The Pursuit of Scrappiness

This is an insight from our previous conversation on the frugal culture that has helped the company grow into a unicorn. This was recorded during the fundraising craze when profitability was not a VC expectation across the board, but now it is:How to remain frugal after raising hundreds of millionsPractical tips for measuring ROI of different activitiesMartin Villig is a Co-Founder of Bolt, one of the most widely known Estonian unicorns and a global leader in modern mobility. Martin has been an entrepreneur for more than 20 years and is an integral part of the Estonian startup community. In recent years, he has been especially active in social impact projects with such initiatives as coding school kood/Johvi and the Good Deed Education Fund for solving acute problems in the education sector.Listen to the full conversation with Martin here on Episode 44:Link to SpotifyLink to Apple Podcastshttps://www.pursuitofscrappiness.co/episodes/44-martin-villig===============Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/===============Support the show

The support for this episode comes from Leadfeeder - turn anonymous pageviews into concrete sales pipeline.Imagine knowing which companies are checking out your site, tracking their behavior on your site, and integrating all this into your CRM.That’s exactly what Leadfeeder does for you. Head to https://bit.ly/4dQVsWe for a FREE demo and get a FREE EXTENDED premium trial by mentioning the Pursuit of Scrappiness podcast.Head to https://bit.ly/4dQVsWe====Julija Jegorova and Mauro Battellini are co-founders of Black Unicorn PR, an agency specializing in helping tech companies reach global media and audiences. With extensive experience working with such companies and friends of the show as Klaus, Nordigen, INZMO, eAgronom and Startupwiseguys, Julia and Mauro have become experts in building trust, awareness, and brand equity for early-stage companies. On this episode we talk about:The importance of PR for startups and how it builds trust and brand equityBasic PR “hygiene” for startupsCommon misconceptions about PRNewsworthiness: What makes a story attractive to journalistsStrategies for startup founders to do their own PR before hiring an agencyHow PR can support fundraising efforts and enhance a company’s reputation==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/===============Support the show

This is an insight from our previous conversation on combining entrepreneurship with investing as well as investment principles:Be mindful of not working on problems in stagnant marketsThere needs to be good chemistry between founder and investorAllan Martinson is a legendary Estonian entrepreneur and investor with a rich history in technology and media. Starting his entrepreneurial journey in the early '90s, he founded the Baltic News Service, a pivotal news agency in the Baltic region. Martinson's career spans across various roles, including key positions at Starship Technologies and Xolo. With over two decades of investment experience, he has significantly contributed to the Baltic tech ecosystem, fostering innovation and growth.Listen to the full conversation with Allan here on Episode 156:Link to SpotifyLink to Apple Podcastshttps://www.pursuitofscrappiness.co/episodes/156-allan-martinson===Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/Support the show

The support for this episode comes from Leadfeeder - turn anonymous pageviews into concrete sales pipeline.Imagine knowing which companies are checking out your site, tracking their behavior on your site, and integrating all this into your CRM.That’s exactly what Leadfeeder does for you. Head to https://bit.ly/4dQVsWe for a FREE demo and get a FREE EXTENDED premium trial by mentioning the Pursuit of Scrappiness podcast.Head to https://bit.ly/4dQVsWe====Silver Laus and Siim Raadik are the founders of Shroomwell, an innovative Estonian company dedicated to harnessing the power of functional mushrooms and fungi to improve human health and the environment. With over a decade of experience in the mushroom industry, Silver and Siim have become pioneers in producing high-quality, scientifically backed mushroom-based wellness products. They are passionate advocates for the potential of mushrooms not only to enhance cognitive function and immunity but also to create sustainable, eco-friendly solutions that could significantly impact industries ranging from agriculture to pharmaceuticals. Shroomwell combines the wisdom of ancestors with modern-day science and run farms in Estonia, Sweden and USA covering an area of over 700 hectares, that’s 2x size of central park in New York.On this episode we talk about:The role of mushrooms in enhancing human health and productivity.The environmental impact of fungi and their potential to address issues like pollution and climate change.The underappreciated importance of mushrooms in the global ecosystem and why they are gaining popularity.Key challenges in the functional mushroom industry, including quality control and regulation.The science behind various types of mushrooms and their specific benefits (e.g., Lion’s Mane, Chaga, Reishi).Scaling mushroom-based innovations for global environmental sustainability.Use promo code: POS20 to get 20% off your first purchase at https://shroomwell.com==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/===============Support the show

This is an excerpt from our previous conversation with Taavet Hinrikus on brave early stage building decisions and scrappy marketing tactics of Wise (Ex-Transferwise):How to build trust when nobody knows your companyMaximizing marketing efficiency on low budgetsSwitching your mindset from waiting to doingTaavet Hinrikus is a partner at Plural, a VC investing in founders on a mission to change the world through technology. He co-founded the legendary Estonian unicorn Wise (initially Transferwise) in 2010, where he was CEO and later Chairman, which went public in the first-ever direct listing in Europe in 2021. Prior to that, Taavet was Skype’s Director of Strategy until 2008, starting as its first employee. He’s been an active investor supporting more than 100 companies globally. More recently he co-founded Jōhvi Coding School to help increase the number of people with coding skills in Estonia.Listen to the full conversation with Taavet here on Episode 160:Link to SpotifyLink to Apple Podcastshttps://www.pursuitofscrappiness.co/episodes/160-taavet-hinrikus==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/Support the show

