Investor Connect Podcast

On this episode of Investor Connect, Hall welcomes Rob Matzkin, President and CEO at Rob Matzkin Entrepreneurship Group.

Located in New York, New York, USA, Rob Matzkin Entrepreneurship Group is specialized in coaching entrepreneurs to grow their businesses through innovation while generating power and momentum by finding true life balance and fulfillment. The 1-1 coaching sessions aim to create a clear vision, gain confidence, and change perspectives. 

Rob, is a Performance and Leadership Coach and a Ten-time Startup Founder with multiple successful exits, an angel investor, and a public speaker. Rob focuses on the mental, tactical, and strategic aspects of leading and growing a company. 

Rob has built a vast international network of partners, clients, companies & high-net-worth colleagues & continues to work diligently to create opportunity, & success through passionate service. 

Rob helps entrepreneurs exceed their businesses' goals while also living their dream life! 

Visit Rob Matzkin Entrepreneurship Group at www.robmatzkin.com, www.linkedin.com/company/entrepreneurship-coach.

Reach out to Rob at robmatzkin@gmail.com and ww.linkedin.com/in/rob-matzkin-06027634. 

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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Rob_Matzkin_of_Rob_Matzkin_Entrepreneurship_Group.mp3
Category:general -- posted at: 5:00am CDT

Jobs To Be Done

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Jobs to be done is a mental model in which you look at the customer's workflow to determine what they might need to complete their jobs.

This concept came from Clayton Christensen and provides insight into what product your startup should build.

It provides a framework for understanding customer needs.

As Henry Ford once said, if I had asked the customer what they wanted, they would have said "a faster horse".

To implement jobs to be done in your startup consider the following:

Start with the needs of the customer and what result they want.

Look at how they currently solve the problem including the unnamed competitor ‘do nothing.’

Look at competitors in other industries for potential solutions.

Determine the buying criteria of your customer and create a short list of the three most important points.

Consider the challenges in customer adoption for your proposed solution.

Estimate the value of your solution by asking how much time or money would your solution save the customer.

Consider viewing your customers and competitors through the jobs-to-be-done lens.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
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Direct download: Jobs_To_Be_Done_.mp3
Category:general -- posted at: 5:00am CDT

Circle of Competence

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Circle of competence is the area in which one has a skill or expertise.

Tom Watson the founder of IBM once said, “I’m no genius.  I’m smart in spots and I stay around those spots.”

You don’t have to be an expert in everything to be successful.

You do need to know a specific area and where the limits are.

The founder needs to know their circle of competence and operate within it.

Those who move to a new industry may find it challenging as their expertise no longer matches the domain.

The more narrow the circle of competence, the deeper one can go into it.

Founders and investors should assess their skills, experience, and what gives them an edge.

Is the founder moving outside that area?  Will they have the same edge in the new domain?

Some of the best deals to fund are those where the team’s circle of competence covers the startup’s domain completely.

Investors reviewing a startup for investment should estimate the circle of competence of the founder. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: Circle_of_Competence_.mp3
Category:general -- posted at: 5:00am CDT

Eisenhower Matrix

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The Eisenhower Matrix is a mental model for prioritizing your time and tasks.

It puts the most important things ahead of what is often considered urgent.

Dwight D. Eisenhower was the Supreme Commander of the Allied Forces in Europe during WWII.

He was known for his ability to manage his time and the work to be done.

He noted that the most urgent decisions were rarely the most important ones to get done.

He mapped out decisions into the following matrix of urgent vs important.

Urgent and important -- items should be done immediately.

Important and not urgent -- require a plan for when they should be done.

Urgent but not important -- tasks should be delegated to someone else.

Not important and not urgent -- tasks that should be set for action later.

Startup founders should focus on the important things to get done as there is a great deal of work to be done in a startup.

You’ll need planning tools to manage all the tasks both those that need to be done now and those for later. 

Apply the Eisenhower matrix to your daily schedule to see how it improves your startup's progress.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
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Direct download: Eisenhower_Matrix_.mp3
Category:general -- posted at: 5:00am CDT

Schlep Blindness

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Schlep is a tedious or difficult journey.

Schlep's blindness is overlooking the obvious startup ideas as everyone is used to working in a current manner.

Most founders can’t see many ideas because of schlep blindness -- they know how hard it is so they don’t consider it. 

