Seed to Success

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Dec 2024

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About the show

Seed to Success is a podcast for early-stage tech & SaaS founders and CEOs. The show follows founders to share the highs, lows and hard lessons of building a tech business. Hear real-life successes and hard lessons from bootstrapped and VC-backed start-ups.

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10 recent

December 11, 2024Episode 101 hr 1 min

Raising millions or mortgaging the house? The truth about startup funding!

In this episode of Seed to Success, Alastair is joined by his co-founder Luke Streeter and seasoned entrepreneur Stuart McLeod, who opens up about his journey of founding, scaling and exiting two companies - PayCycle and Karbon. Stuart sheds light on the unpredictability of entrepreneurship, the importance of resilience and introduces his latest venture, Waverly Studios. While discussing strategic opportunities, cap table complexities and all the challenges along the way, Stuart get candid about the setbacks and the moments of self-reflection. The trio discuss seizing strategic opportunities, funding challenges and the impact of AI, This episode is a must-listen for aspiring entrepreneurs and anyone navigating the complexities of start-up ventures! _ Show notes: 00:00:00 - Intro 00:01:30 - Introduction to Waverly Studios 00:04:02 - Building and selling PayCycle 00:09:47 - Selling to Xero 00:13:33 - Building for exit 00:14:19 - Unexpected opportunities with Xero 00:16:31 - Learning from Xero 00:19:24 - Transition to Karbon 00:23:43 - Scale and confidence 00:26:59 - Funding and early days 00:28:34 - Challenges in raising funds 00:32:37 - Lessons from PayCycle 00:35:04 - Board composition and value 00:39:46 - Navigating tough decisions 00:40:48 - Cap table challenges 00:43:04 - Venture studio vs. accelerator 00:45:43 - Youth sports management platform 00:49:21 - Market sizing and purpose-driven ventures 00:53:33 - Studio operations and business scalability 00:55:59 - Diversifying ventures 00:59:59 - Angel investing and personal focus 01:00:46 - The power of data and metrics

May 28, 2024Episode 956 min

A female founder's path to fundraising success

In this episode of Seed to Success Alastair sits down with Emma Rees, CEO and co-founder of Deployed, who shares her unique journey and insights as a female founder in tech. She opens up about her experiences navigating the complexities of a male-dominated industry and emphasises the need for allyship among women in business. Emma highlights the importance of timing, mentorship and the lessons learnt from early ventures. Discussing the very specific challenges of building an enterprise SaaS, Emma shares valuable insights for fundraising, project management and maintaining a work-life balance. With a candid account of the struggles and successes she’s faced as a female entrepreneur, Emma offers practical ideas for real change. This episode is a must-listen for anyone passionate about tackling gender imbalances and fostering inclusivity in the tech world! _ Show notes: 00:00:00 - Redefining success 00:00:47 - Deployed's mission 00:01:50 - Growth and recognition 00:03:29 - From hairdressing to tech 00:09:08 - Lessons from early ventures 00:14:11 - Timing in business 00:17:08 - Managing a product team 00:20:59 - Building a strong engineering team 00:24:13 - Building an MVP for enterprise customers 00:28:07 - Working with enterprise customers 00:31:01 - CAC and sales cycle 00:32:20 - Benefits of mentoring groups 00:36:43 - Co-founding a business with family and friends 00:40:30 - Lack of female allyship 00:43:56 - Gender bias in business conversations 00:46:45 - Addressing gender roles and equality 00:48:26 - What is success? 00:51:28 - Advice for founders 00:55:22 - The struggle of present reflection 00:54:43 - Connecting with Emma

