Tune in to "These Three Things" for an enlightening conversation with Phil Thompson, CEO and co-founder of Auror, a global leader in crime reporting technology. Discover the rollercoaster journey from Auror's early days to becoming a major player in the tech world. Phil sheds light on overcoming unique challenges, such as an unusual incident involving a chicken catching fire. Learn about the crucial tactics employed for successful capital raising, the value of boot-strapping, achieving product-market fit, and expanding into international markets including the US and UK. This episode is a treasure trove for entrepreneurs and business enthusiasts, offering profound insights into building a resilient company, managing capital constraints, and adapting strategies for different cultural and commercial landscapes.
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00:00 In This Episode
00:27 Intro
00:57 Today's guest
01:49 Phil's journey from lawyer to tech entrepreneur
03:32 The importance of customer feedback and market research
06:12 How did they raise capital?
07:13 The Impact of Capital Constraints on Business Growth
08:44 Phil's advice on capital raising
10:46 How long does a raise take to close?
12:29 How did they pivot to their primary customer?
15:17 Which metrics were they looking at?
16:46 Auror's strategy for expanding into new markets
19:20 Expanding to Australia first - was it the right decision?
20:29 Our Sponsor
21:09 Auror's world expansion - where did they start?
23:33 About their Expansion Strategy
25:33 Reasoning to keep expanding into other countries
27:24 Auror's leadership style
31:40 Phil's view on positive mindset in business
33:53 Getting out of cliff edges - Phil's advice
35:23 Auror's life-or-death moment
37:17 What are the moments within Auror Phil's most proud of?
38:32 What was the strategy around landing Walmart?
41:16 The Three Learned Things
45:11 Outro
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