67: Thinking BIG and Raising $70 Million with Jay Reno

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8 • 696 Ratings

🗓️ 4 August 2020

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you ever thought about starting a BIG business? Ever wondered what the first steps were to raising tens of millions of dollars? Do you unintentionally impose limitations on what you think you can accomplish? Have you ever thought, “If I just had more money, I could take my idea to the next level!”? If so, this episode is for you! Jay Reno, founder of Feather, has thought BIG from the start. His entrepreneurial journey began with an idea a bit ahead of its time. When that venture didn’t work out so well, he took the lessons he learned to bootstrap a whole new concept. Living in New York City and identifying with the trend of a new generation of people defining success through life experiences rather than being tied down to meaningless material possessions, Jay recognized an opportunity to put his degree in Climate & Environmental Sciences to work. With just a few thousand dollars and a ton of hard work and diligence, Jay quickly achieved proof of concept for Feather, a furniture rental company providing a flexible and sustainable alternative to ownership. In this episode, Jay tells us about his amazing experience at Y Combinator, an incubator program where other leading companies like DoorDash, AirBNB, and Dropbox also got their start. He offers insight on the pros and cons of raising money vs. bootstrapping your way to success. (Yes, there actually IS heartache involved, even when investors have pumped 70 MILLION DOLLARS into your company.) And he provides awesome examples of taking risks, making bets, and positioning yourself to be lucky when the time is right. Make sure you pay attention to Jay’s reminders about the common excuses potential entrepreneurs make that hold them back, to make sure you overcome and avoid standing in your own way of greatness. Check him out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! Links from the Show: Zoho CRM Act CRM Salesforce CRM BiggerPockets Pro Memberships Check the full show notes here: http://biggerpockets.com/bizshow67 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello Blue Skies. Hello moving onwards and upwards. Hello, taking control of your money. Say hello to tax-free investing. Open a Stocks and Shares ICER and act by the 5th of April to get 100 to 3,000 pounds cashback. Cargreaves lands down. Hello Life. Register and add or transfer £10,000 plus. You may go Lansdowne. Hello Life.
0:23.8	Register and add or transfer £10,000 plus.
0:25.4	You may get back less than you invest.
0:26.5	And tax benefits vary.
0:28.6	For terms and conditions, see hl.co.uk. UK, 4. slash ISA.
0:30.8	This episode is brought to you by Vanty.
0:33.6	Stressing over cyber security.
0:35.3	Whether you're a startup, growing fast, or already established.
0:38.6	Vanta can help you get ISO-27,001 certified and more.
0:43.6	Plus, it allows your company to centralize security workflows,
0:47.6	complete questionnaires up to five times faster,
0:50.2	and proactively manage vendor risk to help your team stay compliant.
0:54.3	Head to vanta.com slash Spotify to learn more.
0:58.7	So, you want to be a marketer.
1:01.5	It's easy.
1:02.7	You just have to score a ton of leads and figure out a way to turn them all into customers.
1:06.6	Plus manage a dozen channels, write a million blogs and launch 100 campaigns all at once.
1:11.2	When that's done, simply make your socials go viral and bring in record profits.
1:15.4	No sweat.
1:16.9	Okay, fine.
1:17.8	It's a lot of sweat.
1:19.1	But with HubSpot's AI-powered marketing tools, launching benchmark-breaking campaigns is easier than ever.
	...

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