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The Intrepid Entrepreneur

The Intrepid Entrepreneur is here to inspire those who are hell-bent on becoming a kick-ass entrepreneur, striving to level-up their business that they’ve started or are gearing up to launch their incredible ideas into successful small businesses! Join Kristin Carpenter-Ogden, founder of LivingUber and Verde Brand Communications, as she interviews inspirational, motivated, and kick-ass small business owners who have made their mark on the outdoor industry.
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Aug 8, 2017

Thank you so much for all your support throughout the years at Intrepid Entrepreneur.

I want to make you aware of my latest project, Channel Mastery. Check it out at: VerdeStrategy.co

And subscribe in iTunes right here.

Thank you, and I will see you over there!

Jan 27, 2017

Show Notes: http://intrepidentrepreneur.net/solocast-2/

Happy 2017 Intrepid Nation!

I’m know we’ve all been slammed over the past few months, what with the holidays and now the rush of starting out new years out right. Some of you probably noticed my absence over the past few weeks. I’ve missed you!

This is a special solocast from me to you, dear audience, to fill you in on the new project that has been keeping me so busy--it’s so exciting! I’m also giving you a sneak peek at the changes coming to Intrepid and the Alliance this year. Get excited for some new programs and some new resources!

Bravery and Business Quote

“We’re in it to build lifestyles, we’re in it to do what we love and to build a tribe around something that we love to share.” -Kristin Carpenter Ogden

(click to tweet)

The Cliff Notes

  • Find out what exciting new project has been keeping me so busy this quarter, and why I’m so pumped about it.
  • Heads up for some exciting changes coming to the Intrepid Entrepreneur Podcast next month!
  • How to make sure you’re on the waitlist for the Intrepid Alliance
  • New opportunities for members of the Alliance, and some special offers for those of you still waiting.
  • I want your feedback and requests for the new year!  Let me know what you’d like to hear about. Send your ideas to: Questions@IntrepidEntreprenur.net

“Serving you through this podcast, through Intrepid Entrepreneur & through the Alliance is my favorite thing to do” -Kristin Carpenter Ogden

(click to tweet)

 

Jan 27, 2017

Show Notes: http://intrepidentrepreneur.net/patrick-mcginnis/

How many people are able to quit their day jobs and jump right into a successful entrepreneurial career? Hardly anyone that I know has been so lucky. No matter how passionate you are about your work, it takes time to build a business.

Patrick McGinnis is an entrepreneur with a background on Wall Street, venture capital, private equity, and the author of “The 10% Entrepreneur”. We’re digging into what it means to be an entrepreneur with a day job.

Patrick’s explaining what makes someone a 10% Entrepreneur, and how continuing in your current job can profit everyone. We’re getting into the benefits of hands-on experience, diversifying your skill set, and developing entrepreneurial muscle, in just 10% of your time. Patrick knows what it is to work for your money, and how important it is to insulate your income.

This is an amazing episode for those of you working multiple jobs, and everyone interested in getting started on something new this year.

Bravery and Business Quote

“I decided I was no longer going to do things where I put all of my trust into somebody else.” Patrick McGinnis

(click to tweet)

The Cliff Notes

  • Don’t quit your day job! Start something new and get involved with entrepreneurship with 10% of your time.
  • Diversify your skills by trying different kinds of ventures and business ideas. The more you do, the more you learn.
  • A 10% entrepreneur wants to create a diverse portfolio of living, breathing businesses that function on their own.
  • Developing more skills and entrepreneurial muscle will benefit you in and the company you work for during the day.
  • You don’t have to have money to be a successful entrepreneur. Start small and grow as your business demands.
  • No job is really 100% safe. Things happen, so diversify your skills set and income so you’ll always have something to fall back on.
  • Don’t fall for entrepreneur FOMO! Starting a business is not as glamorous or exciting as it seems. It’s a lot of hard work with slow payoff.
  • Be empowered, not overwhelmed, to take the first step. Spend 10% of your time developing your concept, or getting involved with another new business.
  • You can only learn so much by reading and taking courses. Get out there and start trying things.
  • Working on the side will give you proof of concept for your business before you go all in or try to get investors.

“Most entrepreneurs don’t jump right into things. They develop on the side until they get proof of concept.” - Patrick McGinnis

(click to tweet)

 

Resources

About Patrick McGinnis

Patrick's book The 10% Entrepreneur: Live Your Startup Dream Without Quitting Your Day Job

Patrick's SPEECH at Google

Dec 23, 2016

Show Notes: IntrepidEntrepreneur.net/The-Right-Audience-Johannes-Ariens

How much have you accomplished this year? Maybe 2016 has been a big year for you and your company-I know it has been full of surprises for me.  

My guest on this episode is Johannes Ariens, and he’s here for the second time this year to talk about the second project he’s successfully launched in 2016.

Johannes is sharing how his new project LOGE met its Kickstarter goal in the first week, and what this means for how they’re moving forward. We’re talking about setting stretch goals and how to work towards them progressively.

Johannes is also discussing how he’s using multiple channels to drive people to their campaign, and what these channels all bring to the perception of your brand. We’re digging into communicating with the right people, not the most people, and giving those people an authentic, inside look at your work.

I hope you enjoy this episode – It’s part training, part inspiration and 100% entertaining!

Bravery and Business Quote

“If you push, something’s got to happen. No matter what, you’re going to learn from that.” Johannes Ariens

(click to tweet)

The Cliff Notes

  • Think about entry-level consumers. How can you make your business or community more accessible to people who might be interested, but inexperienced?
  • Don’t be afraid of being uncomfortable. If you’re comfortable, you’re probably not challenging yourself enough.
  • Push really hard. Either way, something is going to happen and you’re going to learn from the experience.
  • Acknowledge what you’re bad at. Work on improving those skills and know how to delegate and take advice from experienced experts.
  • Active and engaged followers are much more valuable than many, uninvolved followers. Quality means more than quantity.
  • You don’t need a global audience to be effective, you just need to be dialed in to who your audience is and how to connect with them.
  • Figure out what people perceive your intent to be. Know what clients think that you support and work to bring that perception in line with your vision.
  • Know your numbers. How many people do you need to invest in your project? How many purchases? Views? What, specifically, do you need to succeed?
  • Set different kinds of goals. Have immediate goals and then set stretch goals to aim for next. Know where you’re heading now and where you’re heading next.
  • Make time to talk to people beyond social media. Don’t just share what you’re doing online, but talk to people that you know and network in person.

“If it’s uncomfortable, then you’re probably doing the right thing” Johannes Ariens

(click to tweet)

 

Resources

Twitter: @JohannesAriens

Kickstarter for LOGE Camp

LOGE

Radify

 

Show Notes: IntrepidEntrepreneur.net/The-Right-Audience-Johannes-Ariens/

Dec 16, 2016

Show Notes: www.IntrepidEntrepreneur.net/Ron-Andrews/

How many of you are working in a small town? Maybe some of you, like me, sometimes work out of your house and love it. Well this episode is for you!

I’m sitting down with Ron Andrews of King Cage. Ron runs this highly successful company from his home right here in Durango, and he’s sharing is secrets to small-town success.

