Entrepreneurial Excellence Podcast

Hosted by Adam Spector

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118

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Oct 2026

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Welcome to Entrepreneurial Excellence, the podcast that unlocks the secrets of running a successful startup. Get ready for captivating interviews with industry experts, thriving entrepreneurs, and visionary leaders. Deep dive into topics like crafting killer business ideas, optimizing operations, and mastering the art of scalability. Join us for empowering insights and practical advice that will propel you towards your entrepreneurial dreams.

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October 15, 2026Episode 435 min

From a $4.2M Startup Failure to Going Public: Lessons in Entrepreneurship with Naeem Zafar

What happens when you raise $4.2 million for a startup, only to sell it for $150,000? For serial entrepreneur, CEO coach, and angel investor Naeem Zafar, that failure became one of his most valuable lessons. His next company went public, and over the course of seven startups, he learned what separates businesses that succeed from those that struggle. In this episode of Entrepreneurial Excellence, Naeem joins host Adam Spector to discuss startup leadership, hiring, business growth, and the difficult decisions every founder eventually faces. He explains why a CEO's most important job is learning to say no, how to build high-performing teams through real ownership, and why every entrepreneur needs a clear plan for knowing when to walk away. Naeem also shares how timing shapes startup success, why AI cannot fully replace a great co-founder, and what years of building and advising companies have taught him about entrepreneurship. Whether you're launching your first startup, scaling a business, or navigating the challenges of being a CEO, this conversation offers practical lessons on leading people, making better decisions, and building a business that lasts. Key Topics: How Naeem went from a $4.2 million startup failure to taking his next company public Why successful CEOs must learn to say no and stop making every decision How to hire A-players, build stronger teams, and give employees real ownership When founders should quit, pivot, or keep going—and why every startup needs a "kill switch" Why startup timing matters and how promising technology can still fail commercially Why co-founders, executive coaching, and long-term thinking matter for business success Episode Chapters: 00:24 How AI Is Changing Entrepreneurship and Startup Teams 02:16 How to Hire A-Players and Build a Strong Startup Team 03:51 Why a CEO's Most Important Job Is Saying No 06:17 Why CEOs Should Stop Making Every Decision 07:19 How to Delegate and Give Employees Real Ownership 09:28 When Should a Startup Hire More Employees? 10:43 Why Startup Timing Matters: The Fingerprint Technology That Reached Apple 13:39 When Should a Founder Quit or Keep Going? 15:43 Why Every Startup Needs a Kill Switch 16:37 From a $4.2M Startup Failure to Taking His Next Company Public 18:00 How Naeem Defines Startup Success Beyond Money 18:50 What Is Entrepreneurial Excellence? 24:31 Three Traits That Help Entrepreneurs Recognize Opportunities 26:04 Two Questions Every Startup Founder Must Answer 26:48 Why AI Cannot Replace a Great Co-Founder 28:59 Why Every CEO Needs an Executive Coach 30:48 Work-Life Integration for Entrepreneurs 32:58 Naeem's Biggest Advice for Young Entrepreneurs Connect with Naeem Zafar: LinkedIn: https://www.linkedin.com/in/naeemzafar Personal Website: https://naeemzafar.com Startup Advisor: https://startup-advisor.com TeleSense: https://telesense.com Connect with Entrepreneurial Excellence: LinkedIn: https://www.linkedin.com/company/entrepreneurial-excellence-podcast YouTube: https://www.youtube.com/@EntrepreneurialExcellencePod TikTok: https://www.tiktok.com/@eepodcast24 Facebook: https://www.facebook.com/profile.php?id=61570329516959 Website: https://www.hirechore.com/resources/podcast Enjoyed this conversation? Follow Entrepreneurial Excellence on Spotify or Apple Podcasts for more insights from founders, CEOs, and business leaders on entrepreneurship, leadership, and building successful companies. Share this episode with a founder who could benefit from Naeem's experience.

October 8, 2026Episode 341 min

He Helped Build the Future of AI. Now He’s Concerned About What’s Next | Ofer Hermoni, Ph.D.

