In today's episode of Startup Hustle, Matt DeCorusey welcomes Josh Parson, CoFounder, and COO of Backlot Cars, to the show.

Backlot Cars is a leading online marketplace for auto dealers. They allow auto dealers, auto finances, and rental car companies to liquidate their inventory direct to their end-market, all without the cost of auctions, making it an easy, transparent, and enjoyable experience. By cutting out the auctions, both parties enjoy the added bonus of saving time and a headache from the average bidding war. 

And less than two years after recording this episode, Backlot Cars was acquired for $425M!



Find Startup Hustle Everywhere:

https://gigb.co/l/YEh5



This episode is sponsored by:

https://fullscale.io



Learn more about Backlot Cars:

https://backlotcars.com/



Fast forward to the most popular Startup Hustle series, How to Start a Tech Company:

https://gigb.co/l/21su

In today's episode of Startup Hustle, Matt DeCorusey welcomes Josh Parson, CoFounder, and COO of Backlot Cars, to the show.
Backlot Cars is a leading online marketplace for auto dealers. They allow auto dealers, auto finances, and rental car companies to liquidate their inventory direct to their end-market, all without the cost of auctions, making it an easy, transparent, and enjoyable experience. By cutting out the auctions, both parties enjoy the added bonus of saving time and a headache from the average bidding war. 
And less than two years after recording this episode, Backlot Cars was acquired for $425M!
 
Find Startup Hustle Everywhere:
<a href="https://linktr.ee/startuphustle">https://gigb.co/l/YEh5</a>
 
This episode is sponsored by:
<a href="https://fullscale.io">https://fullscale.io</a>
 
Learn more about Backlot Cars:
<a href="https://backlotcars.com/">https://backlotcars.com/</a>
 
Fast forward to the most popular Startup Hustle series, How to Start a Tech Company:
<a href="https://full-scale.gigabook.com/link/techcompany">https://gigb.co/l/21su</a>

Startup Hustle is a podcast for entrepreneurs, by entrepreneurs.  With the mission of telling the real story of startups and entrepreneurs, topics range from funding to failure and beyond.  If you want to start, own, or build a business then you're in the right place.   

Startup Hustle is a podcast for entrepreneurs, by entrepreneurs.&nbsp; With the mission of telling the real story of startups and entrepreneurs, topics range from funding to failure and beyond.&nbsp; If you want to start, own, or build a business then you're in the right place.&nbsp; &nbsp;

Startups, Entrepreneurship and Business are Not Easy

Startup Hustle

Startup Hustle is a podcast for entrepreneurs, by entrepreneurs.  With the mission of telling the real story of startups and entrepreneurs, topics range from funding to failure and beyond.  If you want to start, own, or build a business then you're in the right place.

Backlot Cars

Sim Desai, founder and CEO of Hive, discusses the creation of a secondary stock market for private companies. He explains the challenges of the current system, where selling private stock options is fragmented and opaque. Hive aims to centralize and automate the secondary market process, providing a platform for buyers and sellers to connect. The target market for Hive ranges from small companies with a post-money valuation of $300-500 million to large companies like SpaceX and OpenAI valued at $100 billion. While Hive is not accessible to retail investors, other providers cater to that market.

Takeaways
Hive is creating a secondary stock market for private companies, addressing the challenges of the current fragmented and opaque system.
The target market for Hive includes small companies with a post-money valuation of $300-500 million to large companies valued at $100 billion.
Hive provides a centralized and automated platform for buyers and sellers to connect, improving transparency and liquidity.
While Hive is not accessible to retail investors, there are other providers that cater to that market.

Find Startup Hustle Everywhere:
https://gigb.co/l/YEh5

This episode is sponsored by Full Scale:
https://fullscale.io/

Find out more about Hiive here:
https://www.hiive.com/

Learn more about Sim Desai here:
https://www.linkedin.com/in/sim-desai-a357aa11/

Sign up for the Startup Hustle newsletter:
https://newsletter.startuphustle.xyz/

Sound Bites
"There seemed to be a real opportunity to centralize and automate the secondary market process."
"The retail investor world is hungering for access to this stuff."
"Hive has about 2000 companies listed on its platform."

