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Tom Digan

đŸ‘€ Speaker
322 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

It was survival.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

Tell them you have no money.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

One of the biggest lessons, particularly from that moment, is selling people on your conviction.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

In that moment, we were selling both the product that we were about to shut down, but we didn't really even have visuals yet for the new product.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

So it was as much just selling the team and the conviction on what you were about to build.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

I think the best example of that

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

a story about another friend of ours, we'll call him Bill, in March of 2020, trying to kickstart a round.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

But no one's going to lead this round, naturally, because who would lead a round in our business at that moment?

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And so I was about to lead another inside round where basically I'm pricing the round and passing the hat to all the boys and whoever would listen.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

What happened there was now I need some more cash.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

I don't think Braden knows how many times I wrote check into the business.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

This was another example of being like, all right, the only way to get this going is to write the first check,

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

and lead with that conviction showing that you had skin in the game here again.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

At this point, I'm trying to figure out how to sell anything that's not nailed down.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And so it's 401k, put that in, done.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

What else can we do?

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

This story here is funny because I'm looking at the line items on the balance sheet, if you want.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

I'm like, oh, permanent equity.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

That's Patrick's friend, Brent B. Shore.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And Brent came and told his story on this podcast.