• The $22M Bet on SMS Marketing: Shane Murphy’s Startup Playbook
    2025/02/27
    In this episode, we speak with Shane Murphy, the CEO and co-founder of Boostly. Shane shares his transition from a successful sales career to the world of entrepreneurship, detailing his journey of launching an SMS marketing startup for restaurants. He emphasizes key strategies such as validating business ideas, leveraging mentorship, adapting to market needs through flexible pricing and product offerings, and the critical importance of building a strong, capable team.(00:00:00) - Icebreaker game: Never have I ever(00:00:59) - Introducing Shane Murphy from Boostly(00:01:33) - Boostly's $22 million Series A announcement(00:02:34) - Welcoming Shane to the Startup Ignition podcast(00:06:49) - Diving into Shane's background and history(00:07:55) - Shane's journey to becoming a sales leader(00:08:52) - From music major to sales(00:10:09) - First exposure to sales as an SDR(00:10:48) - Joining American Healthcare Lending(00:11:53) - Assuming a founder-like role(00:12:42) - Investing in American Healthcare Lending(00:13:16) - Preparing to be an entrepreneur(00:13:57) - Transitioning to Jolt(00:14:29) - Scaling sales at Jolt(00:16:05) - Discovering Startup Ignition(00:16:46) - Attending the Startup Ignition boot camp(00:18:35) - Jotting down ideas and problems to solve(00:19:32) - Gaining confidence to start a company(00:20:10) - Being a meticulous lean startup follower(00:21:05) - Advice on approaching a startup idea(00:22:28) - Pouring everything into Jolt(00:22:58) - Preparing financially to go all in(00:23:53) - Validating while working for someone else(00:24:19) - Getting the push to quit and start a company(00:25:07) - Discussions surrounding quitting(00:25:42) - Feeling nervous and getting a sign(00:26:19) - Validating the startup idea(00:27:11) - Starting cold calling and setting appointments(00:27:43) - First hypothesis for a business model(00:28:55) - The classic marketplace chicken and egg concept(00:29:34) - Landing on a direct online ordering solution(00:30:24) - Timeline from quitting to landing on the third or fourth idea(00:31:13) - Pre-selling as part of validation(00:31:48) - Only a founder can do what Shane did(00:32:28) - Testing the Chowow hypothesis(00:33:18) - Showing customers PowerPoint slides(00:34:04) - Pitching to Chowow customers(00:34:50) - Hunting for a co-founder(00:36:16) - John's network and finding Mikey(00:37:35) - Mikey's background and desire for a business co-founder(00:38:35) - Mikey checking every box(00:39:32) - Serendipity, timing, and being easy to work with(00:40:02) - Mikey's business acumen(00:40:19) - Working together at the startup building(00:40:46) - Incorporating the company(00:41:15) - Launching the MVP(00:41:59) - Launching to pre-sold customers(00:42:26) - Realizing the need to pivot(00:43:14) - Brute force sales and product market fit challenges(00:43:58) - Pivoting and focusing on marketing tools(00:44:53) - Leaning into the value proposition(00:45:27) - Everything's a hypothesis until validated(00:45:48) - The accelerated process and quickness(00:46:27) - Going to the International Pizza Expo(00:47:09) - Focusing on retention and doubling revenue(00:47:34) - Restaurants shutting down due to the pandemic(00:48:06) - Validating additional products during the pandemic(00:49:04) - Restarting with a new pricing model(00:49:44) - Going through Y Combinator(00:49:54) - SMS marketing for restaurants(00:50:30) - Raising capital at the end of Y Combinator(00:51:15) - Marketing tools for restaurants(00:51:26) - Closing a seed round of capital(00:52:07) - Trestle partners leading the seed round(00:52:25) - Peak Span Capital leading the Series A(00:53:06) - Trestle's investment stage(00:53:47) - Closing the seed round in May 2024(00:54:16) - Peak Span reaching out and structuring a deal(00:55:12) - A preemptive series A(00:56:28) - Are you happy?(00:57:19) - Shane's a great guy who assimilated information(00:57:59) - Aligning with methodologies(00:58:11) - Parting wisdom and advice(00:59:28) - Fundraising takes care of itself if you build a good business(01:00:34) - Wrapping up the podcast(01:00:50) - Staying up to date with Boostly(01:01:14) - Boostly's been around for eight years(01:01:45) - Shane's a good person(01:01:57) - Success comes from solving real-world problemsJoin our online academy for free:https://startupignition.com/academyApply 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/@StartupIgnitionFollow on X:https://x.com/startupignition Follow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn: https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#Startup #Entrepreneurship #SMSMarketing #RestaurantMarketing #BusinessValidation #PreSales #ProductMarketFit #...
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    1 時間 3 分
  • Avoiding Capital Pitfalls: Sustainable Growth and Effective Networking Strategies
    2025/02/21
    In this episode, we discuss current fundraising trends, the importance of sustainable business models, and key attributes of fundable startups, offering advice on how to navigate the venture capital landscape.