Chapters

00:00 Introduction to Hive and the Need for a Secondary Stock Market

06:29 Target Market and Growth of Hive

10:35 Competition and Differentiation of Hive

12:45 Listing Companies on Hive and the Role of the Company in Transactions

21:34 The Future of Private and Public Markets

23:55 Revenue Model and Information Disclosure on Hive

27:33 Potential for Funds on Hive

31:47 The Role of Blockchain in the Secondary Stock Market

35:19 Advice for Marketplace Entrepreneurs

Sim Desai, founder and CEO of Hive, discusses the creation of a secondary stock market for private companies. He explains the challenges of the current system, where selling private stock options is fragmented and opaque. Hive aims to centralize and automate the secondary market process, providing a platform for buyers and sellers to connect. The target market for Hive ranges from small companies with a post-money valuation of $300-500 million to large companies like SpaceX and OpenAI valued at $100 billion. While Hive is not accessible to retail investors, other providers cater to that market.
Takeaways
<ul>
<li>Hive is creating a secondary stock market for private companies, addressing the challenges of the current fragmented and opaque system.</li>
<li>The target market for Hive includes small companies with a post-money valuation of $300-500 million to large companies valued at $100 billion.</li>
<li>Hive provides a centralized and automated platform for buyers and sellers to connect, improving transparency and liquidity.</li>
<li>While Hive is not accessible to retail investors, there are other providers that cater to that market.</li>
</ul>
Find Startup Hustle Everywhere: <a href="https://gigb.co/l/YEh5">https://gigb.co/l/YEh5</a> This episode is sponsored by Full Scale: <a href="https://fullscale.io/">https://fullscale.io/</a> Find out more about Hiive here: <a href="https://www.hiive.com/">https://www.hiive.com/</a> Learn more about Sim Desai here: <a href="https://www.linkedin.com/in/sim-desai-a357aa11/">https://www.linkedin.com/in/sim-desai-a357aa11/</a> Sign up for the Startup Hustle newsletter: <a href="https://newsletter.startuphustle.xyz/">https://newsletter.startuphustle.xyz/</a>
<ul></ul>
Sound Bites
<ul>
<li>"There seemed to be a real opportunity to centralize and automate the secondary market process."</li>
<li>"The retail investor world is hungering for access to this stuff."</li>
<li>"Hive has about 2000 companies listed on its platform."</li>
</ul>
Chapters
00:00 Introduction to Hive and the Need for a Secondary Stock Market
06:29 Target Market and Growth of Hive
10:35 Competition and Differentiation of Hive
12:45 Listing Companies on Hive and the Role of the Company in Transactions
21:34 The Future of Private and Public Markets
23:55 Revenue Model and Information Disclosure on Hive
27:33 Potential for Funds on Hive
31:47 The Role of Blockchain in the Secondary Stock Market
35:19 Advice for Marketplace Entrepreneurs

Creating a Private Stock Market

In this episode, Matt Watson interviews Vijay Rajendran, the coach and CEO of Startup System, about startup resilience and fundraising in the current economic climate. They discuss the challenges faced by startups, the importance of being cashflow positive, and the need to adapt and refine value propositions. They also explore the role of marketing, the significance of communication and delegation for founders transitioning to CEOs, and the value of aligning goals and values. Vijay offers coaching and support to founders in various areas, including funding, go-to-market strategies, team building, and metrics.

Takeaways
Startups are facing economic uncertainty and longer fundraising timelines, making it important to be cashflow positive and consider alternative funding options.
Marketing is crucial during challenging times, as it can provide opportunities to capture market share and offer value propositions that help customers save money.
Founders transitioning to CEOs need to focus on communication, delegation, and defining their role in strategy, culture, and fundraising.
It is essential for founders to align their goals and values with their business to make informed decisions and find fulfillment in their work.
Coaching and mentorship can provide valuable guidance and support for founders navigating the challenges of entrepreneurship.

Find Startup Hustle Everywhere:

https://gigb.co/l/YEh5



This episode is sponsored by Full Scale:

https://fullscale.io



Visit the Startup System website:

https://www.mystartupsystem.com



Learn more about Vijay here:

https://www.linkedin.com/in/vijayarajendran



Sign up for the Startup Hustle newsletter:

https://newsletter.startuphustle.xyz



Titles
The Value of Coaching and Mentorship for Founders
Aligning Goals and Values for Informed Decision-Making

Sound Bites
"There are things that we can do for ourselves, for our companies, for the people around us that can help us get through what is an extremely difficult period."
"If we're not in a market where companies are spending a lot of money and there's a lot of growth out there, it'd be hard to raise a lot of capital and think, hey, we're gonna grow, grow, grow, grow, because now that is not gonna happen."
"Your answer lies in their success. So figuring out how to offer them a message of hope and survival is how you're going to improve and refine your value proposition."

