Startup Ignition Podcast Podcast Por John & Tyler Richards arte de portada

Startup Ignition Podcast

Startup Ignition Podcast

De: John & Tyler Richards
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 Father and son team John and Tyler Richards — veteran entrepreneurs, venture investors, mentors, and educators — discuss all things entrepreneurship and venture capital.Startup Ignition Academy, Inc. Economía Gestión Gestión y Liderazgo Liderazgo
Episodios
  • Andrew Smith: Building a Recession-Proof Empire (Food Industry), Private Equity, Scaling Startups

    Andrew Smith: Building a Recession-Proof Empire (Food Industry), Private Equity, Scaling Startups
    Jun 13 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler sit down with Andrew Smith, the managing partner of Savory Fund and a serial entrepreneur defined as a true "problem hunter." Andrew shares his incredible journey, starting in the tech world during the dot-com boom with a revolutionary streaming media company. He details the highs of a near-IPO and the crushing lows of the bubble bursting, and how he pivoted to create two more successful tech companies by solving problems he encountered in his own life. The conversation then shifts to his unexpected entry into the restaurant industry, sparked by his wife's dream, and how the resilience of their first Kneaders franchise during the 2008 financial crisis revealed a massive opportunity. Andrew explains how he applied sophisticated, tech-style management to the food sector, scaling his operations from a single restaurant to a massive portfolio, eventually leading to the creation of the private equity firm Savory Fund.

    (00:00:00) The Dark Nights of a True Entrepreneur
    (00:02:11) Introducing Andrew Smith: Operator, Investor, and Problem Hunter
    (00:04:03) Icebreaker: A Food & Tech Brand Blitz
    (00:09:02) First Venture: Putting Jaguar Commercials on the Internet in 1998
    (00:13:53) The Dot-Com Bubble Bursts: Missing the IPO Window
    (00:17:42) Building and Selling Two More Tech Companies
    (00:20:46) A Leap of Faith: “I want to open a restaurant.”
    (00:23:25) Surviving the 2008 Crash and Discovering the Power of Food
    (00:28:26) Scaling Up: From One Kneaders to 50 Locations
    (00:30:57) Owning the IP: The Shift from Franchisee to Franchisor
    (00:34:15) Navigating the COVID-19 Pandemic as a Restaurant Operator
    (00:36:19) Why Companies That Survive Recessions Emerge Stronger
    (00:38:33) Why 2024 Was a Harder Year Than 2020
    (00:43:54) The Birth of Savory Fund on a Racetrack
    (00:47:31) Why Now is the Best Time to Invest
    (00:50:33) Applying Tech Sophistication to a "Mom and Pop" Industry
    (00:51:33) What Makes a Promising Brand Worth Investing In
    (00:54:13) The One That Got Away: A Missed Opportunity with Crumbl
    (00:56:24) A Lesson for Every Founder: Good Times and Bad Times Will Pass
    (01:01:04) Final Advice for Young Entrepreneurs
    (01:02:39) The Danger of Skipping Steps

    Join our online academy for free:
    https://startupignition.com/academy

    Apply to be a guest on the pod:
    https://startup-ignition-podcast.paperform.co/

    Follow John & Tyler:
    https://x.com/trich_
    https://www.linkedin.com/in/johnrichards/

    Subscribe on YouTube:
    https://www.youtube.com/@StartupIgnition

    Follow on X:
    https://x.com/startupignition

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    #AndrewSmith
    #SavoryFund
    #Entrepreneurship
    #StartupStory
    #VentureCapital
    #PrivateEquity
    #RestaurantIndustry
    #Tech
    #BusinessGrowth
    #StartupAdvice
    #ProblemHunter
    #Swig
    #Kneaders
    #MoBettahs
    #Via313
    #DotComBubble
    #FinancialCrisis
    #BusinessStrategy
    #StartupIgnition
    #JohnRichards
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    1 h y 5 m
  • "This Is a DEAL KILLER": VC's Pre-Seed Due Diligence Checklist, Cap Table, Rule 83B, Founder Equity

    "This Is a DEAL KILLER": VC's Pre-Seed Due Diligence Checklist, Cap Table, Rule 83B, Founder Equity
    Jun 5 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards dive deep into the world of pre-seed due diligence. They outline the critical checklist they use as venture capitalists to evaluate early-stage companies, providing invaluable insights for founders preparing to fundraise. The discussion covers essential legal and financial structures, including the importance of a C-corp for QSBS benefits, the deal-killing implications of messing up the Rule 83B election, and how to maintain a "clean" cap table. They reveal common red flags like 50/50 founder splits, undocumented equity promises, and misaligned deal terms. Beyond the paperwork, they emphasize the necessity of rigorous business model validation and a deep understanding of the competitive landscape, explaining why a lack of proof is an immediate deal-killer.