The support for this episode comes from Leadfeeder - turn anonymous pageviews into concrete sales pipeline.Imagine knowing which companies are checking out your site, tracking their behavior on your site, and integrating all this into your CRM.That’s exactly what Leadfeeder does for you. Head to https://bit.ly/4dQVsWe for a FREE demo and get a FREE EXTENDED premium trial by mentioning the Pursuit of Scrappiness podcast.Head to https://bit.ly/4dQVsWe====Nick McEvily is a seasoned entrepreneur and product strategist with a track record that speaks volumes. Backed by Mark Cuban and with over $40 million in venture funding, Nick has developed multiple top 5 ranked apps in the App Store and played a pivotal role in scaling one of his companies to become the #2 fastest growing software company in North America in 2023, according to Deloitte. With a deep expertise in finding and maintaining product-market fit, Nick’s insights on human-centered design, product obsession, and scaling businesses are invaluable to any aspiring entrepreneur.On this episode we talk about:Defining and Achieving Product-Market FitHow to Recognize False Indicators of SuccessStrategies for Listening to UsersBalancing Data and Intuition in Product DevelopmentMaintaining Product-Market Fit Over TimeFostering a Culture of Experimentation and Risk-takingResources referenced in the episode:Superhuman Product Market Fit framework - https://review.firstround.com/how-superhuman-built-an-engine-to-find-product-market-fit/Jobs to be done framework - https://jobs-to-be-done.com/jobs-to-be-done-a-framework-for-customer-needs-c883cbf61c90==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/===============Support the show

This is an excerpt from our previous conversation on the importance of validating your product before building it:How to get ture validation for your productWhat is fake validationWhy you should not be afraid to do things manually at firstMartins Vaivars is the CEO and Co-founder of RivalSense, an AI-based tool designed to help businesses monitor their competitors. He is a serial entrepreneur, this being his fourth company, thus on top of practical AI software building knowledge, Martins also brings plenty of learnings from his previous startups. Listen to the full conversation with Frank here on Episode 169:Link to Apple PodcastsLink to Spotifyhttps://www.pursuitofscrappiness.co/episodes/169-martins-vaivars==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/Support the show

The support for this episode comes from Leadfeeder - turn anonymous pageviews into concrete sales pipeline.Imagine knowing which companies are checking out your site, tracking their behavior on your site, and integrating all this into your CRM.That’s exactly what Leadfeeder does for you. Head to https://bit.ly/4dQVsWe for a FREE demo and get a FREE EXTENDED premium trial by mentioning the Pursuit of Scrappiness podcast.Head to https://bit.ly/4dQVsWe====Olesja Bondarenko is the Founder and CEO of Nanordica Medical, a cutting edge deep science medtech company developing wound dressings using nanotechnologies. The company recently raised 1.75mEUR from such investors as Superangel and Specialist VC and they have leapfrogged the long medtech time to revenue by launching a product for animals before shipping a product approved for human use.On this episode we talk about:Introduction to Nanotechnology and MedtechChallenges of Building a Deep Tech StartupImportance of Regulatory and Business Development in MedtechFundraising and Communicating with InvestorsScientific Mindset vs. Business DevelopmentIterative Processes in Product DevelopmentResources referenced in the episode:Book Traction by Gino Wickman - https://books.google.lv/books/about/Traction.html?id=88b51eSsiXgC&source=kp_book_description&redir_esc=yNATO Innovation Fund - https://www.nif.fund/==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/===============Support the show

This is an excerpt from our previous conversation on the importance of adjusting your personality to each sales prospect:What AI tools you can use to prepare. Why mirroring is important. How much of it is natural and how much can be taught. How not to become creepy with the abundance of information available online.Frank Sondors is a seasoned sales expert and the Founder and CEO of Salesforge. With over a decade of experience in the sales industry, Frank has honed his skills in helping businesses navigate the complex landscape of sales and distribution. Frank’s company, Salesforge, is at the forefront of this innovation, helping businesses streamline their sales processes and improve their email outreach. Salesforge is also one of the truly most Baltic startups - a company based in Estonia with founders from Latvia and Lithuania. They recently secured half a million in pre-seed funding, but even before that have managed to build their ARR to $1M with a team of just 4 people.Listen to the full conversation with Frank here on Episode 172:Link to Apple PodcastsLink to Spotifyhttps://www.pursuitofscrappiness.co/episodes/172-frank-sondors==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/Support the show

The support for this episode comes from Leadfeeder - turn anonymous pageviews into concrete sales pipeline.Imagine knowing which companies are checking out your site, tracking their behavior on your site, and integrating all this into your CRM.That’s exactly what Leadfeeder does for you. Head to https://bit.ly/4dQVsWe for a FREE demo and get a FREE EXTENDED premium trial by mentioning the Pursuit of Scrappiness podcast.Head to https://bit.ly/4dQVsWe====Eduard Titov and Jurate Plungyte are the co-founders of Joiner App, an innovative socialization platform designed to help people connect and form meaningful relationships in their local communities. With backgrounds at companies like Tinder, Uber, and Ogilvy, the Joiner team brings a wealth of experience to their mission of addressing loneliness and fostering genuine social interactions.On this episode we talk about:Why Build Another Social NetworkChallenges of Launching in a Saturated MarketGrowth Strategies and Marketing TacticsHow to Build User Experience and Product Design That WorksBuilding in Trust and Safety in Social PlatformsThe Role of AI in Social Interactions==Find all episodes on >  https://www.pursuitofscrappiness.co/Watch select full-length episodes on our YouTube channel > https://www.youtube.com/channel/UCP6ueaLnjS-CQfrMCm2EoTAConnect with us on Linkedin > https://www.linkedin.com/company/pursuit-of-scrappiness/===============Support the show