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Startup Ignition Podcast

Startup Ignition Podcast

By: John & Tyler Richards
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 Father and son team John and Tyler Richards — veteran entrepreneurs, venture investors, mentors, and educators — discuss all things entrepreneurship and venture capital.Startup Ignition Academy, Inc. Economics Leadership Management Management & Leadership
Episodes
  • Kurt Workman: Owlet Baby Sock’s $100 Million Journey | Startup, SPAC, FDA, Turn Around

    Kurt Workman: Owlet Baby Sock’s $100 Million Journey | Startup, SPAC, FDA, Turn Around
    Aug 21 2025
    In this episode of the Startup Ignition Podcast, we are joined by Kurt Workman, the co-founder of Owlet. Kurt shares the deeply personal story that inspired the creation of the Owlet Smart Sock, a device that has now been used by 1 in 10 babies born in the US. He takes us through the entire journey, from a $50 student prototype to building a $100 million revenue company. Kurt opens up about the immense challenges faced along the way, including a three-year development cycle, navigating a complex and difficult relationship with the FDA, the rollercoaster of going public via a SPAC, and nearly facing bankruptcy. This is a raw and honest conversation about the steep climb of entrepreneurship, the fight for a mission you believe in, and the lessons learned from the highest highs and the lowest lows.(00:00:00) The personal story that sparked the idea for Owlet(00:02:43) How Owlet is building the world's largest pediatric health platform(00:05:52) The Founder's First Icebreaker: Pitches, prototypes, and disasters(00:10:04) Paying a student $50 for a design that a firm later quoted at $100,000(00:11:40) A manufacturing disaster that almost ended the company early on(00:13:10) The story of hiring Owlet's first key employee(00:17:43) The ownership and passion that sets a founder apart from a "hired gun"(00:20:25) Has Kurt ever had an "I made it" moment?(00:23:32) Owlet's current scale: 100 employees and $100M in annual revenue(00:27:57) How his wife's heart condition and a family tragedy led to Owlet(00:32:17) Assembling the founding team and winning competitions to fund the startup(00:38:30) Why it took three years to get the first product to market(00:42:26) Pivoting the go-to-market strategy after the initial launch failed(00:45:14) Navigating the complex and challenging relationship with the FDA(00:47:06) From 0 to 10% of all babies in the US using Owlet by 2021(00:49:12) Pulling the product off shelves and relaunching after the FDA warning letter(00:52:30) Stepping down as CEO, going public via a SPAC, and being asked to return(00:57:57) The hardest year of Kurt's life and the turnaround that saved the company(00:58:32) Calling a manufacturer they owed $30 million to avoid bankruptcy(01:02:00) Deciding to step down as CEO for the second time(01:05:57) Kurt's top 2 pieces of advice for early-stage entrepreneurs(01:11:29) Why the steepest part of the entrepreneurial climb is the most rewardingLearn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#KurtWorkman#Owlet#Startup#Entrepreneurship#FounderStory#MedTech#Hardware#StartupJourney#CEO#Business#Innovation#FDA#GoingPublic#SPAC#Turnaround#UtahBusiness#VentureCapital#Startups#Leadership#Tech
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    1 hr and 14 mins
  • Don't Make These Mistakes: Founder Regrets, PMF, Fundraising, QSBS, Hiring

