Kevin Siskar 12/9/16 Kevin Siskar 12/9/16

How Matt Rodak Plans To Fund Every House Flip In America with Fund That Flip

Any amount of research into the seemingly eternal-growing market of real estate investment will almost surely make one familiar with Matt Rodak, Founder and CEO of Fund That Flip.

Any amount of research into the seemingly eternal-growing market of real estate investment will almost surely make one familiar with Matt Rodak. The 2007 John Carroll grad is the founder and CEO of Fund That Flip, a company which allows anyone to apply for fast and affordable funding in the rehabilitative real estate investment business. The New York based startup had already raised $2 million by April 2016, shortly after graduating from Manhattan's Entrepreneur Roundtable Accelerator in the summer of 2015 and Founder Institute New York prior to that. Fund That Flip finds its niche by bridging the gap between accredited investors and vetted real estate rehab projects in the U.S.

On this episode of Ambition Today, Matt Rodak discusses his seemingly inevitable entrepreneurial roots (despite his "best efforts") as the son of a business owner. He explains how his relationship with his father, and him owning his own company before and during college, led to Matt's on-again, off-again kinship with business ownership. Today, Matt capitalizes on the experiences of his youth by taking action to solve the problems he notices in his industry, such as streamlining the loan application process for prospective "flippers". We hear about his journey to where he is, his advice on how to get there, and much more:

Maturing in an entrepreneurial-spirited family.
Paying for college by advancing a teenage lawn-mowing gig to a profitable business that he was able to sell during his sophomore year at JCU.
Being introduced to the real estate market through his early exposure to landscaping.
What to study in college vs. what to leave to education via real-world experience.
Bringing an entrepreneurial spirit to a non-entrepreneurial position at a large business.
Using lessons from upper management to implement starting a business.
Creating a business to streamline and eliminate the fallacies of market norms.
Employing the JOBS Act to capitalize on a brand-new industry.
Ownership vs. Accountability in life.

Ambition Today Question of the Day™:
"How do you align the ambitions of your team with the ambitions of the company?"

Links from this episode:

Thank you so much for listening and applying these useful tips and strategies to your life! If you have a chance, please drop by and leave a review for the show on iTunes by clicking here. Also, who should I interview next? Please let me know on Twitter or in the comments. Do you enjoy this podcast? If so, please leave a short review in the comments below. It keeps me going…

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Kevin Siskar 11/9/16 Kevin Siskar 11/9/16

Lessons Howard Love Learned While Sitting On Both Sides Of The Table

Over the last 30 years Howard Love has founded 15 companies and invested in over 50 early stage startups. His new book "The Startup J Curve" organizes his experience into the 6 phases startups go through as they grow. Howard also is the Founder & CEO of LoveToKnow, a digital publishing firm with over 30 million monthly visitors.

With coal magnates and aviators as his ancestors, entrepreneurship has been in Howard's bloodline for generations. In this episode, Kevin speaks to Howard about what he has learned from sitting on both sides of the table, both as a founder and an investor. We also discuss the 6 phases all startups go through according to Howard's new book The Startup J Curve. We also hear about the value of getting a formal education versus learning directly from the real world and much more:

Growing up in a family that encourages and breeds entrepreneurial spirit.
Dropping out of college to get real world experience.
Being resourceful in the startup space.
The grit it takes to get your company off the ground.
The knowledge and insight gained from writing a book.
Advancing the dialogue of startup culture through understanding of the J-curve.
The phases of a company: create, release, morph, model, scale, and harvest.

Ambition Today Question of the Day™:

"When you think about the younger version of yourself, how do you reconcile where you are now, and where you thought you would be?"

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Kevin Siskar 3/30/16 Kevin Siskar 3/30/16

Ambition Today: Adam Besvinick Teaches The Art of Hustle and How To Break Into Your Dream Role

Venture Capitalist Adam Besvinick explains the value of pure hustle in pursuing his dreams of breaking into the Startup and Venture Capital industry. Recently named to the Forbes 30 Under 30, Adam has invested in several startup companies as Principal at Deep Fork Capital.

