Episodios

  • Startup War Stories That Will Save Your Company | Equity Splits, Bad Investors, Hiring

    Startup War Stories That Will Save Your Company | Equity Splits, Bad Investors, Hiring
    Oct 2 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards dive into the most popular part of their boot camp: the war stories. They share real-world, personal experiences to illustrate fundamental startup principles. The episode kicks off with a rapid-fire icebreaker, translating common venture capital terminology into plain English. From there, they tackle the critical mistakes entrepreneurs often make, sharing cautionary tales about why 50/50 equity splits are a recipe for disaster, the dangers of partnering with misaligned investors, the fallacy of hiring a "white knight" salesperson too early, and the catastrophic cost of building a product based on an unvalidated idea.

    (00:00:00) The student with the "single worst idea" who became a multi-millionaire
    (00:03:40) Icebreaker: Translating VC terminology into plain English
    (00:11:16) Principle 1: Never split equity 50/50
    (00:14:38) War Story: How a 50/50 split led to a founder losing her own company
    (00:19:52) War Story: An investor's hidden terms killed a startup's biggest deal
    (00:23:32) Principle 2: The danger of hiring a "white knight" to save your company
    (00:25:16) War Story: The Chief Revenue Officer who generated less than 5% of sales in 18 months
    (00:29:04) War Story: Why Quibi failed after raising $1.8 billion
    (00:31:07) Principle 3: Startups must be problem-driven, not idea-driven
    (00:33:23) War Story: How validating an idea with the target market saved a student from failure
    (00:36:38) War Story: The doctor who spent $385,000 building a product nobody wanted
    (00:38:25) Why acting on assumptions is the most expensive mistake you can make
    (00:41:02) Final thoughts and how to hear more war stories


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    #StartupAdvice
    #FounderStories
    #WarStories
    #Entrepreneurship
    #StartupMistakes
    #VentureCapital
    #LeanStartup
    #BusinessLessons
    #FounderJourney
    #MarketValidation
    #Equity
    #StartupFunding
    #EarlyStage
    #Bootstrapping
    #TechStartups
    #BusinessPodcast
    #StartupTips
    #JohnRichards
    #TylerRichards
    #StartupIgnition
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    43 m
  • Ben Knell: Building a $100M+ Sales Engine, Family & Leadership, FBI, Pest Control, Business

    Ben Knell: Building a $100M+ Sales Engine, Family & Leadership, FBI, Pest Control, Business
    Sep 25 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards are joined by Ben, the founder and CEO of BK Marketing. Ben shares his incredible entrepreneurial journey, from his early days in door-to-door alarm sales to revolutionizing the pest control industry. He details the creation of his unique business model, which focuses on building elite, outsourced sales teams for pest control companies nationwide. Ben opens up about the significant challenges he's overcome, including a business partner's FBI investigation, losing over a million dollars in bad investments, and the industry pushback he received for offering unprecedentedly high commissions. He also discusses the importance of work-life balance, the power of focusing on your strengths, and his advice for aspiring entrepreneurs: "Why not you?"

    (00:00:00) Ben's shocking call from the FBI
    (00:02:23) Introducing Ben, CEO of BK Marketing
    (00:04:35) Icebreaker: A fun "this or that" session
    (00:10:05) How Ben got his start in door-to-door sales
    (00:16:05) Launching his first pest control company with no experience
    (00:19:30) A partner's $51 million fraud investigation puts everything at risk
    (00:23:45) The pivot: Creating a new business model for sales
    (00:25:44) How a life coach helped Ben 10x his productivity
    (00:29:13) The personal cost of an 80-hour work week and finding balance
    (00:31:47) The business mechanics of paying higher commissions
    (00:36:19) How private equity transformed the pest control industry
    (00:40:21) The biggest scars: Losing $1.4 million and the lesson learned
    (00:45:04) Ben's two biggest pieces of advice for early-stage founders
    (00:46:31) Why the Utah pest control industry pushed back against his model
    (00:48:26) What to look for (and what to avoid) when recruiting salespeople
    (00:51:21) Favorite podcast and the importance of "the becoming process"
    (00:54:17) What keeps Ben motivated today
    (00:56:55) Final advice to his 20-year-old self: "Why not you?"