Ofer Hermoni, Ph.D. has spent more than a decade working in artificial intelligence, long before AI became part of everyday business conversations. From helping establish the Linux Foundation AI to founding multiple technology companies, he has seen firsthand what AI can do and why so many businesses still struggle to make it work. But Ofer believes the biggest challenge in AI transformation isn't technology. It's the people. He shares why employees have legitimate reasons to fear AI, how one failed project taught him the importance of getting teams on board, and why companies need to start with the right problems instead of rushing to automate everything. He also explains how AI is already changing the job market, including a researcher who no longer needs the 15 interns he used to hire every year. In this episode, Ofer discusses what it takes to build a business in an AI-driven world, from choosing the right AI projects to growing a bootstrapped company and finding the right co-founder. He also shares his concerns about how quickly AI is advancing, whether it's too late to slow it down, and why he advised his own son against studying computer science in college. Key Topics: -Why AI is already replacing entry-level work, including jobs once handled by 15 interns -Why the biggest obstacle to AI transformation isn't technology, but getting employees on board -How companies can choose the right AI projects and turn small wins into meaningful business results -Why employees have legitimate reasons to fear AI and how leaders can address those concerns -Why Ofer believes AI is advancing too quickly and may already be impossible to stop -Why he believes college may no longer be worth the cost and discouraged his own son from studying computer science Timestamps: 01:06 Why AI Hasn't Transformed Most Businesses Yet 02:50 AI Is Already Replacing 15 Interns 04:18 The Real Reason AI Transformation Fails 05:53 Why Employees Are Right to Fear AI 08:26 How to Choose Your First AI Project 11:25 From Zero AI Knowledge to a Potential $10M ROI 16:10 What Defines Entrepreneurial Excellence? 17:17 Will AI Create More Jobs or Eliminate Them? 20:24 Is It Already Too Late to Stop AI? 22:25 How Ofer Helped Co-Found the Linux Foundation AI 26:58 Bootstrapped vs. Venture-Backed: Which Is Better? 30:43 When a Founder Has to Risk Personal Savings 32:18 Why He Tested His Co-Founder for a Year 38:06 Why He Thinks College Is a Waste of Money 38:34 Why He Told His Son Not to Study Computer Science Connect with - Ofer Hermoni, Ph.D. LinkedIn - linkedin.com/in/ofer-hermoni Website: ifor.ai Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

October 1, 2026Episode 21 hr 16 min

The Best Product Doesn’t Win — The Best Distribution Does with Taylor Offer

Taylor Offer has always been obsessed with finding opportunities other people overlook. That instinct took him from reselling candy bars as a kid to controlling more than 1,000 college Facebook groups, moving into the same building as some of the internet’s earliest influencers, and eventually building FEAT into a $50M business. But building that company came with a cost. Taylor opens up about the co-founder breakup that changed how he thinks about leadership, why the distribution channels that fueled FEAT eventually stopped working, and how a decade of entrepreneurship left him exhausted and forced him to rethink the way he was living and working. In this episode, Taylor shares what he’s doing differently as the founder of Atrios, from hiring for energy instead of prestige to taking extreme ownership when things go wrong. He also explains why he believes traditional sales and marketing are becoming less effective, and why trusted recommendations and word of mouth could become an even bigger part of how companies grow. Key Topics: - Why entrepreneurs sometimes need “irrational confidence” to see opportunities others miss - How Taylor turned overlooked distribution channels into massive growth opportunities - How finding where top influencers lived led to $500,000 in sock sales from one partnership - Why the growth channels that build a business eventually stop working - How building a $50M business took a serious personal toll - Why hiring for prestige instead of what the business actually needs can backfire - Why founders need to take extreme ownership when things go wrong Timestamps: 01:26 Entrepreneurial Excellence Requires Irrational Optimism 14:24 You Can Say No Without Being a Jerk 18:01 Why a Bad Co-Founder Breakup Changed How He Builds Companies 21:55 How He Took Over 1,000 College Facebook Groups 25:21 He Found Where the Biggest Influencers Lived—and Moved In 25:50 One Influencer Sold $500,000 Worth of Socks 32:42 The Distribution Channel That Built His Business Eventually Died 36:00 Building a $50M Business Nearly Broke Him 48:29 The $1 In, $5 Out Growth Era Is Over 58:49 Why Hiring for Prestige Was One of His Biggest Mistakes 1:00:11 Your First 10 Hires Need to Actually Care 1:08:29 Founders Need Extreme Ownership 1:14:23 “I Want to Build a Multi-Billion-Dollar Company” Connect with - Taylor Offer: LinkedIn - linkedin.com/in/tayloroffer Website: atrios.com Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

September 10, 2026Episode 159 min

She Runs 3 Businesses at Once. What Does She Know That Most CEOs Don’t? with Alicia Williams

