Owl Insights Podcast Episode 002 Overview: Host: Tim Guest: Jeff Erickson In this episode of the Owl Insights podcast, Tim interviews Jeff Erickson, a seasoned entrepreneur and investor, to discuss his journey and insights into the startup ecosystem. Jeff begins by sharing his background, starting with his education in accounting and finance from the University of Utah and his transition from an investment firm to the startup world. His first significant venture was with Icono Communications, a small startup where he learned the ropes of the startup ecosystem and developed a passion for entrepreneurship. Jeff’s entrepreneurial journey took a pivotal turn when he co-founded Uppercase Living, a company he helped grow and eventually sell to a private equity group. This experience, particularly the challenges of raising capital and scaling the business, laid the foundation for his future endeavors in the startup community. He then moved on to become an angel investor, investing in and supporting early-stage startups. One of Jeff’s notable investments was in eShares, now known as Carta, a platform that simplifies equity management for startups. Jeff highlights the importance of tools like Carta in solving significant pain points for founders, particularly in managing cap tables and ownership percentages. This experience led Jeff to recognize another critical challenge for founders: financial modeling. He became involved with Forecaster, a company aimed at simplifying financial planning and analysis for startups, helping them create robust financial models that can be easily understood and used in investor conversations. Jeff shares his insights on the importance of networking and building relationships in the startup community. He talks about the inception of Founders and Funders, an initiative to bring together founders and investors in informal settings, such as Topgolf events and ski trips. These events foster meaningful connections and facilitate valuable exchanges of ideas and opportunities. The conversation shifts to Jeff’s creation of StartupStack, a platform designed to help founders identify and access essential tools and resources for their startups, often at discounted rates. Jeff emphasizes the importance of educating founders about the availability of these resources and helping them make informed decisions. Tim and Jeff also discuss the evolving landscape of startup financing and the need for founders to understand their financials deeply. Jeff stresses the importance of clean books, a bottom-up financial model, and having the right team in place. He highlights the role of Forecaster in providing startups with the tools to create accurate financial projections and variance analyses, which are crucial for both operational success and fundraising. The episode concludes with Jeff offering advice to founders on the importance of leveraging experts, such as experienced startup attorneys and financial advisors, to navigate the complexities of building and scaling a startup. He underscores the value of transparency and regular communication with investors, advocating for proactive engagement to address potential challenges early. Jeff’s journey and insights provide valuable lessons for first-time founders and seasoned entrepreneurs alike, emphasizing the importance of passion, preparation, and the right support systems in achieving startup success.