1 00:00:04,840 --> 00:00:09,160 Speaker 1: Welcome to Possible Now Stories of Possibilities, the podcast where 2 00:00:09,200 --> 00:00:13,200 Speaker 1: we dive into the leadership frameworks, bold ideas and personal 3 00:00:13,240 --> 00:00:19,040 Speaker 1: stories shaping the future of marketing, technology and leadership. How 4 00:00:19,120 --> 00:00:21,479 Speaker 1: many great ideas never see the light of day, not 5 00:00:21,640 --> 00:00:24,680 Speaker 1: because they were wrong, but because someone waited too long 6 00:00:24,760 --> 00:00:28,640 Speaker 1: to feel ready. This is Possible Now Stories of Possibilities. 7 00:00:28,760 --> 00:00:32,760 Speaker 1: I'm Christian Mucher, Global President, founder of Possible and your host. 8 00:00:33,360 --> 00:00:36,879 Speaker 1: Today's conversation is about a truth most people don't like 9 00:00:36,960 --> 00:00:41,680 Speaker 1: to hear. Ideas don't win. Confidence doesn't win. Even timing 10 00:00:41,720 --> 00:00:46,120 Speaker 1: doesn't win. Execution does. My guest today didn't learn that once. 11 00:00:46,600 --> 00:00:49,879 Speaker 1: She learned it over and over again by building, risking, 12 00:00:50,000 --> 00:00:53,280 Speaker 1: and starting again. She began her first company at a 13 00:00:53,360 --> 00:00:57,480 Speaker 1: kitchen table. She turned early ideas into real businesses. She 14 00:00:57,640 --> 00:01:01,880 Speaker 1: scaled them, exited them, and did it again across different cycles, 15 00:01:02,120 --> 00:01:06,240 Speaker 1: technologies and moments when most people would have chosen safety 16 00:01:06,600 --> 00:01:11,280 Speaker 1: over momentum. Kimperrell is not just a serial entrepreneur. She 17 00:01:11,400 --> 00:01:14,559 Speaker 1: is someone founders look to when the past isn't clear, 18 00:01:15,080 --> 00:01:17,920 Speaker 1: when the doubt is loud, the clock is sticking, and 19 00:01:18,120 --> 00:01:23,800 Speaker 1: action feels uncomfortable. She's founded and exited nine companies, she'specked 20 00:01:23,880 --> 00:01:27,520 Speaker 1: hundreds of early stage founders, and through her platform hundred 21 00:01:27,600 --> 00:01:30,760 Speaker 1: dot Co, she is now doing something even more powerful, 22 00:01:31,240 --> 00:01:34,960 Speaker 1: turning execution into a skill that can be learned, practiced, 23 00:01:35,200 --> 00:01:39,400 Speaker 1: and mastered. A best selling author of The Execution Factor, 24 00:01:39,840 --> 00:01:43,360 Speaker 1: Jump and Mistakes That Made Me a Millionaire, Kim is 25 00:01:43,400 --> 00:01:47,720 Speaker 1: widely recognized for her practical, no nonsense approach to entrepreneurship, 26 00:01:48,200 --> 00:01:54,040 Speaker 1: emphasizing action over perfection and momentum over fear. Her insights 27 00:01:54,120 --> 00:01:57,040 Speaker 1: have made her a frequent guest on major media outlets 28 00:01:57,120 --> 00:02:01,760 Speaker 1: including CNBC, Blomberg, Fox Business, and The Today's Show. What 29 00:02:01,920 --> 00:02:05,600 Speaker 1: sets Kim apart isn't the exits or the headlines. It's 30 00:02:05,640 --> 00:02:09,800 Speaker 1: a clarity. She doesn't glamorize the journey. She talks openly 31 00:02:09,840 --> 00:02:14,240 Speaker 1: about fear, about rejection, about moving forward before you feel ready, 32 00:02:14,520 --> 00:02:18,880 Speaker 1: because waiting can cost you everything. This is a conversation 33 00:02:18,919 --> 00:02:23,440 Speaker 1: about momentum over perfection, action over certainty, and why the 34 00:02:23,480 --> 00:02:27,240 Speaker 1: boldest move is often the first one. Kim perrell A 35 00:02:27,360 --> 00:02:29,359 Speaker 1: very well. Welcome Kim to Possible now. 36 00:02:29,680 --> 00:02:31,720 Speaker 2: Ah, thank you so much for having me. I'm thrilled 37 00:02:31,760 --> 00:02:32,200 Speaker 2: to be here. 38 00:02:33,080 --> 00:02:35,680 Speaker 1: I'm absolutely thrilled to have you as my first guest 39 00:02:35,720 --> 00:02:39,520 Speaker 1: of our season three. So Kim, before we really dig 40 00:02:39,560 --> 00:02:41,720 Speaker 1: into the details, I would like to ask you to 41 00:02:41,840 --> 00:02:45,000 Speaker 1: take us back a moment when you were not ready 42 00:02:45,320 --> 00:02:47,959 Speaker 1: or when you didn't feel to be ready, especially before 43 00:02:48,000 --> 00:02:51,079 Speaker 1: your first venture. I would assume you didn't have certainty, 44 00:02:51,200 --> 00:02:55,560 Speaker 1: confidence and permission, but you acted anyway. So what did 45 00:02:55,600 --> 00:02:57,800 Speaker 1: you do before you felt ready? And what would have 46 00:02:57,880 --> 00:02:59,320 Speaker 1: happened if you would wait? 47 00:03:00,040 --> 00:03:02,640 Speaker 3: Oh my goodness, if I take myself back, that was 48 00:03:02,680 --> 00:03:04,880 Speaker 3: a good twenty years ago, at the height of the 49 00:03:05,000 --> 00:03:10,600 Speaker 3: dot com and what an amazing opportunity to create and 50 00:03:10,680 --> 00:03:14,720 Speaker 3: to build at that time. And I worked for a 51 00:03:14,760 --> 00:03:18,200 Speaker 3: great internet company that had raised one hundred million in funding, 52 00:03:18,520 --> 00:03:22,200 Speaker 3: and I thought I was going to via dot com millionaire, 53 00:03:22,240 --> 00:03:27,440 Speaker 3: probably like everyone today that's starting AI companies, right, And unfortunately, 54 00:03:28,160 --> 00:03:30,960 Speaker 3: you know, the operating costs were too high and the 55 00:03:31,040 --> 00:03:35,960 Speaker 3: company couldn't sustain And it was a precursor to Dropbox, 56 00:03:36,000 --> 00:03:39,040 Speaker 3: so just cloud computing wasn't even a thing. We had 57 00:03:39,120 --> 00:03:41,360 Speaker 3: a lot of servers, a lot of infrastructure, and not 58 00:03:41,440 --> 00:03:44,920 Speaker 3: a lot of customers, and unfortunately, just the economics of 59 00:03:44,920 --> 00:03:47,840 Speaker 3: the business didn't work and the company went bankrupt, and 60 00:03:47,920 --> 00:03:53,840 Speaker 3: I found myself unemployed, jobless, devastated, depressed, and like so 61 00:03:53,920 --> 00:03:56,280 Speaker 3: many people at any time. It could have been twenty 62 00:03:56,360 --> 00:03:59,040 Speaker 3: years ago, it could be today, where you just don't 63 00:03:59,080 --> 00:04:02,880 Speaker 3: know what you want to do next. And to your point, 64 00:04:03,240 --> 00:04:07,640 Speaker 3: the uncertainty and the fears that I had around starting 65 00:04:07,680 --> 00:04:11,080 Speaker 3: my own company in the midst of the dot com 66 00:04:11,080 --> 00:04:17,320 Speaker 3: bubble bursting and a minefield of internet graveyards, I didn't 67 00:04:17,320 --> 00:04:18,000 Speaker 3: feel ready. 68 00:04:18,480 --> 00:04:18,640 Speaker 1: You know. 69 00:04:18,680 --> 00:04:22,240 Speaker 3: I was twenty three years old. I didn't have experience, 70 00:04:22,360 --> 00:04:24,719 Speaker 3: I didn't have any money. I was broke, you know, 71 00:04:25,160 --> 00:04:29,040 Speaker 3: I had never started a company before, and I thought 72 00:04:29,800 --> 00:04:32,520 Speaker 3: if I could just get more experience, or maybe get 73 00:04:32,560 --> 00:04:35,080 Speaker 3: another degree, then I would feel ready. 74 00:04:34,880 --> 00:04:38,000 Speaker 2: To start this company. That's what I think most. 75 00:04:37,880 --> 00:04:40,039 Speaker 3: People is probably listening right now, think they have a 76 00:04:40,080 --> 00:04:43,120 Speaker 3: great idea and they're waiting to feel ready. 77 00:04:43,760 --> 00:04:45,800 Speaker 1: We would come back to this, for sure, and as 78 00:04:45,800 --> 00:04:47,880 Speaker 1: you said, we will have definitely a lot of people 79 00:04:47,960 --> 00:04:50,160 Speaker 1: who have something in mind like this. But you didn't 80 00:04:50,160 --> 00:04:53,159 Speaker 1: decide to be an entrepreneur. You didn't wake up that morning, 81 00:04:53,160 --> 00:04:54,880 Speaker 1: you know, and said I need to be or want 82 00:04:54,880 --> 00:04:57,880 Speaker 1: to be an entrepreneur. I assume so you became one, 83 00:04:58,320 --> 00:05:00,400 Speaker 1: and I can't imagine this because I was in a 84 00:05:00,520 --> 00:05:04,080 Speaker 1: pretty similar situation. So what was the moment you realized 85 00:05:04,120 --> 00:05:07,719 Speaker 1: there is no going back? And what did that cost 86 00:05:08,080 --> 00:05:11,360 Speaker 1: you at this time? Maybe in your private life. I mean, 87 00:05:11,400 --> 00:05:13,039 Speaker 1: these are tough decisions for sure. 88 00:05:13,640 --> 00:05:15,880 Speaker 2: Yeah, to your point, I never wanted to be an entrepreneur. 