Category: technology

DIY Fund Investing Fintech Tools Wendy Garfinkel Nissan Eric Nissan Cofounders Show 048



LISTENUPSHOW
Startup Round:

Wendy and Eric are not only husband and wife have two children but after careers on Wall Street, Eric as a technologist working for a $10 billion dollar hedge fund and Wendy working as a Bond trader. Their co-founded company is called DIY.Fund providing professional investment management software fintech tool and resources for individual investors. Wendy Garfinkle Nissan and Eric Nissan were both Wall Street Veterans now with DIY.Fund they are ready to show you how easy it is to Do-it-yourself! It’s FREE #fintech.

The Nissan’s were honored via #BZAwards for their @Diyfund investment best #FinTech tools and resources “Level the Playing Field” award! Check them out on the Red Carpet!!.

What we learn on today’s show:

so you help people invest professionally using do-it-yourself tools?
how they left Wall Street to Startup, what their differentiator is in the do-it-yourself investment platform niche, how their web platform actually helps the average listener in our audience manage their own portfolio, understand risk, and keep track of their performance; Starter Studio Incubator, 6 easy, simple straightforward Steps: DESIGN A PORTFOLIO, SET INVESTMENT GOALS, MONITOR THE PORTFOLIO, SO WHAT IS RISK ANYWAY, OVERSEE ALL INVESTMENTS, HEY NOW – INVEST LIIKE A PRO!; holistic approach to managing money.

Fast Pitch Round:

Book recommendation:

Wendy: Lean Startup – Eric Reis
Eric: A Random Walk Down Wall Street by Burton Gordon Malkiel, a Princeton economist,

App recommendation:

Personal Capital Net Worth Calculator

Wrap Up Round:

How can people stay in contact

The website www.diy.fund, without a “com” at the end.
The blog at blog.diy.fund
Twitter handle is @Diyfund.
Email: Wendy@diy.fund
Eric@diy.fund

Three main take aways
1) Investments: Understand what it means to invest and how things work.
2) Startups:the ability to adapt, think what else can I be doing.
3) Customers: Foucs on what your customers want by constant feedback not what you think they want.

YouTube Channel Platform: mitchellchadrow.com/youtube
mitchellchadrow.com/youtube048

Girls Technology Leader Techgirlz Founder Tracey Welson Rossman Listenup Show 038 Startup Entrepreneur Podcast



LISTENUPSHOW
The post Girls Technology Leader Techgirlz Founder Tracey Welson Rossman Listenup Show 038 Startup Entrepreneur Podcast was first published on MitchellChadrow.com
engagement, education, and empowerment of girls who are passionate about technology. Create a support framework to help girls advance to a career in technology. Helping grow innovative girls entering into the high-tech industry and one-day building startups. Providing girls with an interest in technology, those who will startup providing a platform for learning and growing.
Facilitating learning and skill building through technology curriculum and programming. Utilizing the power of technology to bring girls together to shape their future and build leaders in the US.
Techgirlz
Philly Startup Leaders
Chariot Solutions
Women in Tech Summit

Internet of Things Startups Brinc Cofounder Bay McLaughlin Show 035

 

 

Internet of Things Startups

Brinc, Cofounder Bay McLaughlin

Internet of Things Startups, Bay McLaughlin on Show 035.

 

 

You’re listening to listen up show podcast show 035 today we’re talking with Internet of Things startup founder of blank baby McLaughlin who actually helped start up start up their own internet of things your business if your family you’re like let’s get started.

Hey everybody Mitchell Chadrow here welcome to listen up show podcast if this is your first time listening and thanks for stopping by the listen up show podcast is produced several times per week for your entertainment and show notes are found at MitchellChadrow.com/ show 035 come back often and feel free to add the podcast your
favorite RSS feed or iTunes please sign up to my email list for the latest special offers exclusively for our listen up show start-up entrepreneur podcast audience and Mitchell Chadrow.com/sign up our three sponsors today hostgator sponsors our startup round audible an amazon company sponsors are fast pitch and snap sponsors our wrap-up you can also follow me on twitter @MitchellChadrow and facebook.com/listenupshow

All links are in the show notes now let’s get into the show what are we going to actually talk about today well we’re going to talk technology we’re going to talk startups, Internet of Things and entrepreneurship.

Mitchell: How are you this evening

Bay: Well its first thing in the morning by
in Hong Kong, but I’m doing great.

Mitchell: Wow so so wait a minute you’re actually
calling us right now from Hong Kong.

Bay: That’s right .

Mitchell: Wow that’s really really cool. Right now it’s this evening here in
Philadelphia so you know we really appreciate you being outside the US and in doing a lot of traveling coming on the show where we’re really excited we’re we’re looking forward to jumping right in here covering quite a bit.

Q: So what’s the one best piece of business advice you’ve ever received?

Bay: Wow so many I’m huge on mentorship so I like to take advice from a lot of people and get a lot of people have different opinions but i would say that one big thing from moving from originally close to the United States a group of Virginia that I studied abroad a couple times Germany Australia the west coast San Francisco almost 10 years now easy three years was one of my mentors my master’s program told me that you know it’s not just something fun for you to do question what you know where you grew up then all things believes that you’re given growing up as a kid but it’s actually almost responsibility and that you don’t need traveling around and uprooting myself actually given a lot of
opportunity to my family my friends because now you can one person do it before you only need one person only one example to know that something point definitely have upset a lot of people in my family and I definitely know that a lot of friendships strange kind of moving around that I’ve done but I do know that you have a couple of those people behind you saying you know what is actually really kind of positive tail went that you might not even understand but now my nephews my niece’s my next-door neighbors people that you see me online that opportunity you know if you did it maybe I can do it and I never really thought about that angle for i’ll give you a little extra motivation to keep
going

Mitchell: You know it’s really amazing and we’re gonna we’re gonna get into this and a little bit as we continue to ask you some questions here but I mean you’re quite a world traveler and you’ve been able to see a whole lot of different things and I’m sure that that sort of gives you a competitive edge in business can you can you talk to us a little bit about that i mean you know your your experiences in terms of traveling and seeing you know different countries and and working with different people all over the world

Bay: Really yeah i agree percent and you don’t really know that you know I definitely understand that the you know how scary might be the
message don’t know but just culturally you know right now although i live in very much a Western neighborhood reality is every single day I’m a foreigner and that’s a crazy mind shift that has to happen and it happened
4:32like family as they visit out here for
4:34our daily basis you know people who
4:36looked like you needed speak English or
4:38less than one and especially in mainland
4:42China you know a million or more but
4:45it’s it’s really important that people
4:48understand that this thing that I want
4:50to know about macroeconomics and the
4:51headlines in the news of their high
4:53school over whether you’re in your
4:54fifties this idea of globalization is
4:57not a joke
4:59this is super real and it’s happening at
5:01a pace now that the Internet is a
5:03conduit it’s happening so incredibly
5:05fast behind and people really don’t
5:08understand that you know a lot of my
5:09family and friends that are sitting in
5:11Virginia hours in the west coast and
5:13they actually don’t see the influence of
5:15China that in their backyard right now
5:17you know frankly speaking before they
5:20arrive will probably live in the
5:22building have a ball work for a company
5:24that hold the Chinese out and if you
5:27don’t understand that then
5:28really you’re not going to be
5:30competitive in the long term and that’s
5:31what I think
5:3230 and i will get people behind in their
5:3520 kids are going to high school I
5:37really think that if they don’t find a
5:39way to break out to get exposure to the
5:42way of doing things specifically China
5:44that you’re really not that it’s almost
5:47like Microsoft Word and all the kind of
5:50basic literacy and now coding without
5:54the expectation I think that
5:56understanding business culture
5:59specifically Eastern cultures more
6:01specifically Chinese is going to be the
6:03new baseline expectation in the next
6:0620-30 years so for me because now that
6:08you know my wife and i think that there
6:11are 30 doing this is just massive
6:13advantage but that’s why were you late
6:16forties fifties this will be dis
6:17completely not more than expected