We’re getting into keeping with your founder’s vision, knowing how big you want, or don’t want, to your company to be, and keeping your business organized in your house.  Ron’s also talking about how he got the idea for King Cage, and where his product line has expanded from his original product.

For all of you trying to hustle outside the big city, this episode is full of advice from someone who’s living the passion-driven entrepreneur’s dream!

Bravery and Business Quote

“Quality and consistency is what you’ve really got to stick with.” Ron Andrews 

(click to tweet)

 

The Cliff Notes

  • Living near people who are experts in their field is a great asset to you, no matter where you live.
  • Having customers who are excited about your product brings more enthusiasm and energy to your work and company psyche.
  • Don’t feel unable to leave your current job. Find a way to support yourself doing what you love.
  • Look for trade shows in your industry to expand your reach and customer base.  
  • Specialize your products. Once you have a product that sells well, look for ways to improve and personalize it to your niche.
  • Add value to your product. What can you do to help your clients even more than you already are?
  • Advertise at a rate that you can sustain your business. Don’t look for orders so big you won’t be able to fulfill them.
  • Keep your company the size you want it. Don’t feel pressured to expand or grow in ways that aren’t consistent with your founder’s vision.

“It’s easy to connect with a person because it is so intimate here and close.” Ron Andrews

(click to tweet)

 

Resources

 

King Cage

Interbike Expo

 

Show Notes: www.IntrepidEntrepreneur.net/Ron-Andrews/

 

Dec 3, 2016

Show Notes: www.IntrepidEntrepreneur.net/Sonya-Looney/

So much has changed in how we market and sell products over the past few years.  It’s not just about using social media, but about understanding what customers want from the brands they support.

I’m sitting down with Sonya Looney, World Champion Cyclist, writer, speaker, and adventure seeker. We’re talking about how she has re-designed and re-written the relationship between athletes and sponsoring companies.

 Sonya’s sharing how she got into cycling, and how that passion led her to leave her career twice to become an entrepreneur. We’re getting into what companies should look for in the athletes they sponsor, and how athletes can market themselves better. It’s not just about results!

 This is a great episode for anyone looking to build their brand, or maybe even sponsor an athlete.

Bravery and Business Quote

“If you do the things that you love and put everything into it, it’s going to grow in ways that you never could have imagined”  Sonya Looney

(click to tweet)

 

The Cliff Notes

  • Acknowledge what makes you excited. Sonya was working for a start-up and realized she loved the marketing side of things more than her job as an engineer.
  • Protect your priorities. If a job or hobby is getting in the way of what you’re passionate about, find a way to rearrange.
  • Don’t be afraid to pivot in your career. Just because you’ve spent years growing in it, or getting a degree doesn’t mean you should stay if you’re not happy.
  • Look for partners that have the same passion and following/ clients as you. What brands are attracting the same kind of community that you want to be a part of?
  • Pay attention to what makes other people good at their jobs. Even people in other markets, what makes them so effective? Pull those things into your practice.
  • Focus on two way communication. Respond to people who engage with you on social media, and keep track of what they’re enjoying.
  • Do what you love and believe in. If you’re working hard towards what you’re passionate about, people will take notice and stay connected.
  • Worry less about an athlete’s racing results than about what they can bring to your product. What can this athlete’s personality and following bring to your company?

“It’s not just about putting content out there, it’s about responding to every person that you can that’s engaging with you”  Sonya Looney“

(click to tweet)

 

Resources

 

Sonya Looney’s Website

Sonya Looney on TED Talk

 

Show Notes: www.IntrepidEntrepreneur.net/Sonya-Looney/

 

Nov 25, 2016

Show Notes: www.IntrepidEntrepreneur.net/Brent-Reinke/

Who do you go to for business advice? Outside of the people in your life who support you emotionally, who do you rely on for experienced advice about where your company is going?

I’m sitting down with Brent Reinke, co-founder of Vapur and attorney and advisor to entrepreneurs for over 25 years, and we’re talking about the importance of having an advisory board. It’s all for the benefit of your company!

Brent’s getting into how to look for advisors and setting up clear expectations. He’s also sharing how having the right advisors can save you from making mistakes, and make you look better to investors, even when you’re just starting out.

Even if you don’t think your business is right for a formal advisory council, this is an amazing episode about getting advice and the importance of having a strong network to keep your business healthy.

Bravery and Business Quote

“Finding advisors comes down to finding people that have a high-degree of passion because they've done it.”  Brent Reinke

(click to tweet)

The Cliff Notes

  • Advisory board members can help new entrepreneurs to avoid mistakes and navigate pitfalls as they get started and develop.
  • You can have a formal or an informal group of advisors, depending on the needs of your company and how much of a network of support you already have.
  • Advisory boards and members may change as your company evolves and starts looking towards new goals.
  • Most early stage companies don’t need a formal set of advisors. They need to have people around and available, but this doesn’t need to be a traditional board format.
  • How you compensate advisors depends on what stage your company is at, what kind of financing it has and what requirements there are of the advisors.
  • Who you ask to be an advisor is very industry specific. Do some networking to find people in your field who have experience, and then look to industry professionals, lawyers, accountants, etc. for their expertise.
  • Set expectations with your advisors. How much time will you want them to set aside? When will you meet with them? What kind of advice are they expected to provide? How will they be compensated?
  • It’s not just knowledge and experience that advisors bring to the table, but also their own networks.
  • Leverage your advisors into better financing. You might not have the expertise investors are looking for, but your advisory board might.

“It's critically important as you talk about this idea of board advisors to set proper expectations on both sides.” -Brent Reinke 

(click to tweet)

Show Notes: www.IntrepidEntrepreneur.net/Brent-Reinke/

Nov 18, 2016

Show Notes: IntrepidEntrepreneur.net/Matt-Inglot

Freelancing can be a tough market. Not only do you have to hustle to build up your client base when you get started, but even when you’re established you can worry that every job is your last. It’s an exhausting field if you’re not organized. 

Matt Inglot of Freelance Transformation is here to give us the Dos and Don’ts of getting started as a freelancer, and to talk about expanding your business once you’ve got things going. He’s getting into sticking to your goals, holding on to your vision, and getting recurring revenue.

Matt’s also sharing his advice on the importance of going to events to meet clients, and how you should decide which events to attend. As Matt says, freelancing is all about relationships.

Matt’s offering some great resources from his company, Freelance Transformation. If you’re even considering freelancing, you’ll want to give this a listen.

Bravery and Business Quote

“You have to be very intentional with the type of work you want to be doing. Decide what type of work is going to allow you to meet your goals” - Matt Inglot

(Click to Tweet)

The Cliff Notes

  • Stay intentional with your clients and what type of client you want to work with. Will they help you get closer to your goals?
  • Consider your financial and lifestyle requirements in what clients you accept. Know what your criteria are and be comfortable saying no.
  • Make sure you have your business model figured out as a freelancer before you try to branch into having employees.
  • Look for ways to meet people face to face. Go out and meet with people at events and conferences build connections. Be where your prospective clients will be.
  • Follow up on meetings. It’s easy to get busy and forget to send those emails, but they’re so important to building connections.

