Wondering whether you should focus on creating a profitable business or getting investors? I sat down with Nathan Heber, Founder & CEO of Boatyard, a mobile app that delivers "happiness on demand" to boat owners by linking them with boat services like fuel delivery, washing, and maintenance.  The company launched in 2014, has catapulted in growth since late last year, and was named Top Product 2015 by Boating Industry magazine.

Nathan is  one of the leaders in our Miami & South Florida tech ecosystem and has valuable lessons whether you're in a full time job and thinking of doing your own thing or already working in or leading a startup of your own, including:

- how his team stood by his side when the company was in trouble and he wasn't sure if he could make payroll

- why getting to profitability almost always beats getting Venture Capital funding (and why he pitched to Venture Capitalists early on even though he knew he'd get rejected)

- why you should spend your money on experiences instead of things and how Boatyard is trying to take a page out of Zappos' book by delivering happiness to boat owners.

Episode Highlights 

Entrepreneurial story

2:15 - Why he's always had the entrepreneurial bug

2:30 - Advice he'd give to someone in a 9-5 job they aren't fulfilled in

3:30 - Why not everyone is cut out for entrepreneurship

4:30 - Challenges and upsides of being an entrepreneur with a family

6:00 - Why nothing is more important than profitability

 

The Business

7:00 - How Boatyard came to be

9:15 - How his team stayed onboard through rough times, even when he couldn't promise payroll

11:45 - How at its core is a people company enabling amazing experiences

13:00 - Why buying experiences will make you happier than buying stuff

14:15 - How Boatyard generates revenue

16:00 - Why many "Uber for ____" businesses are taking a hit today

19:00 - Why they focus on making a small group of people happy versus appealing to the masses

 

Fundraising and approach to Venture Capital

20:15 - Hypothetical reasons why VCs might not invest in Boatyard

21:45 - How his perspective on fundraising has changed since launch

23:00 - How having a strategic partnership has helped grow their business

 

Wisdom for the Hustle

23:45 - Why it's important to have a mentor

24:45 - What the Nathan before launching Boatyard would think of the Nathan now

 

Closing questions

25:45 - Best advice he's received (from a children's book)

26:45 - Why he's a fan of Tony Hsieh and Zappos

27:15 - What he'd do if he were brand new to Miami and only had $500 to start a business

28:20 - Final advice to entrepreneurs

 

Mentioned in this episode

All My Friends Are Dead

Delivering Happiness

Tony Hsieh and Zappos