May 14, 2024Episode 843 min

Product, distribution and purpose with Adam Oskwarek from Zopeful Climate

In this episode of Seed to Success, Alastair chats to Adam Oskwarek, founder of Zopeful Climate who shares his entrepreneurial journey building successful businesses with a climate-focused approach. He delves into the complexities of carbon removal start-ups, the significance of sustainable growth, and the impact of external funding on business growth, sharing alternative approaches to traditional start-up models. Adam shares his lessons learned from previous ventures and provides practical and valuable insights for aspiring founders. His commitment to creating purposeful, impactful change is a driving force behind his venture and his journey offers a unique perspective for entrepreneurs seeking sustainable growth and climate-focused strategies. Adam's experiences serve as a source of valuable lessons and inspiration for entrepreneurs looking to implement purposeful business sustainability. _ Show notes: 00:00:00 - Introduction 00:01:18 - What is Zopeful Climate? 00:03:41 - The mission 00:05:00 - Evolution of carbon removal 00:08:37 - Building Zopeful Climate 00:11:48 - Lessons from previous ventures 00:15:49 - The resilience mindset of successful founders 00:18:31 - Embracing the gritty reality of entrepreneurship 00:22:32 – Alternative models for funding 00:27:03 - The impact of external capital on business direction 00:29:23 - Finding purpose through market research 00:31:12 - Quick iteration and feedback loop 00:34:50 - Personal passion and business success 00:38:33 - Tracking metrics and lead indicators 00:40:54 - Advice for founders

April 30, 2024Episode 71 hr 1 min

Building a two-sided marketplace with Laura Beales from Tally Workspace

In this episode of Seed to Success, Alastair sits down with Laura Beales, COO and co-founder of Tally Workspace who shares her insights into the challenges and triumphs of building a two-sided marketplace model in the property business. Laura’s journey from accountant to tech entrepreneur offers practical advice for founders navigating the complexities of scaling a start-up and creating a respected brand in business. Laura discusses the importance of adaptability, prioritising advice over money, and the significance of understanding strategic drivers in a two-sided marketplace model. Tune in to hear about her experiences fundraising, building a strong co-founder dynamic, strategic pivots and leveraging grants for early-stage businesses! _ Show notes: 00:00:00 - Introduction 00:00:39 - What is Tally Workspace? 00:01:44 - Laura’s background 00:02:54 - Transition to entrepreneurship 00:08:04 - Evolution of Tally Workspace 00:15:06 - The importance of user research and adaptation 00:16:26 - Co-founder relationship 00:21:50 - Funding and grants 00:27:53 - Fundraising tips 00:28:12 - Building trust with angel investors 00:32:44 - Investing in people 00:34:03 - Governance and reporting 00:36:32 - LTV to CAC ratio 00:43:24 - Tracking interactions 00:44:17 - Importance of GMV

April 16, 2024Episode 658 min

Why and how I bootstrapped to £1m ARR!

In this episode of Seed to Success, Alastair chats to founder and CEO of Trust Keith, Rory Codrington, who discusses his founder journey and shares how the lessons from previous ventures shaped his strategic decisions for his latest business. Rory discusses the importance of market validation, understanding customer value, and leveraging strengths to shape the direction and value proposition in B2B. His practical insights on navigating regulatory compliance, bootstrapping, and thoughtful business model considerations provides inspiration for listeners looking to embark on their own founder journey and those seeking strategic guidance. If you’re keen to hear about the complexities of entrepreneurship and gain some practical advice to fuel your founder mindset, then this one’s for you! _ Show notes: 00:00:00 - Introduction 00:01:16 - What is Trust Keith? 00:02:18 - The complexity of regulation 00:04:55 - Business growth and team size 00:05:53 - Founding principles and business evolution 00:12:23 - Entrepreneurial mindset and business strategy 00:15:04 - Passion vs. practicality 00:21:47 - Strategic planning and long-term goals 00:23:19 - All-you-can-eat business model 00:27:53 - Role of experts and technology 00:26:45 - Balancing technology and people 00:29:05 - Iterative product development 00:31:19 - Evolution of compliance solutions 00:34:52 - Technology development journey 00:36:40 - Bootstrapping and funding 00:41:00 - Building a business and understanding customer needs 00:46:22 - Overcoming hiring challenges and achieving efficiency 00:49:26 – Lessons learned 00:54:02 – Favourite metrics 00:56:06 – Advice for founders

March 26, 2024Episode 556 min

When product vision blinds you from seeing reality!