    Learn more about us:
    https://startupignition.com/links

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    #Entrepreneurship
    #Sales
    #PestControl
    #StartupStory
    #BusinessGrowth
    #DoorToDoor
    #UtahBusiness
    #FounderJourney
    #SalesTeam
    #Marketing
    #StartupAdvice
    #WorkLifeBalance
    #Scaling
    #Recruiting
    #BusinessStrategy
    #CEO
    #Innovation
    #Leadership
    #Grit
    #Resilience
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    1 h y 1 m
  • Jeff Burningham: From Real Estate Tycoon to VC, Startups, Becoming Wise in the Age of AI

    Jeff Burningham: From Real Estate Tycoon to VC, Startups, Becoming Wise in the Age of AI
    Sep 18 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards sit down with Jeff Burningham, a seasoned entrepreneur, prolific investor, and now, author. Jeff shares insights from his incredible journey, from launching his first tech company in college and co-founding the multi-billion dollar real estate firm Peak Capital Partners, to shaping Utah's tech scene with Peak Ventures (now Element Ventures). The conversation dives deep into the themes of his new book, "The Last Book Written by a Human," exploring how we can become wiser in the age of AI. Jeff also opens up about his run for governor, the lessons he learned about politics and leadership, and the importance of purpose-driven entrepreneurship. This is a must-listen for any founder seeking to build a meaningful company and a fulfilling life.

    (00:00:52) Welcoming Jeff Burningham: Entrepreneur, Investor, Author
    (00:05:00) The Million Dollar Question: When Did Jeff Make His First Million?
    (00:06:08) Icebreaker: Humans vs. Machines "This or That"
    (00:13:43) Investing: Trusting Your Gut vs. AI and Machine Learning
    (00:16:16) The Single Most Important Trait for Successful Founders
    (00:20:30) Does the Entrepreneurial Grind Serve You Well in Life?
    (00:23:17) Why AI Will Be a "Crucible for Humanity"
    (00:28:35) Jeff's Origin Story: From College Startup to Real Estate Tycoon
    (00:30:30) Navigating the 2008 Financial Crisis with Peak Capital
    (00:34:49) The Genesis of Peak Ventures and Fueling Utah's Startup Ecosystem
    (00:41:05) The Real Reason Jeff Burningham Ran for Governor
    (00:47:26) What Running for Office Taught Jeff About Politics vs. Leadership
    (00:50:31) Proposing a New Political Movement Focused on Human Flourishing
    (00:54:39) A Key to a Fulfilling Life: Prioritizing "Being" Over "Doing"
    (00:58:38) A Personal Story About the Importance of Being Present
    (01:03:14) Jeff's Two Most Important Tips for Early-Stage Entrepreneurs
    (01:06:35) Where to Find Jeff and His New Book

    Learn more about us:
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    #JeffBurningham
    #StartupIgnition
    #AI
    #ArtificialIntelligence
    #Entrepreneurship
    #VentureCapital
    #UtahBusiness
    #PeakCapital
    #ElementVentures
    #Politics
    #UtahPolitics
    #HumanFlourishing
    #PurposeDriven
    #FounderAdvice
    #ProductMarketFit
    #AngelInvesting
    #UtahTech
    #SiliconSlopes
    #Leadership
    #StartupPodcast
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    1 h y 7 m
  • Case Lawrence: From Elon's Lawyer to Trampoline King, Sky Zone, Startup, Founder Story

