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Tyler Tringas

๐Ÿ‘ค Speaker
978 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

We just, we were just sort of optimizing for the idea that we would raise like one to 2 million bucks, um, to, to execute this business plan.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

You know, we had this really new, the market, my, my co-founder also, you know, deeply understood the market, um,

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

We were like, look, it's probably the second longest sales cycle that exists outside of home buying.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

It's a very lengthy transaction.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

It takes like three to six months to close.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

So of course, we need capital to build a sales team to be able to compensate them in the interim.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

And we just sort of failed to launch essentially as a business, although we built a bunch of cool product.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

We never did anything material.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

I think we did like two or three grand in a month, but it was all like consulting projects and stuff.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

So yeah.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

Yeah.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

You, you, what?

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

We were just never optimizing for that.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

I didn't know about bootstrapping.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

I didn't know, you know, we just, we had sort of picked up this playbook that was like lean startup plus what we were reading from, you know, VCs blogs and stuff like that.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

And we were like, we're optimizing for

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

information and for our deck and for you know how we're going to raise and and then we were taking feedback from from all the vcs which i now know you know is a terrible thing to do don't ever listen to the feedback that vcs give you it's mostly optimized for you to just leave them alone and and refer other people to them it's not real advice like mostly don't take it and but we were like oh cool like they want to see these metrics and this traction and blah blah blah so we would run all these experiments and stuff like that and and so we were just shooting for that instead of like

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

building a sustainable business, which was in the end a sort of fatal flaw for it.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

Yeah, it was even before, yeah, it was on the side.

SaaS Interviews with CEOs, Startups, Founders
Tyler Tringas: How Earnest Capital Hopes to Re-Invent Startup Investing

So essentially what happened was, you know, like I said, there was this maybe 18 month period where it was like, we had a product, we had our pitch, we had everything.