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FounderFuel Pt. 6: Lessons Learned, Wrap-up


started off 12 weeks ago start off with

started off 12 weeks ago start off with with a bang on day two we had the teams

with a bang on day two we had the teams

with a bang on day two we had the teams pitching out their business already

pitching out their business already

pitching out their business already without any kind of training whatsoever

without any kind of training whatsoever

without any kind of training whatsoever just cold turkey around week 45 after

just cold turkey around week 45 after

just cold turkey around week 45 after analyzing their business put a stake in

analyzing their business put a stake in

analyzing their business put a stake in the ground and SAT right this is our new

the ground and SAT right this is our new

the ground and SAT right this is our new direction this is where we’re going and

direction this is where we’re going and

direction this is where we’re going and somewhere around week 9 or 10 this is

somewhere around week 9 or 10 this is

somewhere around week 9 or 10 this is when we kind of pull the CEOs out of the

when we kind of pull the CEOs out of the

when we kind of pull the CEOs out of the equation have them focus one hundred

equation have them focus one hundred

equation have them focus one hundred percent on the pitch and getting ready

percent on the pitch and getting ready

percent on the pitch and getting ready for demo day before I started the

for demo day before I started the

for demo day before I started the program I thought it would be a lot like

program I thought it would be a lot like

program I thought it would be a lot like grad school and a lot of intense classes

grad school and a lot of intense classes

grad school and a lot of intense classes and so on in the program I realized that

and so on in the program I realized that

and so on in the program I realized that it’s a lot like playing risk you kind of

it’s a lot like playing risk you kind of

it’s a lot like playing risk you kind of realized okay what territory am I going

realized okay what territory am I going

realized okay what territory am I going to give up this week what aspect of my

to give up this week what aspect of my

to give up this week what aspect of my business am I not going to focus on so

business am I not going to focus on so

business am I not going to focus on so much in order to make a play that’s

much in order to make a play that’s

much in order to make a play that’s gonna set you up for the big vision

gonna set you up for the big vision

gonna set you up for the big vision without the program our team would have

without the program our team would have

without the program our team would have died I don’t think there’s any chance

died I don’t think there’s any chance

died I don’t think there’s any chance there we would have done anything

there we would have done anything

there we would have done anything without help and without even the small

without help and without even the small

without help and without even the small investment that we got we realize just

investment that we got we realize just

investment that we got we realize just the importance of building something

the importance of building something

the importance of building something simple at first and then iterating from

simple at first and then iterating from

simple at first and then iterating from there I think our team’s learn more how

there I think our team’s learn more how

there I think our team’s learn more how to focus to really pick one thing that

to focus to really pick one thing that

to focus to really pick one thing that we really want to do really really

we really want to do really really

we really want to do really really really well and kind of ignore all the

really well and kind of ignore all the

really well and kind of ignore all the noise around it my team has learned a

noise around it my team has learned a

noise around it my team has learned a lot about how to build a business rather

lot about how to build a business rather

lot about how to build a business rather than build a product the thing has

than build a product the thing has

than build a product the thing has changed the most is definitely our

changed the most is definitely our

changed the most is definitely our company our entire company change we

company our entire company change we

company our entire company change we started a brand new one the thing that’s

started a brand new one the thing that’s

started a brand new one the thing that’s changed the most is our product for sure

changed the most is our product for sure

changed the most is our product for sure a completely different product than what