In this episode of Seed to Success, Alastair sits down with Sebastian Trif, former CEO and co-founder of Aurelia, who shares his valuable insights on navigating the complexities of start-up growth, and the difference between searching for product-market fit and executing it. In this candid chat, Sebastian discusses the dynamics between technical and non-technical co-founders, the importance of paying yourself today (not tomorrow), and the balance of vision with practicality in the founder journey. Tune in to hear about the critical difference between idea and execution and learn from Sebastian’s own experience navigating the complexities of the early-stage start-up landscape. _ Show notes: 00:00:00 - Intro 00:00:59 - Introduction to Aurelia 00:03:16 - Origin story and vision 00:05:04 - Meeting my co-founder 00:08:11 - Technical founder advantage 00:13:04 - Securing funding in a tight market 00:16:37 - Investor process and quick deal closure 00:18:24 - Cash burn and revenue generation 00:21:23 - Team composition 00:24:04 - Importance of mentorship 00:26:58 - Underpaying yourself as a founder 00:29:51 - Recognising lack of product-market fit 00:35:30 - Early Adopters Hub 00:36:46 - Realising the need to pivot 00:38:36 - Emotions and decision making as a founder 00:40:31 - Intuition and team culture 00:43:49 - Involving investors in the decision 00:49:09 - Key metrics 00:51:08 - Learning from mistakes 00:52:29 - Vanity benchmarks 00:54:10 - Advice for early-stage founders 00:55:42 - Conclusion

March 19, 2024Episode 41 hr 0 min

Fundraising secrets from a VC insider: How to win over investors

In this episode of Seed to Success, Alastair explores the world of Venture Capital with Audrey Miller of Tapestry, a seed and pre-seed VC firm that focuses on repeat founders. Get ready for a deep dive into the pulse of early-stage funding as Audrey unveils the latest trends and sheds light on the market's countercyclical nature. She discusses the need for VCs to go beyond just providing capital and answers the question we all want to know – what are VCs really looking for? This episode is a must listen for anyone navigating the complex world of early-stage VC funding. Whether you're a seasoned entrepreneur or a start-up founder looking to secure funding, this episode offers actionable advice and takeaways. _ Show notes: 00:00:00 - Intro 00:02:13 - What makes Tapestry unique 00:07:57 - Repeat founders 00:13:32 - Importance of big TAM 00:14:34 - Technical founders 00:16:35 - Advantages and disadvantages of naivety 00:16:53 - Importance of founder experience 00:18:11 - Number of co-founders 00:20:26 - Team, product, or market? 00:27:36 - Investment process 00:33:40 - Team approach in investing 00:34:12 - Tapestry's investment focus 00:35:03 - Investment decision-making 00:38:00 - Deal sourcing 00:43:25 - Ongoing communication 00:47:11 - Key metrics 00:51:09 - Early-stage VC trends 00:52:32 - Impact of market downturn 00:54:54 - Hot sectors and trends 00:57:48 - Cyclical nature of VC 00:58:55 - Top tip for founders

