Nothing Ventured

Aarish Shah - EmergeONE
  • 5.0 (6)
  • ENTREPRENEURSHIP
  • UPDATED FORTNIGHTLY
Nothing Ventured

In conversation with the people who make the start-up world go round. Join Aarish Shah as he talks to founders, investors, and operators across the tech and venture ecosystem exploring some of the lesser-heard stories and challenges they've faced as they try to build the future.https://nothingventured.tech/Follow Nothing Ventured on socialTwitter https://twitter.com/NVPodFacbook https://www.facebook.com/NothingVenturedPodTikTok https://www.tiktok.com/@nothingventuredpodInstagram https://www.instagram.com/nothingventuredpod/

  1. 3 DAYS AGO

    Mike Bank: Anyone can build — but should they? | Part 2

    In this episode of Nothing Ventured, host Aarish Shah welcomes Mike Bank, founder of Underdog, a pre-accelerated syndicate that supports solo and non-traditional founders in launching revenue-generating businesses while maintaining their day jobs. Mike shares insights from his extensive experience as an investment banker, early-stage VC, and angel investor, discussing the challenges and opportunities in starting a business today. The conversation touches on key topics such as the importance of desirability, feasibility, and affordability in business ideas, the evolution of venture capital, and the inspiring story of a 13-year-old entrepreneur selling mystery seeds. Mike emphasizes the need for hard work and determination, breaking down mental barriers to diversity in entrepreneurship. Tune in to explore the journey of launching a business and the support available for aspiring founders. Timestamps: 00:00:00 - Introduction to Mike Bank and Underdog 00:01:29 - Mentoring DayZero Founders 00:01:57 - The Acceptability of Failure 00:02:17 - Podcast Promotion and Episode Structure 00:03:04 - The Role of Capital in Business 00:05:24 - Democratization of Innovation and Business Creation 00:06:09 - The Youngest Founder at Underdog 00:07:13 - The Seed Box Business Idea 00:08:17 - Real-World Skills Through Entrepreneurship 00:09:44 - Reflections on University and Failure 00:12:28 - The Importance of Effort and Experience 00:17:27 - Understanding Diversity in Entrepreneurship 00:20:15 - Personal Background and Privilege 00:25:03 - The Challenge of Funding Diverse Founders 00:27:12 - The Evolution of Underdog 00:30:31 - Learning from Failure and Mentorship 00:32:18 - The Value of Networks in Startups 00:39:00 - Open Access and Low Friction for Founders 00:42:02 - Demand Validation in Business Success Find Mike Bank online at: LinkedIn: https://www.linkedin.com/in/mfbank/ Twitter: https://x.com/mikefb Underdog: https://underdogx.co This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    48 min
  2. Mike Bank: Backing the Underdogs | Part 1

    17 APR

    Mike Bank: Backing the Underdogs | Part 1

    In this episode of Nothing Ventured, host Aarish Shah welcomes Mike Bank, the founder of Underdog, a pre-accelerated syndicate aimed at supporting solo and non-traditional founders in launching revenue-generating businesses while maintaining their day jobs. Mike shares insights from his extensive career in investment banking, early-stage VC, and as a prolific angel investor with around 100 early-stage bets. The conversation covers a range of topics, including the simplicity of starting a business today, the importance of viewing business ideas through desirability, feasibility, and affordability, and the challenges faced by founders. Mike also reflects on his experience mentoring over 100 DayZero founders, which led to the creation of Underdog, and discusses the significance of hard work in achieving success, irrespective of background. Tune in to learn more about the evolving landscape of venture capital and the inspiring stories of diverse entrepreneurs. Timestamps: 00:00:00 - Introduction to Mike Bank and Underdog 00:00:43 - Key Topics of Discussion 00:01:29 - Mentoring DayZero Founders 00:01:57 - Aarish Shah's Introduction and Podcast Details 00:02:49 - Mike Bank's Angel Investing Journey 00:04:07 - Diversity in Angel Investing 00:06:12 - Types of Investments in Mike's Portfolio 00:07:01 - Transition from Investment Banking to Angel Investing 00:09:40 - Mike's Early Entrepreneurial Experiences 00:11:09 - Learning from Failed Deals 00:13:00 - The Importance of Work-Life Balance 00:15:01 - The Reality of Angel Investing and Failure 00:17:35 - The Debate on Agency and Success 00:19:09 - The Role of Safety Nets in Entrepreneurship 00:22:20 - The Importance of Taking Risks 00:25:06 - Building an Ecosystem and Paying It Forward 00:27:10 - Leveraging the Internet for Opportunities 00:28:43 - The Simplicity and Difficulty of Starting a Business 00:29:02 - Tim Ferriss and the Real World MBA 00:31:01 - Learning on Someone Else's Dime 00:33:01 - The Concept of Underdog and Risk Management 00:34:06 - The Challenges of Traditional Accelerators 00:36:02 - The Startup Triangle of Success 00:37:54 - The New Way of Building Businesses 00:39:06 - Venture Capital Returning to Its Roots 00:41:26 - The Contrarian View on Venture Capital 00:42:15 - Misaligned Incentives in Venture Capital Find Mike Bank online at: LinkedIn: https://www.linkedin.com/in/mfbank/ Twitter: https://x.com/mikefb Underdog: https://underdogx.co This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    52 min
  3. Sam Kaplan: Getting to first purchase profitable in consumer