89 00:05:15,960 --> 00:05:18,760 Speaker 3: Both my parents are entrepreneur and growing up it was 90 00:05:18,839 --> 00:05:22,279 Speaker 3: a never ending roller coaster ride of uncertainty. I was 91 00:05:22,320 --> 00:05:24,280 Speaker 3: always worried my dad was going to go bankrupt or 92 00:05:24,320 --> 00:05:26,640 Speaker 3: we couldn't pay the bills. It was this as a 93 00:05:26,680 --> 00:05:30,719 Speaker 3: small child. It's really nerve wracking. And so I thought, 94 00:05:30,760 --> 00:05:32,760 Speaker 3: I'm going to get a stable job and I'm going 95 00:05:32,839 --> 00:05:34,680 Speaker 3: to work with the corporate ladder and I'm going to 96 00:05:34,760 --> 00:05:38,760 Speaker 3: have security. And what I realized is there is no 97 00:05:39,040 --> 00:05:42,200 Speaker 3: job security, and the best bet you can make is 98 00:05:42,240 --> 00:05:45,400 Speaker 3: the bet on yourself. And at that point, after I 99 00:05:45,440 --> 00:05:47,560 Speaker 3: thought I had job security and I thought I was 100 00:05:47,560 --> 00:05:49,320 Speaker 3: going to climb the corporate ladder, and then I got 101 00:05:49,360 --> 00:05:53,760 Speaker 3: fired and I had hit rock bottom, I decided to 102 00:05:53,800 --> 00:05:57,360 Speaker 3: make that bet, and that is why I became an entrepreneur. 103 00:05:57,440 --> 00:05:58,560 Speaker 2: Not because I wanted to. 104 00:05:58,800 --> 00:06:01,040 Speaker 3: I wasn't thinking I'm going to be entrepreneur, but because 105 00:06:01,160 --> 00:06:04,279 Speaker 3: I realize that there was no job security, and so 106 00:06:04,360 --> 00:06:07,160 Speaker 3: if I wanted security, I had to make it on 107 00:06:07,200 --> 00:06:07,640 Speaker 3: my own. 108 00:06:08,279 --> 00:06:10,320 Speaker 1: Or you have an idea in mind which you believe 109 00:06:10,440 --> 00:06:12,080 Speaker 1: and only you can do it, right, I mean, this 110 00:06:12,200 --> 00:06:14,520 Speaker 1: is it comes together, right, It is you know, to 111 00:06:14,520 --> 00:06:17,480 Speaker 1: have maybe no other option, which is a fair reason. 112 00:06:17,839 --> 00:06:20,600 Speaker 1: Sometimes on the other hand, you know, sometimes you wake 113 00:06:20,680 --> 00:06:22,720 Speaker 1: up and think, that's it, this is something I have 114 00:06:22,760 --> 00:06:23,279 Speaker 1: to do. Right. 115 00:06:23,960 --> 00:06:26,640 Speaker 3: Yeah, I had a crystal clear vision of what I 116 00:06:26,680 --> 00:06:29,440 Speaker 3: wanted to create in my mind, and most people do. 117 00:06:29,480 --> 00:06:32,120 Speaker 3: They have this vision and that clarity of thought, and 118 00:06:32,160 --> 00:06:35,960 Speaker 3: that vision is so important. However, ideas are a DIMA 119 00:06:36,120 --> 00:06:39,520 Speaker 3: doesn't and putting that vision and grounding it in reality 120 00:06:40,080 --> 00:06:44,080 Speaker 3: is so difficult, and so that's why so many people 121 00:06:44,160 --> 00:06:49,039 Speaker 3: never actually get started. Because it's easy to dream, it's 122 00:06:49,120 --> 00:06:50,240 Speaker 3: so hard to do. 123 00:06:51,839 --> 00:06:53,880 Speaker 1: Let's come back for a moment. When you start such 124 00:06:53,920 --> 00:06:56,440 Speaker 1: a business and earlier on, how did you know which 125 00:06:56,480 --> 00:07:01,360 Speaker 1: ideas deserved your energy and which ones where just distractions? 126 00:07:01,400 --> 00:07:04,640 Speaker 1: Stressed up as opportunity you. I mean, as as an entrepreneur, 127 00:07:04,680 --> 00:07:07,120 Speaker 1: you talk to so many people. Normally, you know, I 128 00:07:07,200 --> 00:07:10,200 Speaker 1: have always people with you know, a good intention behind 129 00:07:10,600 --> 00:07:14,000 Speaker 1: and you're pushed into different directions. So how could you 130 00:07:14,040 --> 00:07:16,480 Speaker 1: identify what deserves your energy? 131 00:07:17,640 --> 00:07:20,200 Speaker 3: Yeah, for me, it was very clear where there was 132 00:07:20,320 --> 00:07:23,640 Speaker 3: opportunity in the market that I thought I could take 133 00:07:23,680 --> 00:07:27,160 Speaker 3: advantage of and regardless of And this is what most 134 00:07:27,160 --> 00:07:30,280 Speaker 3: happens to most people is people say you're crazy, People 135 00:07:30,320 --> 00:07:33,320 Speaker 3: say you should get a real job. People say why 136 00:07:33,360 --> 00:07:35,040 Speaker 3: it's not going to work, why it shouldn't work, why 137 00:07:35,040 --> 00:07:39,400 Speaker 3: it can't work, And they're actually imposing their own beliefs 138 00:07:39,400 --> 00:07:42,480 Speaker 3: onto you. And so even trying to say I have 139 00:07:42,520 --> 00:07:46,080 Speaker 3: an idea and I believe more than you doubt me. 140 00:07:46,520 --> 00:07:50,160 Speaker 3: That's what you have to believe, and that's why you 141 00:07:50,280 --> 00:07:53,120 Speaker 3: have to That belief will carry you through. And that's 142 00:07:53,120 --> 00:07:55,040 Speaker 3: when I took the first step because everyone told me 143 00:07:55,080 --> 00:07:58,080 Speaker 3: not to do it. The internets are fad, it will 144 00:07:58,120 --> 00:08:01,520 Speaker 3: never be vague, and obviously you know we see how 145 00:08:01,520 --> 00:08:03,960 Speaker 3: that worked out. But I had a belief and most 146 00:08:04,120 --> 00:08:06,160 Speaker 3: entrepreneurs do that. I had a belief in my vision 147 00:08:06,400 --> 00:08:09,480 Speaker 3: and I had the passion to bring it. 148 00:08:09,440 --> 00:08:14,360 Speaker 1: To life right right when I listened to your recent 149 00:08:14,440 --> 00:08:17,040 Speaker 1: interviews and of course reading your books, et cetera, you 150 00:08:17,120 --> 00:08:20,160 Speaker 1: talk a lot about your kind of failures or mistakes, 151 00:08:20,240 --> 00:08:23,920 Speaker 1: say it like this, is there a specific mistake, maybe 152 00:08:23,960 --> 00:08:26,160 Speaker 1: out of many, but one you want to share with 153 00:08:26,200 --> 00:08:29,880 Speaker 1: our audience from your early career that still influences how 154 00:08:30,000 --> 00:08:34,520 Speaker 1: you build today, how you act today, something which comes 155 00:08:34,520 --> 00:08:35,440 Speaker 1: immeting to your mind. 156 00:08:36,200 --> 00:08:38,840 Speaker 3: Well, I started making my mistakes really, really young, and 157 00:08:38,880 --> 00:08:42,320 Speaker 3: so not even early in my career, early in my life. 158 00:08:42,720 --> 00:08:46,360 Speaker 3: So honestly, I think a lot of the mistakes we 159 00:08:46,440 --> 00:08:50,040 Speaker 3: may come back to beliefs that we held from a 160 00:08:50,160 --> 00:08:52,320 Speaker 3: very young age and I'd say childhood. And this is 161 00:08:52,400 --> 00:08:55,360 Speaker 3: beliefs that you know, I have a twin sister, and 162 00:08:55,559 --> 00:08:58,200 Speaker 3: growing up she was smarter and faster and better basically 163 00:08:58,240 --> 00:09:04,280 Speaker 3: at everything, and I believed I was underqualified and I 164 00:09:04,400 --> 00:09:07,680 Speaker 3: was not as good as her. And so that belief 165 00:09:07,800 --> 00:09:11,439 Speaker 3: is something that stayed with me for, you know, decades. 166 00:09:11,480 --> 00:09:13,360 Speaker 3: And I think the challenge is is most of us 167 00:09:13,400 --> 00:09:16,160 Speaker 3: are still carrying beliefs that we learn at a young 168 00:09:16,240 --> 00:09:20,280 Speaker 3: age that are just fundamentally not true, and we're still 169 00:09:20,360 --> 00:09:22,600 Speaker 3: carrying them around with us. And so we had to 170 00:09:22,640 --> 00:09:25,959 Speaker 3: ask ourselves what limiting beliefs are we caring with us 171 00:09:26,000 --> 00:09:30,760 Speaker 3: today that are inhibiting us from becoming the best versions 172 00:09:30,800 --> 00:09:34,040 Speaker 3: of ourselves. And so, for me, that was really believing 173 00:09:34,160 --> 00:09:37,040 Speaker 3: I was underqualified and to be a woman of business 174 00:09:37,080 --> 00:09:41,720 Speaker 3: and really young founder at the start of the Internet. 