Q: So the world the world really is flat and and that kind of takes me into you know you actually help people with this internet thing things founders go from you’re actually helping founders go from concept to
launch you know in this world where you know eventually everything is connected so when someone actually acts you pay so what do you do like what do you tell them and we’re starting i think that the biggest thing that was going on is Valley almost 10 years you know this is unfortunate i don’t know well i found this is real I like it but there’s a sort of force that is telling people that you need to be a founder that started and there are aspects of your bosses graded job you know doing 95 maybe that’s what the reality is working in small business whether you’re shopping company or whatever it is it’s just hard and I think this is one of the biggest fight of our founders you don’t just jump on the bandwagon because it’s cool hardware on top of all the other types
of build one of those challenging things you’ll ever do in your entire life and you know a lot of the biggest successes failures in my friend and it’s little
7:47and you have to stuff so you know it’s
7:50okay to want to get into the world but I
7:53was telling you you better be ready
7:55distracted for this because no matter
7:57what you do this the 23 year journey and
8:00it’s going to be challenging so that’s
8:03the first personal cheque I do because
8:04the biggest problem is not usually the
8:06product in technology list market risk
8:09is always the rich because being founder
8:12in this particular type of company
8:14hardware ID is taking yourself out of
8:17that comfort technology new economy the
8:19Western Way of doing things
8:21smashing yourself into the origami and
8:23easier way of doing things and
8:25challenges now you have cultural
8:28challenges physical challenges like how
8:30long it takes to get votes across the
8:31world different 30 40 countries import
8:36export taxes physics you know how your
8:39material standard shape break over the
8:41attention
8:42travel and temperatures so I really help
8:45check their commitment first business
8:49but for others that factor more
8:51challenging than others you know being
8:53in the finance world we measure all
8:55different types of rest and I and I
8:57heard you mention a real unique one and
8:59that’s called founder risk i mean it
9:01isn’t for the faint at heart and like
9:03you said it it takes its grueling and
9:06and when you start off especially in
9:08this particular space you know there’s a
9:11lot of challenges 222 certainly go
9:14through before we get into our next
9:17our next question to start up around is
9:20actually sponsored by hostgator now have
9:23you ever heard of hostgator obey
9:25yeah i went back to the states they
9:28heard about them a lot but I yeah no no
9:32certainly well you know for for all of
9:35our startups out there and for people
9:37who are just looking to sort of build a
9:40presence online and get started
9:43everything that you need to start up
9:45your website from web hosting to domain
9:48name registration you can actually go
9:50right to Hostgator and so if you guys
9:52for the listen up show the startup
9:55entrepreneur podcast if you head on over
9:58to Mitchell chatter dot-com /o skater
10:00you can actually start your plan today
10:02up day two of your startup’s actually
10:06fared we we talked a little bit about
10:08some things that could be successful but
10:12but you’ve also had some challenges and
10:14some failures can you can you tell us
10:16some of the lessons that you actually
10:18learned from those failures and the
10:21takeaways for others out there either
10:23just starting up or thinking about
10:25getting started as they continue to sort
10:28of pivot until they actually get it
10:31right
10:32sure I don’t you shoot made from the
10:35first one is all around customer
10:36development and listen to your customers
10:38and the second one is about starting out
10:41help me a little bit too early so that
10:42the first one was i joined the startup
10:44right after my matches program I got
10:46lucky actually looking for apple in
10:48college and then removed
10:49West Coast one way truck over there the
10:52best friend and the couch and start of
10:54the California Dream and hard for
10:58start-up this base berkeley california
10:59and headquartered in Scotland and it’s
11:03really challenging we’re doing higher
11:06educational sale
11:07I was also doing Irish company was
11:10traveling west coast 20 days monsters
11:12are constantly and I just got so
11:15frustrated because i couldn’t find a way
11:17to break down and explain to them the
11:19product that they thought was gonna do
11:21and do really well you know that was
11:23doing okay in Europe in the state’s just
11:25sticking and so I was a face the
11:28customer development interviews it’s
11:31realizing that this thanks
11:33this product is just not going to work
11:35we have to change it but not for
11:38whatever so they don’t try to listen to
11:40me and it was really frustrating because
11:42today’s market care about you you have
11:45to if you are willing to change the
11:48product features and positioning or
11:50whatever then what’s the point in having
11:52company you’re not just going to show
11:54you feel like downmarket expected to
11:56take it doesn’t work like that i do that
11:59at 23 work with guys were much much
12:01older than me super irritating
12:03unfortunately I told Mike later they
12:06sending a banker to liquidate the whole
12:07company sound as president everyone was
12:10fired myself that was a good lesson
12:13learned someone else’s dollars which
12:15always help you go start up games that
12:18start to jump-start cash because we had

Q: how did you how did you then begin to
12:25start to implement some of these lessons
12:28that you learn from that first failure
12:30how did you then take what you learned
12:33there and start to really I guess you
12:37were really going to pivot until you’re
12:39really into your next startup but how
12:40did you start to then implement those
12:42things from from from the lessons that
12:45you learned there in a failure

