Powderkeg - Unvalley

Last Thursday evening, in front of an audience of more than 600 tech entrepreneurs, professionals and investors, I had the privilege of making a monumental announcement.

My company, Verge—a community of over 10,000 members in 8 cities across the country—is merging with Powderkeg and reinventing itself as a product company that will continue to serve this incredible community in new and exciting ways. Over the coming months, my team and I will be building a software product that will connect our members to Events, Exposure and Education in ways that have never before been possible for us.

In this episode of our podcast—which will continue to be a key component of our evolving mission—we’ve decided to share the pitch I delivered last week for the reimagined Powderkeg. I also pulled aside Mike Kelly from our Indianapolis-based partner, DeveloperTown, to provide high-level feedback on our initial product ideas as well as some expert insights you can apply to your own product-building process.

As we embark on our new journey at Powderkeg, we’re so thrilled to be taking our whole audience with us and listening to your feedback at every step along the way.

My ongoing search for the best and brightest tech entrepreneurs outside Silicon Valley leads me to a lot of remarkable founders building incredible companies all around the world. But for this episode of Powderkeg: Igniting Startups, I decided I’d look closer to home and consult with a few gifted minds inside my very own office.

Robert Harris and Kevin Bailey are my colleagues at Powderkeg and its parent company, Verge, and they’re also two of the smartest and most talented people I know. They both have years of experience scaling tech companies and launching multi-million dollar products, and I’m thrilled to have them serving now as my CTO and CMO, respectively. I can personally testify they’ve both done amazing work over the past few months building a new and exciting product of our own (but that’s a story for another day).

Harris, Bailey and I go deep into all things product-related in this episode. From identifying market opportunities to building the first MVP and evolving the product to meet business needs, we touch on many of the important decisions you’ll need to consider throughout your product’s life cycle. As an added bonus, the two also share some exciting and hilarious stories of their past adventures in entrepreneurship and product creation.

Enjoy the episode, and don’t forget to thank Harris and Bailey on Twitter @ilaunchtech and @KevinJBailey for sharing some of the wisdom and advice they’ve accumulated over the course of their impressive careers. And you should definitely consider updating your reading list with a few of the outstanding business books they recommend!

In this episode with Robert Harris and Kevin Bailey, you’ll learn:

-- All about their first experiences with product development

-- The power of a guiding ideal, or “north star,” for your business or product

-- Why you sometimes have to fundamentally change your business to scale effectively

-- The role knowledge and intuition play in leading a business

-- Expert advice on validating a product and identifying your target market

-- Great products you can use as inspiration and guideposts in your own product development

-- Their top three business book recommendations

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

We talk a lot about the power of great mentors here on Powderkeg: Igniting Startups, and today I’m thrilled to introduce one of the most influential mentors I’ve had in my life. Tim Kopp is an experienced brand and digital marketer who’s taught me much of what I know as well as coached me throughout my evolving entrepreneurial journey.

When I first met Kopp, he was CMO at ExactTarget, the Indianapolis SaaS startup that sold to Salesforce in 2013 for $2.5 billion. Prior to his time there, Kopp spent a decade with the world-renowned marketing teams at Procter & Gamble and Coca-Cola, working on the front lines during the digital marketing revolution. He’s now a Partner at the Indianapolis branch of Hyde Park Ventures, where he continues to coach local tech startups and connect them to the access to the capital they need to grow.

Kopp has learned many innovative marketing strategies over the years, and we dig into some of his best secrets in this episode. He also shares personal stories to illustrate his points, giving me an inside look into how he handled a marketing crisis at Coca-Cola and how he revamped ExactTarget’s marketing campaigns after taking over as CMO.

Kopp is more than willing to share his wealth of knowledge, which extends far beyond what we had time to discuss in this interview. For even more industry-leading marketing advice, check out his blog at CMO to VC, which covers a wide variety of topics from leadership and venture capital to sales and marketing. Then find him on Twitter @tbkopp and let him know what you think about his insights!

