Three Big Takeaways:
- Create a business that solves a problem.
- When trying to build a talented team, focus on the vision/mission.
- Take bigger risks when you have less to lose. Even if you fail, you’ll learn a lot by trying to figure things out.
Other Takeaways for entrepreneurs:
- 2:20 A great example of starting a business to solve a problem.
- 6:10 How Welbi aggregates data into information to create a community within a community.
- 10:58 Elizabeth explains how much time Welbi saves on administrative tasks for recreation teams.
- 14:50 Think big to build something scalable.
- 17:28 Welbi’s competitive advantage - More than just analog to digital.
- 21:10 On choosing a name.
- 23:33 How to compete with larger companies with more money for talent.
- 33:00: When and why to pivot - Drill down on the problem you’re trying to solve.
- 37:22: Why COVID eventually caused business to accelerate their technology adoption.
- 39:20 How to find a technical co-founder.
- 45:30 Why it is a good idea to take risks while you’re young.
- 49:31 How a lifetime of playing sports helped Elizabeth in business.
- 52:22 How Elizabeth refined her investor pitch. An easy thing to do, but most founders don't!
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