Bay: well it worked nicely actually the next
12:49part of a joint is actually two brothers
12:51technology that they had used they’d
12:54written actually run their business they
12:56thought it might’ve been his own company
12:57i got what you know I’ve introduced to
12:59them
13:00Frank Loesser
13:01cisco and so we started that you and
13:04that was nice because it took those
13:05weapons that hey listen to your customer
13:07iterator features work with them to
13:09build the product so we did that we have
13:11to back up that was when but the next
13:14lesson learned was from the person at
13:16that point was 25 and at that point I
13:20thought Francisco all the pressure tell
13:22media tells me that I’m already behind
13:24the game you know I’m 25
13:26I’m late starting a company passion for
13:29building location-based support any
13:33athlete outdoor activities and I was
13:36just me and all my money always hiding
13:39my friends to work nights and weekends
13:40developers a whole thing and it was to
13:44learn but at the end of the day 25 and I
13:48felt like I was supposed to I was the
13:51word should short average I thought I
13:54was supposed to start helping first is
13:56actually the right time so that was a
13:59huge lesson that I learned another
14:00device
14:01everyone is you’ve got a long time you
14:04know under 20 additional figure out the
14:05basics you don’t need to start just
14:07start a company and started company you
14:09are willing to bet everything on it you
14:12probably shouldn’t be found that and I
14:14think unfortunately negative to sourcing
14:18field and it applies a lot of pressure
14:21people to start companies when they
14:22probably just shouldn’t probably just be
14:24an early stage employee startup company
14:27but that was a lesson learned but i
14:29actually got a little bit lucky i made
14:32the investment of about two years ago
14:34here Frank was able to bring you some of
14:36my technology out in that business and
14:38put it back into this new apartment
14:40about eight years later so it wasn’t too
14:41bad but definitely big loss to me too
14:44well we’re gonna we’re gonna definitely
14:46get into break my I have obviously
14:48several questions about that because
14:50obviously that’s that your new company
14:52that’s been in existence now for a
14:55little bit more than two years but what
14:57what is the one saying that has
15:00contributed most would you say to your
15:02success probably discipline
15:06I’m very very regimented I’ve got the
15:10military family and all of that they
15:12were in the military
15:14my family our teachers so I’m really
15:17really have a pretty harsh discipline
15:18myself and extra hours the extra
15:23disappointed work that you put in the
15:24daily basis adds up so 33 months old but
15:28I think I want more time and learning
15:30and execution that most people do you
15:33know you probably every day and in 14
15:36hours 16 hour days every day so I love
15:39it don’t you
15:40great work so i think i started this
15:42when I was my first portable company
15:45that created a lawn mowing and i’m
15:48picking up in company with my friends 12
15:50and I think that mentality just cried
15:54all the time because the only thing you
15:56can’t get back in your life is your is
15:58time you can be able to get secondary
16:00companies even get divorced yet another
16:02you know what you can’t get any minute
16:04back in the day of your life so he’s
16:06going to be as good as you can using the
16:08actual kind of job
16:10it almost seems like you’re in the
16:12moment at each each each step of the way
16:15as your as your sort of going along
16:16you’re really turning you know
16:19leveraging it like you said you’re
16:20you’re you’re disciplined as it relates
16:22to your time time management is your is
16:24your strength is what you’re saying
16:26yeah and i think is I don’t know when
16:31this was definitely my twenties I think
16:34for a long time a lot of people look at
16:36the media telling you with your friends
16:39family tell you what book value whatever
16:42and I think I learned at some point
16:44things like the twenties that everyone
16:46has an opinion and it’s just that it’s
16:49only their opinion until you decide to
16:51internalize it and do something about it
16:53and that’s what the others are just out
16:56of your opinions and I learned around
16:59six that I have a really good got
17:03instinct on most things in my life when
17:06I second-guess that instinct I generally
17:09get burned and so I just stopped
17:11second-guessing myself now that doesn’t
17:14look every time I do a lot of research
17:16and apply logic and Jerry’s right you
17:18two but overall they feel that 99% of my
17:22life
17:22it’s the long time so I’m just wanted to
17:24trust my instincts too so it’s really
17:26listening to that for lack of a better
17:28word that inner voice that people have
17:32that intuition that they have about
17:34what’s going on internally with
17:36themselves and entrusting in themselves
17:39as well correct yeah we might be a
17:42business associate might be a business
17:43deal it might be advice from a family
17:46member it might be about she’s not
17:49supposed to take this job like all those
17:51things
17:52did you really really allowed signals
17:54from the motion all right level of body
17:56is always hearing all this stuff should
17:59probably try to justify using checklist
18:02thing will hear the pros and the cons is
18:04fifteen percent more decisions
18:06yeah that’s great but at the end of the
18:08day you gotta feel that it’s right thing
18:10first
18:11well you know it’s interesting because a
18:13lot of our audience are you know not
18:16only are they new startups but some of
18:18them are actually an entrepreneurial
18:20type of studies within the college
18:22setting and you know they’re they’re
18:25trying to decide whether to continue on
18:28with their startup or to start of
18:30something new or to pivot or to do a a
18:34co-op for example or get more experience
18:37before transitioning back to start up
18:40and it it sounds as if what you’re
18:43saying is they they really need to be in
18:44tune with that inner voice you know that
18:49that’s calling them to go that certain
18:52way I mean am I correct yeah it’s really
18:56it’s really hard to check list your life
18:58away
18:58you know you really do need to listen to
19:00more of knowing yourself and intuition I
19:05i really i really dunno I think we
19:08phrase the new word here you know you
19:09can’t really check list your life away
19:11and I and I and I think that there’s a
19:14lot of wisdom in that and I and I like
19:16that you know I i want to jump in here
19:21of course with with break I mean that
19:23that’s your new baby though the one that
19:25you’re you’re kind of working on right
19:26now and I just want to make sure that I
19:29actually understand fully
19:31what break is and and so it it appears
19:35that it’s hard when it’s like it’s like
19:37a hardware investment fund you’ve got a
19:39platform there you’re trying to bring
19:42the next wave of connected technologies
19:45to basically people shelves all around
19:48the world because from what I read on
19:50your website you’re literally in all
19:52these various countries so can you tell
19:54us specifically some of your 2016
19:58accomplishments which i think will be
20:00helpful in explaining to the audience
20:02just specifically what you guys are
20:05doing
20:06sure so I definitely appreciate the
20:10complexity of this is a new space you
20:12know IG and connecting the physical
20:14world that very new track and overall
20:17it’s still incredibly decent but the
20:21most important thing to understand about
20:22what we’re trying to do is based on our
20:24vision and the reality that we see is
20:27that every physical object in the world
20:30in our lifetime will become connected
20:31and i don’t mean you know all the light
20:33bulbs and all the cars i mean the dirt
20:36and I mean the cement and I mean the
20:39word in your floors and tights under the
20:42ground and everything and that sounds
20:46scary and dystopian to some people but i
20:49don’t think i think is happening as
20:50ability and I think that if you look at
20:52the positive that once we have
20:54everything connected we’ll finally be
20:56able to understand the data that’s
20:58around our lives so it could be our
21:00environment our bodies anything will be
21:03able to make informed decisions for the
21:04first time ever because the reality is
21:06one of our major vertical to focus on
21:08which will transition to help technology
21:11what we think about our bodies and you
21:13know how we interact with the world are
21:15doctors are really just trying to be
21:18magicians in the daily basis they’re
21:20actually getting your health anything
21:24about when you see a doctor and all
21:26different things about 15 minutes to see
21:27the doctor they know you a little bit
21:30about your blood pressure and child
21:33labor accurately diagnose you know how
21:35you’re feeling and that’s all you get 15
21:37minutes but the future where you have
21:41all the data about yourself over time in
21:43the health and their environment that
21:46you live in and out here that is very
21:49different
21:49you are outta Philly through the water
21:53content that you’re drinking all the
21:56things they actually have a chance for
21:58the first time and that’s a really
22:00positive future
22:02yeah I was gonna say is the challenge
22:07however knowing whether or not you’re
22:09you’re sort of too early to sort of move
22:13in a particular area of particular space
22:15it’s fascinating is it’s going to be so
22:17for example someone listening right now
22:20might have an idea in this particular
22:22space in this particular area and how do
22:25they know whether or not they’re they’re
22:27too early to the market where are you
22:30know sometimes being a leader is good
22:33but sometimes maybe not so so I guess
22:37how does the average person out there
22:39are no know whether it’s right or not
22:42besides just listening to the room two
22:44ish intuition i think one of the three
22:48part of how we look at founders we
22:51talked about earlier now you’re talking
22:53about market risk and market risk is
22:55exactly the down that it’s hard and
22:58physical because its software you can
23:00ship a product in two days for two
23:02months we’re talking about a two-year
23:04cycle almost minimum for the best
23:06product to the market and get into
23:09retail so that takes a long time making
23:12up that today that you’re not gonna know
23:14anything about whether it’s going well
23:16or not for about two years and people
23:18you know about crowdfunding and
23:20everything else reality is getting
23:22fundraising like a one of our team South
23:241.5 million and then we have tells role
23:29that raised three million and catalyst
23:31for change your rating no capital it’s
23:33not a problem but they’re also doing
23:35well in crowdfunding and neither one of
23:37those things is proof that is not accept
23:40that is just a small step in the long
23:42process but when you have other people
23:45around you like other investors not sure
23:48there’s retailers and then finally you
23:49look at the technology that’s available
23:51right now we can start trying
23:53relating and get a sense of wow no this
23:55is way too early you know this
23:57technology this way of sending these new
24:00behaviors this just isn’t going to make
24:02any sense next two years now you can get
24:05this perfectly every one of us is