Adam Besvinick, Principal VENTURE CAPITALIST aT Deep Fork Capital

In episode 14 we explore where Adam came from and how that connects to where he is now. Adam started blogging on VentureMinded.Me years ago and created his own track record through taking ownership of his brand. He has always strived to be continually helpful and add value to others. Through that hustle he previously worked his way into a role at Lowercase Capital to learn from Chris Sacca. Afterword Adam was one of the early employees at Gumroad while going to Harvard Business School. Now Adam is Principal at Deep Fork Capital and has invested in several companies across the country, with a focus on New York City and Silicon Valley. We go over what he looks for in great startups, how he used self-marketing to break into venture capital, and also cover:

The influences of growing up around entrepreneurship.
The value of experiencing life abroad.
How to demonstrate your expertise in a given field.
Why self-marketing is important.
How Twitter can create real world connections.
How constantly being helpful to others, leads to opportunity.
His experience at Duke and Harvard.
The differences between Silicon Valley and New York City.
How being an Investor in New York City is beneficial.
What Adam looks for in startups today.
Exploring some of the Deep Fork Capital portfolio companies.

Ambition Today Question of the Day:

How important is networking?

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Kevin Siskar 3/9/16 Kevin Siskar 3/9/16

Moving To New York City

New York City. The Big Apple. The Nexus of the Universe. Whatever you call it, it is one of the most unique places on earth and 8.4 Million people call it home. Many of those people moved here from other places in order to pursue their dream. New York City is the promise land of opportunity in the United States. Moving here however is no easy task. Getting a job in New York City without living here makes it next to impossible to get called in for an interview and securing an apartment in the cities crazy real estate market is a whole new world within itself. The city is expensive, the city is unforgiving, and the city is challenging.

While living in Buffalo I knew that I wanted to move to New York City and that I wanted to get involved with startups there. I applied to jobs for months before actually moving to New York City. The call's I got back for an interview were to come into the office in a day or two, but I was still 600 miles away in Buffalo. I needed to be closer if I was going to make any progress. I flew to New York City on a day in July with Colleen to try and get us an apartment, but we quickly learned we couldn't get approved in a nice building without a job. After viewing a dozen apartments with a broker we finally got approved by a building. We were quickly educated that being as this was July, where apartments can come on the market in the morning and be immediately off the market after lunch we had to decide fast if we wanted an apartment or not. We took it; real estate broker fee, deposit and all.

A month later we moved to New York City. After struggling just to get into the city I still had to find a job though. I ran out of money shortly after moving to New York City and ended up having to sell my car, which I had payed off while working bartending jobs during college. That only bought me a few more months of runway though. So I took a bartending job that I was able to get through a friend of a friend in Buffalo who happened to do some business in New York City (See Buffalo really is the "The City of Good Neighbors"). The bartending job was part time and still wasn't enough. Again, I was slightly better off than before but not by much. So I took a second job freelancing and working remotely online in the early mornings, writing for a tech website. I was still applying to potential full time jobs and taking interviews in my spare time. The cycle became that I would work bright an early in the morning, then apply to jobs and interview during the day, and finally bartend at night. Repeat. Repeat. Repeat.

I remember distinctly getting down to $20 in my bank account at this time while I would be waiting for my next paycheck to come in from either of the jobs. I was very close to having to move back to Buffalo. After months of this I finally got a full time job offer out of one of the interviews. I still remember being out to lunch. Colleen and I had company in town visiting us. We were talking about how life in New York has been treating us so far while eating cheeseburgers and I got a phone call. It was my future boss saying that the company would love to hire me and asked when I could start. It was an entry level job but it was enough that I could break even, pay my full rent, student loans, and live in New York City. Since that day, there have been hardships and challenges of course, but I am here. I live in New York City. Casey Neistat last year told a very similar story of his struggle in moving to New York City. How moving here can eat you alive and strip you of all your resources in the process. That even just getting set up to live in New York City is one of the greatest challenges people face.