    10 APR

    Sam Kaplan: Getting to first purchase profitable in consumer

    In this episode of Nothing Ventured, host Aarish Shah sits down with Sam Kaplan, a partner at Five Seasons Ventures, a pan-European venture capital fund focused on investing in iconic and sustainable consumer brands. With an extensive background that includes roles at Citi and Birch Creative Capital, Sam shares invaluable insights into the venture capital landscape. They discuss the intricacies of investing, ranging from small checks of $25,000 to larger sums of $25 million, and delve into the importance of emotional connections to brands in early-stage consumer investing. Sam emphasises that customer acquisition costs reflect brand strength, while retention hinges on product quality, and highlights the unique challenges in consumer sectors compared to tech. The conversation also explores the critical concept of being first-purchase profitable and the significance of careful portfolio construction in venture capital. Tune in for a deep dive into the dynamics of consumer investing and the pivotal role of founders in business success. Timestamps: 00:00:00 - Introduction to the Podcast and Guest 00:00:42 - Overview of Sam Kaplan's Career 00:01:32 - The Importance of Emotional Reaction in Consumer Brands 00:02:03 - Aarish Shah's Background and Podcast Purpose 00:02:51 - Sam Kaplan's Experience at Birch Creative Capital 00:03:30 - Open Door Policy and Learning from All Conversations 00:05:02 - Overcuration and Homogeneity in Venture Capital 00:06:15 - Diversity in Venture Capital and Outliers 00:08:03 - Evaluating Early-Stage Consumer Brands 00:09:03 - Customer Acquisition Cost vs. Retention 00:10:14 - The Role of Brand in All Businesses 00:12:13 - Brand vs. Product in Consumer Goods 00:14:24 - Personal Experience with Brand Loyalty 00:15:05 - The Power of Brand in Commodity Products 00:16:24 - Trust and Brand in Consumer Products 00:17:07 - The Limitations of LTV in Consumer Businesses 00:18:20 - Critical Success Metrics in Consumer Ventures 00:19:03 - Switching Costs in Consumer vs. B2B SaaS 00:20:01 - The Role of ARR in Subscription-Based Consumer Products 00:21:09 - CAC Payback and First Purchase Profitability 00:23:00 - The Challenge of Scaling Consumer Brands 00:24:06 - Identifying Early-Stage Indicators for Success 00:25:06 - The Myth of Economies of Scale in Consumer Ventures 00:26:05 - The Reality of Increasing CAC Over Time 00:27:09 - Strategies for Diversifying Growth Channels 00:28:03 - The Importance of Diversification in Consumer Brands 00:30:16 - The Risks of Diversifying Too Soon 00:31:25 - Supporting New Channels and Geographies 00:32:01 - The Importance of TAM in Consumer Ventures 00:33:06 - Investing in Premium vs. Luxury Brands 00:34:31 - The Challenges of Investing in Luxury Brands 00:36:00 - The End Goal of Venture Funds 00:37:10 - Portfolio Construction in Consumer Ventures 00:38:00 - The Difference Between Tech and Consumer Venture Outcomes 00:39:27 - The Importance of Protecting Downside Risk 00:40:46 - The Role of Entry Valuation 00:42:09 - The Scope of Investment at Five Seasons 00:43:12 - The Risk Profile of Consumer vs. Tech Ventures 00:45:03 - The Importance of Avoiding Zeros in Consumer Portfolios 00:46:07 - The Complexity of Consumer Venture Capital 00:47:51 - The Concept of Value-Add VC 00:49:17 - The Role of Founders vs. VCs in Business Success Find Sam Kaplan online at: LinkedIn: https://www.linkedin.com/in/samuelmkaplan/ Twitter:https: //x.com/FiveSeasonsVC Five Seasons Ventures: https://fiveseasons.vc This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    1h 23m

