24: Get tons of feedback and stay open minded (UCLA Anderson Venture Accelerator Edition)

Build With Rob

Rob Dyrdek

Entrepreneurship, Business

5.0 • 636 Ratings

🗓️ 25 October 2021

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s far too easy to fall into the trap of only bouncing your ideas off of people you know will either agree with you, or be supportive no matter what. This is great for short-term confidence, but potentially detrimental to achieving long term success by building a sustainable business. The more feedback you get from all types of people, the better you can hone in on the true value proposition of your product, and thus understand who your customer will eventually be. Rob implores you to get as much feedback as possible in the IDEA stage, before you spend a dime, micro-failing over and over until your idea is undeniable. And then never stop getting feedback through every subsequent stage. This doesn’t mean that you need to please everyone, but commonalities will emerge that will give you crucial insight into how to evolve next.

On this episode, we once again welcome two fantastic entrepreneurs from the UCLA Anderson Venture Accelerator program:

John Dalsey started working in a brewery in New Jersey, earning his keep from the bottom on up through hard work and dedication. Through that process, he learned the alcohol business. It was later that he and his best friend became bored with the limited flavor selection in the hard seltzer craze and decided to create the first Asian-inspired flavors in the category. Thus, Nectar was born, with a focus on not only taste, but content creation. https://nectarhardseltzer.com/

Emily Smith put TASTE over everything for her pea-based protein powder, nuFYX. Launched during the pandemic, nuFYX became the #1 selling plant-based protein at Erewhon market in Los Angeles (which if you don’t live there, is a VERY fancy health-focused grocery store with six locations around the city). Besides tasting great, it incorporates aminogen, an enzyme to help break down protein, making it easily digestible. https://nufyx.com/

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Transcript

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0:00.0	Welcome to Build with Rob. I am Rob Deerdeck, CEO and founder of the Deirdick machine.
0:09.2	The one-of-a-kind venture creation studio. That systematic fuses art, science, and magic to manufacture amazing companies.
0:19.3	That's what we do down here. That's what we do down here. And on this
0:21.8	show, what do we love to do? I just love to talk about building companies. I don't care what
0:27.5	stage it's at. You know, are you in the diligence stage? Are you in the build stage? Are you in the
0:33.2	launch stage? Are you in the scale stage? All of these stages are incredibly important.
0:40.3	And at any time, one single idea from one mentor, conversation, anything can literally
0:49.3	change the trajectory of your business. And that's what I hope to do on this show,
0:53.9	especially when I'm talking to young entrepreneurs
0:56.0	that are super driven and have an idea and a vision.
1:00.3	And they're marching out into the valley of death, hoping to drive this idea to product
1:07.9	market fit and really live the dream of creating a successful,
1:12.5	sustainable, profitable, and maybe acquireable business. It's something that I love to do,
1:20.5	again, is speaking with entrepreneurs and looking into their concepts, understanding what
1:27.4	they're trying to achieve and see if I can't give them some help.
1:31.2	And today we have yet again another very special episode where we are featuring two entrepreneurs from the Venture Accelerator at UCLA Anderson.
1:43.3	And again, UCLA Anderson, it's just an amazing entrepreneur college program.
1:50.9	You know, it's really one of the very first ones that was ever created 50 years ago by
1:56.3	the great Dr. Al Osborne, okay, really saw the vision for what entrepreneurship means and how to
2:06.0	drive it into a more structured educational system so that you can create great entrepreneurs.
2:14.6	I think throughout time, you know, you went and got a business degree. And then,
2:19.7	like, if you chose, if fate brought you to becoming an entrepreneur, well, then you became one,
	...

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