175 00:09:41,960 --> 00:09:44,600 Speaker 3: There was a lot of things that, you know, really 176 00:09:44,880 --> 00:09:47,880 Speaker 3: reminded me of that limiting belief And so how do 177 00:09:47,920 --> 00:09:53,920 Speaker 3: you push through those limiting beliefs and become confident in 178 00:09:54,000 --> 00:09:57,359 Speaker 3: your own beliefs and your own talents and your own strengths. 179 00:09:57,440 --> 00:09:59,560 Speaker 3: And so for me, that was a huge mistake I 180 00:09:59,600 --> 00:10:04,880 Speaker 3: made ear on which unfortunately it started, you know, from 181 00:10:04,880 --> 00:10:06,440 Speaker 3: when I was young. And people can relate to that 182 00:10:06,480 --> 00:10:09,040 Speaker 3: because a lot of people had a sister like my sister, 183 00:10:09,040 --> 00:10:13,960 Speaker 3: who's really smart, and you just assume these these these 184 00:10:14,040 --> 00:10:17,520 Speaker 3: labels and they're fundamentally not true. So trying to make 185 00:10:17,559 --> 00:10:20,920 Speaker 3: sure that you are able to push past that and 186 00:10:21,040 --> 00:10:24,960 Speaker 3: create regardless of circumstance. And I think that's really important 187 00:10:25,000 --> 00:10:28,240 Speaker 3: for anyone right now, is what are those beliefs that 188 00:10:28,240 --> 00:10:30,000 Speaker 3: we think about? And for me, it was really believing 189 00:10:30,040 --> 00:10:31,040 Speaker 3: I was underqualified? 190 00:10:31,400 --> 00:10:34,920 Speaker 1: Right, I think this is definitely also something I felt 191 00:10:35,080 --> 00:10:39,560 Speaker 1: over the last years. How can you sometimes change such 192 00:10:39,559 --> 00:10:43,080 Speaker 1: an experience or such a feeling into a positive momentum 193 00:10:43,160 --> 00:10:45,839 Speaker 1: And sometimes you have to just ignore things like this, right, 194 00:10:46,000 --> 00:10:49,240 Speaker 1: negative things, whether it comes from a childhood or you know, 195 00:10:49,240 --> 00:10:53,360 Speaker 1: from recent events. I think that's definitely one one challenge 196 00:10:53,440 --> 00:10:57,479 Speaker 1: every day, again and again. So how did your relationship 197 00:10:57,520 --> 00:11:01,559 Speaker 1: with risk taking all these risks change as you moved 198 00:11:01,600 --> 00:11:05,600 Speaker 1: from first time founder to serial builder? Did success ever 199 00:11:05,720 --> 00:11:09,840 Speaker 1: make you too cautious or maybe at some stage altitude reckless? 200 00:11:10,000 --> 00:11:12,480 Speaker 1: I'll have you experienced both situations. 201 00:11:13,800 --> 00:11:17,079 Speaker 3: I have experienced both, and I think I've learned more 202 00:11:17,160 --> 00:11:19,880 Speaker 3: from my failures than I have from all my successes. 203 00:11:19,920 --> 00:11:20,560 Speaker 2: I truly have. 204 00:11:20,840 --> 00:11:23,280 Speaker 3: And when I was growing up, you know, it's interesting 205 00:11:23,320 --> 00:11:25,760 Speaker 3: how much your parents do make an impact on you. 206 00:11:25,760 --> 00:11:28,160 Speaker 3: You know, my parents would sit around the table and 207 00:11:28,200 --> 00:11:30,720 Speaker 3: they'd say, hey, Kim, what's the worst thing that happened 208 00:11:30,760 --> 00:11:32,760 Speaker 3: to you today. They didn't talk about school, they didn't 209 00:11:32,760 --> 00:11:35,760 Speaker 3: talk about sports. They were entrepreneurs. They talked about business. 210 00:11:35,920 --> 00:11:39,280 Speaker 3: And so imagine being nine and debating business resilience over 211 00:11:39,320 --> 00:11:43,959 Speaker 3: macaroni and cheese. It is something that just wasn't normal. 212 00:11:44,000 --> 00:11:46,960 Speaker 3: But the reality that I face is that they were 213 00:11:48,120 --> 00:11:53,600 Speaker 3: teaching me how to embrace failure and risk and normalize 214 00:11:53,600 --> 00:11:57,440 Speaker 3: it from a very young age. So after you get 215 00:11:57,480 --> 00:11:59,920 Speaker 3: fired and hit rock bottom, I mean, listen, the only 216 00:12:00,080 --> 00:12:02,679 Speaker 3: place to go is up, so that really is a 217 00:12:02,720 --> 00:12:03,720 Speaker 3: great place to start. 218 00:12:03,920 --> 00:12:06,520 Speaker 2: And for me, having seen that, you know. 219 00:12:06,600 --> 00:12:11,920 Speaker 3: Personally growing up made me more secure in watching my 220 00:12:12,040 --> 00:12:14,640 Speaker 3: own parents have some of those challenges that Okay, I 221 00:12:14,679 --> 00:12:15,320 Speaker 3: can do this. 222 00:12:15,880 --> 00:12:17,080 Speaker 2: I can do hard things. 223 00:12:17,480 --> 00:12:21,320 Speaker 3: And it's hard whether you're working for someone or working 224 00:12:21,360 --> 00:12:22,720 Speaker 3: someone for someone else. 225 00:12:22,840 --> 00:12:24,800 Speaker 2: Right, it's all hard to too hard. 226 00:12:25,080 --> 00:12:28,680 Speaker 1: That's true. That's true. So at the very beginning you've 227 00:12:28,800 --> 00:12:31,800 Speaker 1: mentioned that waiting would have cost you everything. How do 228 00:12:31,880 --> 00:12:35,640 Speaker 1: foundos recognize the moment when action beats preparation. What is 229 00:12:35,679 --> 00:12:39,200 Speaker 1: the danger of waiting just a little too long? Obviously 230 00:12:39,240 --> 00:12:42,000 Speaker 1: somebody else can come up with a similar year, right, 231 00:12:42,080 --> 00:12:46,040 Speaker 1: this is an obvious one. It's sometimes, like you know, 232 00:12:46,520 --> 00:12:49,839 Speaker 1: based on my own experience, there is maybe not the 233 00:12:50,040 --> 00:12:53,520 Speaker 1: completely new product or idea you have in mind, but 234 00:12:53,600 --> 00:12:56,560 Speaker 1: you need to adjust it into a way which provides 235 00:12:56,679 --> 00:13:00,200 Speaker 1: completely new experiences. When was the moment for you? You 236 00:13:01,280 --> 00:13:04,120 Speaker 1: or were there are several moments because you found it 237 00:13:04,400 --> 00:13:05,319 Speaker 1: a couple of companies. 238 00:13:06,000 --> 00:13:09,280 Speaker 3: I'm a perfectionist, right, so after I didn't want to fail. 239 00:13:09,520 --> 00:13:11,280 Speaker 2: No one wants to fail. No one shows up thinking 240 00:13:11,280 --> 00:13:12,079 Speaker 2: you're going to fail. 241 00:13:12,160 --> 00:13:14,800 Speaker 3: And I remember when I had started early on my 242 00:13:14,880 --> 00:13:17,880 Speaker 3: kitchen table, and I remember listening to this Marine Corps 243 00:13:17,880 --> 00:13:21,320 Speaker 3: general talking about what he used in battle, and it 244 00:13:21,360 --> 00:13:23,200 Speaker 3: was called the seventy percent rule. So if you have 245 00:13:23,280 --> 00:13:27,000 Speaker 3: seventy percent enough information, you should move. If you get 246 00:13:27,040 --> 00:13:29,640 Speaker 3: to a hundred, you've already lost. And so I said, hey, 247 00:13:29,679 --> 00:13:32,760 Speaker 3: if he's using that, that's a good that's a good 248 00:13:32,920 --> 00:13:34,800 Speaker 3: rule for me to use. And so I started using 249 00:13:34,840 --> 00:13:37,240 Speaker 3: the seventy percent and everything I did seventy percent of 250 00:13:37,320 --> 00:13:39,360 Speaker 3: my pitch, seventy percent of my marketing. If it was 251 00:13:39,400 --> 00:13:42,400 Speaker 3: seventy percent ready and I felt seventy percent ready, I 252 00:13:42,440 --> 00:13:45,400 Speaker 3: would act. And it really helped me find the balance 253 00:13:45,440 --> 00:13:49,360 Speaker 3: between analysis and action. And that's where everyone gets stuck. 254 00:13:49,400 --> 00:13:51,840 Speaker 3: It's just waiting to feel one hundred percent ready. You 255 00:13:51,880 --> 00:13:55,719 Speaker 3: will never be one hundred percent ready. You just have 256 00:13:55,760 --> 00:13:59,000 Speaker 3: to have the courage to start. And seventy percent is 257 00:13:59,000 --> 00:14:00,560 Speaker 3: a good place to start. 