Colin started out with setting up “Acceleprice” (the accelerator) in the year 2012 and thereon had his own setup by the name of “Work America” in 2014. This led him to finally found SaaS Ventures, where he is the managing partner in the Venture Capital Firm. “I conceptualized the idea of the fund” while 2 of his co-partners are looking to manage the investment side and the investor relationship side with him.
When asked what he would like to tell his younger self, he emphasized that, “Recognize how non-linear the path is in entrepreneurship,” and that, “You have to play the long-game and say put one foot in front of the other and do the best thing that you can every day and see where you end up; because you cannot always see the next step.”
Coming to the topic of remote employment, Collin said, “Remote has been a fixture more than people know. Remote will continue to grow as a piece of the economy.” They will always be a need to fill the talent gap geographically with problems and challenges being pretty similar across the states. The biggest challenge that a startup faces is hiring the top talent at a reasonable cost, which is why not sticking to a rigid geographic location is the way out for most – if not all – startups.
Going fund hunting is imperative for startups, and the advice Collin shares is;
“The more you can accomplish on the customer traction side, the easier will it be to raise money.”
He believes that going to venture capitalists, who have an array of choices segregated into two categories namely:
Money to build product
Money to go to market
The latter would almost always win out; because venture capitalists are usually looking into investing in products that can sell.
Hear on to what Collin had to share in the full podcast and let us know how you went about fund raising for your startup.