  4. 3 APR

    Maya Ghayad: Stop killing innovation with metrics

    In this episode of Nothing Ventured, host Aarish Shah welcomes Maya Ghayad, a partner at ID4 Ventures, to discuss the evolving landscape of the venture capital industry. With nearly a decade of experience, Maya shares her insights on the significant changes happening within VC, including the phenomenon known as "the death of the middle." They explore the challenges early-stage founders face when navigating valuations, the importance of thorough diligence, and the necessity of an entrepreneur-friendly approach. Maya emphasises the value of understanding a founder's perspective and highlights how investors should support rather than overshadow them. Tune in for a deep dive into the future of European tech investment and the essential dynamics between founders and their investors. Timestamps: 00:00:00 - Introduction to Maya Ghayad and ID4 Ventures 00:01:00 - The Changing Landscape of VC: The Death of the Middle 00:03:00 - Current State of Fundraising for VC Funds 00:04:30 - Emerging Managers and Their Challenges 00:07:00 - The Importance of Due Diligence in VC 00:10:00 - Valuation Challenges for Founders 00:12:00 - The Role of Entrepreneur-Friendly Investing 00:14:00 - Metrics That Matter for Startups 00:16:30 - Navigating the Fundraising Process 00:18:00 - The Value of Accelerators in Today's Market 00:20:00 - Sector-Specific Insights: Space Tech and Beyond 00:22:00 - The Balance Between Founder Autonomy and Investor Guidance 00:24:00 - The Importance of Community and Talent in Startups 00:26:00 - The Impact of Dilution on Founders 00:28:00 - The Future of Accelerators and Their Relevance 00:30:00 - Conclusion and Final Thoughts on VC Dynamics] Find Maya Ghayad online at: LinkedIn: https://www.linkedin.com/in/maya-gayad-37b69033/ Twitter: https://x.com/Maya_Ghayad Id4 Ventures: http://www.id4.vc/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    54 min
  5. Simon Kohl: Making biology programmable

    27 MAR

    Simon Kohl: Making biology programmable

    In this episode of Nothing Ventured, host Aarish Shah welcomes Simon Kohl, founder of Latent Labs, a startup at the forefront of generative models for computational protein design. Simon shares his journey from studying physics at the Karlsruhe Institute of Technology to his pivotal role in DeepMind's AlphaFold projects, where he developed key uncertainty metrics for protein structure predictions. He discusses the recent $50 million Series A funding raised for Latent Labs and its mission to advance AI-driven biotech. The conversation delves into the transformative potential of generative modelling in drug discovery, the significance of presenting ideas effectively, and the importance of agility and decisiveness in fundraising. Tune in to explore the intersection of biology and machine learning, and how it’s shaping the future of scientific innovation. Timestamps: 00:00:00 - Introduction to Nothing Ventured and Guest Background 00:01:25 - Overview of Generative Modeling and Protein Design 00:02:00 - Host Introduction and Podcast Purpose 00:02:49 - Simon Cole's Experience at DeepMind 00:03:40 - AlphaFold's Impact on Computational Biology 00:10:11 - Real-World Implications of AlphaFold 00:13:03 - The Future of Computational Biology 00:16:38 - Transitioning from DeepMind to Latent Labs 00:17:24 - Building a Strong Team Across Locations 00:20:00 - Support from DeepMind and Community Response 00:21:12 - Europe's Role in Scientific Innovation 00:24:37 - Latent Labs' Approach to Drug Discovery 00:29:01 - Fundraising Insights and Challenges 00:31:43 - Nimbleness in Fundraising and Decision Making 00:35:47 - Balancing Conviction and Market Feedback 00:41:05 - Geographic Flexibility and Talent Access 00:45:23 - Cultural Integration Across Locations 00:48:40 - Importance of In-Person Offsites for Team Cohesion Find Simon Kohl online at: LinkedIn: https://www.linkedin.com/in/simon-kohl-4840a7124/ Twitter: https: //x.com/saakohl Latent Labs: https://www.latentlabs.com/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    52 min
  6. Piotr Bukanski: Tips on becoming a specialist generalist in VC

