TSP008 | Scott McGregor – Rocket Ride to Funding
Posted by John Livesay in podcast | 0 comments
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Episode Summary
Scott McGregor is a consultant for tech startups based in Silicon Valley. Scott shares an amazing story about Rick Giarrusso raising ten billion dollars to build a rocket and how entrepreneurs can mimic his strategy to get the funding they need for their own business. He also talks on being committed to your business 100% and why you shouldn’t worry about your idea getting stolen.
Key Takeaways
- 02:40 – Scott’s grandfather told him that he has a duty to make the world better.
- 06:40 – Scott shares an amazing story on how Rick Giarrusso of Rotary Rocket was able to raise ten billion dollars.
- 18:45 – KickStarter is an excellent way where you can reach potential customers.
- 25:30 – Until you make a lot of money, no one is interested in stealing your idea.
- 28:30 – Scott talks about why The Goal is a great book for entrepreneurs.
Tweetables
[Tweet “If you’re trying to raise a billion dollars, that’s too much for Silicon Valley VCs.”]
[Tweet “Go to your customers first and you get them to agree to pay you before you build it”]
[Tweet “You’re the value, not the idea.”]
Links Mentioned
The Goal by Eliyahu Goldratt and Jeff Cox.
Selling the Wheel by Jeff Cox.
Scott McGregor
Swift Design Group
Point Green
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TSP007 | Ben Larson – Be Enchanting to Investors
Posted by John Livesay in podcast | 0 comments
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Episode Summary
Ben Larson talks on the importance of answering all the questions in your pitch and why the customer should come first before the product
Key Takeaways
- 01:15 – People buy emotionally and then back it up with logic.
- 01:25 – Ben explains his favorite acronym, P.I.G. (Passion, Intelligence, Grit)
- 03:05 – The founder and CEO of Pandora received 300 “No’s” from investors.
- 06:23 – Ben shares his favorite success story.
- 11:30 – Have you ever been pitch assaulted?
- 16:40 – In a pitch, have a question and then follow it up with an answer. Repeat this structure.
- 20:20 – It’s about the person, not the idea.
- 21:50 – Enchanting the investor
- 25:40 – Don’t sell the product, look at how your customer thinks instead.
- 28:15 – At Founder Institute, they focus on building a strong entrepreneur and not a strong idea.
Tweetables
[Tweet “One of Ben’s favorite acronyms is P.I.G. (Passion, Intelligence, Grit)”]
[Tweet “The confused mind always says no.”]
[Tweet “It’s best to assume there are no unique ideas, only unique ways to approach those ideas.”]
[Tweet “Target your assumptions and prove those assumptions wrong or right.”]
Links Mentioned
The Art of the Start 2.0 by Guy Kawasaki [book]
Essentialism by Greg McKeown [book]
http://fi.co/
http://www.blarson.com/
Ben on Twitter: @blars0n
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TSP006 | Jim Beach – Pitching at The White House
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Episode Summary
Jim Beach has successfully pitched the White House and has a radio show that plays on 11 FM stations called School for Startups. He talks to John about his successes, how to pitch the right way, what rock stars in an elevator is about, and much more on today’s episode.
Key Takeaways
- 02:30 – Jim shares a little bit about how he got started.
- 07:35 – Jim and Chris created 14 rock star pitches for their rock stars in an elevator concept.
- 11:10 – Check out Entrepreneur DNA and Bosidna.com to find out what kind of entrepreneur you are.
- 14:45 – Pitching at the White House
- 18:00 – Be very honest with your potential investors. Dump out your dirty laundry first.
- 25:00 – People remember stories, so always tell a story when it comes to promoting your business.
- 27:30 – It’s very easy to hack Google Maps and it can hurt small business owners.
Tweetables
[Tweet “The keys to being successful is having an enticing opening to your pitch…”]
[Tweet “As an entrepreneur, you’re going to get a rejection 9 out of 10 times.”]
[Tweet “It’s more important to find someone who has a different entrepreneurial DNA…”]
Links Mentioned
Entrepreneurial DNA by Joe Abraham
bosiDNA
Exposing Google Maps by Jim Beach
School for Startups Radio
Jim on Twitter: @EntrepreneurJim
JimBeach.com
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