258 00:14:01,400 --> 00:14:03,640 Speaker 1: It sounds like a good number, yes, for sure. For sure. 259 00:14:04,280 --> 00:14:06,880 Speaker 1: You also mentioned that your ideas were not you know, 260 00:14:07,080 --> 00:14:09,320 Speaker 1: or at least it looked like you know good enough 261 00:14:09,600 --> 00:14:13,640 Speaker 1: to convince others. So rejection is part of your story obviously, 262 00:14:14,040 --> 00:14:16,440 Speaker 1: as for any many other founders, as well, at what 263 00:14:16,559 --> 00:14:21,680 Speaker 1: point did rejection stop feeling personal? Which is hard right 264 00:14:21,880 --> 00:14:26,240 Speaker 1: to take this? And at what point did rejections start 265 00:14:26,240 --> 00:14:28,960 Speaker 1: feeling more directional for you that you could turn it 266 00:14:29,000 --> 00:14:31,520 Speaker 1: into your own kind of power, right, that you pushed 267 00:14:31,520 --> 00:14:33,680 Speaker 1: and you knew which direction you need to go. 268 00:14:34,680 --> 00:14:37,080 Speaker 2: Yeah, for me, rejection hurts. 269 00:14:37,760 --> 00:14:39,480 Speaker 3: It doesn't matter if it's sad day and I still 270 00:14:39,520 --> 00:14:42,960 Speaker 3: get rejected. So if you're not getting rejected, you're not 271 00:14:43,000 --> 00:14:46,120 Speaker 3: trying hard enough. I truly believe that. And very early 272 00:14:46,200 --> 00:14:49,120 Speaker 3: on I had a great mentor that said rejection is 273 00:14:49,160 --> 00:14:53,040 Speaker 3: your best friend. It's a numbers game and each rejection 274 00:14:53,200 --> 00:14:55,640 Speaker 3: will get you closer to success because you learn and 275 00:14:55,720 --> 00:14:59,360 Speaker 3: you grow and you adapt and you pivot. So if 276 00:14:59,360 --> 00:15:03,600 Speaker 3: you look at rejection in a new way and say, 277 00:15:04,040 --> 00:15:06,880 Speaker 3: if I have to get a hundred rejections, then what 278 00:15:07,040 --> 00:15:09,600 Speaker 3: number am I now? And like, go for the know, 279 00:15:09,920 --> 00:15:11,760 Speaker 3: So every time I get rejected, I'm just going for 280 00:15:11,800 --> 00:15:11,960 Speaker 3: the no. 281 00:15:12,120 --> 00:15:13,720 Speaker 2: Eventually someone's going to say yes. 282 00:15:14,200 --> 00:15:16,480 Speaker 3: And it's a mindset shift, so it doesn't hurt so 283 00:15:16,560 --> 00:15:18,960 Speaker 3: bad when someone rejects. I mean, it always kind of stings, 284 00:15:19,280 --> 00:15:22,800 Speaker 3: but now it makes you stronger and better, and failure 285 00:15:22,880 --> 00:15:25,680 Speaker 3: is feedback and so every time I get rejected, I 286 00:15:25,800 --> 00:15:27,520 Speaker 3: learn what about the product? 287 00:15:27,560 --> 00:15:29,280 Speaker 2: Is it working? Why is it the pricing? 288 00:15:29,360 --> 00:15:29,440 Speaker 1: Like? 289 00:15:29,480 --> 00:15:32,560 Speaker 3: What is it about what I'm offering you? Why you 290 00:15:32,640 --> 00:15:35,400 Speaker 3: won't want to buy? And I think it's been a 291 00:15:35,480 --> 00:15:38,640 Speaker 3: but that mindset shift is about going out and being 292 00:15:38,680 --> 00:15:43,920 Speaker 3: okay with rejection. Yeah, is really a unique way to 293 00:15:44,080 --> 00:15:44,920 Speaker 3: view success. 294 00:15:45,120 --> 00:15:49,240 Speaker 1: Actually, yeah, yeah, I think that's very important. That's very valuable. 295 00:15:49,920 --> 00:15:53,200 Speaker 1: So in my intro, I've mentioned that it's all about execution. 296 00:15:53,360 --> 00:15:56,920 Speaker 1: Many funders believe execution skills. You know, it's something you 297 00:15:57,000 --> 00:16:00,360 Speaker 1: either have or you don't. Would you agree or disagree? 298 00:16:00,720 --> 00:16:06,000 Speaker 3: Now I completely disagree execution is a skill you can learn. Yeah, 299 00:16:06,280 --> 00:16:08,280 Speaker 3: it truly is. I mean I wrote a whole book 300 00:16:08,280 --> 00:16:10,560 Speaker 3: on it. So I definitely believe it's a skill that 301 00:16:10,600 --> 00:16:14,480 Speaker 3: you can learn. And I've invested a metric tens of 302 00:16:14,520 --> 00:16:18,000 Speaker 3: thousands of people. I've invested in so many entrepreneurs, and 303 00:16:18,040 --> 00:16:20,920 Speaker 3: the one thing that separates the good from the great 304 00:16:21,120 --> 00:16:24,200 Speaker 3: is their ability to execute. And today's world of AI, 305 00:16:24,600 --> 00:16:29,600 Speaker 3: it's even more important speed agility. This is so important 306 00:16:29,640 --> 00:16:32,840 Speaker 3: to every single founder out there, in every single business owner. 307 00:16:33,440 --> 00:16:36,640 Speaker 3: They need to be able to move quickly. The market 308 00:16:36,640 --> 00:16:38,200 Speaker 3: is moving regardless that they do or not. 309 00:16:40,320 --> 00:16:43,320 Speaker 1: When do you intend to start a business when scaling? 310 00:16:43,520 --> 00:16:45,960 Speaker 1: What is the first I don't know, let's call it 311 00:16:46,080 --> 00:16:51,760 Speaker 1: system or infrastructure or network. Founders should build, but almost 312 00:16:51,800 --> 00:16:54,640 Speaker 1: never do. So you're an advisor, You're investing into so 313 00:16:54,680 --> 00:16:58,400 Speaker 1: many companies, what should they think about from the start on? 314 00:16:58,560 --> 00:17:00,760 Speaker 1: You know, when having a scaling business in front of you. 315 00:17:02,280 --> 00:17:05,679 Speaker 3: The most important thing for me that has been really 316 00:17:05,680 --> 00:17:09,240 Speaker 3: pivotal to my success was getting a mentor in a 317 00:17:09,320 --> 00:17:12,639 Speaker 3: vertical specific category that's been there, that's done that to 318 00:17:12,800 --> 00:17:15,639 Speaker 3: help me in any business I choose to get into. 319 00:17:15,960 --> 00:17:17,919 Speaker 3: That is a game changer. They don't have to be 320 00:17:18,160 --> 00:17:20,239 Speaker 3: twenty years ahead. They can be ten years, they can 321 00:17:20,280 --> 00:17:22,159 Speaker 3: be one year. But they have to know more than me, 322 00:17:22,600 --> 00:17:26,360 Speaker 3: and they have to have been successful and having those 323 00:17:26,400 --> 00:17:28,159 Speaker 3: mentors and I still have them in every single one 324 00:17:28,160 --> 00:17:31,920 Speaker 3: of my companies, and they're different. Whether it's a CpG category, 325 00:17:31,920 --> 00:17:36,360 Speaker 3: a tech doesn't matter. But having those mentors increases your 326 00:17:36,440 --> 00:17:40,720 Speaker 3: likelihood of success by ten times. So why wouldn't you 327 00:17:40,760 --> 00:17:43,440 Speaker 3: do it? That is so important? So many I mean 328 00:17:43,520 --> 00:17:46,639 Speaker 3: I get it because I am as an entrepreneur, you 329 00:17:46,680 --> 00:17:49,720 Speaker 3: have like a lone wolf characteristic. 330 00:17:49,000 --> 00:17:50,119 Speaker 2: Like I can do it myself. 331 00:17:50,240 --> 00:17:54,359 Speaker 3: I can do everything myself, and it's so wrong actually, because. 332 00:17:54,800 --> 00:17:56,080 Speaker 2: No one's successful alone. 333 00:17:56,119 --> 00:17:59,320 Speaker 3: So you have to surround yourself with people that are 334 00:17:59,320 --> 00:18:01,040 Speaker 3: able to help you get to the next level. 335 00:18:02,320 --> 00:18:06,320 Speaker 1: How do you fund mentors? I mean you have your 336 00:18:06,400 --> 00:18:09,879 Speaker 1: networking know people, but not necessary you know, you don't 337 00:18:09,880 --> 00:18:13,560 Speaker 1: have such a mentor in this group of people surrounding you. Right, 338 00:18:13,800 --> 00:18:16,840 Speaker 1: great people, but not necessarily a mentor. So how can 339 00:18:16,840 --> 00:18:18,040 Speaker 1: you do this? For me? 340 00:18:18,480 --> 00:18:20,200 Speaker 3: To be honest, I've had a lot of great mentors 341 00:18:20,240 --> 00:18:22,600 Speaker 3: on the boards that I've sat on, or the companies 342 00:18:22,640 --> 00:18:24,880 Speaker 3: I've run that had boards that became my mentors. 343 00:18:24,880 --> 00:18:27,000 Speaker 2: Over time, investments that I've. 344 00:18:26,840 --> 00:18:31,879 Speaker 3: Made that I found, you know, synergies with individuals I think. 