Travis Makes Money 714: Andrew Munday | Getting Funded by Finding People Who Want You to Succeed
In this episode, we’re going to take a look at the work of another tech founder and how he was able to raise capital to run a successful business.
Andrew Munday was a founding member and the first employee at DoorDash. He became their Director of Operations until he pivoted into entrepreneurship where he also started and ran operations at companies including Future Fit, Open, and Pilaris. Now, Andrew is the founder and COO at Local Kitchens, a micro food hall that lets you mix and match your favorite local restaurants in one easy order. Andrew raised over $25M of funding from several well-known companies and even Steph Curry!
Jump right in and let’s learn how to get funding by finding people who want you to succeed.
Things you will learn in this episode:
[00:01 - 05:46] Opening Segment
- I introduce today’s guest, Andrew Munday
- Andrew gives us a bit of his background
- The learning process behind scaling DoorDash
- Getting hired as an Op-manager
- Picking the right talent for the right jobs
[05:57 - 14:20] Getting Funded by Finding People Who Want You to Succeed
- Andrew shares his shift away from DoorDash and into other starts
- The value of being an ‘early-stage’ guy
- Becoming the boss you always wanted
- How relationships came into play in Andrew’s continued success
- Providing accountability and consistency
- Practicing pitches with people who want you to succeed
- Andrew’s advice for people wanting to grow their ideas
- The value of in-person work - go where your people are
- Build relationships within any company you work with
- A quick word from our sponsors
[14:21 - 25:09] Proving Profitability by Creating Solutions
- We talk about how important environment is to your success
- Andrew talks about crazy experiences of building DoorDash
- Crazy growth = crazy grind
- How the team helped each other pull through
- Andrew explains the process of raising capital for Local Kitchens
- AWS for restaurants - multibrand ordering
- Creating efficiency and solutions
- How the process of Local Kitchen works
- Plans for expansion
- How to prove profitability
[25:10 - 29:09] Closing Segment
- Andrew talks about balancing pitching vs. running the company
- Make people feel lucky to invest with you
- Create FOMO
- The value of partnering with a celebrity
- How to connect with Andrew and his work - links below
- Final words
Tweetable Quotes:
“You want to live in a world where someone can say, look, in 3 to 6 months I’m going to leave… I try to create that culture with everyone who reports to me and I think they all know that I’m down for whatever’s best for them.” - Andrew Munday
“You definitely want to assert yourself as, ‘you would be lucky to invest in the company,’ without actually saying that.” - Andrew Munday
You can connect with Andrew on LinkedIn and Twitter. Check out what Andrew’s doing over at https://www.localkitchens.com/.
Did you love the value that we are putting out in the show? LEAVE A REVIEW and tell us what you think about the episode so we can continue putting out great content just for you! Share this episode and help someone who wants to connect with world-class people.
Jump on over to travischappell.com/makemypodcast and let my team make you your very own show!
If you want to learn how to build YOUR network, check out my website travischappell.com. You can connect with me on Facebook, Instagram, and Twitter. Be sure to join The Lounge to become part of the community setting up REAL relationships that add value and create investments.
Check out FranBridge Consulting for premier non-food franchise opportunities: travischappell.com/franbridge
Our Sponsors:
* Check out Kinsta: https://kinsta.com
Learn more about your ad choices. Visit megaphone.fm/adchoices