Extraordinary Pursuits by BIP Ventures

In this mini-episode of Extraordinary Pursuits, BIP Ventures financial performance authority Mike Vandiver talks with Stephen Bradshaw, a partner in Bennett Thrasher's state and local tax practice. They discuss ways that technology companies can navigate complex tax landscapes to stay compliant and gain advantages.

In a few short minutes, you’ll learn ways to minimize sales tax exposure, including business-to-business exemptions and obtaining exemption certificates. The conversation also covers ways to mitigate prior period exposure and the importance of charging sales tax to comply with regulations. The conversation provides valuable insights for technology companies looking to ensure compliance and strategic advantages.

Takeaways

• Technology companies should be aware of the opportunities to minimize sales tax exposure.

Standout Quotes

• "What are the opportunities to minimize or mitigate your sales tax exposure as you go through that process or just in general?"

About Stephen Bradshaw:

Stephen Bradshaw is a partner at Bennett Thrasher specializing in State and Local Tax, and a frequent speaker on the topic. His focus includes conducting nexus studies, advising on tax categorizations, negotiating voluntary disclosure agreements, preparing for diligence processes, and establishing best-practice procedures for automated sales tax software like Avalara. Stephen's insights have been featured in prestigious publications such as the Atlanta Business Chronicle, Accounting Today, Thompson Reuters, and the Georgia Society of CPAs. Before joining Bennett Thrasher, he spent five years at Deloitte Tax, LLP in the Multistate Tax Services division, providing state income/franchise tax consulting, compliance, and ASC 740 (provision) services to major corporate clients.

Let's Connect

Stephen Bradshaw

• LinkedIn: https://www.linkedin.com/in/stephenbradshawbt/

BIP Ventures

• Website: bipventures.vc

Focusing your sales strategy on ICP, buyer personas, and market segmentation is more than just identifying basic demographics, behaviors, pain points, and decision-making processes. It involves gaining a personal view of your potential customers and dividing the broader market into distinct groups. This targeted approach enables businesses to allocate resources more effectively, tailor marketing messages, and develop products that meet the unique needs of each segment.  

In this episode of the Extraordinary Pursuits podcast, Michelle Seger from SalesGlobe joins BIP Ventures Chief Performance Officer Christy Johnson to discuss the crucial distinction between the ideal client profile (ICP) and buyer personas. They explain ways to optimize resources and create market relevance by focusing on specific market segments, and they share tools early-stage companies can use to take a strategic approach to growth and earn market penetration. 

Timestamps: 

• [02:16] ICP and market segmentation and how they play in buyer persona 

• [07:23] Where to start working on ICP, buyer persona, and market segmentation 

• [13:05] How to leverage AI to find pain points for value proposition 

• [16:36] How to hone your vertical and bring up your close rate 

• [22:10] Focusing on your core and building a great brand presence   

• [26:09] Essential front-end motions that have to be done 

• [31:56] Enhancing buyer process by combining value and customer experience  

• [34:07] The buyer and how to identify the right buyer persona 

• [42:12] Michelle’s recommendations on how to get started with ICP 

Points of Wisdom: 

• “If you know who your ideal client profile is, then you are going to service them in the way they want to be serviced and offer the best product and services you are equipped to offer.” [03:44] 

• “Focusing on a vertical that has the greatest fit helps you develop your product and bring a ton of momentum to your company.” [20:12] 

• “There is no risk about missing out on the universe, focus on where you can win and the right people will find you.” [23:29] 

About Michelle Seger: 

Michelle Seger is the COO and partner at SalesGlobe, a firm dedicated to helping customers solve complex sales challenges by aligning their sales strategy with their bottom line to achieve profitable growth. With a deep expertise in sales change management, Michelle has extensive experience in mergers and acquisitions (M&A) and modern sales coverage models. At SalesGlobe, she leads the consulting operations and heads the private equity consulting services practice. Michelle is committed to helping leaders tackle their most significant sales challenges, enabling them to drive better revenue growth and achieve lasting success. 