3 Things New Freelancers Should Do

  1.      Have clarity around the clients and projects you want to take on
  2.      Collect clients and opportunities that you can keep working for and not just one-time jobs.
  3.   Get out of the house and meet with people face to face.

“In freelancing and agenting, relationships are the number one thing.”  - Matt Inglot

(Click to Tweet)

Resources

Freelance Transformation: FreelanceTransformation.com

Tilted Pixel: TiltedPixel.com

Podcast : FreelanceTransformation.com/blog/podcast

Bonuses for Intrepid Listeners from Freelance Transformation: FreelanceTransformation.com/Intrepid

Double Your Freelancing Conference: DoubleYourFreelancing.com/conf/

Show Notes: IntrepidEntrepreneur.net/Matt-Inglot

Nov 11, 2016

Show Notes: http://intrepidentrepreneur.net/david-kortje

Have you started a business or venture in the past few years, and are not sure where to go next? Maybe you’re trying to expand your appeal to more customers?

In this second Hot Seat Coaching episode, I’m sitting down with David Kortje of Bliss Bouldering and Climbing Complex to answer his questions about marketing, outreach, and what to focus on next.

We’re getting into using loyal customers as ambassadors, partnering with other brands, and trying to share the experience of your work with potential consumers. David and I are also talking about getting statistics on your customers and followers, and learning what obstacles might be keeping more people from getting involved.

For anyone trying to build their consumer appeal and get more people involved in their business, this a great episode full of hands-on advice.

Bravery and Business Quote

“How do we share the authenticity of our story and our passion? How do we tap into the community and get more people to join?” - David Kortje

(click to tweet)

The Cliff Notes

  • Study your followers on Facebook and any other social media. Get data on the ages and interests of the people who pay attention to you and are coming to your events.
  • Facebook live video and other video mediums are a gateway to showing people what you can do. Show your audience what it’s like in your gym or business and the kinds of people involved in your community.
  • Look for events to bring people in and introduce them to your business. Host events like an open house or anniversary party for people to feel invited in to just see how things work.
  • Try to get local coverage. Talk to local news affiliates or reporters to get them to come to your space and film, do a feature article or special event coverage.
  • Use loyal customers as ambassadors to recruit people. They can invite friends, or talk about how much involvement has changed their lives to bring people in.
  • Set goals for membership, sales, and outreach, a specific outreach plans so that you have something to work and plan towards.
  • Retail is changing. Look for ways to bring the experience of your business to other people, either through mobile events or outside events. Go to potential customers who might not come to you.
  • Think about other brands and companies your clients might be using to co-market with. What brands might share clients with you and be interested in hosting an event or marketing campaign with you?

“We’re trying to put a narrative around climbing so that people can will understand the community and the soul around it.”  -David Kortje

 (click to tweet)

Resources

Climb Bliss ClimbBliss.com

Blog: ClimbBliss.com/Blog

Hey Press media contacts : Hey.Press

Show Notes: http://intrepidentrepreneur.net/david-kortje

Nov 4, 2016

Listen at: Intrepidentrepreneur.net/saying-no

How often have you quit something, only to come back to it? When you’re driven by passion for an idea, it keeps coming back until you get it right.

Olympic gold medalist Kristin Armstrong is sharing why she retired twice from the sport, and how she came back each time to win again. We’re getting into making goals, prioritizing your time, and creating your own solutions to the changes life throws at you.

Kristin’s also sharing how she and her husband got the idea for their startup K-Edge, and where the company is heading next. They’re listening to their customers!

This is such a great episode about mental toughness, creative solutions, and learning to say “No.” You won’t want to miss it!

Bravery in Business Quote

“There are things you have to decide that are essential and things you have to remove from your life” - Kristin Armstrong

(click to tweet)

Cliff Notes:

 

  • Kristin Armstrong is a three time Olympic gold medalist in cycling in 2008, 2012, 2016.  She has retired from cycling twice and both times was brought back by her love of cycling.
  • It takes mental toughness to succeed. Iron will is required to set your sights on a goal and then make it through all the little steps to get yourself there.
  • When something isn’t working, adapt. Life circumstances change, so you need to be willing to adjust your plan to your current situation in order for it to success.
  • Don’t be afraid to remove things from your life. You can’t do everything, so decide which things are the most important to you and prioritize.
  • Don’t let in the outside noise. Focus on the task in front of you and don’t feel the need to explain yourself to your critics.
  • Create your own solutions to problems. Kristin and her husband designed a chain catcher to prevent her from losing the chain on her bike during competitions.
  • Listen to your customers and know where the market is heading. K-Edge has expanded to provide solutions to other issues that cyclists have, some in response to questions and ideas from customers.
 

“The most important thing is you have to enjoy your journey” - Kristin Armstrong

(click to tweet)

Resources:

K-Edge.com

KristinArmstrongUSA.com

Listen at: Intrepidentrepreneur.net/saying-no

Oct 28, 2016

Listen at:  Intrepidentrepreneur.net/nathan-rose

What’s the difference between crowdfunding and equity crowdfunding? And how do you know which one, if either, is right for your company?

I’m sitting down with Nathan Rose of Assemble Advisory, an equity crowdfunding agency, to get his inside scoop on what makes it worth using equity to access capital. Nathan’s talking about researching platforms, getting to know your customers, and deciding how to spend your time. You can’t do everything!

We’re also getting into the difference between equity investors and mass crowdfunding, and what you can expect from both groups. Nathan’s offering a few sneak-peeks into what he has to say about these different techniques in his new book, Equity Crowdfunding.  

Equity crowdfunding is changing, it’s not just for brand new startups anymore. Whether you’re just getting started or looking to expand, Nathan’s full of expert advice on how to approach this new opportunity.

Bravery in Business Quote

“Equity crowdfunding allows you to raise much more money than a Kickstarter campaign” - Nathan Rose

(click to tweet)

 

Cliff Notes:

  • Equity crowdfunding campaigns should be run differently than crowdfunding campaigns. The marketing plans are very different because you’re looking for different kinds of investors.
  • Shareholders in equity crowdfunding will be around for the long term.  They should expect to not make money for a while, until the company sells or becomes large enough that other people are willing to buy
  • Investors in equity crowdfunding are often more experienced. They know what to expect and the risks involved.
  • Equity crowdfunding used to just be for startups, but now it’s starting to be used by existing companies looking to expand and branch out.
  • Stay in touch with your investors, even when you don’t have big news. Shareholders should be given regular updates on how your company is doing, not just when you’re raising money.
  • Crowd funding is public in a way that asking for money from the bank isn’t. Even if your campaign isn’t successful, it gains positive media attention and helps your business to get organized and self-evaluate.
  • Larger companies used to pay lots of money for information on their clients and potential customers. Crowdfunding allows you direct access and feedback from your clients.
  • Spend your time in proportion to the money. One investor with a lot of assets is worth going out to meet and talk with, sometimes more than a lot of small social media interactions.
  • Before you start any crowdfunding, make sure that you’ve validated your product and have guaranteed that there is market interest in your company.
  • Do your research before choosing a platform. Make sure you know the audience and policies of each platform.
 

