TSP017 | Charles Smith – Seed Investor Turns Into $32.6M For “Boxed” Startup
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Episode Summary
Charles Smith is an New York-based angel investor and was named top 25 investors in the NY area to know. He has been an active investor since the mid-1990s and has a wealth of knowledge to share on today’s show. He talks on why he believes Style Lend is changing the world for the better, why he loves the startup company Boxed, and why you should network with entrepreneurs who have already pitched the angel investor you’re interested in.
Key Takeaways
- 01:50 – What is Social Starts?
- 06:20 – Technological skill is what enables you to beat the competition.
- 09:20 – Charles talks about Style Lend and how they are changing the world.
- 13:40 – Charles loves the startup company Boxed.
- 17:50 – Why did Charles want to be an investor?
- 20:05 – Network with entrepreneurs who have already pitched the same investor you’re interested in.
- 23:10 – There are no new ideas, so why are you the person to do this?
- 26:30 – Charles believes merchandising will charge dramatically in the upcoming years.
- 28:30 – Entrepreneurs should start reading Neal Stephenson’s books.
- 30:25 – Don’t dread the pitching process, see it as a way to learn from smart people who have been there before.
Tweetables
[Tweet “The internet has enabled trust over distance at scale for the first time in human history.”]
[Tweet “The coach of the Eagles says, ‘Culture beats scheme.”]
[Tweet “You don’t have to be as big as Google, obviously, to treat people well.”]
[Tweet “How do you handle “trough of sorrow?””]
Links Mentioned
Charles Smith Twitter
Social Starts
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TSP015 | John Allen – The Anatomy of Securing Investments for Market-place Innovator
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Episode Summary
John Allen is the founder of iBlaise Consulting and is also an innovator in the bio-tech industry. In 1996, John worked for Agouron Pharmaceuticals. Their work was instrumental in targeting HIV enzymes and Agouron was later acquired by Warner-Lambert for $2.3 billion dollars. John talks on the five core values of iBlaise, how to pair the correct C executives with an entrepreneur’s personality type, and much more.
Key Takeaways
- 04:50 – Why was Warner-Lambert interested in Agouron?
- 08:40 – A compelling vision and getting investors to fund you requires two different stories.
- 10:00 – Entrepreneurs are full of possibilities. Investors are full of probabilities.
- 11:25 – Having empathy towards what the investor is looking for is critical.
- 14:00 – John Allen incubated Open Finance Network and talks about what they do.
- 20:20 – John talks on his company’s values. Investors look for values in entrepreneurs.
- 22:30 – Investors are always looking for red flags.
- 25:20 – Investors want to talk to early adopters of your product or service.
- 28:20 – If there’s friction in the team, then that’s a risk to investors.
- 33:55 – Feel free to email John Allen if you’re interested in getting funded.
Tweetables
[Tweet “If you’re selling dog food, investors want to see the dogs eating it”]
[Tweet “Two types of entrepreneurs, visionary and market place innovators”]
[Tweet “Teamwork requires security, identity, knowledge and sensation”]
[Tweet “3 must haves for investors: Your secret sauce, team and market place potential”]
[Tweet “Suspend reality so you have vision over visibility”]
[Tweet “Investors do not want to invest in your dream, they want to invest in a rate of return for their money.”]
Links Mentioned
The History of the Decline and Fall of the Roman Empire by Edward Gibbon
iBlaise Consulting, LLC
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TSP014 | Nellie Akalp – Small Business Influencer Champion
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Episode Summary
Nellie Akalp is a passionate entrepreneur, small business advocate, and mother of four. She was named one of the top 100 Small Businesses Influencers in 2014 and sold one of her companies in 2005 to Intuit for $20 million dollars. Nellie is currently the CEO of CorpNet, an online legal documenting filing service. Nellie provides valuable insight as to what corporation you should get if you’re seeking funding, whether or not you should register your company for trademark, and much, much more on today’s episode.
Key Takeaways
- 02:05 – How did Nellie get started as an entrepreneur?
- 04:30 – You have to love and be passionate in what you do in order to be successful.
- 07:00 – Nellie talks about her company, CorpNet.
- 10:45 – Social media is about helping others, not about promoting yourself.
- 12:30 – What kind of legal work should be done before approaching a VC?
- 19:55 – What’s the difference between trademarks, copyrights, and patents?
- 23:00 – If you have a great name, take the time to get it trademarked.
- 25:50 – At the end of a web development project, make sure you get an assignment of the rights to that code.
- 29:10 – Nellie recommends the book Delivering Happiness by Tony Hsieh.
Tweetables
[Tweet “Creating a legacy and inspiring others is the best way to be successful. #Startups”]
[Tweet “In social media it’s not about being self-promotional, it’s about really being of service to people out there.”]
[Tweet “C corp or LLC for VC funding?”]
Links Mentioned
CorpNet
Nellie Akalp Twitter
Nellie Akalp Instagram
Nellie Akalp LinkedIn
How to Win Friends and Influence People by Dale Carnegie
Delivering Happiness by Tony Hsieh
Want the Transcription?
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