Martin Vares is the CEO and Co-Founder of Fractory - a smart marketplace for metal fabrication. Martin is a mechanical engineer by training and has turned his passion for engineering and saving time on admin tasks into a thriving business.In this episode we talk about Fractory and how hard it is to enter such an old and complicated industry as manufacturing. We also talk about relentless fundraising and more importantly getting your life balance back after intensive periods of work. Finally, we explore the value of mentoring.The topics covered in this episode with Timestamps[03:10] - INTRODUCTION AND THE ORIGINS OF FRACTORYTurning a passion for engineering into relevant educationSpending too much time on admin tasks as engineerTurning this pain point into a businessThe business model of Fractory[08:30] - LAUNCHING A BUSINESS IN A VERY OLD AND COMPLICATED INDUSTRYAcknowledging the complexities of the industryEasier to go from engineering to anything else rather than vice versaBuilding a “smart marketplace”Acquiring customers with digital marketing[11:50] - GEOGRAPHICAL ASPECTS OF RUNNING THIS BUSINESSChallenges to scaling and localisationDoing business in the UKEntry barriers[13:15] - THE FOUNDER JOURNEY - FUNDRAISINGFundraising as first-time foundersRaising series A for almost 2 years during the pandemicRaising with a big emphasis on R&DInvestors with industry experience vs. inexperiencedResilience with tiny investor conversionKnowing when/how to say no to investorsDealing with the self-administered pressure[22:10] - THE FOUNDER JOURNEY - GETTING LIFE BACK AFTER INTENSE FUNDRAISINGProject of going back to “normal” life againDon’t read notifications if you can’t react on them anywayCompany’s role in taking care of team’s healthSpecific activities companies can do to promote healthy lifestyle[33:15] - ON RAPID TEAM GROWTHImportance of culture and focusing on it early onHiring for scaleBalancing values with hard decisions[37:10] - VALUE OF MENTORING OTHER FOUNDERS/TEAMSTrying to be a better mentor than some encounteredThe same as going to a therapistBuild a network before you can find a mentorWhat makes a good mentorTo reach out to Martin use: https://www.linkedin.com/in/martin-vares-69332b86/ Website: https://fractory.com/ ===Find out more on https://www.pursuitofscrappiness.co/ Support for this episode comes from Nexpay > https://paynexpay.com/Support for this episode comes from Venetor > https://www.venetor.co/ ===See the video content exclusively on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/ Questions/suggestions? Join our Telegram group > https://t.me/pursuitofscrappiness Support the show

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