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Andy Swan

๐Ÿ‘ค Speaker
122 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

I want to own it all.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

I want to be the captain of this ship and not answer to anyone, even on a minority basis.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

I've been down that road.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

I've had two successful exits, and I feel like entrepreneurs, generally speaking, if they have the capability, are better off without external capital.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

The other one was called Day Trade Team.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

We sold that in 2006 to a private investor and private equity.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

And, you know, that kind of got us...

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

going a little bit.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

It was not a huge deal, two or three million bucks, but got us on the road to understanding how to build a company a little bit, and it put us on the map in the financial sector.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

We did not raise money in Day Trade Team at all.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

Personally, I think that staying focused and staying lean and staying focused on the product that you're delivering to customers rather than how much or how often you're marketing to them is the better advice, especially in the first two to four years of a startup's life.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

I think too many entrepreneurs are trying to do

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

to go too broad too soon, and the product suffers, they get too much capital, they hire too many people, and then you're kind of one blip away from not having even the ability to pivot, which I think is pretty dangerous.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

There's four teams.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

We just hired our fifth person in the Louisville office.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

And then we have a team of four people that have been with us in Argentina on the tech side.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

Same group of four has been with us for three years down there.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

Yeah, so that's a great question, and it's one of the toughest things for us to do.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

So in that example, the word never negates everything else in the tweet, and so that would actually come up as negative sentiment.

SaaS Interviews with CEOs, Startups, Founders
775: FinTech Founder: I'll Never Raise Capital Again!

Right.