    20 MAR

    Piotr Bukanski: Tips on becoming a specialist generalist in VC

    In this episode of Nothing Ventured, host Aarish Shah welcomes investment manager Piotr Bukanski from Beringea. Piotr shares insights from his extensive background in finance, including his time at Merrill Lynch and his current focus as a generalist investor in B2B data, climate tech, and fintech. The conversation delves into the transferable skills from investment banking to growth investing, the importance of risk-taking and accepting failure in venture capital, and the dynamics of transitioning between consumer and B2B investments. Piotr emphasises the value of having a broad funnel of companies as a generalist while also becoming a specialist in specific sectors. He discusses the significance of understanding board dynamics and the necessity of vulnerability in investor-founder relationships. Additionally, Piotr addresses the challenges of climate tech infrastructure projects in relation to cash profiles and the current negative narrative surrounding the European IPO market. Tune in for an engaging discussion on the evolving landscape of venture capital and investment strategies. Timestamps: 00:00:00 - Introduction to Piotr Bukanski 00:01:06 - Transitioning from Investment Banking to Venture Capital 00:03:02 - Unlearning and Learning in Venture Capital 00:05:01 - Dealing with Imperfect Information 00:07:07 - Long-Term Thinking vs. Short-Term Metrics 00:08:34 - Comfort with Uncertainty in Early-Stage Investing 00:10:34 - Finding Reasons to Say Yes in Investments 00:11:44 - Identifying Risks vs. Upsides 00:12:54 - Decision-Making in Venture Capital 00:14:07 - Cultural Attitudes Towards Failure in Venture 00:19:45 - Shifting Focus from Consumer to B2B Investments 00:20:51 - Generalist vs. Specialist Investors 00:22:05 - The Value of Generalist Investors 00:24:05 - Specialisation in Different Stages of Investment 00:30:00 - Developing Skills as a Board Member 00:32:21 - The Importance of Listening on Boards 00:34:37 - Navigating Conflicts of Interest on Boards 00:38:24 - Challenges in Climate Tech Investment 00:39:35 - Capital Requirements in Climate Tech 00:41:08 - Finding Opportunities in Climate Tech 00:45:02 - The Role of Venture Capital in Large-Scale Projects Find Piotr Bukanski online at: LinkedIn: https://www.linkedin.com/in/piotr-bukanski/ Twitter: https://x.com/Beringea Beringea: https://beringea.co.uk This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    57 min
  7. Gillian Davis: There's a time and a place for tyranny

    13 MAR

    Gillian Davis: There's a time and a place for tyranny

    In this episode of Nothing Ventured, host Aarish Shah welcomes leadership development expert Gillian Davis. They dive into her impressive journey, from her early beginnings in her family's executive recruitment business in Canada to co-authoring the book "First Time Leader" at just 28. Gillian shares her insights on practical leadership strategies, particularly in the tech industry, having worked with companies like WeTransfer, MessageBird, and Spotify. Timestamps: 00:00:00 - Introduction to Gillian Davis 00:00:31 - Key Topics Overview 00:01:17 - Importance of Company Culture 00:01:27 - Host Reintroduction and Podcast Purpose 00:02:19 - Transition from Fampany to Company 00:03:09 - Challenges in Scaling Owner-Led Businesses 00:04:02 - Succession Planning and Leadership Evolution 00:05:08 - Founder Time as Currency 00:06:01 - Right People for Different Stages 00:07:01 - Normalising Business Evolution 00:08:14 - Emotional Attachment to Business 00:09:03 - Employee Lifecycle in Startups 00:10:18 - Importance of Processes in Scaling 00:11:21 - Founders' Self-Awareness and Coach ability 00:12:36 - Three Types of Founders 00:13:29 - Timing for Preparing for Scale 00:14:19 - Early Stage Focus: Product Market Fit 00:15:02 - Roadmap and Mind Mapping for Future 00:16:04 - Emotional Attachment to Office Space 00:17:07 - Red Flags in Company Culture 00:18:08 - Importance of Making Hard Decisions 00:19:22 - Communication During Restructuring 00:20:22 - Building Culture from Ground Up 00:21:46 - Crisis Management and Internal Communication 00:22:46 - Family Business Dynamics 00:23:39 - Reality of Building a Business 00:24:23 - Balancing Employee Happiness and Business Results 00:26:05 - Defining Leadership in Tech-Driven Environments 00:27:01 - Balancing Directive and Facilitative Leadership 00:28:43 - Authentic Leadership During Pandemic 00:29:59 - Accountability in Leadership 00:31:14 - Leadership in Scaling Startups 00:32:06 - Processing Failure as a Leader 00:33:52 - Hands-On Leadership in Startups 00:34:19 - Linking Leadership to Strategy 00:35:24 - Taking Accountability and Earning Respect 00:36:10 - Bringing People Along the Journey 00:37:06 - Building Playbooks That Work for You 00:38:52 - Cultural Differences in Leadership Styles 00:40:11 - Media Influence on Founder Narratives 00:41:20 - Celebrating Founders and Entrepreneurship 00:43:13 - Creating an Inspiring Narrative for the UK Find Gillian Davis online at: LinkedIn: https://www.linkedin.com/in/davisgillian/ Twitter: https://x.com/GillianDavis07 OverTime Leader: https://overtimeleader.com This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    1h 31m
  8. Zoltan Vardy: Releasing The Launch Code

