#30 - How to get your startup acquired by a Fortune 500 company, with Craig Walker
05/18/20 • 27 min
Startup life is definitely not a straight line, but it can be a very rewarding one. Entrepreneur Craig Walker visits the Shontavia Show to talk about his experience starting, growing, and selling his startup, Vidistar. Craig founded Vidistar in 2004 out of a need to test his unborn child's growth and development, and the company was ultimately acquired in 2018 by Hitachi Healthcare Americas Corporation, a wholly owned subsidiary of Hitachi.
Craig walks through the early days of his startup, including working full-time to build it, agonizing over the decision to quit his full-time job, and building a successful company that attracted a buyer.
If you've ever wondered how startup acquisitions work, this is the episode for you!
// Show Highlights
04:37 How entrepreneur Craig Walker came up with the idea for his startup company
07:16 How Craig went from idea to company
09:29 How Craig used his full-time, professional career to support his entrepreneurial endeavors
10:48 When Craig decided to quit his full-time job and work full-time on his startup
12:00 How Craig grew his company exponentially year over year
13:07 How Craig found good mentors while he was building his company
16:42 How Craig sold his startup, Vidistar, to Hitachi
18:44 How Craig and his team decided which inventions to patent
23:51 Craig's advice to new founders and people who want to build startups
// Show Notes
Hitachi to Expand its Clinical Reporting and Analytics for Diagnostic Imaging with the Acquisition of VidiStar: https://www.hitachi.us/press/hitachi-to-expand-its-clinical-reporting-and-analytics-for-diagnostic-imaging-with-the-acquisition-of-vidistar
Hitachi affiliate’s acquisition of Greenville-based Vidistar a ‘win-win’: https://upstatebusinessjournal.com/tech-design/hitachi-affiliates-acquisition-greenville-based-vidistar-win-win/
SC Launch: https://www.scra.org/how-sc-launch-works/
// Internet + Social Media
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YouTube: https://www.shontavia.tv
Startup life is definitely not a straight line, but it can be a very rewarding one. Entrepreneur Craig Walker visits the Shontavia Show to talk about his experience starting, growing, and selling his startup, Vidistar. Craig founded Vidistar in 2004 out of a need to test his unborn child's growth and development, and the company was ultimately acquired in 2018 by Hitachi Healthcare Americas Corporation, a wholly owned subsidiary of Hitachi.
Craig walks through the early days of his startup, including working full-time to build it, agonizing over the decision to quit his full-time job, and building a successful company that attracted a buyer.
If you've ever wondered how startup acquisitions work, this is the episode for you!
// Show Highlights
04:37 How entrepreneur Craig Walker came up with the idea for his startup company
07:16 How Craig went from idea to company
09:29 How Craig used his full-time, professional career to support his entrepreneurial endeavors
10:48 When Craig decided to quit his full-time job and work full-time on his startup
12:00 How Craig grew his company exponentially year over year
13:07 How Craig found good mentors while he was building his company
16:42 How Craig sold his startup, Vidistar, to Hitachi
18:44 How Craig and his team decided which inventions to patent
23:51 Craig's advice to new founders and people who want to build startups
// Show Notes
Hitachi to Expand its Clinical Reporting and Analytics for Diagnostic Imaging with the Acquisition of VidiStar: https://www.hitachi.us/press/hitachi-to-expand-its-clinical-reporting-and-analytics-for-diagnostic-imaging-with-the-acquisition-of-vidistar
Hitachi affiliate’s acquisition of Greenville-based Vidistar a ‘win-win’: https://upstatebusinessjournal.com/tech-design/hitachi-affiliates-acquisition-greenville-based-vidistar-win-win/
SC Launch: https://www.scra.org/how-sc-launch-works/
// Internet + Social Media
Website: https://shontavia.com/
Twitter: https://twitter.com/ShontaviaJEsq
Instagram: https://www.instagram.com/shontaviajesq/
Facebook: https://www.facebook.com/shontaviajesq/
LinkedIn: https://www.linkedin.com/in/shontaviajesq/
Tumblr: http://shontaviajesq.tumblr.com/
YouTube: https://www.shontavia.tv
Previous Episode
#29 - Where to begin with starting a business when you don't know where to start
On Thursdays, Shontavia provides thoughts on your questions and reviews interesting things she's read, listened to or watched. On this #ThursdayThoughts episode, Shontavia answers a question about how to start a business when you don't know where to start.