24:06getting so much that you can at least
24:09put a bit of a framework around it now
24:10the founder you might have access to all
24:13the information but you can really start
24:14talking to investors that know what
24:16they’re talking about you can at least
24:17start looking at like Apple you know
24:20that you want to silence all the time
24:22and find them online google doing
24:24watched yes you can go to trade shows
24:26you can get a sense of where the market
24:29currently is and try to extrapolate okay
24:31in two years I think this is reasonable
24:34or maybe after late was also have a
24:37fitness tracker if you show up and apply
24:39to break with a wearable and the rest
24:41for general fitness but you must be
24:42kidding right i still see people to do
24:46that I’m gonna certainly can really
24:49relate you know you you mention
24:52crowdfunding we actually had an entire
24:54show or specifically crowdfunding and
24:57crowdsourcing and I know that the
25:00company just from looking at your
25:02website obviously finances some of these
25:05and I know that you offer accelerator
25:07programs where the companies are
25:09actually giving up equity but but you
25:12also charged per project in terms of
25:15cost so can you can you talk to us a
25:18little bit more about the type of crowd
25:21funding that you’re doing like what
25:23you’re doing to help the companies and
25:26and the the cost versus then giving up
25:29equity in the company that that in terms
25:32of how you’re getting paid
25:34yeah let me clarify a little bit so we
25:37started out only an accelerator so that
25:39was standard we give you cash and
25:41services and support for equity that
25:43there was a little bottle that everyone
25:45happens we then started realizing
25:47because super smart because we literally
25:51had team showing up with millions of
25:53dollars of crowdfunding money or
25:54outdoors in China and they were leaving
25:59bankrupt
26:00I’m not jumping about that people think
26:02it’s like really great example having
26:05great
26:0534 million dollars in pre-order campaign
26:08just walk out to going bankrupt last
26:09week you know I know that a night of the
26:11investors that gave them more mine and
26:14the fact that the company raised 34
26:16million dollars in pre-orders couldn’t
26:19deliver a product tells you that that’s
26:21what money is not the real problem so
26:23what we look at this we had seen coming
26:26to our offices really like the founders
26:28but they didn’t know what they were
26:29doing and they’re going to China money
26:31and they were coming back completely
26:33bankrupt and finally start saying well
26:35we’re dumb ones that we have teams
26:37walking in our door but they’re too late
26:39for our accelerator but we know that
26:41what they’re about to do they’re gonna
26:43do wrong
26:43probably do something about that so we
26:46started building our studio and our
26:48studio is services company like anyone
26:50would expect right now we have 17 a
26:53multimillion-dollar properly campaign
26:55probably heard of but they’re really
26:57just needing help with the physical
26:59product development manufacturing
27:01sourcing essentially China and we always
27:04have teams like we appreciate that you
27:06will learn what is the founder you have
27:08limited time and limited resources so
27:10how you said that is really really
27:11critical and actually says a lot about
27:13your ability to leave the business so if
27:15you’re the one that’s sitting there
27:17working on a prototype in a factory in
27:21China really ask yourself am i doing
27:23what’s right now you can outsource
27:24everything you need to understand some
27:26of it but we really think the best way
27:28to do that is to learn alongside expert
27:31what the experts do their job gets
27:33frankly you’re not the right person to
27:34be doing that china is always going to
27:36be better so we have a studio that
27:38supports on everything china-related
27:40validating develop materials and their
27:42concepts to help you engage your
27:44contract manufacturers making sure that
27:46you get your product on time on price to
27:49specification our last part of the
27:51business is our growth in distribution
27:53which means that can manufacture like
27:56our portfolio that for product shipping
27:58right now and we help them scale in the
28:01physical world scaling post crowdfunding
28:04post manufacturing into retail is a
28:06whole new challenge because it’s not an
28:09online sword shipping tens of thousands
28:11and thousands of products around the
28:13world and then what they get to retail
28:14make sure they sell through
28:16so there’s a whole set of challenges we
28:18look at three distinct life cycle stages
28:21and what do you need to evolve frankly
28:23as new problems will emerge and all we
28:26want to do that support that’s really
28:28exciting future that we see which the
28:30only way to do that is healthy founders
28:32exist you know it’s amazing i heard you
28:36actually say after telling us the
28:38example of the business that just went
28:40bankrupt last week at after raising 34
28:44million and the quote that I heard from
28:46you say was money wasn’t the problem and
28:50you know for for the average person
28:52hearing that in the audience the average
28:55startup the average student entrepreneur
28:58because there’s a lot of universities
28:59here within the Philadelphia in the
29:01tri-state area they’re probably thinking
29:04and saying to themselves GI need to
29:07raise this money money is the problem
29:09money is the issue and what I’m hearing
29:12very loud and clear from you is at least
29:14in the hardware space with a two year
29:17life cycle to market that that that
29:20isn’t the case can you can you just
29:22address that very very quickly here just
29:25because your mom that really kind of
29:28jumped right out at me when you said
29:29that
29:30yeah of course you need money but i
29:32think that people really get situated
29:35about fundraising i always tell people
29:37like look that you’re starting a company
29:39to get your name on techcrunch there’s a
29:41lot of the way to do that you don’t just
29:44have to raise millions of dollars around
29:48to do that so you have to really
29:50understand that you need money to run
29:52the company however if you’re trying to
29:54start a business with my favorite thing
29:56for hardware so it’s a little different
29:58you know eventually well-documented
29:59there’s lots of great programs mentors
30:02hardware is so holy undocumented for the
30:04most part and you’re actually going back
30:06in time terms of learning how to do
30:07business in the offline old economy so I
30:11was a founder is anyone on your team has
30:14anyone ever launched and mass
30:16manufactured and distributed physical
30:18product and ninety-nine percent of the
30:20time the answer’s no you have you
30:22actually help them sort of integrate
30:25that with so
30:26we’re because you know you know nowadays
30:28you know we’ve had so many different
30:30entrepreneurs come on with apps and
30:33there’s various downloadable software
30:34and you know and and and that’s the sexy
30:38thing and yet there’s a lot of
30:40opportunity in this particular space one
30:42of the main reasons why I wanted to have
30:44you are because it’s just so fascinating
30:46and not everybody you don’t you don’t
30:49see the big rush that everybody is
30:51moving into with software so how do you
30:54help the clients the customers the the
30:58startup sort of integrate both together
31:00so we put an expert at every single step
31:05of the process
31:06our company is very very senior in terms
31:08of the people we hire so every person
31:10sits over a particular stage of the life
31:12cycle so our head of software would
31:14support the integration our head of
31:16hardware supports the communication
31:18between the east west and the west and
31:20make sure that the whole process is
31:22overseen had a distribution and make
31:24sure that we’re thinking about the right
31:25price point when you’re actually working
31:27on the concept stage way before you
31:29launch I had a validation ensure that
31:31you’re actually building an audience of
31:32christ 1cr correct your actual launch
31:35strategy is going to make sure that you
31:36hit your numbers up distribution price
31:40points all the trade networks you have
31:41to build so we look at an integrated
31:43end-to-end process and software and
31:45hardware obviously have to come together
31:47with my knees is that software sold
31:50really well documented and even though
31:52it’s not perfect when it comes to the
31:53world we generally find that most of our
31:56founders comment fairly good baseline
31:59understanding of the software world so
32:01we’re not going back and doing a
32:02one-on-one but we need to have you know
32:06I i read your bio and there’s a lot of
32:10there’s a lot of stuff there too to
32:12unpack and we talked about not only
32:15business but balancing that with family
32:17and life so as i was reading through I
32:20thought to myself how does day actually
32:23balance running a business like drink
32:26when you’re actually been maintaining
32:28equity positions in 20 different
32:30companies across nine different
32:32countries ranging from b2b to SAS
32:35platforms to the number-one surfing web
32:37site like
32:39there’s only so many hours in the day I
32:41know that time management is really good
32:43for you but how are you doing this
32:47I mean it’s certainly not perfect but i
32:51think that you look at yourself first
32:54and actually running a series on media
32:56blog great day today on video is life
33:00hacks for entrepreneurs because i have
33:02to constantly evaluate this and i
33:04usually break my life down into quarters
33:07just like my businesses because most
33:09people get into their life and it’s a
33:11run-on sentence but it’s reality you get
33:14kind of graduate college and after that
33:16there’s no more milestones are kind of
33:19benchmarks just life forever and you
33:23know maybe you get married have a kid
33:24that kind of it but really you have to
33:27find a way to break down that long
33:28duration into smaller manageable chunks
33:31so it doesn’t become overwhelming and
33:33you also don’t always tell people that
33:35you have not made a decision is also
33:37making a decision you know that’s people
33:39generally just aren’t in tune and
33:41conscious about developing their life
33:43itself the world around them and just
33:45kinda like happens to that house you
33:47become self-aware
33:49I mean you know I i like i like the
33:51concept that you talk about you say
33:53break your life down into quarters
33:57you know I mean Here I am almost fellow
33:59that has a tax background alone taxation
34:02so I’m a finance guy and so I’m always
34:04talking about fiscal calendar years and
34:06things like that but you’re actually
34:08suggesting to do that with your own life
34:10and be very very introspective as to
34:16what’s going on to the point where
34:18you’re you’re kind of looking at it like
34:21from that perspective
34:23yeah i’m actually going to be releasing
34:25a framework that i created about 5-6
34:28years this year and polishing it up
34:29right out but it’s really basic you have
34:32to leave yourself first before you can
34:34already to anyone else
34:36I’m very serious about that if you are
34:38consciously controlling and dictating
34:41and and developing your own device then
34:43you don’t deserve to lead other people
34:45period and if you’re not gonna be
34:48serious about that then again but you
