Ivailo Jordanov from 7Percent Ventures joins Pete Townsend to share his story of powering the search engine pioneers of the dotcom era, his incurable optimism, becoming an early-stage tech investor....and being yet another person on the show admitting to not being able to swim!
Ivailo Jordanov is a venture partner at 7Percent Ventures, a London-based VC investing in early stage tech companies that represent billion dollar opportunities. After an invitation from Graham Rodford from Archax who was on episode 37 of MoneyNeverSleeps, Pete Townsend met Ivailo at an investor dinner in London in October 2019 following CordaCon, the two-day conference put on by the enterprise DLT software firm R3. Through telling his story, Ivailo gets into the following themes:
- How it’s much harder to distribute a product than it is to build a product.
- Asking questions like “are the [startup's] product people good at understanding marketing," and "are the marketing people good at understanding product?"
- How all of the problems that startups need help with, someone else has had them before, and how a network of mentors and advisors can be incredibly helpful in solving these problems.
- How he sees a lot of startups that have a great product, but no one is using it - it’s not because the product isn't useful, it's because they’re not putting it in front of the right people in the right way.
- How you can get sucked into customer research and doing it forever, and how that’s a sign of procrastination.
- Finding the right balance between how long you want to talk to customers and when you start building.