345 00:18:32,000 --> 00:18:34,960 Speaker 3: To be honest, I really look category specific and ask 346 00:18:35,440 --> 00:18:37,160 Speaker 3: who do you know that's great at this Who can 347 00:18:37,240 --> 00:18:40,560 Speaker 3: you introduce me to? Again, I'm risking rejection every single 348 00:18:40,600 --> 00:18:42,479 Speaker 3: time I ask, but I don't care because I know 349 00:18:42,520 --> 00:18:45,119 Speaker 3: I'm getting closer to success. So you have to ask 350 00:18:45,160 --> 00:18:47,920 Speaker 3: for a mentorship, and the easiest way is finding someone. 351 00:18:48,480 --> 00:18:52,120 Speaker 3: Let's say you can look out on LinkedIn someone you admire. 352 00:18:52,240 --> 00:18:54,600 Speaker 3: Make a list of ten people that you admire that's 353 00:18:54,680 --> 00:18:57,840 Speaker 3: close that you think have done something that you want 354 00:18:57,840 --> 00:19:01,919 Speaker 3: to do. And literally the easiest way to ask is 355 00:19:02,040 --> 00:19:04,760 Speaker 3: I mean, I ask for coffee. You know, it's so simple, like, 356 00:19:04,840 --> 00:19:07,920 Speaker 3: let's have coffee, Christian, Let's sit down for fifteen minutes 357 00:19:07,920 --> 00:19:10,080 Speaker 3: and have coffee and let's see if there's a synergy 358 00:19:10,119 --> 00:19:10,639 Speaker 3: between us. 359 00:19:10,680 --> 00:19:12,880 Speaker 2: Because mentorship is not a paid relationship. 360 00:19:13,160 --> 00:19:15,960 Speaker 3: It is I want to help you because I know 361 00:19:16,119 --> 00:19:19,480 Speaker 3: I can contribute something to what you're building. 362 00:19:19,680 --> 00:19:22,000 Speaker 1: Right, And I think it's also fair to say that, 363 00:19:22,160 --> 00:19:26,000 Speaker 1: you know, when it comes to such a tremendous experience 364 00:19:26,040 --> 00:19:30,520 Speaker 1: as entrepreneur, based on your story, you're one of my mentors, right, 365 00:19:30,600 --> 00:19:33,920 Speaker 1: I mean I founded two companies, not nine, not ten, 366 00:19:34,359 --> 00:19:37,719 Speaker 1: like you and others. And therefore, you know, I remember 367 00:19:37,720 --> 00:19:41,280 Speaker 1: when we sat down and talked about this idea of 368 00:19:41,480 --> 00:19:44,920 Speaker 1: possible et cetera. You became my mentor in many ways. 369 00:19:44,920 --> 00:19:47,280 Speaker 1: You know when it came, you know, from the entrepreneurship 370 00:19:47,320 --> 00:19:52,359 Speaker 1: and when it comes to you know that you follow 371 00:19:52,400 --> 00:19:55,439 Speaker 1: your past. But let's talk about this for a second, 372 00:19:55,480 --> 00:19:59,159 Speaker 1: because there also there's also a challenge when when you 373 00:19:59,240 --> 00:20:03,160 Speaker 1: have to know when it's time to pivot versus push 374 00:20:03,280 --> 00:20:06,359 Speaker 1: through discomfort. Yeah, have your idea in mind, this is 375 00:20:06,440 --> 00:20:08,600 Speaker 1: the way I want to go. But of course it's 376 00:20:08,640 --> 00:20:11,240 Speaker 1: not always like this, right, so when is set moment? 377 00:20:11,760 --> 00:20:13,280 Speaker 2: Oh my gosh, well, thank you very much. 378 00:20:13,359 --> 00:20:15,560 Speaker 3: I talk about pivoting a lot, especially in entrepreneurs and 379 00:20:15,760 --> 00:20:18,000 Speaker 3: mentors can help guide you because they've been there. And 380 00:20:18,040 --> 00:20:20,359 Speaker 3: I think think of the most successful companies that we know, 381 00:20:20,520 --> 00:20:24,119 Speaker 3: I mean, YouTube started as a dating platform, Twitter started 382 00:20:24,119 --> 00:20:28,720 Speaker 3: as podcasts, write, Netflix started sending DVDs by mail. Every 383 00:20:28,720 --> 00:20:31,760 Speaker 3: single company has pivoted at least once. Even if I 384 00:20:31,800 --> 00:20:34,800 Speaker 3: look at the investments that I've made, ninety nine percent 385 00:20:34,840 --> 00:20:38,320 Speaker 3: of pivoted, and I think that's okay because they're adjusting, 386 00:20:38,359 --> 00:20:42,400 Speaker 3: they're iterating, they're trying and testing and learning and failing 387 00:20:42,440 --> 00:20:45,639 Speaker 3: and growing. And it's so important because to your point, 388 00:20:46,040 --> 00:20:48,520 Speaker 3: if you just think it's one way, you know, there's 389 00:20:48,560 --> 00:20:49,480 Speaker 3: only one way. 390 00:20:49,280 --> 00:20:51,920 Speaker 2: To get to it A to Z, that is a mistake. 391 00:20:52,480 --> 00:20:54,720 Speaker 3: There's a lot of different ways, and success is not 392 00:20:54,760 --> 00:20:57,439 Speaker 3: a straight line, right, So looking back, thinking about what 393 00:20:57,480 --> 00:21:00,679 Speaker 3: are the detours, the off rance, the setbacks, like what 394 00:21:00,840 --> 00:21:02,200 Speaker 3: other ways could I do it? 395 00:21:02,520 --> 00:21:03,720 Speaker 2: And could I do it better? 396 00:21:03,800 --> 00:21:06,879 Speaker 3: I'm always open to learning, and I think for me 397 00:21:07,080 --> 00:21:10,639 Speaker 3: being really curious and now being across so many different industries, 398 00:21:11,440 --> 00:21:16,480 Speaker 3: just continuously understanding and learning from individuals that are smarter 399 00:21:16,560 --> 00:21:17,160 Speaker 3: than myself. 400 00:21:19,119 --> 00:21:22,080 Speaker 1: Let's talk about you as an engine investor. We've mentioned 401 00:21:22,080 --> 00:21:25,399 Speaker 1: this sever times. How many companies you invested? More than 402 00:21:25,359 --> 00:21:26,160 Speaker 1: one hundred. 403 00:21:25,840 --> 00:21:28,000 Speaker 2: Early one hundred and fifty now maybe more. 404 00:21:28,080 --> 00:21:29,600 Speaker 1: Oh wow, that's unbelievable. 405 00:21:29,640 --> 00:21:31,439 Speaker 3: A lot of good exits I've had, you know, at 406 00:21:31,520 --> 00:21:32,040 Speaker 3: least half. 407 00:21:31,920 --> 00:21:32,720 Speaker 2: Of them have exited. 408 00:21:32,760 --> 00:21:35,240 Speaker 1: So that's good on you. Good on you. Also, when 409 00:21:35,280 --> 00:21:38,800 Speaker 1: you look into something new, now, another company you might 410 00:21:38,840 --> 00:21:41,480 Speaker 1: be interested in, what do you notice about founders within 411 00:21:41,560 --> 00:21:44,520 Speaker 1: the first ten minutes that others miss? And I'm not 412 00:21:44,520 --> 00:21:46,879 Speaker 1: talking about the typical elevator speech, right, and not not 413 00:21:46,920 --> 00:21:52,960 Speaker 1: about the presentation itself, more maybe about the personality, how 414 00:21:53,000 --> 00:21:56,919 Speaker 1: people talk to you and try to sell this idea 415 00:21:57,000 --> 00:21:57,320 Speaker 1: to you. 416 00:21:58,359 --> 00:22:01,600 Speaker 3: Yeah, for me, look at founders right now. I know 417 00:22:01,720 --> 00:22:04,800 Speaker 3: how hard it is to be a founder. So I 418 00:22:04,840 --> 00:22:06,800 Speaker 3: am a founder. So I'm not just an investor. I'm 419 00:22:06,800 --> 00:22:08,920 Speaker 3: a founder. I've an operator. I've scaled businesses to a 420 00:22:09,000 --> 00:22:10,719 Speaker 3: billion dollars. I know how hard it is, and I've 421 00:22:10,720 --> 00:22:13,400 Speaker 3: sat there at my kitchen table wondering if I'm ever 422 00:22:13,440 --> 00:22:16,080 Speaker 3: going to get out of my own house, right, And 423 00:22:16,160 --> 00:22:20,120 Speaker 3: so when I invest in individuals now, and honestly, I 424 00:22:20,280 --> 00:22:23,600 Speaker 3: invest one hundred percent. Yes, you have to have a 425 00:22:23,640 --> 00:22:26,680 Speaker 3: great idea, and yes there has to be a great 426 00:22:26,720 --> 00:22:29,280 Speaker 3: market opportunity, but at the end of the day, I'm 427 00:22:29,280 --> 00:22:34,760 Speaker 3: investing in the individual and their ability when something goes wrong. 428 00:22:34,920 --> 00:22:38,159 Speaker 3: They gotta have grit, like, can't quit. They have to 429 00:22:38,240 --> 00:22:41,080 Speaker 3: keep going no matter how bad it gets. And that's 430 00:22:41,119 --> 00:22:43,280 Speaker 3: what I'm looking for in the individuals that I'm backing, 431 00:22:43,440 --> 00:22:45,479 Speaker 3: the ones that are open to pivoting, open to the 432 00:22:45,480 --> 00:22:49,479 Speaker 3: new ideas, open to find a solution. Because the market 433 00:22:49,560 --> 00:22:52,400 Speaker 3: again is moving so fast that we don't know what's 434 00:22:52,440 --> 00:22:53,159 Speaker 3: going to happen. 