Alicia Williams knows that running a business sometimes means making decisions people may not like. After years in HR and mental health, and now running three businesses at once, she has learned how to balance caring about people with doing what the business needs to survive and grow. She shares what she looks for when hiring, why warning signs often show up before someone even starts, and how becoming a business owner changed the way she thinks about employees, performance, and money. She also explains why founders often waste their most valuable resource: their own time. In this episode, Alicia breaks down her “Shortcut to CEO”: get help and delegate. She explains why founders need to stop doing everything themselves, how she decides what to hand off, and why a business that cannot run without you may just be another full-time job. Key Topics: -Why doing the right thing in business sometimes means making tough decisions -How to spot red flags before you make a bad hire -Why your time may be more valuable than the money you are trying to save -The “Shortcut to CEO” and why founders need to delegate -Why a business that depends entirely on you is really another full-time job -How to build a business that supports your life instead of controlling it Timestamps: 01:15 Doing the Right Thing Can Hurt the Bottom Line 03:34 Business Is Not Friendship. It’s Business. 16:20 You Can Spot a Bad Hire Before They Even Start 19:33 The Best Hiring Test Is Surprisingly Simple 33:12 Most Founders Forget Their Time Is Not Free 37:17 Anyone Can Become a CEO. The Hard Part Comes After. 39:48 Delegate Everything You Hate Doing 41:03 The Real Cost of Running Three Businesses 47:11 The Shortcut to CEO Is Simpler Than You Think 47:34 If Everything Depends on You, You Don’t Have a Business 50:14 The “Beach or Bank” Rule for Saying No 54:06 If You’re Making Excuses, You’re Not Making Money Connect with - Alicia Williams: LinkedIn - linkedin.com/in/humanityinhr Website:humanityinhr.com (Company) youturnbhs.com (Company) humanityinhr.as.me (Company) Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

September 3, 2026Episode 553 min

He Went 5 Years Without a Salary — Then Built Companies Worth Millions with Rob Catalano

Rob Catalano shares why entrepreneurial excellence begins when the excitement of a new idea wears off. After more than 20 years building companies, including Achievers and WorkTango, he learned that success is less about having the perfect idea and more about staying committed through difficult years, adapting when the market changes, and surrounding yourself with people who can help execute the vision. After helping scale Achievers to hundreds of employees and later bootstrapping WorkTango before its acquisition, Rob experienced two very different paths to building a company. He breaks down why he preferred the bootstrap journey, how finding the right co-founder shaped his career, and why hiring the right people has been one of his biggest advantages. He also shares the recruiting process he has trusted for nearly two decades and why a bad hire can cost far more than taking extra time to find the right person. In this episode, Rob also explores how AI is changing hiring, marketing, and go-to-market in 2026. He explains why founders should understand the problem before building the product, why smart generalists may have an advantage in the AI era, and why there are no simple growth shortcuts anymore. At the core, this conversation is about building for the long term, becoming an expert in your space, knowing when to delegate, and staying willing to evolve as both the company and the market change. Key Topics: -Why most founders fail even when they start with a strong vision -Why the right people can matter more than having the best product -How talking to 100 customers can completely change what you build -Why bootstrapping gave Rob a better experience than raising venture capital -The 18-year hiring method that helped Rob avoid costly hiring mistakes -Why AI will not make everyone an expert in sales, marketing, and business Timestamps: 01:08 Entrepreneurial Excellence Starts After the Idea Stops Being Fun 04:49 Why Most Founders Eventually Give Up 07:12 The Most Important Pattern Behind Successful Companies 11:32 The Secret to a Co-Founder Relationship That Lasts 15:16 How to Find Real Product-Market Fit 20:32 How to Delegate Without Losing Control of Your Company 23:25 Why Bootstrapping Was Better Than Raising Capital 26:55 The Recruiting Process Rob Has Trusted for 18 Years 31:09 A Bad Hire Costs Far More Than a Long Interview 32:32 How AI Is Changing Who Companies Need to Hire 34:58 Why Smart Generalists May Win in the AI Era 36:38 Why Go-to-Market Is So Difficult in 2026 39:57 Why AI Agents Need a Shared Operating Layer 42:24 Can AI Giants Eventually Replace Smaller AI Companies? 47:36 There Are No More Magic Bullets in Marketing 49:47 The Advice Rob Would Give Himself 20 Years Ago 52:04 Give to Your Community Before You Try to Sell to It Connect with - Rob Catalano: LinkedIn - linkedin.com/in/robcatalano Website: https://www.wysdym.ai/ Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

