TSP005 | Andrew Ackerman – How Meerkat Got Funded
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Episode Summary
Andrew Ackerman is the Managing Director for DreamIt Ventures. He was the COO of Bunk1.com and shares some insight on how he pitched people within 30 seconds or less. Andrew also talks about how Meerkat got started and what it takes to get the attention of a potential investor.
Key Takeaways
- 02:40 – Andrew talks about Bunk1.com
- 09:20 – Don’t pitch everything, just pitch enough so your customer asks you more.
- 17:15 – The one skill that’s critical for an entrepreneur is empathy. Put yourself in the investor’s shoes.
- 18:35 – Andrew breaks down the different viral levels a company can fall under.
- 24:05 – Andrew talks about Meerkat.
- 27:10 – Help an investor understand what makes your company special right off the bat.
- 31:10 – Reach out to Andrew via email with a warm introduction and a clear subject line.
Tweetables
[Tweet “Don’t pitch everything, just enough to get them to lean forward.”]
[Tweet “It’s important for people to realize that just ’cause you’re in love with something doesn’t mean it’s the right thing to pursue.”]
[Tweet “Meerkat is an overnight sensation two years in the making.”]
Links Mentioned
Mastering the VC Game by Jeff Bussgang [book]
Andrew Ackerman runs DreamIt’s startup accelerator program in New York. Serial entrepreneur, former investment manager at a family office, and recovering management consultant. Follow at @AndrewAckerman and @DreamItVentures.
DreamIt is one of the top accelerators in the world, having helped launch 178 companies since 2008 including SeatGeek, Meerkat, LevelUp, Adaptly, Parsely, Elevate, Cloudmine, Biomeme, et. al., who have collectively gone on to raise $270M and who are worth over $810M.
DreamIt is currently accepting applications for the DreamIt Health Philly program starting in July. Application deadline May 1:
http://dreamit.com/apply/
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TSP004 | Andrew Medal – From Prison To Angel Investor
Posted by John Livesay in podcast | 0 comments
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Episode Summary
Andrew Medal has a remarkable story on how he went from a prison inmate to becoming a serial entrepreneur. He talks to John about how he became an Entrepreneur magazine contributor, his charity work with Last Mile, and shares some insightful tips on how entrepreneurs can get investor interest without any experience or a working prototype.
Key Takeaways
- 02:15 – Andrew talks about how he got his job working for an angel investment firm.
- 05:20 – What’s considered a great pitch versus a bad one?
- 09:10 – Andrew talks about the charity project he’s involved with called Last Mile.
- 16:35 – Mistakes are an important part of an entrepreneur’s journey. Don’t give up on taking chances and risks.
- 21:30 – How can entrepreneurs raise money without a working prototype?
- 28:30 – Andrew recommends people read The Lean Startup by Eric Ries
Tweetables
[Tweet “Paint a picture to #investors. Become the #Picasso of Pitches.”]
[Tweet “There’s a lot of first time entrepreneurs that don’t have experience, so explain to your investors why you’re the right team.”]
[Tweet “Just because you’ve made a mistake, doesn’t mean you should stop dreaming.”]
[Tweet “No matter what we’re doing as entrepreneurs, if we’re learning in the process, we’re growing and we should never stop learning/growing.”]
Links Mentioned
http://buzzsumo.com/
http://www.invisionapp.com/
The Art of War by Sun Tzu
The Lean Startup by Eric Ries
AndrewMedal.com
@AndrewMedal
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TSP 003 | Eva Ho – When Google Bought My Startup
Posted by John Livesay in podcast | 0 comments
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Episode Summary
In today’s episode of The Successful Pitch, John Livesay features Eva Ho, the co-founder of Susa Ventures on to give her thoughts on staying true to your focus, being part of an entrepreneurial team and where to find your inspiration. As a member of a small company later taken over by Google (Applied Semantics), she also gives some great insight into what it’s like to have your company bought by an Internet giant, yet still retaining the original family feeling.
Key Takeaways
- 00.14 – John Livesay gives a bit of background information on today’s guest, Eva Ho.
- 03.09 – Regardless of your beginnings, having the drive and ability to network can change everything.
- 04.54 – It’s not just business anymore; try to connect with your clients on a personal level.
- 07.25 – Marketing styles: How important is having a personal brand?
- 10.39 – Conveying your true passion should be a key aim of any pitch you do.
- 12.31 – Being an entrepreneur doesn’t mean going it alone.
- 15.07 – What does having Google buy your company feel like?
- 16.41 – If you do eventually want to sell, ask your investors for help, guidance and their expertise.
- 19.59 – Pre-Google and post-Google: The impact on a small company.
- 21.22 – Changing jobs and seeing the situation from the other side.
- 23.20 – Advice for making a good impression and getting an appointment.
- 26.53 – Eva Ho talks about how to find authenticity and inspiration through certain books.
- 28.10 – Get the know-how, and being a woman can really be an advantage in the tech world.
- 29.27 – Get in touch with Eva Ho via email ([email protected]) or Twitter @eva_ho
Tweetables
[Tweet “You can fake a lot, but you can’t fake passion.”]
[Tweet “Be prepared: due diligence starts before you’re even through the door.”]
[Tweet “Investors aren’t interested in hearing about your exit strategy. “]
[Tweet “Going over to Google was an extension of our family”]
[Tweet “How can you scale yourself?”]
Links Mentioned
www.YCombinator.com
The Lean Startup by Eric Ries [book]
Zero to One by Peter Thiel [book]
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