435 00:22:53,240 --> 00:22:53,760 Speaker 2: We just know. 436 00:22:54,400 --> 00:22:56,680 Speaker 3: I mean in my world, I just know something bad 437 00:22:56,760 --> 00:22:58,480 Speaker 3: is going to happen. So I need to bet on 438 00:22:58,520 --> 00:23:02,240 Speaker 3: a founder that is resilient and has the tenacity to 439 00:23:02,320 --> 00:23:03,360 Speaker 3: keep pushing forward. 440 00:23:04,080 --> 00:23:06,399 Speaker 1: And how do you support founders, you know, without taking 441 00:23:06,400 --> 00:23:08,960 Speaker 1: the wheel. I mean, if they need some adjustments and 442 00:23:09,000 --> 00:23:11,199 Speaker 1: some guidance, I think that's a tricky part, right to 443 00:23:11,240 --> 00:23:14,040 Speaker 1: give them advice, but not taking the wheel. So when 444 00:23:14,040 --> 00:23:15,000 Speaker 1: do you step in heart? 445 00:23:15,640 --> 00:23:18,280 Speaker 2: Oh my gosh, Well, you have to know in any relationship. 446 00:23:18,280 --> 00:23:20,600 Speaker 3: I think this goes with marriage or friendships, like am 447 00:23:20,640 --> 00:23:22,359 Speaker 3: I the passenger or am I the driver? 448 00:23:22,680 --> 00:23:24,720 Speaker 1: Right? Well, in the marriage you never step in heart 449 00:23:24,760 --> 00:23:25,080 Speaker 1: for sure. 450 00:23:25,160 --> 00:23:28,800 Speaker 2: No, No, I'm the passenger of the driver. You have to 451 00:23:28,800 --> 00:23:30,480 Speaker 2: know in any situation, where are you? 452 00:23:31,000 --> 00:23:34,240 Speaker 3: And if I'm investing, if I'm co founding, I'm also 453 00:23:34,520 --> 00:23:35,680 Speaker 3: you know we're co drivers. 454 00:23:35,760 --> 00:23:35,960 Speaker 1: Right. 455 00:23:36,119 --> 00:23:39,800 Speaker 3: If I'm just investing, you're the driver and I'm here 456 00:23:40,080 --> 00:23:44,480 Speaker 3: to just offer support and guidance and you know a network, right, 457 00:23:44,520 --> 00:23:47,320 Speaker 3: And so I don't lean in because unless you want 458 00:23:47,359 --> 00:23:50,040 Speaker 3: me to, I have a lot of found Usually if 459 00:23:50,040 --> 00:23:54,440 Speaker 3: founders call me something is really really wrong, like really wrong, 460 00:23:54,560 --> 00:23:56,560 Speaker 3: and they're calling me as like the lifeline, like Kim, 461 00:23:56,760 --> 00:23:59,160 Speaker 3: what should I do? Either I lost my best employee 462 00:23:59,240 --> 00:24:01,840 Speaker 3: or I I'm going to run out of cash, or 463 00:24:02,920 --> 00:24:06,520 Speaker 3: the market changed or something happened really dramatic, And I 464 00:24:06,560 --> 00:24:10,360 Speaker 3: feel I'm a really good mentor and advisor and investor 465 00:24:10,359 --> 00:24:13,320 Speaker 3: at that point because I'm an entrepreneur, so like I 466 00:24:13,400 --> 00:24:16,280 Speaker 3: will always favor the entrepreneur, which is a difference than 467 00:24:16,720 --> 00:24:20,080 Speaker 3: being a VC who really has different motives. 468 00:24:20,200 --> 00:24:22,280 Speaker 2: They're not on the ground, they don't know how hard 469 00:24:22,320 --> 00:24:22,600 Speaker 2: it is. 470 00:24:23,640 --> 00:24:25,880 Speaker 1: Something I can definitely confirm yes, that's yeah. 471 00:24:26,880 --> 00:24:28,800 Speaker 2: You know how hard it is, man, No, I. 472 00:24:29,240 --> 00:24:31,520 Speaker 1: Know how good you are, you know, having you up 473 00:24:31,520 --> 00:24:34,840 Speaker 1: next to me and giving me that kind of advice 474 00:24:34,880 --> 00:24:52,960 Speaker 1: and guidance all the time. So let's talk about something 475 00:24:53,080 --> 00:24:56,680 Speaker 1: very serious. In twenty four to twenty five, VC funding 476 00:24:56,760 --> 00:25:01,280 Speaker 1: for all women funding teams remain, though consist instantly hovering 477 00:25:01,400 --> 00:25:03,920 Speaker 1: around two percent to two point three or two five 478 00:25:03,960 --> 00:25:08,960 Speaker 1: percent of total US and global VC capital, which is unbelievable. 479 00:25:09,800 --> 00:25:13,479 Speaker 1: Our women founders being evaluated on traction while others are 480 00:25:13,520 --> 00:25:15,720 Speaker 1: evaluated on potential. What is the reason for that? 481 00:25:16,840 --> 00:25:19,560 Speaker 2: Actually, I don't think so. I don't think that's it, 482 00:25:19,600 --> 00:25:20,159 Speaker 2: to be honest. 483 00:25:20,200 --> 00:25:21,880 Speaker 3: When I look at how much deal flow I get, 484 00:25:21,920 --> 00:25:25,280 Speaker 3: and I get a lot, one out of twenty is 485 00:25:25,320 --> 00:25:28,359 Speaker 3: probably a woman founder asking me for investment. 486 00:25:28,200 --> 00:25:29,000 Speaker 2: Maybe less. 487 00:25:29,160 --> 00:25:33,560 Speaker 3: So there's just not enough women coming to the plate. 488 00:25:33,720 --> 00:25:37,399 Speaker 3: There's not enough woman asking for the money in my experience, 489 00:25:37,440 --> 00:25:41,960 Speaker 3: and I invest across category. So it's interesting and I think, 490 00:25:43,400 --> 00:25:45,919 Speaker 3: a there should be more, But you can't be what 491 00:25:45,960 --> 00:25:47,840 Speaker 3: you can't see. And so what I try to do 492 00:25:47,880 --> 00:25:50,159 Speaker 3: in most of in everything that I do, I mean, 493 00:25:50,200 --> 00:25:52,119 Speaker 3: I love the entrepreneurs like is to try to be 494 00:25:52,160 --> 00:25:55,040 Speaker 3: a role model, like you can do it, you need 495 00:25:55,080 --> 00:25:58,400 Speaker 3: to help. I'm actually mentoring at least six women right now, 496 00:25:58,480 --> 00:26:03,400 Speaker 3: women founders. So I think just trying to like in 497 00:26:03,400 --> 00:26:07,240 Speaker 3: whatever way you can, helping to understand how to raise capital, 498 00:26:07,400 --> 00:26:10,399 Speaker 3: helping to expand the network, and helping to show that 499 00:26:10,800 --> 00:26:13,040 Speaker 3: you can ask for help because as women, we don't 500 00:26:13,080 --> 00:26:16,320 Speaker 3: ask for help, like we just don't for whatever reason. 501 00:26:16,640 --> 00:26:20,520 Speaker 1: Right, So in other words, you're saying they're not falling out, 502 00:26:20,640 --> 00:26:23,879 Speaker 1: you know in pitch meetings or term sheets or follow 503 00:26:23,920 --> 00:26:27,199 Speaker 1: on rounds. It's really at the beginning, right when sourcing, Yes, 504 00:26:27,560 --> 00:26:30,760 Speaker 1: when getting the attention coming out and say hey, I'm 505 00:26:30,760 --> 00:26:32,400 Speaker 1: the one I know how to do. 506 00:26:32,320 --> 00:26:35,960 Speaker 3: This well, because they'll wait likely till they're one hundred 507 00:26:35,960 --> 00:26:38,920 Speaker 3: percent ready. Where the guys are like I'm seventy let's 508 00:26:38,960 --> 00:26:41,359 Speaker 3: go seventy percent, they're like, I'm going to pitch you. 509 00:26:41,400 --> 00:26:43,760 Speaker 2: I'm like, okay, pitch me. You should pitch me at 510 00:26:43,920 --> 00:26:44,639 Speaker 2: seventy percent. 511 00:26:44,760 --> 00:26:46,480 Speaker 3: The women wait till there one hundred percent the business 512 00:26:46,520 --> 00:26:49,080 Speaker 3: is already formed, right, and then at that point, you know, 513 00:26:49,160 --> 00:26:51,400 Speaker 3: usually they're cash flowings, so maybe they don't need investment, 514 00:26:51,480 --> 00:26:55,159 Speaker 3: but they do need the support, which is interesting, but 515 00:26:55,200 --> 00:26:58,880 Speaker 3: it's not personally from what I've seen, it's at the beginning, 516 00:26:59,320 --> 00:27:01,720 Speaker 3: and we need words more women to ask. 517 00:27:02,640 --> 00:27:05,560 Speaker 1: Okay, let's do this. Let's start with that podcast here. 518 00:27:05,680 --> 00:27:10,040 Speaker 1: For sure, we would like to see more applications reaching 519 00:27:10,080 --> 00:27:11,720 Speaker 1: out to you in the next couple of base. 520 00:27:11,720 --> 00:27:14,080 Speaker 2: I'm like, oh my gosh, because actually it's interesting. 