is detectable.
Be upfront about your hurdles in your pitch.
Know ALL your competitors when you pitch.
Be a thought leader to get funding.
New investors are successful startups not bankers.
Links Mentioned
TickerTags
One Up On Wall Street by Peter Lynch.
Laughing at Wall Street by Chris Camillo
Chris Camillo Twitter
TickerTags Twitter
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