Look for ideas you want to be solved and then set out to solve them. 

It’s best to just start and work your way through it before common sense stops you.

The easy ideas are pursued by many and come with a great deal of competition.

The hard ones are pursued by fewer and have less competition.

A startup must undertake many schleps to succeed.

It’s the boring details that must be done.

Novice founders often take on these challenges because they don’t know what they are getting into.

Experienced founders avoid these ideas because they know the challenges ahead.

Startups should look for hairy, audacious goals to solve as those are more valuable.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: Schlep_Blindness_.mp3
Category:general -- posted at: 5:00am CDT

Power Law

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The power law is a key mental model for venture investing. 

The power law states that the majority of the returns will come from just a few of the investments.

Similar to the Pareto principle, 20% of the deals will account for 80% of the returns.

In venture capital, the power law requires that each investment have the ability to pay back the entire fund as only a few will have outsized returns.

The returns from those winning investments will cover the losses from all the rest.

This is different from other investment classes which produce returns based on the normal distribution.

As an investor in the venture space, you must be willing to suffer many losses for only a few wins.

It can be hard to select upfront which ones will have outsized returns. 

Some use an index strategy to place investments trying to include as many deals as possible.

Once invested, it’s best to support all the companies in your investment portfolio.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Category:general -- posted at: 5:00am CDT

On this episode of Investor Connect, Hall welcomes Anshuman Gwal, managing partner at Brightside Partners.

Located in Toronto, Ontario - Canada, Brightside Partners is an early-stage VC fund investing in startups that improve the way consumers meet their day-to-day needs (retail, healthcare, education, etc. aka foundational Industries). They are launching a venture capital fund to invest in "Day-to-day Tech” (D2D tech - technologies that disrupt incumbents in foundational industries and improve the day-to-day life of an average North American). 

Their focus on Foundational industries is complementary to their established core competencies, network with industry-leading incumbents, and deal flow. They have already started sourcing and accelerating startups that are relevant to their thesis (from pre-Seed through Series A investments). They are planning to launch a fund of around $17M with this mandate in early 2023.

Ansh, is a strategic leader with over $200M in sales with fortune 500 companies and has managed relationships with large multinationals in Data and AI space. He is highly passionate about connecting with relevant accelerators, startups, and investors to capture their interests and focus areas. 

Ansh has managed large technology partnerships and teams across the globe with a strong network in emerging tech hubs such as India that startups value heavily to execute the ideas. He is also very active in influencing startups as a member of the Founders Institute and with various startup accelerator programs.

Ansh advises investors and fundraisers and provides seed funding for startups.

Visit Brightside Partners at www.thebrightsidepartners.com, www.linkedin.com/company/brightsidepartners, AND ON www.twitter.com/BrightsideViews

Reach out to Ansh at anshuman.gwal@thebrightsidepartners.com, or www.linkedin.com/in/agwal.

 

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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Anshuman_Gwal_of_Brightside_Partners.mp3
Category:general -- posted at: 5:00am CDT

Total Addressable Market

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The total addressable market is the size of the market that represents the total potential revenue for a product.  

This is the market that could ever buy the startup’s product.

In the startup world, there’s truly no limit to how big a company can grow.

Investors look for business opportunities with large upside potential.

Startups focus on large markets as it provides the most potential and the best chances for success.

Large markets provide many opportunities for entering the market and positioning within the market relative to competitors.

The larger the market the better chance of the startup finding product/market fit.

Within the total addressable market, there is the serviceable market which is the size of the market you can reach.

This does not mean the startup must actually reach the full market to be successful but rather it shows the opportunity.

Within the serviceable market, there is the beachhead market which is the first set of customers to pursue.

This gives the startup an area to focus on in entering the market.

The total addressable market is a mental model startups and investors use to assess business opportunities.

In raising funding, it’s important to know the size of the market and the segments before pursuing it.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Total_Addressable_Market.mp3
Category:general -- posted at: 5:00am CDT

Flywheel Effect

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The flywheel concept comes from the industrial world in which a large mechanical flywheel gains momentum from small steps and eventually creates enough momentum to generate its own motion.

In the startup world, the flywheel effect refers to an alternative to the sales funnel by building a growth machine by connecting strategy with incremental steps in building customer loyalty.

