Dr. Jeff Cornwall talks about the importance of patience in startups.
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Hey y'all 👋 Happy Friday 🚀
Below today's interview, I'm presenting some ongoing survey results from area investors on 2018 Nashville-based investments. So far, the majority of investors I've surveyed believe that access to seed stage capital is an issue in Nashville. I think entrepreneurs and investors both agree on that. What do you think?? Check out the results below.
Clay Banks,
COO and Cofounder of Haven Lock
Maybe you've never heard of Haven Lock before, or maybe you saw them the other night on Shark Tank. It seems like the company came out of nowhere at a time when the market is demanding more privacy, security and safety devices in our phones, homes, and places we go. Cofounders Clay Banks and Alex Bertelli have been working on their Haven Bluetooth smart lock line of products for five years, and seeing growth opportunities to help make your neighborhood, schools and your life safer. Meet your five minute mentor, Clay Banks.
CB: I want to see these senseless acts of violence stop. I’ve seen some incredible technology out there that can help with it, and Haven Lock is doing our part to help. We aren't a silver bullet, but we are part of the solution.
CB: Repetition increases success. The more reps you get at doing something, the better you will be at it. The first few reps will be your weakest. Whether for a marathon, or pitching on stage at Shark Tank. You have to go through your own process in the beginning so you know what you are capable of when you add more reps. The process of being successful takes a long time and I think most people expect it sooner.
CB: Eating healthy and exercising is a non-negotiable for me. If my body is not prepared, my mind will never be. My mental performance in business and in general is directly proportionate to what I eat and how I exercise.
CB: A lot of people think if you’re not “full time” then you’re not committed. We've been building this company for over five years and working a full time job. From the standpoint of having momentum, there are 168 hours in a week, and 40 you are working full time, what are you doing with the other hours? If you want to be above average, you have to optimize those 128 extra hours that you have.
CB: This comes down to my faith and belief that we are all put on this earth for a reason, and I was put on this earth to make this world a better place. That’s what I do with Haven Lock.
Clay Banks is COO and Cofounder of Haven Lock. You can find him here on Twitter
Recent Achievements:
Clay and Alex just presented Haven Lock on last week's episode of Shark Tank. Over 300,000 people apply each year on the show, and about 200 episodes get aired. You can see the recap on ABC here, and you can read more about it from this article in USA Today.
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We interrupt our regularly scheduled jobs news for something new. Over the past few months, we've surveyed local investors on 2018 Nashville-based investments. Here are the results so far:
Nashville Entrepreneurs, it's not just you: So far, 69.2% of investors believe that access to seed stage capital is an issue in Nashville's entrepreneurial ecosystem.
Diversity is not well represented so far: 61.5% of investor responses so far said they haven't invested in any Nashville-based businesses where majority ownership belongs to women, PoC, LGBT+, or other under-represented groups in 2018.
In fact, who needs seed stage businesses at all? 50% of the investors surveyed have participated in zero seed stage technology startup investments in Nashville in 2018.
This survey is live and open. You know what would make these results even more interesting? More self-reported data! You must be an investor and provide your investment company's email to participate. Public results are anonymous.
Are you an investor who invested in one or more Nashville-based company in 2018? Contribute here.
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LaunchLetter is a weekday newsletter from Southern/alpha, a website that features collections of stories and resources for underestimated startup communities.
LaunchLetter is for founders getting started on an idea or business. Our goal is to share the perspective, habits and positive messages of more experienced founders and CEOs. We hope you find it relatable and delightful as you get focused for the day on your own goals. Enjoy the ride.
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