In this episode with Tim Kopp, you’ll learn:

-- Why marketers are first and foremost agents for change

-- Advice for finding a career path that suits your unique abilities

-- How great mentors can help you discover your next career step

-- Why marketers need to identify their company’s messaging and positioning first

-- Proven strategies for revamping your company’s marketing efforts

-- The true work VCs do above and beyond signing checks

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

“Cash is king,” the old saying goes, and every entrepreneur will realize at some point along their journey that their business can’t run smoothly without a good financial model. But the intricacies of bookkeeping and accounting can be a bit daunting without a knowledgeable guide, which is why I found two to help me navigate this thorny issue.

My first guest, Tom Gabbert, has 25 years of experience in financial management under his belt. He’s also the founder of mAccounting, an Indianapolis-based firm that provides controllership and CFO services to startups and small businesses that need some help with their finances. Joining him is Santiago Jaramillo, an entrepreneur based in nearby Fishers, IN and the CEO of Emplify, a mobile SaaS platform that helps companies assess employee engagement through surveys and analytics.

Gabbert and Jaramillo joined me at the recording studio of one of our partners, Edge Media Studios, for Powderkeg’s first ever livestreamed episode. In this episode, we break down financing from both an accountant’s and an entrepreneur's perspective, exploring the topics of recurring revenue models, top-down vs. bottom-up business perspectives, balancing optimistic and conservative projections and much more.

The nuggets of wisdom you’ll find in this episode will set you on the right track to building a money-smart business with potential to scale. And once you’re finished listening, I’d also like to point you to our free proud to offer a free financial cheat sheet, put together by our friends at mAccounting, that you’ll definitely want to look at if you have plans to raise capital anytime soon.

In this episode with Tom Gabbert and Santiago Jaramillo, you’ll learn:

-- Common mistakes to avoid when building your company’s financial model

-- Tips for combating churn under recurring revenue models

-- Why you need both top-down and bottom-up perspectives to grow your business

-- How to balance optimistic and conservative financial projections

-- Financial and legal considerations for companies preparing for acquisition or IPO

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

Michael Litt (@michaellitt) is the CEO and co-founder of Vidyard, a leading provider of video hosting software for businesses and the kind of high-growth company you might expect to find in Silicon Valley. Although the company completed the prestigious Bay Area accelerator Y Combinator, it began and continues to operate in Kitchener, Ontario.

CEO Michael Litt co-founded Vidyard in 2011, and the company has since raised over $60 million and gained world-class brands like LinkedIn, Lenovo, Sharp, Rockwell Automation, Honeywell and Cengage as customers. Litt credits much of Vidyard’s success to the thriving entrepreneurial communities of Kitchener and nearby Waterloo, as well as the co-op program at his alma mater, the University of Waterloo, that helped him build a company that solved a real business need.

Litt and I met last year at the Salesforce user conference, Dreamforce, to record this interview. As we sat in the green room on beanbag chairs, Litt shared some of his most valuable secrets behind Vidyard’s growth. Among them are the foresight he had to take an amazing opportunity over a quick paycheck, his perseverance in the face of investors and customers saying “no,” and of course, the power that video can hold for enterprise businesses.

When you’re finished listening to this week’s episode, head over to Vidyard’s website to learn more about the company and its products, and reach out to Litt on Twitter @michaellitt to tell him what you thought of the show.

In this episode with Michael Litt, you’ll learn:

-- How a co-op education can help you launch a successful business

-- The kind of traction you can find by solving real problems in your industry

-- Why you should sometimes choose a great opportunity over a large paycheck

-- The most important kind of validation a startup can have

-- Why you shouldn’t give up when someone says “no”

-- How you can use video to pitch customers and investors

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

If your business doesn’t have a clear, step-by-step process for turning curious consumers into paying customers, you could be losing revenue in missed opportunities. Fortunately, marketing whiz Russell Brunson provides expert advice in this week’s episode on capturing leads through the use of sales funnels and storytelling.

