How to Spend Your Company Capital and What to Avoid as a Founder (with Mark Morissette)
I've had a pleasure to speak to Mark Morissette (CEO & Co-Founder at Foxquilt) about how he is distributing the money Foxquilt has raised and what pitfalls founders can avoid in building complex tech products.
Don’t be blindsided to where you spend your early capital as a founder.
Mark Morissette has raised 1 million dollars at Foxquilt.
But instead of using their early-stage capital to win the praises of your VCs, they invested money into the backend and data science.
It’s their core differentiation as a tech company, but they are doing it frugally, with off the shelf components.
It looks weird and the code is miles from being perfect, but it’s good enough to test and validate.
About the guest:
Mark Morissette spent 15+ years in leadership roles covering areas like operations, sales & distribution for Canada’s premier carriers and fin-tech organizations including, Aviva and Real Matters. Now he is building a company called Foxquilt.
Here are the conversation highlights:
- How to spend the capital you raise in the early days of your company
- What founders should not be spending the money they raise on
- How Mark is allocating 1 million dollars he raised at his company: secret sauce vs off the shelf technology/components
- What entrepreneurs Mark meets don’t do and he wish they did
Want to see future episode highlights? You can add me on Linkedin here.
Mark Morissette has raised 1 million dollars at Foxquilt.
But instead of using their early-stage capital to win the praises of your VCs, they invested money into the backend and data science.
It’s their core differentiation as a tech company, but they are doing it frugally, with off the shelf components.
It looks weird and the code is miles from being perfect, but it’s good enough to test and validate.
About the guest:
Mark Morissette spent 15+ years in leadership roles covering areas like operations, sales & distribution for Canada’s premier carriers and fin-tech organizations including, Aviva and Real Matters. Now he is building a company called Foxquilt.
Here are the conversation highlights:
- How to spend the capital you raise in the early days of your company
- What founders should not be spending the money they raise on
- How Mark is allocating 1 million dollars he raised at his company: secret sauce vs off the shelf technology/components
- What entrepreneurs Mark meets don’t do and he wish they did
Want to see future episode highlights? You can add me on Linkedin here.
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