Mike speaks to Jothy Rosenberg an incorrigible entrepreneur who has sold 9 of his tech startups for millions of dollars each. In this episode, Jothy explains how he does it and how you can do the same.

During this episode, Jothy covers assessing the viability of your idea, how to get the attention of investors and raise funds, honing your pitch, self-financing, building a team, the impact of dilution on equity, and much more.

KEY TAKEAWAYS

• Without product market fit your startup will fail.
• Product-based companies sell for multiples of 5 to 15 times revenue. Service companies typically sell for a multiple of 1.
• Use LinkedIn to find a lighthouse customer. An early adopter in desperate need of your solution who can afford to pay and will work with you.
• Launch big, invest in marketing.
• From day one, build your culture, that is how you attract your founder team.
• To be self-funded, start with a service, then build a product based on that.
• You can raise money before you make a single $.
• Approach the right type of funders at the right stages. Jothy explains how to handle JVs, seed funds, incubators, and more.
• Find investors on LinkedIn.
• Your pitch has to go beyond being good it has to tell a compelling story and include research and proof.

BEST MOMENTS

17:12 "Find a lighthouse customer … a kind of early adopter, who will work with you to make sure that what you're building solves their problem."

24:18 "We had this typical situation; we had this product and now we were looking for a problem and we never found one which was a disaster."

43.47 “You can raise money as a seed with a small foundational team, clear identification of a big opportunity and you don't need to yet be getting any revenue.”

45:12 "Don't just send a business plan to a VC."

1.05.43 “ I don't believe that in an early stage, anyone except the person who's got the vision and the most passion should deliver the pitch, but they can get help.”

1.13.15 “100% of nothing is still nothing… at the end of the day, the equity translates if you sell it.”

ABOUT THE GUEST

https://www.jothyrosenberg.com

https://www.linkedin.com/in/jothy

https://www.amazon.co.uk/Tech-Startup-Toolkit-Launch-Strong/dp/1633438422

ABOUT THE HOST

Meet Mike, a seasoned tech entrepreneur and visionary with over two and a half decades of invaluable experience in founding and scaling successful tech start-ups. Mike brings a wealth of firsthand knowledge and a deep understanding of the challenges faced by entrepreneurs and tech professionals.

As a host, Mike is dedicated to sharing actionable insights, strategies, and stories gathered from conversations with industry leaders, innovators, and experts. With a remarkable ability to distill practical wisdom from guests, Mike curates engaging discussions that resonate with both aspiring entrepreneurs and seasoned professionals.

ABOUT THE SHOW

Welcome to Mastering Tech Growth, where we dive deep into the strategies, challenges, and triumphs of scaling tech-driven ventures. Join us as we explore the dynamic world of technology businesses, uncovering the secrets behind successful growth trajectories. Each episode brings you candid conversations with founders and industry experts, sharing invaluable insights, proven tactics, and real-life stories. Whether you're a budding entrepreneur or a seasoned professional, discover the roadmap to navigating the complexities of scaling in the ever-evolving tech landscape.