Sam Simpson Part 2 - Founder & CEO of FounderCatalyst

In Part Two of my conversation with Perdie and M from Hotbed we delve into the intricacies of the startup ecosystem, emphasizing the need for more in-depth discussions about entrepreneurship. We explore the challenges founders face, including the overwhelming amount of conflicting advice, the importance of authenticity, and the dynamics of investor relationships. The conversation also addresses mental health issues within the startup community, the impact of social media on founders, and the often-overlooked basics of starting a business. The episode wraps up with insights into the future of Hotbed and the importance of community support in the entrepreneurial journey. Takeaways -Founders need transparency in the investment process. -Investors often provide vague feedback, which is unhelpful for founders. -Authenticity is crucial in entrepreneurship; being a people pleaser is detrimental. -Mental health should be viewed as a health issue, not a personality flaw. -Social media platforms like LinkedIn can create pressure for validation. -The basics of starting a business are often overlooked in discussions. -Founders should focus on their unique journey rather than conforming to trends. -It's important to accept emotions as part of the human experience. -Conflicting advice can overwhelm founders; balance is key. -Hotbed aims to support founders through community and resources. Chapters 00:00 - The Need for Granular Conversations in Startups 03:14 - Navigating the Overwhelm of Startup Advice 06:12 - The Importance of Authenticity in Entrepreneurship 09:06 - Understanding Investor Dynamics 11:51 - The Future of Hotbed and Its Product 14:56 - Mental Health in the Startup Ecosystem 18:49 - The Impact of Social Media on Founders 22:06 - The Basics of Starting a Business 24:54 - Closing Thoughts and Future Directions Follow M on LinkedIn here: https://www.linkedin.com/in/margaretannecoyle/ Follow Perdie on LinkedIn here: https://www.linkedin.com/in/perdiealder/ Checkout Hotbed here: https://www.hotbed.co/ Want a 1-hour free advisory session with me, Greg McCallum? 👇👇👇👇👇👇👇 https://meetings-eu1.hubspot.com/meetings/gmccallum?uuid=c7ed45d8-c8fe-4b6a-9eda-d062fd02c9ad

In this conversation, the founders of Hotbed, M and Perdie, share their unique entrepreneurial journeys and discuss the evolution of Hotbed from its early roots at Tech Hub to becoming a virtual accelerator designed to support founders globally. They explore the challenges and opportunities they faced during the pandemic, the development of Hotbed’s revenue model, and the importance of community building in virtual settings. The conversation also dives into their personal backgrounds, the excitement of bringing ideas to life, and how generational differences shape attitudes towards career and risk. Hospitality and attention to detail play a crucial role in their approach to creating memorable experiences for startups. Takeaways -M and Perdie met at Tech Hub, which was pivotal for their careers. -Spice Startups evolved into Hotbed, focusing on virtual accelerator programs. -Hotbed supports founders globally, offering free resources and investor connections. -The revenue model relies on partnerships with companies targeting startups. -The pandemic prompted the creation of Hotbed as they faced job uncertainty. -Talent is globally distributed, but investment opportunities are not. -The excitement of entrepreneurship lies in bringing ideas to life. -Hotbed aims to support startups in navigating their growth challenges. -Community can be effectively built in virtual settings. -Attention to detail is crucial in creating memorable event experiences. -Generational differences impact attitudes towards career choices and risks. Chapters 00:00 - Introduction to the Founders 03:06 - The Journey to Hotbed 06:07 - Tech Hub Experience 08:54 - The Path to Entrepreneurship 12:01 - Childhood Influences on Entrepreneurship 15:00 - The Birth of Hotbed 18:01 - Navigating Challenges in Startups 22:06 - The Evolution of Spice Startups 25:09 - Understanding Hotbed: A Virtual Accelerator 28:10 - Revenue Models in Startup Support 31:01 - Addressing Global Investment Disparities 34:11 - The Role of Founders Camp 36:52 - Building Community in a Virtual World 40:07 - Creating a Unique Brand Experience 43:03 - The Importance of Detail in Events Follow M on LinkedIn here: https://www.linkedin.com/in/margaretannecoyle/ Follow Perdie on LinkedIn here: https://www.linkedin.com/in/perdiealder/ Checkout Hotbed here: https://www.hotbed.co/ Want a 1-hour free advisory session with me, Greg McCallum? Use the link on my LinkedIn profile.👇👇👇👇👇👇👇 https://meetings-eu1.hubspot.com/meetings/gmccallum?uuid=c7ed45d8-c8fe-4b6a-9eda-d062fd02c9ad