“It’s important to communicate with investors even when you don’t have big news to say” - Nathan Rose

(click to tweet)

Resources:

AssembleAdvisory.com

Book:

Amazon.com/Equity-Crowdfunding-Complete-Startups-Companies

 

Listen at:  Intrepidentrepreneur.net/nathan-rose

 
Oct 21, 2016

Show Notes: IntrepidEntrepreneur.net/Sarah-Carpenter

We talk a lot about bootstrapping and starting up a brand-new business on this podcast. But this week I’m getting input about a different kind of entrepreneurial challenge: taking over a legacy brand.

Sarah Carpenter is sharing what made her and her partners decide to buy the American Avalanche Institute, and how they’ve been working to refine and expand the idea of its founder. It’s all about passion and commitment to a greater, shared vision.

We’re getting into the benefits and challenges of having business partners, working on a team, and the importance planning ahead. Sarah’s also talking about the value of community in the outdoor markets, and taking advantage of her resources.

This is such an insightful episode not just for those of you taking over an older business, but for anyone working in a community.  

Bravery in Business Quote

“The approach that has helped me is just a willingness to learn, a willingness to take in information and adapt to new ideas, new approaches.” - Sarah Carpenter

(click to tweet)

The Cliff Notes

  • Before you start a new venture, ask yourself “Am I able and excited to carry on this project?”
  • Think of your business partners as a sort of second marriage. You’re committed to them and to a bigger project, so you work hard to communicate clearly and respectfully.  
  • Look for the big picture. Don’t just hire people who share your vision, but look for people that are also industry professionals and bring their own skill sets to the table.
  • Have a plan and a conversation about it with your team before you walk out the door or start a new project. Don’t plan to make decisions along the way.
  • Always be willing to learn and take in new information and ideas.  You can be strong-willed and opinionated, but don’t block out the input of other people.
  • Be a resource for your customers in as many mediums as possible.
  • Respect the value of the community you work in, and take advantage of the resources and expertise of others in your field.

 

“But I think the beauty of our industry is not only are we passionate, but we also come from this place of wanting to do good.” - Sarah Carpenter

(click to tweet)

Resources:

americanavalancheinstitute.com

avalanche.institute@gmail.com

avalanche.org

Facebook: American Avalanche Institute, https://www.facebook.com/americanavalancheinstitute/

Twitter, Instagram, and Snapchat : @avyinstitute

Show Notes: IntrepidEntrepreneur.net/Sarah-Carpenter

Oct 14, 2016

We’ve all heard people talk about “hustle”, the drive that keeps you going even when you’re having to do the nitty gritty work that doesn’t thrill you. It’s an important part of any entrepreneur’s toolbox.

My guest this week has a serious amount of hustle and an equal amount of passion for what he’s doing. Neil Patel is the co-founder of marketing software programs including KISSmetrics and Crazy Egg, as well as the co-author of a new book, Hustle: The Power to Charge Your Life with Money, Meaning, and Momentum.

Neil’s talking with me about one of the biggest questions we all face: what exactly is my passion? He’s giving me some tips on how to find the things that you’re actually excited about and let go of the things you only think you’re excited about.

We’re also digging into working backwards to achieve your goals, what to do with feedback and criticism, and focusing on quality content to drive up traffic.

Neil is a highly successful entrepreneur as well as a marketing genius, I’m thrilled he’s here to share his expert knowledge--you’ll want to take advantage of his advice.

 

Bravery in Business Quote

“You're going to make mistakes as an entrepreneur. But if you can avoid making those same mistakes over and over again, you'll increase your chance at succeeding.” - Neil Patel

(click to tweet)

 

Cliff Notes

  • The internet is becoming more personalized. Now, it knows your location what you and your friends like and tries to show you information based on that. Neil thinks it’s going to become even more extreme in the future and make faster connections in terms of marketing.
  • Co-market with people who already have a good audience for your product. Look for people with established followings that would also be interested in your work, and joint venture with them on a project.
  • It can feel like the middle class is disappearing and like there is no way to success if you weren’t born wealthy, but this isn’t true. People need to start looking for nontraditional ways to the top, since the traditional methods are no longer working.
  • Work backwards. Think of your goal, and then write down what you need to do to get to that goal. Then, just try to spend 10 minutes on one of the steps. After 10 minutes, evaluate if what you’re doing is helping you get closer to the goal or not.
  • You’re going to make a lot of mistakes as an entrepreneur. When you realize you’ve made a mistake, sit down and think about why it happened. Learn from what you did so that you don’t make the same mistake over again.
  • When people tell you know, or criticize you after a failure, choose to listen to their feedback. You don’t have to follow their advice or internalize the criticisms, but listen to it and evaluate it as you keep pushing forward.
  • If you’re not passionate about what you’re doing, don’t do it. Only do things that you’re really passionate about right now, because once you lose the spark, it’s really hard to reignite it.
  • Try different things. Sometimes, we don’t know what we’re actually passionate about. Start something, and if you don’t love it, stop it and start something else. What you love now is not always what you thought it would be ten years ago.
  • Focus on quality over quantity. Create the best content, not just a lot of it, and then work on getting people to come to your site. Spend more time marketing than creating content.
  • If your content is really good, it’s more likely that clients and visitors to your site will quote and link to it to share the content. This kind of marketing is much more effective than self-promotion.  
  • Kristin is giving away 5 copies of his book.

 

“I would say that with passion, the biggest problem that people face is actually not knowing what they're passionate about.” - Neil Patel

(click to tweet)

Resources

 

HustleGeneration.com

NeilPatel.com

CrazyEgg.com

KissMetrics.com

HelloBar.com

Listen at:  intrepidentrepreneur.net/neil-patel

Oct 7, 2016

Show Notes: IntrepidEntrepreneur.net/diane-martinez

How many times have you planned an event and not known how approach getting the word out? Marketing and community building can be overwhelming, there are so many different strategies and mediums to work with!

I’m getting super practical on this week’s podcast, and answering questions from Diane Martinez, co-founder of the Rough Riders cycling event in Angel Fire, New Mexico, about how to grow attendance at this amazing event.

We’re talking through Diane’s current strategy to build attendance, and then I’m digging into how to spread the word by using your email list, rewarding loyalty, and getting faithful customers to share their experiences.

We’re also discussing into the importance of a good website, when to do a marketing push, and how to get organized with your blog posts!

This special episode is full of hands-on advice for any entrepreneur looking to raise awareness and build community around their product.

