Thank you to Split Rock Partners for underwriting the Entrepreneur 2 Entrepreneur series.
Minnesota tech entrepreneur Michael Noble recently discussed the launch of his latest startup, Apruve during Minnebar, where he subsequently coined the phrase “pivot towards the pain.”
Noble has been living in startup land for years (LimeWire & Nitch), learning a bit about the importance of pivoting early on.
1) What do you mean by “Pivoting”?
Thank you to Split Rock Partners for underwriting the Entrepreneur 2 Entrepreneur series.
Minnesota tech entrepreneur Scott Litman has been formally cultivating entrepreneurship in Minnesota since 2005 when he formed the Minnesota Cup with business partner Dan Mallin to “pay it forward to the next generation of entrepreneurs.”
The statewide business plan competition has seen over 7,000 participants and awarded over $1m over the past eight years, notably bolstering dozens of Minnesota tech startups.
Litman is a relentless businessman currently building another tech company, Magnet360, with a vision to surpass his previous success. He’s also an investor and advisor.
Thank you to Split Rock Partners for underwriting the Entrepreneur 2 Entrepreneur series.
Veteran Minnesota tech entrepreneur Chris Heim has identified what he considers to be a “brain defect” that keeps him coming back to the entrepreneurial table again and again.
His journey began as an intern with HighJump Software — the same company that he would eventually sell for $90m to 3M in 2003. From 2006 – 2011, Heim and partner Dan Mayleben acquired and grew Amcom Software to $52m and 250 employees before liquidating for $163m.
Thank you to Split Rock Partners for underwriting the Entrepreneur 2 Entrepreneur series.
Minnesota tech entrepreneur Chad Halvorson is the CEO of thisCLICKS , makers of When I Work, a cloud-based mobile employee scheduling software.
“Our partnership initiative is relatively new, so many are still in the works. We are still finalizing our plans with some of them, so I can’t reveal too much about our execution strategies. However, here are four that we are currently working with.”
When asked about a theme that resonated with you to address with your entrepreneurial peers, you chose ‘partnerships’. Why?
The tech ecosystem is chock-full of companies that are incredibly focused on solving one problem really well. That means there are tons of tech companies that likely share the exact same target market. Because of this, partnerships present huge opportunities for scaling and adding value.
Thank you to Split Rock Partners for underwriting the Entrepreneur 2 Entrepreneur series.
Adam Sellke has been around the entrepreneurial block before, having started multiple tech companies and — more importantly — seen some through. His current and most ambitious pursuit is Evolve, a social gaming platform with roots dating as far back as 2006.
Over time, through trial and tribulation, Sellke has lead Evolve through funding milestones driven by a mix of traction and tenacity. And if that wasn’t enough of a challenge, or perhaps risk, he’s recently teamed up on a more experimental project called *Slinger.
When asked about a theme that personally resonates with your own entrepreneurial experiences so far, you chose ‘risk’. Why?
“Risk” seems to be a frequent topic of interest amongst curious onlookers and aspiring entrepreneurs. It’s also an interesting variable on the investment side of startups.
Minnesota tech entrepreneur Zach Supalla experienced an aha moment when ideating a method for his deaf father to be notified when he had an incoming text message.
The solution is Spark, a hardware + software startup that connects lights to the internet for control from a smartphone, tablet, or computer. Supalla and crew launched their fundraising campaign on the massively popular Kickstarter platform last month, but only closed on $125k – just half of the $250k target sought.
While Kickstarter funding is an all or nothing pursuit, entrepreneurship is not, and Spark is moving forward as Supalla explains in this Entrepreneur 2 Entrepreneur interview:
Special thank you to Split Rock Partners for underwriting the Entrepreneur 2 Entrepreneur series.
Minnesota Tech Entrepreneur Thompson Aderinkomi has been pursuing disruption in the healthcare insurance industry since experiencing the pain points first hand over two years ago.
“The current healthcare system, with its relationships between primary care doctors and insurance companies, sucks (like a vampire) and must die,” he declares. “Preventative medicine can be made affordable to every man, woman and child in this country.”
His remedy, RetraceHealth, aims to eradicate waste from the healthcare system through software and technology enabled primary care solutions. While the startup has yet to experience the outcomes Aderinkomi initially sought, this change agent is openly adapting; a sure fire sign of the entrepreneurial growth he speaks to.
When asked what theme resonates with where you’re at as a tech entrepreneur, you chose ‘growth’. Why?
Minnesota technology entrepreneur Matt Bauer unexpectedly announced last month that Pedal Brain would be closing shop after 4 years and $1m funding due to “collateral damage.”
We asked Bauer he if would elaborate on the details of what happened, maybe share some insights and lessons learned with the pure candor that he’s known for. Following is the third segment [part 1 & part 2] of our interview as part of the Entrepreneur 2 Entrepreneur series:
What advice do you have for tech other entrepreneurs pursuing big and risky things?
Before I can answer that, I need to say something that isn’t said nearly enough. Chances are very good if you’re an entrepreneur seeking investment you’re not pursuing something big and risky enough to justify investment. What you’re calling a startup is really just a new business – the modern day equivalent of a 1950s local grocery store, barbershop or car dealership. I’m not knocking your pursuit. I just want to bring some clarity to the situation and hopefully convince you to go bigger – much bigger. Build what you’re thinking of currently after you’ve failed going bigger a few times. Or maybe don’t because you’ve made it with your bigger idea.
Minnesota technology entrepreneur Matt Bauer unexpectedly announced last month that Pedal Brain would be closing shop after 4 years and $1m funding due to “collateral damage.”
We asked Bauer he if would elaborate on the details of what happened, maybe share some insights and lessons learned with the pure candor that he’s known for. Following is the second segment of our interview [read the first here] as part of the Entrepreneur 2 Entrepreneur series:
Why not keep going, you already had half the money?
The investor that didn’t want to continue had a preferred position and thus making a new investment by anyone very unlikely. This includes my willing investor as his terms were for the preference to be removed prior to his investment. When you raise money it’s done along a curve. Depending on a large number of factors that curve is either favorable or not to new investors, existing investors and founders. We were in that unique place where it’s wasn’t favorable for anyone.
Minnesota technology entrepreneur Matt Bauer unexpectedly announced last month that Pedal Brain would be closing shop after 4 years and $1m funding due to “collateral damage.”
We asked Bauer he if would elaborate on the details of what happened, maybe share some insights and lessons learned with the pure candor that he’s known for. Following is the first segment of our interview as part of the Entrepreneur 2 Entrepreneur series:
What happened to Pedal Brain?
Before I answer, I want to make one thing very clear. The decision to end Pedal Brain was my decision. Yes there were many outside forces that pushed this decision but ultimately only a founder can end a startup just as only a founder can start it. So as you read this, know that I blame no one and accept responsibility for all decisions made whether directly by myself or those acting in Pedal Brain’s capacity.
about Entrepreneur 2 Entrepreneur: Michael Noble on Pivoting
about Entrepreneur 2 Entrepreneur: Michael Noble on Pivoting
about Entrepreneur 2 Entrepreneur: Scott Litman on leadership
about Entrepreneur 2 Entrepreneur: Chris Heim on exits
about Entrepreneur 2 Entrepreneur: Chad Halvorson on partnerships