March 12, 2024Episode 348 min

Raising £750k for a SaaS that had no product/market fit

In this episode of Seed to Success, Alastair chats to budding entrepreneur Andrew Jordan who reflects on his start-up journey as a solo founder. His vision for Connect4, a meeting management platform, stemmed from his experience in management reporting and business analytics, although he soon realised there was a lack of passion in his mission. From the importance of embracing failure to navigating challenges in product development and fundraising, Andrew's experience offers a raw and candid look at the realities of starting a tech business and highlights the emotional and financial commitment often made by founders. If you’re an aspiring entrepreneur eager for insights into the complexities of start-up life and the reality of all the setbacks – this one’s for you! Andrew’s honesty and openness make this a must listen for those looking to implement valuable lessons for their own start-up. _ Show notes: 00:00:00 - Intro 00:01:49 - The vision of Connect4 00:03:53 - Transitioning to entrepreneurship 00:06:20 - Impact of 2020 00:11:20 - Personal investment 00:13:38 - First customer 00:15:57 - Fundraising and investment 00:17:13 - Investor confidence 00:22:25 - Reflection and demise 00:26:32 - Tapping into network 00:28:19 - Early angels 00:29:46 - Mentorship and support 00:32:31 - Product challenges and market fit 00:36:50 - Pivoting and restructuring 00:40:31 - Prioritising mental health 00:42:11 - Facing setbacks 00:43:29 - Lessons from an unsuccessful venture 00:47:08 - Key metrics 00:48:20 - Conclusion

March 5, 2024Episode 250 min

How I bootstrapped and sold a SaaS in just 24 months!

In this episode of Seed to Success, Jonathan Gaunt sat down with Alastair to share his journey of building and selling Xavier (now Dext Precision) in just 24 months! They discuss the importance of founder-product-market fit, traction, strategic decision-making, and focusing on customer acquisition. Jonathan’s first-hand experience provides a valuable lesson for entrepreneurs seeking to refine pricing strategies and grow their businesses. His experience highlights the significance of adaptability, quick decision-making, and a deep understanding of customer needs. If you’re navigating the complexities of building and selling a start-up – consider this episode a must! _ Show notes: 00:03:38 - Catalyst for change 00:04:23 - The birth of Xavier 00:08:35 - Making tough decisions 00:15:46 - LinkedIn profile visits 00:17:29 – The competition 00:19:09 - Building to sell 00:21:55 - Exit strategy 00:25:34 - Land and expand 00:31:40 - Pricing strategy and challenges 00:32:30 - User testing and pricing 00:34:18 - Company growth and sale 00:41:20 - Valuation and EBITDA 00:47:41 - Bootstrapping vs. Venture Capital 00:48:25 - Keeping the business small and nimble 00:48:46 - Favourite metric 00:49:35 - Satisfaction 00:50:00 - Looking ahead

February 27, 2024Episode 147 min

From VC to founder: Lessons on how to pitch your start-up

In this episode of Seed to Success, Alastair sits down with Piotr Pisarz, the brains behind Uncapped, a revenue-based finance provider. He shares his journey from Venture Capitalist to founder/CEO and his insights into securing non-equity financing for start-up growth. Piotr's experience and out-of-the-box thinking led him to identify the untapped potential of the debt market, offering valuable lessons for start-up founders and CEOs seeking funding. When Uncapped hit serious speed bumps trying to raise a Series B, Piotr and his team were forced to take a hard look in the mirror and make some tough decisions. Without easy access to piles of cash, Uncapped started operating more lean leading to profit and growth! Piotr gets straight to the point in this episode - from handling cofounder breakups to the importance of sleep, diet and training like an athlete so you can go the distance as a founder. If you're in the game of start-up financing or aiming to fund your venture without sacrificing equity, consider this a must-listen. _ Show notes: 00:00:00 - Intro 00:01:07 – What is Uncapped? 00:02:50 - Benefits of debt vs. equity 00:06:31 - Transition from VC to Founder 00:13:55 - Pitching strategy 00:15:32 - Fundraising lessons 00:17:20 - Hiring and customer acquisition 00:21:54 - Rapid product development 00:24:59 - Business growth and expansion 00:28:53 - Expansion challenges and mistakes 00:29:31 - Investor pressure 00:33:40 - Founder breakups 00:35:14 - Managing stress and self-care 00:37:11- Dysfunctional team dynamics 00:44:08 - Series B process 00:45:24 - The intersection of fast growth and profitability 00:45:42 - Key metrics for business success 00:46:27 - Long-term perspective in entrepreneurship 00:46:53 - Balancing work and personal life 00:47:36 - Conclusion