    Case Lawrence: From Elon's Lawyer to Trampoline King, Sky Zone, Startup, Founder Story
    Sep 4 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards sit down with Case Lawrence, the visionary founder behind Circus Trix, now known as Sky Zone. Case shares his incredible journey from being a Silicon Valley lawyer for tech pioneers like Elon Musk to facing near-bankruptcy during the Great Recession. He recounts the serendipitous moment he discovered a trampoline park, a concept he turned from a "side hustle" into the world's largest indoor trampoline park franchise with over 300 locations. Case details his scrappy, creative financing, the "jet fighter" strategy he used to scale across the country, and the pivotal moments of bringing on investors and private equity to fuel massive growth and consolidation. From building a company with over $150 million in EBITDA to a recent run for U.S. Congress, this is a masterclass in resilience, opportunistic growth, and the power of a disruptive idea.(00:01:15) Introducing Case Lawrence, founder of Circus Trix (now Sky Zone)(00:04:10) Icebreaker Game: "Jump or Pass" on Entrepreneurial Scenarios(00:14:28) Case’s Origin Story: From Silicon Valley Lawyer to Near-Bankruptcy(00:19:13) The Serendipitous Discovery of a Trampoline Park(00:22:32) Creative Financing: Convincing a Landlord to Buy Trampolines(00:26:09) The Power of Desperation and Constraint-Forced Creativity(00:28:13) Stumbling Into Growth: How the First Locations Organically Expanded(00:31:27) Finding the First Major Investor and Proving the Model(00:34:35) The "Unbelievably Good" Unit Economics of Trampoline Parks(00:38:11) The "Jet Fighter" Strategy for Scaling with Young, Hungry GMs(00:40:42) The Inevitable Rise of Competition and How Capitalism Responds(00:44:26) Partnering with Private Equity to Consolidate the Market(00:45:21) Acquiring Competitor Sky Zone and Rebranding(00:46:25) Navigating the Existential Threat of the COVID-19 Pandemic(00:50:11) The Stunning Success: Growing to Over $150 Million in EBITDA(00:50:51) Why Case Decided to Run for U.S. Congress(00:52:54) Lessons Learned from the Unique World of Utah Politics(00:54:57) What's Next? Leading "This Is The Place" Heritage ParkLearn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#CaseLawrence#SkyZone#CircusTrix#Entrepreneurship#StartupStory#Franchising#BusinessGrowth#PrivateEquity#VentureCapital#ScalingBusiness#RecessionProof#FounderStory#UtahBusiness#StartupIgnition#FamilyEntertainment#FromLawyerToFounder#EntrepreneurMindset#BusinessStrategy#Leadership#Innovation
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    57 m
  • Kurt Workman: Owlet Baby Sock’s $100 Million Journey | Startup, SPAC, FDA, Turn Around

    Kurt Workman: Owlet Baby Sock’s $100 Million Journey | Startup, SPAC, FDA, Turn Around
    Aug 21 2025
    In this episode of the Startup Ignition Podcast, we are joined by Kurt Workman, the co-founder of Owlet. Kurt shares the deeply personal story that inspired the creation of the Owlet Smart Sock, a device that has now been used by 1 in 10 babies born in the US. He takes us through the entire journey, from a $50 student prototype to building a $100 million revenue company. Kurt opens up about the immense challenges faced along the way, including a three-year development cycle, navigating a complex and difficult relationship with the FDA, the rollercoaster of going public via a SPAC, and nearly facing bankruptcy. This is a raw and honest conversation about the steep climb of entrepreneurship, the fight for a mission you believe in, and the lessons learned from the highest highs and the lowest lows.(00:00:00) The personal story that sparked the idea for Owlet(00:02:43) How Owlet is building the world's largest pediatric health platform(00:05:52) The Founder's First Icebreaker: Pitches, prototypes, and disasters(00:10:04) Paying a student $50 for a design that a firm later quoted at $100,000(00:11:40) A manufacturing disaster that almost ended the company early on(00:13:10) The story of hiring Owlet's first key employee(00:17:43) The ownership and passion that sets a founder apart from a "hired gun"(00:20:25) Has Kurt ever had an "I made it" moment?(00:23:32) Owlet's current scale: 100 employees and $100M in annual revenue(00:27:57) How his wife's heart condition and a family tragedy led to Owlet(00:32:17) Assembling the founding team and winning competitions to fund the startup(00:38:30) Why it took three years to get the first product to market(00:42:26) Pivoting the go-to-market strategy after the initial launch failed(00:45:14) Navigating the complex and challenging relationship with the FDA(00:47:06) From 0 to 10% of all babies in the US using Owlet by 2021(00:49:12) Pulling the product off shelves and relaunching after the FDA warning letter(00:52:30) Stepping down as CEO, going public via a SPAC, and being asked to return(00:57:57) The hardest year of Kurt's life and the turnaround that saved the company(00:58:32) Calling a manufacturer they owed $30 million to avoid bankruptcy(01:02:00) Deciding to step down as CEO for the second time(01:05:57) Kurt's top 2 pieces of advice for early-stage entrepreneurs(01:11:29) Why the steepest part of the entrepreneurial climb is the most rewardingLearn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#KurtWorkman#Owlet#Startup#Entrepreneurship#FounderStory#MedTech#Hardware#StartupJourney#CEO#Business#Innovation#FDA#GoingPublic#SPAC#Turnaround#UtahBusiness#VentureCapital#Startups#Leadership#Tech
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    1 h y 14 m
  • Don't Make These Mistakes: Founder Regrets, PMF, Fundraising, QSBS, Hiring