Growth comes from satisfied customers who continue to use the product and tell others about it.

The flywheel effect generates exponential growth.

To create the flywheel effect, the startup should seek ideal customers and not just any customer. 

For startup founders choose your customers carefully and leverage them to find more.  

Set up a strategy for acquiring customers, keeping customers, optimizing your profit, and generating new customers from your existing ones.

Use the hedgehog principle which states a company should understand what it can be great at and not just set a goal for it.

Companies achieving greatness most often have a flywheel effect in place. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Flywheel_effect.mp3
Category:general -- posted at: 5:00am CDT

Agile Development

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Agile development takes an iterative approach to building software.

Instead of one monolithic development, agile proposes incremental changes.

Agile is a useful mental model in the startup world as it fits well with the startup dynamic.

Startups use agile development as they are still learning about customer requirements.

As the customer base expands the startup finds new requirements to build.

The startup is always reviewing the customer requirements and implementing them on a step-by-step basis.

This approach also allows for developers to learn new ways of building the software and improving the process as they go.

The development team using agile is organized with cross-functional groups and re-organizes continually throughout the project.

Instead of focusing on a fixed set of requirements to be met, the agile team focuses on the customer base through user stories and personas.

User stories show how the startup's product fits into the user's workflow.

Personas show how different types of customers use the product in different ways.

Projects are planned in stages and tracked using milestones.

Agile is the primary mental model for product development in the startup world. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Agile_development.mp3
Category:general -- posted at: 5:00am CDT

First and Last Mover Advantage

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In startup markets, there are advantages to being the first mover and advantages to being the last mover.

Here are some advantages of being a first mover:

The first mover in a market can gain market share due to the lack of competitors.

The first mover can gain branding and mindshare with the customer base.

The first mover has more time to build out their product and reduce their costs.

The first mover has an advantage over other companies who will be seen as “me-too” competitors.

Here are some advantages of being the last mover:

The last mover may have an advantage by adopting the latest technology and business models.

The early entrants often lock into older technologies and must spend substantial resources educating the market.

The last mover reduces their costs by copying product concepts and business models rather than inventing them from scratch.

Consider your startup's approach to an emerging market and choose your entry point based on your company strategy.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: First_and_Last_Mover_Advantage.mp3
Category:general -- posted at: 5:00am CDT

AARRR

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

AARRR stands for Acquisition, Activation, Retention, Referral, and Revenue

It’s the mental model for the customer lifecycle.

In growing sales this model breaks down the process into stages and steps which the startup can metric as follows:

Acquisition --  find users through multiple channels

Activation --  excite customers with your product 

Retention --  bring the customers back to your site several times

Referral --  generate word of mouth buzz to bring others to the site

Revenue -- monetize some of the users

Acquisition can be through social media, email, content marketing, or other.

Activation can be a user coming to a landing page on the website.

Retention can be engagement through email or interactions with a blog.

Referrals can be others coming to the website based on word of mouth.

Revenue comes from advertising, monetizing data, or subscription services.

This is the standard playbook for tech startups.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
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Direct download: AARRR.mp3
Category:general -- posted at: 5:00am CDT

Inversion Mental Model

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The inversion mental model generates new startup ideas by inverting the problem.

By looking at the problem in reverse you can ideate new product solutions and business models.

This technique tests the assumptions and gives us a new way of thinking.

For example, instead of asking "how can we build the best product". 

Invert the question and ask "how can we build the worst product".

Then ideate on what would make the product the worst.

With a list of ‘worst product’ ideas invert back to the original question on how to make the best product.

Inversion also works in identifying new business models.  

For example, instead of a vendor selling a product online by listing a price. 

Invert the model and have the buyers bid on the product.

This turns the transaction into an auction model.

You then test the model with customers to see if it resonates with them.

Inversion is a powerful mental model for startups to ideate new products and business models. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: Inversion_mental_model.mp3
Category:general -- posted at: 5:00am CDT

On this episode of Investor Connect, Hall welcomes Christian Napier, Founder / CEO at Rakonto Inc.

Located in Sandy, Utah, Rakonto Inc. provides a platform that allows organizations to harvest contextual or tacit knowledge, through simply talking. They remove the friction inherent in the process of requesting, recording, receiving, transcribing, transforming, curating, and sharing tacit knowledge, experiences, and stories.

