Show notes
We’ve always found that even in public equities, you learn more once you have a live portfolio. One of the best ways to learn is to put some capital at risk. For this episode, I asked two VCs to sit down with me and Brett and treat the conversation as they would a normal pitch meeting, so that we, the audience, can get a peek into their world and the types of questions they ask. The venture capitalists in question are Thatcher Bell, of CoVenture, and Taylor Greene, of Collaborative Fund. The first voice that you’ll hear is Thatcher, and the next person asking questions is Taylor. I began by asking Thatcher to give us a bit of background on how he approaches young companies before diving in with questions of his own. Show Notes3:12 – (First Question) – getting a flywheel business going4:49 – Brett’s background and how that led to the formation of Ladder7:58 – Breakdown of the product9:29 – The sign-up process10:29 – Key problem for each party of the ladder transaction12:34 – Diving deeper into the problem of being a health coach14:29 – How does Ladder differentiate itself from other apps that help people locate a trainer17:01 – A deeper dive into the consumer using this product20:28 – The accountability factor being the moat for Ladder24:12 - How successful is the product right now in terms of recruiting new customers and trainers28:38 – Their pre-launch interview and research process31:49 – Going from hypothesis to product development35:25 – What should founders think about when doing customer discovery, even after they have a product in the market39:22 – Optimizing in the early stage of a business43:24 – The defensive moat of a startup46:20 – Their take on their ability to corner the coaches in this market49:57 – Is there a side of the producer/consumer side of the equation that is more important.55:42 – Getting and giving value to your supply, in this case the coaches58:22 – How to view different phases of a business1:00:43 – Growing the supply and demand so that neither side gets aggravated1:02:28 – Market opportunity for Ladder1:10:55 – Top 2 or 3 goals that Ladder has over the next 12-18 months1:13:00 – Looking at Ladder, what are the strengths and weaknesses as a potential investment1:20:40 – Pros and cons of a startup seeking institutional VC money1:25:11 – Reviewing the pitch