Taking an early interest to marketing, Brunson has become an evangelist for sales funnels and the ability to fuel rapid business growth. His company, ClickFunnels, has helped 43,000 entrepreneurs build effective sales funnels and landing pages that attract more customers for their web-based business. ClickFunnels is on track to earn $70 million this year and is one of the several highly successful startups based in Boise, Idaho, that are putting the city on the tech map nationally.

Brunson has authored two books and boasts an expertise in the critical role storytelling plays in marketing and sales. In our interview, he explains his tested and proven method for engaging audiences with the “epiphany bridge” script, recounts how ClickFunnels evolved into the high-selling SaaS product it is today and shares an underutilized sales funnel strategy that could revolutionize the way software companies market their products.

After the episode, head over to RussellBrunson.com for more expert sales advice and behind-the-scenes updates on his business. I’ll also be giving away a free copy of his latest book, Expert Secrets, to one lucky listener. To be eligible to win, leave a comment below and let me know what you thought of this episode of Powderkeg: Igniting Startups.

In this episode with Russell Brunson, you’ll learn:

-- How inspirations early in your life can blossom into businesses later on

-- Even big mistakes can be stepping stones to success

-- How ClickFunnels evolved from in-house technology to a consumer software product

-- The benefits of focusing your effort and attention on a single goal

-- How to engage your audience using the “epiphany bridge” script

-- Why business books can be incredible tools for generating leads

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

Shane Mac, a Silicon Valley transplant from his hometown of Pekin, Illinois, is a master of building authentic relationships based on trust and personal connection. In fact, he’s so good at winning people over with his honest Midwestern brand image, that he’s learned how to raise capital without ever asking for money.

I met Mac a few years ago at the Big Omaha conference in Omaha, Nebraska, and he’s consistently blown me away with his ability to grow funded companies ever since. He’s worked on the Gist and Zaarly teams, and he now runs Assist, a free-to-use travel and shopping chatbot for SMS and Facebook Messenger. This interview was recorded early last year, shortly after Mac closed a $5.5 million Series A round for Assist, which he achieved based on the strength of his professional relationships alone.

Mac believes relationships are the backbone of any business venture, and he’s a devoted practitioner of what he preaches. In our interview, he shares counterintuitive but proven strategies for creating authentic connections and gaining interest in your business. He believes in closing fundraising rounds by consciously refraining from making a direct ask. He also regales me with a too-crazy-to-be-made-up story of how he closed Assist’s $500,000 seed round in five days—over a holiday break.

If you like the wit and wisdom Mac shares in this interview, be sure to check out his podcast, ask., as well as his very unique and enlightening business book, Stop with the BS. Mac is very active on social media, so feel free to reach out to him on Twitter, Instagram and elsewhere @ShaneMac.

In this episode with Shane Mac, you’ll learn:

Why the best way to raise money is to avoid asking for it (5:16)

Step-by-step strategy for attracting investors, including one crazy success story (9:18)

How to build authentic business relationships based on trust (20:07)

Asking someone to tell their story is the best way to get them interested in you (30:36)

Why humility and gratitude are the keys to an outstanding pitch (37:45)

Actionable tips for making potential collaborators like you (47:20)

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

Heather Hartnett took a nontraditional path to the world of venture capital, and it’s ignited a great passion for enabling social change through technology and business. She now leverages her experience to help founders build better companies through commitments to diversity, personal wellness and positive impact.

Hartnett began her career in venture capital but was quickly compelled to move into the philanthropy space, where she spent five years on the board of directors for the David Lynch Foundation. When she returned to venture capital, Hartnett decided to merge philanthropy and business through the lens of impact investing. She co-founded Human Ventures, a New York-based venture studio dedicated to building tech companies that make life easier and more fulfilling.

Hartnett believes a company’s impact is determined by the people who run it. In our interview, she explains the benefits of diversity and how to nurture it in the tech industry, as well as how founders can avoid burnout through meditation and care for their emotional health. Ultimately, she illustrates how companies built on solid human foundations can be extraordinary forces for positive change in the world.

Take a look at the Human Ventures website to learn more about the studio’s mission and portfolio companies, reach out to Hartnett on Twitter @HeatherHartnett to thank her for sharing her wisdom and enjoy the show!

