00:00 Built CBD marketplace, pivoted to agency and acquisitions.
08:18 Top VC firms outperform due to high demand.10:08 VCs help more if you’re already succeeding.
14:57 Family offices are difficult; consider angel investors.
19:56 Focused on wellness, sourced brands via databases.
24:55 Raised $4M, cannabis promise unfulfilled, maintaining investor trust.
29:10 SBA program unique; venture debt risky alternative.
32:21 Inventory mismanagement hindered growth; strategy improvements boosted success.
37:24 Focus on profitability and omnichannel expansion.
42:21 E-commerce acquisitions are challenging, focus essential.
45:30 Embrace lifelong learning, adapt to new industries.
49:03 Embrace industry evolution; avoid rigid identity labels.
– Began in investment banking in 2010 with a focus on natural resources, power, and chemicals.
– Obtained a master’s degree in oil, gas, and mining at Imperial College London.
– Transitioned to venture capital, investing in early-stage technology.
– Gained experience across various industries including cannabis, psychedelics, Amazon, and SEO.
– Emphasizes the significance of transitioning between industries.
– Advocates for continuous learning using the 10,000-hour rule as a metaphor.
– Launched the podcast SaaS Minds to explore software-as-a-service (SaaS) businesses.
– Characteristics of businesses suitable for private equity.
– Use of leverage for acquisition to enhance returns.
– Challenges faced in private equity including high valuations and market conditions.
– Experience with acquisition strategies, especially in the wellness sector.
– Sale of a large German fertilizer business.
– Managing pressure due to debt and acquisition strategies.
– Discussion on private equity as an asset class, especially in declining valuation periods.
– Focus on the wellness sector due to CBD marketplace background.
– Methods for sourcing deals, including Amazon scraping, databases, and broker outreach.
– Acquisition of a smaller scented candle brand and post-acquisition challenges.
– Enhancements in marketing efficiency and product development.
– Geographic expansion to the UK, Germany, Canada, and Mexico.
– Future opportunities including agency growth, brand sales, and exploring new markets.
– Differences between VC and private equity.
– Average returns for VC funds and challenges in raising VC.
– Networking importance and value creation in VC.
– Case studies like Rand Fishkin’s Moz for illustrating risks in VC funding.
– Raising $4 million and managing investor relations.
– Dynamics in the cannabis market following legalization expectations.
– Funding mechanisms including venture debt funds and managing high-profit margin acquisitions.
– Importance of expanding omnichannel retail and D2C presence.
– Discussions about selling the agency for further growth or raising more capital.
– Reflections on growing from zero to one million vs. one to ten million in revenue.
– Emphasis on singular focus and strategic planning for growth.
– Insight into industry trends, operational strategies, and scaling businesses.