Website: https://www.salesglobe.com/ 

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

BIP Ventures 

Website: www.bipventures.vc 

LinkedIn: https://www.linkedin.com/bipventures/ 

Instagram: https://www.instagram.com/bipventures/ 

Twitter: https://twitter.com/bipventures 

YouTube: https://youtube.com/@bipventures 

In this mini-episode of the Extraordinary Pursuits podcast from BIP Ventures, successful serial entrepreneur Jan Heybroek shares a skill he’s built in his entrepreneurial journey: the ability to simultaneously work in the business and on the business. The capacity to strike this balance is critical for staying ready for known and unexpected opportunities. Jan offers specific ways for founders to manage this challenge and a great case study for what can happen if you do.

Time Stamps:

• 02:24 The Role of Perseverance and Thinking Ahead

Points of Wisdom:

• Conviction in a market opportunity is a necessary starting point for entrepreneurs.

About Jan Heybroek:

Jan Heybroek is a serial entrepreneur with more than 30 years of senior leadership. He applies his knowledge and strategic marketing and product experience within life sciences and biopharma. He is particularly adept in building out new solutions, optimizing existing products and overseeing product portfolios to deliver industry and category-leading returns. Jan is also a thought leader in the areas of entrepreneurship, organizational partnerships, licensing and market insights.

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

Capturing earned media is one of the most powerful marketing tools a company can achieve. Positive, relevant, wide-reaching media coverage can literally change the trajectory of a startup’s future. But effective public relations is hard.

In this episode of Extraordinary Pursuits, journalist and Hypepotamus editor-in-chief Maija Ehlinger offers strategies for crafting and pitching compelling stories that resonate with publications and audiences. She explains how to strategically time announcements and storytelling opportunities to capture the attention of journalists and earn media. Maija also shares what works to capture earned media, why a great story often hides behind timely announcements, and how entrepreneurs can have more luck getting more coverage.

Earned media can increase brand exposure and reach, differentiate a company, build credibility, and establish a critical share of voice. As a technology and innovation journalist, Maija is the ultimate resource for any company seeking to understand how to use media strategically and effectively.

Tune in!

• [00:01] Intro and what’s in for you in today’s show

• “There is a real need for convincing storytelling, and it’s incredibly valuable to a young startup, but very few know how to harness it.”- [06:41]

Maija Ehlinger is the editor-in-chief of Hypepotamus (aka “Hype”), the leading innovation digital news source in the Southeast. Maija's experience as a journalist has given her the chance to cover companies of every size, from seed to enterprise, but her passion is innovation companies. She took the helm of Hype after spending close to five years at CNN.

Website: https://hypepotamus.com/author/maijaehling

LinkedIn: https://www.linkedin.com/in/maija-liisa-ehlinger

Website: www.bipventures.vc

LinkedIn: https://www.linkedin.com/bipventures/

Instagram: https://www.instagram.com/bipventures/

Twitter: https://twitter.com/bipventures

YouTube: https://youtube.com/@bipventures

Investing in skilled sales professionals or managers is essential for business growth. Knowing the right qualifications and characteristics to hire for should happen before any interview takes place.

In this mini episode of Extraordinary Pursuits, Christy Johnson speaks with John O'Brien, the founder, CEO, and managing partner of Sales Talent Group. They discuss the most necessary qualifications for the first hire in a startup, including cultural fit, adaptability, strong communication skills, passion for the product, willingness to take risk, alignment with the vision and mission, and a successful track record.

John and Christy highlight core competencies and behaviors to look for, such as being a top performer and having proficiency in the company's tech stack. They conclude with a conversation about attitude, aptitude, and desire as essential qualities for success in sales.

• [02:38] Cultural Fit, Adaptability, and Communication Skills

• "One of the big headlines is the cultural part...talking about an entrepreneurial spirit, because if there is only three or four members, the resources are lean and mean."

