How to Start a Company Without Quitting Your Job - Kim Perell π’ EP124
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Oh my goodness. Thank you so much for having me. So excited to see you today and just love being with you, Dan. So, Two Minute Bio. Okay, well, let's see. I started my first company at my kitchen table in Hawaii and then I sold that five years later. I sold my last company for 235 million to Singapore Telecom, worked at a publicly traded company out of Singapore for almost six years. Invested as you said probably in close to 150 companies. I know but it had at least 50 exits still good vintages to come Yes, so I've invested and started young started young and I think honestly to your point. It's about giving back So being able to continue to pay that forward my grandma made a bet on me and I really you know Look to pay that forward.
That's awesome. Okay so on the make money side Why do you think it's important for entrepreneurs starting a company to make some money first before they ask investors for a check?
Yeah, you have to have proof of concept, product market fit. As an investor, and I invest a lot, if you just tell me you have a great dream, and I love a great dream, right? But if no one actually is willing to pay for that dream, it is a hobby. Right. And so you need to actually be out there and be like, Dan, are you going to buy my Juni? Because it is delicious. It is only five calories, zero sugar. It's got ashwagandha and lion's mane and reishi mushroom. Dan, you're going to be like, Kim, I would pay five bucks for that. Good news, it's not five bucks, but... someone wants to buy.
Right. So the way I describe it is prove that someone cares. People vote with their wallets. And will it sell in the wild? Meaning, will this product, Junie, sell without Jay Shetty, without his wife, without Kim Perel? Will it sell on the shelf by itself when no one's around to talk about it? And if it does, because they see the color or the name and then they taste the flavor and now they're addicted, that is investable, right? Proving that someone cares and it can sell when no one's around.
I totally agree. Well, we actually just had our first launch at Costco and it sold like hotcakes. So I feel like, you know, regardless of who's involved, it's a great drink. But I also think it's based on market opportunity. There's a big market opportunity. People are moving towards health and wellness and they're really focused on fitness. And the drink's perfect for that.
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