This episode starts with the another earth shattering Blox-Off, which by now, you’re familiar with (TLDR: each of the 6 pod winners face-off against each other in front of everyone and are ranked by the judges 1-6). What you might not be familiar with is just how quickly the leaderboard can switch up, which you’ll see unfold after the Blox-Off. The way the game is structured is extremely clever, as a contestant who has never even touched a Blox-Off can crack the top three simply by being consistent and earning points in the daily challenges. This episode also offers a lesson on equity, and leaves off with a surprise that the contestants really didn’t ask for…
It’s nighttime on Day 2 and the Blox-Off is about to heat up, as everyone seemingly did very well with the day’s concept. The pod winners are revealed and their challenge is staged: they have one minute to formulate a 3-minute presentation where they will pretend to be a customer going through their business’s funnel. Staying in character ignites fear in the pod-winning Bloxers, but they take on the assignment with gusto regardless, and the twist was very entertaining for all. The winners are announced and after two full days, one entrepreneur soars above the pack. The leaderboard switches up and some of the contestants decide to hang out and let off some steam while they play pool and discuss their endeavors and support system.
It’s now Day 3 in the competition and the competitors are learning about Equity Splitting Structures For Co-Founders, Investors, & Acquirers. We’re taught how and why equity in startups is split as it’s compared to slicing pie, and the advice proves valuable to all the Bloxers, especially those who are just approaching the investing stage. The episode ends with the announcement of the days’ “bloodbath”… aka a pop quiz.
In the early stages of startups, founders need to find ways to source the funds needed to do all the processes that will get them traction. Said funds can be used to buy all sorts of things needed to launch and grow. But what if we skipped the middleman (the investor) and simply traded for the things we need?
This episode centers around using our equity as a POTENTIAL bargaining chip, and how to trade with it in a safe manner. The headline of how to do this: vesting schedules and cliffs.
We will also go through a valuation class where we discuss at a very high level how to value a startup. This will include things such as what, how, and why multiples are used. As well as a series of variables acquirers will use to value the business.
Would you rather be on it?
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Andrew Chan is the Chief Operating Officer and Co-Founder of Right Rudder Aviation. He holds several Federal Aviation Administration (FAA) certificates including Certified Flight Instructor Instrument-Airplane, CFI-Glider, and Airframe & Powerplant Mechanic. His instructional specialties include bush flying, aerobatics, and advanced transitions. Andrew is also the Manager of the Inverness Airport (KINF), and proudly serves on the Board of Directors of the Society of Aviation and Flight Educators (SAFE). Since 2016, Right Rudder Aviation has set out to make the dream of flight accessible to all. Starting with a single 1946 Piper Cub in the flight school, today RRA is a full service Aerospace firm. Conveniently located in Central Florida, RRA is a Fixed Base Operator (FBO), flight school, aircraft maintenance facility, and aircraft dealership. RRA represents and sells all Pipistrel products across the United States, and is the exclusive dealer for the highly praised and newly launched Pipistrel Panthera. Right Rudder Aviation focuses on improving all aspects of aviation for the next generation- from launching revolutionary training programs to electrifying aviation into the future.
As the owner and founder of South Sound Staffing, Brittany is driven by a genuine desire to make a profound difference in the staffing industry. Being a family-owned agency, Brittany and her team go above and beyond to deliver exceptional service and unmatched dedication to their clients. With a customer-centric focus, they strive to provide the best staff, ensuring that employers find the perfect match for their organizations. Brittany’s extensive experience of over 10 years in the industry has honed her expertise, making her a true authority in the field. As a thought leader, Brittany is passionate about bridging the gap between employers and employees. She actively engages in discussions surrounding hiring, careers, staffing, leadership, and recruiting. By sharing her insights and expertise, she empowers both job seekers and employers to navigate the ever-evolving job market with confidence.
GW Chew, aka Chef Chew, is the Founder & CEO of Something Better Foods Inc. and has been a vegan food inventor/restaurateur for over 15 years. Adopted at birth into a family with the last name “Chew,” Chef Chew believes that he was born with a mission and purpose to change lives for the better, one chew at a time. Chef Chew grew up in the “country” amongst a family of very heavy meat eaters and noticed over time that a lot of different diseases, from diabetes to cancer, plagued the members of his family. He later discovered that many of those same diseases have been linked to poor diet and overconsumption of animal meat products. Inspired to begin living a healthy lifestyle, Chef Chew switched to a plant-based diet in 2001 and started experimenting with creating vegan food products in 2004. He painstakingly invented the Better Chew proteins in his mom’s kitchen and has perfected the textures and taste over the past 15 years.
Jarret Winkelman is an American business executive and serial entrepreneur. He specializes in establishing and growing companies from zero to multimillion-dollar revenue-generating businesses. Jarret was previously the founder and CEO of Incident Response Technologies (IRT), a GovTech company focused on providing solutions to first responders. Jarret bootstrapped IRT to the upper six figures in annual revenue, then raised $2.5M in venture capital to accelerate growth. IRT ultimately generated millions in revenue and served hundreds of customers throughout the United States and internationally. In 2021, IRT was acquired by The Riverside Company, a global private equity firm, and merged with their portfolio company Omnigo Software. In addition to remaining active as a thought leader and executive in the GovTech market, Jarret owns and operates a variety of business ventures including real estate investment firm Alpha Echo Properties, JSWinkelman Consulting, and Caddis Outdoors.
John’s passion lies in helping entrepreneurs and startup founders launch amazing software into the market that customers love. He partners with early-stage companies, to help them validate their ideas, to build software that matters and that customers actually want to buy. John has helped many bold entrepreneurs solve big problems that create a lasting impact.
Check out our flagship program, BetaBlox. It's a multi-year education and mentorship program designed to help early-stage ventures start to take flight! Let us help you get to your first million dollars in sales.
Don’t miss out on the entrepreneurial rollercoaster ride! Tune in now to watch the next mind-blowing episode of The Blox and witness the fierce competition, invaluable lessons, and game-changing moments. Get your popcorn ready and join us for the adventure of a lifetime!