Bravery in Business Quote

“Often times you just have to ask people to do something, and they’ll do it. That’s the Call to Action. It’s a simple thing” - Kristin Carpenter-Ogden

(click to tweet)

Cliff Notes:

  • Use email lists effectively. Don’t make the assumption that people don’t want to hear from you very often. Make sure you’re sending quality content that people will want to read, but give them the benefit of the doubt in terms of interest.
  • Who is your ideal avatar? What stories do they want to hear from you, and how are you going to connect them with that? Don’t think of these as obstacles, but as plans to get organized to address.
  • Create special ways to reward loyalty and get people to keep coming back. Send VIP communications to your loyal customers, with special information and opportunities tailored to this group. At events, think of a way to treat your long term customers in a way that will makes others want to become one, but without seeming exclusive.
  • Ask fans what kind of resource based content they might like more of. Look for what people are interested in, and what you can do to respond to those special interests.
  • Your website is a point of entry for possible new clients. Offer information about the experience of your product, rather than the facts. Think about why your project is unique, and show that to your customers.
  • Set up a themed editorial content calendar to organize your appeals and marketing pushes. Organize your blogs and emails around these themes, for consistency and to showcase special aspects of the event/product.
  • If you’re referencing other companies, sites or locations, tag them in your posts, and send a quick email letting them know they’ve been featured. Consider also sending them a quick line or two to post on their own site about your event’s use of their space, photos, etc.
  • Use raving fans to reach out to other people. Feature them in blog posts, or let them do an Instagram takeover to show people the event through their eyes, what they will get to experiences as a participant or customers.
  • If it’s worked, don’t get rid of your original marketing plan, but expand it into new venues to appeal to different kinds of clients. Just because paper fliers are working doesn’t mean that social media won’t be effective with also, or with a different demographic.
  • Be remarkable to your avatar, but pay attention to their needs. Position all your other options and products as resources to help them achieve their goals, not lesser products.  
  • Use paid positioning on social media/ marketing strategically. Wait until an important moment, or a new product, so that people will have something new and interesting to click on.

“You want to try and be remarkable to your avatar and not to everyone” - Kristin Carpenter-Ogden

(click to tweet)

Resources:

RoughRiders200.com

EventBrite.com

Show Notes: IntrepidEntrepreneur.net/diane-martinez

Sep 30, 2016

There are a lot of pieces that go into building a strong company. Name recognition, brand identity, consumer support, marketing plans, you name it, we need it! But there’s one thing no company survive without, and that is an amazing product.

Nathan Chan, founder of Foundr magazine and online resource for entrepreneurs, is talking with me on this episode about how to focus on building an assets-based company.

We’re getting into the building blocks of any successful company, how to begin simple and  expand once you’re ready.

Nathan has so much experience with online and print media, he’s letting us in on how these two platforms can help to build a wide identity for your business. He’s digging into how to handle social media – what it can help you to build and when to be wary of it. Remember, you don’t own the platform, so it can only get you so far!

We’re also talking about the life of the passion-driven entrepreneur, asset building, and how to think like a start-up!  Get ready to take some notes!

Sep 23, 2016

Being a passion driven entrepreneur is one thing, but incorporating that passion into everything that you do is another, even more challenging endeavor.

My guest this week is not only a highly successful Colorado entrepreneur, but he is also giving back to the state by investing energy in what he loves: outdoor sports. Ken Gart has run and started several successful sporting goods companies and other ventures, but most importantly he is currently the Bike Czar of Colorado.

Ken and I are talking about the current state of the outdoor sports markets. There are a lot of shake-ups underway, but don’t worry – it’s not all bad! We’re getting into what sets small business apart and how these differences can lead to success in ways that big companies can’t match.

We’re also getting into the Colorado bike initiative, what’s making Ken so motivated to throw his time and energy into this big project, and how he’s trying to get others to emotionally buy in.

Ken is so passionate about the field he’s working in, and he’s managed to turn all of this excitement into success, several times over. He’s an inspiration for all of us passion driven entrepreneurs, whatever field it’s in.

Bravery in Business Quote

“I think there's still opportunities in the retail world, but the applecart has been upset, and it ain't going to be fixed.” - Ken Gart

(click to tweet)

Cliff Notes:

  • Ken Gart, is an entrepreneur. His investments range from specialty retailing to real estate development to large sporting goods companies. He is currently the Bike Czar of Colorado, as titled by the Governor.
  • The outdoor sporting goods industry is going through a time of change. The major retailers are still big players, but they’re not as flexible as smaller companies. Innovators can respond to the market faster and more efficiently than big business.
  • Right now, big companies stuck with an old business model are the most vulnerable. The smaller companies can create more loyalty and find new opportunities in specialty communities. Smaller companies should focus on becoming the hub for the people they serve, online or in a physical community.
  • Let your skills from other ventures and experiences help with your current work. Ken brought his business skills and ski rental experience to the table when he started helping with the bike sharing initiative in Denver.
  • Let people know when you’re really committed to a project. If you want people to go all in, make sure they know you are 100% committed to it also. When Ken saw that the governor was really committed to building bike infrastructure in Colorado, he was much more willing to put in more of his time and money to help out.
  • Show people the value of your products, don’t just tell them. In working on the bike infrastructure initiative, Ken has been doing bike trails with the governor and gotten some state officials out with them to ride. Get partners and clients to emotionally buy in.
  • Get advice from someone in your field. Ken found a national company doing the same non-profit work that he is starting in Colorado, promoting bikes and biking infrastructure, and got them to give him advice and guidance.

 

“Everybody can bike. I think it's such a great way of sharing the outdoors and sharing the lifestyle and the health and wellness initiative through sport” - Ken Gart

(click to tweet)

Resources:

GartCompanies.com

https://goo.gl/4FsSn2 : State of Colorado's announcement to invest $100 million in bicycle infrastructure link:

PeopleForBikes.org

Show notes at: IntrepidEntrepreneur.net/ken-gart

Sep 16, 2016

Running a business is a lot of work. Who am I kidding, I’m sure you all know this. I certainly feel like there’s a lot on my plate with just my two endeavors.

But my guest for this episode is a retired professional cyclist, an author, and currently has four entrepreneurial endeavors underway. George Hincapie is an athlete I’ve always admired and I’ve come to respect him even more so after reading his memoir, The Loyal Lieutenant: Leading Out Lance and Pushing Through the Pain on the Rocky Road to Paris.

George is sharing his experience of almost two decades in the cycling industry, and how this experience has benefitted him as an entrepreneur. We’re talking about developing character, the importance of a positive mindset, and having a team mentality to get things done.

He’s also discussing how crucial his support network has been, and how he’s chosen to be supportive in the small, competitive field of cycling.

George is a versatile and hard-working entrepreneur, working in several different industries. He’s got great advice on investors, character, and keeping your eye on the prize. No matter what industry you work in, you won’t want to miss this conversation.

Bravery in Business Quote

“I mean, if you let doubt enter your mind while you’re going into a race —Then you're already behind the 8-ball.” - George Hincapie

(click to tweet)

Cliff Notes:

  • Retired professional cyclist and past owner of Hincapie sportswear. Currently involved in several entrepreunrial endeavors, including Hincapie Racing Team, Gran Fondo, and Hotel Domestique.
  • Hincapie Sportswear has their own factory in Colombia, run by George’s Aunt and Uncle. (Kristin said she wanted this in the shownotes)
  • Bootstrapping and looking for investors are not mutually exclusive business strategies. You can have investors and still be running much of daily operations and marketing yourself.
  • Think of more intimate ways to get to know your clients. Trade shows and large professional events are not always a great value for the time and finances required to attend. Hincapie Sportswear flew all of their biggest buyers out to Hotel Domestique to show them the new lines of product last year.
  • Use connections you have from other endeavors or lines of work to grow your business. George brought his biking contacts and knowledgeability to each of his new businesses.
  • Team is everything. Focus on being a good teammate, and a good leader. Trust people to do what they do best, and don’t micromanage. Try to be the best team member, not the best individual.
  • Sometimes great ideas come to you when you’re doing something else. George got a lot of his ideas for his book while biking. Get away from the office.
  • Outside support is important in any endeavor. It’s important to have the support of your teammates and co-workers, but also that of your family and close friends. George’s parents supported him in his early years, and his wife was a huge help during the book writing process.