a completely different product than what

a completely different product than what we came into the program with this

we came into the program with this

we came into the program with this company is is even bigger than we

company is is even bigger than we

company is is even bigger than we thought it could be logically both told

thought it could be logically both told

thought it could be logically both told us because people were really telling us

us because people were really telling us

us because people were really telling us and I think that was the one thing that

and I think that was the one thing that

and I think that was the one thing that they really had to get through her head

they really had to get through her head

they really had to get through her head they said stop worrying about the money

they said stop worrying about the money

they said stop worrying about the money it’ll come to you if you chase the money

it’ll come to you if you chase the money

it’ll come to you if you chase the money you’ll never get if you make something

you’ll never get if you make something

you’ll never get if you make something that’s worth money you’ll get it we’ve

that’s worth money you’ll get it we’ve

that’s worth money you’ll get it we’ve been getting a lot of feedback and does

been getting a lot of feedback and does

been getting a lot of feedback and does a lot of mentors even giving us

a lot of mentors even giving us

a lot of mentors even giving us different direction well they would like

different direction well they would like

different direction well they would like to see down the pub like the business

to see down the pub like the business

to see down the pub like the business movie in the next couple months so it

movie in the next couple months so it

movie in the next couple months so it reads down to filtering out which one

reads down to filtering out which one

reads down to filtering out which one you really want to take a and which one

you really want to take a and which one

you really want to take a and which one you want to just throw alps fiebag d

you want to just throw alps fiebag d

you want to just throw alps fiebag d real that’s quite a few times so we’re

real that’s quite a few times so we’re

real that’s quite a few times so we’re sitting in the boardroom and we were

sitting in the boardroom and we were

sitting in the boardroom and we were like wow we’re not going anywhere and

like wow we’re not going anywhere and

like wow we’re not going anywhere and we’re like maybe we should be selling

we’re like maybe we should be selling

we’re like maybe we should be selling shoes you know see that has

shoes you know see that has

shoes you know see that has helped us in a lot of waste from the

helped us in a lot of waste from the

helped us in a lot of waste from the different mentors and our advisory board

different mentors and our advisory board

different mentors and our advisory board but at the same time we went in the

but at the same time we went in the

but at the same time we went in the valley of death during week to two weeks

valley of death during week to two weeks

valley of death during week to two weeks six and that boy that was not fun

six and that boy that was not fun

six and that boy that was not fun feedback hurt and then a bruiser he goes

feedback hurt and then a bruiser he goes

feedback hurt and then a bruiser he goes a little bit it was pretty tough to take

a little bit it was pretty tough to take

a little bit it was pretty tough to take in for a few weeks in the long term that

in for a few weeks in the long term that

in for a few weeks in the long term that the feedback has definitely helped us

the feedback has definitely helped us

the feedback has definitely helped us because we got to somewhere we wouldn’t

because we got to somewhere we wouldn’t

because we got to somewhere we wouldn’t have gotten to without it I think the

have gotten to without it I think the

have gotten to without it I think the best piece of advice was to get my head

best piece of advice was to get my head

best piece of advice was to get my head out of my ass the teams had benefit most

out of my ass the teams had benefit most

out of my ass the teams had benefit most from a program like this are the teams

from a program like this are the teams

from a program like this are the teams that are coming in here realizing that

that are coming in here realizing that

that are coming in here realizing that they have in front of them a huge

they have in front of them a huge

they have in front of them a huge ecosystem big network of mentors and

ecosystem big network of mentors and

ecosystem big network of mentors and they’re coming here completely

they’re coming here completely

they’re coming here completely open-minded ready to hear really great

open-minded ready to hear really great

open-minded ready to hear really great stuff about their business other stuff

stuff about their business other stuff

stuff about their business other stuff that they’re not going to like to hear

that they’re not going to like to hear

that they’re not going to like to hear but able to take it all in not do as

but able to take it all in not do as

but able to take it all in not do as they are told but really think about the

they are told but really think about the

they are told but really think about the feedback that they’re getting and then

feedback that they’re getting and then

feedback that they’re getting and then make up their mind and execute on that

make up their mind and execute on that

make up their mind and execute on that idea as Ian Geoffrey said in the very

idea as Ian Geoffrey said in the very

idea as Ian Geoffrey said in the very beginning of the program throughout the

beginning of the program throughout the

beginning of the program throughout the program it will hear so many questions

program it will hear so many questions

program it will hear so many questions that by the end of it you will have all

that by the end of it you will have all

that by the end of it you will have all the answers and we are already very well

the answers and we are already very well

the answers and we are already very well prepared for that so founder feel really

prepared for that so founder feel really

prepared for that so founder feel really accelerated the failure of many

accelerated the failure of many

accelerated the failure of many different ideas that we had so we had

different ideas that we had so we had

different ideas that we had so we had time to try them out push them to market

time to try them out push them to market

time to try them out push them to market and quickly pull them when we realized

and quickly pull them when we realized

and quickly pull them when we realized they’re not gonna work these things

they’re not gonna work these things

they’re not gonna work these things probably would have taken us six months

probably would have taken us six months

probably would have taken us six months one year to actually get out and play

one year to actually get out and play

one year to actually get out and play with before our team was involved a lot

with before our team was involved a lot

with before our team was involved a lot slower without this program I would have

slower without this program I would have

slower without this program I would have tightness six months to a year realize

tightness six months to a year realize

tightness six months to a year realize what we’ve realized here I think somehow

what we’ve realized here I think somehow

what we’ve realized here I think somehow we would learn all that stuff it just

we would learn all that stuff it just

we would learn all that stuff it just would take us probably 12 months or

would take us probably 12 months or

would take us probably 12 months or maybe more instead of three months it

maybe more instead of three months it

maybe more instead of three months it took us a month and a half to build what

took us a month and a half to build what

took us a month and a half to build what we currently have and even our fastest

we currently have and even our fastest

we currently have and even our fastest competitors it took them six months nine

competitors it took them six months nine

competitors it took them six months nine months a year even to build what we were

months a year even to build what we were

months a year even to build what we were able to build in just a month and a half