    Don't Make These Mistakes: Founder Regrets, PMF, Fundraising, QSBS, Hiring
    Aug 14 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards dedicate the entire show to answering pressing questions from their founder community. They kick things off with a fun "Startup Generational Side-by-Side" game comparing business tools from the 80s/90s to today, before diving into the core questions. The duo offers practical advice and battle-tested insights on a wide range of crucial topics, including the biggest regrets of early-stage founders, identifying product-market fit, balancing customer discovery with building, fundraising strategies, validating demand, and the latest changes to QSBS tax law. They also tackle questions about finding early adopters, creating an unfair advantage, knowing when to pivot, managing burn rate, pricing products, hiring priorities, the challenges of remote teams, and maintaining founder efficiency.(00:00:00) Introduction to the Audience Q&A Episode(00:02:42) Icebreaker: Startup Generational Side-by-Side (80s/90s vs. Today)(00:19:59) What do founders regret most about not doing early in their journey?(00:22:48) What are the clearest signs that you've actually hit product-market fit?(00:25:51) How should I balance customer discovery versus building product?(00:28:50) Should I get significant traction before raising capital?(00:32:24) How do I validate demand before investing too much into my idea?(00:35:05) What are the recent changes to the tax-saving 1202 QSBS?[1][2][3][4][5](00:40:36) What's the best way to find early adopters who will buy?(00:44:36) Everyone talks about an unfair advantage. What if I don't have one?(00:46:49) When do I know when I should pivot versus when I should persevere?(00:50:48) How do I manage burn rate and cash runway effectively with limited funding?(00:54:20) I am seriously struggling with pricing my product. Any tips?(00:57:28) What roles should I be hiring for first?(01:01:42) You guys seem to hate remote teams. Why? And what if it's my only option?(01:07:18) What operational hacks do you have for founder efficiency?Learn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#StartupAdvice#FounderQuestions#ProductMarketFit#LeanStartup#Entrepreneurship#Fundraising#VentureCapital#QSBSTax#StartupStrategy#CustomerDiscovery#EarlyAdopters#PivotVsPersevere#BurnRate#RemoteTeams#FounderLife#StartupIgnition#BusinessGrowth#TechStartups#StartupCommunity#AskMeAnything
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    1 h y 13 m
  • Dustin Robins: Following Lean Startup all the way to $30M, Don’t Skip Steps, Scalability

    Dustin Robins: Following Lean Startup all the way to $30M, Don’t Skip Steps, Scalability
    Aug 7 2025
    In this episode of the Startup Ignition Podcast, we sit down with Dustin Robins, the CEO of Corporate Traditions, a company that has scaled to tens of millions of dollars in annual revenue. Dustin shares his incredible journey from being unexpectedly laid off from Adobe to starting a service-based video company, and the pivotal moment at a Startup Ignition boot camp that changed his entire perspective on business. Learn how he applied lean startup principles to transform a "turkey voucher" side-hustle into a scalable, tech-enabled corporate gifting powerhouse. This is a masterclass on validation, not skipping steps, the power of a great co-founder, and building a sellable asset.(00:00:00) How a tsunami in Japan led to Dustin getting laid off(00:02:52) Why Dustin is a master practitioner of the Lean Startup methodology(00:11:07) Dustin's early entrepreneurial ventures and career path(00:15:27) The "perfect" moment: Getting laid off from Adobe to start his first business(00:20:30) The birth of SEO VOD, Dustin's video-for-SEO service company(00:23:46) How the "turkey business" side hustle began(00:26:32) The "paradigm shift" slide that changed Dustin's life and career(00:29:33) Shifting focus from a service business to a scalable venture(00:31:30) Using "Slicing Pie" to bring on a co-founder the right way(00:35:16) How Corporate Traditions validated new product ideas(00:38:08) Fulfilling early orders with a "Paper MVP"(00:40:19) Why you can't skip steps in the lean startup process(00:44:20) Why do so many founders with resources and knowledge still skip steps?(00:47:38) The difference between a successful business and a scalable, life-changing venture(00:51:11) The ultimate "shortcut" for customer validation(00:56:00) Dustin's funniest memory with podcast host John Richards(00:59:34) What's next? Building Corporate Traditions to sell(01:01:03) The story of finding their CTO in an unexpected placeLearn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#LeanStartup#Entrepreneurship#StartupIgnition#Validation#CustomerDiscovery#MVP#Scalability#Bootstrapping#CorporateGifting#FounderStory#BusinessGrowth#StartupAdvice#UtahBusiness#SlicingPie#Pivot#VentureCapital#AngelInvesting#GetOutOfTheBuilding#DustinRobins#CorporateTraditions
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    1 h y 5 m
  • Startup Elephants vs Unicorns: Why We Invest in Elephants, Valuations, VC, Fundraising, Strategy

