In this episode of Feel the Boot, host Lance Cottrell delves into the concept of 'secret sauce' for startups. Learn why identifying and protecting your unique differentiator is crucial for attracting investors and maintaining a competitive edge. Cottrell shares insights on developing a valuable and defensible secret sauce, using trade secrets and patents, and the importance of articulating it effectively in your pitch deck. This video is a must-watch for early-stage founders seeking to innovate and secure their business's future.

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In this episode of 'Feel the Boot,' I address a common frustration among startup founders: investors who show strong interest but delay their commitment. I explain the reasons behind this behavior, such as risk minimization and strategic leverage, and provides actionable techniques for founders to expedite investor commitments. Key strategies discussed include structuring funding rounds in tranches, leveraging social proof, and utilizing time-critical events to encourage quicker investments.

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Startup Failure Analysis 🔎 Key Lessons from Abby Sugar

In this episode of Feel the Boot, host Lance Cottrell delves into the startup journey of Abby Sugar, the impressive founder of PlayOut Apparel, a gender-equal apparel brand. Despite the brand's promising concept and innovative approach, it ultimately failed. Abby bravely shares her experiences and the unique challenges she faced, providing valuable insights for early-stage founders. Topics covered include founder mental health, team dynamics, investor relations, and the impact of external market factors. This in-depth conversation offers actionable lessons for anyone navigating the complex world of startups.

Abby Sugar’s Bio:

Having worked as a writer, editor, and independent personal trainer, Abby Sugar is a lifelong learner and taught herself about fashion, business and startups after studying English Literature in college. Abby is a graduate of Barnard College, Columbia University, and studied abroad at Hertford College, Oxford University.

To Abby, learning is everything, and her life motto is f*cking figure it out – so she set out to build the brand that she and her cofounders wish existed when they were younger. As an outgoing, unapologetically queer startup founder, she strives to be a leading voice in and for the LGBTQ+ community. Abby founded Play Out Apparel in 2018 with her cofounder, Grey Leifer. As Play Out's CEO, Abby:

- Graduated from the Founder Institute as a Select Portfolio Company

- Raised $750K in pre-seed from mission-aligned investors and secured loan opportunities

- Won $20K from the National Business Inclusion Consortium’s pitch competition and $10K from Alibaba and HelloAlice (chosen as 1 of 50 winners from 12,000 applicants!), as well as winning other pitch competitions

- Shared her story in the New York Times and Forbes

After an incredible journey, Abby closed Play Out Apparel in 2024 to pursue other opportunities as a startup founder, consultant, and investor.

Abby was named to the Forbes Next 1000 List in 2021, she speaks on podcasts, international panels, and gives frequent interviews about startups, fashion, diversity and inclusion, and topics important to LGBTQ+ individuals.

Be sure to SUBSCRIBE to Multitudinous Musings, Abby's monthly Substack Newsletter, where she shares general educational articles about startups and investing, longform journalism, and poetry/literature that she reads - it's also known as Sugar's Recommended Reading. https://abbysugar.substack.com

LinkedIn https://www.linkedin.com/in/abbysugar/

Instagram https://www.instagram.com/a.n.other.sugar

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