Episode Summary

Andrew Goldner is the co-founder of GrowthX, a trust-network of innovators and investors. GrowthX is more than just a venture capital fund because it focuses on generating value for others first, before making a pretty penny. Prior to starting GrowthX, Andrew was a global business leader and senior technology consultant. Andrew discusses with John on what makes GrowthX different, as well as why startup founders do not need to move locations to build their vision.  

Key Takeaways

• 01:50 - How did Andrew go from Reuters to becoming a VC?  
• 05:15 - You don't have to move locations to get funded.
• 08:10 - What is the vision of GrowthX?  
• 09:00 - Unless your customers are in that expensive zip code, why even move there?  
• 11:45 - GrowthX will be featuring the founders' faces on their website instead of their company logos.  
• 14:25 - GrowthX plays for the long term and is more intently focused on building stronger relationships than bigger and better profits.  
• 16:50 - When you first join a startup, it's best to just sit and listen to those around you before acting.  
• 18:55 - What kind of attitude does it take to become a good startup founder? 
• 21:15 - How can startup founders remain focused?  
• 23:25 - Remember, you have a set of priorities and others need to respect that.  
• 24:30 - Don't mistake 'being busy' as 'making progress'.  
• 28:00 - Is the fund you're trying to reach really the right fit for your vision
• 29:25 - How hard is it really to change someone's behavior? Andrew explains.  
• 32:35 - Visit Growthx.com for more info!  

Tweetables

Links Mentioned

The Successful Pitch
GrowthX
Essentialism by Greg McKeown
Andrew Goldner's Twitter
GrowthX Twitter

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Episode Summary

Nihal Mehta is the Founding General Partner at Eniac Ventures. Nihal has founded five startups and invested in over 100 companies since 1999. He is a noted expert in the emerging adoption of mobile technologies and so much more. In this interview, Nihal says he likes to put pressure on the founders to deliver a product. This is a great way to see how the team handles pressure and whether they're capable of moving quickly in the market. He also says he's grateful that his first startup ended in bankruptcy and failure, because without those experiences he would not have been able to achieve success. 

Key Takeaways

• 02:55 - Nihal talks about the 'A Day in the Life' video.
• 05:40 - The founding team has to be sales efficient.
• 07:25 - How did Nihal get into investing?
• 09:40 - When coaching new entrepreneurs, Nihal tells them to fail fast.
• 11:15 - Nihal's first startup failed and he had to declare bankruptcy. He's glad for that experience.
• 14:15 - Nihal wants entrepreneurs who are passionate about their work and don't care what they're currently wearing.
• 15:10 - Show the product to Nihal as quickly as possible. If you can't do that, it's a red flag.
• 19:55 - Your mission can be about anything, but you just have to be incredibly passionate about it.
• 21:00 - Nihal wants to know that the entrepreneur has at least thought about the acquisition cost for each customer and their life time value.
• 22:55 - Nihal also looks at exit strategy, but he does it a little bit differently.
• 24:30 - How does Nihal like to meet and find new founders?
• 26:20 - What does Nihal like to invest in?
• 27:45 - Nihal comments on how Apple wants more apps and Google wants more people to search the web.
• 29:15 - Nihal recommends four books off his Kindle.

Tweetables

Links Mentioned

Eniac
A Day In The Life: There's No 'White Space' in Nihal Mehta's Calendar
Zero To One by Peter Thiel
The Hard Thing About Hard Things by Ben Horowitz
The Everything Store by Brad Stone
David and Goliath by Malcolm Gladwell
Nihal Meta's Twitter

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Episode Summary

Adam Quinton is the founder of Lucas Point Ventures, an early seed stage investment company. Adam talks about both his investment strategy and philosophy on today's show. He also shares his thoughts on what makes a successful pitch as well as gives valuable advice on how a founder can prepare for that second meeting. 

Key Takeaways

• 03:35 - How did Adam get started?
   
• 05:45 - What are the three things Adam looks for in a pitch?
   
• 07:45 - Why will your product work now?
   
• 08:30 - If you haven't got a co-founder now, find one.
   
• 08:50 - Multiple co-founders can help with stress.
   
• 11:45 - Don't fill your pitch with lots of facts, because ultimately it's about you.
   
• 12:30 - Adam doesn't like video product demos.
   
• 14:35 - How can you place yourself in front of the right investor?
   
• 17:25 - Why did Adam invest in Snaps?
   
• 19:55 - Does Adam like a particular startup genre?
   
• 21:55 - What's Adam's investment philosophy?
   
• 26:00 - Would Adam invest in the competitor of a company he has already backed?
   
• 27:45 - Adam shares a pitch he loved back in 2012.
   
• 29:05 - A husband and wife were the founding team of Rapmedia.
   
• 31:05 - How does a founder prepare for the second meeting?
   
• 34:55 - Is it important for founders to have an exit strategy?
   
• 36:40 - Adam recommends three books.

Tweetables

Pitch Deck is a prop to showcase you.
Investors don't buy the product, they buy equity in company.
Angels are in exit business, not investing business.
Get a co-founder to help manage stress.

Links Mentioned

JRobinett
How to Make Your Startup Irresistible to Investors in 5 Easy Steps Webinar
Lucas Point Ventures
Adam Quinton LinkedIn
The Muse
Snaps
Rapmedia
Venture Deals by Brad Feld
What Every Angel Investor Wants You to Know by Brian Cohen
Startupland by Mikkel Svane

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Episode Summary

Claudia Iannazzo is the General Partner at Pereg Ventures, an early-stage venture capital firm. On average, Claudia hears of approximately 1,500 pitches a year, but only 5 of those actually get funded. Claudia shares her criteria on what she looks for in an entrepreneur, but also reveals an interesting insight. Despite not believing in the entrepreneur at first, she has funded them in the end, because they were able to prove their idea and their worth later down the line. 

Key Takeaways

• 03:20 - How did Claudia get started?

• 6:50 - If you don't make it easy, you'll get excluded.

• 10:50 - What is the difference between working in Australia vs. U.S.?

• 11:00 - When Claudia left Australia, she vowed never to start a company there ever again.

• 13:15 - Is investing in a company like a marriage? Claudia says it can be worse than a marriage.

• 14:50 - When Pereg Ventures invests, they get actively involved
  with the company.
• 17:55 - How are entrepreneurs opening new doors for their customers?

• 20:55 - A warm introduction is always best, but if you can't get one, don't be afraid to try a cold one.

• 21:50 - What makes Claudia want to invest in a particular entrepreneur? What are her criteria?

• 24:15 - Out of 500 companies, Claudia will only like 100 of them. 50 of them are worth a closer look. 10 will receive a formal due diligence check and 5 of those will get funded.

• 26:30 - By 2017, CMOs will spend more on technology than their CIO counterparts.

• 27:35 - Claudia recommends reading sci-fi books.

Tweetables

If you don't make it easy to understand, you won't get funded.
Investors want to be charmed by founders.
Talk with investors, not to them.
Do your customers see the value in what you do?

Links Mentioned

Judy Robinett Website
Pereg Ventures

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