Ultimately, the human family is built on relationships, and they help build bonds by enabling people to connect through stories - recorded on video and automatically transcribed - shared on the platform.

Christian, is the Founder and CEO of Rakonto. He has more than 28 years of experience in technology, knowledge, and learning, with more than two decades working in Olympic Games and major sports events.

Since 2015, Christian has served as the International Olympic Committee's knowledge management advisor. In this capacity he has interviewed more than 1,500 people responsible for organizing the Olympic and Paralympic Games in Rio de Janeiro, PyeongChang, Tokyo, Beijing, Paris, Milan, and Los Angeles, compiling what may be considered the largest oral history of the Games.

Christian helps people and organizations build community, connection, and understanding through simply talking.

Visit Rakonto Inc. at rakonto.io, www.linkedin.com/company/rakonto, and on twitter.com/Rakonto_io.   

Reach out to Christian at christian@rakonto.io, and on LinkedIn at www.linkedin.com/in/christiannapier

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Christian_Napier_of_Rakonto_Inc.mp3
Category:general -- posted at: 5:00am CDT

Earned Secret

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The earned secret mental model postulates that you should have some information that most others don’t before launching a startup.

The earned secret gives you an edge over other startups through a key insight into the customer or industry.

Those outside an industry have little or no insight into it.

Insight comes to those who work in the industry and test the assumptions and boundaries.

Here are some key points to consider about your earned secret:

Think through your view of an industry and think about what insight you may have.

What do you know that others don’t know?

For any insights consider how many others may know it.

Is it counterintuitive? Is it non-obvious?  

Has the market changed over time and it is now the norm?

How did you find this earned secret? 

Were you working in a niche in the industry? 

Will the earned secret apply to the rest of the industry or even outside the industry?

Test your earned secret to see if it can be monetized.

Most successful startups have some angle into the market that comes with a unique perspective.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: Earned_secret.mp3
Category:general -- posted at: 5:00am CDT

Minimum Viable Product Mental Model

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The minimum viable product called MVP tests the market before building the final product.

The MVP is designed to gain customer feedback and show market validation to the investor.

It tests the riskiest assumptions with small experimental products.

The MVP is not an early version of your go-to market product but can take many forms.

There can be more than one MVP as the startup should always be testing the market and customer reactions.

While asking customers what they want is a useful step, giving the customer a product to use elicits much deeper feedback.

Most MVPs start as mockups of the application proposed to prospective customers.

If the feedback is positive a small version of the product is built and tested with prospective customers to see if and how they would use it.

A key test of an MVP is will the customer pay for it.

It’s important to charge for one of the MVP products to test a customer’s willingness to pay.

MVPs can be landing pages, one-function mobile applications, a crowdfunding campaign, or others.

Each one is designed to test the interest of the customer and how to engage them.

The MVP is an ongoing process and not a one-time test.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: Minimum_viable_product_mental_model.mp3
Category:general -- posted at: 5:00am CDT

Product Market Fit Mental Model

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Product market fit is a mental model that demonstrates your product meets the market's requirements.  

It’s a key milestone in the journey of the startup as it’s the point of inflection for growth and later scale.

Without product market fit the startup will most likely fail.

A startup has achieved product market fit when demand outweighs the supply. 

In other words, customers demand your product faster than you can provide it and you know why they want it.

When you achieve product-market fit customers are spreading the word about your company.

If you stop providing your product your customers have a real problem.

When you don’t yet have product market fit you can change the product, the market, the team, or the value proposition.

Scaling before achieving product market leads to failure as you’re increasing your costs before you have your revenue growth machine in place.

Achieving product market fit is the primary goal of the early-stage startup.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Direct download: Product-market_fit_mental_model.mp3
Category:general -- posted at: 5:00am CDT

The Idea Maze

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The idea maze is a mental model for how a founder sorts through the plethora of ideas to find the right one on which to build a startup.

There are many choices including the problem to solve, product to build, and how to monetize.

In navigating the idea maze for your startup consider these points:

Know the industry well enough to know what ideas have worked and what did not.

One learns more from the failures than the successes.

Borrow from other industries to apply to the sector you are pursuing.

There are more good models to draw from outside your target sector.

Work in the industry to learn more about the current structure.

