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Entrepreneur Stories 4⃣ Inspiration

027: Ex-Lawyer GROWS The Vault to 7 Countries & Counting... The Adventure of Kevin Smith.

Entrepreneur Stories 4⃣ Inspiration

Millionaire Interviews Podcast & Sir Austin Peek

Careers, Business, Business:careers

4.72K Ratings

🗓️ 1 January 2021

⏱️ 39 minutes

🧾️ Download transcript

Summary

Kevin Smith is the CEO & Founder of The Vault, a collaborative workspace/innovation hub founded on the principle that people work better together. He's spent the last decade spearheading projects in global business development, startup investment and innovation initiatives. Since founding The Vault in San Francisco in 2013, Kevin has helped in-house companies raise over $200 million. With an eye towards the international, Kevin’s mission is to utilize The Vault to nurture the next generation of world-class startups. *** For Show Notes, Key Points, Contact Info, Resources Mentioned, & the Fabulous 4 Questions on this episode with Kevin Smith, visit here. ***

Transcript

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0:00.0

To assemble the right network of advisors and mentors, you've got to have support.

0:20.1

You don't need them now, you're going to need it later.

0:23.4

I'm a state that I see almost every startup doing, which is starting with the product rather than starting with the distribution.

0:46.4

So, why don't you tell us what you do and how do you make money?

0:49.4

Well, you're making a couple of assumptions there.

0:53.4

It's still in the startup, so making money is still tenuous.

0:56.4

Five years ago, I left a large company back in the world, largest asset manager, and started an online investment firm.

1:04.4

We were told that it was the world's first online broker dealer for early-stage investments.

1:10.4

Then about three years ago, I started another company, which is aimed at technology companies,

1:15.4

mostly early and middle-stage technology companies.

1:18.4

It's not quite an accelerator.

1:21.4

We were very clear that we didn't want to be a co-working space, because we think of co-working spaces as commercial real estate and really nothing more.

1:27.4

I think the reason that a lot of co-working spaces are not right and don't create the right kind of culture and atmosphere for technology companies is under the right, in fact, built and designed as offices.

1:39.4

We've created something very closely to an accelerator. We do a lot of training programs. We have it in the given time, 35 companies in here, and now we're expanding around the world.

1:50.4

What's the name of that?

1:51.4

A LatinBus call before us.

1:53.4

A company is called Seed Change, and both are still after growing and back to the question, how do we make money? Well, I'm still hoping for that payoff.

2:01.4

What do you think is the best thing for you to share that can help the audience the most?

2:05.4

Over the long term, this turns out to be a lot harder than people anticipate. It's impossible to predict all the difficulties and the obstacles you can have to go through.

2:15.4

But what we do know is there are going to be a lot of unexpected roadblocks, conflicts, issues to solve.

2:22.4

And when this time comes, sometimes there are going to be things that we can't talk about with your co-founder or co-founders. You probably can't talk about what it's significant about because he or she doesn't have the right context and maybe a sick of hearing about work anyway.

2:35.4

You certainly can't talk about what your employees and you probably can't talk about with investors, maybe board members.

...

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