    6 MAR

    Zoltan Vardy: Releasing The Launch Code

    In this episode of Nothing Ventured, host Aarish Shah interviews Zoltan Vardy, a seasoned B2B sales advisor and author of "The Launch Code." With nearly four decades of experience and over $2 billion in sales closed for major companies like CBS and NBCUniversal, Zoltan shares invaluable insights on mastering founder-led sales. The discussion focuses on transforming chaos into structure, overcoming the fear of selling, and understanding that sales is about solving problems rather than pushing products. Zoltan emphasises the importance of benefits over features, the iterative nature of sales, and how the journey from 0 to 1 differs significantly from scaling to 100. He also advocates for the significance of formal education in developing critical thinking skills. Tune in to discover how to accelerate your startup's revenue growth through effective sales strategies. Timestamps: 00:00:00 - Introduction to Zoltan Vardy and His Achievements 00:00:30 - Overview of Today's Episode Topics 00:01:35 - Call to Action: Rate, Subscribe, and Connect 00:02:22 - Zoltan's Journey to Writing "The Launch Code" 00:03:09 - The Impact of Zoltan's Work on Founders 00:03:38 - Zoltan's Family Background and Influence 00:06:10 - Transitioning from Corporate Sales to Startup Sales 00:07:41 - Zoltan's Entrepreneurial Experience During the Dot-Com Era 00:09:54 - Combining Corporate Structure with Startup Dynamism 00:11:04 - Founders' Fear of Sales and How to Overcome It 00:13:42 - The Importance of Problem-Solution Connection in Sales 00:15:36 - The Pain of Sales and Iterative Process 00:17:02 - Founder-Led Sales and the Importance of Direct Feedback 00:19:15 - Hiring the Right Salesperson at the Right Time 00:21:21 - Difference Between Business Development and Sales 00:22:29 - Selling Solutions, Not Products 00:24:04 - Case Study: Aleksander Niemczyk and Action Audit 00:26:32 - The Need to Have vs. Nice to Have Products 00:28:11 - Communicating Solutions in Simple Terms 00:30:15 - Creating a Clear Value Proposition 00:32:19 - The Role of Procurement in Sales 00:33:56 - Scaling Sales and Letting Go as a Founder 00:35:10 - Structure Enables Innovation 00:36:04 - Setting Clear Goals and Tracking Performance 00:37:07 - Case Study: Dexery's Growth Journey 00:39:18 - Building the Book vs. Building the Business 00:42:21 - The Risk of Founders Resisting Growth Find Zoltan Vardy online at: LinkedIn: https://www.linkedin.com/in/zoltanvardy/ Twitter: https://x.com/zvardy The Launch Code: http://www.thelaunchcode.net/ This episode is sponsored by EmergeOne, fractional CFOs for venture backed tech startups from Seed to Series B. Get in touch at https://emergeone.co.uk/contact-us/ or join the CFO team at https://emergeone.co.uk/join-the-cfo-team/ Sign up for EmergeOne’s weekly newsletter, Off Balance at https://off-balance.beehiiv.com/subscribe

    48 min
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5
out of 5
6 Ratings

About

In conversation with the people who make the start-up world go round. Join Aarish Shah as he talks to founders, investors, and operators across the tech and venture ecosystem exploring some of the lesser-heard stories and challenges they've faced as they try to build the future.https://nothingventured.tech/Follow Nothing Ventured on socialTwitter https://twitter.com/NVPodFacbook https://www.facebook.com/NothingVenturedPodTikTok https://www.tiktok.com/@nothingventuredpodInstagram https://www.instagram.com/nothingventuredpod/

Information

  • Creator
    Aarish Shah - EmergeONE
  • Years Active
    2021 - 2025
  • Episodes
    216
  • Rating
    Clean
  • Copyright
    © Aarish Shah - EmergeONE
  • Show Website
    Nothing Ventured

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