Funding for AgTech Startups with Jim Schultz

Funding for AgTech Startups with Jim Schultz

https://OpenPrairie.com [http://OpenPrairie.com] Jim Schultz from Open Prairie talks about Funding AgTech Startups Agricultural Tech Investment Discussion Mary welcomed attendees to the "Stuck Time to Improv" session and introduced Jim Schultz, an investor, as the guest speaker. The discussion focused on the agricultural tech industry, highlighting its potential for startup businesses and the importance of preparation when approaching investors. Agtech Investment Strategy Requirements Jim discussed his focus areas in agtech, including automation and robotics, data optimization for farmers, and biologic technologies replacing synthetic chemicals. He outlined three key requirements for considering new equipment or technology proposals: understanding the channel strategy for reaching farmers, having field trial data across different crops and conditions, and having expertise on the team through advisors or board members. Agricultural Technology Entry Mistakes Jim discussed common mistakes made by new entrants in the agricultural space, highlighting three key issues: implementing a direct-to-farmer channel strategy, which he noted is difficult and slow to build revenue; and insufficient field trial data to prove technology effectiveness. Jim provided an example of a hypothetical robot weeding technology, suggesting the need for proper testing and validation before market entry. Field Trial Data Distribution Strategy Jim discussed the importance of understanding field trial data, particularly when testing different crops like tomatoes, cabbage, and corn. He suggested that ag retailers and farm co-ops, rather than traditional Cooperative Extension services, are better channels for reaching farmers. Jim provided an example of The Equity co-op in Effingham, Illinois, which has approximately 8,000 farmer members, highlighting the potential reach through such partnerships. Mary confirmed the need for beta testing with farmers. AI Deployment in Agriculture Opportunities Jim discussed potential AI deployment opportunities, particularly in John Deere's FieldView technology which provides farmers with field insights from tractor and combine diagnostics. He noted that while higher-yielding crops might not always taste better, there are opportunities to modify crops for different properties like oil content in soybeans or fiber content in corn. Jim also mentioned current market prices for soybeans and corn, explaining that farmers need prices around $12.50 for soybeans and $5 for corn to be profitable, which is above current trading levels. Agricultural Technology Investment Opportunities Jim discussed investment opportunities in agricultural technology, highlighting the potential for premium opportunities in corn and soy production, as well as organic farming initiatives. He emphasized the importance of a well-prepared marketing deck, including details on channels, field trials, team composition, and financial models for potential ag tech companies seeking investment. Jim noted that out of 500-600 deals reviewed annually, only 2-4 are funded, underscoring the need for strong presentations to get through the selection process. Some useful links: Open Prairie - https://www.openprairie.com/ [https://www.openprairie.com/] The Equity - https://www.theequity.com/ [https://www.theequity.com/] Shenandoah Valley Organics - https://www.farmerfocus.com/ [https://www.farmerfocus.com/]