August 27, 2026Episode 41 hr 7 min

6 Million Users, Zero Ad Spend: Why Organic Growth Isn’t About Going Viral with Colin Hodge

Colin Hodge shows why massive organic growth is rarely about finding one viral hit. After growing DOWN to 6 million users without spending money on ads, he learned that real growth comes from constantly testing ideas, spotting small sparks of traction, and figuring out which ones are worth turning into bigger growth engines. As the founder behind Bang With Friends, which later became DOWN, Colin experienced nearly every side of entrepreneurship: explosive growth, getting sued by Zynga, being removed from Apple’s App Store, founder burnout, selling his company, and eventually buying it back. He shares how those experiences shaped his views on resilience, ethical growth, and why founders need people around them who can challenge their thinking. In this episode, Colin breaks down the psychology behind organic growth, why smaller companies have an unfair advantage over established competitors, and how standing out can create opportunities that traditional marketing cannot. At the core, this conversation is about building differently, knowing when to push against conventional wisdom, and creating sustainable growth without losing yourself along the way. Key Topics: -Organic growth is about finding small sparks, not chasing one viral hit -How Bang With Friends reached 1 million users in just three months -Growing DOWN to 6 million users without spending money on ads -Why smaller companies have an unfair growth advantage over bigger competitors -How founder burnout can lead to major decisions like selling too early -Why the best growth strategies use human psychology to stand out and drive action Timestamps: 01:20 The Best Entrepreneurs Are Defined by Resilience 06:39 The Honest Conversation That Created Bang With Friends 09:50 Great Entrepreneurs Know When to Challenge Conventional Wisdom 12:52 What If Tech Companies Optimized for Users Instead of Attention? 24:06 The Sketchy Growth Tactics Dating Apps Still Use 27:09 Bang With Friends Hit 1 Million Users in Three Months 30:48 Why Apple Kicked Bang With Friends Out of the App Store 32:06 The Brand That Made Them Viral Became Their Biggest Problem 36:31 Getting Sued and Kicked Off the App Store Nearly Broke Him 38:51 How DOWN Grew to 6 Million Users With Zero Ad Spend 39:06 Organic Growth Is Not About Finding One Viral Hit 40:33 Building a Company Without a True Co-Founder Led to Burnout 42:42 Selling Too Early Cost Him a Much Higher Valuation 45:00 The Growth Playbook Built From 100 Million Users 48:06 How a $100 Cup of Gelato Became a Viral Growth Strategy 52:00 Small Companies Have an Unfair Advantage Over Giants 55:00 Founders Should Delegate What They Do Not Want to Master 1:05:39 Have More Faith in Your Vision and Stop Treating It Like a Sprint Connect with - Colin Hodge: LinkedIn - linkedin.com/in/ckbhodge Website: colinhodge.com Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

August 6, 2026Episode 31 hr 20 min

You Won The Wrong Game with Dr. Yishai Barkhordari

In this episode, Adam sits down with Dr. Yishai to challenge one of the biggest assumptions in entrepreneurship: that success automatically means you're on the right path. They explore why some founders build successful companies while quietly feeling stuck, exhausted, or pulled in different directions, and why real progress starts with being honest about what you actually want your business and your life to look like. The conversation unpacks why so many founders carry unnecessary pressure, how guilt quietly drains focus, and why balance is less about dividing your time equally and more about knowing where your attention belongs in each season of life. Dr. Yishai also shares why great founders don't try to be great at everything, how the right coach helps uncover blind spots that AI still misses, and why your biggest limitation is often the story you're telling yourself without realizing it. More than a conversation about business, this episode is about learning how to think with more clarity when the stakes are high, make decisions with greater confidence, and build a company without losing yourself along the way. Key Topics: -Success without alignment often comes at a hidden personal cost -Great founders build businesses around what matters most to them -Balance comes from shifting priorities not dividing time equally -Your emotions can reveal what needs your attention -The best leaders focus on their strengths instead of doing everything -A great coach helps uncover blind spots that AI still cannot see Timestamps: 06:13 Can You Be Successful Without Being Aligned 09:26 The Biggest Lie Founders Tell Themselves 12:18 Your Emotions Are Giving You Important Data 13:25 Why Work Life Balance Is a Myth 16:48 The Hidden Trait Shared by Great Founders 18:22 Your Zone of Genius Is Your Greatest Advantage 21:22 Why High Performers Get the Most Out of Coaching 27:35 Does Every Founder Need a Coach 29:58 How to Find the Right Coach Without Wasting Money 31:24 Why Asking for Help Makes You Stronger 32:18 Nobody Is Great at Everything 34:13 Stop Doing Work Someone Else Can Do 36:09 Is Executive Coaching Actually Worth It 37:42 The Hidden Reason Your Business Stops Growing 39:20 How to Measure the ROI of Coaching 42:19 AI Coach vs Human Coach Which One Wins 44:26 The Biggest Blind Spot AI Still Cannot See 46:10 The Blind Spot That Changes Everything 47:18 Why Founders Struggle Under Pressure 47:50 Pressure Is Not What You Think It Is 49:52 The First Time Will Always Be the Hardest 51:52 Your Brain Is Trying to Help You Not Hurt You Connect with - Dr. Yishai Barkhordari: LinkedIn - linkedin.com/in/dryishai Website: dryishai.com Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