    Startup Elephants vs Unicorns: Why We Invest in Elephants, Valuations, VC, Fundraising, Strategy
    Jul 31 2025
    In this episode of the Startup Ignition Podcast, hosts John and Tyler Richards dive deep into the venture ecosystem, contrasting two prominent startup philosophies: the "Unicorn" versus the "Elephant." They argue that the post-ZIRP (Zero Interest Rate Period) era calls for a shift away from the "growth at all costs" unicorn mentality. Instead, they champion the "elephant" approach, which prioritizes capital efficiency, sustainable growth, early profitability, and maximizing founder equity. This method, they contend, offers a more realistic and enjoyable path to a life-changing exit for the vast majority of entrepreneurs, avoiding the immense pressure, high dilution, and low success rates associated with chasing a mythical billion-dollar valuation.(00:00:00) The mythical "unicorn" is so rare, but "elephants" are realistic.(00:04:05) Setting the stage: How the post-2021 financial environment has changed the startup world.(00:06:23) Why are some companies still clinging to inflated 2021 valuations?(00:08:50) The fork in the road for entrepreneurs: The unicorn path vs. the elephant path.(00:10:50) Defining an "elephant" startup: durable, profitable, and capital efficient.(00:13:00) Walking through the ideal journey of an elephant B2B SaaS company.(00:16:30) The origin of the "elephant" terminology, from articles by Luni (2021) and Erica Wenger (2023)(00:20:40) Erica Wenger's take on elephants: Emphasizing intentional scaling and early profitability.(00:22:24) The "epidemic" of failed unicorn pursuits and the lifestyle that comes with it.(00:28:37) The misalignment of incentives between VC return expectations and founder outcomes.(00:30:10) A warning to new angel investors about the dangers of investing at excessively high valuations.(00:34:44) Why the elephant path equals freedom for founders.(00:37:20) Exit Math: A hypothetical comparison of a unicorn exit vs. an elephant exit.(00:40:04) Unicorn Scenario: Raising $150M over 5 rounds to reach a $1B exit, leaving the founder with single-digit equity.(00:44:14) Elephant Scenario: Raising just $2M for a $50M exit, with the founder retaining 60-70% equity.(00:47:45) The acquirer landscape: Far more companies can buy a $50M business than a $1B one.(00:50:08) Elephants are predictable and achievable; unicorns are like lightning strikes.(00:52:05) An open challenge to the audience to debate this thesis.(00:53:02) Don't get caught in the ego trap; private happiness is greater than public praise.Learn more about us:https://startupignition.com/linksApply to be a guest on the pod:https://startup-ignition-podcast.paperform.co/Follow John & Tyler:https://x.com/trich_https://www.linkedin.com/in/johnrichards/Subscribe on YouTube:https://www.youtube.com/@StartupIgnitionFollow on X:https://x.com/startupignitionFollow on Instagram:https://www.instagram.com/startupignition/Follow on TikTok:https://www.tiktok.com/@startupignitionFollow on LinkedIn:https://www.linkedin.com/school/6458758/admin/dashboard/Follow on Facebook:https://www.facebook.com/startupignition/#ElephantStartup#UnicornStartup#VentureCapital#StartupAdvice#FounderLife#CapitalEfficiency#Bootstrapping#StartupExit#VCFunding#Entrepreneurship#StartupIgnition#BusinessStrategy#StartupFinance#FounderJourney#TechStartups
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    55 m