Game-Changing Lessons that I learned from Interviewing a Founder Who Raised $300 MILLION, Went PUBLIC, and Now Runs a VC Firm

Have you wondered what it would take to raise over a hundred million dollars for your startup!!?

As the Entrepreneur-in-Residence at CSU Long Beach ( Institute for Innovation & Entrepreneurship, CSULB (IIE) ), I have had the opportunity to interview many incredible CxO, Founders, and Investors on ‘How to Startup’.

I recently had the privilege of interviewing Brendan Rogers , Co-founder of Wag! (NYSE: WAG) and now General Partner at 2am VC. In just a few years, Brendan has:

* Raised over $300 million in funding ??

* Founded a publicly listed company ??

* Transitioned to the other side of the table as a VC ??

Here are the three most powerful lessons I learned from our deep-dive conversation:

1. As a Founder Put Skin in the Game Before Seeking Investors

Brendan's journey started with just $1,200(> lack rupees) as a gift from his grandmother! This small amount was his ticket to Silicon Valley and the beginning of his entrepreneurial journey.

He emphasized: "Before you even think about venture capital, put your own money into the business. This shows that you've put your own skin in the game."

Brendan's hierarchy for funding: Your own savings > Friends and family > Angel investors > Venture Capital

"If you're afraid to ask somebody for money or advice, then being a founder may not be for you right now," Brendan cautioned. "The number one superpower you can have as a founder is being shameless."

2. Ask for Advice, Not Money

Brendan shared a counterintuitive strategy for fundraising: "When you ask for money, you get advice. But when you ask for advice, you get money."

He recommended this approach for first-time founders:

1. Use Crunchbase to find similar startups in your space

2. Look at their seed investors

3. Connect with these investors on LinkedIn

4. Ask for advice, not money

Brendan’s advise is: "Drop your ego. Reach out to angel investors, reach out to other founders, and just be a sponge. Get as much feedback and get as many data points as possible."

3. Understand What VCs Are Really Investing In

Now on the other side of the table at 2am VC, Brendan shared a surprising insight:

"As a VC, I often invest before there's even a product. You know what I'm investing in? The founder."

He looks for founders who have:

??????????? Experience at fast-growing startups

??????????? A history of launching businesses or projects

??????????? The ability to articulate their vision and the market opportunity

"We are, first and foremost, betting on whether the founders have the ability to launch a product, scale it, hire individuals, and get to that next step," Brendan explained.

Dive deeper into Brendan's insights and catch other game-changing conversations on our podcast!

Listen at

Spotify: https://spoti.fi/3W6ju9i

Apple: https://apple.co/3VPtEtA

Ps

?? Bonus Insight: On balancing work and life, Brendan shared, "If you truly love what you're doing and the relationships that you're building along that journey, it doesn't feel like work.”

Pps

Want more unfiltered advice from founders who've been there, done that?

Here are two must-listen episodes:

1.??????? ?? Nate Grey (Entrepreneur-in-Residence @ Harvard) on Ideation: Unlock the secrets to generating and validating startup ideas from an expert @ Harvard.

2.??????? ?? Walter Larkins (Sapphire RCMS, Exited from Johnson & Johnson) on Building the First Product and Achieving Product-Market Fit: Learn how to create a product that customers love and scale it to success.

?? Coming Next: Don't miss our upcoming episode with Rex Wong, Founding Investor at Applied Semantics (invented AdSense in the late '90s and sold to Google). He'll be sharing invaluable insights on innovation and exits.