 

“The difference is, on a level playing field, a lot has to with your mindset” - George Hincapie

Resources:

http://www.georgehincapie.com/

http://hincapie.com/

http://www.hincapieracing.com/

http://hoteldomestique.com/

http://granfondohincapie.com/

 

Blog Ideas

Supporting and building teamwork and character in your business/team

Having a good mentality to win

Bringing strengths and traits from other experiences to your business

Show notes at: intrepidentrepreneur.net/george-hincapie-2/

Sep 9, 2016

Full Show Notes, with Bullet Points and Links to Resources, can be found at IntrepidEntrepreneur.net/focus-on-process

At some point in time, everyone has gotten stuck. Stuck in the mud, stuck in the snow, stuck in a situation we want out of. For us passion driven entrepreneurs, it’s often stuck on an idea we love that’s struggling to become a reality.

As those of you who follow me know, the past few months have been pretty rough on me. I’ve been stuck. But I did found a way to work through it, and I want to share my process with all of you. This episode is a special Intrepid Entrepreneur Solocast, but it’s also an audio training on how to get unstuck.

I’ve devised a five step process to help you open your mind to new approaches and re-evaluate your strategy. Being too comfortable can get in the way of making amazing changes! It’s about doing what you love, failing forward, and focusing on the process.

I’m also sharing some books, resources, and quotes that have helped me work through this un-sticking process, and start to rethink my game plan for Intrepid. You’ll want to take a look.

These are tested strategies specific to passion driven entrepreneurs. So what are you stuck on? Get ready to try something new!

Full Show Notes, with Bullet Points and Links to Resources, can be found at IntrepidEntrepreneur.net/focus-on-process

Sep 2, 2016

Show notes:  Intrepidentrepreneur.net/michael-engleman

As we head into the grand finale of this year’s racing season, there is so much momentum behind women’s cycling. You might have even seen some of the events during the Rio Olympics, I can say that I almost wore myself hoarse shouting at the screen!   

I’m super excited have Michael Engleman of Mission Sports Group with me on this episode to be talking about the movement of women’s cycling and how he’s working to turn all of this momentum into growth and sponsorships.

Michael’s telling stories about individual cyclists and inspirational stories of teams that are being built, because stories sell.

He’s sharing how to get these stories out, and how to use narrative to approach sponsors and investors. Sometimes, you have to present them with an idea for their brand identity they hadn’t even thought of!        

For anyone interested in trying to expand the reach and interest of their industry, or anyone like me who just loves women’s cycling, this episode is for you!

Bravery in Business Quote

“You're trying to change the world, not just capture a bigger piece of the market that's already there.” - Michael Engleman

(click to tweet)

Cliff Notes

  • Michael Engleman, founder and owner of Mission Sports Group, a company that supports women’s cyclists
  • It doesn’t matter where you start your company as long as you know how to get the resources you need.  Michael runs Missions Sports group out of a small town in Colorado, but there are a lot of intellectual and technological resources for him to tap into.
  • Women’s cycling right now is full of big personalities and stories and cyclists with their own angles and ideas. This makes the industry more interesting to cover and to follow, generating momentum.
  • Use stories to build interest and involvement with your company. Local bike shops can be connected with youth programs, but without someone (like Michael) to get this story out, no one will know.
  • Being passionate about what you’re selling will make you a good salesperson, more than just being good at talking about it. People notice and connect with authenticity.
  • Show prospective investors and/or sponsors the potential in getting involved with your industry. Pitch them how this is an opportunity for new markets, or to expand their brand identity in ways not previously considered.
  • Momentum makes change happen faster. Women’s cycling is a smaller industry than men’s, but with all the stories coming out of it, the rate at which more people get involved and grow the market is changing quickly.

 

“I think those of us that believe in the sport and those of us that see the story, need to start telling it in a bigger way.” - Michael Engleman

(click to tweet)

Resources:

MissionSportsGroup.com

Total Women’s Cycling coverage of Team Africa Rising:

TotalWomensCycling.com

Jason Gay WSJ article on Mara Abbott

WSJ.com/articles

Show notes:  Intrepidentrepreneur.net/michael-engleman

Aug 26, 2016

 

Show Notes: IntrepidEntrepreneur.net/ty-crandall

How many times have you filled out business credit applications, and had to use your personal credit to get approval?  Did you know that businesses have a credit report all of their own?

This week on Intrepid Entrepreneur, Ty Crandall of Credit Suite is sharing the secret to applying for and building your business’ credit, and how to keep your personal credit out of it.

He’s explaining how to get your business ready to apply for credit, and where to go first to build this credit. I’ll give you a hint: it’s not the bank. We’re also digging into the benefits of working on business credit instead of personal credit. As Ty says, “Anybody can bootstrap a business, it just takes longer.”

There’s so much important, practical business information in this episode, so get ready to take notes on this one! 

Bravery in Business Quote

“The truth behind crowdfunding is they’re set up that way. . .They already had tons of money from people.” -- Ty Crandall

(click to tweet)

 

Cliff Notes

 

  • Ty Crandall, owner of Credit Suite, a company that helps entrepreneurs build a credit report for their business.
  • People don’t realize that their business have credit and a credit score because no one talks about it or teaches them how to start building this credit.
  • A lot of businesses qualify for financing, but don’t know where to get it since bank loans are often the most rigorous to obtain.
  • Anybody can pull your business credit report without permission. For personal credit, people need permission but business information is public.
  • It doesn’t take much time to get your business credit started. But it takes more time to build your credit, fill out applications, etc. Just like personal credit, business credit grows and changes with the business.
  • If you have the business credit, you won’t need to ensure your business’ finances with your personal credit, but can rely on the company’s EIN and credit score to get financing. It’s a great way to protect your individual finances.
  • Business credit can speed up the start time of your company, because it gives you access to more funding and makes your business more credible. You can finance everything with your own credit, but it takes longer.
  • Crowdfunding can require a lot of money upfront. A lot of successful crowdfunding drives come into it with a lot of backers and financial support and are using the campaign as more of a PR event.

 

Steps to Building Business Credit

  1. Get your business credible on paper. Need: website, email address, address, phone number, specific to your business even if you work from home. Make sure every line on an application
  2. Go to “secret” vendor sources that will give credit to your business. They will give you credit even when you have none, and will report it to business credit reporting agencies so you can start building your credit. Take that to major businesses/retailers to apply for business credit cards.
  3. Start leaving out your SSN on applications. Leave that blank so that they will have to start pulling your business’ EIN to check business credit instead of personal credit.