Chapters

00:00 Introduction and Overview 

02:16 Startup Resilience and Economic Uncertainty 

04:09 The Importance of Being Cashflow Positive

08:57 Adapting and Refining Value Propositions

12:25 Transitioning from Founder to CEO

27:37 Communication, Delegation, and Role Definition

32:58 Aligning Goals and Values

35:28 The Joy of Building and Creating

37:34 Contact Information and Conclusion

In this episode, Matt Watson interviews Vijay Rajendran, the coach and CEO of Startup System, about startup resilience and fundraising in the current economic climate. They discuss the challenges faced by startups, the importance of being cashflow positive, and the need to adapt and refine value propositions. They also explore the role of marketing, the significance of communication and delegation for founders transitioning to CEOs, and the value of aligning goals and values. Vijay offers coaching and support to founders in various areas, including funding, go-to-market strategies, team building, and metrics.
Takeaways
<ul>
<li>Startups are facing economic uncertainty and longer fundraising timelines, making it important to be cashflow positive and consider alternative funding options.</li>
<li>Marketing is crucial during challenging times, as it can provide opportunities to capture market share and offer value propositions that help customers save money.</li>
<li>Founders transitioning to CEOs need to focus on communication, delegation, and defining their role in strategy, culture, and fundraising.</li>
<li>It is essential for founders to align their goals and values with their business to make informed decisions and find fulfillment in their work.</li>
<li>Coaching and mentorship can provide valuable guidance and support for founders navigating the challenges of entrepreneurship.</li>
</ul>
Find Startup Hustle Everywhere:
<a href="https://gigb.co/l/YEh5">https://gigb.co/l/YEh5</a>
 
This episode is sponsored by Full Scale:
<a href="https://fullscale.io/">https://fullscale.io</a>
 
Visit the Startup System website:
<a href="https://www.mystartupsystem.com/">https://www.mystartupsystem.com</a>
 
Learn more about Vijay here:
<a href="https://www.linkedin.com/in/vijayarajendran/">https://www.linkedin.com/in/vijayarajendran</a>
 
Sign up for the Startup Hustle newsletter:
<a href="https://newsletter.startuphustle.xyz/">https://newsletter.startuphustle.xyz</a>
 
Titles
<ul>
<li>The Value of Coaching and Mentorship for Founders</li>
<li>Aligning Goals and Values for Informed Decision-Making</li>
</ul>
Sound Bites
<ul>
<li>"There are things that we can do for ourselves, for our companies, for the people around us that can help us get through what is an extremely difficult period."</li>
<li>"If we're not in a market where companies are spending a lot of money and there's a lot of growth out there, it'd be hard to raise a lot of capital and think, hey, we're gonna grow, grow, grow, grow, because now that is not gonna happen."</li>
<li>"Your answer lies in their success. So figuring out how to offer them a message of hope and survival is how you're going to improve and refine your value proposition."</li>
</ul>
Chapters
00:00 Introduction and Overview 
02:16 Startup Resilience and Economic Uncertainty 
04:09 The Importance of Being Cashflow Positive
08:57 Adapting and Refining Value Propositions
12:25 Transitioning from Founder to CEO
27:37 Communication, Delegation, and Role Definition
32:58 Aligning Goals and Values
35:28 The Joy of Building and Creating
37:34 Contact Information and Conclusion

Transition from Founder to CEO, Resiliency, Avoiding Burnout

In this episode, Matt Watson interviews Dale Walden, the founder of Njord & Co, a SaaS B2B marketing company. They discuss the importance of positioning in marketing and how it can help companies focus on their target audience. Dale shares his experiences in the B2C and B2B worlds and emphasizes the need for founders to niche down and focus on a specific customer profile. They also discuss the challenges of transitioning from a founder to a leader and the importance of building a talented team. Dale provides insights into pricing strategies and the differences between selling to SMBs and enterprises.

Takeaways
Positioning is crucial for companies to focus on their target audience and effectively communicate their value proposition.
Niche down and focus on a specific customer profile to make your marketing more relevant and effective.
Transitioning from a founder to a leader requires delegation and building a talented team.
Consider the size of the organization you're targeting when determining your pricing strategy.
Selling to SMBs and enterprises requires different approaches and considerations.