able to build in just a month and a half

able to build in just a month and a half just to realize that you can change so

just to realize that you can change so

just to realize that you can change so quickly and have this really great

quickly and have this really great

quickly and have this really great vision still that that something you’re

vision still that that something you’re

vision still that that something you’re going to change the world and you’re

going to change the world and you’re

going to change the world and you’re going to do something really great and

going to do something really great and

going to do something really great and be able to do that in three months is

be able to do that in three months is

be able to do that in three months is amazing and program is great for that we

amazing and program is great for that we

amazing and program is great for that we are naturally predisposed for

are naturally predisposed for

are naturally predisposed for homeostasis you know people say the same

homeostasis you know people say the same

homeostasis you know people say the same just a comfort while the rest of the

just a comfort while the rest of the

just a comfort while the rest of the world changes around them survive but

world changes around them survive but

world changes around them survive but you could survive or you could evolve

you could survive or you could evolve

you could survive or you could evolve I think that’s the big one you have to

I think that’s the big one you have to

I think that’s the big one you have to evolve and evolving hurts the way we’ve

evolve and evolving hurts the way we’ve

evolve and evolving hurts the way we’ve maintained our pace after the program in

maintained our pace after the program in

maintained our pace after the program in it well that’s interesting actually I

it well that’s interesting actually I

it well that’s interesting actually I think we had to work even harder you

think we had to work even harder you

think we had to work even harder you know we raised our round we built out a

know we raised our round we built out a

know we raised our round we built out a big team we’re moving faster than ever

big team we’re moving faster than ever

big team we’re moving faster than ever so my number one piece of advice for

so my number one piece of advice for

so my number one piece of advice for groups coming out a founder fuel he’s

groups coming out a founder fuel he’s

groups coming out a founder fuel he’s just really worked faster and the way to

just really worked faster and the way to

just really worked faster and the way to do that is to really just be aware of

do that is to really just be aware of

do that is to really just be aware of what it is that you need to accomplish

what it is that you need to accomplish

what it is that you need to accomplish once fond of fuel finishes and you know

once fond of fuel finishes and you know

once fond of fuel finishes and you know that’s way too you’re on your own the

that’s way too you’re on your own the

that’s way too you’re on your own the program prepared you to be able to deal

program prepared you to be able to deal

program prepared you to be able to deal with that reality and unit to be able to

with that reality and unit to be able to

with that reality and unit to be able to deal with the fact that you have to

deal with the fact that you have to

deal with the fact that you have to scale if you’ve been invested then you

scale if you’ve been invested then you

scale if you’ve been invested then you have certain goals that you have to

have certain goals that you have to

have certain goals that you have to reach so make sure you focus on that and

reach so make sure you focus on that and

reach so make sure you focus on that and avoid a lot of distractions like a lot

avoid a lot of distractions like a lot

avoid a lot of distractions like a lot of time companies were like oh here’s

of time companies were like oh here’s

of time companies were like oh here’s another great idea here’s another great

another great idea here’s another great

another great idea here’s another great idea but it comes down to what you can

idea but it comes down to what you can

idea but it comes down to what you can focus on and be the best that you can be

focus on and be the best that you can be

focus on and be the best that you can be Latonia and also consider hub from

Latonia and also consider hub from

Latonia and also consider hub from developer enjoyment of his interval I’m

developer enjoyment of his interval I’m

developer enjoyment of his interval I’m the continuing I got a sack resume

the continuing I got a sack resume

the continuing I got a sack resume manship alkyd the fonda fuel it’ll get a

manship alkyd the fonda fuel it’ll get a

manship alkyd the fonda fuel it’ll get a table Lucien are small they keep

table Lucien are small they keep

table Lucien are small they keep shoppers curly do classy peau de Loup de

shoppers curly do classy peau de Loup de

shoppers curly do classy peau de Loup de Mer one solution or small effort to show

Mer one solution or small effort to show

Mer one solution or small effort to show a rather large o povo Aquitania a la

a rather large o povo Aquitania a la

a rather large o povo Aquitania a la compania development ello numero dos

compania development ello numero dos

compania development ello numero dos adult with a naked cake lettuce ave SE

adult with a naked cake lettuce ave SE

adult with a naked cake lettuce ave SE acuerda adios ho chi minh nebo eh hawaii

acuerda adios ho chi minh nebo eh hawaii

acuerda adios ho chi minh nebo eh hawaii a clutch master say the DJ paulo present

a clutch master say the DJ paulo present

a clutch master say the DJ paulo present dr. Lujan desi khana Harry cervix vibes

dr. Lujan desi khana Harry cervix vibes

dr. Lujan desi khana Harry cervix vibes issues earlier segment on diode Dooley

issues earlier segment on diode Dooley

issues earlier segment on diode Dooley keeper conahey about Odin very early in

keeper conahey about Odin very early in

keeper conahey about Odin very early in the program we thought we had some

the program we thought we had some

the program we thought we had some really strong teams and we still

really strong teams and we still

really strong teams and we still convinced we have some very strong teams

convinced we have some very strong teams

convinced we have some very strong teams definitely I think we’ve made an impact

definitely I think we’ve made an impact

definitely I think we’ve made an impact and the quality of the applications for

and the quality of the applications for

and the quality of the applications for this second cohort have been much

this second cohort have been much

this second cohort have been much stronger and anticipate that to continue

stronger and anticipate that to continue

stronger and anticipate that to continue as as time goes on so that’s great for

as as time goes on so that’s great for

as as time goes on so that’s great for the program it also means that it’s more

the program it also means that it’s more

the program it also means that it’s more difficult to get in but that’s part of

difficult to get in but that’s part of

difficult to get in but that’s part of what we’re trying to do right we want to

what we’re trying to do right we want to

what we’re trying to do right we want to raise the bar with it record and I think

raise the bar with it record and I think

raise the bar with it record and I think we’re definitely doing that

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