Welcome to Part Two of my conversation with Sam Oliver. Here we discuss the complexities of building software, particularly in the financial sector, and the potential of AI in automating sales processes. He emphasizes the importance of customer engagement and the evolution of conversational AI, while also addressing ethical considerations and the balance between innovation and regulation. Sam shares his personal ambitions and thoughts on the future of his career, highlighting the significance of health and well-being amidst professional pursuits. Takeaways - Building software is inherently complex and challenging. - AI has the potential to revolutionize sales automation. - Customer engagement can be significantly enhanced through AI. - Conversational AI will play a crucial role in future business interactions. - Ethics and governance in AI are becoming increasingly important. - Innovation must be balanced with regulatory considerations. - Personal health and well-being are essential for sustained success. - Networking opportunities are greater in startup hubs like San Francisco. - The future of AI may involve more manipulative technologies. - Investing in startups requires careful consideration and alignment with personal values. Chapters 00:00 - Navigating Complexity in Software Development 02:36 - The Role of AI in Sales Automation 06:01 - Enhancing Customer Engagement with AI 09:47 - The Future of Conversational AI 14:30 - Ethics and Governance in AI 20:19 - The Balance of Innovation and Regulation 27:33 - Personal Ambitions and Future Goals Follow Sam here: https://www.linkedin.com/in/sam0liver/ Check out OpenFi here: https://www.openfi.tech/ Want a 1-hour free advisory session with me, Greg McCallum? Use the link on my LinkedIn profile.👇👇👇👇👇👇👇 https://meetings-eu1.hubspot.com/meetings/gmccallum?uuid=c7ed45d8-c8fe-4b6a-9eda-d062fd02c9ad

In Part One of my conversation with Sam Oliver, he shares his entrepreneurial journey, detailing his experiences from starting his first startup at age 20 to his current venture, OpenFi, which aims to revolutionize the sales development process using AI. He discusses the importance of customer experience, the challenges faced during the acquisition of his previous company, and the legal hurdles that followed. Sam emphasizes the lessons learned throughout his journey, particularly regarding sales strategies, customer fit, and the significance of pre-qualification in the sales process. Takeaways - Sam started his first startup company at age 20. - OpenFi automates the sales development representative role using AI. - Customer experience is significantly improved with AI solutions. - Eden Property serves as Sam's retirement business. - Sam transitioned to tech entrepreneurship due to the rise of social media. - Exiting his previous company was always part of his plan. - Legal challenges can arise unexpectedly during an acquisition. - Possession is nine-tenths of the law in legal disputes. - Revenue growth is crucial for startup success. - Understanding customer needs is essential for effective sales strategies. Chapters 00:00 - Introduction to Sam Oliver 02:54 - The Journey of Entrepreneurship 06:03 - OpenFi: Revolutionizing Sales Development 09:00 - Customer Experience and Technology 12:04 - Eden Property: A Business Overview 14:58 - The Transition to Tech Entrepreneurship 17:58 - The Acquisition Experience 21:57 - Navigating Legal Challenges 26:09 - Lessons Learned from the Acquisition 29:52 - Sales Strategies and Customer Fit 33:01 - The Importance of Pre-Qualification 36:01 - Final Thoughts and Reflections Stay tuned for Part Two! Follow Sam here: https://www.linkedin.com/in/sam0liver/ Check out OpenFi here: https://www.openfi.tech/ Want a 1-hour free advisory session with me, Greg McCallum? Use the link on my LinkedIn profile.👇👇👇👇👇👇👇 https://meetings-eu1.hubspot.com/meetings/gmccallum?uuid=c7ed45d8-c8fe-4b6a-9eda-d062fd02c9ad

