214. Startup Lessons from a Founder Who Discovered a Billion-Dollar Idea in Bolivia

Teague Egan faced every founder’s nightmare: payroll was due, and a massive investment deal with General Motors was stalled. With his back against the wall, Teague sold his house for $2 million and wired the cash to his company just to stay alive. That "all-in" gamble paid off, securing the partnership and positioning EnergyX to revolutionize the global energy transition.

It all started on a Bolivian salt flat, where a chance comment sparked an obsession with lithium. In this interview, Teague sits down with Ryan Atkinson to reveal how he went from a tourist to a founder partnering with industry titans. He breaks down the crucial pivot EnergyX made when their initial licensing model hit a wall, proving that agility is just as important as innovation.

You’ll learn the grit required to survive the "valley of death" in startup funding and how to execute cold outreach strategies that land billion-dollar partners. We also dive into high-stakes risk management and the mindset needed for enterperenurs to set bold visions. Whether you are raising capital or scaling a business, Teague’s story offers a masterclass in resilience.

Takeaways:

- Teague sold his own house for $2 million and wired the funds to the company to cover payroll and bridge the gap while waiting for the General Motors investment to close.

- Great business ideas often come from stepping outside your bubble, as Teague’s "aha moment" happened while traveling on a salt flat tour in Bolivia, not in a boardroom.

- You do not need prior industry experience to start; Teague entered the lithium space with zero knowledge but bridged the gap through obsessive reading and research.

- Networking is often a chain reaction where one contact leads to another, so you must be willing to send cold emails and attend conferences just to meet a single person.

- Entrepreneurs must be agile enough to pivot their entire business model if the market resists, just as EnergyX switched from licensing technology to vertical integration when resource owners were too slow to adopt their tech.

- The stress of entrepreneurship remains constant regardless of the dollar amount; whether the risk is $50,000 or $50 million, the only way to manage the anxiety is to focus on the daily work you can control.

- Securing strategic partnerships with established giants like General Motors provides not only capital but also the institutional credibility needed to scale industrial technology.

- Founders should set "unrealistic" and massive visions because bold goals are more effective at rallying employees and investors than modest, safe targets.

- Timing can dictate your business model; if your technology is too early for the market to trust, you may have to build the infrastructure yourself to prove it works.

- You must be the most confident person in the room regarding your execution, as investors and partners rely entirely on your belief to validate their own risk.

Tags: Startup, Entrepreneurship, Business Strategy, EnergyX, Teague Egan, Sustainable Energy, Business Scaling

Resources:

Grow your business today: https://links.upflip.com/the-business-startup-and-growth-blueprint-podcast

Connect with Teague: https://www.instagram.com/teagueegan/?hl=en