July 30, 2026Episode 21 hr 15 min

The Biggest Hiring Lie Every Founder Still Believes with Adam Gellert

Adam Gellert explains why most companies are hiring the wrong way and why relying too much on resumes often causes them to miss great people. He shares how founders can build stronger teams by focusing on trust, attitude, grit, and the real business problem they need to solve instead of simply checking boxes on a CV. In this episode, Adam talks about why speed is one of the biggest advantages in hiring, why "hire slow, fire fast" is a flawed mindset, and how the best founders treat recruiting as one of their highest priorities. He also shares practical lessons from building recruiting businesses that help startups and small businesses hire top talent faster. At its core, this conversation is about making better hiring decisions, building systems that attract the right people, and creating businesses that grow because of great teams, not just great ideas. Key Topics: -Resumes are not the best way to identify great talent -The fastest companies often hire the best people -Trust attitude and grit matter more than a perfect background -Great founders treat hiring as one of their most important jobs -Delaying a hire can cost more than hiring the wrong person -Building the right team starts with solving the right business problem Timestamps: 02:29 Hiring Is About Getting the Best Person Fast 04:42 Stop Filtering People Out and Start Finding the Right Ones 06:13 The Three Traits Every Great Hire Needs Trust Attitude and Grit 07:25 Recruiting Is Much Simpler Than Most Founders Think 09:42 How to Hire Without Relying on Resumes 14:46 Why You Should Never Trust a Resume Too Much 17:00 We Completely Rebuilt Our Hiring Process 18:03 Entrepreneurship Is About Becoming an Athlete of Business 19:03 Grit Cannot Be Taught 20:14 If You Need Motivation Make It Cost You Something 21:19 Why I Paid for an Office During the Recession 25:29 The Moment I Realized Recruiting Was My Calling 26:04 Why Every Startup Should Hire Top Talent Within 48 Hours 30:13 The Biggest Hiring Mistake Founders Make 32:03 Great Founders Spend Up to Half Their Time Recruiting 33:34 Your Business Will Fall to the Level of Your People 34:47 The Fastest Founders Win the Best Talent 36:07 Speed Is the Greatest Hiring Advantage 38:15 Hire Slow Fire Fast Is One of the Biggest Lies Ever Told 38:44 Delaying a Hire Is More Expensive Than Hiring the Wrong Person 40:21 Why the First Sales Hire Is So Difficult 43:44 The Three Traits Every Great Salesperson Shares 45:58 The Most Overlooked Early Hire for Founders 47:04 Every Job Needs a Clear Outcome 49:33 Specialists Usually Beat Generalists 51:01 Remote vs Office Which One Actually Wins 53:26 How to Decide the Right Salary for a New Hire 01:13:06 The One Piece of Advice Every Entrepreneur Needs 01:14:13 The World's Best Entrepreneurs Stay Focused on the Big Picture Connect with - Adam Gellert: LinkedIn - linkedin.com/in/adamgellert Website: linkusgroup.com (Company) hirehipo.com (Company) recruiteradam.com (Personal) Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