Welcome back to Founders Unplugged! I'm your host, Greg McCallum. In this second part of my conversation with Soma Pirityi, co-founder and CEO of ETA Technologies, we explore his remarkable journey from Hungary to the UK and the entrepreneurial experiences that shaped his path. Soma shares the challenges he faced regarding the perception of entrepreneurship in Eastern Europe and his initial struggles after arriving in the UK. He reflects on pivotal moments that led him to the startup world, discussing his various ventures, including Sports Find and Future AI Investment Group. Throughout our conversation, he emphasizes the importance of community, learning from failures, and the support that has been crucial to his success. Episode Highlights: The Entrepreneurial Landscape in Eastern Europe Discovering Startups: A Lightbulb Moment Building Sports Find: Connecting Students and Pubs Merging Education and Investment with Future AI Investment Group Chapters: 00:00 Soma's Journey to the UK 02:53 The Entrepreneurial Landscape in Eastern Europe 06:03 First Steps in the UK: From Student to Entrepreneur 09:05 The Lightbulb Moment: Discovering Startups 11:54 Building Sports Find: Bridging Students and Pubs 14:46 Transitioning from Student to Entrepreneurial Success 18:11 Advice for Aspiring Entrepreneurs 21:06 The Importance of Experience in Entrepreneurship 24:00 Future AI Investment Group: Merging Education and Investment 26:55 Navigating Challenges and Learning from Failure 30:06 Reflecting on the Journey: No Regrets 32:52 The Power of Community in Startups 36:03 Technical Challenges and Support in the Startup Ecosystem 39:04 Looking Ahead: Goals for ETA Technologies Follow Soma here: https://www.linkedin.com/in/soma-benedek-pirityi/ Check out ETA Technologies here: https://www.eta-technologies.com/ Want a 1-hour free advisory session with me, Greg McCallum? Use the link on my LinkedIn profile.👇👇👇👇👇👇👇 https://meetings-eu1.hubspot.com/meetings/gmccallum?uuid=c7ed45d8-c8fe-4b6a-9eda-d062fd02c9ad

Welcome back to Founders Unplugged! I'm your host, Greg McCallum. In this first part of my conversation with Soma Pirityi, co-founder and CEO of ETA Technologies, we dive into the intersection of entrepreneurship and venture capital. Soma shares valuable insights on the importance of team dynamics and psychometric testing for startup success. We discuss how to assess founder alignment and the critical role of communication within teams. Soma highlights the challenges faced during the transition from seed funding to Series A and emphasizes the necessity of resilience and adaptability in the fast-paced startup environment. Episode Highlights: The Impact of Team Dynamics on Startup Success Importance of Psychometric Testing Navigating the Seed to Series A Transition Understanding the Rich vs. King Paradigm in Entrepreneurship Chapters: 00:00 Introduction to ETA Technologies and Soma's Journey 02:57 The Role of Psychometric Testing in Startups 06:11 Impartiality and Team Dynamics in Investment Decisions 08:55 Industry-Specific Assessments and Team Chemistry 12:02 The Importance of Communication in Founding Teams 15:02 Feedback Mechanisms and Continuous Improvement 18:01 The Rich vs. King Paradigm in Entrepreneurship 21:09 Navigating Founder Misalignment and Team Dynamics 23:54 The Fragility of Startups: From Seed to Series A 27:08 The Alchemist: Turning Ideas into Successful Ventures 29:56 The Importance of Resilience and Adaptability Follow Soma here: https://www.linkedin.com/in/soma-benedek-pirityi/ Check out ETA Technologies here: https://www.eta-technologies.com/ Want a 1-hour free advisory session with me, Greg McCallum? Use the link on my LinkedIn profile.👇👇👇👇👇👇👇 https://meetings-eu1.hubspot.com/meetings/gmccallum?uuid=c7ed45d8-c8fe-4b6a-9eda-d062fd02c9ad

Welcome back to Founders Unplugged! I'm your host, Greg McCallum. In this second part of my conversation with Toby Kernon, CEO and founder of Wagonex, we delve deeper into the entrepreneurial journey and the challenges that come with it. Make sure you have watched or listened Part One. Toby shares insights on the importance of having an entrepreneurial partner who understands the highs and lows of startup life. We discuss how his family's entrepreneurial background influenced his own path. The conversation touches on hiring practices, debating the value of degrees versus real-world experience, and the complexities of finding the right co-founder. We explore the decision to initially outsource the engineering team and the eventual transition to building an in-house team, highlighting the impact on efficiency and company culture. Toby opens up about the evolving roles and responsibilities as a founder, the significance of keeping investors informed, and his thoughts on future ventures and angel investing. Episode Highlights: Outsourcing vs In-house Engineering Team Degrees vs Real-World Experience in Hiring Challenges in the Fundraising Landscape The Importance of Keeping Investors Updated Chapters: 00:00 The Importance of an Entrepreneurial Partner 02:49 The Influence of Family Background on Entrepreneurship 05:55 Degrees vs Real-World Experience in Hiring 08:55 Challenges of Finding the Right Co-founder 21:54 Outsourcing vs In-house Engineering Team 29:15 Transitioning to an In-House Team 34:45 Navigating Changing Roles as a Founder 37:43 The Importance of Keeping Investors Updated 44:20 Challenges in the Fundraising Landscape 52:21 Exploring Future Ventures and Angel Investing Follow Toby here: https://www.linkedin.com/in/toby-kernon-b611a853/ Check out Wagonex here: https://www.wagonex.com/car-subscription-software Want a 1 hour free advisory session with our host Greg McCallum? Use the link on his LinkedIn profile.👇👇👇👇👇👇👇 https://www.linkedin.com/in/gregmacuk/

