How to Identify a Great Founding Team with Mark Mullen

In this episode, Tommy talks with Mark Mullen, Co-Founder and Managing Director of Bonfire Ventures. 

For more than two decades, Mark has been investing in private businesses. He helps B2B companies progress and build their networks. Building a strong VC-Founder bond is about getting to know the customers. It’s the catalyst for the company’s traction. Before Bonfire Ventures, Mark served as a managing partner for Double M Partners and Mull Capital.

Tommy and Mark discuss what makes a good founding team, how B2B businesses can benefit from VCs, and how to know when a startup has potential.

“If the founder’s able to go out, articulate the vision and the story, and really be painting the picture of what the firm is trying to build, he/she will be able to hire incredible people and grow. If you can’t do that, you’re going to fail.” ~ Mark Mullen

Main Takeaways

• Success requires a willingness to take risks. "Getting lucky" only happens when you do the hard work of exploring your curiosity, and giving yourself as many chances to succeed as possible.
• Most VCs are more interested in the people than the idea. The right VC can be immensely valuable to a founding team because they provide the money to hire the right people and acquire the right customers.
• One of the hallmarks of a great founding team is the passion and expertise to solve a problem. It has to be about more than a good business idea.
• There are different kinds of investments. Some are all about money, while others are more about personal gratification. You have to really understand your "why" as a founding team in order to find the right VC.

Links

• Mark Mullen on LinkedIn
• Bonfire Ventures
• Bill Daniels
• Warren Buffet
• Carlyle
• RBC Capital Markets
• Austin Beutner
• President Bill Clinton
• Evercore
• Google
• Michael Bloomberg
• Zoom
• Amazon Web Services (AWS)
• Boulevard
• Figment
• Angel Capital Association (ACA)

Connect with our hosts

• Mammoth
• Tommy on LinkedIn

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