Now We Build

Ep 14 - Adam Spector on launching and exiting LiftIgniter before anyone cared about machine learning, lessons from over 200 angel investments, and why contentment as a founder is key.

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In this conversation, Adam Spector shares his extensive experience as a four-time founder and angel investor, discussing the evolution of AI and machine learning, the challenges of building startups, and the importance of focus and delegation. He emphasizes the need for founders to measure the value they provide, control their narrative, and recognize when to pivot or move on. Adam also highlights the significance of obsession in successful founders and the power of compounding in entrepreneurship, while contrasting the journeys of bootstrapped versus VC-funded startups.


Keywords


AI, machine learning, angel investing, startup trends, B2B SaaS, founder traits, delegation, bootstrapping, compounding, entrepreneurship


Takeaways


  • Having a larger base of investments reduces risk.
  • AI's impact on business should be considered but not overemphasized.
  • Founders should focus on delivering delightful outcomes for customers.
  • Measuring the value provided by a product is critical for success.
  • Control your narrative to ensure clients recognize your value.
  • Delegation is key; focus on what only you can do.
  • Successful founders are often obsessed with their vision.
  • Compounding is essential for long-term success in entrepreneurship.
  • Don't jump jobs too often; build your skills and network.
  • Bootstrapping can lead to contentment and ownership of your journey.


Titles


  • The Evolution of AI in Startups
  • Key Traits of Successful Founders


Sound Bites


"AI is going to provide value and dramatically change lives."

"You need to control your narrative."

"Focus on what is going to get delightful outcomes."


Chapters


00:00 Introduction and Background of Adam Spector

01:43 The Evolution of AI and Machine Learning

04:28 Building LiftIgniter: Challenges and Lessons Learned

07:48 Trends in B2B SaaS and Founder Focus

10:42 Measuring Value in Product Offerings

12:25 Controlling the Narrative for Founders

14:40 The Importance of Delegation and Focus

18:00 Key Traits of Successful Founders

21:31 The Power of Compounding in Entrepreneurship

23:42 Contentment in the Founder Journey

26:51 Bootstrapping vs. VC Funding

30:52 Compounding Skills in Startup Careers

34:15 Hacks for Building a Successful Startup

36:47 Obsessive Founders: A Case Study



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Now We BuildBy Sam Marchant