Investor Ready Financial Projections with Kelvin Taylor

https://businessriff.com [https://businessriff.com] https://tayloredanalytics.com Financial Projections That Are Investor Ready with Kelvin Taylor, Taylored Analytics Financial Projections for Entrepreneurs Mary and Kelvin discussed the components of financial projections for entrepreneurs, particularly focusing on total addressable market (TAM) and its importance to investors. Kelvin explained that investors evaluate business scalability based on the size of the market opportunity, noting that a business with a larger market opportunity, such as $100 million versus $1 million, tends to have a higher valuation. Financial Forecasting and Cash Flow Kelvin discussed the importance of understanding and validating assumptions in financial forecasting, emphasizing that entrepreneurs should focus on cash flow statements alongside profit and loss statements and balance sheets. He compared cash to air for a business, highlighting that even if a business is profitable and growing, it can still face peril if it runs out of cash. Kelvin also stressed the need for entrepreneurs to clearly articulate their go-to-market strategy when presenting financial forecasts to investors. Social Media Marketing Metrics Discussion Mary and Kelvin discussed the importance of understanding metrics like reach and click-through rates when using social media for marketing. Kelvin explained that go-to-market strategy involves accessing potential customers, while product market fit refers to the sales pipeline as an indicator of market demand. Product-Market Fit Research Strategies Kelvin and Mary discussed the importance of product-market fit in go-to-market strategies, emphasizing the need for unbiased market research to ensure sales pipelines reflect genuine customer interest. They highlighted that early research involving potential customers can prevent wasted time and effort, while cautioning against relying solely on friends and family for feedback. Kelvin shared his experience about the challenges of asking for sales at market rates, noting the need for thick skin and courage in entrepreneurship. Pricing Strategy Discussion Kelvin and Mary discussed pricing strategies, focusing on price-led costing and cost-plus pricing approaches. Kelvin explained that price-led costing involves determining the price first based on market research, while cost-plus pricing calculates the price by adding a desired margin to the cost basis. Kelvin emphasized that price-led costing is superior but stressed the importance of conducting market research to set appropriate prices, warning against unilaterally deciding prices without understanding market willingness to pay. Pricing and Brand Value Discussion Kelvin and Mary discussed pricing strategies and brand value, with Kelvin explaining how competitors use inflated cost bases to set higher prices, while Mary emphasized the importance of having intangible value that customers are willing to pay for, like the design difference between PCs and Macs. They agreed that brand value allows companies to command higher prices when all other factors are equal. The conversation ended with Mary thanking Kelvin for the discussion and mentioning that contact information would be shared in the comments.

Mistakes Tech Startups Make with Stacia Thompson from Radiance Consulting & Coaching Groupe

https://businessriff.com [https://businessriff.com] Mistakes Tech Startups Make with Stacia Thompson from Radiance Consulting & Coaching Groupe Tech Founder Growth Challenges Mary and Stacia discussed common mistakes made by tech founders, particularly during the dot-com crash when founders excelled at starting companies but lacked experience in running and growing them. Stacia noted that many tech startups failed after the initial growth stage due to insufficient operational expertise and failure to bring in experienced personnel. She also mentioned similar patterns emerging with the rise of AI, where companies are rushing to implement AI solutions without proper strategic planning. AI Implementation Strategy Challenges Stacia warned that many companies are failing with AI implementations because they're treating it as a separate system rather than natively integrating it into their core products. She noted that while some founders are overusing AI without proper compliance and governance, others aren't leveraging AI at all, putting them at a competitive disadvantage. Mary emphasized the importance of beta testing with specific clients and internal sandbox testing before full implementation to ensure viability and determine pricing. AI Partnership Evaluation Guidelines Stacia advised that organizations should first ask potential AI partners whether they are currently using AI and what specific AI products they are using. She emphasized the importance of understanding how organizations build prompts, comply with governance requirements, and use AI ethically. Stacia shared an example of a successful eight-figure company that gradually introduced AI adoption through careful guidance and monitoring, though she noted challenges with security when using large AI models outside protected environments. AI Policy Implementation Best Practices Stacia discussed the importance of organizations providing clear background information and reasoning when implementing AI policies, particularly emphasizing the need to verify data ownership to avoid leaking confidential information into large AI training models. She highlighted the challenge of entrepreneurs being drawn to "shiny objects" in AI technology without properly evaluating whether existing tech stacks can already meet their needs. Tech IP Protection Strategies Stacia and Mary discussed the importance of thorough research and IP protection for tech founders. Mary talked about the importance of Beta testing the product. Stacia emphasized that founders should not rush to implement new features without proper market validation, citing the example of having 29 trademarks for Radiance. They agreed that protecting company names, logos, and taglines is crucial for business success. Book a call - https://calendly.com/businessriff/15min Other links www.linkedin.com/in/staciat34 https://www.facebook.com/rccgroupe https://www.facebook.com/Stthomps/ https://www.instagram.com/staisch/ https://www.instagram.com/staciarccg/

