Growing For It!

Episode 11 of Growing For It - Coffee Talk #6 With Mik & Trav Mikkel and Travis discuss their experience with "shiny object syndrome" after securing new funding in early 2021. They emphasize the importance of a comprehensive budget and the need for a professional office environment to attract employees. They initially considered an IPO, influenced by their investor Peter, but later decided against it after advice from experienced board members. Despite securing a $1.5 million contract, it fell through, leading to financial strain. They highlight the importance of trusting one's gut and having multiple mentors guidance. Key take-aways: * Comprehensive budgeting and planning is crucial when scaling a startup, including accounting for small but important details like office supplies and equipment. * Founders should be cautious about over-optimistic financial projections and be willing to challenge advice from investors, even experienced ones. * Building an advisory board with seasoned industry experts can provide valuable guidance and help founders avoid costly mistakes, like pursuing an IPO prematurely. * Transparent communication with investors, highlighting both successes and challenges, is important for building trust and getting the right support. * Cash flow management is a constant challenge for hardware startups, requiring founders to be proactive about fundraising to ensure the business can continue operating. If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here: Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili [https://growing-for-it.captivate.fm/mili] Travis on LinkedIn: https://growing-for-it.captivate.fm/trali [https://growing-for-it.captivate.fm/trali] Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel [https://growing-forhttps//growing-for-it.captivate.fm/mikkel-it.captivate.fm/mikkel] Travis on Insta: https://growing-for-it.captivate.fm/travis [https://growing-for-it.captivate.fm/travis] Thanks to our sponsors: Shaping New Tomorrow [https://shapingnewtomorrow.dk/] State Energy [https://state.nu/en/] Vestermark Consult [https://www.vestermarkconsult.com/] Chapters: [0:00:00] Introduction - Shiny Object Syndrome [0:02:08] Comprehensive Budgeting and Office Environment [0:04:41] Mindset Shift and Investor Influence [0:06:10] Optimistic Budgeting and IPO Considerations [0:11:22] IPO Planning and Initial Challenges [0:15:12] Contract Fallout and Communication Issues [0:18:27] Advisory Board and IPO Decision [0:24:20] Cash Flow Issues and Fundraising Decisions

Episode 10 of Growing For It with Anne-Louise Thon In this episode, we welcome Anne-Louise Thon, a seasoned investor and VC partner. Anne-Louise shares her insights on what makes or breaks a startup's chances of getting funded by her VC firm, Vår Ventures (Vaar Ventures). She also reflects on her adventures experiencing different cultures around the world, and how those experiences have shaped her approach to investing. One of the key highlights includes Anna's pivotal moment working in Zimbabwe for 2 years, which shifted her perspective on the importance of supporting entrepreneurs and building businesses over traditional aid. She also discusses the challenges she faced implementing Western-style working conditions in Chinese factories, as workers preferred higher pay over improved facilities. Anna goes on to share how she and her partners built one of the first sustainable investment funds in Europe, and the skepticism they faced initially before proving the financial viability of sustainable investing. The criteria Anna looks for when evaluating startup pitches includes authentic, ambitious founders with a clear vision for impact. In terms of advice for founders on effective fundraising, Anna emphasizes the importance of having a strong storyteller on the team and being transparent about both financial and impact metrics. She also shares her personal experiences with failure and conflict in her entrepreneurial journey, underscoring the importance of having a supportive network to get through tough times. Overall, this episode provides valuable insights from an experienced investor who has seen entrepreneurship from multiple angles - as a founder, consultant, and now VC. Anna's global perspective and focus on sustainable, impactful investing offer inspiration for founders and aspiring entrepreneurs. Key Take-Aways: 1. Anna's pivotal experience working in Zimbabwe for 2 years shifted her perspective on the importance of supporting entrepreneurs and building businesses over traditional aid. 2. Anna and her partners built one of the first sustainable investment funds in Europe, overcoming initial skepticism by proving the financial viability of sustainable investing. 3. When evaluating startup pitches, Anna looks for authentic, ambitious founders with a clear vision for creating positive impact. 4. For effective fundraising, Anna advises founders to have a strong storyteller on the team and be transparent about both financial and impact metrics. 5. Anna's personal experiences with failure and conflict in her entrepreneurial journey highlight the importance of having a supportive network to navigate tough times. If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here: Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili [https://growing-for-it.captivate.fm/mili] Travis on LinkedIn: https://growing-for-it.captivate.fm/trali [https://growing-for-it.captivate.fm/trali] Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel [https://growing-forhttps//growing-for-it.captivate.fm/mikkel-it.captivate.fm/mikkel] Travis on Insta: https://growing-for-it.captivate.fm/travis [https://growing-for-it.captivate.fm/travis] Be sure to check out Anne-Louise Thon on LinkedIn: https://www.linkedin.com/in/annelouisethonjensen/ Thanks to our sponsors: Shaping New Tomorrow [https://shapingnewtomorrow.dk/] State Energy [https://state.nu/en/] Vestermark Consult [https://www.vestermarkconsult.com/] Chapters: [00:00 - 08:00] Chapter 1: From Advertising to a Life-Changing Experience [08:00 - 12:00] Chapter 2: Lessons Learned in Zimbabwe [12:00 - 16:00] Chapter 3: Implementing Change in China [16:00 - 21:30] Chapter 4: Building a Sustainable Investment Fund [21:30 - 24:30] Chapter 5: Evaluating Startup Pitches [24:30 - 28:00] Chapter 6: Memorable Investments and Due Diligence [28:00 - 30:30] Chapter 7: Fundraising Advice for Founders [30:30 - 33:00] Chapter 8: Encouraging More Female Entrepreneurs [33:00 - 38:30] Chapter 9: Navigating Failure and Conflict [38:30 - 42:00] Chapter 10: Balancing Work and Personal Life [42:00 - 45:00] Chapter 11: Directness and Authenticity in Leadership [45:00 - 50:00] Chapter 12: The Importance of Values in Investing [50:00 - 55:00] Chapter 13: Effective Communication with Investors [55:00 - 60:00] Chapter 14: War Stories and Business Partnerships [60:00 - 70:00] Chapter 15: Building a Support System [70:00 - 80:00] Chapter 16: Maintaining Optimism and Resilience [80:00 - 90:00] Chapter 17: Final Reflections on Entrepreneurship [90:00 - 100:00] Chapter 18: Parting Thoughts and Advice