A seasoned executive in the field of sales, John specializes in placements across the United States. As the Founder, CEO, and Managing Partner of Sales Talent Group, he oversees the day-to-day operations of the Professional Sales Search Division, focusing on both outside and inside sales professionals across various leadership levels. With a track record of success, John has consistently ranked in the top three among over 600 nationwide sales professionals during his 15-year tenure at Lanier Worldwide. His experience includes roles such as Sales Manager in New Orleans, Louisiana, National Sales Trainer, and Director of Marketing & Sales Center in Atlanta, Georgia.

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

LinkedIn: https://www.linkedin.com/company/sales-talent-group/

Website: https://salestalentgroup.com/

Website: www.bipventures.vc

LinkedIn: https://www.linkedin.com/bipventures/

Twitter: https://twitter.com/bipventures

YouTube: https://youtube.com/@bipventures

Building and scaling a business requires a builder's mindset and a willingness to embrace risk. As a founder, your ability to envision solutions that effectively solve problems for your target audience is the key to progress. This involves stepping into uncharted territory, navigating uncertainties with resilience, and venturing forward to drive innovation and impact in the marketplace. Successful scale is driven by a blend of ambition, creativity, and the courage to take calculated risks.  

In this episode of the Extraordinary Pursuits podcast, Colleen Hoke from ObjectiveHealth shares experienced insights about why in-person relationships matter to a scaling business, how to set and achieve big and near-term objectives, and what it looks like to have a business model that can fuel problem identification and solutions.  

Timestamps: 

• [00:01] Intro and what is in for you in today’s show 

• [01:36] Colleen's background and her work in the clinical research field  

• [03:30] What sparked Colleen's drive to entrepreneurship   

• [06:21] ObjectiveHealth and the problem they are out to solve 

• [11:07] How to create and unlock scale in your business 

• [15:46] What Next: entrepreneurial superpower skills for scale 

• [18:45] How to build a rapidly growing team  

• [20:53] Tips on building in-person relationships and partnerships  

• [25:20] What ObjectiveHealth has on the horizon   

• [28:56] How to position your partners to be better partners 

• [29:44] The one thing that Colleen loves about her business 

Points of Wisdom: 

• “To be an entrepreneur, you have to have the magic of wanting to build and being okay with risks.” [04:29] 

• “To be a market driver and changer, find an area, a sweet spot that no one is paying attention to, and home in on that.” [13:52] 

• “If you want the keys to the kingdom, you have to be a partner and build the people holding the keys.” [23:25] 

About Colleen Hoke: 

Colleen Hoke is the founder and CEO of ObjectiveHealth. She is a seasoned leader whose experience in clinical research organizations, specialty providers, and healthcare entities has guided the company's formation and stunning progress. Founded in 2018, ObjectiveHealth is already a leading integrated research provider. It brings sophisticated healthcare to the mainstream and partners with physicians and healthcare organizations to establish advanced infrastructure for research programs. In doing so, ObjectiveHealth is improving patient outcomes in palliative care.   

Website: https://objective.health/ 

LinkedIn: https://www.linkedin.com/in/colleen-hoke-objective/ 

BIP Ventures 

Website: www.bipventures.vc 

LinkedIn: https://www.linkedin.com/bipventures/ 

Instagram: https://www.instagram.com/bipventures/ 

Twitter: https://twitter.com/bipventures 

YouTube: https://youtube.com/@bipventures 

Entrepreneur Support Organizations (ESOs) help people who want to start or grow their businesses. These organizations provide various resources such as advice, training, and funding. They might also offer workshops, mentorship programs, or networking events to connect entrepreneurs with experts and other business owners.

