Brett Granberg, Co-founder and CEO of Vannevar Labs | Revolutionizing Defense Technology
Aug 23, 2023
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In this podcast, Brett Granberg, Co-founder and CEO of Vannevar Labs, discusses funding and building a defense tech company, ensuring product-market fit, and the importance of mission-driven organizations. He also shares insights on leadership and the challenges faced by entrepreneurs. The chapter highlights the significance of adaptability, resilience, and team building in the startup journey.
Persistence and determination are crucial in fundraising for a defense technology company, with rejection being a common occurrence until the right opportunity arises.
Having a strong mission and purpose attracts motivated candidates and fosters employee retention in a defense tech startup.
Deep dives
Persisting through rejection and maintaining motivation
When raising funds, the speaker advises entrepreneurs to maintain a mindset of persistence and determination. They suggest thinking of the fundraising process as a numbers game, where rejection is expected until the right opportunity arises. The speaker shares their experience of facing numerous rejections and emphasizes the importance of keeping a positive mindset, even when faced with multiple no's. They attribute their success to their ability to persevere and maintain the belief that their 101st pitch would result in a yes.
The value of a mission-driven company
Having a strong mission and purpose is highly advantageous for a company, both in recruitment and retention. The speaker highlights the importance of building a team that feels fulfilled and does not feel like their time is being wasted. A meaningful mission attracts candidates who are motivated to make a difference and aligns with their desire for purposeful work. Additionally, a purpose-driven company fosters employee retention, as individuals feel good about how they spend their time and are more likely to stay committed to the company's goals.
The challenges of fundraising and the importance of conviction
The speaker shares their fundraising journey and the difficulties faced in raising capital. They discuss the misconception that raising funds is easy and highlight that most startups face many rejections before finding investors who believe in their vision. They emphasize the importance of having unwavering conviction in the face of rejection and the ability to constantly push forward, knowing that success requires persistence. They also mention the value of data-driven metrics in later fundraising rounds, where revenue traction and profitability play a role in telling the company's story.
Pride in customer impact and team growth
The speaker reflects on moments of pride throughout their entrepreneurial journey. They recall two meetings with senior officials where the company's products were showcased as essential tools for important missions. The appreciation shown by these officials solidified the impact of their work and highlighted the company's value to national security efforts. Additionally, the speaker expresses pride in the team they built, witnessing the growth and achievements of individuals within the organization.
Join us in the BreakLine Arena for a conversation with Brett Granberg, Co-founder and CEO of Vannevar Labs, a defense tech startup delivering state-of-the-art technology to people on the front lines of national security.
Brett shares his perspectives on the opportunities for how to fundraise for and build a defense technology company, how their team ensures excellent product-market fit, why a mission-driven organization is magnetic for prospective employees, and some essentials of world-class leadership.
“Our team is so outstanding - we are up-leveling all the time. I'm pushing hard every day to be worthy of working alongside them.” — Brett Granberg
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