He explains at the end of the video how it has all been worth it though. How for him the opportunity has out weighed the tremendous cost of moving to New York City in the first place. I have to agree. The opportunities the city has afforded me since then have been tremendous. I get to experience new products, stores, movies, foods, services, and crazes in New York City long before people in other parts of the country. So many experiences. I am always surrounded by ambitious and motivated people here. I feel privileged and love what I get to do now with startups. It was not easy though. So as you can see there is a reason Sinatra once said if you can make it here, you can make it anywhere.

Kevin Siskar 2/11/16 Kevin Siskar 2/11/16

When Business Growth Creates New Challenges

The funny thing about growth is that it can be a double edged sword. As a founder it is your job to drive and create growth for your company. After all the hard work, eventual growth in your company is the result of over coming each early obstacle. But at the very same time growth can then immediately create new obstacles.

This happens because growth brings with it additional challenges that your company may not have experienced before. On one side you should be celebrating that recent growth has led demand to increase beyond your wildest dreams. At the very same moment though your company is reaching the maximum capacity of your existing processes and current team capabilities.

This is one of the reasons entrepreneurship is a constant uphill battle. As an entrepreneur it is your job to keep problem solving new challenges over and over. Knowing this is one of the reasons we place such a high value on High Fluid Intelligence at the Founder Institute when evaluating new potential founders applying to the program. Can you quickly learn a rule set and apply it to solve a novel problem? With a constantly changing playing field, founders must recognize patterns and quickly adapt to survive.

The best founders have high fluid intelligence. They use it to quickly recognize the new obstacles growth has challenged them with, analyze, adapt and solve them. Ensuring that as the founder you are problem solving over and over is the path to increased growth and success for your business.

In order to prevent this repetitive cycle from becoming too daunting though it is important that throughout this process you make sure to remember to take a a brief moment to celebrate the wins as they come, or they may just quickly pass you by.

Kevin Siskar 2/2/16 Kevin Siskar 2/2/16

Tim Ferriss And Daymond John On The Power Of Being Broke

Every once in awhile I hear an episode of a show that is so good I feel compelled to share it. That happened last night when I listened to Daymond John of FUBU and Shark Tank interview Tim Ferriss on how to turn weaknesses into strengths. Daymond turned the tables on this episode of The Tim Ferriss Show and interviewed Tim about the power of being broke.

I listen to a lot of podcasts. Every once in awhile I hear an episode of a show that is so good I feel compelled to share it. That happened last night when I listened to Daymond John of FUBU and Shark Tank interview Tim Ferriss on how to turn weaknesses into strengths. Daymond turned the tables on this episode of The Tim Ferriss Show and interviewed Tim about the power of being broke. How to capitalize on a lack of resources and turn that into success.

The power of being broke forces people to be scrappy, which could possibly be the best single word to describe the best entrepreneurs. Some nuggets of wisdom to absorb from this episode include:

Using empathy to attract mentors.
How Tim overcame 27 rejections on his first book before getting his book deal for 4 Hour Workweek.
Making sure you don't over burden potential mentors.
Who makes the best business partners.
How to separate yourself from the crowd.
Why you should be nice to EVERYONE.
Don't be afraid to admit what you don't know.
Importance of putting yourself close to the action.
Always keep your sleeves rolled up.
Maintaining your Time, Health and Nutrition.

Listen To Tim Ferriss And Daymond John

Kevin Siskar 1/20/16 Kevin Siskar 1/20/16

Time Management For Entrepreneurs

I believe there is tremendous value in optimization. Increasing effectiveness even by a slight amount can have exponential effects as a result. Since taking a step back and thinking about planning my life in 2016 I have been working on ways to optimize life. One of those is time management.

I value time as the most important asset in my life. It is finite. The fact is that there is no Department of Time to print more hours, days or years like there is a Department of Treasury to print more money when the supply runs low.

There are 24 hours in a day. That is all you get. Make sure you spend each one of those hours wisely. We have been given the gift of time and it is our duty to make the most of it. Those 24 hours will be spent on either sleep, work, exercise, family, fun or free time.

