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founderlicious

founderlicious

By: Adam Blake & Max Faingezicht
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Founder stories related to the current topics of the day.Copyright 2024 All rights reserved. Economics Leadership Management & Leadership
Episodes
  • E6: Steve Fredette - The drive, customer obsession, and GTM innovation that built Toast
    Aug 8 2024

    (0:00) Intro

    (5:10) Building a competitor to Facebook while at MIT

    (10:03) Joining Endeca instead of starting a company

    (14:40) Deciding NOT to go to business school to get an MBA

    (16:31) Creating a side hustle with early Apple App Store products

    (22:50) Becoming an entrepreneur inside Endeca and learning the power of vertical focus

    (27:28) Launching Toast as an iPhone app

    (30:18) Finding early product market fit

    (35:07) Execution wins

    (37:50) Disruption and focusing on finding what people want, not just fixing what people dislike

    (42:27) Raising money to innovate on the GTM model

    (46:01) The best business model wins. Understand unit economics

    (54:54) You can test your business idea without a product.

    (1:02:13) Ongoing innovation at Toast

    (1:05:51) Execution and focus

    (1:09:00) Impact of AI at Toast

    (1:14:32) Productivity without burn out

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    1 hr and 20 mins
  • E4: Brendan Schwartz - Building Wistia for 18 years to ~200 employees after buying out investors
    May 3 2024

    (0:00) Intro

    (1:55) Early entrepreneurial influences

    (5:20) Starting Wistia

    (8:11) Shredding business plans and burning thru savings

    (11:02) The portfolio website for artists that didn't pay the bills

    (12:44) The first business customer

    (15:22) Going up against YouTube and Vimeo

    (18:50) The Starbucks barista healthcare backup plan

    (21:00) Raising an angel round

    (24:50) Closing a $12/month deal after a summer of sorrow with no sales

    (27:15) 5 years of work with just 4 people to get to profitability

    (33:59) Growing the business more aggressively while having trouble reinvesting the profits

    (38:54) One of their biggest mistakes building Wistia

    (48:24) Getting 3 offers to buy the business

    (55:55) Raising debt to buy out investors and early employees

    (1:04:50) Switching from options to profit sharing with employees

    (1:12:36) Switching back to options away from profit sharing with employees

    (1:18:30) Wistia today and what's next for Brendan and Wistia

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    1 hr and 25 mins
  • E3: Mike Salguero - Bootstrapping ButcherBox to $600M in ARR while working 4 days/week...
    Apr 5 2024

    (0:00) Intro

    (3:45) Buying CustomMade - relaunching and making every mistake in the book

    (7:09) Raising VC for CustomMade and getting on the VC train

    (11:24) CustomMade failing

    (17:17) Starting ButcherBox as a hobby business while collecting unemployment

    (21:56) The 3 core decisions that led to ButcherBox success

    (28:06) Growth hacking to Go To Market success

    (36:47) Starting 3 businesses at the same time to land on ButcherBox

    (41:30) The psychological state that led to ButcherBox being launched

    (43:43) Spotting trends and getting ahead of the Covid curveball

    (48:10) How to finance inventory

    (55:20) Working 4 days a week and work life balance

    (1:03:57) How to work effectively, vivid visions, annual personal goal setting

    (1:07:39) Mentorship, coaching, enneagram personality test, peer groups, YPO

    (1:15:02) Long term ButcherBox plans

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    1 hr and 25 mins

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