In this episode of the Extraordinary Pursuits podcast, Dr. Malcolm Muhammad joins BIP Ventures to talk about how support communities for entrepreneurs are evolving and what it means for anyone considering or working on building a new business. He explains the ESO model and identifies the ways they can help (or hinder) entrepreneurs as they overcome challenges and succeed in their ventures.

• [00:01] Intro and what is in for you in today’s show with Malcolm Muhammad

• “Entrepreneur Support Organizations (ESO) as the name suggests, exist to support businesses. They are not there to do it for you or give you ideas or strategies. It is your job as an entrepreneur to ensure that you are leveraging that support.”- [23:07]

Dr. Malcolm Muhammed is vice president of engagement and outcomes at the Russell Innovation Center for Entrepreneurs (RICE). It is an economic mobility engine that provides black entrepreneurs and small business owners with the resources needed to innovate, grow, and build wealth. In his day-to-day work, Malcolm focuses on his efforts and experience in unlocking the full potential of the RICE community of entrepreneurs and managing a powerful evidence-based framework for scaling black businesses.

• LinkedIn: https://www.linkedin.com/in/malcolm-muhammad-phd-a17a8640/

• Website: www.bipventures.vc

Key Performance Indicators (KPIs) are essential metrics for any company. For startups – particularly those that are backed by private capital – KPIs are not only necessary for setting a path to manageable growth, but they also are critical indicators for investors. 

KPIs can include metrics like revenue growth, profit margins, customer acquisition costs, and return on investment (ROI). Individually and collectively, they provide a snapshot of a company's overall health and performance. Investors use these metrics to gauge a company's performance and potential for future growth. Strong KPIs attract investors by demonstrating that the company is financially sound and has a good chance of providing a profitable return. Conversely, weak KPIs might signal potential risks, making investors cautious. 

This episode of Extraordinary Pursuits features John Thackston, the CEO of SOAR Performance Group. A business and sales performance expert and consultant, John designs, develops, and implements Sales Capital Management℠ projects that help B2B companies adopt new go-to-market (GTM) strategies and enhance their bottom line. He is a sought-after guest speaker and panelist who frequently shares advice about why KPIs matter for early-stage companies and what investors look for in the metrics. 

What You Will Learn: 

• [00:01] Intro and what is in for you in today’s show with  John Thackston 

Standout Quotes: 

• “Key Performance Indicators (KPIs) are metrics that show whether the business is performing, in what way, and in what periods of time.”- [02:29] 

Let’s Connect! 

John Thackston 

LinkedIn: https://www.linkedin.com/in/john-thackston/ 

Website: https://soarperformancegroup.com/ 

SOAR LinkedIn: https://www.linkedin.com/company/soar-performance-group-inc-/  

Rachelle Kuramoto 

LinkedIn: https://www.linkedin.com/in/rachellekuramoto-atlanta/ 

BIP Ventures 

Website: www.bipventures.vc 

LinkedIn: https://www.linkedin.com/bipventures/ 

Instagram: https://www.instagram.com/bipventures/ 

Twitter: https://twitter.com/bipventures 

YouTube: https://youtube.com/@bipventures 

To become a Top Five innovation community, Atlanta needs to produce 2000 companies per year—that's 10 times the number of companies we’re currently developing. 

In the full episode, Donnie Beamer, the Senior Technology Advisor for the City of Atlanta, discusses the ATL Tech Hub initiative and the city's efforts to become a top five innovation and technology investment ecosystem. The conversation highlights the importance of technology in creating a safe and effective city, as well as the need to provide opportunities for all residents. They also discuss the unique advantages of Atlanta, such as its diverse industries and accessible community. The episode concludes with a discussion on the city's plans to increase capital availability and support student entrepreneurs through a co-op program and pitch competition.

Takeaways

• The ATL Tech Hub initiative aims to make Atlanta a top five innovation and technology investment ecosystem.

Standout Quotes

• "To be a safe city, one that's a government that's effective, a place that's built for the future, all that is gonna require technology."