Welcome to Founders Unplugged! I'm your host, Greg McCallum. In Part One of my conversation with Toby Kernon, the CEO and founder of Wagonex, we discuss his entrepreneurial journey in the car subscription industry. Toby shares the challenges he faced in transitioning from trading to startups, the importance of building strong partnerships, and the realities of running a startup. We delve into the complexities of customer acquisition, integrating insurance into a platform, and the significance of resilience and relationships in achieving success. Toby also sheds light on the dangers of following generic startup advice and emphasizes the need for a supportive network. Join us as we explore the future of Wagonex and the strategies that have propelled Toby's success. Takeaways: Events like demo days are invaluable for founders to share their journey and learn from others. Entrepreneurship requires constant pitching and can be both exhausting and lonely. Starting a car subscription platform involves securing key partnerships with manufacturers and insurance companies. Early customer acquisition combines direct outreach with strategic marketing efforts. Integrating insurance pricing into a platform is complex and requires collaboration with insurers. Running a startup demands resilience to handle rejection and weather storms. The startup journey often involves waiting periods, not just rapid movement. Comfort levels in running a startup can be influenced by funding and corporate governance. Building relationships and face-to-face meetings can lead to unexpected opportunities. Be cautious with generic startup advice; it's not a one-size-fits-all solution. Consider profitability and potential exit strategies from the early stages. Partnerships can accelerate growth and help achieve long-term goals. Episode Highlights: The Inspiration Behind Wagonex The Value of Demo Days for Founders The Danger of Generic Startup Advice The Power of Partnerships in Accelerating Growth Chapters: 00:00 Introduction and Meeting at Demo Day 03:01 Toby's Journey from Trading to Startups 09:01 The Inspiration Behind Wagonex 15:13 Early Days and Customer Acquisition 19:00 Securing Partnerships and Competition 22:03 Vehicle Delivery and Insurance Integration 26:07 The Importance of Resilience 28:00 Moving Fast and Breaking Things 30:37 The Role of Luck and Support Network 36:09 Navigating Corporate Governance 39:14 The Danger of Generic Startup Advice 49:00 The Path to Profitability and Exit Strategies 51:05 The Power of Partnerships Follow Toby here: https://www.linkedin.com/in/toby-kernon-b611a853/ Check out Wagonex here: https://www.wagonex.com/car-subscription-software Want a 1 hour free advisory session with our host Greg McCallum? Use the link on his LinkedIn profile.👇👇👇👇👇👇👇 https://www.linkedin.com/in/gregmacuk/

