Entrepreneur 2 Entrepreneur: Matt Bauer on ending [Part 3]

sourced

Categories

Matt Bauer Pedal Brain

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.

Sponsors