Continuing the Series 2 strong start, we dive into an exhilarating conversation with Jamie Haymer, the entrepreneur who transitioned from a thriving media subscription venture, into the intricate world of insurance and risk management.
Jamie's trajectory is impressive, from his foundational days of selling educational books door-to-door before spending time with Proctor & Gamble and Gartner, to his rapid success with React News, which exited within its first two years, to his latest endeavour, Bolt Warranty.
This episode is a goldmine for startup founders, offering deep insights into Product-Market Fit, growth indicators, early-stage funding nuances, and the unmatched value of referral hiring and data-driven strategies.
Whether you're deep into your startup journey or just starting out, this episode promises invaluable takeaways. Here are the highlights.
(01:50) - Jamie's background and early entrepreneurial days.
(06:50) - The boredom cliff: Transitioning from a secure corporate job to a startup life.
(11:49) - The importance of a good pitch deck early on.
(13:28) - Finding early backers' initial funding and giving away more than you need to.
(17:01) - Understanding the tax breaks for UK startups and SEIS.
(19:04) - The early days and the value of working with consultants.
(21:12) - Knowing when you've got Product-Market Fit (PMF).
(26:27) - The threat of competitors and keeping a close on how they reacted once we launched.
(28:23) - Being acquired within 20 months of launch and the importance of a good product lead and monitoring usage data.
(33:15) - The idea of Feature-Market Fit and building products the market doesn't use.
(36:45) - Being approached and acquired within 6 months of initial contact and the mixed emotions of exiting.
(40:37) - Moving from one success to starting his second business, Bolt Warrantly, operating within the Insure-Tech sector.
(42:55) - What Jamie is doing differently this time around and the importance of user research.
(44:22) - Advice to founders just starting out and not going alone, including where to find those first early hires for your business.
(46:12) - Working with technical agencies to build your early product and how to go about choosing the right partner.
(48:52) - Behind Startup Lines question: best strategic manoeuvre.
(51:55) - The help Jamie is looking for and how to get in touch.
For more information:
LinkedIn: https://www.linkedin.com/in/philipguest/
Website: https://www.revcelerate.com/
Twitter: https://twitter.com/PhilGuesty