About Donnie Beamer

Donnie Beamer, CFA was appointed by Mayor Andre Dickens as Atlanta’s first-ever Senior Technology Advisor. He serves as the Mayor’s chief liaison with the tech sector and assists with shaping policy and programs to grow the ecosystem. Beamer also works with Invest Atlanta to attract new companies to the city, grow existing ones and advises the Administration on fostering Atlanta’s technology workforce.

Prior to joining the City, Beamer was the General Manager of LotVision Automotive at Cox2M, Cox Communication’s commercial IoT business line and was responsible for the product roadmap and strategy for their flagship vehicle tracking and telematics platform.

Beamer was also an Atlanta tech entrepreneur, leading the Monsieur team that created an automated bartending system that was deployed in movie theaters, hotels, and sports & entertainment venues. Although his first job out of undergrad was in investment management at BlackRock in NYC where he served institutional clients and earned his CFA charter.

Beamer studied Economics as a Division I student-athlete at the Georgia Institute of Technology and earned an MBA from The Wharton School at UPenn.

Social Channels – Company

LinkedIn: @city-of-atlanta

You can learn more about them at https://www.atltechhub.com/

Social Channels – Guest: Donnie Beamer

LinkedIn: @donniebeamer

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

About Mark Buffington

Mark Buffington is the founder of BIP Capital and the Managing Partner of BIP Ventures. Since founding BIP Capital in 2006, Mark has led the venture capital firm to its position as one of the most active and recognized brands outside of Silicon Valley.

Mark has led investment rounds in more than 80 companies in numerous industries (Healthcare, Digital Media, Ed Tech, Enterprise SaaS, FinTech, and Advanced Computing). Notable investments include Vendormate, Ingenious Med, QA Symphony/Tricentis, PlayOn! Sports, Huddle Tickets, Tropical Smoothie Cafe, Cypress.io, ConnexPay, REACH Health, Trella Health, Shareholder InSite and Aspirion Health Resources.

Mark earned an MBA from the A.B. Freeman School of Business at Tulane University and a B.S. from the Georgia Institute of Technology (where he lettered as a varsity baseball player).

Mark serves on the board of directors of several companies, including the NFHS Network, AchieveIt, Trella Health, PlayOn! Sports, UserIQ and ConnexPay. He also serves on several nonprofit boards, including Buckhead Coalition, Inc. and the Georgia Tech College of Computing.

As any seasoned entrepreneur will tell you, starting and running a business is challenging. In fact, almost 90% of new startups fail—10% of those fail within the first year. The causes range from poor product-market fit to ineffective marketing, talent issues, and cash flow problems. Even with a real challenge to solve and the desire and grit to try, entrepreneurs need more to survive and thrive.

Entrepreneurs require proper preparation and support, along with clarity about the market and their customers, and a solid business plan. Continuous learning and seeking advice from mentors can provide valuable insights and help make better decisions. With the right steps and support, entrepreneurs can increase their chances of success.

In this episode, serial entrepreneur Jan Heybroek joins host Rachelle Kuramoto to share what he wished he had known early in his entrepreneurial journey. He explains why conviction in a market opportunity is a good starting point, how to confirm product market fit, why thinking ahead is a critical skill, and why perseverance is a core quality for any founder.

Tune in!

• [00:01] Intro and what is in for you in today’s show with Jan Heybroek

• “Entrepreneurship is something that many people aspire to. Quite a few try it and there’s a lot of failure.”- [01:58]

Rachelle Kuramoto

LinkedIn: https://www.linkedin.com/in/rachellekuramoto-atlanta/

Jan Heybroek

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

Website: www.bipventures.vc

LinkedIn Podcast: https://www.linkedin.com/showcase/extraordinary-pursuits-podcast

LinkedIn: https://www.linkedin.com/bipventures/

Instagram: https://www.instagram.com/bipventures/

Twitter: https://twitter.com/bipventures

YouTube: https://youtube.com/@bipventures