In this episode with Heather Hartnett, you’ll learn:

--- How a background in philanthropy can help you in business

--- Why the impact of your business is determined by its people

--- The obstacles “non-traditional” founders should be prepared to face

--- Strategies entrepreneurs and investors can use to nurture diversity in tech

--- Why you need to take care of yourself as well as your business

--- Tips for diversifying your knowledge base and creating your own luck

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

Brand marketer and venture capitalist Dave Knox is an expert in relationships between large companies and startups, as he has extensive experience working in both worlds.

Knox began his career at Procter & Gamble, where he consistently pushed the envelope in terms of marketing and digital innovation, eventually spearheading the company’s development of digital business strategies. He left the company in 2010 to co-found The Brandery, a startup accelerator in Cincinnati, OH, leveraging his seven years of corporate experience to advise local founders on their entrepreneurial journeys. In addition to his work with The Brandery, Knox also serves as Managing Director of WPP Ventures and CMO of Rockfish Digital.

Knox has an astute understanding of the ways startups and corporations affect each other. In our interview, he explains why startups must strategically compete and cooperate with large companies to improve their capacity for innovation and disruption—which can ultimately lead to acquisition and profitable exits.

If this episode leaves you eager for more of Knox’s keen insights into corporate-startup interactions, you’ll want to pick up his new book, Predicting the Turn: The High Stakes Game of Business Between Startups and Blue Chips. Purchase the book through the publisher’s website and enter the coupon code “powderkeg” for an exclusive $10 discount on your order. As bonus, I’ll also be giving away a free copy of the book to one lucky listener who comments on this episode!

In this episode with Dave Knox, you’ll learn:

-- The key to building your network outside of a major tech hub

-- How to avoid falling prey to large companies that can “disrupt the disruptor”

-- Corporate venture capital is the new R&D

-- The difference between outsiders and disruptors

-- The ongoing transition toward fully digital business models

-- Why startups need to engage with large companies from the beginning

-- Reasons you might want to work with corporate VC organizations

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes

Clint Smith is the co-founder and CEO of Emma, a SaaS company out of Nashville, TN, that has created a new standard of success for bootstrapping businesses and hosting innovative, engaging conferences.

Smith and his co-founder conceived Emma’s email marketing platform in 2002 and took out a bank loan to fund their initial growth. By developing a healthy revenue model and focusing on customer acquisition from the start, they were able to break even on their cash flow only a year and a half later.

Fast forward a decade of continued growth, and the Emma team started hosting its annual Marketing United conference, which is open to all marketing professionals in addition to the company’s customers. Nearly 1,000 people attended the 2017 conference last month, allowing the team to establish deeper relationships with their customers and re-energize the larger marketing community.

In my interview with Smith, he shares the behind-the-scenes story of how he scaled Emma from an idea to an innovative email marketing company without investor funding. We also chat about how the Emma team is growing Marketing United into a leading conference for marketers between the coasts.

In this episode with Clint Smith, you’ll learn:

-- Why hosting a conference can benefit your customers and employees

-- Mistakes to avoid when hosting your conference

-- How he bootstrapped Emma from idea to profitability

-- Why a solid revenue model is key for a young business

-- The importance of finding an outstanding advisor

-- Emma’s strategies for keeping pace with innovation

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Download show notes and transcripts at www.powderkeg.com

This episode of Powder Keg is brought to you by DeveloperTown. If you’re a business leader trying to turn a great idea into a product with traction, this is for you.

DeveloperTown works with clients ranging from entrepreneurs to Fortune 100 companies who want to build and launch an app or digital product. They’re able to take the process they use with early stage companies to help big companies move like a startup.

So if you have an idea for a web or mobile app, or need help identifying the great ideas within your company, go to developertown.com/powderkeg.

Thanks again to everyone who has shared an episode of Powderkeg, subscribed to us on iTunes, or left us a review. It’s the only way we’re going to spread this message and reach new people and we could do it without you.

We’re coming out with new episodes every Tuesday, so make sure you subscribe on iTunes or at powderkeg.co/itunes