Episode 9 of Growing For It - Coffee Talk #5 with Mik & Trav Mikkel and Travis discuss the challenges and milestones of their hardware startup, Airflight, in the first half of 2021. After securing pre-seed funding, they hired key personnel, including an expert in carbon fiber. They faced difficulties in hiring skilled local workers and had to build a $50,000 carbon fiber oven themselves for $3,000. The team successfully assembled a large drone, which was one of the biggest quadcopters at the time. Despite initial success, a load test failure and a crash during the first flight test caused setbacks. They emphasize the importance of resourcefulness and the emotional impact of physical prototypes in their entrepreneurial journey. Key take-aways: * Resourcefulness and Creative Problem-Solving Faced with the need for a large, specialized oven, Mikkel and Trav converted a shipping container into a custom-built solution for a fraction of the commercial cost. This ability to find innovative and cost-effective solutions was crucial in the early stages of their startup. * The Emotional Impact of Tangible Progress Watching the physical components of the AF100 drone come together was a profound emotional milestone, igniting their passion and belief in the project. Celebrating these tangible achievements can provide the necessary motivation to overcome future challenges. * The Importance of Safety and Structured Processes The incident during the load test was a wake-up call, highlighting the need to take safety more seriously and implement more structured processes as they moved forward with testing and development. Embracing this shift in mindset would be crucial as they continued to push the boundaries of their technology. Chapters: [0:00:00] Closing the Pre-Seed Round and Moving Forward [0:01:36] Hiring Challenges and Lessons Learned [0:04:54] Building a Custom Oven for Carbon Fiber Parts [0:09:10] The Emotional Impact of Physical Prototypes [0:14:17] Assembling the AF100 and Preparing for the First Flight [0:18:46] Safety Concerns and Leveling Up [0:22:19] The Crash and Dealing with Setbacks [0:24:00] Reflecting on the Roller Coaster Ride If you wanna learn more about our "Founders" initiative, DM us on our socials listed below: Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili [https://growing-for-it.captivate.fm/mili] Travis on LinkedIn: https://growing-for-it.captivate.fm/trali [https://growing-for-it.captivate.fm/trali] Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel [https://growing-forhttps//growing-for-it.captivate.fm/mikkel-it.captivate.fm/mikkel] Travis on Insta: https://growing-for-it.captivate.fm/travis [https://growing-for-it.captivate.fm/travis] Thanks to our sponsors: Shaping New Tomorrow [https://shapingnewtomorrow.dk/] State Energy [https://state.nu/en/] Vestermark Consult [https://www.vestermarkconsult.com/]

