TSP011 | Randy Rayess – Patience + Persistence = Innovation
Posted by John Livesay in podcast | 0 comments
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Episode Summary
Randy Rayess is the co-founder of Venture Pact as well as an angel investor. Randy was the finalist for the Innovative Awards in 2014 and has a lot of valuable insight for tech entrepreneurs. On the show, Randy talks about the importance of screening a good team, solutions to tough problems do not happen overnight, and much more on today’s show.
Key Takeaways
- 01:45 – How did Randy get the entrepreneur bug?
- 03:40 – How did Randy come up with Venture Pact?
- 04:10 – Work on solving a tough problem no other startup can solve.
- 05:50 – Running a start up is a crazy marathon with a bunch of obstacles on the run.
- 06:35 – It takes time to find the right market and to have a scalable business model.
- 10:00 – Randy looks for a team to vet, not just one person.
- 15:45 – It’s important to find investors who are in the same field you’re in.
- 19:05 – Warm connections are the best way to reach out to an investor.
- 20:30 – Short pitch decks let you focus investors’ attention better than longer pitch decks.
- 21:15 – What should developers do if they’re in the game industry?
- 23:08 – Randy lists a couple of his favorite books.
Tweetables
[Tweet “Startups require a lot of patience and extreme persistence.”]
[Tweet “Work on solving a tough problem no other startup can solve.”]
[Tweet “Running a start up is a crazy marathon with a bunch of obstacles on the run.”]
[Tweet “Short pitch decks let you focus investors’ attention better than longer pitch decks.”]
Links Mentioned
The Power of Now by Eckart Tolle
Drive by Daniel Pink
Only the Paranoid Survive by Andrew Grove
Lean Startup by Eric Ries
@RandyRayess
Randy Rayess LinkedIn
[email protected].
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TSP010 | Danny Cohen – Moneyball Is The Same Game As Getting A Funding Home Run
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Episode Summary
Danny Cohen is the General Partner at Carmel Ventures, which is based out of Israel and has been a Venture Capitalist for the past 15 years. He says his company receives over 500 pitches a year, yet they only do about 7 deals. He gives the honest truth about what a VC looks for in an entrepreneur and talks to John about his favorite pitch, successful startups, and much more.
Key Takeaways
- 02:00 – Why did Danny decide to become a VC?
- 05:10 – The amazing story behind Watch Doc being sold to Blackberry.
- 09:10 – What is OutBrain?
- 12:15 – You can’t fire your investor, which is why you have to choose them carefully.
- 17:50 – The entrepreneur has to understand the market dynamics and their customer base.
- 20:55 – Don’t try to raise funds all in one week. Schedule 3-4 meetings, get feedback, and try it again.
- 23:45 – Danny really loves business books catered around sports.
Tweetables
[Tweet “Relationships are so important no matter where you live.”]
[Tweet “Tell a story that everybody can understand.”]
[Tweet “What is your motivation beyond money that made you do your startup?”]
Links Mentioned
Viola Notes
Israel Venture Capital 3.0
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TSP009 | Paul Grossinger – How To Make Your Pitch A Winner
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Episode Summary
Paul Grossinger is an entrepreneur and angel investor and shares some key insights as to what makes a successful pitch. He truly believes practice makes perfect and tells the audience to always keep practicing no matter how many speeches you have given. He also tells future entrepreneurs not to push the investor too hard from the beginning. Investors need to build a relationship first before they will invest in you and your company.
Key Takeaways
- 01:30 – How did Paul go from journalism to being an investor?
- 05:24 – Paul pays attention to the team and why they’re a right fit for that company.
- 10:20 – Paul likes to really get to know a company well before investing.
- 16:00 – You have to be confident in your delivery when you’re pitching. Practice, practice, practice!
- 22:40 – What are some common pitching mistakes startups make?
- 27:20 – Paul doesn’t always like to go by the book, but recommends a few of his favorites which are Drive by Dan Pink and Purpose Economy by Aaron Hurts.
Tweetables
[Tweet “The most successful entrepreneurs we see are ones that have a deep understanding of their market.”][Tweet “Carve your own path”]
[Tweet “You have to have confidence in your delivery. You have to practice your pitch delivery at least 50-100 times.”]
[Tweet “There is no exception to practicing.”]
Links Mentioned
The Lean Startup by Eric Ries
Drive by Daniel H. Pink
Purpose Economy by Aaron Hurst
Want the Transcription?
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