What Didn't Kill You? with Michael Silverman

Making Sense of our Lives & Entrepreneurial Hardships with Justin Perkins

12 snips

Aug 10, 2021

Justin Perkins, founder of New Edge Advisors and former founder of Olomomo Nut Company, is an executive coach who helps leaders understand how the mind shapes performance. He recounts launching Olomomo at farmers markets, the highs and pitfalls of fundraising, the cashflow versus growth tensions in CPG, and how coaching transformed his view after a business collapse.

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ANECDOTE

Pitch Slams Catalyzed Investor Momentum

A pitch slam and a university business plan contest turned Justin's side hustle into a funded startup and launched serious ambition for scaling.
The contests attracted CPG veterans who gave practical packaging and branding advice that fueled momentum.

ANECDOTE

CircleUp Exposure Bought Credibility Fast

Justin used CircleUp for a second round and became an early poster child as the first company under $500K in sales on the platform.
That exposure brought critical investors (including Brad Feld's $25K) and credibility that closed the round.

INSIGHT

Personal Trust Trumps Platform Matchmaking

Investing is intimate; platform introductions can't replace the trust built in personal conversations.
Justin learned network effects help, but an investor's personal leap of faith remains decisive for funding larger sums.

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For many entrepreneurs, it is hard to maintain objectivity when dealing with the issues of their business because they are emotionally tied to their companies and what they do.In his coaching sessions and thanks to his experience, Justin Perkins helps entrepreneurs from falling into traps like this.

Justin Perkins is the Founder of New Edge Advisors. He provides deep Executive Coaching conversations for those interested in understanding how the mind works to reach their goals more efficiently while enjoying the ride. Justin has worked in several different industries over the years, with a focus on organizations that benefit society, like Care2, where he worked for 14 years. Justin was also founder of Olomomo Nut Company, his last venture before starting New Edge Advisors.

In this episode, we talk about Justin's journey of entrepreneurship, and his numerous endeavors, successes, and failures. Justin shared bits of his background and experiences with venture capital, his thinking process behind the decisions that led Olomomo to a challenging end, and the valuable lessons he gained from that experience . We also talk about how coaching helped him to understand himself better and how powerful it was for him to realize he could, thanks to his adventures, prevent other entrepreneurs from committing the same mistakes he made.

Some Questions I Ask:

I would love to just hear a bit of your background, what you're doing now and what your mission is (1:13)
What made you want to start a company? (4:12)
It sounds like, ultimately, you were really the one doing the fundraising, and you were the one people were investing in, is that fair to say? (16:23)
How did you think about the possibility of chasing after positive cash flow versus top-line sales goals? (25:20)
How do you help entrepreneurs navigate their emotional attachment to their companies? (45:19)

In This Episode, You Will Learn:

A bit of Justin's entrepreneurial spirit origins ( 6:21)
Justin's first experiences with money-raising and how quick the cash he gathered evaporated (11:27)
Investment is intimate. Some lessons learned about investments and relationships (15:36)
Entrepreneurs must have the ability to suspend reality (30:19)
How the world of coaching changed Justin perspective (38:34)

Resources:

New Edge Advisors website
Book: Jim Paul - What I Learned Losing a Million Dollars
Book: Paulo Coelho - The Alchemist
Book: Yuval Noah Harari - Sapiens: A Brief History of Humankind

Connect with Justin:

LinkedIn
E-mail: justin@newedgeadvisors.com

Important info:

Hosted on Acast. See acast.com/privacy for more information.