I was originally going to elaborately detail my own day for this post but I have really liked the way Casey Neistat broke down his daily routine using the painted domino's visually in the below video. I have skipped ahead to the good part of the video (3:32) so you can jump right in. My routine in 2016 has been very similar to the image above. The major difference being that I swap vlog time with blog and podcast time. Also a night or two a week family time gets swapped for me with running event's in the evening around New York.

I like the balance that routine brings to the day in order to allow for more productivity in the long run. It also helps reduce burn out, which can be a real issue for entrepreneurs if not addressed. I look forward to continuing to maximize each day to the fullest potential I can. Let me know if you have a routine or any suggestions on maximizing the day. Feel free to put them in the comments below.

Kevin Siskar 12/15/15 Kevin Siskar 12/15/15

Ambition Today: Rob Principe, Founder & CEO of Scratch On Partnering With Jam Master Jay of Run-D.M.C., The Future Of Music, And The Rise Of The DJ

Episode nine of Ambition Today finds us with the King of the DJ's, Rob Principe, the Founder & CEO of Scratch Music Group. We talk about meeting your hero's as a child and then growing up to become business partners with them. Also, the Future of DJ'ing, Music, and much more.

Rob Principe, CEO of Scratch Music Group

Episode nine of Ambition Today finds us with the King of the DJ's, Rob Principe, the Founder & CEO of Scratch Music Group.

Growing up on Long Island as a child Rob loved music, especially Run D.M.C. One day the popular music group happened to sit down next to him on a plane as he was traveling to a tennis tournament. Afterword he took a picture with the group. Fast forward years later Rob had founded Scratch Music Group and after some hustle, Rob would show this very picture to Jam Master Jay of Run-D.M.C. in a greenroom at the Letterman Show in New York City while pitching him his vision. Jam Master Jay was in and together they co-founded the Scratch DJ Academy. I found Rob's story to be pretty incredible. During this episode we go over the history of Scratch as well as:

What is it like meeting your childhood hero's.
How Rob and Jam Master Jay of Run-D.M.C. co-founded the Scratch DJ Academy.
The importance of building credibility when building your initial startup's team.
Recognizing that defining inspirational moment in your life that changes the path your on.
How Aerosmith and Run-D.M.C. came to collaborate on "Walk This Way".
The moment when your startup becomes and feels real to you as the founder.
Converting your initial traction into a paid business model.
The importance of moving the chains over and over during the early years of your startup.
The future of DJ'ing and Music
How Music Festivals became so popular.

Ambition Today Question of the Day:

Do you think childhood plays a role in defining who people become?

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Who should I interview next? Please let me know on Twitter or in the comments. Do you enjoy this podcast? If so, please leave a short review in the comments below. It keeps me going…

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Kevin Siskar 11/24/15 Kevin Siskar 11/24/15

Education vs Experience

Many entrepreneurs, or just people for that matter, spend time educating themselves when they come up against an obstacle. They spend time researching online, asking friends and family, reading books, and more. Education can be a powerful force...

Education is a tool that can be leveraged through experience. Without acting on new knowledge, the energy you put into educating yourself with new information is not that useful. It could even paralyze your efforts without you realizing it. This is why it is so important to act on and work through your problems while you educate yourself.

Here is the secret though. While education needs to be applied through experiences to be effective. Experience does not require education to make progress toward your goals.

Experience through action can still be useful even if you are not educated. It is obviously not as powerful as when education and experience are combined, but still better than just endlessly educating yourself. On it's own pushing through with pure experience may be harder at first, but it will still result in progress toward your goals. Also an added bonus, experience can even sometimes cause education as a by product of jumping in.

Have I mentioned before that I minored in Philosophy? I know this is a bit of a deep logic piece about casual inference, but if you are still following me here, the point I want you to take away is this.

The next time you find yourself searching the internet for an answer while dazed and confused and all progress toward your goals has ceased, stop what you are doing. Take a step back and ask yourself if you can just move forward. If so, go for it. Jump in and move forward with the next or another step. More often then not, the best educational answers you were searching for will reveal themselves to you on the other side of experience anyway.

P.S. You can listen to this for a little extra motivation when pushing toward those harder goals.