    (00:00:00) - An email firing
    (00:01:29) - Podcast introduction
    (00:01:51) - Icebreaker: Who's more likely?
    (00:02:21) - Investing in a terrible idea
    (00:02:54) - Pitching an existing startup idea
    (00:03:29) - Ignoring Excel for gut decisions
    (00:03:56) - Starting and exiting a billion-dollar company
    (00:06:13) - Launching a startup without validation
    (00:06:54) - Firing someone via email
    (00:07:59) - Meeting with an investor just because they're famous
    (00:09:19) - Making more pivots in a startup
    (00:10:13) - Running a company that burns $10 million before making $1 of revenue
    (00:10:55) - Google stories
    (00:12:48) - Fundraising as a hot topic
    (00:14:13) - Raising money doesn't solve all your problems
    (00:16:09) - Diving into fundraising
    (00:16:39) - Forbes article: Why 2025 Looks Like a Big Year for Venture Capital
    (00:17:51) - Startup Ignition Ventures' thesis on building in venture
    (00:19:45) - Feedback on sustainable business models
    (00:20:37) - The father of lean startup, Steve Blank
    (00:21:39) - When to sell assets built up in venture
    (00:22:47) - Wall Street Journal article: Venture Capital needs a new math
    (00:23:45) - Funding a company that became a billion dollar unicorn
    (00:24:08) - High valuation early on in your startup
    (00:25:40) - Numbers and examples of high valuation
    (00:27:26) - $30 million valuation warrants some form of revenue
    (00:28:45) - Fundraise the capital that you actually truly need
    (00:29:15) - The cycle of trough and the valley
    (00:30:05) - Analyzing a deal
    (00:31:21) - What we look for
    (00:32:24) - Aspects and attributes of a fundable project
    (00:32:59) - SaaS business
    (00:33:14) - The founder
    (00:33:28) - Primary, secondary and tertiary founders
    (00:34:13) - Detail oriented, passionate, thorough, thoughtful
    (00:35:32) - Industry experience
    (00:36:22) - Coachable, resourceful, adaptable, smart
    (00:36:35) - Market opportunity
    (00:37:19) - Total addressable market
    (00:37:45) - Timing of the opportunity
    (00:38:23) - Business model
    (00:38:34) - Revenue potential
    (00:39:40) - Traction and validation
    (00:41:31) - Monthly recurring revenue
    (00:42:07) - Wasted energy, resources, time and money around building startups
    (00:43:32) - Societal benefit
    (00:44:14) - Lean Startup
    (00:46:05) - Attributes that we look for in an investable project
    (00:47:09) - Scalable companies
    (00:48:06) - Online community questions
    (00:48:32) - Taking money from an investor you don't fully trust
    (00:51:55) - Investing in a great team with a bad idea or a bad team with a great idea
    (00:52:23) - Mistakes founders make in a pitch meeting
    (00:55:13) - Meeting investors without warm intros
    (00:57:23) - Networking and referrals
    (00:58:46) - The importance of universities
    (01:00:07) - Investors are changing their strategy
    (01:00:47) - Thank you and goodbye

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    #VentureCapital
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    1 時間 2 分
  • AI Gold Rush, Startup Cycles, and the Art of Bootstrapping: What Every Founder Needs to Know
    2025/02/14
    In this episode, we explore the evolving entrepreneurial landscape heading into 2025, covering the impact of AI, macroeconomic cycles, venture capital trends, and foundational principles like founder-market fit and business model validation.