34:50shouldn’t be taking on that
34:51responsibility of being
34:52founder so for me being a founder of
34:54founders you know I build businesses
34:56it’s really critical hope that I think
34:59that super seriously and i just created
35:01a little breakdown frameworks like about
35:03this everyone wakes up and says I’m
35:05gonna lose 20 pounds but that’s not
35:07right but you’re not going to just
35:10randomly we’re talking about what you
35:11can do you let you know three months a
35:14small quarter of doing something like I
35:16will absolutely do some physical
35:19activity five days you can start there
35:22that might mean it might mean you do 40
35:24pounds but you can control is you wake
35:27up in the morning and doing what you say
35:28you’re going to do controlling the
35:29outcome in any capacity is really
35:32stressful and generally so all you can
35:34do is control what you can do on a daily
35:36basis which is where your kind of feet
35:39going today is sort of you find and add
35:41value whatever I do is clearly what I’m
35:44assigning value to and if i do what i do
35:48i have a chance of an outcome i want but
35:49i certainly can’t control that outcome
35:52so I think it’s a little bit of letting
35:53go of the control feeling at the same
35:55time creating a framework where you
35:57actually feel successful first getting
35:59case all the time feeling like I could
36:01be doing better I should be doing more
36:03that is really challenging to balance
36:05but I think you’ve got to work really
36:07hard at it because unfortunately don’t
36:09the world of piled up on you you know we
36:14we’ve really covered a whole lot just in
36:16that last three or four minutes I mean
36:18there’s there’s a lot of wisdom actually
36:21and in all the show notes are going to
36:22be back at Mitchell chatter dot-com /
36:26o03 side because you know what you’re
36:29saying is very deep now when you come
36:31out with this you’re saying its life
36:33hackers that you’re putting together i
36:36mean when because i’d like to be able to
36:39obviously have a link to that as well
36:41and maybe at the end of the show you let
36:44us know because i think that that people
36:46in the audience would which certainly be
36:48interested in that and you know so
36:52anyway yeah but I see if everyone
36:54follows me on medium is bn.com / at de
36:59de de de ta da why am I it’s usually a
37:02weekly series i’m running out right
37:04the part about five starts walking
37:07through the day-to-day basis from your
37:09culture changed my financial focus to my
37:13communications framework like all the
37:15things I’ve learned and things that I
37:17know how but I also i need to reassess
37:20them every quarter because i get off
37:22track to get off track for two years and
37:26find out that my health is completely
37:27together i need actually reassess you
37:30know regularly to make sure that I’m
37:32consciously deciding where I want to go
37:34and looking to get the priority this
37:35quarter and not you know when people in
37:39the audience are are looking to work
37:41with a company like yours like break
37:43they’d like to see that’s why I asked
37:46you about your accomplishments in 2016
37:49and as i was reading the one company
37:52glassy pro which is really one of the
37:55number one surfing you know websites out
38:00there in terms of technology startups
38:03can you tell us a little bit about how
38:05you got involved with them and a little
38:08bit about how they came to their success
38:09shore so there’s a little bit of a
38:14mix-up and in the notes here but I walk
38:16through it so number one website i’m
38:18referencing the inertia which actually
38:20has a seven-year anniversary of talk to
38:21the founder two days ago so that the
38:25founder of that company is now created
38:27the number one platform for surfing snow
38:29and outdoor lifestyle on the internet
38:31but going back to the company that I
38:34created myself about 25 that I folding
38:38and then the technology we met the
38:41founder of glassy pro in spain at the
38:45Mobile World Congress two years ago and
38:48he was creating already had created a
38:50platform of users and they were
38:53communicating and supporting each other
38:55and find the best search around the
38:56world and was the number-one top-ranked
38:58you know app in the App Store the whole
39:00thing and so I told him about my
39:02background in the company i created that
39:04hey if you want to go to bring a
39:06physical device
39:07I think you could really take over this
39:08market in a much deeper way and stop
39:11competing in the app store which is
39:12super challenging and really he fall
39:14back to the backpacking
39:16no one will ever hear about you again so
39:18you know he joined our program and we’re
39:20actually in the final stages of the rng
39:22of the of the final prototype before we
39:24pull the trigger on manufacturing on
39:25that because that’s the way for a lot of
39:28listeners are doing digital to think
39:30about is there a way to interact on a
39:33more intimate basis with your user the
39:36physical world additional world as i
39:39always tell people no hardware founders
39:41you know it’s super challenging but the
39:43risk-reward is really different
39:45so if you win you win really big if you
39:48lose you feel miraculously publicly
39:51where is it software if you fail you sit
39:55in the back of the app store and the
39:5610,000th rank or someone downloads you
39:59which is a great start but they don’t
40:00use the third home page and you know the
40:0314th folder on the third page of that
40:05folder and no one ever use your app so
40:07you have to understand the difference in
40:09the physical world you’ve got a chance
40:11on that person sees you and buy that
40:13product in their physical life now and
40:16it’s an opportunity to create a much
40:18deeper emotional connection and
40:21interaction and boil without user then
40:23software
40:25yeah I could see where the the you know
40:28the rewards are big but the challenges
40:30are so different and the the way that
40:33you handle risk and approach it and how
40:37comfortable you are with it is quite
40:38different you know you had mentioned
40:41about your involvement in earlier in
40:43your career with apple and I know that
40:46people are obviously very interested in
40:49how you you know became a founding team
40:52member of apple for therefore their
40:54global lot SMB channel maybe you can
40:57tell us a little bit about that and i’m
40:59sure you have some pretty interesting
41:01stories they’re sure so i was fortunate
41:04enough i started working on Apple was in
41:06college I how did them in college
41:11just because someone doesn’t have a job
41:13doesn’t mean you can’t make that make
41:15you a job so at Apple there was no space
41:18for me in college
41:20however i was just convinced that my
41:23college of that much the college Lady
41:25Mary in Virginia for my undergrad and
41:26masters and find attacks and also my
41:28match
41:29but I couldn’t understand why a
41:34university was going to sign a contract
41:36and require their users to have lenovo
41:40or IBM laptops when we were paying to go
41:43to their school and they want to support
41:44me as a Mac user and I just lost my mind
41:47I can’t believe it just started causing
41:49huge turn on campus and I went to talk
41:51to the CIO I talked to the Dean of the
41:55School of Business School I was just
41:57super frustrated and so I kept how the
41:59Apple because i heard they have this
42:01thing called caller is your campus
42:02reference college prep program that you
42:05can actually work for a while you’re in
42:07college obviously that’s not like you’re
42:09in job at that line so I just how did
42:11them they kept saying what we don’t have
42:13a place to place so I kind of gave him
42:15an ultimatum and I said look either
42:18you’re gonna give me a name card
42:19business card
42:21I’m doing this anyways and help me look
42:23okay we can’t pay you but we’ll put your
42:25foot down but we can’t head count your
42:29card we can get you all the gear and hey
42:31you out here just getting to work
42:33anyways and so I went around and I was
42:36finding out is actually iTunes
42:37University and the whole podcast fairly
42:41the second way that got signed up but i
42:45guess i just put enough pressure on the
42:47system bunch of different parts
42:50university decided separate contracts to
42:52the point with the whole you know he had
42:53a fold and finally find out that was
42:55kind of an apple I cool this isn’t
42:57making stuff up and put me on the
43:00payroll at that point and then let me
43:01run with it a couple years
43:03expand my territory actually joined the
43:05global advisory board for the VP John
43:09couch education colleges myself so that
43:13I get some exposure but unfortunately
43:16there wasn’t any way to transition from
43:18the college program into the corporate
43:20programs that’s another thing for you
43:21know students don’t get down to walk if
43:24your past doesn’t just smoothly find its
43:27way like perfectly dream job for 22
43:29against number don’t know what to work
43:37and get through that and so instead
43:40planing and hoping that Apple like the
43:43top rated in the top five the world and
43:46the program and I couldn’t find a way
43:48into the corporation’s she’s been saying
43:50on their box not make that easier but
43:53either way I don’t care so i got my
43:55heart my master cross-country position
43:59on the couch i just showed up like well
44:02I’m gonna be here anyways
44:03and then you know four years later funny
44:06enough i ended up going back and that’s
44:08what the next chapter went where the
44:10small/medium business channel much
44:12longer story and do if you want but I
44:15got lucky enough to have the kind of
44:17dream moment which goes back to the
44:20intuition recognizing patterns talked
44:22about earlier is when you when you’re
44:24looking at your career you’ve got to be
44:26patient but you also have to wait and
44:28watch the pattern when you see it you
44:30have to take the shot
44:31so you know I was probably about 20
44:33Section 107 getting interviewed people
44:36at Apple that made no sense like their
44:39titles were waitress senior their
44:42histories were way to senior to be
44:44talking to me and so I finally just call
44:46them out on it and i realized that i
44:48stumbled into something much bigger than
44:50I anticipated what I thought it was
44:51interviewing for ended up you know
44:54having interviewed for a brand new
44:55division that was unlisted no one’s
44:58talking about it i didn’t have a title
44:59for the first time it was very special
45:02and so would you would you say that that
45:05was like serendipity would you say that
45:08that was locked with you
45:09I mean obviously you have to be at the
45:11right place at the right time but you
45:13know we’ve talked to other entrepreneurs
45:16before and I know that you have to
45:18obviously make your own lock but things
45:21really needed to sort of lineup for you
45:23to actually be in that meeting is this
45:25what you’re talking about the the
45:26Entrepreneurship yeah so yeah that is
45:29the channel it is that the same one with
45:32Guy Kawasaki with the art of the start i
45:34mean is that I mean is that the same
45:36type of area that he was in or is this
45:40something totally different
45:41no this is different this is an
45:43opportunity and because your concept of
45:46a i completely agree
45:47I i really really believe that if you
45:51want to look for
