$100M+ Exit – Minnie Ingersoll, Shift

Explicit content warning

11/14/19 • 53 min

Beyond 8 Figures

In this episode, Steve, Mary, Richard, and Minnie Ingersoll discuss:

The process of raising money as your business grows
The value of a strong team
The future of entrepreneurship and whether working toward a billion-dollar status is worth it
Where the next big opportunities lie

Key Takeaways:

Show up, tell the truth, hope for the best
People, product, and market- people will invest in the person if you show them you are worth the investment
Venture capital when used in the right way can be extremely beneficial for society as a whole
Having a product and customers are vital for investors

“When there aren’t spreadsheets with years of history to look at, people are looking at people, product, and market.” — Minnie Ingersoll

About Minnie Ingersoll: Partner at TenOneTen actively investing in great teams. We are operators who invest early (pre-seed, seed, seed+) and love working with technical founders who are passionate about what they’re building.

Prior to TenOneTen, I was founder and COO at Shift, an online marketplace disrupting the $1.2T car industry by providing a better experience for buying and selling used cars. Grew to a $100M+ business and a recent Series D.

Started my career as an early product manager at Google. In my spare time, I volunteer for city government, surf baby waves, and raise baby people.

Connect with Minnie Ingersoll:

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In this episode, Steve, Mary, Richard, and Minnie Ingersoll discuss:

The process of raising money as your business grows
The value of a strong team
The future of entrepreneurship and whether working toward a billion-dollar status is worth it
Where the next big opportunities lie

Key Takeaways:

Show up, tell the truth, hope for the best
People, product, and market- people will invest in the person if you show them you are worth the investment
Venture capital when used in the right way can be extremely beneficial for society as a whole
Having a product and customers are vital for investors

“When there aren’t spreadsheets with years of history to look at, people are looking at people, product, and market.” — Minnie Ingersoll

Started my career as an early product manager at Google. In my spare time, I volunteer for city government, surf baby waves, and raise baby people.

Connect with Minnie Ingersoll:

Follow Beyond 8 Figures:

Previous Episode

Rebecca Costa, Dazai Advertising Inc.

Rebecca Costa Exited Dazai Advertising Inc.

Best Advice I Ever Received: If you don’t fail big then maybe you haven’t aimed high enough.

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business: The most important advice is to differentiate! Differentiating yourself, your product and services, translates to commanding higher prices.

In this episode, Steve, Mary, Richard, and Rebecca discuss:

How to prepare for an exit
Finding your focus as a company
Branding and diversifying
The future of technology

Key Takeaways:

If you don’t fail big then maybe you haven’t aimed high enough
Owning your own business will always require you to be there, no matter how many people you hire
Your brand is the most important differentiator
Look for what is obvious in human behavior, even if it seems trivial

“The number one differentiator, is a perceived differentiator. That is the enduring differentiator that you can have. Perception is reality. So, the perceived differentiator that is worth investing in, is your brand.” — Rebecca Costa

About Rebecca Costa: World renowned sociobiologist and futurist, Rebecca Costa, shows how artificial intelligence-powered predictive models can predict future events with unprecedented accuracy, paving the way for leaders to act before-the-fact. Using real world examples, she demonstrates how the certainty of future outcomes is changing the way businesses and governments solve problems and preempt danger. Costa’s work has been heralded by Richard Branson, John Sculley, E.O Wilson, Jim Lehrer, George Mitchell, Alan Dershowitz and Nobel laureates such as James Watson, and featured in The Washington Post, USA Today, New York Times, San Francisco Chronicle, etc.

Connect with Rebecca Costa:
Twitter: rebeccacosta

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Next Episode

$10M+ Exits – David Finkel, Multiple Companies

David Finkel’s clients enjoy an average annual growth rate five times higher than the average privately held company in the United States, and at the same time, these business leaders have dramatically decreased their working hours.

Over the past 20 years, David and the other Maui coaches and advisors have personally started and scaled companies with an aggregate value of $63 billion.

About David Finkel:

David Finkel is the CEO of Maui Mastermind, a leading coaching company dedicated to empowering entrepreneurs on their path to success. With a passion for helping business owners, he focuses on helping them not only build thriving companies but also regain valuable time for themselves.

Beyond his role as CEO, David is a best-selling author with 12 business and financial books. His books, including “The Freedom Formula,” “Making Big Money Investing in Real Estate,” “Scale,” “The Real Estate Fast Track,” and “Making Big Money Investing in Foreclosures,” offer practical guidance on achieving business success, gaining personal freedom, and mastering real estate investing, making them essential reads for anyone looking to grow their companies without sacrificing their time and well-being.

Browse our curated collection of Business Books for more enriching reads.

In this episode, Steve, Mary, Richard, and David discuss:

You make the path by walking
3-steps for getting started
US National Soccer Team moment and how it helps in business now
The Sweet Spot Analysis (www.FreedomToolkit.com)

Key Takeaways:

Hire better, smarter people so I don’t have to rely on me
How can you put a team in place when the cash flow isn’t there
What keeps David up at nights

Best Advice I Ever Received:

When presented with a challenge, ask the question, “I don’t know, what do you think we should do?”

Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:

Narrow your focus. Most business owners try to do too many things and spread resources over too many opportunities and initiatives. The most successful companies I’ve ever built and ever coached have narrowed their resources to focus on their very best opportunities so that they put more of their best time, talent money and attention on those fewer opportunities that have a bigger impact and can make a bigger difference.
Connect with David Finkel:

Twitter: @DavidFinkel
Website: http://www.mauimastermind.com
Email: [email protected]
YouTube: youtube.com/user/buildmybusiness
LinkedIn: maui-mastermind

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