521 00:27:14,520 --> 00:27:20,639 Speaker 3: I personally try to prioritize women founders, underrepresented founder like 522 00:27:20,720 --> 00:27:23,879 Speaker 3: founders that I know I can help, right, And but 523 00:27:24,200 --> 00:27:27,840 Speaker 3: the reality is when I look at who's pitching, it's 524 00:27:27,840 --> 00:27:30,359 Speaker 3: a very small sliver, and I think that's reflected in 525 00:27:30,400 --> 00:27:30,840 Speaker 3: the funding. 526 00:27:31,240 --> 00:27:35,840 Speaker 1: Right. You already mentioned AI and touch based on the 527 00:27:35,880 --> 00:27:38,760 Speaker 1: influence of AI. But let's talk about technology in general, 528 00:27:38,880 --> 00:27:42,280 Speaker 1: because technology always played a role, right, I mean when 529 00:27:42,320 --> 00:27:44,840 Speaker 1: we started our businesses, what is it, twenty years ago, 530 00:27:45,280 --> 00:27:48,439 Speaker 1: twenty five some whatever, there was already a lot of 531 00:27:48,480 --> 00:27:52,760 Speaker 1: technology developments. So how has technology changed who gets to 532 00:27:52,800 --> 00:27:56,040 Speaker 1: be an entrepreneur? Not just how companies are built, which 533 00:27:56,080 --> 00:27:57,959 Speaker 1: is obvious. You know, with technology you can do it 534 00:27:58,040 --> 00:28:01,240 Speaker 1: fast and easier and da da da, But how technology 535 00:28:01,400 --> 00:28:05,760 Speaker 1: changed the entrepreneur themselves. Do you see a difference there? 536 00:28:06,640 --> 00:28:09,440 Speaker 3: Yes, it's never been easier to start a company. 537 00:28:09,600 --> 00:28:10,840 Speaker 2: Oh my goodness. 538 00:28:10,840 --> 00:28:11,280 Speaker 1: Why is that? 539 00:28:11,760 --> 00:28:14,760 Speaker 3: Oh, because there's so many tools you can test and 540 00:28:14,840 --> 00:28:19,399 Speaker 3: iterate and get something to market within literally an hour. 541 00:28:19,480 --> 00:28:22,600 Speaker 3: It's insane, right, And I think about all the companies 542 00:28:22,640 --> 00:28:26,200 Speaker 3: that I'm working and mentoring. You can test and learn 543 00:28:26,320 --> 00:28:29,720 Speaker 3: so quickly and get proof of concept, get out to 544 00:28:29,840 --> 00:28:33,600 Speaker 3: market now with all of the tools, it's never been easier, 545 00:28:33,640 --> 00:28:37,280 Speaker 3: which is so exciting because it lowers the barrier to entry, 546 00:28:38,040 --> 00:28:40,520 Speaker 3: but it also makes it, you know, more competitive. 547 00:28:42,240 --> 00:28:45,240 Speaker 1: What about the VC market? I think you also found 548 00:28:45,240 --> 00:28:48,880 Speaker 1: it a company recently or maybe some time ago already, 549 00:28:48,920 --> 00:28:52,840 Speaker 1: so please correct me. Which use AI you know to 550 00:28:52,960 --> 00:28:57,920 Speaker 1: change the investment market the VC market itself? So how 551 00:28:58,280 --> 00:29:02,960 Speaker 1: will this impact how you could collect money as an entrepreneur, 552 00:29:03,000 --> 00:29:03,640 Speaker 1: as a founder. 553 00:29:04,120 --> 00:29:08,840 Speaker 3: Well, when you cut the VC market, you want to 554 00:29:09,360 --> 00:29:11,080 Speaker 3: especially because there's tools. 555 00:29:11,120 --> 00:29:13,680 Speaker 2: You're looking for more, you know, you see later. 556 00:29:13,600 --> 00:29:16,360 Speaker 3: Later stage, right, because you're seeing less money go into 557 00:29:16,400 --> 00:29:19,600 Speaker 3: early stage, A lot more money's going into later stage. 558 00:29:19,280 --> 00:29:21,360 Speaker 2: Because you now want to see traction. 559 00:29:21,800 --> 00:29:24,160 Speaker 3: You want to see a path of profitability, you want 560 00:29:24,160 --> 00:29:28,440 Speaker 3: to see consumer adoption. There's a lot more metrics that 561 00:29:28,480 --> 00:29:31,400 Speaker 3: you're looking at because you want to be more confident 562 00:29:31,760 --> 00:29:34,280 Speaker 3: in your investment, which I get as an investor. 563 00:29:34,360 --> 00:29:35,520 Speaker 2: I do. I do too. 564 00:29:35,560 --> 00:29:38,120 Speaker 3: The other day someone was pitching me and they didn't 565 00:29:38,160 --> 00:29:40,200 Speaker 3: have one. They hadn't even gotten to market. I'm like, 566 00:29:40,240 --> 00:29:43,479 Speaker 3: this is amazing idea, absolutely amazing. How many consumers are 567 00:29:43,520 --> 00:29:44,560 Speaker 3: actually testing it? 568 00:29:44,760 --> 00:29:47,640 Speaker 2: None? Like this is ridiculous. How are you even pitching 569 00:29:47,640 --> 00:29:48,280 Speaker 2: me right now? 570 00:29:49,640 --> 00:29:52,200 Speaker 3: Like get to market stuff, Like you've been doing this 571 00:29:52,280 --> 00:29:54,200 Speaker 3: for a year a year. I'm like, you should be 572 00:29:54,200 --> 00:29:55,640 Speaker 3: doing this for a month and then get to market, 573 00:29:55,680 --> 00:29:58,560 Speaker 3: get some feedback, go back, develop Like think of money 574 00:29:58,800 --> 00:30:03,280 Speaker 3: right now, you could have ten solid engineers, which kind 575 00:30:03,280 --> 00:30:06,239 Speaker 3: of goes back to twenty years, Like really, you can 576 00:30:06,280 --> 00:30:08,760 Speaker 3: get a lot of smart people that move really really 577 00:30:08,800 --> 00:30:11,760 Speaker 3: really quickly, Like ten solid engineers could be as much 578 00:30:11,840 --> 00:30:17,680 Speaker 3: as one hundred if you're actually all focused on executing 579 00:30:18,000 --> 00:30:18,880 Speaker 3: at the same time. 580 00:30:20,280 --> 00:30:25,000 Speaker 1: So the right balance between the latest tech stack using 581 00:30:25,040 --> 00:30:29,040 Speaker 1: in some way at the same time, at least, I believe, 582 00:30:29,080 --> 00:30:34,280 Speaker 1: you know, funding starting a business make it its successful 583 00:30:34,320 --> 00:30:37,640 Speaker 1: also depends on some I would say, I would call 584 00:30:37,680 --> 00:30:41,440 Speaker 1: it some kind of traditional values. Still, so what opportunities 585 00:30:41,440 --> 00:30:45,160 Speaker 1: do you believe most founders are overlooking right now? Independent 586 00:30:45,200 --> 00:30:51,400 Speaker 1: from all these technology influenced decisions because it feels two unglomrous. 587 00:30:52,360 --> 00:30:54,720 Speaker 1: Is there anything you would say, Hey, let's go back 588 00:30:54,760 --> 00:30:58,560 Speaker 1: to the old values, you know, which are still relevant 589 00:30:58,600 --> 00:31:01,440 Speaker 1: in today's time as well. 590 00:31:01,600 --> 00:31:05,400 Speaker 3: I think it's about not getting caught up in the hype, 591 00:31:05,560 --> 00:31:08,320 Speaker 3: to be honest and just building a great Let's go 592 00:31:08,400 --> 00:31:10,400 Speaker 3: back to basics. Let's just build a great business, a 593 00:31:10,440 --> 00:31:13,680 Speaker 3: business that makes money, a business that has a path 594 00:31:13,680 --> 00:31:17,440 Speaker 3: of profitability, like those businesses will always. 595 00:31:17,000 --> 00:31:18,240 Speaker 2: Have a great outcome. 596 00:31:18,680 --> 00:31:22,400 Speaker 3: Like business fundamentals should not get lost. And I think 597 00:31:22,400 --> 00:31:25,840 Speaker 3: that's really important because now it reminds me of twenty 598 00:31:25,920 --> 00:31:27,640 Speaker 3: years ago. We're just trying to get millions and millions 599 00:31:27,640 --> 00:31:29,960 Speaker 3: of consumers, but there's no actual business, Like we have 600 00:31:30,040 --> 00:31:32,520 Speaker 3: to have a functioning business that people are willing to 601 00:31:32,560 --> 00:31:35,600 Speaker 3: pay for. And I think that's really important to just 602 00:31:35,880 --> 00:31:38,120 Speaker 3: let's go back to basics at this point. 603 00:31:38,280 --> 00:31:41,280 Speaker 1: Yeah, not running crazy because of the hype. This is 604 00:31:41,320 --> 00:31:44,400 Speaker 1: I think absolutely true. Find the right balance, which is 605 00:31:45,320 --> 00:31:48,120 Speaker 1: also speaking on my own experience, one of the biggest challenges. 