45:52the world you will have a pile of crap
45:54on your cable all day long right life
45:56will not work out if you can find the
45:58positivity and continue to do the grind
46:01you have a chance that i was like being
46:03in motion is the most important part
46:05which are stirring up opportunity to
46:07think about when the storm comes over
46:10the ocean the water gets really murky
46:12all the sand and sediment from the
46:14ground and mixed up and thrown back into
46:17the water and i always think about that
46:19is the more emotion the faster-moving
46:21more i’m doing the more I’m getting out
46:23there the more opportunities are going
46:25to come across my plate and have that
46:27Apple opportunity not happen i wouldn’t
46:29just that my god well that’s it I
46:32would’ve just kept going i saw that
46:35opportunity i could see it and I just
46:37realized it’s like magic by people for
46:40this title what’s going on
46:42wait I can’t read this no one knows
46:44about this and just ask them and I
46:46realized wow this is actually pretty
46:48special and I didn’t know what was going
46:50to the colony and there’s 52 thousand
46:54people in a billion-dollar business I
46:55mean it was pretty successful might have
46:59known that i couldn’t have known that
47:00but I just do that i was getting a shot
47:02that was way above my age or ability
47:05everyone is super senior Kansas to kill
47:09myself and see what came of it and ended
47:12up doing all right for me you know that
47:14that’s awesome you know I i read in your
47:16bio that that you talked about you know
47:20some of these these world-class founders
47:23and venture capitalists and incubators
47:25and accelerators that you actually were
47:27working with in helping over at Apple I
47:30mean are these some some names that
47:32we’ve heard of I mean can you can you
47:34talk to us a little bit about that
47:35because people are interested in not
47:38only that but what you kind of did and
47:41what you learned through that whole
47:42experience as well
47:44sure so the first two partners that have
47:47helped me figure out a theory more
47:49building a small business channel that
47:51there’s a lot of repetitions actually
47:53have a foundation that everything I do
47:55now is I kept seeing founders in
47:57Francisco that were making the same
48:00mistake and these are not found that you
48:01have heard of meetings are you know jack
48:03dorsey swear this is jammer
48:05dropbox Airbnb twitter but they were all
48:09my customers
48:10i I didn’t see it like a little bit i
48:12saw all of it and what were some of the
48:15common thread of some of the things that
48:18all of these very well accomplished
48:22people in their own right but yet you
48:24you could kind of see the common thread
48:26of the same types of things repeating
48:30over and over over again almost like you
48:32said patterns that you could see in your
48:34own ways but patterns in their lives
48:36that they were doing that wasn’t quite
48:38right well so I don’t know about from
48:42the personalized for that was quite
48:43young when I was saying that you know
48:45are just so good at what they’ve done
48:48with it comes out my scores but i was
48:50looking up from the operation which is
48:52my passion both from the people fighting
48:54operations as well as assistance I’d of
48:56operations so i was looking at the
48:57inside first and then how is affecting
48:59the actual employees that rose pattern
49:01the financing i was looking at that
49:04thinking man I know all their investors
49:06and I know all these the startup company
49:08and I don’t know why they’re not talking
49:10and sharing those because they’re being
49:11shot box right now get the backside of
49:15the dots and so going to investors so I
49:19started out with first round capital and
49:21true ventures your treasures of the
49:23first investors that I just said guys
49:28I’m seeing all of you know all your
49:31investments are coming to me anyways I
49:33would love to sit down and figure out
49:34how can Apple play a role and better
49:36support you and the startup that
49:39building our platforms make apps and use
49:41our technology so i started rolling with
49:43them and you know all those literally I
49:46don’t think probably an investor or
49:48start with the valley that wasn’t my
49:49customer or partner so all of that like
49:52no other startups kleiner perkins mad
49:56Ron freestyle I unit they were our
50:00partners and what were some of these
50:02common errors or mistakes operationally
50:04since that’s that was your passion I
50:06mean that you saw that you everything
50:08convey to some of the other people that
50:11that it was going to be helpful to you
50:13pointing at that stuff out to them so
50:16going back to pattern recognition it was
50:18very specific
50:19this particular vertical so when you’re
50:22talking about vc-backed businesses a lot
50:24of a lot of people don’t understand
50:26especially the startups will you decide
50:28to pick going your mom and dad asking
50:30for a loan
50:31crowdfunding and your pre-orders for
50:33going to venture capitalists which
50:35remember they’re taking money from
50:37someone else
50:38it’s not their money they want to
50:40essentially a bank took money and
50:42they’re loaning out money to you and
50:44they need to get a return so you’ll
50:46never get that confused sounds don’t
50:48understand the economics of venture
50:50capital and the end up getting into
50:51trouble but if you think about the
50:53pattern recognition startups that are
50:55building with vc dollars are attempting
50:58to build a hundred-year company in under
51:02ten years that’s so what you’re doing is
51:06you’re breaking all conventional wisdom
51:08of what it means to build a really
51:10durable and sustainable business over a
51:13hundred years and most don’t last 25
51:15years more like a hundred but when you
51:17see that you see these businesses that
51:19are let’s say you know where something
51:22for example so i wasn’t squares office
51:24with their hands altering their first
51:26you know card readers and they were down
51:29in third mission and the new in the
51:32temperature chronicle building and there
51:34was the two co-founders literally and
51:36shouldering like Jack 14 devices
51:39themselves right he’s the founder
51:40Twitter and he said in there and working
51:42on hand making their own little devices
51:44and I i was laughing thinking this
51:48company is going to blows
51:50first off it’s Jack’s secondarily I just
51:53saw a huge opportunity they can be a
51:55huge market and what does that mean for
51:58the business and you go from having four
51:59people six people and then a year to us
52:0250 60 years where you have 300 and your
52:05for you have a thousand that is not
52:08normal and that’s what’s trained on
52:12every dimension of the business not just
52:14the operation and the physical card like
52:16you always start end up flipping offices
52:19every year that their sign funny to your
52:21leases and that breaking pitch you
52:22locate all the way to our Airbnb was
52:25calling your internet japan with broken
52:27so silly but
52:29this is that you just see happening over
52:32and over again and I’m like okay look
52:33you guys learn from each other because
52:36these types of behind-the-scenes
52:38operational lessons are not sexy and
52:41you’re here to go tell your VC that you
52:43don’t know how you and so we’re going to
52:45create a system that helps you scale
52:47your business over 10 years it doesn’t
52:50break the system because you’re spending
52:53money everywhere your employees like
52:56this is not smart and so that was kind
52:58of my pieces and that thesis has proven
53:02to be far more effective in the hardware
53:04world in the software world taking that
53:07same mentality developing brain
53:09interesting yes so you were able to
53:12obviously use the delete from Apple 222
53:16the internet of things with hardware in
53:18terms of where you’re at now that’s how
53:20you were able to sort of make the
53:21transition you know because I’m thinking
53:24okay how did you get from Apple to where
53:25you are today but it seems as if you’ve
53:29used those life lessons that you learned
53:32there to what you’re doing now would
53:36that be accurate
53:37yeah I i learned my personal passion for
53:40physical devices with that I don’t know
53:42any pc that I ever fell in love with but
53:47I remember my first mac very clearly and
53:50I remember most by Max and both my songs
53:53and my iPad and Apple watch and all the
53:55things i fell in love these objects but
53:56I didn’t have a background in the
53:59physical world so I knew that in order
54:01to learn that I had to leave San
54:03Francisco because if this trend we’re
54:05going to be true in my operations
54:06ability of my ability to develop leaders
54:08and founders built great culture and
54:11businesses that’s gonna actually applied
54:13the physical world
54:14I can’t sit in san francisco and read
54:16about it you go to China and so my wife
54:19is a great opportunity fund able to
54:22transfer her she never seen it frankly
54:25it never actually been here but she said
54:27you know I’ve always wanted without
54:28their what you want to do that within 24
54:31hours we are packing we were on the road
54:34and meaning Francisco and tell the tale
54:37end because I knew that this windows
54:40change that
54:41the world is common and you’re not going
54:43to learn that sitting in philly or New
54:45York or Chicago or la San Francisco you
54:48need to be here so been here almost
54:50three years in march and i would say
54:52with all humility if anyone thinks that
54:55they understand how this one works after
54:57three years they’re incredibly
54:59artistically i feel like i am just like
55:02colin has a very I mean we know a lot
55:04more than a lot of people but you know
55:06my boundaries his family’s been in China
55:08for 40 years manufacturing distribution
55:11right so I don’t know about but i’m
55:14still learning for sure when it comes
55:16you know you know it’s amazing before i
55:19was going to jump in here to RR
55:21fastpitch which is our next our next
55:23round i was going to say it just seems
55:27as if you have to have that certain
55:29personality that you’re willing to sort
55:31of up and leave with you in this case
55:34with your with with your life to go all
55:36the way across the world 222222 a
55:40different part of the region of the
55:41world whether it be hong kong china and
55:45but from that you’ve learned quite a bit
55:48and you continue to learn and realize
55:51that you really don’t know as much as
55:54you think you know because you know
55:57there’s all these different cultures and
55:59then and the globe is is so huge
56:02yeah it’s not right or wrong and it’s
56:06just different strategy but i know that
56:08there are certain things that you cannot
56:10learn by reading you cannot learn how to
56:13deal with business deal negotiation in
56:15China reading the book that tells you
56:18about China how to work you can’t learn
56:20about the cultures and how you do
56:23business in the middle east by sitting
56:25and Texas it’s not gonna work but you
56:28have to actually go immerse yourself in
56:30the culture and that’s again up to you
56:32if you think that’s important or not but
56:34I do know what’s going back to our
56:36earlier topics that as the world gets
56:37smaller as become more global this will
56:41be something that makes you not
56:43competitive if you don’t do it if you
56:44sit in your town and you don’t travel