Find Startup Hustle Everywhere:
https://gigb.co/l/YEh5

This episode is sponsored by Full Scale:
https://fullscale.io/

Find out more about Njord & Co here:
https://www.njordconsult.com/

Learn more about Dale Walden here:
https://www.linkedin.com/in/dalewalden/

Sign up for the Startup Hustle newsletter:
https://newsletter.startuphustle.xyz/

Sound Bites
"Positioning is difficult to define, but you know it when you see it."
"Make your pitch and proposition relevant to your customer's identity or aspirations."
"Transitioning from a ruthless dictator mindset to a collaborative leader is crucial for scaling a business."

Chapters

00:00 Introduction and Overview

03:01 Entrepreneurial Journey and Lessons Learned

05:30 Identifying Common Challenges in SaaS Businesses

08:18 Niche Down and Focus on Ideal Customer Profile

11:18 Creating Relevance and Emotional Connection with Customers

13:15 The Benefits of Focusing on a Local Market

14:13 Defining Good Positioning

15:30 Key Questions to Answer in Positioning

16:24 Differentiating Value and Making the Proposition Relevant

19:07 The Challenges of Psychological Positioning for Technical Founders

20:04 Quantifying Differentiated Value for Enterprise Customers

21:11 The Challenges of Unfair Advantage Perception

22:06 Transitioning from Founder to Leader

23:21 The Importance of Delegation and Collaboration

25:18 The Challenges of Letting Go of Control

27:20 The Importance of Talent and Building a Great Team

28:31 The Top Three Mistakes in Positioning

29:24 The Importance of Targeting the Right Market Size

In this episode, Matt Watson interviews Dale Walden, the founder of Njord &amp; Co, a SaaS B2B marketing company. They discuss the importance of positioning in marketing and how it can help companies focus on their target audience. Dale shares his experiences in the B2C and B2B worlds and emphasizes the need for founders to niche down and focus on a specific customer profile. They also discuss the challenges of transitioning from a founder to a leader and the importance of building a talented team. Dale provides insights into pricing strategies and the differences between selling to SMBs and enterprises.
Takeaways
<ul>
<li>Positioning is crucial for companies to focus on their target audience and effectively communicate their value proposition.</li>
<li>Niche down and focus on a specific customer profile to make your marketing more relevant and effective.</li>
<li>Transitioning from a founder to a leader requires delegation and building a talented team.</li>
<li>Consider the size of the organization you're targeting when determining your pricing strategy.</li>
<li>Selling to SMBs and enterprises requires different approaches and considerations.</li>
</ul>
Find Startup Hustle Everywhere: <a href="https://gigb.co/l/YEh5">https://gigb.co/l/YEh5</a> This episode is sponsored by Full Scale: <a href="https://fullscale.io/">https://fullscale.io/</a> Find out more about Njord &amp; Co here: <a href="https://www.njordconsult.com/">https://www.njordconsult.com/</a>
Learn more about Dale Walden here: <a href="https://www.linkedin.com/in/dalewalden/">https://www.linkedin.com/in/dalewalden/</a>
Sign up for the Startup Hustle newsletter: <a href="https://newsletter.startuphustle.xyz/">https://newsletter.startuphustle.xyz/</a>
Sound Bites
<ul>
<li>"Positioning is difficult to define, but you know it when you see it."</li>
<li>"Make your pitch and proposition relevant to your customer's identity or aspirations."</li>
<li>"Transitioning from a ruthless dictator mindset to a collaborative leader is crucial for scaling a business."</li>
</ul>
Chapters
00:00 Introduction and Overview
03:01 Entrepreneurial Journey and Lessons Learned
05:30 Identifying Common Challenges in SaaS Businesses
08:18 Niche Down and Focus on Ideal Customer Profile
11:18 Creating Relevance and Emotional Connection with Customers
13:15 The Benefits of Focusing on a Local Market
14:13 Defining Good Positioning
15:30 Key Questions to Answer in Positioning
16:24 Differentiating Value and Making the Proposition Relevant
19:07 The Challenges of Psychological Positioning for Technical Founders
20:04 Quantifying Differentiated Value for Enterprise Customers
21:11 The Challenges of Unfair Advantage Perception
22:06 Transitioning from Founder to Leader
23:21 The Importance of Delegation and Collaboration
25:18 The Challenges of Letting Go of Control
27:20 The Importance of Talent and Building a Great Team
28:31 The Top Three Mistakes in Positioning
29:24 The Importance of Targeting the Right Market Size

Backlot Cars

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