606 00:31:48,160 --> 00:31:50,000 Speaker 1: You wake up every morning and you think, you know, 607 00:31:50,040 --> 00:31:53,840 Speaker 1: the world changed completely. It feels quite often feels like this, 608 00:31:54,600 --> 00:31:57,160 Speaker 1: but then looking stepping back for a second and say, okay, 609 00:31:57,840 --> 00:32:01,720 Speaker 1: what has redium impact on societes, on your own business 610 00:32:01,760 --> 00:32:05,080 Speaker 1: and the market you're acting And that's then potentially not 611 00:32:05,280 --> 00:32:08,160 Speaker 1: always as you look into this in the first second. 612 00:32:08,240 --> 00:32:11,440 Speaker 1: So I think that makes absolute sense. So we talked 613 00:32:11,440 --> 00:32:15,920 Speaker 1: about glamour. Especially when you're successful, you only see quite often, 614 00:32:15,920 --> 00:32:19,480 Speaker 1: you only see the big successes, right, the multimillionaires and 615 00:32:19,520 --> 00:32:23,320 Speaker 1: the billionaires who did this several times. What part of 616 00:32:23,360 --> 00:32:26,320 Speaker 1: the journey deserves far more honesty? 617 00:32:26,880 --> 00:32:28,880 Speaker 2: Oh my gosh, yes, you see. 618 00:32:29,080 --> 00:32:31,040 Speaker 3: Even in my case, you see two hundred and thirty 619 00:32:31,040 --> 00:32:34,440 Speaker 3: five million dollar exit. You do not see the decades 620 00:32:34,600 --> 00:32:39,400 Speaker 3: I spent just grinding it out, flying and traveling and 621 00:32:40,080 --> 00:32:42,680 Speaker 3: you know, having the worst things that you could possibly 622 00:32:42,880 --> 00:32:48,160 Speaker 3: get sued. And then it's so tragic, so many mistakes, right, 623 00:32:48,200 --> 00:32:50,120 Speaker 3: And honestly, that's why I wrote a book about mistakes, 624 00:32:50,160 --> 00:32:52,680 Speaker 3: because I wanted to share it because everyone wait till 625 00:32:52,720 --> 00:32:54,800 Speaker 3: the end and they say, oh, look at this great exit. 626 00:32:54,840 --> 00:32:59,160 Speaker 2: But the reality is that exit is one. 627 00:32:58,960 --> 00:33:02,400 Speaker 3: Moment, and that journey was so hard, and I made 628 00:33:02,440 --> 00:33:05,080 Speaker 3: so many mistakes that I wish I wouldn't have, and 629 00:33:05,560 --> 00:33:09,080 Speaker 3: you learn from them and you grow. But reminding ourselves 630 00:33:09,160 --> 00:33:12,760 Speaker 3: that like it's a marathon, not a sprint. Success is 631 00:33:12,800 --> 00:33:15,080 Speaker 3: a very is a long game. And I think actually 632 00:33:15,080 --> 00:33:18,920 Speaker 3: in companies too, entrepreneurship and entrepreneurs are not built overnight. 633 00:33:18,960 --> 00:33:21,240 Speaker 3: The companies I invest in, it is a five to 634 00:33:21,280 --> 00:33:25,640 Speaker 3: ten year, day to day, twenty four to seven grind. 635 00:33:27,760 --> 00:33:30,480 Speaker 1: But it's motivating at the same time, right, it's fun. 636 00:33:30,520 --> 00:33:34,000 Speaker 1: It's so fun forward all the time in most cases, 637 00:33:34,040 --> 00:33:38,240 Speaker 1: at least so right now. As we said, we also 638 00:33:38,320 --> 00:33:41,920 Speaker 1: have listeners maybe in this situation right now, thinking about 639 00:33:42,120 --> 00:33:45,520 Speaker 1: the next great idea, good idea, and a long list 640 00:33:45,520 --> 00:33:48,520 Speaker 1: of reasons to wait. So if they don't act in 641 00:33:48,560 --> 00:33:52,400 Speaker 1: the next thirty days, what do you believe they will lose? 642 00:33:52,920 --> 00:33:54,800 Speaker 1: Not theoretically but in real life. 643 00:33:56,400 --> 00:34:00,320 Speaker 3: I think looking back at my own life right thinking, 644 00:34:00,320 --> 00:34:03,040 Speaker 3: you're listening right now, where do you want to be 645 00:34:03,120 --> 00:34:05,840 Speaker 3: one year from today? If it is not moving forward, 646 00:34:06,000 --> 00:34:10,560 Speaker 3: I would say you have failed yourself, truly, because we 647 00:34:10,600 --> 00:34:12,960 Speaker 3: should always be learning, we should always be growing, we 648 00:34:12,960 --> 00:34:15,600 Speaker 3: should always be taking that risk and pushing it to 649 00:34:15,640 --> 00:34:19,399 Speaker 3: the next level. And if you're not, and if you're 650 00:34:19,400 --> 00:34:22,440 Speaker 3: not stepping outside your comfort zone, if you're not taking risks, 651 00:34:23,640 --> 00:34:26,560 Speaker 3: you're going to regret it. And who you don't want 652 00:34:26,560 --> 00:34:28,359 Speaker 3: to regret, right, I don't want to look back as 653 00:34:28,360 --> 00:34:30,560 Speaker 3: I regret not doing it, because you will regret it, 654 00:34:30,719 --> 00:34:31,680 Speaker 3: and the market's moving. 655 00:34:31,719 --> 00:34:33,600 Speaker 2: There'll never be a better time to start. 656 00:34:33,800 --> 00:34:36,080 Speaker 3: It doesn't matter how old you are, it doesn't matter 657 00:34:36,120 --> 00:34:40,000 Speaker 3: how much experience you have. Nothing matters other than the 658 00:34:40,000 --> 00:34:42,919 Speaker 3: desire and the belief in your idea and the courage 659 00:34:42,920 --> 00:34:47,040 Speaker 3: would take that first step. So whatever fear you have 660 00:34:47,200 --> 00:34:49,759 Speaker 3: that you're telling yourself like, it's all a lie and 661 00:34:49,800 --> 00:34:51,080 Speaker 3: you're just making excuses. 662 00:34:52,560 --> 00:34:55,000 Speaker 1: What a great final statement of our conversation. And for 663 00:34:55,040 --> 00:34:57,600 Speaker 1: those who are interested, right and maybe would like to 664 00:34:57,640 --> 00:35:00,600 Speaker 1: reach out, So where can people find you? What is 665 00:35:00,600 --> 00:35:01,680 Speaker 1: the best? Please? 666 00:35:01,800 --> 00:35:06,440 Speaker 3: Yes, connect with me on LinkedIn, on Instagram, on my 667 00:35:06,560 --> 00:35:08,120 Speaker 3: website kimparel dot com. 668 00:35:08,160 --> 00:35:08,680 Speaker 2: I've got some. 669 00:35:08,680 --> 00:35:14,600 Speaker 3: Amazing tools for putting your dreams into actual reality and executing, 670 00:35:14,960 --> 00:35:17,239 Speaker 3: and I would love to connect. I love hearing about 671 00:35:17,239 --> 00:35:20,279 Speaker 3: the stories and actually, to your point, Christian, what are 672 00:35:20,320 --> 00:35:21,760 Speaker 3: you going to do in the next thirty days? 673 00:35:21,800 --> 00:35:23,200 Speaker 2: Please reach out and tell me. 674 00:35:24,000 --> 00:35:27,479 Speaker 1: Okay, So that's a clear call for everybody out there. Kim, 675 00:35:27,560 --> 00:35:31,680 Speaker 1: thank you so much for reminding us that success rarely 676 00:35:31,719 --> 00:35:34,280 Speaker 1: belongs to the most prepared. It belongs to the ones 677 00:35:34,360 --> 00:35:38,480 Speaker 1: willing to move forward and to everyone listening. The distance 678 00:35:38,520 --> 00:35:41,600 Speaker 1: between an idea and a life changing outcome is almost 679 00:35:41,760 --> 00:35:45,600 Speaker 1: always execution. As we now said, and learn, start before 680 00:35:45,640 --> 00:35:49,080 Speaker 1: you feel ready, because waiting might be the biggest risk 681 00:35:49,320 --> 00:35:52,320 Speaker 1: of all. I'm Christian Mucher and this is Possible Now 682 00:35:52,600 --> 00:35:57,919 Speaker 1: Stories of Possibilities. Thank you. If you're curious to learn 683 00:35:57,920 --> 00:36:00,719 Speaker 1: more about Possible, sign up for our newsage, or if 684 00:36:00,760 --> 00:36:03,040 Speaker 1: you want to join us at the Possible Show in Miami, 685 00:36:03,400 --> 00:36:07,600 Speaker 1: visit possibleevent dot com. Possible Now is a co production 686 00:36:07,680 --> 00:36:12,080 Speaker 1: of iHeartMedia and Possible. Our executive producers are Ryan Marx 687 00:36:12,160 --> 00:36:16,840 Speaker 1: and Jasmin Melendez. Our supervising producer is Meredith Barnes. Special 688 00:36:16,880 --> 00:36:20,640 Speaker 1: thanks to Colleen Lawrence Mack from our programming team. Our 689 00:36:20,719 --> 00:36:24,719 Speaker 1: theme music is composed by Anthony Ketticoli. For more podcasts 690 00:36:24,719 --> 00:36:28,840 Speaker 1: from iHeart, visit the iHeart app Apple podcast, or wherever 691 00:36:28,880 --> 00:36:30,400 Speaker 1: you listen to your favorite shows.