    Don't Make These Mistakes: Founder Regrets, PMF, Fundraising, QSBS, Hiring
    Aug 14 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards dedicate the entire show to answering pressing questions from their founder community. They kick things off with a fun "Startup Generational Side-by-Side" game comparing business tools from the 80s/90s to today, before diving into the core questions. The duo offers practical advice and battle-tested insights on a wide range of crucial topics, including the biggest regrets of early-stage founders, identifying product-market fit, balancing customer discovery with building, fundraising strategies, validating demand, and the latest changes to QSBS tax law. They also tackle questions about finding early adopters, creating an unfair advantage, knowing when to pivot, managing burn rate, pricing products, hiring priorities, the challenges of remote teams, and maintaining founder efficiency.(00:00:00) Introduction to the Audience Q&A Episode(00:02:42) Icebreaker: Startup Generational Side-by-Side (80s/90s vs. Today)(00:19:59) What do founders regret most about not doing early in their journey?(00:22:48) What are the clearest signs that you've actually hit product-market fit?(00:25:51) How should I balance customer discovery versus building product?(00:28:50) Should I get significant traction before raising capital?(00:32:24) How do I validate demand before investing too much into my idea?(00:35:05) What are the recent changes to the tax-saving 1202 QSBS?[1][2][3][4][5](00:40:36) What's the best way to find early adopters who will buy?(00:44:36) Everyone talks about an unfair advantage. What if I don't have one?(00:46:49) When do I know when I should pivot versus when I should persevere?(00:50:48) How do I manage burn rate and cash runway effectively with limited funding?(00:54:20) I am seriously struggling with pricing my product. Any tips?(00:57:28) What roles should I be hiring for first?(01:01:42) You guys seem to hate remote teams. Why? And what if it's my only option?(01:07:18) What operational hacks do you have for founder efficiency?Learn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#StartupAdvice#FounderQuestions#ProductMarketFit#LeanStartup#Entrepreneurship#Fundraising#VentureCapital#QSBSTax#StartupStrategy#CustomerDiscovery#EarlyAdopters#PivotVsPersevere#BurnRate#RemoteTeams#FounderLife#StartupIgnition#BusinessGrowth#TechStartups#StartupCommunity#AskMeAnything
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    1 hr and 13 mins
  • Dustin Robins: Following Lean Startup all the way to $30M, Don’t Skip Steps, Scalability

    Dustin Robins: Following Lean Startup all the way to $30M, Don’t Skip Steps, Scalability
    Aug 7 2025
    In this episode of the Startup Ignition Podcast, we sit down with Dustin Robins, the CEO of Corporate Traditions, a company that has scaled to tens of millions of dollars in annual revenue. Dustin shares his incredible journey from being unexpectedly laid off from Adobe to starting a service-based video company, and the pivotal moment at a Startup Ignition boot camp that changed his entire perspective on business. Learn how he applied lean startup principles to transform a "turkey voucher" side-hustle into a scalable, tech-enabled corporate gifting powerhouse. This is a masterclass on validation, not skipping steps, the power of a great co-founder, and building a sellable asset.(00:00:00) How a tsunami in Japan led to Dustin getting laid off(00:02:52) Why Dustin is a master practitioner of the Lean Startup methodology(00:11:07) Dustin's early entrepreneurial ventures and career path(00:15:27) The "perfect" moment: Getting laid off from Adobe to start his first business(00:20:30) The birth of SEO VOD, Dustin's video-for-SEO service company(00:23:46) How the "turkey business" side hustle began(00:26:32) The "paradigm shift" slide that changed Dustin's life and career(00:29:33) Shifting focus from a service business to a scalable venture(00:31:30) Using "Slicing Pie" to bring on a co-founder the right way(00:35:16) How Corporate Traditions validated new product ideas(00:38:08) Fulfilling early orders with a "Paper MVP"(00:40:19) Why you can't skip steps in the lean startup process(00:44:20) Why do so many founders with resources and knowledge still skip steps?(00:47:38) The difference between a successful business and a scalable, life-changing venture(00:51:11) The ultimate "shortcut" for customer validation(00:56:00) Dustin's funniest memory with podcast host John Richards(00:59:34) What's next? Building Corporate Traditions to sell(01:01:03) The story of finding their CTO in an unexpected placeLearn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#LeanStartup#Entrepreneurship#StartupIgnition#Validation#CustomerDiscovery#MVP#Scalability#Bootstrapping#CorporateGifting#FounderStory#BusinessGrowth#StartupAdvice#UtahBusiness#SlicingPie#Pivot#VentureCapital#AngelInvesting#GetOutOfTheBuilding#DustinRobins#CorporateTraditions
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    1 hr and 5 mins
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