    (00:00:00) - Welcome back to Startup Ignition for episode two.
    (00:01:24) - Father-son icebreaker: startup terminology.
    (00:02:01) - Defining "Dulu" in startup lingo.
    (00:02:28) - Defining "Let them cook" in startup lingo.
    (00:02:56) - Defining "Riz" in startup lingo.
    (00:03:49) - Defining "Brainrot" in startup lingo.
    (00:04:13) - Old school vs. new school: the changing landscape for entrepreneurs in 2025.
    (00:05:07) - Multi-decade look at venture scalability.
    (00:06:22) - AI's impact on reducing startup costs.
    (00:07:51) - AI as a generational innovation.
    (00:08:53) - Macroeconomic effects on venture and startups.
    (00:09:56) - Experiencing an economic downturn.
    (00:11:31) - Feeling the abnormality of 2020-2021.
    (00:12:18) - Being aware of the macroeconomic cycle.
    (00:13:23) - The trough of an economic cycle as a fantastic time to start a company.
    (00:15:27) - Cautions for new thinking in 2025.
    (00:16:15) - Sam Altman's view on entrepreneurship.
    (00:17:11) - The changing VC landscape in 2025.
    (00:18:25) - VC's exuberance and pessimism cycles.
    (00:20:08) - Advice for companies that have struggled but reached a certain revenue.
    (00:21:06) - What's staying the same: foundational principles.
    (00:21:30) - The importance of a great idea and business opportunity.
    (00:22:49) - Defining a business model.
    (00:23:13) - Validating hypothesized business models.
    (00:24:41) - Traction and revenue as cash kings.
    (00:25:13) - Revenue cures all ills.
    (00:27:14) - Strategies that are now ill advice.
    (00:28:07) - Focusing on problem-hunting when building a startup.
    (00:29:18) - The importance of founder market fit.
    (00:29:57) - War story: immense founder market fit.
    (00:33:17) - The importance of execution.
    (00:33:42) - Big tech leaders at the inauguration.
    (00:35:11) - The new administration is pro business.
    (00:36:21) - Renaissance in entrepreneurship.
    (00:37:13) - The Stargate proposal for AI infrastructure leadership.
    (00:38:18) - Deregulation and its impact on small businesses.
    (00:39:02) - Regulations on small businesses.
    (00:40:55) - Small business vs. scalable venture.
    (00:41:51) - Pre-seed AI fundraises and Startup Ignition Ventures' stance.
    (00:43:47) - The lemmings approach to investing in AI.
    (00:45:57) - Capital efficiency and enhanced features coming from AI.
    (00:46:33) - Products attacking a specific workflow or vertical.
    (00:50:22) - VC and fundraising.
    (00:50:36) - Entrepreneurs choosing to bootstrap.
    (00:52:14) - When is the right time to fundraise vs. bootstrap?
    (00:54:40) - The importance of zero churn.
    (00:56:19) - Wrapping up another great episode.

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    #EntrepreneurialLandscape
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    58 分
  • Our Journeys, Lean Startup Insights, Economic Cycles, and AI's Role in Modern Entrepreneurship
    2025/02/07
    00:00 Introduction
    01:06 Startup Insights
    02:31 Early Experiences
    04:04 Experiences at Google
    05:03 Startup Ignition
    06:04 Startup Challenges
    07:34 Lean Startup Principles
    08:10 Validation Importance
    11:13 Success Stories
    13:28 Scalable Ventures
    34:18 Investing Criteria
    40:23 AI Trends
    54:20 Economic Cycles
    56:40 Conclusion

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    #StartupIgnition #StartupAdvice #LeanStartup #EntrepreneurshipInsights #VentureInvesting #ValidatedBusinessModel #SiliconSlopes #B2BSaaS #StartupSuccessStories #EntrepreneurialEcosystem #FatherSonDuo #StartupEcosystem #StartupLessons #AIImpactStartups #BusinessValidation #ScalableVentures
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    58 分