Set Up Sales for Success with Ben Kniffen

https://lushin.com [https://lushin.com] Ben Kniffen from LUSHIN talks about How to Set Up a Sales Team Sales Team Development for Startups Mary and Ben discussed the importance of building a sales team for startup scalability. Ben explained that companies typically start with founder-led sales but eventually need to transfer skills and hire team members, as sales roles are particularly challenging to fill. The discussion highlighted the need for startups to address sales team development as they grow beyond founder-led sales. Founder Sales Hiring Best Practices Ben discussed the common mistake founders make when hiring sales team members, emphasizing the importance of focusing on capabilities rather than experience. He explained that companies often get attracted by candidates with similar experience but fail to verify their actual sales capabilities. Ben highlighted the need for salespeople to possess strong tactical skills, a high level of grit and will-to-sell, and positive sales DNA to effectively contribute to the team. Sales Evaluation Methods Discussion Ben discussed how he evaluates salespeople, starting with a data-driven approach using the Objective Management Group (OMG) sales assessment tool, which has evaluated over 2 million salespeople. He emphasized the importance of not relying solely on the assessment results and instead putting candidates in selling situations to verify their skills through role-playing and observing their conduct in sales meetings and cold calls. Sales Team Structure and Roles Ben explained the typical structure of a good sales team, highlighting two key roles: hunters (BDRs/SDRs who generate sales appointments) and closers (account executives who move deals through the sales process). He noted that effective sales leadership is crucial for managing these roles, whether led by a founder or VP of sales. The discussion concluded with Mary thanking Ben for his insights and promoting BusinessRiff.com for startups seeking guidance. Newsletter: https://ultimateseller.com LinkedIn: https://www.linkedin.com/in/benkniffen/

Tips to Start a Coaching Business with Dr. Yvonne Oswald from Global Welcome

https://globalwelcom.com [https://globalwelcom.com] How to Start a Coaching Business with Dr. Yvonne Oswald from Global Welcome Coaching Business Startup Discussion Dr. Yvonne Oswald was introduced as a guest expert from Global Welcome, and the discussion was set to cover topics including "Wealthy Mind, Wealthy Wallet" and business setup tips. Coaching Business Best Practices Dr. Yvonne shared insights on running a coaching business based on 30-40 years of experience. She advised that coaching businesses should prioritize simple websites over complex ones, recommending a single-page Wix site, and emphasized the importance of personal recommendations over elaborate online presence. She also suggested using business cards with photos and framing them as referrals rather than direct coaching offers to potential clients. Meditation Content Recording Techniques Dr. Yvonne and Mary discussed offering music for creating meditation content, with Dr. Yvonne suggesting using an MP3 recording on a phone with background music. Mary clarified important copyright considerations, explaining that while older compositions like Pachelbel's Canon might be public domain, new recordings with different artists' performances remain copyrighted. Music Coaching and Newsletter Strategy Dr. Yvonne advised Mary on giving away music files in coaching sessions in order to capture emails and build a newsletter list. She suggested offering a 20-minute MP3 recording to clients as a value-added service, which helps establish email contact for the newsletter. She also shared her strategy for pricing sessions at $150-$175 per session, with a third lower price option as a negotiation tool. Therapy Pricing Strategy Discussion Dr. Yvonne discussed pricing strategies for therapy sessions, emphasizing that rates should be based on "sessions" not "hours" and not fall below $75-80 for individual sessions and $50 for group sessions. They explained their approach of requiring clients to submit written details about their issues before sessions to ensure commitment and prevent cancellations. Dr. Yvonne outlined a package structure for four-hour sessions, including follow-up sessions and goal setting, priced at a minimum of $1750 for three or four sessions. Life Coaching Business Strategies Dr. Yvonne Oswald shared her approach to conducting life coaching sessions, emphasizing the importance of asking clients about their values and using a free downloadable guide for starting a life coaching business. Mary Scott from BusinessRiff discussed the benefits of booking a call with her service to help startups succeed. The conversation concluded with plans to share the free download link in the comments for everyone to access. Free gift for listeners/watchers Wealthy Mind Wealthy Wallet https://globalwelcome.com/freegifts2026 [https://globalwelcome.com/freegifts2026] life coaching,coaching business,networking tips,coaching prices