In Shontavia's response, she outlines:
- the questions you need to ask yourself when you hate your job and want to start a business,
- one foolproof way to find out what's happening in your industry of choice, and
- how to determine what makes you unique in even the most crowded of marketplaces.
and much more. Check out the full episode for all of the gems and nuggets being dropped.
// Show Highlights:
01:08 The question: How do I start a business when I don't know where to start?
02:59 Why Shontavia reads Wikipedia pages to grow her business and brand
03:52 Questions to ask when you hate your job and want to start a business
06:18 One foolproof way to find out what's happening in your industry or field
07:50 How to determine what makes you unique in even the most crowded of marketplaces
11:52 Taking advantage of free resources when you want to start a business or make a career change
13:23 Finding an accountability partner
14:07 Finding inspiration in other people's successes
// Show Notes
+50 places you can start when you’re broke and don’t know where to start, with inspiration from Dr. Martin Luther King Jr.: https://shontavia.com/50-places-you-can-start-when-youre-broke-and-dont-know-where-to-start-with-inspiration-from-dr-martin-luther-king-jr/
Thursday Thoughts: 3 side hustle strategies when you can’t quit your day job: https://shontavia.com/thursday-thoughts-3-side-hustle-strategies-when-you-cant-quit-your-day-job/
// Internet + Social Media
Website: https://shontavia.com/
Twitter: https://twitter.com/ShontaviaJEsq
Instagram: https://www.instagram.com/shontaviajesq/
Facebook: https://www.facebook.com/shontaviajesq/
LinkedIn: https://www.linkedin.com/in/shontaviajesq/
Tumblr: http://shontaviajesq.tumblr.com/
YouTube: https://www.shontavia.tv
Next Episode
#31 - From Solopreneur to Hiring a Team, with startup founder Harold Hughes
Harold Hughes, the CEO of startup Bangwagon Fanclub Inc., speaks about going from doing everything on his own to growing the Bandwagon team to now 6 people. He provides some insightful keys on how to successfully choose the right people at the right time. Harold's interview style and questions have been highlighted in Fast Company magazine, and it is clear why! From using creative compensation strategies to hire quality employees when the business had no money, to dealing with new hires who quit before they even start, to investing heavily in employees that may one day leave, Harold lays it all on this line in this episode.
// Show Summary
04:20 When Harold knew he needed to hire people, and who he started with
06:52 How Harold hired a software developer with no money using deferred compensation
09:12 How to convince other people to work with you for free
11:33 How to choose the right candidates without a formal interview process
15:36 How to choose the right candidates when there is a formal interview process
17:33 Would you rather be King or be rich? One of Harold's favorite interview questions
20:22 How to handle rejection after a candidate takes, and then declines, a job offer
27:16 How to ensure that your employees become your company's biggest evangelists
32:06 Why the transformative power of transparent storytelling is important for black founders
// Show Notes
Raising Startup Capital with Bandwagon Founder and CEO Harold Hughes: https://shontavia.buzzsprout.com/795392/2884930-15-raising-startup-capital-with-bandwagon-founder-and-ceo-harold-hughes
The Bandwagon Fanclub Team: https://bandwagonfanclub.com/team/
9 CEOs share their favorite interview questions: https://www.fastcompany.com/90378682/9-ceos-share-their-favorite-interview-questions
Harold's Twitter thread about hiring: https://twitter.com/OneBandwagonFan/status/1201498739258646528?s=20
// Internet + Social Media
Website: https://shontavia.com/
Twitter: https://twitter.com/ShontaviaJEsq
Instagram: https://www.instagram.com/shontaviajesq/
Facebook: https://www.facebook.com/shontaviajesq/
LinkedIn: https://www.linkedin.com/in/shontaviajesq/
Tumblr: http://shontaviajesq.tumblr.com/
YouTube: https://www.shontavia.tv
The Shontavia Show - #30 - How to get your startup acquired by a Fortune 500 company, with Craig Walker
Transcript
What's up, y'all. Welcome to The Shontavia Show, where my goal is to help you start a business based on your life's vision. This ain't gonna be your daddy's business advice. I'm laser focused on entrepreneurship in the 21st century, vision and breaking the traditional mold. If you can get with that, you can get with me, be sure to visit shontavia.com for more episodes, blog posts, and other content. Thank you for listening. The show start
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