There you will find experts that can give you feedback on your ideas.

Identify the core challenge to solve.

Make the core problem your central focus then walk through the various ideas to test them.

Watch for disruptions in the industry from the market, technology, or other.

Disruptions provide a new set of ideas to apply.

Map out the idea maze for your next startup to see how many possible solutions exist.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Direct download: The_idea_maze.mp3
Category:general -- posted at: 5:00am CDT

On this episode of Investor Connect, Hall welcomes Justin Izzo, Lead Data and Trends Analyst at Dropbox DocSend.

Located in San Francisco, California, Dropbox DocSend enables companies to share business-critical documents with ease and get real-time actionable feedback. With DocSend's security and control, startup founders, investors, executives, and business development professionals can build business partnerships that have a lasting impact. Over 30,000 customers of all sizes use DocSend today.

Dropbox is the one place to keep life organized and keep work moving. With more than 700 million registered users across 180 countries, they are on a mission to design a more enlightened way of working. 

Justin is a trusted insight professional with 15 years of research and leadership experience. He is a passionate data-driven researcher who uses deep analysis, persuasive writing, and interdisciplinary skills to find new opportunities, discover unexpected connections and tackle organizational challenges.

Justin conducts research experience, including applied research, for example: Focus groups, participant observation, structured and semi-structured interviews, ethnography, narrative strategies, cultural studies, and content analysis. He attended Duke University and holds a Ph.D. in Literature and a MA in Cultural Anthropology. Justin also attended New York University for his Bachelor of Arts in French Language and Literature.

Justin helps folks how to prepare pitch decks and fundraise, using fundraising surveys and pitch deck data. 

Visit Dropbox DocSend at www.docsend.com and on Twitter at twitter.com/docsend.

Reach out to Justin at justinizzo@dropbox.com, and on LinkedIn at  www.linkedin.com/in/justin-izzo.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

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Direct download: Justin_Izzo_of_DocSend_at_Dropbox.mp3
Category:general -- posted at: 5:00am CDT

The Babe Ruth Effect

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The Babe Ruth effect mental model comes from Babe Ruth who once said:

I swing big, with everything I’ve got. I hit big or I miss big.”

The mental model postulates that it’s better to take big risks than to avoid failure.

Eventually, the big risks will pay off and will outweigh the failures.

In investing, venture capitalists follow the Babe Ruth effect by betting big and then ignoring the ones that didn’t make it.

To pursue the Babe Ruth effect as an investor consider the following:

Find sources of quality deal flow.

There’s no shortage of deals, but there is a finite number of quality deals.

Setup a process for diligence and deal negotiations.

It’s a process that you will repeat many times so set it up for efficiency.

Startup success rates tell us only one in ten will be a home run. 

Prepare yourself mentally to lose on seven to nine deals out of every ten.

Invest with others to share the deal flow and diligence.

It takes substantial work to fund and then support a deal so don’t go it alone. 

The Babe Ruth effect tells you to focus on maximizing the upside and not just mitigating the downside.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Direct download: The_Babe_Ruth_effect.mp3
Category:general -- posted at: 5:00am CDT

Regret Minimization

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The regret minimization mental model helps you make difficult decisions by projecting yourself into the future and looking back on the decision to be made.

Jeff Bezos once said, 

“I knew that when I was 80 I was not going to regret having tried this.”

Today you are your present self.

Tomorrow you are going to be your future self.  

The key to practicing regret minimization is to project into your future self.

This helps you make difficult decisions by placing yourself into that future situation.

For example, if you have a challenging task to do today, you can ask your present self what you want to do.

Your present self will say do it tomorrow.

If you ask your future self what you want to do, then you’ll say, do it today.

Consider how your future self will make a decision in addition to your present self. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Direct download: Regret_minimization.mp3
Category:general -- posted at: 5:00am CDT

Disruptive Innovation

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The disruptive innovation mental model describes a simple innovation starting at the bottom of a market and then moves up the curve to overcome the industry incumbents.

This mental model was first defined by Clayton Christensen in his book The Innovator's Dilemma.

Industries with expensive products are overtaken by companies operating in overlooked sectors but through innovation overtake the industry.

The personal computer is an example of disruptive innovation.

It started out as a basic machine that provided only simple solutions.  

The more expensive mini computers and mainframes were too expensive for non-business applications.