56:47and you don’t go stretch yourself and
56:49get uncomfortable
56:51ok maybe in 30 years like you’ll be able
56:54to stay and you know you’re sober
56:57Avengers do that job that’s ok maybe but
57:00i know that people in my family are in
57:02their 50 is and they’re getting their
57:05lives disrupted already they are
57:07competitive anyone that’s scary
57:10and if you’re in your twenties or
57:12thirties and you still haven’t traveled
57:16or you haven’t gotten out of that
57:17comfort zone and you think you’re going
57:19to just sort of like a duck and cover at
57:22the globe comes closer to you and you’re
57:24just going to be able to be fine to the
57:26next 30 years problems are living longer
57:27to you’re going to be working on your 75
57:30or atl not retired 565 you need to at
57:35least know what’s going on so do get a
57:38flight you know what first flight to
57:40China right now like five dollars and
57:42just so don’t be there and see how it
57:45feels and get uncomfortable a little bit
57:47question what you know there’s so many
57:49value bombs and what you just said right
57:51there and I know that everybody in the
57:53audience is going to be listening up to
57:54it plus the show notes will be back at
57:57my blog so in this round the fastpitch
58:00these are like really quick questions
58:02with some fast answers it just kind of
58:04gives some additional insight in you as
58:07a person
58:08it’s sponsored by audible which of
58:09course is an amazon company people can
58:12head on over to Mitchell Chad row.com /
58:14audible i mean i love bulk sure you love
58:18books to write although you know you got
58:21it not only read it but you got
58:22obviously do it they have a hundred
58:24eighty thousand titles you know you can
58:27sign up for a free trial you get one
58:30free download so you know people head on
58:33over to Mitchell chatter dot-com /
58:35audible can you tell us they like a book
58:39that you really thoroughly enjoy it
58:42could be a business book a personal book
58:43which is something that that you can
58:46recommend to the audience
58:50listen to audiobooks far more than I
58:51read because i can get more childlike
58:53but one of my favorite things that
58:55people watching the founder is get them
58:57this book which is the hard thing about
59:00hard things I listened to that on autumn
59:03amazing and if you don’t know much about
59:06sales and marketing which if you don’t
59:08get what you have a choice
59:09so you better learn that there’s a
59:11really really great old book that will
59:13last today called influenced by calvini
59:17so i said to my favorite
59:19well that’s also know great how about a
59:21quote or mantra that that is basically
59:24either motivated or inspired you or just
59:26something that you kind of lived by wow
59:31so many i’ll flip it on you and I’ll say
59:34from the hustle 5 i’m all about the work
59:37so at the end of the day you know I was
59:40a lot of motivational people just know
59:41one thing that the world doesn’t give a
59:43crap about you
59:44so you know this is probably the quote
59:51yeah right that’s the reality but i’m
59:54here to make it more and more positive
59:57don’t vote like get up get started off
60:00literally there’s no one in the world
60:02sitting around feeling bad so what’s
60:04going on in your life yet but I also for
60:08me all the pressure on myself what you
60:09said earlier all things to try to manage
60:11i really like burn a brown it’s a lot
60:14about you know their emotional
60:15intelligence the introspection that
60:17helps you balance these things and she
60:18was a great quote that I repeat myself
60:20every single night to make sure that
60:22after all the stress and everything else
60:24don’t let it get to me is that no matter
60:26today no matter what was done or what
60:29was left undone and that I say that to
60:34myself every night because I I can’t
60:36turn my brain off more or less
60:37overwhelmed with i just–literally get
60:40anything going in my head I have to
60:42remind myself that it’s just another day
60:44tomorrow and I no matter what I have to
60:48be happy with myself no matter what that
60:50check personality accomplishment
60:51whatever is stacking up so i said to
60:54myself about every night really cool
60:56that’s that’s very cool day how about an
60:59app that really helps you in business or
61:02your personal life with family or just
61:05an app that you can recommend to the
61:08audience
61:09I mean just keep straight on Evernote
61:12addict
61:14ok whatever whatever you need to get out
61:17of your head both times it’s not nearly
61:19as important or that ingenious as you
61:21think it is the fastest way to get it
61:23down and the last thing I stay on that
61:26is right now trying out new platform so
61:28a scale by Justin Collins a new platform
61:32I just in my ma with them and one day
61:34it’s a new way to communicate and
61:36connect and learn from some of the most
61:37influential people in the technology
61:39world so I definitely get on a scale and
61:42definitely feel free to add me at beta a
61:44very very cool
61:46two more in this fast round how about
61:49something that you’ve purchased that’s
61:52the most impactful but it actually
61:54caused under of hundred dollars who my
62:00toys are not shaped you know that this
62:05question kind of goes to those
62:07bootstrapping entrepreneurs startups
62:10people who need to be obviously
62:12extremely resourceful to to let them
62:15know that you don’t need to spend a lot
62:17to get a lot and you know and so I think
62:20it’s a fun question but but but again it
62:25kind of let you know you know you know
62:28that the one guest he he rescued a dog
62:31and the dog only cost 25 bucks and yet
62:34the dog is worth millions to him and so
62:36you know that the point the point of
62:39that was that he didn’t need to spend
62:40hundreds and thousands of dollars on the
62:43pet in order to get something you know
62:46that had quite a bit of value i
62:49unfortunately my last I don’t have any
62:55probably toys or physical things like
62:57that are years that are looking around
62:59my house but actually everything but
63:01that’s the conversation we’ve been
63:03having if you don’t have a passport
63:05spend a hundred dollars on the passport
63:07okay fair enough that’s good that’s good
63:09and and the last question in this round
63:12is a fun fact about you that maybe not a
63:15lot of people know about but it will
63:17certainly tell the audience a little bit
63:19more about you
63:22just the other day to as you get older
63:25people may or may not know your
63:27background i have been a musician my
63:29whole life and I just found out i can’t
63:32believe i didn’t know this that one of
63:33my album is actually in spotify itunes
63:36for a long time we trained pianist I’m
63:39gonna producer and DJ and hold and so
63:42what’s that album called I don’t tell
63:46you come on we gotta we gotta put a link
63:49to it come on you know people are going
63:51to be downloading that day really know
63:54how to get the world he’s often anyways
63:56but just look for my name
63:58okay fair enough in this in this wrap up
64:03around you know it’s sponsored by
64:05snapping so people that head on over to
64:07Mitchell Chad Reed calm / snap this is
64:11for people who need graphic design
64:14without actually hiring a graphic
64:16designer so for example for all of my
64:19blogs all of my posts you know for my
64:23website
64:24you know I need to obviously resize all
64:26my graphics for all the various
64:28different social media for that it snaps
64:31we actually had Christopher gamer on our
64:34show 027 who’s the founder of snap great
64:37company great people behind the company
64:40I certainly recommend it my my audience
64:43should head on over to Mitchell chatter
64:44dot-com / snap at hand and start your
64:48plan today
64:49sign up for our listen up email list get
64:52all the latest resources advice
64:54practical tips and show notes at
64:56Mitchell Chad row.com / sign up if you
65:00have been a regular listener of the
65:01listen up show we want to thank you so
65:03much for all of your support and please
65:05consider giving us a written review on
65:08iTunes by heading over to Mitchell Chad
65:10row.com / itunes it really does helping
65:14carriage inspire and motivate others to
65:16start up and allows them to also find
65:19the resources and the advice that they
65:21need to get started so again that
65:23Mitchell shadow dot-com / itunes it
65:26literally will take two minutes for you
65:28to give a written review and I really do
65:30a pre
65:31they enclosing for this wrap-up can you
65:34tell the audience three-name takeaways
65:38that you can provide to us to wrap off
65:40first and foremost it’s all about your
65:42own personal responsibility so be
65:44yourself take accountability and
65:46responsibility for every day every hour
65:49and don’t try to blame anything on
65:51anyone else again the world just doesn’t
65:53care
65:54I would say is that you have to be open
65:57to the patterns and sometimes you may
66:00not have that perfect plan for that
66:03perfect job so be open to the search on
66:06your life because sometimes you just
66:08have to be floating that actual pattern
66:10number with number three I would say is
66:15absolutely make sure that if you haven’t
66:18found the thing you love to do
66:20don’t give up hope on that make sure to
66:22put yourself in position three and
66:24motion like i said earlier and you will
66:26stir up the opportunities but sitting in
66:29your home or your dorm room on the couch
66:30or the daily 95 it’s very unlikely that
66:34the passion for whatever you want to be
66:36doing is going to randomly fall into
66:38your lap he’s gotta get out there put
66:40yourself out there and start doing stuff
66:42and how can people stay in touch i know
66:44that we’ve talked a little bit about it
66:46but but maybe right here in a pissy kind
66:49of way
66:50although all the quick ways that people
66:52out there in the audience are going to
66:53stay in contact with you and and and
66:57continue to follow you and and reach out
66:59to you as well if you want to talk when
67:01I want fast and on Twitter beta baby ETA
67:04baay if you want to ask me a question
67:06video responses on bail application in
67:09Iowa ask away all the same thing today
67:12if you want to read recommend comment on
67:15articles i right there on media also day
67:19today or you can search my name is a
67:20mclaughlin on Forbes contributor there
67:23and that ultimately I want facebook
67:25there but generally speaking at the
67:28place was great interviews like this i
67:30want to talk to people so please reach
67:32out and actually messaged me don’t just
67:34follow and like that’s great but
67:35actually I was going on in your life too
67:38hey this is the first time that were
67:39speaking and I know that
67:41I have thoroughly enjoyed it i am so
67:44thankful that you came onto the show I
67:46really got a lot out of it i know the
67:47audience will as well and we’re
67:50certainly going to keep in touch where
67:51we’re so happy that you’re part of the
67:53listen up show family and I just want to
67:56thank you again wholeheartedly for
67:58coming on and really talking to us about
68:01so many important things and also
68:04providing so much advice and wisdom and
68:06resources for the audience we’ve got a
68:09lot out of it we want to thank you again
68:11my pleasure i really had a good time
68:13thanks so much hey you take care we’ll
68:15be in touch real soon alright thanks
68:17take care bye now be good
68:20[Music]