 

“You can really go out right in the beginning and start obtaining capital through business credit without that personal guarantee“ - Ty Crandall

(click to tweet)

 

Resources

CreditSuite.com

YouTube.com/channel (youtube channel)

 

Show Notes: IntrepidEntrepreneur.net/ty-crandall

 

Aug 19, 2016

In passion driven entrepreneurship, one of the biggest and most rewarding challenges is overcoming negative thinking. This year, there’s been a lot of talk about changes and instability in the bike industry. But for creative entrepreneurs like my guest this week, Andre Shoumatoff of Park City Bike Demos, change can be a huge opportunity!

Andre’s sharing how he and his partners used their knowledge of bikes and the current struggles of the industry to pivot into a new model of selling and renting bikes. We’re also discussing how to notice and respond to optimization points to grow your business, and what to do with customer feedback.

For anyone wondering how to turn what’s not working into a success, this episode is eye-opening. Andre’s got some amazing insights on evaluating the industry, advertising partnerships, and listening to your customers.

Bravery in Business quote

“We really do believe that we've stumbled on to something, and it's been literally a brutal, brutal chore to get there.”- Andre Shoumatoff

(click to tweet)

Cliff Notes

  • Started Park City Demos with some friends as a mobile bike rental business. 20% bike sales, 80% rentals, hoping to go on to sell a bike to 1 in 10 renters
  • Pay attention to market demand and adjust your business/inventory according to these points of optimization. Originally, Park City Demos was only selling and renting expensive bikes, but they quickly learned there was a demand for a wider variety of bikes. Now, highest selling bikes are cruisers.
  • Started co-marketing with other brands on digital marketing, which brought in a lot of people. This strategy can work really well, but only if you are well versed in it and working with a good partner.
  • Figure out what business like yours that are going under have done wrong.  Identify what needs fixed in these business models so that you can pivot away from it.
  • The traditional bike shop is slowly going away. Andre and his co-founders have evaluated the reasons these stores are suffering and are working to create new models for bike rentals and sales to make Park City Demos a success.
  • Work on building customer experience. Collect customer data to see what people perceive your business to be, and then adjust to portray your message more clearly.
  • Keep track of customer requests/ responses so that you will have a record to see what ideas/products that you’re not selling are the most in demand. Park City Demos keeps a simple excel spreadsheet of all their customer requests.

“If we do a good job with our tools, our sales, structure or standard operating procedures, and our technology, and then little things like physical space, etc. then we think we can sell bikes” - Andre Shoumatoff

Resources:

parkcitybikedemos.com

Show notes: http://intrepidentrepreneur.net/andre-shoumatoff

Aug 12, 2016

What is it that first drew you to the outdoor sports markets? Where did that first spark of passion for entrepreneurship in the outdoor markets come from? For so many of us, the answer is simple: we love outdoor sports, and we had a great idea for how to improve the experience!

What isn’t often discussed is the overlap in the psychology of being an entrepreneur, and that of an endurance athlete. So many of the skills that we learn from athletics and the outdoors are directly relevant to the experience of getting a business started and sustaining it.

To shed even more light on this overlap, I’m taking with Matt Fitzgerald, author of How Bad Do You Want It, on what he’s learned about “endurance psychology”, the psychology of mind over muscle that gets people through tough physical competitions.

In writing this book, Matt did case studies of athletes like Ned Overend, Siri Lindley and John "The Penguin" Bingham. He’s discussing what it is that motivates and sustains them to such high levels. We’re talking about passion, drive, and the “why” that are necessary to win races, and to start a business.

Matt and I are also discussing something that I personally struggle with – the courage to start! Just getting started on a business idea or in a sport can be daunting, to the point that some of us have ideas we’ve never looked into, sports we’ve never explored for fear of failure.

These fears are limiters and obstacles that will come out in any stressful situation, and what has more potential for stress than the pursuit of our goals?  Matt’s looked at endurance athletes that have overcome negative mentalities to go on to amazing careers, and he’s sharing what he’s learned.

Endurance psychology is crucial for athletes in outdoor sports, entrepreneurs, or anyone with an achievement goal.  I’ve already read Matt’s book three times, and I’m thrilled with the insights he’s bringing to this week’s podcast.  

Bravery in Business Quote

"The greatest athletic performances spring from the mind, not the body." - Matt Fitzgerald

(Click to tweet)

Cliff Notes

  • There is a ton of overlap between endurance sports and being a passion-driven entrepreneur, and not just because a lot of entrepreneurs in the outdoor markets got into them through a love of outdoor sports.
  • Any high performer in any kind of endeavor needs to know how to maintain passion. Make sure you’re taking the time to nurture that passion and do what you enjoy outside, to bring that creativity back in and remember why you got into outdoor sports entrepreneurism in the first place.
  • Working on a business with another person/ team sports/ mastermind groups can help you to aim for high performance goals, when team work & competition are on your side. Working in a competitive group can serve self-interest and personal goals, while also serving the goals of team mates.
  • Everyone has limiters and obstacles and when we’re stressed in pursuit of difficult goals, these limiters in our psychology will come out, and then we have to figure out how to overcome them.
  • You have to know what personally motivates you in order to perform at the highest levels. What is the meaning of this story/event/business, for you? These answers are not the same for every person, so you need to know what yours are.
  • It can sometimes take the most courage just to start running, start expanding on or just looking into your business idea. You might not be the best at whatever sport, might not be the biggest in the industry, but you have to decide what the point is for you to work your hardest so that it’s worth even beginning.
  • You can start for any reason you want.  As long as you know what your reason is, this can give you the courage to begin.
  • Kristin is giving away 5 signed copies of book

“You need a fit body to be able to perform well as an endurance athlete, but your real fundamental limiter is your mind.” - Matt Fitzgerald

(Click to tweet)

Resources:

MattFitzgerald.org

VeloPress.com

Show Notes: IntrepidEntrepreneur.net/Matt-Fitzgerald

Aug 5, 2016

Dear audience, this is a very special solocast from me, speaking raw and honest to you the night after presenting at Pitchfest. Those of you who have given pitches will know how I’m feeling – a weight lifted off to be finally done, but exhausted from a humbling and excruciating experience.

Since I’ve been sharing with you my process in preparing this pitch deck, I wanted to let you in on how it went and the feedback I received from the judges. I’m digging into what the experience of Pitchfest was like for me as a presenter, how I kept myself in the moment during the event, and how I’m working through processing the critiques from our all-star panel of judges.     

After the event, I feel like I’m at a real inflection point with Intrepid Entrepreneur. I am so passionate about supporting the outdoor markets but need to do some serious thinking about my business model.  This solocast is a short, unscripted reaction from me after Pitchfest, and I’d love for you to listen to it and then let me know what you want more of from Intrepid. Shoot me an email at kco@intrepidentreprenur.net, I’m so grateful for all of you, dear audience, and would love you hear from you.

 

Show Notes: Intrepid Entrepreneur.net/post-pitch-fest

Jul 29, 2016

Kickstarter campaigns, wefunder, and equity crowdfunding—we’ve been talking a lot about new techniques for raising capital over the past few months! This week, I’m switching gears and talking with a colleague who works in a more traditional funding field: venture capitalism.