    (00:00:00) The common mistakes that make a pre-seed company uninvestable
    (00:00:46) The Rule 83B test: How to know if you have the right startup attorney
    (00:01:00) Why raising too much money at too high a valuation is a nefarious problem
    (00:03:04) What's the one book every entrepreneur should read?
    (00:04:24) Favorite productivity tools and the rise of AI as a co-pilot
    (00:07:19) An OG take: Is AI making us lazy, or is it just the new calculator?
    (00:10:17) The most memorable pitch: One great example and one disastrous one
    (00:15:04) The one piece of advice John and Tyler would give their younger selves
    (00:16:48) Learning not to be intimidated by the "titans of industry"
    (00:18:29) What's next on the adventure bucket list?
    (00:20:13) A challenge: 100k followers and the team goes to the Masters
    (00:25:20) Breaking down the pre-seed due diligence process for investors and founders
    (00:27:31) Why a C-Corp and the Qualified Small Business Stock (QSBS) exemption are crucial
    (00:32:22) The critical importance of the Rule 83B election and founder vesting
    (00:38:54) What is a "messed up cap table" and what are the biggest red flags?
    (00:41:17) Why 50/50 founder splits are a deal-breaker for investors
    (00:43:29) The problem with non-operational shareholders on the cap table
    (00:45:33) Why debt must be handled before an equity investment
    (00:48:10) Proving your business model: Why validation efforts are non-negotiable
    (00:51:50) The #1 reason a deal gets killed: Lack of proof of validation
    (00:52:59) How to properly analyze and present your competitive landscape
    (00:55:28) How misaligned deal terms and valuation can kill an otherwise great deal
    (00:58:34) The dangers of raising too much money too early
    (01:02:43) Why alignment between founders and investors is the key to building a great business

    Join our online academy for free:
    https://startupignition.com/academy

    Apply to be a guest on the pod:
    https://startup-ignition-podcast.paperform.co/

    Follow John & Tyler:
    https://x.com/trich_
    https://www.linkedin.com/in/johnrichards/

    Subscribe on YouTube:
    https://www.youtube.com/@StartupIgnition

    Follow on X:
    https://x.com/startupignition

    Follow on Instagram:
    https://www.instagram.com/startupignition/

    Follow on TikTok:
    https://www.tiktok.com/@startupignition

    Follow on LinkedIn:
    https://www.linkedin.com/school/6458758/admin/dashboard/

    Follow on Facebook:
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    #PreSeed
    #DueDiligence
    #VentureCapital
    #StartupFunding
    #AngelInvesting
    #CapTable
    #Founder
    #Entrepreneurship
    #StartupAdvice
    #QSBS
    #Rule83B
    #StartupValuation
    #LeanStartup
    #StartupIgnition
    #Pitching
    #BusinessModels
    #Validation
    #Fundraising
    #StartupTips
    #EarlyStage
    Más Menos
    1 h y 5 m
  • Travis Cook: The AI Software Revolution, Building a Top Dev Shop, Blockchain, Startup Investing

    Travis Cook: The AI Software Revolution, Building a Top Dev Shop, Blockchain, Startup Investing
    May 30 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler are joined by seasoned entrepreneur, investor, and mentor Travis Cook. They dive into Travis's journey, starting with his early days as a Java developer in 1996, co-founding Solution Stream, a pioneering custom software development shop that significantly impacted Utah's tech scene. The conversation explores his experiences as CEO of Apigo (now Taskfire) and President of Nerd United, a blockchain-focused venture. Travis shares deep insights into the evolution of software engineering with the advent of AI, the pros and cons of service-based versus product-based businesses, the tumultuous world of blockchain and cryptocurrency, and his current ventures in AI applications and startup investing. The discussion also touches on the future of work, the impact of AI on hiring, and valuable advice for aspiring entrepreneurs.

    (00:00:00) The future of software engineering with AI
    (00:01:35) Introducing guest Travis Cook: entrepreneur, investor, mentor
    (00:04:23) Icebreaker game: Startup Instincts
    (00:09:14) Travis Cook's journey: From Atari to co-founding Solution Stream
    (00:15:04) Navigating the dot-com bust with Solution Stream
    (00:17:20) Scaling Solution Stream: From startups to enterprise clients
    (00:23:26) Exiting Solution Stream: Valuing service vs. product businesses
    (00:28:37) Advice for founders: Service business vs. product startup
    (00:30:33) Experience with Apigo (Taskfire): A B2C product journey
    (00:33:57) Nerd United: Building a blockchain economy and hiring 300+ engineers
    (00:38:07) Understanding blockchain, decentralization, and Bitcoin
    (00:41:30) Challenges with the SEC and the crypto regulatory landscape
    (00:45:44) The current state of Nerd United and the product-first philosophy
    (00:46:36) Travis Cook's outlook on crypto, blockchain, and DeFi's future
    (00:49:15) Venture capitalist sentiment on crypto and blockchain investments
    (00:52:08) AI's impact on software development: 1 person doing the work of 10
    (00:53:51) How dev shops like Solution Stream adapt to AI
    (00:55:37) The broader societal shifts: From Information Age to AI Age
    (00:59:13) Speculating on the future of work for those displaced by AI
    (01:02:41) Travis Cook's current focus: Investing, AI projects, and coaching
    (01:06:59) Travis's top two tips for new entrepreneurs

    Join our online academy for free:
    https://startupignition.com/academy

    Apply to be a guest on the pod:
    https://startup-ignition-podcast.paperform.co/

    Follow John & Tyler:
    https://x.com/trich_
    https://www.linkedin.com/in/johnrichards/

    Subscribe on YouTube:
    https://www.youtube.com/@StartupIgnition

    Follow on X:
    https://x.com/startupignition

    Follow on Instagram:
    https://www.instagram.com/startupignition/

    Follow on TikTok:
    https://www.tiktok.com/@startupignition

    Follow on LinkedIn:
    https://www.linkedin.com/school/6458758/admin/dashboard/

    Follow on Facebook:
    https://www.facebook.com/startupignition/

    #StartupIgnition
    #TravisCook
    #Entrepreneurship
    #SoftwareEngineering
    #AI
    #ArtificialIntelligence
    #DevShop
    #SolutionStream
    #Blockchain
    #Crypto
    #DeFi
    #StartupAdvice
    #TechInnovation
    #FutureOfWork
    #VentureCapital
    #ProductVsService
    #UtahTech
    #BusinessModels
    #Investing
    #Mentorship
    Más Menos
    1 h y 11 m
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