Healthcare Wearable Technology Solutions Asthma Management Nick Delmonico Strados Labs Show 031

Healthcare Wearable Technology Solutions Asthma Management

Execute, take action, start today! The first show MitchellChadrow.com Mitchell Chadrow's Podcast Listenup Show Podcast!

You can download the podcast to your computer or listen to it here on the website, Click here to subscribe in iTunes

Developing smart asthma management patent pending technology.

You can subscribe to the show on iTunes several platforms, you can also subscribe to the blog and get all of my material (blog posts and podcast) by clicking here.


 

Nick is developing a smart asthma management patent-pending technology. He is currently getting a Masters of Business Administration in Healthcare at the Fox School of Business and Management Temple University.

Sales and distribution channels and the strategy for building it out in the future and raising money, pivoting from the initial design, how to commercialize the device and various go to market strategies.

Targeting end-user customer and making key changes to the device based on consumer feedback.

With the original prototype, he needed to pivot and made changes. His team consists of a biomedical engineer now an MD, neurologist at Jefferson Hospital and lead technologist. A software engineer from the hardware side.

It's not a diagnostic test like sounds of your lungs for asthma management. Nick did online asthma surveys as well as in person. Determined that a necklace with an adhesive type of device was not going to work but a chest strap idea would work better as it was able to stay clean so the process of iteration and leverage and focusing on what the end user really wanted was key as they came up with rapid prototyping.

  •  Patenting the technology and raising money

Strados came in second only for Nick to lose to his professor.

Ellen Weber is the Director of the Temple University Institute for Entrepreneurial Innovation who work with other venture capital firms like Benjamin Franklin Technology Partners , Robinhood, Mid-Atlantic Ventures who work with startups

We discussed the prototype and patent as well as  how the company will get the technology to their end users, distributing and selling the technology.  They anticipate having the provisional patent filed by the end of this year.  Once the provisional patent has been filed  with their end claims which give them first file rights if someone else comes up with the concept the first to file has a better claim to the idea.  Strados Labs will have 12 months to spend finalizing the software and hardware algorithms -

When dealing with a patent it's important to note what a company can say and what they keep secret

It comes down to what is proprietary or internal v what they can mention to the public.  We know the company is developing a wearable device but they keep the sound capture feature private.

Their goal is to provide extra value in this narrow niche. Focus on those end users to help them manage their asthma, provide advice and feedback from the device,

survey done signs symptoms of an asthma attack of wheezing - sometimes wheezing starts slowly in lungs and you try through your own will to identify those signs and alerting them it's not a diagnostic but alert something is happening to them alert to phone and message to parent or someone else take inhaler stop exercises breath deeply its an alert monitor track and monitor on back end but focus now is on front end - how they are bringing in people to do research - test it - market service - white papers how asthma needs to be better managed and that 2/3 can be prevented by not medicines but just managing it better - market research targeting asthmatics online forum Reddit American asthma foundation aaii - healthcare, MBA take quick survey for feedback to validate get qualitative information on people's condition some type of technology to better manage people's disease work with asthma research in NY how environment effects and how such technology would help doing focus groups up in Harlem pre-testing phase using this technology get feedback early then use it for testing.

We asked about some of the challenging moments the company has faced as a new startup and Nick being a business leader  - they are entering a high regulatory, high barrier, high capital intensive business and also managing individuals.  Nick working his day job and doing this at night and on weekends also while he was in California during the summer while the doctor neurologist was back in the Philadelphia area.  Nick had to find the time and make sure he was communicating effective and quickly needed to find the right people and manage the work stream and also maintain his current job.

What wanted to know what contributes to his success - he said a relationship with his co-founders the neurologist and although Nick is the face of Strados Labs his co-founder makes things smooth when running ideas past him or acting as a sounding board for being a devil's advocate which balances the good with the bad.  Its good to be positive but things are not always rosy so his co-founder is a good balance keeping him well grounded.

Insurance reimbursement of the device for asthma management.

The problem is that once a year people with asthma can be admitted to the ER with cost of $2500 and where it costs $20,000 a device for their solution $150 bucks can reduce risk to go to hospital and reduce those high-risk individuals by 60% less reduce asthma and reduce potential death or going to ER.  The plan on having the insurance company reimburse  through ins company and promoted by doctor hard time managing we will provide you pluma ware system reimbursed end users, not the person using it but doctors new business development force
Build a relationship with insurance area health technology comp who work with Medicaid and chronic diseases - use reminders to become more engaged with asthma management to leverage their device to partner with health systems improve health understand educate them innovation partnership spoke at hackathon non-hackathon sponsored by BCBS.

Advice for others he gives - to startup overwhelming most common mistakes students or preventing them from starting - coming up with a rockstar idea best idea and they stop if they think it's not the best - for him ideas change so much focus on problem and improvement upon those issues or problems - he started with wanting to solve the problem now is developing the solution focus on problems v ideas -

Recurring themes resources - help - people here to help - at top-ranked entrepreneurial program Philadelphia meet ups network events talk to them about ideas - Philly startup leaders - new in CC - new tech meetup Philly - leverage through temple Univer entrepreneur network summer studio incubator reach out to those you know in entrepreneurship - intellectual property hardship creating things v creating apps people want to invest in electrons v atoms -

Fully functional is challenge for things apps that is coding but here you have to build it and test it so more difficult to get funding federal grant challenging to get through Kickstarter IndieGoGo developing things medical devices - if he knew about these resources 6 months ago - doesn’t want to fail but will now know them federal funds natural science foundation SBIR funding process dept of engineer institute of health all have funds for small business who want to start businesses

who will help him write the grants trying to leverage innovation partnership through the small business association dev a tech national science foundation and they like your idea resources pre-proposal key components of stuff and how to develop commercialization of it
Voucher stipend to write grant, someone, to help SBIR agency to send to -

Lightning round sponsored by audible.

A book Nick recommends - The Alchemist, written by Paulo Coelho de Souza - It's about an individual on his journey to find a treasure. His entire motivation as a shepherd is to be rich but he goes on journey not where you get but how you get there he ends up the same - for him, it's about the journey what he has learned and get to place he wants to go and help asthma

Three take-aways from show:

 

 

Don’t be afraid to ask questions even as a new entrepreneur just talk to people about your idea to many people get caught up it being secreative or having to much concern about signing NDA, your idea will get stronger if you talk more about it; Focus on who you are working with, some people want to work with their friends but be careful who you work with and who you bring onto your team they might have a certain skill set but focus on the person beyond just their skill set and make sure it's aligned with your vision; Have fun it's an exciting journey, it's risky but just be smart.

Last show:

To listenup to our last show with Steve Bazemore and get all the show notes about career advice, personal development head on over to mitchellchadrow.com/show030

 

Strados Labs is incorporate his business an LLC in DE but operates in PA in an incubator space at temple


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