It was used for gaming when there were no business software applications available.

Over time, the personal computer grew in performance and took on business use cases.

It was lower cost and more available to the average person and small business. 

Disruptive innovations make products more affordable and available to a wider range of users.

Consider using disruptive innovation to launch your product or service.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Disruptive_innovation.mp3
Category:general -- posted at: 5:00am CDT

The Why Now

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

"The why now" mental model builds the case that now is the right time to launch and raise funding for a startup.

Timing is key to a successful startup launch.

Launch too soon and the market won’t be there.

Launch too late and the competition will be too far out in front of you.

Here are some key steps to use the "why now" in your fundraising pitch.

Point out key metrics from legitimate sources about changes in the market.

Confirm those trends are happening now with your personal observations.

Cite quotes from others verifying the trends.

Show how your startup will take advantage of those changes.

Articulate three reasons why your startup is best positioned to win.

Call out the opportunity to be achieved and use numbers to quantify it.

The 'why now’ mental model shows now is the best time to start a business.

It gives immediacy to the fundraising pitch.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
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Direct download: The_Why_Now.mp3
Category:general -- posted at: 5:00am CDT

Introduction to Mental Models

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A mental model according to Wikipedia is “an explanation of someone’s thought process about how something works in the real world".  

It is a representation of the surrounding world, the relationships between its various parts, and a person’s intuitive perception about their own acts and their consequences.”

Mental models help solve problems and simplify complex situations.

An extensive list of mental models gives one an edge in competing in the startup world. 

Mental models provide additional tools for understanding startup challenges such as raising funding, developing products, managing the team, and closing customers.

Many mental models help frame the problem in a way that makes the answer clear.

The startup world brings many mental models for founders and investors to consider.

The more mental models you have, the stronger your management skills.

Mental models are not included in formal education programs.

You find them in the writings of experienced founders and investors.

These founders and investors developed mental models after solving the same problem over and again.

The more you can learn these mental models, the fewer mistakes you’ll make. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
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Direct download: Introduction_to_mental_models.mp3
Category:general -- posted at: 5:00am CDT

This is the Investor Connect Hot Topics program.

I am Hall Martin, the host of the show in which we dive into current topics and how it impacts the startup space.

I hope you enjoy this episode.

_______________________________________________________

Thank you for joining us for the TEN Capital  Hot Topics Program where we dive into current topics and how it impacts the startup space.

For more episodes, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/  

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Product Roadmaps

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The product roadmap is a shared resource that outlines the vision, priorities, and direction of a product over time.

It aligns the goals of the company to deliver the product and sets the expectations of the customer.

The first product is the minimum viable product and sets the starting point for the product roadmap.

Each version thereafter builds on what came before.

Each version of the product should have a primary theme.

This could be solving a product for a type of buyer. 

This could be adding a major new capability that all customers can use.

Product roadmaps are driven by revenue generation priorities.

Which feature set will generate the most revenue.

Product roadmaps are also used as a competitive advantage by providing features that others do not have.

Each themed version of the product will come with a series of features and benefits.

This provides a technical list of features to implement.

Many customers don’t buy the product for the current version but rather for the product roadmap it brings.

This can become a selling point to larger customers if they have visibility into the roadmap.

Use product roadmaps not only as a tool to organize your development teams but also as a tool to close customers. 

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Direct download: Product_roadmap.mp3
Category:general -- posted at: 5:00am CDT

Pre-seed Product Work

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The minimum viable product is one of the more challenging products to design.

There are many choices and limited resources available.

In designing your MVP consider the following:

Scope into your core technology in building out the first version.

Eliminate as much of the surrounding building as possible.

Take a specific use case and focus on solving that alone.

Focus on learning the customer’s problem.

Consider as many implementation options as possible.

Don’t set your heart on a particular implementation of the product.  

In general, the MVP will not be your first product but will lead you to it.

Set a deadline for finalizing the design and then set a deadline for building it.

The deadline should be in weeks and months and not quarters or years.

Try and sell it before you build it.

Build it without raising funding and save the fundraise for the final product.

In addition to building the MVP, build an ideal customer profile for the first version of the product.

Think minimum utility, not maximum capability.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Direct download: Pre-seed_product_work.mp3
Category:general -- posted at: 5:00am CDT

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