Welcome back to Founders Unplugged! I'm your host, Greg McCallum. In this second part of my conversation with Forbes 30 Under 30 entrepreneur and Breer co-founder and COO, Naman Tekriwal, we dive deeper into the practicalities of building a socially responsible company. Naman explains how Breer partners with bakeries like Maxims—the largest F&B group in Hong Kong—to collect surplus bread and turn it into craft beer. We discuss the challenges of balancing profit with purpose and the importance of entrepreneurship education for future generations. Naman shares his vision for empowering students through financial literacy and fostering an optimistic approach to solving social and environmental issues. Join us as we explore how Breer plans to expand into India, leveraging the country's demographic dividend and growing consumer economy, all while celebrating local flavours and craftsmanship in the brewing industry. Takeaways: Breer obtains surplus bread for free from bakeries by partnering with them and handling the cost of bread disposal. Their collaboration with Maxims has streamlined their supply chain and reduced food waste. Breer is committed to social responsibility, focusing on sustainability, fair wages, and community engagement. Naman believes entrepreneurs can balance profit and purpose to create meaningful change. He advocates for integrating entrepreneurship education into school curriculums to empower students. Addressing social and environmental issues requires optimism and a focus on solutions. India's demographic growth and consumer market offer opportunities for businesses like Breer. Celebrating local flavours can foster patriotism and support for homegrown products. Collaboration and teamwork are essential for solving complex global problems. Episode Highlights: Balancing Profit and Purpose Being a Socially Responsible Company Empowering Students Through Entrepreneurship Education Collaboration: The Key to Solving Complex Problems Chapters: 00:00 The Practicalities of Breer's Supply Chain 03:09 Partnership with Maxims: Streamlining the Supply Chain 05:49 Being a Socially Responsible Company 10:25 Balancing Profit and Purpose 13:41 Entrepreneurship and Creating Meaningful Change 28:43 Providing Entrepreneurial Education to High School Students 34:32 Empowering Students Through Entrepreneurship Education 36:20 Optimism and Action: Addressing Social and Environmental Issues 41:28 India's Demographic Dividend and Growing Consumer Economy 45:36 Celebrating Local Flavors and Craftsmanship in Brewing 53:26 Collaboration: The Key to Solving Complex Problems Follow Naman here: https://www.linkedin.com/in/naman-tekriwal/ Check out Breer here: https://www.breer.com.hk/ Want a 1 hour free advisory session with our host Greg McCallum? Use the link on his LinkedIn profile.👇👇👇👇👇👇👇 https://www.linkedin.com/in/gregmacuk/

Welcome to Founders Unplugged! I'm your host, Greg McCallum. In this two-part conversation, I sit down with Naman Tekriwal, a Forbes 30 Under 30 entrepreneur and the co-founder and COO of Breer. Naman shares his inspiring journey from growing up in a family of entrepreneurs in India to creating a sustainable craft beer company in Hong Kong. At just 13 years old, he founded High School Investors to promote financial literacy among students. Later, he launched Rural Invest, providing investment opportunities for India's rural population. Naman emphasizes the importance of solving big problems and making a positive impact through entrepreneurship. In this episode, we delve into how a chance observation of discarded bread led to the birth of Breer. Despite facing challenges like civil protests and the COVID-19 pandemic, Naman's perseverance turned Breer into a success story, now selling in over 400 bars, bottle shops, and restaurants in Hong Kong. Takeaways: Naman comes from a family deeply rooted in entrepreneurship and was raised with a strong focus on business and finance. He founded High School Investors at 13 to promote financial literacy among students. Later, he started Rural Invest to provide investment opportunities for the rural population in India. He stresses the importance of surrounding yourself with people who can provide honest feedback and keep you grounded. Unexpected opportunities, like noticing discarded bread, can lead to innovative solutions. Perseverance is crucial in overcoming challenges and achieving success. Market research and understanding your customers are vital for any business. Episode Highlights: Investing in Rural India: The Rural Invest Project From a Family of Entrepreneurs: Naman Tekriwal's Journey From Discarded Bread to Craft Beer: The Birth of Breer Overcoming Challenges: Civil Protests and the COVID-19 Pandemic Chapters: 00:00 Introduction and Background 02:05 Entrepreneurship in the Family 04:20 First Company: High School Investors 09:29 Impact of High School Investors 13:27 Entrepreneurial Philosophy 17:45 Building Trust and Overcoming Barriers 20:17 Sales Lessons and Empathy 25:02 Growing Up in a Large Family 30:17 Importance of Deep Relationships 33:14 From Discarded Bread to Craft Beer: The Birth of Breer 41:15 Recognition and Partnerships 45:39 Knowing Your Customer and Market Research 49:23 Maintaining Consistency and Expanding the Breer Model 55:39 Addressing Bread Waste and Creating Demand for Sustainable Products Join us for this insightful conversation that explores Naman's journey, the challenges he overcame, and the lessons he learned along the way. Don't forget to like, share, and subscribe for more inspiring stories from entrepreneurs around the world! Stay tuned for Part 2 of our conversation with Naman in the next episode of Founders Unplugged! Follow Naman here: https://www.linkedin.com/in/naman-tekriwal/ Check out Breer here: https://www.breer.com.hk/ Want a 1 hour free advisory session with our host Greg McCallum? Use the link on his LinkedIn profile.👇👇👇👇👇👇👇 https://www.linkedin.com/in/gregmacuk/