Episode 8 of Growing With it this time joined by Per Wimmer Per Wimmer, a global finance chair and adventurer, discussed his diverse background, including his law degrees and his role as an entrepreneur and philanthropist. He highlighted his achievements, such as the first tandem skydive over Mount Everest and his future space flight plans. Wimmer emphasized the importance of philanthropy, sharing his work with UNICEF and Global Angels, which funded orphanages in Nepal for five years. He also discussed his writing, media work, and the influence of figures like Buzz Aldrin and Elon Musk. Wimmer shared personal anecdotes, including his experiences with the homeless in Wales and his adventures in the Amazon, underscoring the value of empathy and giving back. Key take-aways: 1. The power of personal connection and empathy: Wimmer emphasizes the profound impact he experienced from directly engaging with and supporting those in need, like the young girl at the orphanage in Nepal. 2. The importance of balancing ambition with purpose: Wimmer's "Seven Wimmer Values" highlight the need to pursue one's passions while also giving back and inspiring others. 3. Embracing risk and learning from mistakes: Wimmer encourages entrepreneurs to take action on their ideas rather than waiting for perfect conditions, as mistakes and failures are essential for growth. 4. The role of culture and psychology in business success: Wimmer stresses that half of business and finance is about people, culture, and psychology, not just numbers and spreadsheets. 5. Finding inspiration in diverse experiences: Wimmer's adventures in the Amazon jungle and time with the homeless in Wales provided valuable philosophical insights that shaped his outlook and approach to life. Chapters: 1. [0:00 - 10:00] Introduction to Per Wimmer: Entrepreneur, Adventurer, Philanthropist 2. [10:00 - 25:00] Philanthropic Efforts and Giving Back to the Next Generation 3. [25:00 - 40:00] Inspirational Figures and the Pursuit of Dreams 4. [40:00 - 55:00] Navigating Risks and Setbacks in Space Exploration 5. [55:00 - 70:00] The Seven Wimmer Values: A Guiding Compass 6. [70:00 - 85:00] Connecting with the Amazon Jungle and the Simplicity of Life 7. [85:00 - 95:00] Balancing Adventure, Philanthropy, and the Demands of Modern Life 8. [95:00 - 110:00] The Importance of Culture and Psychology in Business Success 9. [110:00 - 125:00] Embrace Action and Learn from Mistakes 10. [125:00 - 135:00] Closing Reflections and Key Takeaways More: Mikkel [https://www.linkedin.com/in/10xmks/] – https://www.linkedin.com/in/10xmks/ Travis [https://www.linkedin.com/in/travis-james-mathers/] - https://www.linkedin.com/in/travis-james-mathers/ Per Wimmer [https://www.linkedin.com/in/perwimmer/]- https://www.linkedin.com/in/perwimmer/

Episode 7 of Growing For It - 4th Coffee Talk about Airflight! Mikkel and Travis discuss their journey of raising a pre-seed round for their company, starting with the emotional high of the grant funding and the subsequent challenges with a co-founder who gave up his equity. Afterwards, They aimed to raise $180,000 for 10% equity, initially feeling optimistic but learning the hard work involved. Despite initial setbacks, they refined their pitch, contacting 50 investors weekly, and eventually secured an investment. This investment, along with previous grants, allowed them to transition from bootstrapping to being fully funded, enabling them to hire staff and proceed with their product development of the flying crane. Key take-aways 1. Importance of Honest Communication and Recalibration: The founders were able to resolve the co-founder issue through open and honest communication, and they quickly recalibrated their expectations and approach when facing challenges during the fundraising process. 2. Building a Strong Pitch and Investor Relationships: The founders put in significant effort to refine their pitch, becoming more confident and articulate in their presentations. They also focused on building genuine relationships with investors, which helped secure their first investment. 3. Transitioning from Bootstrapping to Funding: The investment from Peter marked a pivotal moment, allowing the founders to move forward with hiring, purchasing equipment, and building their product. The importance of having a compelling vision and building trust with investors was crucial in this pre-seed stage. Chapters: [0:00:00] Team Dynamics and Co-founder Challenges [0:02:50] Fundraising Goals and Initial Optimism [0:04:35] Developing the Pitch Deck [0:07:09] Investor Outreach and Handling Rejections [0:11:30] Improving Pitch Skills [0:14:39] Meeting Peter and Securing the Investment [0:20:01] Celebrating the Success [0:21:39] Importance of Vision and Trust If you wanna learn more about our "Elite Founders Fundraising" program, DM us on our socials listed here: Mikkel on LinkedIn: https://growing-for-it.captivate.fm/mili [https://growing-for-it.captivate.fm/mili] Travis on LinkedIn: https://growing-for-it.captivate.fm/trali [https://growing-for-it.captivate.fm/trali] Mikkel on Insta: https://growing-for-it.captivate.fm/mikkel [https://growing-forhttps//growing-for-it.captivate.fm/mikkel-it.captivate.fm/mikkel] Travis on Insta: https://growing-for-it.captivate.fm/travis [https://growing-for-it.captivate.fm/travis] Thanks to our sponsors: Shaping New Tomorrow [https://shapingnewtomorrow.dk/] State Energy [https://state.nu/en/] Vestermark Consult [https://www.vestermarkconsult.com/]