Ben Rifkin, president of Royal Street Investment and Innovation Center and my mentor for the upcoming OWIC Pitchfest, is visiting this week’s Intrepid Entrepreneur Podcast to share his experience working in venture capital, evaluating new companies and collaborating with them to meet goals.  

Before you even start looking for capital and investors, Ben says you need to know what your end goal is and then think backwards. What kind of company is your startup going to grow up to be? He’s sharing his thoughts on what kind of investments different types of companies might look for. It’s about knowing whose attention you want to catch before you need it.

We’re also discussing how startups can benefit from both crowdfunding and venture investments. Running a strong crowdfunding campaign and getting your product out on time, as promised, can speak volumes to future investors. It says a lot about one of the most important assets a company can have—you, the founders! And these aren’t the only ways you can use successful non-traditional sources of funding to prove your product to traditional investors!

Ben’s also letting us in on what he sees as the difference between tech startups and the outdoor markets, and how this changes the search for investors.

Although crowd funding has given us entrepreneurs some amazing opportunities, this conversation with Ben sheds some really insightful light on what investors look for, how to think about and present the future of your business, and the wide range of options for those of us who might need capital to get to where we want to be.  

Bravery in Business Quote

“Whose radars do we need to be on? You should be able to name those companies before you even go out and look for money.” - Ben Rifkin

(Click to tweet)

Cliff Notes

  • Venture capital is the most expensive money a company can take, because you have to give up pieces of your company to get it (equity). With venture, every time you make money you have to give away some of your company.
  • For entrepreneurs, the benefit of non-traditional funding (crowd funding, etc.) is that you can access capital without losing control or having to give up a steak in your company.
  • Venture capital is not for every company, but it opens pathways to very quick growth and can be lucrative, for the entrepreneur as well as for the acquiring company, in the right scenario.
  • Companies with a good Kickstarter or crowdfunding campaign, that raise the money and then deliver the product on time, look really good to venture capitalists, and are more likely to get a strong consideration, Kickstarter can work as a proof of concept.
  • Non-traditional funding can also allow companies to get a lot farther along before they start needing or seeking more traditional investments from firms.
  • Two pathways to growth:
  1. Pour in a lot of money and focus on getting distribution up as fast as possible without worrying about bottom line. This is kind of an older model, and you often end up needing capital to fund operating costs, etc.
  2. Establish a track record and grow by connecting with consumers more directly through social media, platforms, etc. Take advantage of these developments for feedback and get to know your consumers.
  • Venture capital firm puts a lot of value on founders, since they are usually the CEO, the person who has gotten the company up and running to the point that it’s at, and they are the one who will see it through any changes in the future.
  • A founder who was taken the time to get to know their customers, respond to feedback and pays attention to the metrics is a very important factor to venture capitalists.
  • Any data an early stage company can gather to test their hypothesis and proof of product helps venture capital firms to know how far along the company is. Look for way to show them that it has been “de-risked”.
  • Listening is a very important quality for an entrepreneur to have. Not just listening to an investor or mentor’s advice and following it to the letter, but being open to suggestions and taking them into serious consideration.
  • When thinking about sources of capital, it is important to think about the end goal of your business first. What is it trying to grow up to be? And from there, think backwards about what kinds of funding will get it there.  
  • Outdoor markets are more competitive than technology markets. More competitive for consumers, and definitely more competitive if your goal is to be acquired by a venture capital firm.
  • Some outdoor startups are looking to be more “lifestyle businesses”, meaning profitable, returning money to shareholders and very large. In this case, you probably don’t want to get acquired by a venture capital firm.
  • If you are looking to get acquired, you should know the names of the firms you’re interested in and who’s radar it’s important to be on before you even start going out there to look for money.

“The more data that an early stage company can kind of gather, the more that they can test their hypothesis about how to reach consumers, how to sell product. That, for us, helps to de-risk an investment.” - Ben Rifkin


Resources

RoyalStreet.vc

OIWC.org/EventDetails

 

Show Notes: IntrepidEntrepreneur.net/Ben-Rifkin

Jul 23, 2016

As you may know, I reserve my solocasts for topics which have been nothing short of monumental in my journey as an outdoor founder. So this week, I’m talking with all of you about something that, having started two companies and been in the outdoor industries for fifteen years, I had never done up until a few weeks ago.

What I’m talking about is . . . writing a pitch deck! In just a few weeks, I’ll be presenting at the Outdoor Women’s Industry Coalition Pitchfest. I’m super honored to have been selected to be one of this year’s presenters, but it’s a new and challenging experience for me. In preparing my own pitch deck for the event, I learned so much about building and rehearsing pitch decks and I’m excited to share this process with you.

When I sat down to write my pitch, I had to really get to the nitty gritty and evaluate what my company needed, what I wanted to get from this experience. I had to know, specifically what my ask was.

And then, I started reading about how to give an awesome pitch. In my solocast, I’m talking about the two most helpful resources to me in preparing this pitch deck, and the hard editing process I’ve been working through to get it just right.

I’m also sharing some of the negative thoughts I’m refusing to believe about my pitch, and three steps for building an amazing pitch.  

This pitch deck has been such a learning experience for me and for developing how I think about the needs of my company. I’ve never done one before, but I’m choosing to see this an asset, not a liability. If you don’t know what can’t be done, there’s nothing to stop you.

I hope you’ll learn from my process and the resources I’m sharing. This episode is a must listen for anyone looking to pitch or promote their ideas! 

Bravery in Business Quote

“Well, the way I look at that is I've never done this before and that's actually my biggest advantage. Because what I don't know won't hurt me, right?” - Kristin Carpenter Ogden

(Click to tweet)

Cliff Notes

  • Entrepreneurs should pitch a story, not just figures and facts.
  • Struggled with two limiting ideas about writing this pitch. She refused to believe them, but they’re still inside her head all the time.
  1. She didn’t have enough time to write a good pitch deck. Only had six weeks from the time she found out she got in to the presentation.
  2. The pitch is only five minutes long. She is “incredibly verbose” so 5 minutes is a real challenge.
  • Started telling herself that not having done this before was an advantage. Because she doesn’t have the experience to know that it can’t be done in 5 minutes, she’s going for it.
  • Rehearse your pitch in front of a variety of people to figure out what the different reactions are, and what engages each audience
  • Edit out everything that isn’t causing an emotional reaction. Even pitching financials, she tried to frame them in terms of a story, hot cognition.
  • When giving the pitch, stay present because this will keep you confident. Confidence also comes from being well prepared.

 

3 Tips for Building a Pitch Deck

 

  1.      Focus on “hot cognition”, i.e. stories that will spark emotion (from Klaff).
  2.     Confidence creates flow. Be Confident.
  3.     Remember that you are just the vessel for the mission of the project.

“I have two children in real life and I have two children in my business is I guess you'll love them both very much, not one over the other. They're very different.”

(Click to tweet)

Resources

OIWC.org

IntrepidEntrepreneur.net

PitchAnything.com                                                                                    

GetBacked.com

Questions@IntrepidEntrepreneur.net

 

Show Notes: IntrepidEntrepreneur.net/pitchdeck

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