Cody started his first practice run in startups, back in 2012. It was pretty small and did not amount to much which led him to his 2nd startup. In 2014, he started a “LinkedIn” for restaurateurs and hoteliers to consolidate talent. Still run by his former Co-founder, Cody spent 4 years on this before he ventured out to create “Trust & Will”.
Cody started discussing finances with his wife and realized that there was a lot that needed to get one’s head around – with little to no digitization for Trusts and well, Wills.
From the first conversation to today, Trust and Will has operated for roughly 2.5 years – “We are still a young company” and they targeted their friends and family around the 30 – 40-year age bracket; who had kids or kids on the way. “It’s a very real time to start thinking about how do you protect this child – or how do you protect your family if something were to happen to you.” Life insurance is very important at this time but so is a Trust and a Will. It allows for a legal way to nominate guardians, otherwise the court decides in absence of such documents; as well as ensures the security of your legacy through legal means.
Cody obviously went around asking his friends, who were themselves young parents about having Trusts and Wills in place – to which a majority of them said they’d go to their attorneys if needed; but no one had a clear idea of how much it actually cost or where to find information online. That is when he realized that this was a major need that no one understood they had.
As far as fundraising for startups is concerned, Cody suggests, “You have to be a 100% prepared to fundraise.” You also need to be absolutely sure about what kind of investors you are going for. Just like co-founders, investors also need to be the right fit.
About his experience with remote employment, Cody states that he was able to manage a 24-hour development cycle for his previous venture – as his remote developers were based in Nigeria. This helped him scale and develop at a rapid pace. He is positive that the numbers for remote employment would grow significantly within the coming decade.
Hear on about what else Cody has to advise budding entrepreneurs, looking to setup and scale