July 24, 2026Episode 149 min

When It's Time to Leave Your Safe Job and Build a Business with Chieh Huang

Leaving a safe career to build a business sounds exciting, until you're the one making the decision. In this episode, serial entrepreneur Chieh Huang shares what it's really like to leave a prestigious law career, build multiple startups, experience successful exits, take a company public, go through bankruptcy, and start all over again. He explains why entrepreneurship is never a straight line, why there is never a perfect time to start, and what separates founders who keep going from those who quit. Chieh Huang is a serial entrepreneur and the co-founder of AstroApe, Boxed, and Pelago. His first startup was acquired by Zynga, he later helped build Boxed into a public company, and his TED Talk, Confessions of a Recovering Micromanager, has been viewed millions of times. Today, he's building Pelago, a platform helping companies improve the employee offboarding experience. He discussed: -Why there is never a perfect time to leave your safe job and start a business -The mindset that tells you it's finally time to become an entrepreneur -Why every startup eventually breaks—and why that's completely normal -How Boxed grew from a garage startup into a public company with over 1,000 employees -The biggest leadership mistake founders make as their company grows -What bankruptcy, being fired from your own company, and starting over taught him about success Timestamps 00:01:20 What Makes an Entrepreneur Truly Great? 00:04:36 Why He Walked Away From a Dream Career 00:10:23 What the First 6 Months of a Startup Really Look Like 00:12:15 Why You'll Never Feel Ready to Start a Business 00:13:34 The One Sign It's Time to Go All In 00:14:43 Why Starting a Business Isn't as Risky as You Think 00:17:17 Why He Left Zynga to Build Something Bigger 00:18:03 How Boxed Went From a Garage to a $900M Company 00:20:04 The Truth Every Founder Learns the Hard Way 00:22:42 Why They Turned Down Acquisition Offers 00:26:04 The Collapse That Changed Everything 00:32:53 The Leadership Mistake That Nearly Cost Him Everything 00:39:44 Getting Fired From the Company He Built 00:44:19 Will AI Create More Entrepreneurs or Kill Jobs? 00:46:04 How Success Changed After Building Multiple Companies Connect with - Chieh Huang: LinkedIn - linkedin.com/in/chiehhuang Website: Pelgo.com Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast

July 16, 2026Episode 51 hr 15 min

Why Most Restaurants Fail (And How We Built One That Lasted 17 Years) with Thomas McNaughton and David Steele

Thomas McNaughton and David Steele share how they built Flour + Water Hospitality Group from a single restaurant into one of San Francisco's most respected hospitality brands by embracing change instead of chasing comfort. In this episode, they talk about why waiting until you're ready is one of the biggest mistakes entrepreneurs make, how trust and honest partnerships helped them navigate challenges, and why putting people before profits became the foundation of their long-term success. They also share the lessons they learned from opening during the 2008 financial crisis, surviving the pandemic, and constantly reinventing their business. this conversation is about building something that lasts by staying curious, embracing change, and having the courage to keep evolving long after you've found success. Key Topics: -Stop waiting until you're ready -The secret to lasting 17 years in business -Great partners make different strengths win -Culture beats strategy every time -Hire for attitude, teach the skills -The biggest failures create the biggest growth Timestamps: 05:51 Why They're Still Entrepreneurs After 17 Years 07:26 The Business Plan That Changed Everything 11:32 They Met Through A Craigslist Job Post 13:02 The Restaurant Name Everyone Thought Was Terrible 21:40 The Real Secret To Staying In Business For 17 Years 22:05 They Almost Ran Out Of Money Before Opening 24:34 They Started Before They Had Enough Money 30:48 Stop Waiting Until You Feel Ready 35:25 Trust Your Instincts More Than Your Opinions 40:28 People Always Come Before Profit 42:17 Hire For Attitude, Train For Skill 46:20 The Culture Lesson That Changed Their Company 56:57 Every Great Leader Feels Like An Impostor 58:06 Why Their Vision Is Bigger Than Restaurants 59:54 Their Biggest Failures Built Their Best Business 1:01:05 The Pandemic Made Them Stronger Than Ever Connect with - David Steele: LinkedIn - linkedin.com/in/david-steele-76088a Website: flourandwater.com Connect with - David Steele: LinkedIn - linkedin.com/in/thomas-mcnaughton-b0345595 Website: flourandwater.com Connect to Entrepreneurial-Excellence Podcast: LinkedIn - ⁠https://www.linkedin.com/company/entrepreneurial-excellence-podcast⁠ Youtube - http://www.youtube.com/@EntrepreneurialExcellencePod TikTok - ⁠https://www.tiktok.com/@eepodcast24⁠Facebook - https://www.facebook.com/profile.php?id=61570329516959 Website - https://www.hirechore.com/resources/podcast